May 2010 Edition
ANTI-DUMPING
Dumping investigations are initiated when a country suspects that its domestic industry is threatened by imports sold at unfairly cheap prices. They may result in the levelling of extra duties on "dumped" goods. According to the World Bank, the number of investigations initiated rose during the global economic crisis. The number of new cases in 2008 was 101, up from 73 in 2007. Last year the number went up again to 106. In 2009, developing countries were behind 70 per cent of the cases, up from 58 per cent in 2007.
RAIL
A program to reduce train congestion in the Chicago area is getting a boost with US$100-million in federal stimulus money for 16 rail projects. It is intended to unclog bottlenecks that cause freight trains to take a day or longer to pass through Chicago and block passenger trains and vehicles. The project, which will include overpasses or underpasses and track and signal improvements, hopes to cut rail transit delays by 57,631 passenger hours per year and reduce motorist delays by 344,499 hours annually for a combined savings of nearly $10-million per year.
WATER
Venezuelan officials are battling the effects of a severe drought by sharply increasing rates for people who use too much water. Venezuelans who consume more than 10,567 gallons (40,000 litres) a month will be charged three times the normal rate. The drought has caused water levels to drop to critical lows behind the Guri Dam which supplies roughly 70 per cent of Venezuela's electricity.
DRINK
French exports of expensive Champagne and cognacs suffered a record drop last year as people drank less and switched to cheaper brands in the U.S. and Britain, its biggest foreign markets. Exports of wines and spirits fell 17 per cent to US$10.5-billion last year, the largest ever one-year drop and the first decline since 2004. France is the world's biggest exporter of wine and spirits. Exports of Champagne fell by 28 per cent and cognac sales slid by 15.6 per cent. U.S. imports of French wine tumbled 22.7 per cent last year while sales to Britain were down 20.2 per cent
AID
Foreign aid to poor countries from the rich countries in the OECD's Development Assistance Committee will reach a record US$107.4-billion this year. Although the rich members of the European Union promised in 2005 to give 0.51 per cent of their GDP as aid by 2010, only some with reach that target. France, Germany, Austria, Portugal, Greece and Italy will all miss it. Some, like Sweden and Luxembourg will both give 1 per cent of GDP. Donors promised in 2005 to increase aid to Africa by $25-billion this year but the OECD estimates only half of this will materialize.
TRENDS
An itinerant footloose army of available and wiling retirees in their 60s and 70s is marching through the American outback, looking to stretch retirement dollars by volunteering to work in parks, campgrounds and wildlife sanctuaries, usually in exchange for camping space. Park and wildlife agencies say that retired volunteers have in turn become all the more crucial as budget cuts and new demands have made it harder to keep parks open. Work-campers come together in one place, leading nature walks or staffing visitor centres, typically working 20- to 30 hours a week before moving on to their next assignment.
TAXES
For post-communist Romanians, a Big Mac and soda meant much more than a meal: It was a culinary signpost from the free and capitalist west, a sign that they too had arrived. But now the Balkan country is moving to join the health conscious 21st century by proposing taxes on burgers, French fries, soda and other fast foods with high fat and sugar content. It is estimated that the new taxes could generate up to US$1.37-billion in new revenue, compared with $21.9-billion in total revenue for 2010.
VANCOUVER
The Conference Board of Canada forecasts that the Olympic effect will give Vancouver's economy enough of a boost to make it the top economic performer among Canadian cities this year. The Board estimates that Canada's third-largest city will see economic growth leap by 4.5 per cent this year after shrinking 1.8 per cent in 2009. In addition to the boost provided by the Olympic Winter games, housing construction and consumer spending are expected to rebound strongly in Vancouver.
RUNNING
New research suggests that we don't throw away our old fashioned plimsolls as they may be better for us than high-tech trainers. Running barefoot or in shoes with little padding, encourages runners to land on the ball of their feet, reducing the impact to almost nothing. Most runners wearing trainers today land on their heels almost exclusively, the research shows. The average runner strikes the ground 600 times per kilometre making runners prone to repetitive stress injuries.
POWER
China vaulted over competitors in Denmark, Germany, Spain and the United States last year to become the world's largest maker of wind turbines and is poised to expand even further this year. China has also leapfrogged the West in the last two years to emerge as the world's largest manufacturer of solar panels. The country is also pushing hard to build nuclear reactors and the most efficient types of coal power plants. These efforts to dominate renewable energy technologies raise the prospect that the West may trade its dependence on oil from the Middle East for a reliance on solar panels, wind turbines and other gear manufactured in China.
GREEN
Playing golf and remaining green can be a problem especially if you tend to land in water hazards where it is estimated that it takes between 100 and 1,000 years for a golf ball to decompose naturally. Now, a Spanish golf ball manufacturer has invented a ball that not only dissolves upon contact with water, but is made of fish food. The "Ecobioball's " outer layer is made of recyclable plastic polymer that degrades completely within 48 hours to reveal a dense inner ball of fish food.
SAFETY
An estimated 120-billion riders enter about 750,000 elevators in the United States each year and these devices represent one of the safest ways to travel. But every year, about 2,640 elevator injuries, severe enough to require a visit to the emergency room, occur among the elderly who often have vision and balance problems. Misalignment of the elevator floor and the floor of the hallway is also a common cause of injury.
TRADE
A free trade agreement between Peru and China has now come into effect. Peru's exports to China are expected to increase 17 per cent to US$4.7-billion. Total trade with China last year was $7.1-billion, up from $5.3-billion in 2007. Peru is the second South American country to sign a free trade deal with China, the other is Chile. Peruvian exports to China are mainly metals: copper, lead, zinc, iron and fish products. China sells phones, motor vehicles and footwear. Peru already has a free trade deal with Canada and trade last year was worth US$2.3-billion.
GROWTH
Wal-Mart Stores Inc. says it will create up to 6,500 jobs in retail and construction this year as part of a plan to open 35 to 40 massive supercentres in Canada. More than half of the locations will be entirely new stores or relocations and expansions. The remainder will be renovations of existing store layouts. Wal-Mart's investment will add up to almost US$500-million creating 2,000 jobs in construction and 4,500 employees at the retail level. The is will bring its total number of stores in Canada to 325 from 280 which includes 124 supercentres. It already employs more than 70,000 people across Canada.
BREAKFAST
Restaurant breakfast sales across the U.S. are down sharply and analysts blame the troubled economy for the dip because fewer Americans are going to work in the morning. At the same time, staying in has become cheaper. The price of eating at home fell by 2 per cent in the past 12 months, while food in restaurants rose by 1.6 per cent. Orange juice (U.S. frozen concentrate) is up 61 per cent, while eggs are up 2 per cent and bacon (U.S.frozen pork bellies) has risen 18 per cent. Coffee is up 5 per cent globally.
PLASTIC
British scientists have developed food packaging made from sugar. Although there are already plastics on the market made from natural materials like corn, these do not biodegrade quickly. The new discovery would not only cut down on the use of oil that is usually used to make plastic, but potentially enable people to compost plastic at home. Plastics made from oil can take hundreds of years to decompose but the new material would break down in a matter of months. Around seven per cent of worldwide oil and gas resources are consumed in plastic manufacture, with worldwide production exceeding 150-million tons annually.
TRANSPORTATION
There are more than 12,000 RV-related businesses in the U.S. with combined annual revenue of more than US$37.5-billion. RV shipments in January totalled 15,800 units, more than double the number shipped January of 2009. RV shipments are projected to total 215,900 in 2010, a gain of 30 per cent from 2009 shipments as dealers restock reduced inventories.
E-WASTE
Electronic waste is becoming an increasing problem in developing countries as sales of electronics surge and enforcement of environmental laws remain lax. The UN says developing countries like China and India risk serious consequences to the environment and human health unless they institute proper e-waste collection and recycling programs. By 2020, e-waste from mobile phones in China will be about seven times greater than it was in 2007 and waste from computers will be five times greater. The growth in India is even worse. In 2010 China will produce 2.3-million tonnes of e-waste second only to the U.S.
MOVIES
Movies in 3-D are becoming such big potential money makers that Hollywood studios are cramming them into U.S. theatres, even though there are not enough screens available to give each film its fullest possible run. About 3,000-to 4,000 3-D-ready screens are available now in the U.S. and Canada. Typically, a movie might be shown on about 10,000 screens.
PIRACY
An industry report estimates that the growth in illegal file-sharing could cost European countries 1.2-million jobs and US$500-billion by 2015. It claims that without measures to curb piracy, the UK alone could lose up to 250,000 jobs. The report studied the impact of web piracy in Germany, UK, France, Italy and Spain.
DATA
A recent U.S. Commerce Department report highlights the differences between official trade statistics produced by the U.S. and China. The analysis found that official Chinese data on exports to the U.S. are typically lower than official U.S. data on imports. Similarly, China reports higher imports from the U.S. than the U.S. reports that it exports to China.
BARBIE
In her 51 years, the toy doll Barbie has held 125 jobs. She has been an astronaut and a rock star but has moved on. Her latest career is that of a computer engineer.
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