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On June 16, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated, "Is strengthening cooperation with China an opportunity or a risk?" Enterprises, as market players, have the most say in this matter; whether to seek protectionism or proactively embrace competition and achieve innovative development, enterprises have made their choices through concrete actions. Chinas complete industrial system, abundant application scenarios, high-quality talent pool, and continuously improving policy environment provide fertile ground for innovation for enterprises from all countries. More and more foreign companies are choosing to upgrade their manufacturing bases in China into sources of innovation, strengthening their capabilities and enhancing their international competitiveness in the "gym" of the vast Chinese market. China will continue to unswervingly promote high-level opening-up and provide more support and convenience for foreign companies creating opportunities in China.Bank of Japan Deputy Governor Shinichi Uchida: In the face of a sharp rise in government bond yields, we will conduct flexible bond market operations.Bank of Japan Deputy Governor Shinichi Uchida: The situation in the Middle East has seen many changes, which is satisfactory.Bank of Japan Deputy Governor Shinichi Uchida: We will examine the impact of the Middle East conflict and consider the timing and pace of further interest rate hikes.Morgan Stanley: (Regarding the oil market) We expect the oil market to return to a supply surplus in 2027, with inventories expected to increase by 2.4 million barrels per 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.