DILI, TIMOR-LESTE (25 September 2024) — Timor-Leste’s economic growth momentum will continue in 2024–2025, though at a more modest pace than forecast in April 2024 due to lower government expenditure and weaker investment spending than previously expected, according to a report by the Asian Development Bank (ADB).
The Asian Development Outlook (ADO) September 2024 reports that robust private consumption, fueled by consumer credits, government transfers, personal remittances, and tourist arrivals should drive growth. However, the forecast has been revised down to 3.1% for 2024 and 3.9% for 2025 from the 3.4% and 4.1% projected in ADO April 2024, respectively, due to slower-than-expected budget spending.
“Ensuring investment project readiness, improving public procurement practices, and strengthening institutional capacity are essential for maximizing the positive impact of public capital investments on economic growth,” said ADB Country Director for Timor-Leste Stefania Dina. “To sustain robust economic growth beyond 2024, we must embrace public financial management reforms and strategic policy shifts. By optimizing development finance opportunities and protecting government resources, such as the Petroleum Fund, we can build a brighter future for Timor-Leste.”
Due to lower inflation in staple products and consumer durables and persistently low inflation in nontradables, average inflation will moderate to 3.4% in 2024, revised down slightly from the previous 3.5% forecast. The report’s 2.9% inflation forecast for 2025 remains unchanged from ADO April 2024. The current account deficits will remain large but slightly less than the previous forecasts due to lower imports of goods and services in line with slower budget spending.
Risks to Timor-Leste’s growth outlook stem from lower public capital spending, climate-related disasters, and the impact of external shocks and spillovers mainly associated with prolonged global geopolitical tensions on trade conditions and inflation.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
Source: United States Senator for Florida Marco Rubio
Rubio, Colleagues to Biden-Harris Officials: Individuals Tied to Cuban Regime Are Not Welcome
Sep 24, 2024 | Press Releases
Under U.S. law, any individual who has been, or is affiliated with a Communist Party is deemed inadmissible for entry into our nation. However, under the Biden-Harris Administration’s mass immigration program, it’s been reported that individuals tied to the…
read more
Rubio Applauds House Passage of USCIRF
Sep 24, 2024 | Press Releases
The United States Commission on International Religious Freedom (USCIRF), created by the International Religious Freedom Act of 1998, is a bipartisan commission that monitors and reports on international religious freedom. The commission’s authorization is currently…
read more
Rubio, Scott Support Florida Request for Pre-landfall Emergency Declaration
Sep 23, 2024 | Press Releases
Potential Tropical Cyclone Nine, soon to be Hurricane Helene, is expected to make landfall in Florida as a major hurricane later this week. The storm will bring strong winds, heavy rain, severe storm surge, flooding, and hazardous seas to Florida’s impacted areas….
read more
ICYMI: Rubio, Clement Present Plan to Stop Antisemitism on College Campuses
Sep 23, 2024 | Press Releases
Congress Can Protect Jews on College Campuses U.S. Senator Marco Rubio (R-FL) and Paul Clement September 23, 2024 Wall Street Journal The ancient poison of antisemitism has infected American higher education…. Campus antisemitism isn’t restricted to…widely publicized…
read more
ICYMI: Rubio Joins Face the Nation
Sep 22, 2024 | Press Releases
U.S. Senator Marco Rubio (R-FL) joined Face the Nation to discuss foreign election interference, threats to President Donald Trump’s life, the impact of illegal mass migration on communities across America, and more. See below for highlights and watch the full…
read more
Rubio, Colleagues to Garland: Tren De Aragua Continues to Terrorize Our Nation
Sep 20, 2024 | Press Releases
Tren de Aragua, a criminal Venezuelan transnational organization known for committing major international crimes such as human trafficking, drug-trafficking, arms trafficking, and money laundering, continues to terrorize communities across our nation. Following calls…
Source: United States Senator for Florida Marco Rubio
Rubio, Colleagues to Biden-Harris Officials: Individuals Tied to Cuban Regime Are Not Welcome
Sep 24, 2024 | Press Releases
Under U.S. law, any individual who has been, or is affiliated with a Communist Party is deemed inadmissible for entry into our nation. However, under the Biden-Harris Administration’s mass immigration program, it’s been reported that individuals tied to the illegitimate Cuban regime have entered the U.S. and are now residing here.
U.S. Senator Marco Rubio (R-FL) led colleagues in sending a letter to U.S. Secretary of State Antony Blinken and U.S. Secretary of Homeland Security Alejandro Mayorkas calling for a review of the procedures for making determinations on entry and promptly removing those Cuban regime members from our country.
“The United States must ensure that former Cuban regime members involved in the oppression of innocent Cuban citizens or the transnational persecution of Cuban-Americans are not welcome into our country. Additionally, applicants who have been found to have similar troubling backgrounds, and links after arrival, should not be allowed to continue to remain in the United States… We urge the administration to publicly communicate the vetting procedures and standards by which these immigration decisions are made, in order to ensure the utmost transparency and accountability.”
Joining Rubio were U.S. Senator Rick Scott (R-FL) as well as U.S. Representatives Carlos Giménez (R-FL) and María Elvira Salazar (R-FL).
The full text of the letter is below.
Dear Secretary Blinken and Secretary Mayorkas:
We write with serious concern about the Biden-Harris Administration’s decision to grant parole to Cuban Revolutionary Air Force Colonel Luis Raúl González-Pardo Rodríguez. As you are no doubt aware, González-Pardo is notoriously linked to the international incident of February 24, 1996, when two planes belonging to the humanitarian organization, Brothers to the Rescue, were unconscionably shot down by Cuban MiG-29 fighter jets under orders of Raul Castro. This incident tragically resulted in the deaths of four innocent Cuban-American pilots.
More disturbingly, this negligent oversight comes in the wake of another ill-considered decision to admit former high-ranking Cuban Communist Party regime member Manuel Menendez Castellanos, implicated in acts of oppression against the Cuban people. Taken together, these outcomes, among others, erode confidence in the competence of the administration to recognize threats to the United States and ensure those who have done us harm are not able to enter the United States.
We call on the Biden-Harris Administration to immediately review and revise the procedures used by U.S. Department of Homeland Security and U.S. Department of State for making determinations on whom it grants entry, whether it be humanitarian parole or immigrant/nonimmigrant visas. The current process, by virtue of the unacceptable results annotated above, has demonstrated its woeful inadequateness to properly vet applicants and to protect U.S. national security.
The United States must ensure that former Cuban regime members involved in the oppression of innocent Cuban citizens or the transnational persecution of Cuban-Americans are not welcome into our country. Additionally, applicants who have been found to have similar troubling backgrounds, and links after arrival, should not be allowed to continue to remain in the United States. We also urge the administration to publicly communicate the vetting procedures and standards by which these immigration decisions are made, in order to ensure the utmost transparency and accountability. Sincerely,
Source: United States Senator for Florida Marco Rubio
Photo courtesy of the National Religious Broadcasters association.
On September 19, U.S. Senator Marco Rubio (R-FL) spoke to the National Religious Broadcasters association on the importance of faith-based messaging.
“The most important thing the government can do is protect the institutions that are the fiber of the nation: the family, the community, and the faith…. Your mission is to bring Christians news and information in a manner that’s consistent with their values and hopefully inspires them to live up to those values…. Our job is to ensure that your right in this country to do that remains unencumbered..” – Senator Rubio
See a lightly edited transcript below.
You’re going to hear a lot from people about politics and issues today, and I’m more than happy to talk about that. Who am I to warn you against being hyper-political? It’s what I do for a living. And when I was a state legislator, we used to beg people to be interested in politics. But now, it’s the only thing people want to talk about. There’s no space in our life into which politics hasn’t intruded.
The laws we pass are important. People have legitimate concerns about where the country is headed. There are laws that are making it harder for people of faith to participate in the public square. But I try to remind people around me and in my life, many of whom have become consumed by politics, of a couple things. The first thing I try to remind them of is that we cannot make politics and government our god.
Sometimes I hear people of the Christian faith say, “My God, things are so terrible!” But of all the faiths on this planet, the one that knows how the movie ends is ours. And it ends in tribulation. It ends in difficulties. That’s what was promised. Of course, in every generation, Christians are like: “I know it’s all going to happen, and I can’t wait for Jesus to come back, but not now! Not while I’m here! I just want to skip to the end!” But we have to hold true to what is ultimate.
Governments rise and fall. Nations come and go. But for 2,000 years, the one constant in the lives of people of the Christian faith has been our belief that we’re going to live in a new heaven and a new earth, and that it’s going to be as it was originally intended to be before man’s fall. That doesn’t mean we don’t pay attention to the issues of our time. It doesn’t ask us to be hermits. It doesn’t ask us to isolate ourselves. It certainly calls for us to actively live out our faith. But I also don’t think we can let that lead us into anxiety.
In that, I’m reminded of the early Church. The reason why early Christianity spread is not because they conquered with an army. It isn’t because they had more money or more power. In fact, they had none. It’s because the Romans kept doing horrible things to these people, and yet they would go to their deaths singing songs, full of joy, and being kind to their oppressors. Eventually, a bunch of pagans said, “I want the joy those people have.”
They said: “We’ve tried everything. We’ve worshiped all these gods. We’ve forgotten all the gods we worshiped. We’ve sacrificed. We’ve done this, we’ve done that. I want the happiness that these Christians have. What is this secret that they have that the rest of us can’t seem to achieve, despite everything we’ve tried?” It was the power of that example, more than anything else, that allowed the Spirit to work in the world.
The second thing I try to remind people of is that America is not a government. Oftentimes, when people discuss the state of America, they’re actually discussing the state of our politics or the sake of our government. And what we forget is that America is not a government. America is a nation. And what is a nation? At its most basic level, a nation is made up of this: families living in communities.
The most important house in this country is not the White House. It is your house. It’s the first school. It’s the first government. And it’s where we acquire values. Do you realize that everything that tastes good and feels good is bad for you? Why don’t leafy greens taste like ice cream? Why is the stuff that’s good for you, you have to put stuff on it to make it palatable? I think the same is true when it comes to human nature.
Despite all the advancements and our fancy technology, human nature is the same today as it was 5,000 years ago, which is why when we read the Old Testament, those stories seem like they could’ve been written yesterday. We may dress differently, we may use different devices, we may advance scientifically, we may travel to the stars, but human nature is unchanged. That is why history repeats itself. And human nature needs to be controlled. Left to our own nature, left to do whatever we want, we would not live in a good world.
Where do you learn what is good and what is bad, what is right and what is wrong, both collectively and individually? Something has to inform you that murder is evil, because murder is legal in the animal kingdom. It happens there all the time. But humanity has decided that murder is wrong, enslaving someone is wrong, physically abusing someone is wrong, denying the right to speak freely is wrong, denying the right to worship freely is wrong. Where do these ideas come from? They don’t come from human advancements, because human nature hasn’t changed. They come from a system of values.
In this, particularly because I am a Christian, I believe our faith system is an extraordinary asset to the country. You don’t have to convert. You have the right to believe anything you want. But from a practical point of view, why would we ever want to constrain or oppress a system of belief that says: “Treat others the way you want to be treated. Love your enemy. Forgive them. Take care of the widow and the hungry.”
The concept of the widow today is lost on people. If you were a widow 2,000 years ago, you were in big trouble. There was no welfare system. There were no food stamps. There were none of these programs out there. You were on your own, by yourself, with no one to help you, unless you had children to take care of you.
To me, Christianity is a system that teaches you not just to help the widow, but to have compassion for the less fortunate, to serve those in need selflessly, not selfishly. Why do we not want that to infuse our culture and society? Even if, ultimately, you don’t believe in the inspirations for those things, why would you not want something like that to be protected and vibrant under our laws? I think any country would be stronger with that.
And it explains a lot of our history. To this day, Americans feed more people, clothe more people, house more people all over the world than almost all the other countries of the world combined. If there’s a landslide somewhere today, if there’s a flood, an earthquake, or a volcanic eruption, I guarantee you that some faith-based organization in America will be one of the first to respond. And then you add to that foreign aid. (Although that has become controversial lately, and we have to address our own needs as well.)
Why is that? Because there are other wealthy countries that have no tradition of giving whatsoever. To me, the answer is our faith system. When you have instilled in the values of your country to help the less fortunate, it doesn’t mean to help the less fortunate only in your county, your city, your state, or your country. It means we see someone suffering somewhere, and we feel compelled to do something about it. And I’m not talking about just rich people. I’m talking about people that give $50 a month.
Where does that come from? That comes from a system of values grounded in a faith system. It is a national imperative for our country. Not to mention the importance of family and the importance of parenting. Children are not a burden. We should never be a nation that feels that a human life is a burden instead of a blessing. When people talk about things that way, we have to think about what a reflection it is on our society and culture.
What I’m saying is, we can pass a lot of laws, and we can elect great people, but many of the problems we are confronting as a nation go well beyond the government. Government can tell you what’s legal. It cannot tell you what’s right or wrong. Government can punish and reward. It cannot teach people to do good instead of bad, or to care for one another, or to live in community. That’s why I believe the most important thing that the government can do is to rebuild our families so they can live in dignity.
There are things the government can do to help. I think it’s hard to have strong families and strong communities without dignified work. There are great things that the free enterprise system has created, more things than all the other economic systems man has tried. But we have to prioritize dignified work. Man was meant to work. Work is actually a form of worship. In fact, it’s one of the first commandments that mankind received. No matter what the job is, whether you’re a senator or anything else, your work is a way of worshiping your Creator.
But the most important thing the government can do is protect the institutions that are the fiber of the nation: the family, the community, and the faith, which instill values that make us stronger as a result. In many ways, that is the mission that you’re called to. Your mission is to bring Christians news and information in a manner that’s consistent with their values and hopefully inspires them to live up to those values. From a government perspective, our job is to ensure that your right in this country to do that remains unencumbered.
Our own founding documents say our rights come not from the government, but from our Creator. Our country was founded on the belief that our rights are not what I decide they are because the people of Florida elected me, but what God has given us. My job is to protect those rights, not to decide what they are, or to decide which ones apply and which ones do not.
The role of religious broadcasting has a very important mission. It has a spiritual component to it, but it actually has a very strong civil component to it. I think it calls people to live out their faith. At a time when so much of the news and information that people are consuming is actually speaking to the worst of humanity, bringing out the worst in them, the ability to bring out the best in them is really a critical national treasure, one that we have to protect.
I don’t know how to operationalize this in terms of the laws. Oftentimes, good outcomes depend on the law we don’t pass, or something we keep from happening, which would impinge on your ability to fulfill what I think is a critical mission for our country. That mission is to ensure that we have strong families, strong communities, and children raised with the values that allow them to be productive, but also to be good citizens, and to always work for the common good.
Chief of Naval Operations Adm. Lisa Franchetti met with Argentine Chief of Navy General Staff Vice Adm. Carlos María Allievi for a formal bilateral engagement during the Inter-American Naval Conference, in Rio de Janeiro, Brazil, Sept. 23.
The two leaders discussed opportunities to strengthen their naval partnership and their shared commitment to maritime security. Franchetti also congratulated Allievi for the Argentine Navy’s robust participation in UNITAS LXV and Southern Seas 2024 and discussed future opportunities to exercise together.
During their meeting Franchetti noted that Argentina will greatly enhance regional and bilateral partnerships and maritime security as a new member of the multi-national naval partnership Combined Maritime Forces (CMF) and noted how the CMF enables participants to build their shared knowledge.
The two leaders also discussed Argentia’s recent fleet modernization efforts and Franchetti encouraged their participation in future Hybrid Fleet Campaigns – a learning campaign aimed at operationalizing new capabilities – led by U.S. Naval Forces Southern Command.
Franchetti stressed the U.S. and Argentina enjoy a strong partnership and share positive military-to-military ties based on shared values and interests.
Chief of Naval Operations Adm. Lisa Franchetti met Chief of the Chilean Navy Adm. Juan Andrés De La Maza for a formal bilateral engagement during the Inter-American Naval Conference, in Rio de Janeiro, Brazil, today.
The two leaders discussed opportunities for further collaboration and cooperation as they continue to build maritime capacity in the Pacific, to include increased opportunities for Professional Exchange Program officers.
Franchetti also congratulated De La Maza for the Chilean Navy’s leadership in major bilateral and multinational training events including serving as Deputy Commander of Rim of the Pacific (RIMPAC) 2024 as well as host for UNITAS LXV, and the launch of their new icebreaker, “Almirante Viel”.
During their discussion, Franchetti, expressed appreciation for Chile’s regional leadership, for their support of the USS George Washington (CVN 73) Carrier Strike Group during Southern Seas 2024, and discussed future opportunities for multilateral exercises in the coming years.
Franchetti regarded that Chile remains one the most strategic allies in Latin America and plays a key role in ensuring a Western Hemisphere that is democratic, prosperous and secure.
Chief of Naval Operations Adm. Lisa Franchetti met with Commander of the Colombian Navy Vice Adm. Juan Ricardo Rozo Obregón for a formal bilateral engagement during the Inter-American Naval Conference, in Rio de Janeiro, Brazil, Sept. 23.
The two leaders discussed ways to continue to strengthen their long-standing naval partnership and expand collaboration to promote regional security and stability to support the rules-based international order.
Franchetti said she was very grateful for the Colombian Navy’s role as a regional leader, demonstrated through their participation in exercises such as UNITAS LXV and partnership during Southern Seas 2024. The Heads of Navy said they look forward to future opportunities to exercise together.
During their meeting they also talked about the Diesel Electric Submarine Initiative and how it strengthens their interoperability and their shared commitment to countering illicit maritime operations.
Chief of Naval Operations Adm. Lisa Franchetti met with Vice Adm. Angus Topshee, Commander, Royal Canadian Navy for a formal bilateral engagement during the Inter-American Naval Conference, in Rio de Janeiro, Brazil, today.
The two leaders discussed opportunities to strengthen their naval partnership and operations in the Arctic and the Indo-Pacific and expressed their shared commitment to continental security, and to working in collaboration with regional and international Allies and partners to uphold the rules-based international order.
During their meeting Franchetti applauded Topshee for the Canadian Navy’s Arctic shipbuilding program and its expanded capabilities in Anti-submarine warfare, and reinforced the importance of multilateral cooperation with Arctic countries.
The leaders also discussed Franchetti’s recently released strategic guidance – the Navigation Plan for America’s Warfighting Navy – and how the changing character of war requires maritime officers to think, act, and operate differently. They stressed the need to operationally integrate the use of robotic and autonomous systems for missions such as maritime domain awareness, and the role of Information Warfare domain in command-and-control centers.
The Heads of Navy shared their initiatives to recruit and retain talent and said they look forward to future opportunities for their navies to train, exercise and operate together.
The Secretary-General met with H.E. Mr. Simon Harris T.D., Taoiseach of Ireland. The Secretary-General and the Taoiseach discussed the Summit of the Future, the implementation of the Pact for the Future, and efforts to galvanize support for multilateralism. They also discussed the wars in Ukraine and the situation in the the Middle East, including the war in Gaza.
The Secretary-General met with H.E. Mr. Félix-Antoine Tshisekedi Tshilombo, President of the Democratic Republic of the Congo. They discussed the situation in eastern Democratic Republic of the Congo and ongoing regional peace efforts. The Secretary-General reiterated the United Nations’ support for regional peace initiatives.
****
Le Secrétaire-Général s’est entretenu avec S.E. M. Félix-Antoine Tshisekedi Tshilombo, Président de la République démocratique du Congo. Ils ont discuté de la situation dans l’est de la République démocratique du Congo et des efforts de paix régionaux en cours. Le Secrétaire général a réitéré le soutien des Nations Unies aux initiatives de paix régionales.
Today, Prime Minister Justin Trudeau met with the President of Ukraine, Volodymyr Zelenskyy, on the margins of the 79th Session of the United Nations General Assembly.
Prime Minister Trudeau reiterated Canada’s condemnation of Russia’s ongoing war of aggression against Ukraine, including its horrific targeting of civilians and energy infrastructure. The Prime Minister reaffirmed Canada’s commitment to continue providing military, financial, humanitarian, development, and other assistance to Ukraine as it fights to preserve its sovereignty, territorial integrity, and independence.
The two leaders discussed countering Russian misinformation and disinformation, and President Zelenskyy’s diplomatic efforts toward peace, including through Ukraine’s Peace Formula. They committed to continue building on the success of the recent Summit on Peace in Ukraine, and the Prime Minister underlined ongoing contributions to these efforts. This includes Canada’s co-leadership, with Ukraine, of the International Coalition for the Return of Ukrainian Children, and the meeting of foreign ministers on the human dimension of Russia’s war against Ukraine, to be hosted by Canada in October.
Prime Minister Trudeau and President Zelenskyy reaffirmed their intention to remain in close and regular contact.
Editor’s note: Chinese President Xi Jinping has consistently championed the rule of law throughout his political career. Since the 18th CPC National Congress in 2012, Xi put forward a series of new ideas, new thinking and new strategies to advance law-based governance in all respects. In this infographic, China.org.cn highlights key aspects of Xi Jinping Thought on the Rule of Law.
JOINT BASE ANDREWS, Md. — Senior enlisted leaders from across the Department of Defense and partner agencies gathered for the Defense Senior Enlisted Leader Council (DSELC) at Joint Base Andrews, Md., Sept. 23-24, 2024.
The bi-annual two-day event, led by the Senior Enlisted Advisor to the Chairman (SEAC) of the Joint Chiefs of Staff, U.S. Marine Corps Sgt. Maj. Troy Black, brought together key stakeholders to align strategies on quality of life, military compensation, and family support networks. The conference also focused on enhancing cooperation between DoD and the Department of Veterans Affairs, with a goal to improve care for service members, families, and veterans.
Key participants included Mr. John Hall, Director and CEO of the Defense Commissary Agency (DECA); Patricia M. Barron, Deputy Assistant Secretary of Defense for Military Community and Family Policy; Honorable Tanya Bradsher, Deputy Secretary of Veterans Affairs; Jeffrey P. Angers, Principal Deputy Assistant Secretary of Defense for Manpower and Reserve Affairs; Chief Master Sergeant of the Space Force John F. Bentivegna; and Master Chief Petty Officer of the Coast Guard Heath B. Jones.
The conference centered on discussions related to the SEAC’s Strategy Alignment, focusing on Quality of Life (QoL), the Quadrennial Review of Military Compensation (QRMC), and the Family Support Network (FSN). Leaders examined the challenges and opportunities within these domains, ensuring that the enlisted force is well-equipped and supported.
Mr. John Hall of DECA emphasized the agency’s commitment to service members and their families, outlining improvements in savings calculations, product stocking, Click2Go, off-installation delivery, and internal system modernization. His focus was on ensuring commissary services deliver increased benefits to those they serve.
Ms. Barron highlighted significant advancements in the Military OneSource program, which has expanded since the pandemic. She also spoke about initiatives in spouse education, career programs, and the Military Family Readiness Council—all geared toward taking better care of military families.
The Honorable Tanya Bradsher addressed improvements in VA programs, expanded healthcare coverage, and the ongoing effort to create better synergy between DoD and VA systems to provide a seamless experience for veterans.
Mr. Angers spoke on behalf of OSD P&R, discussing enhancements to the Basic Allowance for Housing (BAH) and planned adjustments to better support service members and their families. Chief Master Sergeant of the Space Force John F. Bentivegna provided an update on force design and management within the Space Force, emphasizing the importance of combat readiness and resource allocation. The Senior Enlisted Leaders shared lessons on force management and discussed how the Space Force can leverage its “fresh start” to avoid legacy issues faced by other services.
Master Chief Petty Officer of the Coast Guard Heath B. Jones spoke about the unique challenges and advantages the Coast Guard faces under the Department of Homeland Security, rather than the Department of Defense, particularly those surrounding budgets. He explained his reasoning for calling Coast Guardsmen “Sentinels,” drawing inspiration from Alexander Hamilton’s writings in Federalist Paper No. 12, where Hamilton envisioned how “a few armed vessels, judiciously stationed at the entrances of our ports, might at a small expense be made useful sentinels of the laws.” This early vision laid the foundation for what would become the U.S. Coast Guard, with the mission of protecting America’s shores and enforcing national laws. Jones connected this historical role to the modern-day mission of Coast Guardsmen, emphasizing their enduring role in safeguarding the nation’s coasts as vigilant protectors.
Additionally, spouses attending the conference participated in a separate briefing on the DoD School Liaison Program, which aims to empower military spouses to advocate for the educational needs of military children.
“We’re here to help improve anything and everything possible for the military family,” said Retired U.S. Marine Corps First Sergeant Stacie Black, the SEAC’s spouse. “As spouses, we have a wide set of experience as veterans, private industry professionals, and especially as customers of the military family support network. We’ve come together to share our culture and talents to support all the families like ours across the Armed Forces.”
In his closing remarks, SEAC Sgt. Maj. Troy Black stressed the importance of bringing together Senior Enlisted Leaders to address the issues impacting the enlisted force, families, and veterans. He emphasized that the engagements over the two days would help prepare the force for its ultimate mission: warfighting and war winning. The day concluded with a shared commitment to improving the quality of life and operational readiness of the U.S. Armed Forces.
A new study published in Nature Ecology & Evolution lifts the veil on what happens when octopuses and fish hunt together. As it turns out, this cross-species relationship is more complex than anyone expected.
Animals of the same species often cooperate – work together to reach some kind of goal. But it’s relatively rare to find cooperation between individuals from different species.
A classic example you’ll be familiar with is the close relationship between dogs and humans, whether in the context of herding sheep or hunting. In these situations, the dog and the human work together to achieve a goal.
That’s mammals. But underwater species also sometimes cooperate. A nice example is the joint hunting behaviour of moray eels and grouper. The grouper approaches the moray and signals that it wishes to hunt. The eel responds in kind, and off they go.
During these hunting forays, the grouper uses signals to indicate where prey may be hidden in the coral matrix. It’s a synergy made in heaven: the eel can scare the prey fish from hiding places among the coral, while the grouper patrols over the top. There is literally no place for prey to hide.
For the eels and grouper, the chances of catching their dinner are greatly improved when hunting together compared to hunting on their own.
Who’s in charge here?
While researchers have described these behaviours before, one question remains unanswered. Who, exactly, is in charge of these cross-species interactions?
Who decides what they are going to do, where and when? Are the different players “democratic”, in that they come to some form of compromise, or does one species take the lead and the other simply follows (that is, they are “despotic”)?
In an international collaboration, biologist Eduardo Sampaio and colleagues have investigated cross-species interactions between the usually solitary day octopus (Octopus cyanea) and several fish species, such as goatfish and groupers.
A day octopus hunting with a blacktip grouper and a gold-saddle goatfish. Eduardo Sampaio and Simon Gingins
The fish and the octopus share a common goal – to increase their hunting efficiency. The traditional view of octopus-fish hunting groups assumed that the octopus is the producer, and the fish simply follow along and opportunistically pick up the scraps.
With its long, flexible arms, the octopus explores all the nooks and crannies of the hunting ground, flushing out prey the fish can then take advantage of. In this scenario, the octopus would be solely in charge of decisions and the fish just follow (that is, it’s an exploitative, despotic relationship).
However, when researchers took a closer look, it appeared perhaps this relationship is not as simplistic as previously believed. But without fine-scale analysis providing hard evidence, it is difficult to work out the precise details of how this cooperation works.
A day octopus hunting with a blue goatfish, while a blacktip grouper waits. Eduardo Sampaio and Simon Gingins
What did the new study find?
Using sophisticated behavioural analyses of 3D videos captured from 120 hours of diving, Sampaio and team found that each partner in the interaction plays a specific role. There was, in fact, no true leader – they are democratic.
The fish were responsible for exploring the environment and deciding where to move, while the octopus would decide if and when to move. Interestingly, controlled experiments showed the octopuses were guided by social information provided by the fishes.
When partnered with blue goatfish, the octopus foraging tactics where more focused and efficient. When partnered with blacktip groupers, they were less so. So, the nature of the hunting relationship varied depending on who’s involved.
The researchers concluded that, overall, success rates for capturing prey were higher for the octopus when foraging with fishy partners.
The details revealed by this study suggest this relationship is far more sophisticated than other cross-species hunting associations examined to date.
Despite the huge evolutionary gap between these animals (the equivalent of about 550 million years), both fish and octopus show clear signs of social competence and advanced cognition.
Culum Brown does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United States Senator for Alaska Dan Sullivan
09.24.24
WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska) today applauded the efforts of the Alaska Eskimo Whaling Commission (AEWC) and many others for their efforts at the 69th International Whaling Commission (IWC) meeting in Lima, Peru to renew Alaska’s subsistence whaling quota for six more years. The measure passed yesterday by consensus.
“Today, we celebrate the preservation of subsistence whaling, a cultural practice our Alaska whalers have sustainably conducted for thousands of years,” said Sen. Sullivan. “This quota renewal is the result of hard work from the AEWC, represented in Peru by Chairman John Hopson Jr., Vice Chair Crawford Patkotak, and North Slope Borough Mayor Josiah Patkotak, and many others. Prior to the IWC meeting, John, Crawford, Josiah, other members of the AEWC and I met with senior executive branch officials and more than 20 different embassy representatives in the Capitol. This event was a pivotal opportunity to educate our global partners and our own federal government about our whalers’ priorities. Alaska and America couldn’t ask for better ambassadors than our whaling captains. I want to thank everyone involved who made this success happen, including a dedicated member of my staff, Mary Eileen Manning, who attended the Commission meeting in Peru, the U.S. Commissioner, and the entire U.S. delegation to the IWC. Congratulations to all of our whaling communities throughout the North Slope and the Bering Straits region!”
The 2024 renewal built upon the successful 2018 renewal, when the U.S. delegation secured a streamlined quota renewal commitment.
Background:
As the ranking member of the Senate Commerce Oceans, Fisheries, Climate Change and Manufacturing Subcommittee—which has jurisdiction over our nation’s oceans, fisheries, and marine mammals, including whales—Senator Sullivan has relentlessly championed the efforts of Alaska Native whalers to continue the subsistence harvest of whales.
In September 2024, the Alaska delegation sent a letter to embassies of IWC member countries, again reiterating the importance of subsistence whaling.
In the lead up to the 2024 IWC meeting in Peru, Senator Sullivan hosted representatives from the Alaska Eskimo Whaling Commission, the North Slope Borough, and the Biden administration in a strategy meeting to educate global partners and the federal government about Alaska whalers’ priorities.
Following the July 2024 meeting in Washington D.C., Senator Sullivan hosted a reception in the Capitol on the significance of subsistence whaling to the cultures and livelihoods of thousands of Alaska Native people. Speakers at the reception included Sen. Sullivan, Sen. Lisa Murkowski (R-Alaska), North Slope Borough Mayor Josiah Patkotak, AEWC Vice Chairman Crawford Patkotak, AEWC Chairman John Hopson, Jr., AEWC Secretary Herbert Kinneeveauk III, National Marine Fisheries Service (NMFS) Director Janet Coit, and Deputy Assistant Secretary of State Mahlet Mesfin.
In September 2018 at the 67th IWC meeting in Brazil, the AEWC secured a renewal of its subsistence whaling quota for seven more years and, for the first time, the automatic renewal of its whaling quota as long as harvests remain sustainable. The measure passed by a vote of 58 to 7.
In the lead up to the 2018 IWC meeting in Brazil, Sen. Sullivan kept in close communication with senior leadership at the U.S. State Department and the National Oceanic and Atmospheric Administration (NOAA), and sent his legislative director to the IWC meetings in Brazil to serve on the U.S. delegation.
In August 2018, the Alaska delegation sent a letter to embassies of IWC member countries, reiterating their commitment to subsistence whaling.
In July 2018, Senator Sullivan convened a strategy meeting in the Capitol with AEWC, the State Department, and NOAA to ensure continued coordination and foster direct high-level engagement. Afterward, Sen. Sullivan led a reception, hosted by the Alaska congressional delegation, for ambassadors and diplomatic officials of IWC member embassies.
In April 2018, Senator Sullivan, alongside Senator Murkowski, introduced and passed out of the Senate Commerce Committee the Whaling Convention Amendments Act of 2018—which authorized the Secretary of Commerce to preserve the bowhead whale subsistence harvest and Alaska Native food security under U.S. law if the IWC had failed to act on the bowhead whale quota during their meetings in Brazil.
Subsistence Whaling and IWC Background:
Worldwide whale stocks are managed through the International Whaling Commission, a group of 88 countries that have ratified the International Convention for the Regulation of Whaling. The Whaling Convention Act of 1949 is the relevant U.S. implementing legislation.
The convention allows for the harvest of certain whale species for nations that certify either a cultural or subsistence need for their aboriginal population. Russia, Denmark (for Greenland), the United States, and St. Vincent and the Grenadines are those nations who currently practice Aboriginal Subsistence Whaling (ASW).
The subsistence harvest in Alaska is sustainable and non-commercial. The IWC has consistently certified that the biological status of Alaska’s bowheads is sustainable.
Source: United States Senator for Maine Susan Collins
Washington, D.C. – Today, U.S. Senators Susan Collins and Mark Warner (D-VA) introduced two bipartisan, bicameral bills that would allow family caregivers to better save for retirement. These bills—the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act—would help address the financial challenges faced by individuals who leave the workforce to care for loved ones, often sacrificing their own long-term financial security. Companion bills were introduced in the U.S. House of Representatives by Congresswomen Maria Elvira Salazar (R-FL-27) and Brittany Pettersen (D-CO-07).
“Family caregivers provide critical support to their loved ones, yet many are forced to step away from work, significantly inhibiting their ability to save for retirement,” said Senator Collins. “Our bipartisan bills would give these individuals a better opportunity to build a secure financial future and help ensure they are not penalized for the vital care they provide.”
“Family members often make tremendous sacrifices to leave the workforce and care for their aging relatives, and as a result, they miss out on key years of saving for their own golden years,” said Senator Warner. “We need to make it easier for those folks to continue their essential care work while also securing their own financial futures. I’m proud to introduce bills that would give these family caregivers the flexibility to continue contributing to retirement accounts so it’s easier for more people to care for aging relatives without obstructing their own ability to retire with dignity.”
“Caregiving is one of the most important jobs, but our current policies penalize selfless Americans who look after their loved ones,” said Representative Salazar. “I’m proud to co-lead the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act, which will reward caregivers with new opportunities to secure a dignified retirement.”
“Caregivers do some of the most important but underappreciated work in our country,” said Representative Pettersen. “Caregivers do everything from cooking meals, administering medications, paying bills, and driving their loved ones to frequent medical appointments. Caregivers often take a significant financial hit when they take time out of the workforce to prioritize their loved ones and many struggle with their own financial security and ability to save in the long term. These two pieces of legislation make it easier for caregivers to save for retirement, ensuring they can take care of their own financial health while caring for their family.”
“Caring for a loved one living with Alzheimer’s or other dementia too often takes a devastating toll on caregivers, with many experiencing substantial emotional, financial and physical difficulties,” said Robert Egge, Alzheimer’s Association Chief Public Policy Officer and AIM president. “These two bipartisan bills will support our nation’s dementia caregivers by improving access to retirement resources that can help offset some of the financial challenges faced by families impacted by this disease. Thank you to Sens. Collins and Warner for introducing these bills and for your dedication to the Alzheimer’s community.”
“Edward Jones is grateful for Senator Collins’ leadership in introducing the Improving Retirement Security for Family Caregivers Act and Catching-up Family Caregivers Act,” said Dr. Lamell McMorris,Principal and Head of Policy, Regulatory & Government Relations for Edward Jones. “We know through our experience, that caregivers make significant sacrifices in providing care to loved ones, which can impact their personal financial security and retirement readiness. We believe that this bipartisan legislation will provide savings opportunities to improve the financial futures of millions of Americans and their families.”
“Business leaders and HR professionals are responsible for designing and implementing benefit plans that meet the needs of their team members. However, too often, caregiver support is not considered. People are living longer, and workers are caring for both children and elderly parents simultaneously. If we intend to lead with empathy, providing employees with the opportunity to care for ill, injured, or aging loved ones must be a priority,” said Emily M. Dickens, Chief of Staff and Head of Public Affairs, SHRM. “That is why we are honored to support the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act. SHRM is pleased to see the bipartisan progress in Congress being made to help employees reconstitute their retirement nest egg after a period of intensive caregiving.”
“Family caregivers often pause their careers and retirement savings to provide essential care for loved ones, a service vital to both families and the economy. However, this time away from paid work can result in reduced income and benefits, potentially leading to future financial difficulties, particularly in retirement,” said Jason Resendez, CEO & President of the National Alliance for Caregiving. “If enacted, the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act would represent progress towards acknowledging and addressing the economic sacrifices too many family caregivers make.”
Women often take time away from careers to care for their families, resulting in a significant loss to their retirement savings. According to the Center for American Progress, an average 26-year-old female making $60,000 a year who leaves the workforce for five years to care for her children will lose close to one million dollars over her lifetime due to lost retirement assets and wage growth. A recent study from the Edward Jones Grassroots Taskforce found that 64 percent of women say their caregiving duties have negatively impacted their ability to save towards their long-term financial goals. Those taking care of an aging parent often face similar repercussions to being a family caregiver. In 2020, AARP found that three in ten caregivers have stopped contributing to their savings. Therefore, these proposals would allow those who dedicate at least 500 hours to family caregiving and are unemployed or severely underemployed the ability to contribute to their retirement now and later.
The Improving Retirement Security for Family Caregivers Act would allow family caregivers to contribute up to $7,000 annually to a Roth IRA, even if their income falls below that threshold. Current law caps contributions at the lower of $7,000 or yearly income, limiting caregivers’ ability to save for retirement when their earnings are reduced due to caregiving responsibilities. By eliminating this income cap for family caregivers, the bill would help to ensure that they can continue to save for retirement despite their reduced wages.
The Catching Up Family Caregivers Act would allow family caregivers to make catch-up contributions to employer-sponsored retirement plans, an option typically reserved for those over age 50. For every year they are out of the workforce, caregivers could be eligible for an additional year of catch-up contributions, up to a maximum of five years. This provision would help caregivers who miss critical savings years get back on track with their retirement planning.
Both pieces of legislation are supported by the Alzheimer’s Association, the Edward Jones Grassroots Task Force, the Society for Human Resources Management (SHRM), the Insured Retirement Institute, and the National Alliance for Caregiving.
The complete text of the Improving Retirement Security for Family Caregivers Act can be read here.
The complete text of the Catching Up Family Caregivers Act can be read here.
Source: United States House of Representatives – Congressman Mark Amodei (NV-02)
WASHINGTON, D.C. – Rep. Mark Amodei (NV-02) issued the following statement following the House passage of S.612, the Lake Tahoe Restoration Reauthorization Act (LTRA), the Senate companion bill of his bill H.R. 1274, which reauthorizes program funding through September 30, 2034. The bill will now move to the President’s desk.
“It is our responsibility to keep the environment around beautiful Lake Tahoe in quality shape for future generations to enjoy,”said Rep. Mark Amodei.“The reauthorization of the Lake Tahoe Restoration Act will continue to provide the resources and oversight to do just that. I was proud to lead the effort in the House and am grateful to Senator Cortez Masto for her bicameral partnership in securing this sufficient funding which properly lays out program strategies to restore healthy water conditions, reduce wildfire threats and extract invasive species threatening the Lake Tahoe Basin and its surrounding community.”
“The Lake Tahoe Region is grateful to Congress for their leadership in passing this critical piece of legislation to continue the collaborative work to protect and restore Lake Tahoe,”said Tahoe Regional Planning Agency Executive Director Julie Regan.“Extending the federal investment in the EIP will leverage millions of dollars in state and local funding to implement the top priority projects for the lake and our communities.”
Background:
In 2023, Rep. Mark Amodei reintroduced the LTRA Reauthorization, originally introduced in 2021, along with the support of cosponsors Rep. Dina Titus (NV-01), Rep. Susie Lee (NV-03), Rep. Steven Horsford (NV-04), and Rep. John Garamendi (CA-08).
This bipartisan legislation extends $415 million in funding through September 30, 2034. By building on previous success, this reauthorization provides sufficient funding to environmental projects that restore healthy water levels, mitigate the risk of wildfires, control invasive species, and maintain quality environmental standards in the Lake Tahoe Basin.
Due to the significance of the situation, companion legislation was introduced in the U.S. Senate by Sen. Catherine Cortez Masto (D-NV), Sen. Jacky Rosen (D-NV), the late Sen. Dianne Feinstein (D-CA), and Sen. Alex Padilla (D-CA).
With the Lake Tahoe Restoration Act set to expire on September 30, 2024, the House diligently worked to pass the Lake Tahoe Restoration Reauthorization Act in this Congress which reauthorizes the $415 million in funding through September 2034.
Read my press release on the reintroduction of the Lake Tahoe Restoration Reauthorization Act here.
LDC has launched a new leadership development programme for experienced people leaders in the Public Service. This programme has been developed in partnership with Public Service agencies, in response to a need identified across the system.
Theprogrammesupports the development of experienced people leaders who want to develop their leadershipskillsand move their practice from good to great.
Theprogrammefocuseson:
Corepeople leadershipskills
Content-light,conversation-richlearning
Use ofexperiments and peer learning to hone leadership practice
The Experienced People Leader Programmehas been designed forLDC memberagencies to runinternally.If you areinterestedinlearning more about how your agency couldbenefitfrom theprogramme, please contactldcprogrammes@ldc.govt.nz
Sydney Airport is expecting 2.5 million passengers during the three-week September school holiday peak, seven per cent more than the same period in 2023
Forecast includes 1.5 million Domestic and 1 million International passengers
Upgrades to security screening progressing at main screening points
Sydney Airport is preparing for a bumper September school holidays with 2.5 million passengers forecast to travel through the terminals from Monday 23 September 2024 to Sunday 13 October 2024.
The forecast anticipates almost 200,000 more passengers than the equivalent period during the 2023 September school holidays, with a total of 1 million passengers expected to pass through the T1 International terminal during the holidays, an 11 per cent increase on 2023, and a total of 1.5 million domestic passengers forecast to pass through the T2 and T3 Domestic terminals, a five per cent increase on 2023.
The busiest day for domestic travel is set to be Friday 27 September, with more than 80,000 passengers expected, while Saturday 28 September is forecast to be the busiest day for travel at International with 52,000 passengers set to travel through the airport.
Following a strong performance in Q2, when 100 per cent of passengers passed through security in less than 10 minutes, Sydney Airport is committed to providing another smooth and secure experience for all passengers during what is traditionally a busy period.
Passengers are encouraged to plan ahead and leave themselves plenty of time for their journey to the airport, with domestic passengers advised to arrive one hour prior to departure if they only have hand-luggage, and two hours prior if they’re checking-in bags.
Passengers travelling via the International terminal should arrive three hours prior to departure unless their airlines say otherwise.
During the holiday period there will be increased staff on hand to assist passengers, and taxis and other vehicles may be directed to drop passengers off on the arrivals level at the T2 and T3 Domestic terminals during peak times. Passengers are also encouraged to check Sydney Airport’s website for live security wait times and flight status updates.
Passengers planning to park at the terminals are advised to book parking to guarantee a spot and get the best deal, as well as familiarising themselves with the new roads leading into the airport via the recently opened Sydney Gateway, which more than half a million motorists have successfully used since its opening on 1 September.
Scott Charlton, Sydney Airport CEO, said: “The September school holidays will be a busy time at the airport and our operational teams are fully prepared to make sure everyone has a smooth and enjoyable experience.
“We’re encouraging passengers to plan ahead and leave plenty of time to get to the airport and for those heading in from the western suburbs to jump on our website and familiarise themselves with the new Sydney Gateway motorway.
“We’re excited to welcome families and passengers during this time of year and are committed to making their journeys as seamless as possible.”
Advancing Security Measures
Sydney Airport is making strides in its implementation of the Government’s mandated airport security upgrades. This includes the installation of next-generation screening systems and improvements to terminal layouts to improve passenger flow and efficiency.
With the implementation of ongoing security upgrades, passengers should be aware of the following protocols at each terminal:
T1 – Some security lanes will require liquids and aerosols to be removed from hand luggage. Passengers are advised to follow the instructions of security staff.
T2 – laptops and aerosols will be required to be removed from hand luggage.
T3 – laptops and aerosols are not required to be removed from hand luggage.
Notes to editor
Travel Tips for Passengers
To assist passengers during this period, Sydney Airport recommends the following:
Arrive Early: Plan to arrive at the airport at least one hour before domestic flights with hand luggage, two hours if checking bags and three hours for international flights.
Prepare for Screening: Ensure all carry-on items are easily accessible and follow the instructions of security staff to facilitate a smooth screening process.
Check for Updates: Stay updated on flight information and security procedures by visiting the Sydney Airport website.
Today, Prime Minister Justin Trudeau met with the President of Ukraine, Volodymyr Zelenskyy, on the margins of the 79th session of the United Nations General Assembly.
Prime Minister Trudeau reiterated Canada’s condemnation of Russia’s ongoing war of aggression against Ukraine, including its horrific targeting of civilians and energy infrastructure. The Prime Minister reaffirmed Canada’s commitment to continue providing military, financial, humanitarian, development and other support to Ukraine in its fight to preserve its sovereignty, territorial integrity and independence.
The two leaders discussed ways to combat Russian misinformation and disinformation, as well as President Zelenskyy’s diplomatic efforts to promote peace, including through the Ukraine Peace Plan. They committed to building on the successes of the recent Ukraine Peace Summit, and the Prime Minister highlighted ongoing contributions in this regard, including Canada’s co-chairing of the International Coalition for the Repatriation of Ukrainian Children, and Canada’s meeting of foreign ministers on the human dimension of Russia’s war on Ukraine in October.
Prime Minister Trudeau and President Zelenskyy reaffirmed their intention to remain in close and regular contact.
Related links
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.
Today, Prime Minister Justin Trudeau met with the President of the European Commission, Ursula von der Leyen, on the margins of the 79th Session of the United Nations General Assembly.
The leaders highlighted the close relationship between Canada and the European Union (EU) and the importance of continued collaboration on shared priorities, including economic security, sustainable development, and global stability.
The Prime Minister and the President discussed the need to take action on climate change, carbon pricing, and industrial decarbonization. They emphasized the crucial role of the private sector in driving innovation and accelerating investments for a clean energy transition.
The leaders exchanged views on pressing geopolitical issues. They reaffirmed their unwavering support for Ukraine in the face of Russia’s unjustifiable war of aggression, and emphasized the importance of promoting lasting peace and security in the Middle East.
They also underscored their support for Haiti, highlighting the pivotal steps that have been taken toward restoring peace and stability in the country. Prime Minister Trudeau noted the need for additional support for the UN-authorized Multinational Security Support mission to ensure its success.
Prime Minister Trudeau and President von der Leyen looked forward to continue strengthening the strong partnership between Canada and the EU, including in the context of Canada’s G7 Presidency next year. The two leaders agreed to remain in close contact.
Source: United States House of Representatives – Congressman Al Green (TX-9)
(Washington, D.C.)— On Tuesday, September 24, 2024, Congressman Al Green, Ranking Member of the Financial Services Subcommittee on Oversight and Investigations, questioned SEC Chairman Gensler in a Financial Services Committee Hearing entitled, “Oversight of the Securities and Exchange Commission.”
You can access and listen to Congressman Al Green’s questionshere. The hearing remarks highlighted are also accessible on various social media platforms, includingFacebook,Instagram, andX(formerly known as Twitter).
Change processes proposed today may see a net reduction of 321 roles across the organisation’s urban planning and design; commercial; construction and innovation; and investment management office teams.
Kāinga Ora Chief Executive Matt Crockett says the proposed changes are aimed at ensuring Kāinga Ora can deliver on the Government’s housing delivery expectations in the most efficient way possible in the coming years.
“Kāinga Ora has scaled up over the last five years to deliver a successful and extensive build programme,” he says.
“We are now moving into a different phase where our focus is on creating a steadier state of social housing builds, alongside work to upgrade and replace thousands of homes in our portfolio.
“We need to make sure we have the right level of resourcing to match our delivery programme while maintaining focus on achieving our targets.”
The proposed changes would support an accelerated move to new construction methods, enabling state houses to be built more quickly and efficiently through the Kāinga Ora Housing Delivery System. Kāinga Ora will also continue to work with private developers to deliver homes.
“Today’s announcement starts a period of consultation where potentially impacted teams have the opportunity to provide feedback on the proposal,” says Mr. Crockett.
“These proposed changes will be unsettling for our people. We are committed to supporting them through the process as best we can, and to considering all feedback they provide.
“At this stage we plan to confirm final decisions in mid-November.”
Elements of the 15th Marine Expeditionary concluded more than a month of training in South Korea Aug. 6 to Sept. 7, including participation in Exercise Ssang Yong 24, which featured the first amphibious assault using Amphibious Combat Vehicles during their inaugural deployment.
The Marines and Sailors of the 15th MEU arrived in South Korea aboard the amphibious assault ship USS Boxer (LHD 4) and the amphibious dock landing ship USS Harpers Ferry (LSD 49) during the first week of August. Partnered with the ROK Marine Corps 7th Brigade, the combined force of Marines conducted two weeks of live-fire training ranges and unit-level training at ROKMC bases near Pohang.
Battalion Landing Team 1/5, the ground combat element of the 15th MEU, employed ACVs at ROKMC training areas surrounding Pohang, South Korea, exercising the vehicles’ off-road mobility and automated crew-served weapons. Alpha Company, BLT 1/5’s designated mechanized company, and its ACV Platoon also provided ROK Marines opportunities to tour and familiarize themselves with the U.S. Marine Corps’ newest ship-to-shore connector Aug. 20 and 22.
Units from across the 15th MEU also conducted partnered non-live fire events, including: tactical planning, mountain warfare training, fast rope inserts from an MV-22B Osprey, unmanned aerial and waterborne systems familiarization, small boat operations and reconnaissance, operations in urban terrain, communications integration, chemical attack response, and other training. This training strengthened and improved the interoperability between ROK and U.S forces in defense of the Korean Peninsula.
The culminating event in South Korea for 15th MEU and its ACVs was the amphibious assault Sept. 2 as part of Ssang Yong. Alpha Company Marines and Sailors, under the cover of the combined force’s air and surface fire support, landed at Hwajin-ri Beach near Pohang alongside nearly 40 Korean amphibious assault vehicles. Using their ACVs’ stabilized weapon systems, the company identified and reduced simulated enemy positions as they approached the shoreline, then dismounted to secure the beach prior to continuing the attack inland.
This marked the first time Marine Corps ACVs with embarked infantry demonstrated their beach assault capabilities with a host nation’s forces during a major exercise.
“Seventy-four years after our landing at Inchon, I can’t think of a better place and partner with whom to showcase the Marine Corps’ latest, most lethal amphibious assault capability,” said U.S. Marine Corps Lt. Col. Nicholas Freeman, commanding officer of BLT 1/5. “Any amphibious assault is a complex operation, and that’s especially true with a combined force featuring new equipment. Today, we benefitted from decades of steadfast commitment between our countries, years of development and testing by our service, many months of hard work by this first-of-its-kind mechanized company, and several weeks of excellent training and integration with our allies. It’s gratifying and inspiring to be here to see the impressive result of all these efforts.”
The Marine Corps expects this first deployment of ACVs to continue to provide insights for platform embarkation and maintenance requirements, logistics, and integration with our allies and partners. These insights are vital for the service to ensure we continue to provide our Marines with the most operationally ready and capable platforms.
“As the U.S. Marine Corps’ new generation of amphibious assault vehicle, it was special and meaningful to have ACVs deployed to the Korea Theater of Operations for the first time. Especially, during the decisive action, the most complex and sophisticated phase of the amphibious operation, the ACVs not only revealed its strength and capabilities but also the firm commitment to ROK-U.S. Alliance,” said ROKMC Lt. Col. Chol-Uk Kang, lead SY24 exercise planner, 1st ROK Marine Division. “Going forward, I sincerely hope that the ROK and the U.S. can further develop on combined amphibious operational method and concept with its new capability.”
After the completion of Ssang Yong, the 15th MEU’s forces reembarked Boxer and Harpers Ferry at ROK Naval Base Busan, South Korea, to resume their deployment in the U.S. 7th Fleet Area of operations.
The ACV Platoon, Alpha Company, and other elements of the 15th MEU began their deployment in late March 2024, departing San Diego aboard Harpers Ferry.
Since then, ACVs were first employed overseas May 4 during Exercise Balikatan 24 at Oyster Bay in the Philippines. During the exercise, the ACV Platoon launched from Harpers Ferry, made movement in the water toward an objective, and attacked targets from offshore using the vehicles’ stabilized heavy machine guns before reembarking.
The ACV Platoon’s first time ashore in a foreign country was June 24 after a ship-to-shore movement from Harpers Ferry to White Beach Naval Facility, Okinawa, Japan. During that event, the mechanized company rehearsed troop egress procedures and shared best practices with leaders from III Marine Expeditionary Force, which received its first ACVs in July.
Elements of the 15th MEU are under the command and control of Commander, Task Force 76, which the U.S. 7th Fleet employs to cooperate with allies and partners to preserve a free and open Indo-Pacific.
As the U.S. 7th Fleet’s primary Navy advisor on amphibious matters in the 7th Fleet area of operations, CTF 76 is responsible for conducting expeditionary warfare operations to support a full range of theater contingencies, ranging from humanitarian assistance and disaster relief operations to full combat operations.
Source: The Conversation (Au and NZ) – By Kate O’Reilly, Director International (Programs & Engagement) | Lecturer School of Nursing and Midwifery, Western Sydney University
The first recommendation is to establish a comprehensive evidence base to better understand the experiences of under-served groups, including LGBTQIA+ people and women with disability.
Gaps in knowledge of menopause can be significant barriers to diagnosis and treatment. More than 85% of people with distressing menopause symptoms do not receive appropriate care. These barriers can be compounded for people, women and those presumed female at birth who have a disability and/or are LGBTQIA+.
Here’s what we know so far about how people from diverse groups experience menopause and the health-care gaps they face.
Remind me, what is menopause?
Generally menopause is experienced across three phases.
Perimenopause (meaning around menopause) starts when hormones, particularly oestrogen, fluctuate.
Menopauseoccurs when a person has their final menstrual period. These stop because the person’s ovaries no longer release eggs. This definition reflects the different ways menopause can occur (natural menopause, premature ovarian insufficiency, surgery or cancer treatment).
Post-menopause is the stage after menopause marking the end of the reproductive stage.
We experience it differently
Everyone’s experience of menopause is different. People living with disability can experience unique symptoms and challenges.
Autistic people, for example, may describe the experience of menopause as turbulent or catastrophic. Symptoms for this group include intensified sensory stimuli and increased difficulty with:
executive functioning (planning, concentrating and multitasking)
recognising or regulating emotions and internal body cues
[O]ur society doesn’t talk about, address, understand women our age (menopausal onset) in general very well. And so when you have the added dimension of autism […] there’s no resource […] to tell me how to handle that. And there’s no room in society for it either […] we don’t talk about menopause, let alone autistic menopause.
For some trans and gender diverse people, menopause can be positive and affirming. For others, the distress can be profound. As one research participant explained:
Personally I was fine (gender-identity-wise) with experiencing periods and pregnancy/childbirth, but I have found menopause much more conceptually difficult. I think in large part because the social narrative is so much about ‘menopausal women’ and also often denigratory or shame-laden.
Barriers to menopause diagnosis and care
LGBTQIA+ people and people with a disability can face assumptions about their gender, sexuality or anatomy which interfere with the care they require.
When people have had prior negative experiences of health care, and have experienced stigmatisation and pathologising of their disability, intersex variations, diverse gender or their sexuality, they may delay accessing care for menopause. Such a delay can result in poorer physical and mental health outcomes.
People with disability can experience earlier menopause with more profound symptoms. And as Women with Disabilities Australia highlighted, when there are pre-existing health concerns, impairments, or other support needs, as is the case with disability, menopause symptom management can be particularly complex.
Women living with a disability in Australia are far less likely to access health care due to stigma and lack of specialist care. They are not always screened for or routinely asked about their reproductive or menopausal health experiences.
Lack of clinician education and provider bias can result in a tendency to either ignore menopausal symptoms or attribute them to mental health concerns. This can lead to misdiagnosis, inappropriate treatment or a complete denial of care for cisgender women and people who live with disability, and LGBTQIA+ folk.
The absence of inclusive, accurate language in health promotion information that does not recognise the diversity of experiences of menopause for people who identify as LGBTQIA+ or live with disability can make them more vulnerable to misinformation and contribute to increased health-care disparities.
What can we do about it?
Policy responses to reducing health-care disparities must be led by those with lived experience, and focus on:
Inclusive and accurate language
Language around menopause should reflect the diverse populations who experience it. Terms such as women and those presumed female at birth can be used to acknowledge trans and gender diverse folk, however all identities should be listed where possible.
Education
Undergraduate and postgraduate university and clinical education on menopause and perimenopause is lacking and should include the lived experience of menopause among diverse groups. This may reduce provider bias and prevent assumptions that could result in missed care and poor health outcomes.
At the individual level, content on menopause should be included in sexual health education programs in schools. This education should reflect the diverse experiences of menopause and use age-appropriate language.
Affirming and specific care
Welcoming clinical environments for LGBTQIA+ people who may have had prior negative experiences can ease past concerns. Peer-led credentialed online support networks can provide alternative and complementary safe spaces to seek care.
For people living with disability specific information for support workers and family carers can help facilitate ongoing affirming care.
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Source: United States Senator Tommy Tuberville (Alabama)
“The issues plaguing American producers are directly linked to the harmful policies.”
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) spoke on the Senate floor about the how the Biden administration’s inflationary policies are hurting American farmers. He stressed the importance of passing a Farm Bill that puts American farmers first.
Read Senator Tuberville’s remarks below or on YouTube or Rumble.
“Mr. President, I rise today to talk about the dire state of our American farm economy and our farmers. American farmers and producers are the backbone of our nation’s agriculture economy and food security.
Despite their critical role in our lives to feed, clothe, and fuel not only the United States, but the entire world, our farmers are struggling to survive—and that’s an understatement. The current state of the agriculture economy is bleak and on the verge of collapse. We have problems all over the world. We have problems in our country. There’s nothing more important. Nothing more important that we should be addressing than our food supply here in this country.
Costs for farmers are rising. Commodity prices are falling. Our farmers cannot break even—much less, make a profit. According to the USDA, net farm income this year is projected to decline 4.4% from 2023 […]. That is a disaster. This follows a shocking—listen to this—a shocking 19.5% decline in 2022.
Not one business in this country can survive with this kind of decline. And our farmers and our farms are no different. This means producer’s income has plummeted 23% in just two years. 23%. These figures represent over $40 billion in lost revenue for America’s hardworking producers. This is the largest two-year decline ever in our farm income, ever in the history of this country.
Right now, our row croppers, especially, are facing considerable financial hardship. According to the American Farm Bureau Federation, row croppers had a $27.7 billion decline in cash receipts since last year. In Alabama, my state, our producers are yielding bumper crops of cotton, peanuts, corn, soybeans, and yet they can’t profit due to [the] rising cost of production. Our catfish producers are in the same boat. Rising input costs and falling fish prices are threatening to put them out of business. A multitude of factors that producers have no control over are impacting their bottom lines.
And I wanna talk about one of them. This miraculous, this ‘world saving’ Inflation Reduction Act that we passed a few years ago, was supposed to ‘save our economy.’ It was supposed to save a lot of workers. You know what it’s done to our farmers? It’s almost put us out of business. The Inflation Reduction Act started a tax credit for imports and exports.
Unfortunately, all the tax credits are going to people, and countries, and farmers from overseas—Brazil and China. [The tax credit] is supposed to go to our farmers, [but] no it’s not gonna do that. For some reason, this Administration [has] given all the tax credits to the farmers from other countries, and our farmers are struggling.
The Biden administration has control, has total control, over our farm economy, but you hadn’t heard a peep out of them, not one peep about our farmers. And this is a disastrous year coming up. And right now, we are harvesting our crops and they’re bumper crops. The issues plaguing American producers are directly linked to the harmful policies, as I just said, from the Biden-Harris administration.
This includes the lack of domestic energy production, skyrocketing inflation, which comes from the Inflation Reduction Act, and endless environmental hurdles. Let me say something about conservation and all the things that happen in our environment. There’s nobody, and I mean nobody on the face of the earth, that takes care and is more conscious of environmental problems than our farmers, because they make a living off our land. But we’re putting so many regulations on them. We’re closing our farms down and running them overseas, and we’re gonna have a national security threat because all of our food is gonna come from foreign countries.
Farmers are experiencing rising high costs of labor [and an] increase [in the] price of feeds, fertilizer, and pesticides. And I’m not going to sugarcoat it. America’s agriculture producers are facing a very tough road ahead. And it’s something nobody, the media, this building, […] The House of Representatives—nobody’s even talking about. Folks, if we can’t eat. If we don’t have food to eat, we’re done.
Many farmers fear that their farm loans this year will not be renewed. They have to have farm loans to put a crop in the ground. They fear cash flow is drying up and interest rates continuing to rise create an uncertain future for farming operations. Although Congress only has a few legislative days left to act, we must stop adding fuel to the Biden-Harris administration’s fire. We’ve got to quit adding fuel. We’ve got to help the farmers.
We need to pass a Farm Bill that helps our farmers. Democrats are [in] control of that. […] A farm bill is for five years. […] Five years ago, the Farm Bill was $870 billion for [a] five-year period. It runs in a five-year period. So, this past year, we’re supposed to be working on a Farm Bill. I’m on the Ag Committee. We go by the control of the Democratic Party. Our Democratic Chairwoman has decided we won’t do a Farm Bill this year.
We’re just throwing farmers underneath the bus. They need help. You would think by looking at everything going on, that my colleagues on the Left would rather our food come from other countries, take over our farmland, control it, and do something else with it.
Producers need a strong safety net—we’ve got to have a safety net for our farmers. Considering no farmer’s risks are the same, we cannot take a one-size-fits-all approach. Remember, we have a Farm Bill that covers livestock, hogs, row croppers, forest, fish. There’s a lot of things involved.
Farmers across the country have fluctuating levels of risk impacted by land and equipment costs, access to irrigation, and variable input requirements. Southern row croppers rely heavily, heavily upon Title I Commodity Programs in the Farm Bill, particularly the Price Loss [Coverage] program and the Agricultural Risk [Coverage] program. Yet Midwest producers heavily utilize crop insurance.
Where there may be an overlap across regions among these programs, we must fix the entire farm safety net, not just parts of it. Take the reference prices and commodity programs, for example. Reference prices are how much prices are in their commodity sells for. Our farmers […] are today operating on 2012 reference prices, 2012. Fourteen years later, the costs of production are 22-31% higher today than they were at that time a decade ago—making current reference prices completely inadequate for our farmers.
We don’t have time to waste. Our farmers are facing an uphill battle to remain in business. […] The American people going to the grocery store are gonna find out pretty quick what it is to be hungry if we don’t wake up and smell the roses.
Even if a Farm Bill is passed today, producers wouldn’t receive any commodity program support from this Farm Bill until 2026. Game, set, match before 2026 for our farmers in this country.
That’s help our farmers need now to survive, not two years late. Senate Republicans stand ready to act on a solid bipartisan bill the House Agriculture Committee passed earlier this year. Yet, Senate Democrats and the Biden administration refused, they refused, to come to the table to find practical, bipartisan solutions to the many problems our farmers are facing today.
‘Let’s don’t worry about our farmers. Let’s worry about Ukraine. Let’s worry about people overseas. Eight hundred bases we have around the world. Let’s don’t worry about eating. We can without eating.’ That’s what this Administration’s saying.
This forces us to look to supplemental appropriation packages to help our producers, if we’re not gonna do a Farm Bill, to renew their farm loans and plan for next year’s crops. If they don’t get help this year, we’re gonna have huge problems. They won’t be pocketing this money. If we come up with some money to help the farmers get along, they’ll just be planting another crop.
Without immediate action to assist producers, our nation’s agriculture industry may never, ever, make it back from the damage that we’re doing to them today. America has lost—listen to this—America has lost 150,000 farms and 25,000 farmers in our country over the last few years. What? 150,000 farms closed up. Why? They can’t make a profit. You’ve owned a farm for 100 years, you and your family. But you get to the point where you say, ‘you know, I’m not passing something down to our kids that really wanna farm, we’re not gonna put them in harm’s way. We’re gonna sell. We’re gonna get out of the business. And we’re gonna let somebody else worry about it. Let’s let the Federal Government worry about it.’ […]
We can’t afford any more losses to our farms. Our farmers are hurting. They’re hurting real bad. But have you heard anybody talk about it, no.
You’re gonna hear a lot of people complaining about it and there’s gonna be an uproar in the next few years when prices double and triple as what they are today because we’re not gonna have any food. And it’s gonna come from Brazil, it’s gonna come from China, it’s gonna come from Vietnam.
We are doing severe damage to the farmers across this country and nobody cares. I’ll continue to be the voice of our Southern agriculture producers in the Senate and ensure that we have a seat at the table on this Farm Bill upcoming. But as I just said a while ago, [even] if we do a Farm Bill today, we’re gonna lose at least half of our farmers in this country this year, this year if they don’t get some help.
Mr. President, I yield the floor.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.
China’s top private enterprises are ramping up their research and development expenditures, reflecting a shift toward innovation to become more competitive on the global stage, said government officials and industry experts.
According to a report released by the All-China Federation of Industry and Commerce on Monday, total 2023 R&D expenditures for the top 1,000 private firms reached 1.39 trillion yuan ($197.5 billion), up 4.78 percent year-on-year. They accounted for 41.88 percent of the nation’s overall R&D spending.
The manufacturing sector emerged as a major contributor, with total R&D expenditures surpassing 1 trillion yuan last year. The highest R&D investments were observed in the computer and electronics sector, which invested 318.47 billion yuan with an impressive average R&D intensity of 8.34 percent.
It was closely followed by the internet and related services sector at 245.07 billion yuan and the automotive industry at 142.56 billion yuan.
Top leadership officials emphasized earlier this year the need to deeply integrate technological innovation with industrial innovation to develop new quality productive forces, highlighting the importance of reinforcing the role of enterprises as key innovators.
Gao Yunlong, chairman of ACFIC, said: “Private enterprises are expected to lead technological innovation, drive revolutionary breakthroughs and increase R&D investments. They can also strengthen the deep integration of industry, academia and research institutions, and play a greater role in strengthening and supplementing key industrial chains, as well as in the transformation of technological achievements and self-reliance.”
Notably, China’s R&D efforts are increasingly narrowing the gap with other leading economies. Some 217 of the global top 1,000 R&D-invested firms are from China, with total R&D investments amounting to 1.27 trillion yuan.
The year-on-year growth rate of R&D expenditures for these top 1,000 private enterprises last year was 12.78 percent, surpassing the growth of 6.54 percent for the global top 1,000 and 7.68 percent for the European Union. The average R&D intensity for the top 1,000 private enterprises was 3.58 percent, 0.31 percentage points higher than that of the top 1,000 firms in the EU.
Xu Qin, Party secretary of Heilongjiang province, said that the province will implement more supportive policies for the development of the private economy to invigorate its growth.
“Efforts will also be made to create a top-tier business environment, ensuring comprehensive support for enterprises, enhancing gains for entrepreneurs and contributing to the overall revitalization of Northeast China,” Xu said.
China will scale up R&D expenditures by more than 7 percent annually during the 14th Five-Year Plan (2021-25) period. Consultancy McKinsey & Co said in a report that such a growth target will make China the world’s largest R&D spender.
Wang Peng, a senior researcher at the Beijing Academy of Social Sciences, said that amid a global economic slowdown, encouraging the private economy to increase R&D efforts is important.
“The Chinese economy will continue gathering momentum if the private sector, including smaller businesses, remains sound, given that many SMEs are being increasingly recognized for their role as leaders in new concepts and new business models,” Wang said.
Boosted by news of supportive measures addressing the benchmark interest rate, a share stabilization fund and new monetary policy tools to support bourses, the A-share market rallied strongly on Tuesday, with upward momentum expected to continue in anticipation of more long-term capital inflows, experts said.
Their comments were made on Tuesday when the benchmark Shanghai Composite Index closed up 4.15 percent, the largest single-day gain in over four years. With this, the SCI regained its 2800-point threshold to close at 2863.13 points. The Shenzhen Component Index jumped 4.36 percent while the tech-heavy ChiNext in Shenzhen, Guangdong province, ended 5.54 percent higher. The combined trading value on the Shanghai and Shenzhen bourses surged 76.3 percent from a day earlier to 971.3 billion yuan ($138.1 billion).
The stock market’s bullish rebound came amid a series of supportive measures announced during a news conference on Tuesday.
Pan Gongsheng, governor of the People’s Bank of China, the country’s central bank, announced a 50-basis-point cut for the reserve requirement ratio in the near term. This will free up about 1 trillion yuan of long-term capital inflow into the financial market, Pan said at the conference.
Meanwhile, the central bank will establish a swap program under which securities firms, asset managers and insurers can obtain liquidity from the central bank through collateralization of their financial assets such as bonds and stock exchange traded funds. The program, which serves as the first structural monetary policy tool introduced by the PBOC to support the capital market, will significantly enhance these financial companies’ ability to acquire funds and increase their share holdings, he said.
The funds obtained from the program can only be used to invest in the stock market. The first phase of the program is set at 500 billion yuan, with the scale open for expansion, Pan said.
The PBOC governor also said at the Tuesday conference that financial regulators are studying the possibility of establishing a stock market stabilization fund.
Wu Qing, chairman of the China Securities Regulatory Commission, the country’s top securities watchdog, said at the Tuesday briefing that they will come up with a guideline to introduce more medium to long-term funds into the capital market.
Fan Jituo, chief strategist at Cinda Securities, said that the supportive policies for the stock market have exceeded market expectations, which will usher in more innovative tools and even an easing cycle.
Chen Guo, chief strategist at China Securities, said that the supportive policies collectively announced by the country’s top financial regulators may indicate more significant policies.
The A-share market will see its risk appetite improved in the first place, thanks to the clear signals sent lately. Market liquidity will also improve as incremental capital inflow can be anticipated, Chen said.
Six measures to advance mergers and acquisitions as well as restructuring among A-share companies will be introduced. A guideline for listed companies’ market valuation management will be introduced and open for public opinions soon, said Wu.
The central bank will also create a special re-lending facility to guide banks to provide loans to listed companies and their major shareholders for buybacks and increasing shareholdings, Pan said.
Xu Fei, an analyst at Wanlian Securities, said the ecosystem of the Chinese capital market will further optimize amid regulators’ efforts to improve companies’ quality and investment value. More long-term capital will be introduced in such a scenario. Market confidence will also be boosted along with the number of supportive macroeconomic policies, he said.
China’s top financial regulators, in a move that went beyond market expectations, unveiled a potent combination of monetary easing measures on Tuesday, aimed at anchoring market confidence and underpinning economic recovery amid domestic and global headwinds, analysts said.
The forceful one-two punch, including cutting the reserve requirement ratio, key policy interest rates and existing mortgage loan interest rates, will foster a more enabling climate for the world’s second-largest economy to hit this year’s growth target, they added.
“Recent macroeconomic data pointing to a tepid recovery in domestic consumption and weak inflationary pressures have created space for policymakers to ramp up efforts to bolster the economy,” said Ming Ming, chief economist at CITIC Securities.
“The gradual release of the policy package will help shore up market sentiment, unleash pent-up consumer demand, and drive a pickup in prices, putting the economy on a more favorable growth trajectory,” he added.
Pan Gongsheng, governor of the People’s Bank of China, the nation’s central bank, said at a news conference on Tuesday that the reserve requirement ratio — the amount of cash that banks are required to have on hand — will be reduced by 0.5 percentage point in the near term, which will free up about 1 trillion yuan ($142.2 billion) for new lending.
This marks the second time that the central bank has lowered the RRR this year, after implementing a 0.5 percentage point reduction in February, indicating that Chinese policymakers are proactively tapping into the policy space provided by the US Federal Reserve’s interest rate cut last week, experts said.
Following the latest reduction, the average reserve ratio for the banking sector will drop to around 6.6 percent. This level still leaves considerable flexibility to further lower the RRR if needed, when compared with other major global economies, Pan said.
China’s central bank will not shy away from further RRR cuts of 0.25 to 0.5 percentage point this year, depending on the prevailing market liquidity conditions, Pan added.
The central bank also announced a reduction in its seven-day reverse repo rate — the short-term policy benchmark of interest rates — by 0.2 percentage point from the current 1.7 percent to 1.5 percent.
This move is expected to drive down the medium-term lending facility rate by around 0.3 percentage point, with the loan prime rates also projected to follow suit, declining by 0.2 to 0.25 percentage point, Pan added.
A new set of policies aimed at further stabilizing the real estate market was also unveiled at the news conference, including a 0.5 percentage point reduction in average existing mortgage rates and lowering the minimum down payment ratio from the current 25 percent to 15 percent on second homes, among others.
Guan Tao, global chief economist at BOCI China, said that Tuesday’s policy package was more proactive and comprehensive than expectations and indicated policymakers’ intention to deliver timely policy support, helping strengthen society’s confidence in achieving the economic growth target of about 5 percent for the year.
Guan said fiscal policy should synergize with accommodative monetary measures. Measures such as expanding this year’s government deficit to boost fiscal spending and optimizing the fiscal spending structure to improve people’s livelihoods are worth consideration, especially in light of households’ reluctance to consume and invest due to debt burdens.
China’s stock and foreign exchange markets reacted positively to the policy release, with the benchmark Shanghai Composite Index jumping 4.15 percent to Tuesday’s close at 2,863.13 points, the biggest rise in about four years.
Wang Qing, chief macroeconomic analyst at Golden Credit Rating International, said the policies will provide much-needed support to homeowners by alleviating their debt burden and boosting consumer spending.
Wang said the higher level of existing mortgage interest rates compared with new mortgages has triggered a notable wave of early loan repayments, posing a drag on household consumption.
According to a central bank report released in July, the average monthly early repayment volume reached 387 billion yuan from September to December last year, which translates to an annualized early mortgage repayment of around 4.6 trillion yuan.
While the mortgage rate cuts, on the other side, will have a tangible impact on bank earnings, the authorities are likely to take a balanced approach, such as orderly adjustments to deposit rates to ensure the banking sector’s resilience, Wang said.
Photo taken on Sept. 16, 2024 shows a flooded area in Nay Pyi Taw, Myanmar. [Photo/Str/Xinhua]
Severe floods in Myanmar have caused significant devastation with a death toll of 419 as of Tuesday morning, according to the State Administration Council.
Over 140,000 people were affected by the floods, which have devastated over 750,000 acres of paddy fields and killed over 100,000 animals.
Additionally, the floods have destroyed 253 religious buildings, 926 roads and bridges, lamp posts and communication towers.
In response, Myanmar authorities have allocated 30 billion kyats (about 14.2 million U.S. dollars) for rescue operations and rehabilitation efforts.