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On July 6th, Tatsuo Yamazaki, former head of Japans foreign exchange policy and former finance minister at the Ministry of Finance, stated in an interview that the yen should appreciate by up to 20% from its current level (approximately 130 yen to the US dollar), refuting bets that the yen might weaken further. Yamazaki stated, "This is no longer a fundamental issue, but rather a question of how market expectations will change. But we are approaching a climax." He believes that the current estimate of the yen being undervalued by 10% is likely conservative. "I wouldnt be surprised if the yen rises to around 130. Frankly, thats my view." At the same time, Yamazaki suggested that the market should not mistake the recent apparent calm from Japanese authorities for complacency. He stated, "They have issued warnings, and anyone still holding short yen positions knows they face the risk of intervention and punishment—forced liquidation. The Ministry of Finance has gone beyond the warning stage; the authorities have indicated their willingness to take action."July 6th - In the third quarter of 2026, Shenzhen plans to launch 30 new residential projects, with an estimated supply of 882,821 square meters and 7,212 units. This includes: 770,222 square meters of residential space (6,929 units); 100,855 square meters of commercial apartments (184 units); 7,595 square meters of commercial space (63 units); and 4,149 square meters of office space (36 units).Germanys construction PMI for June was 44.8, compared to 42.4 in the previous month.Ukrainian President Zelensky: Following Russias attack on Kyiv, we call on NATO to take strong action.Samsung Electronics announced on Monday that its semiconductor business employees will receive performance bonuses of up to 100% of their base salary for the first half of this year. This generous bonus level is consistent with the second half of last year and will be distributed on Wednesday. The bonuses come as the semiconductor industry enters an unprecedented AI supercycle, with shipments of high-bandwidth memory (HBM) continuing to climb. Analysts estimate that Samsungs memory chip division generated approximately 140 trillion won (about $91 billion) in operating profit in the first half of this year alone. Full-year operating profit is likely to approach 350 trillion won. Samsung is scheduled to release its second-quarter earnings guidance on Tuesday.

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.