- Manufacturing PMI indices recover in Asia
- Britain to join the Trans-Pacific Trade Partnership
- Trump was abandoned by his lawyers
Manufacturing PMI Indices Recover in Asia
The manufacturing industry in Asia continued to improve in many countries in January, with signs of a slowdown in China.
Activity in China’s services sector expanded at a slower pace in January, official data showed on Sunday, weighed by a flare-up in new coronavirus outbreaks.
According to the data released yesterday in China, PMI decreased from 51.9 to 51.3 in January, while the non-manufacturing index fell from 55.7 to 52.4.
Though slower than manufacturing, China’s services sector, which includes many smaller and privately-owned companies, has gained solid growth thanks to strong demand.
The official January composite PMI, which includes both manufacturing and services activity, fell to 52.8 from December’s 55.1.
In Taiwan, the IHS Markit manufacturing PMI Index rose from 59.4 in December to 60.2 in January, the highest level since April 2010.
In South Korea, the PMI Index rose from 52.9 to 53.2, the highest level since February 2011. Indices getting values above 50 points to growth in the sector.
In India, the PMI continued to grow in the 6th month, from 56.4 to 57.7. Indonesia PMI rose from 51.3 to 52.2, Philippines PMI from 49.2 to 52.5.
Some countries have declined. In Japan, PMI fell to 49.8, entering the contraction zone again. It dropped from 51.7 to 51.3 in Vietnam and 49 in Thailand, the lowest since July.
Bloomberg Economics Asia Economist Chang Shu predicted that the Asian manufacturing industry will remain strong in the coming months.
Britain to Join the Trans-Pacific Trade Partnership
The UK is applying to join the Comprehensive and Progressive Agreement on the Trans-Pacific Partnership (CPTPP), the UK Department of International Trade announced Sunday.
“The government is officially applying to join one of the world’s largest free trade blocs to put the UK at the heart of the developing economies of the Pacific region and to support jobs in the United Kingdom itself,” said the statements.
On Monday morning, the head of the British Department of Commerce, Liz Truss, will hold telephone conversations with colleagues from Japan and New Zealand, during which she will announce Britain’s desire to join the CPTPP. Formal negotiations will begin this year.
“The announcement is timed to the anniversary of Britain’s exit from the EU when it became an independent trading country,” the document says.
“One year after our departure for the EU we are forging new partnerships that will bring enormous economic benefits for the people of Britain,” Prime Minister Boris Johnson said in a statement.
“Applying to be the first new country to join the CPTPP demonstrates our ambition to do business on the best terms with our friends and partners all over the world and be an enthusiastic champion of global free trade,” Johnson said.
“Joining a £9 trillion trade partnership will reduce tariffs for UK industries, including food processing, autos, while creating new opportunities for modern industries, technology, and service markets, ultimately supporting and creating high-value jobs across the UK. Unlike EU membership, joining a partnership does not imply a concession from Britain on our laws, borders, or money, “the ministry said.
UK trade with partners is £111 billion per year, with an annual growth rate of 8% since 2016.
The partnerships include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Their combined GDP is £ 9 trillion.
Trump Was Abandoned by his Lawyers
45th US President Donald Trump was left without lawyers on the eve of his impeachment.
A team of five lawyers, who were supposed to defend the ex-president of the United States during the impeachment trial, left their client. And this happened less than two weeks before the start of the trial.
This is about Trump’s leading attorney, Butch Bowers, who was supposed to lead a group of lawyers, including:
Deborah Barbier (key team member);
Joshua Howard (investigated the 42nd US President Bill Clinton and Monica Lewinsky);
Johnny Gesser (joined later, but left with everyone);
Greg Harris (the last lawyer also refused to work with the 45th President of the United States).
As it turned out, lawyers were unable to agree on a defense strategy with Trump. The ex-president demanded to build it in accordance with the well-known line about the lost elections due to fraud. Lawyers suggested focusing on the issue of the illegality of impeachment after the end of the presidential term.
Trump has struggled to find lawyers willing to take his case as he refuses to budge from his false claims. Trump’s advisers have been talking to him about his legal strategy and he keeps bringing up election fraud for his defense, while they have repeatedly tried to steer him away from that, according to a source familiar with those discussions.
Former US President Donald Trump hired two new lawyers to head his defense team for his historic second impeachment trial set to begin next week.
Lawyers David Schoen and Bruce Castor will head the defense effort in the trial set to begin in the US Senate on February 9, Trump’s office said in a statement. Schoen had already been helping Trump and advisers prepare for the proceedings, according to the former president’s office.;
Both attorneys issued statements through Trump’s office saying they were honored to take the job.
“The strength of our Constitution is about to be tested like never before in our history. It is strong and resilient. A document written for the ages, and it will triumph over partisanship yet again, and always,” said Castor.
It’s unclear whether Schoen and Castor will go along with what Trump wants.