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Japanese Finance Minister Satsuki Katayama: We cannot interfere with or force pension funds to manage their investment portfolios.Japanese Finance Minister Satsuki Katayama: The Government Pension Investment Fund of Japan (GPIF) will assess its underlying investment portfolio annually; the assessment is based on assumptions that take into account potential growth prospects, and Japan’s growth strategy may bring about a major turning point.July 16 - According to Omdias latest forecast, the global recorded music retail market is expected to reach $48.3 billion in sales in 2026, surpass $50 billion in 2027, and further increase to $56.8 billion by 2030.On July 16th, South Korean Minister of Trade, Industry and Energy Kim Jung-gwan pointed out that artificial intelligence (AI), regional development, and the industrial ecosystem are key battlegrounds for the South Korean economy to escape the brink of "zero growth," emphasizing that business leaders must work together to address these challenges while expanding into global markets. He stated, "The era of relying on free trade and exports is fading; going it alone and survival of the fittest have become the norm." He added, "In such volatile times, if we do not remain highly vigilant, the rankings of companies, industries, and even the nation will change." Regarding AI, which he identified as a primary battleground, Kim Jung-gwan expressed caution about the current semiconductor boom and stressed the importance of preparedness. He noted, "Most companies outside the semiconductor market are struggling, but thanks to the chip industry, the whole society gives the illusion of prosperity."Futures Commentary by Everbright Futures: On July 15th, COMEX gold initially fell before rising, closing at $4066.9/ounce, a decrease of 0.07%. Domestic SHFE gold opened higher in the night session, then quickly weakened, recovering its losses to close at 887.42 yuan/gram, an increase of 0.03%. 1. On Wednesday, the US June PPI fell 0.3% month-on-month, the largest drop since April 2025, while the market had expected it to remain flat; Mays data was revised down from 1.1% to 0.6%. The June PPI rose 5.5% year-on-year, lower than Mays 6.0%. The unexpected decline in June producer prices further indicates that US inflationary pressures are gradually easing ahead of the recent escalation of conflict in the Middle East. Cooling expectations of a Fed rate hike provided some support for gold prices. However, reports indicate that Federal Reserve Chairman Warsh told US lawmakers that the Fed has not yet achieved its mandate to maintain price stability, but declined to reveal how or when it will address this issue, potentially weakening market expectations for a positive PPI. 2. Geopolitically, the US-Iran conflict continues to escalate, with no signs of de-escalation. According to Reuters, the US launched strikes on Iranian coastal defense facilities and missile bases on Wednesday after reimposing a naval blockade on Iranian ports; Iran, in turn, threatened to cut off energy exports from more regions and stated it was waging a "war for the survival of the nation" with the US. Amid this escalating situation, market risk appetite has further declined, and gold prices are likely to trend weakly with a period of recovery.

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.