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Yellen Says China’s Trade Policies Could ‘Interfere Significantly’ With US Bilateral Relationship

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Chinese “overconcentrated supply chains” threaten American jobs and recent investments intended to strengthen the country’s green energy industry, according to Treasury Secretary Janet Yellen. The Asian superpower’s trade policies “may interfere significantly with our efforts to build a healthy economic relationship.”

Yellen endorsed Biden administration initiatives meant to boost American economic competitiveness in a prepared speech she gave to Wall Street and corporate executives at the Economic Club of New York on Thursday afternoon.

Yellen | AP News Image

Yellen Says China’s Trade Policies Could ‘Interfere Significantly’ With US Bilateral Relationship

“When foreign subsidies threaten the viability of domestic firms” in important industries like green energy, she added, the United States should react. China’s green energy products are especially feared to undercut significant climate-friendly investments made possible by the Democrats’ August 2022 Inflation Reduction Act, which President Joe Biden signed into law.

Former President Donald Trump is making his argument to the Business Roundtable in Washington, an organization of over 200 CEOs, on why the economy would be better if he were back in the White House while Yellen is speaking.

Voters have heard from Biden and Trump, his likely Republican opponent, that they will be harsh on China.

The United States imposed major new duties this month on Chinese electric cars, cutting-edge batteries, solar cells, steel, aluminum, and medical equipment. On Wednesday, the European Union also acted to increase import duties, or tariffs, on Chinese-made electric vehicles after preliminary findings of a continuing inquiry into Chinese EV subsidies revealed that the nation’s battery electric vehicle “value chain” benefited from “unfair subsidization” that damaged EU competitors.

Yellen | Forbes Image

Yellen Says China’s Trade Policies Could ‘Interfere Significantly’ With US Bilateral Relationship

Chinese companies can charge as little as $12,000 for an electric vehicle. Chinese officials contend that their manufacturing keeps costs low and would support a shift to a green economy. They also claim that their solar cells and steel and aluminum mills have enough capacity to supply most of the world’s demand.

Among other concerns, Yellen mentioned in her statement on Thursday the proportion of Chinese manufacturing companies that are losing money, the high savings rates compared to other OECD nations, and the stringent investment regulations.

Yellen listed industries where Chinese government subsidies have fueled fast output growth, including the production of electric cars and their batteries and solar energy equipment, which the U.S. administration is attempting to boost domestically.

Yellen | CNN Image

Yellen Says China’s Trade Policies Could ‘Interfere Significantly’ With US Bilateral Relationship

“I reject the idea that ‘decoupling’ would help the US economy in any way,” she stated. Concurrently, a level playing field is necessary for us to fully enjoy the possible advantages of our economic partnership.

Her trip to Guangzhou and Beijing earlier this year was centered on industrial strategy and what the United States and Europe call China’s manufacturing overcapacity.

SOURCE – (AP)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Back For A 4th Olympics Run, LeBron James Says Gold Is All That Matters

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Lebron James | AP News Image

LAS VEGAS — He initially competed for the United States Olympic squad at 19. He did it again in his twenties, twice. And now, just a few months shy of turning 40, he’s back for one more run.

LeBron James didn’t need another Olympic experience to fill a gap on his CV or add to a legacy established long before. He chose to play this summer for one simple reason: he wanted to.

James took his first steps toward becoming the first American men’s basketball player to compete in the Olympics in three decades on Saturday, joining the team that will represent the United States at the Paris Games later this month. Training camp began in Las Vegas, marking the start of a 5-1/2-week quest in which the only acceptable outcome is the United States winning gold for the fifth time in a row.

Lebron James | AP news Image

Back For A 4th Olympics Run, LeBron James Says Gold Is All That Matters

“I’m still playing at a high level,” James, a three-time Olympic medalist (two golds and one bronze), said Saturday following the first exercise. “I still enjoy the game of basketball. And Team USA has done well for me, so I felt it was vital for this summer to be able to go out there and play with the rest of the guys.”

The inaugural session occurred on the same day as another first for the James family: the Los Angeles Lakers first game in the California Classic summer league, which included Bronny James, the NBA’s all-time scoring leader, making his professional debut.

James could have easily requested Day 1 off to attend his son’s debut. It was never considered. He onto the court shortly after the busses arrived, slapping hands with teammates, throwing down dunks, and reuniting with two of his former coaches, Erik Spoelstra and Tyronn Lue, who both won NBA championships with James on their teams.

“I was blown away by how hard he practices,” US coach Steve Kerr stated. “I went to Ty and Spo and asked, ‘Is this normal?’ And they replied, “Every day, every day.” And then I asked Spo, “What about way back when you got him?” And Spo replied, ‘Every day, drill, walkthrough.'”

Kerr has coached against James in four NBA Finals, all featuring Golden State guard Stephen Curry, who plays for Kerr’s Warriors and will make his Olympic debut this summer.

It’s fair to say that the prospect of teaming up piqued James and Curry’s interest when they decided whether or not to play in Paris.

“I’ve talked to both of them about this idea of being together after going against one another with such high stakes over the years,” Mr. Kerr said. “They go nicely together. The thought of Steph playing off the ball and LeBron pushing it in transition is interesting. Steph will play on the ball as well. And LeBron has improved his shooting, but they both excel in many aspects of the game. “I believe they’re excited to compete for the first time.”

James was a member of the United States team that won bronze medals at the 2004 Olympics in Athens and the 2006 World Championships (now known as the World Cup) in Japan. Since then, the Americans have gone undefeated when James wears USA across his chest in international play.

Since the bronze medal game in Japan 18 years ago, the United States has played 36 games with James in uniform, including 10 at the FIBA Americas tournament in 2007, four exhibitions before and eight games at the 2008 Beijing Games, and five additional exhibitions and eight games at the 2012 London Games. The record is 36-0. He aspires to finish 47-0 this summer.

Lebron James | AP News Image

Back For A 4th Olympics Run, LeBron James Says Gold Is All That Matters

“I’m here to have a good summer,” James stated.

Even though he will not participate in Rio de Janeiro or Tokyo, James will compete in his fourth Olympics, tying the record for the most by a US men’s player. Only Carmelo Anthony has appeared in four Olympics for the United States men’s team; Kevin Durant will do the same this summer.

That’s a great side note, but it’s different from what James thinks about right now.

“Our only goal,” he told me, “is to win a gold medal.”

SOURCE – (AP)

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Environment Canada Issues Heat Warning for BC and Alberta

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Heat Warning for BC and Alberta - Environment Canada Image

On Saturday afternoon, Environment Canada issued a heat warning for British Columbia’s Fraser Valley, Metro Vancouver and Alberta’s Edmonton, and Calgary cities.

A heat warning will remain in place until about the middle of next week, according to the weather service, because of the moderate risk to public health, Environment Canada reported.

“Very high temperatures are on the horizon starting Sunday,” Environment Canada warned in a press statement, citing a developing ridge of high pressure over the area.

The highs during the day will be in the low to mid-30s. Daytime highs will reach the upper 20s when you’re close to the water. Lows throughout the night will drop to about 17 degrees. By the middle of next week, the scorching weather should start to cool off, though when exactly that will happen is still up in the air.

Cooling Centers in Vancouver

With the installation of cooling centers, the City of Vancouver would like to remind its citizens.

“Anyone is welcome to cool down and rehydrate at one of these centers, and some will even allow well-behaved pets,” the city announced.

“Anyone can find a cool place to relax in the shade at any of the City’s other community centers, on plazas with coverings from the elements, or under the shade of trees, umbrellas, or awnings at parks or beaches.”

Next week’s temperatures in Alberta might reach 35C or higher, prompting Environment Canada to issue heat advisories for the province. Areas in northern, central, and southern Alberta, including High Level, Edmonton, and Calgary, are currently under the alerts.

By Sunday, the province can anticipate “extremely warm temperatures” brought on by a developing upper ridge, according to meteorologists.

Daytime Temperature to rise

A weather notice states that many sections of Alberta may expect daytime highs of near 30 C on Sunday, which will gradually rise to near 35 C by Wednesday.

“Downturns into the teens for the night won’t cool things down much.”

Residents of Alberta who live in the hotspots should stay indoors, avoid going outside as much as possible, and reschedule any outside activities they have planned. In order to prevent heat stroke and heat exhaustion, people should drink lots of water and other non-alcoholic, caffeine-free drinks.

The City of Edmonton has stated that it will activate its weather response for excessive heat on Monday to ensure the safety of vulnerable individuals in anticipation of warmer temperatures.

Unless there is a significant change in the forecast, city officials have stated that the response plan will conclude on Friday night.

The city emphasized the growing importance of preventing dehydration during heat waves.

Environment Canada has offered some tips to help residents stay cool during the upcoming heatwave, including:

  • drink plenty of water, even if you aren’t thirsty, especially at night
  • reduce activity level and avoid intense activity
  • wear a damp shawl or shirt
  • sit in a cool or tepid bath
  • take a cool shower
  • use a personal mister or spray bottle

As well, people are advised to watch out for signs of heat stroke, which include severe headache, confusion, unsteadiness, vomiting, and a loss of thirst.

Source: Global and City News

Heatwave in Delhi Claims 200 Homeless Lives in One Week

Heatwave in Delhi Claims 200 Homeless Lives in One Week

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South Korea’s First ‘Robot Suicide’ Raises Concerns: Robot Civil Servant Falls Down Stairs at Gumi City Council

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A robot civil servant in South Korea was discovered unresponsive at the foot of a stairwell, marking the country’s first ‘robot suicide’ case. Gumi City Council officials reported that the robot, known as “Robot Supervisor,” worked a conventional 9-to-5 workday and had its civil service ID card.

“Robot Supervisor” was apparently spotted by municipal staff about 4 p.m., who claimed that the robot had previously behaved abnormally, “circling in one spot as if something was there.”

“It was technically a member of the city hall staff, one of us.

According to the Daily Mail, a municipal official said “it worked diligently.”

What led to the ‘robot suicide’ in South Korea

While the cause of the fall is still being investigated, reports wonder whether the robot was asked ‘to work too hard’. The officials have collected the parts for analysis, which the robot’s maker is testing.

“Pieces have been collected and will be analysed by the company,” an official stated.

Bear Robotics, a California-based robot-waiter startup, produced the robot, which has been active since August 2023.

Unlike other service robots limited to single floors, the Gumi City Council robot explored the building independently, calling elevators to go between levels.

According to reports, the robot “helped with daily document deliveries, city promotion, and delivered information” to local residents.

The city council has postponed plans to deploy another robot.

According to reports, the Gumi City Council has postponed deploying another robot officer in response to this event.

According to the International Federation of Robotics, South Korea has a high rate of robot adoption, with one industrial robot for every ten employees.

Source: Daily Mail

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