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On April 16, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A Reuters reporter asked, "US President Trump said yesterday that he believes China will not stop buying Iranian oil. He also said he would impose sanctions on countries that buy Iranian oil. What is Chinas comment on this?" Guo Jiakun stated that China has consistently opposed illegal unilateral sanctions that have no basis in international law and are not authorized by the UN Security Council.On April 16th, Suren Thiru, an economist at the Institute of Chartered Accountants, stated that the unexpectedly strong growth in the UK in February would soon be overshadowed by the impact of the war with Iran. GDP grew by 0.5% that month, higher than the expected 0.2%. He said, "Given that the unexpectedly strong growth in February has been far outpaced by new energy and supply chain shocks, these figures are unlikely to alleviate stagflation concerns." This is expected to affect investment and consumer spending over the next year, thus dampening economic growth. Thiru indicated that the Bank of England is likely to keep interest rates unchanged for the time being, as the squeeze on growth will suppress inflation.Ukrainian President Zelensky: Aid supplies to Ukraine should be delivered on time.Ukrainian President Zelensky: Pressure on Russia must work.Futures News, April 16th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 181,417 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 4,160 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Warehouse receipts for petroleum asphalt futures totaled 32,010 tons, a decrease of 1,860 tons compared to the previous trading day; 7. Factory warehouse receipts for petroleum asphalt futures totaled 48,300 tons, a decrease of 500 tons compared to the previous trading day; 8. Warehouse receipts for medium-sulfur crude oil futures totaled 3,511,000 barrels, unchanged from the previous trading day; 9. Warehouse receipts for low-sulfur fuel oil futures totaled 13,500 tons, a decrease of 4,100 tons compared to the previous trading day; 10. Factory warehouse receipts for low-sulfur fuel oil futures totaled 0 tons, unchanged from the previous trading day.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.