US Diplomat Nikki Haley Blasts China, Russia For 'Holding The Hand' Of North Korean Leader

Agencies
July 6, 2017

Washington, Jul 6: The top U.S. diplomat to the United Nations blasted Russia and China on Wednesday for "holding the hand" of North Korean leader Kim Jong Un, as the Trump administration struggled to respond to Pyongyang's latest ballistic-missile test.nikki

U.N. Ambassador Nikki Haley chided Moscow and Beijing over their opposition to a Security Council resolution condemning North Korea and imposing greater economic sanctions for what she called its "sharp military escalation."

She also said Pyongyang was "quickly closing off the possibility of a diplomatic solution" and suggested the United States would continue to consider military action if necessary.

"One of our capabilities lies with our considerable military forces," Haley said during a Security Council meeting in New York. "We will use them if we must, but we prefer not to have to go in that direction."

Haley's pointed speech marked the latest effort by the Trump administration to rally allies and rivals around a common agenda to blunt North Korea's progress, days after Kim's regime tested an intercontinental ballistic missile with a range that experts said would put it within reach of Alaska.

But her remarks also illustrated the limits of the White House's options and lacked specifics about what concrete steps the administration is considering. The missile test marks a new level of advancement in Kim's pursuit of a nuclear weapon that could strike the continental United States. Analysts said a military confrontation could escalate quickly into a mass-casualty war on the Korean Peninsula and Japan, where the United States has stationed tens of thousands of troops.

The standoff cast a shadow as President Donald Trump prepared for his first meeting with Russian President Vladimir Putin and his second with Chinese President Xi Jinping on the sidelines of the Group of 20 summit, which opens Friday in Hamburg. Trump also will meet with Japanese Prime Minister Shinzo Abe and the heads of U.S. allies Britain and Germany.

"We've been pretty consistent that we are never going to broadcast next steps," deputy White House press secretary Sarah Huckabee Sanders told reporters aboard Air Force One as the president traveled to a short stop in Warsaw on Wednesday.

Before leaving Washington, Trump revealed more frustration with Xi, whom he has personally lobbied to enact sanctions on Chinese banks that do business with North Korean companies. The U.S. Treasury Department announced last week that it would block the Bank of Dandong, along the border region between China and North Korea, from accessing U.S. markets. Officials said was the first of potentially greater sanctions by the United States.

On Twitter, Trump wrote: "Trade between China and North Korea grew almost 40% in the first quarter. So much for China working with us - but we had to give it a try!"

Chinese data released in April showed China's trade with the North grew 37.4 percent during the first three months of the year compared with the same period in 2016. China said then that overall trade grew even as it complied with U.N. sanctions and stopped buying North Korean coal.

Russian and Chinese diplomats used the U.N. Security Council meeting to push their joint proposal for a suspension of North Korean nuclear and missile testing in exchange for a suspension of U.S. and South Korean military exercises. Both countries also condemned the U.S. antimissile system being deployed in South Korea and called for it to be removed.

Early Wednesday in Asia, U.S. and South Korean forces fired missiles, conducting joint military exercises that the U.S. Pacific Command cast as a show of "ironclad" resolve.

Daniel Pinkston, a lecturer in international relations at Troy University in Seoul, said he saw no chance Washington and Seoul would agree to halt joint exercises, calling it "a non-starter."

During the U.N. meeting, a Russian official questioned whether North Korea's missile was an ICBM, suggesting it was an intermediate-range weapon.

That prompted Haley to request a second turn at the microphone, during which she said: "If you see this as a threat, if you see this for what it is, which is North Korea showing its muscle, then you need to stand strong. If you chose not to, we will go our own path."

Danny Russel, who served as senior Asia director at the National Security Council under President Barack Obama, said Trump has a "rare blue moon" opportunity this week to meet with and rally the major players - China and Russia on one side and Japan and South Korea on the other - toward some sort of unified display of condemnation of North Korea.

"What the administration needs to do is get China and Russia around an approach, even if it is not as testosterone-rich and muscular as the U.S. would like, so that the basic geometry is five on one, not three on three," said Russel, now a diplomat in residence at the Asia Society in New York. "There is no formula, no path forward, other than war, that isn't built on some degree of common cause between Washington and Beijing."

Victor Cha, who served as senior Asia director at the NSC under President George W. Bush, said the U.S. sanctions on the Dandong bank were "a shot across the bow at the Chinese that what is happening is not working for us. It arguably gives [Trump] a stronger position going in" to the meeting with Xi.

The missile the Kim regime launched had been in the works for years. It flew higher and remained in the air longer than previous attempts, in what experts called a milestone for North Korea

South Korean authorities described North Korea's test as a two-stage missile with a range of about 4,300 to 5,000 miles - enough to reach Alaska and other parts of North America.

South Korean Defense Minister Han Min-koo said there is high probability that Pyongyang will stage another nuclear test and noted gains in its efforts to miniaturize a warhead - steps toward developing nuclear-tipped weapons capable of hitting the mainland United States.

Pyongyang's test appeared to catch the United States by surprise. The Pentagon initially mislabeled the activity as a test of an intermediate-range missile before reclassifying it Wednesday as an ICBM with a range of at least 5,500 kilometers.

Navy Capt. Jeff Davis, a Pentagon spokesman, said that the missile "is not one we have seen before" and that it was launched from a site - the Panghyon airfield about 90 miles north of Pyongyang - that has not been used to test missiles before.

He emphasized that North Korea still has a number of steps to meet before a threat to North America is imminent, noting that Pyongyang has not yet demonstrated the ability to mount a nuclear warhead on a ICBM or show the lateral range necessary.

"But clearly, they are working on it," he said.

North Korea successfully test fired an intercontinental ballistic missile July 3. The missile was launched into a steep arc sending it more than 1,700 vertical miles up before beginning its reentry into Earth's atmosphere.

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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Agencies
February 11,2020

The head of the World Health Organisation on Tuesday warned the novel coronavirus was a "very grave threat" for the world as he opened a conference to combat the epidemic.

"With 99% of cases in China, this remains very much an emergency for that country, but one that holds a very grave threat for the rest of the world," Tedros Adhanom Ghebreyesus said in Geneva.

Some 400 scientists will review how the virus is transmitted and possible vaccines at the two-day forum.

"What matters most is stopping the outbreak and saving lives. With your support, that's what we can do together," Tedros said.

The virus, first identified in China on December 31, has killed more than 1,000 people, infected over 42,000 and reached some 25 countries.

Participants will also discuss the source of the virus, which is thought to have originated in bats and reached humans via another animal such as snakes or pangolins.

There is no specific treatment or vaccine against the virus, which can cause respiratory failure.

Tedros, who has repeatedly urged countries affected to share their data, called for global "solidarity".

"That is especially true in relation to the sharing of samples and sequences. To defeat this outbreak, we need open and equitable sharing, according to the principles of fairness and equity," he said.

"We hope that one of the outcomes of this meeting will be an agreed roadmap for research around which researchers and donors will align," Tedros said.

Several companies and institutes in Australia, China, France, Germany and the United States are racing to develop a vaccine -- a process that normally takes years.

Asked whether scientists from Taiwan would be allowed to take part in this week's Geneva conference, WHO officials said that they would do so but only online -- along with colleagues from other parts of China.

While the WHO does not deal with Taiwan directly and only recognises Beijing, Taiwan was often allowed to attend annual assemblies and sideline meetings as an observer.

But in recent years it has been frozen out as Beijing takes an increasingly combative stance towards democratic Taiwan, which it considers its own territory.

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Agencies
August 8,2020

Washington, Aug 8: The United States has reported 58,173 new coronavirus cases on Friday, bringing the total past 4.9 million, according to Johns Hopkins University.

"The first case of COVID-19 in the US was reported 198 days ago on 22.01.2020.Yesterday, the country reported 58,173 new confirmed cases and 1,243 deaths," it said.

The country is expected to cross the 5 million thresholds in the coming days. It leads the world both in terms of coronavirus cases and deaths estimated at over 161,300.

Overall, there have been 19.4 million cases confirmed globally and almost 721,800 people have died from virus-related complications. Another 11.7 million have recovered.

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