I'm very much into climate, says Trump; slams China, India for doing 'nothing'

News Network
November 13, 2019

New York: US President Donald Trump has said countries like China, India and Russia are doing "absolutely nothing" to clean up their smokestacks and industrial plants and the garbage that they drop in sea floats into Los Angeles.

Terming climate change as a "very complex issue", Donald Trump said he considers himself to be, "in many ways, an environmentalist, believe it or not".

"So...I'm very much into climate. But I want the cleanest air on the planet and I want to have - I have to have clean air - water," Trump said in remarks at the Economic Club of New York on Tuesday.

Donald Trump told the audience that the US withdrew from the "one-sided, horrible, horrible, economically unfair, ''close your businesses down within three years,'' ''don't frack, don't drill, we don't want any energy'' - the horrible Paris Climate Accord that killed American jobs and shielded foreign polluters."

He said the Paris Climate Agreement was a "disaster" for the US, adding that the deal would have resulted in "trillions and trillions of dollars" of destruction to America.

"And it is so unfair. It doesn't kick in for China until 2030. Russia goes back into the 1990s, where the base year was the dirtiest year ever in the world. India, we are supposed to pay them money because they are a developing nation. I said, ''We're a developing nation, too''," Trump said amidst laughter from the audience.

Responding to a question about how he thinks about risk as it relates to trade policy and issues like climate change, Trump said, "when people ask the question...about climate - I always say: You know, I have a little problem."

"We have a relatively small piece of land - the United States. And you compare that to some of the other countries like China, like India, like Russia, like many other countries that absolutely are doing absolutely nothing to clean up their smokestacks and clean up all of their plants and all of the garbage that they're dropping in sea and that floats into Los Angeles, along with other problems that Los Angeles has, by the way."

"But when you see this happening, it's - nobody wants to talk about it. They want to talk about our country. We have to do this. We have can't have planes any longer. We can't have cows any longer. We can't have anything. I said, "What about China?"," he said.

He said he wants clean air and crystal-clean, clear water and the US today has the "cleanest air we've ever had in our country, meaning, over the last 40 years. I guess, 200 years ago was cleaner, but there was nothing around."

"But I want clean air. I want clean water, environmentally," he said.

The US last week formally notified the United Nations of its withdrawal from the 2015 Paris Climate accord, a landmark global agreement which brought together 188 nations, including India, to combat global warming.

The Paris Agreement, in which Donald Trump's predecessor Barack Obama and Prime Minister Narendra Modi played instrumental roles, was adopted at the UN climate conference "COP 21" held in the French capital in 2015 with an aim to reduce the hazardous greenhouse gas emissions.

Although Donald Trump had announced his decision to withdraw from the historic agreement on June 1, 2017, the process began on November 4 with the formal notification and the US will be out of the pact on November 4, 2020.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 4,2020

Feb 4: Americans on Monday kicked off the first vote of the 2020 presidential race as the midwestern state of Iowa began its caucuses, the closely-watched first step in deciding which Democrat will face incumbent Donald Trump in November's election.

The two frontrunners, left-wing Senator Bernie Sanders and former Vice President Joe Biden face a key test in the sparsely populated state, with a handful of others looking to make their mark to give their campaigns momentum.

The Iowa vote is a critical early look at the viability of the 11 Democratic candidates still in the race - even though just 41 Iowa delegates are up for grabs, a fraction of the 1,991 needed to secure the party nomination in July.

Iowa Democrats filed into nearly 1,700 caucus sites - schools, libraries, churches, mosques and meeting halls with Sanders and Biden in the lead in the state, followed by former South Bend, Indiana mayor Pete Buttigieg and Senator Elizabeth Warren, who is also on the left of the party.

But polling has fluctuated and Iowa's quirky caucus system - where voting is not by secret ballot but by public declaration for a candidate - makes the night hard to predict.

Luke Elzinga, a volunteer for Sanders, appeared early at Lincoln High School in Des Moines which was converted into a caucus location.

"I think he really inspires a lot of young people, a lot of disaffected voters who might not otherwise turn out," Elzinga, 28, told AFP news agency shortly before the caucusing began.

"And so I think he's the best candidate to beat Trump."

Three candidates - Sanders, Warren and Amy Klobuchar - have faced the unprecedented scenario of spending much of the past two weeks tethered to Washington for the impeachment trial of Trump instead of on the campaign trail in Iowa.

Even as candidates sought to make 11th-hour impressions on undecided voters, the senators were obligated to return to Washington for the trial's closing arguments on Monday.

Defeating Trump

In a vote scheduled for Wednesday, Trump is almost certain to be acquitted by the Republican-led upper house on charges of abuse of power and obstruction of Congress.

For Democrats, second-tier hopefuls Klobuchar and tech entrepreneur Andrew Yang look to outpace expectations and seize momentum heading into the next contest in New Hampshire on February 11.

Earlier on Monday Biden - who still holds the lead in national polls - brought pizza to a field office in a strip mall near Des Moines to thank volunteers.

"I'm feeling good about today," he said.

Like many candidates, Biden spent the weekend crisscrossing Iowa in a final push to convince undecided voters he is best placed to accomplish Democrats' number one goal: defeating Trump.

The president has not stood idly by. On Sunday he branded Biden "Sleepy Joe" and described Sanders as "a communist," previewing a likely line of attack were Sanders to win the nomination.

Unlike secret ballot voting, caucus-goers publicly declare their presidential choice by standing together with other supporters of a candidate.

Candidates who reach 15 percent support earn delegates for the nomination race while supporters of candidates who fall short can shift their allegiance to others.

Turnout is critical, and candidates and their representatives will seek to persuade voters on issues including healthcare, taxes and ending Washington corruption.

One key candidate who has opted not to contest in Iowa is billionaire businessman Michael Bloomberg, who entered the race in November but has surged into fourth place in RealClearPolitics' national polling average.

The former New York mayor, who has spent more than $300m on advertising, according to Advertising Analytics, is focused on running a national campaign with particular emphasis on states that vote on "Super Tuesday," on March 3.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 7,2020

Mumbai, Jan 7: People protesting against the JNU violence were evicted from Gateway of India here on Tuesday morning as roads were getting blocked and tourists and common people were facing problems, a police official said.

Police had appealed to the protesters to shift but they didn't listen, so they were "relocated" to Azad Maidan, the official said.

Hundreds of people, including students, women and senior citizens - who assembled at the iconic Gateway of India since Sunday midnight - demanded action against the culprits and called for Union Home Minister Amit Shah's resignation.

Violence broke out in the Jawaharlal Nehru University (JNU) in Delhi on Sunday night as masked men armed with sticks and rods attacked students and teachers and damaged property on the campus.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.