Climate change-induced risks biggest threat: World Economic Forum

Agencies
January 20, 2020

For the first time in the 15 years of the Global Risks Report, the climate change and environment risk has occupied all the top five slots.

According to the 15th edition of the World Economic Forum's (WEF) Global Risks Report, the top five risks in terms of likelihood are extreme weather, climate action failure, natural disasters, biodiversity loss and human-made environmental disasters. They all fall in the one category of climate change and related environmental disasters.

WEF President Borge Brende said the world was feeling long-mounting and interconnected risks.

The report also points to how citizens are protesting across the world as discontent rises with failed systems that are creating inequality. The citizens' discontent had hardened with systems that had failed to promote advancement, it said.

"Disapproval of how governments are addressing profound economic and social issues has sparked protests throughout the world, potentially weakening the ability of governments to take decisive action should a downturn occur. Without economic and social stability, countries could lack the financial resources, fiscal margin, political capital or social support needed to confront key global risks," it said.

Listing the grim scenario, Borge said the global economy was faced with "synchronised slowdown", the past five years had been the warmest on record and cyber attacks were expected to increase this year.

The report warns that while the myriad risks were rising, time was running out on how to prevent them.

Borge said the growing palpability of shared economic, environmental and societal risks indicated that the horizon had shortened for preventing "or even mitigating" some of the direst consequences of global risks.

"It's sobering that in the face of this development, when the challenges before us demand immediate collective action, fractures within the global community appear to only be widening," he said.

The report points to grave concern about the consequences of continued environmental degradation, including the record pace of species decline.

Pointing to an unsettled geopolitical environment, the report said today's risk landscape was one in which new centres of power and influence were forming and old alliance structures and global institutions were being tested.

"While these changes can create openings for new partnership structures in the immediate term, they are putting stress on systems of coordination and challenging norms around shared responsibility. Unless stakeholders adapt multilateral mechanisms for this turbulent period, the risks that were once on the horizon will continue to arrive," it said.

Calling it a "an unsettled world", the WEF report notes that powerful economic, demographic and technological forces were shaping a new balance of power. "The result is an unsettled geopolitical landscape in which states are increasingly viewing opportunities and challenges through unilateral lenses," it said.

"What were once givens regarding alliance structures and multilateral systems no longer hold as states question the value of long-standing frameworks, adopt more nationalist postures in pursuit of individual agendas and weigh the potential geopolitical consequences of economic decoupling. Beyond the risk of conflict, if stakeholders concentrate on immediate geo-strategic advantage and fail to re-imagine or adapt mechanisms for coordination during this unsettled period, opportunities for action on key priorities may slip away," the WEF said.

In a chapter on risks to economic stability and social cohesion, it said a challenging economic climate might persist this year and members of the multi-stakeholder community saw "economic confrontations" and "domestic political polarisation" as the top risks in 2020.

The report also warned of downward pressure on the global economy from macroeconomic fragilities and financial inequality. These pressures continued to intensify in 2019, increasing the risk of economic stagnation.

Low trade barriers, fiscal prudence and strong global investment, once seen as fundamentals for economic growth, are fraying as leaders advance nationalist policies. The margins for monetary and fiscal stimuli are also narrower than before the 2008-2009 financial crisis, creating uncertainty about how well countercyclical policies will work.

The strategic partners for the WEF report included Marsh & McLennan and Zurich Insurance Group. The academic advisers were National University of Singapore, Oxford Martin School, University of Oxford and Wharton Risk Management and Decision Processes Center, University of Pennsylvania.

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Agencies
July 2,2020

Moscow, Jul 2: Russian voters approved changes to the constitution that will allow President Vladimir Putin to hold power until 2036, but the weeklong plebiscite that concluded Wednesday was tarnished by widespread reports of pressure on voters and other irregularities.

With most of the nation's polls closed and 20% of precincts counted, 72% voted for the constitutional amendments, according to election officials.

For the first time in Russia, polls were kept open for a week to bolster turnout without increasing crowds casting ballots amid the coronavirus pandemic a provision that Kremlin critics denounced as an extra tool to manipulate the outcome.

A massive propaganda campaign and the opposition's failure to mount a coordinated challenge helped Putin get the result he wanted, but the plebiscite could end up eroding his position because of the unconventional methods used to boost participation and the dubious legal basis for the balloting.

By the time polls closed in Moscow and most other parts of Western Russia, the overall turnout was at 65%, according to election officials. In some regions, almost 90% of eligible voters cast ballots.

On Russia's easternmost Chukchi Peninsula, nine hours ahead of Moscow, officials quickly announced full preliminary results showing 80% of voters supported the amendments, and in other parts of the Far East, they said over 70% of voters backed the changes.

Kremlin critics and independent election observers questioned the turnout figures.

We look at neighboring regions, and anomalies are obvious there are regions where the turnout is artificially (boosted), there are regions where it is more or less real, Grigory Melkonyants, co-chair of the independent election monitoring group Golos, told The Associated Press.

Putin voted at a Moscow polling station, dutifully showing his passport to the election worker. His face was uncovered, unlike most of the other voters who were offered free masks at the entrance.

The vote completes a convoluted saga that began in January, when Putin first proposed the constitutional changes.

He offered to broaden the powers of parliament and redistribute authority among the branches of government, stoking speculation he might seek to become parliamentary speaker or chairman of the State Council when his presidential term ends in 2024.

His intentions became clear only hours before a vote in parliament, when legislator Valentina Tereshkova, a Soviet-era cosmonaut who was the first woman in space in 1963, proposed letting him run two more times.

The amendments, which also emphasize the primacy of Russian law over international norms, outlaw same-sex marriages and mention a belief in God as a core value, were quickly passed by the Kremlin-controlled legislature.

Putin, who has been in power for more than two decades longer than any other Kremlin leader since Soviet dictator Josef Stalin said he would decide later whether to run again in 2024.

He argued that resetting the term count was necessary to keep his lieutenants focused on their work instead of darting their eyes in search for possible successors.

Analyst Gleb Pavlovsky, a former Kremlin political consultant, said Putin's push to hold the vote despite the fact that Russia has thousands of new coronavirus infections each day reflected his potential vulnerabilities.

Putin lacks confidence in his inner circle and he's worried about the future, Pavlovsky said.

He wants an irrefutable proof of public support.

Even though the parliament's approval was enough to make it law, the 67-year-old Russian president put his constitutional plan to voters to showcase his broad support and add a democratic veneer to the changes.

But then the coronavirus pandemic engulfed Russia, forcing him to postpone the April 22 plebiscite.

The delay made Putin's campaign blitz lose momentum and left his constitutional reform plan hanging as the damage from the virus mounted and public discontent grew.

Plummeting incomes and rising unemployment during the outbreak have dented his approval ratings, which sank to 59%, the lowest level since he came to power, according to the Levada Center, Russia's top independent pollster.

Moscow-based political analyst Ekaterina Schulmann said the Kremlin had faced a difficult dilemma: Holding the vote sooner would have brought accusations of jeopardizing public health for political ends, while delaying it raised the risks of defeat.

Holding it in the autumn would have been too risky, she said.

In Moscow, several activists briefly lay on Red Square, forming the number 2036 with their bodies in protest before police stopped them.

Some others in Moscow and St. Petersburg staged one-person pickets and police didn't intervene.

Several hundred opposition supporters rallied in central Moscow to protest the changes, defying a ban on public gatherings imposed for the coronavirus outbreak. Police didn't intervene and even handed masks to the participants.

Authorities mounted a sweeping effort to persuade teachers, doctors, workers at public sector enterprises and others who are paid by the state to cast ballots. Reports surfaced from across the vast country of managers coercing people to vote.

The Kremlin has used other tactics to boost turnout and support for the amendments.

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News Network
May 25,2020

Beijing, May 25: China has reported 51 new coronavirus cases including 40 asymptomatic infections, majority of them in the contagion's first epicentre Wuhan, where over six million tests have been conducted in the last 10 days, health officials said on Monday.

The country's National Health Commission (NHC) said that 11 new imported cases were reported on Sunday.

While no new domestically-transmitted COVID-19 cases were reported in China on Sunday, 11 imported cases including 10 in the Inner Mongolia Autonomous Region and one in Sichuan province were reported, the NHC said in its daily report.

Out of the 40 new asymptomatic cases, 38 were reported in Wuhan, which is currently undergoing mass testing of its over 11.2 million people after a spike in the asymptomatic cases.

Currently, 396 people with asymptomatic symptoms are under medical observation in China, including 326 in Wuhan, according to the health authority.

Asymptomatic cases refer to the patients who have tested COVID-19 positive but develop no symptoms such as fever, cough or sore throat. However, they pose a risk of spreading the disease to others.

Wuhan, which earlier had over 50,000 cases between January and March, started a campaign on May 14 to expand the nucleic acid testing in order to better know the number of asymptomatic cases or people who show no clear symptoms despite carrying the virus.

According to the latest figures released by the Wuhan municipal health commission, the city conducted more than 6 million nucleic acid tests between May 14 and 23.

On Saturday, the city carried out nearly 1.15 million tests, state-run Xinhua news agency reported on Monday.

Nucleic acid testing is a molecular technique for screening blood donations to reduce the risk of transfusion transmitted infections.

As of Sunday, a total of 82,985 confirmed COVID-19 cases have been reported in China with 4,634 fatalities, the NHC added.

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Agencies
July 21,2020

Washington, Jul 21: Some half-a-dozen influential Republican lawmakers on Monday introduced a legislation in the Senate to allow Americans to sue China in federal court for its role in causing the coronavirus pandemic.

The Civil Justice for Victims of Covid Act gives federal courts authority to hear claims that China has caused or substantially contributed to the Covid-19 pandemic.

Introduced by senators Martha McSally, Marsha Blackburn, Tom Cotton, Josh Hawley, Mike Rounds and Thom Tillis, the bill strips China of its sovereign immunity for reckless actions that caused the pandemic and creates a cause of action. It also authorises federal courts to freeze Chinese assets.

The legislation is closely modelled after the 2016 Justice Against Sponsors of Terrorism Act (JASTA) that gave more legal remedies to victims of terrorism, particularly the 9/11 victims.

“Americans who have been victimised by the lies and deceit of the Chinese Communist Party-to include those who lost loved ones, suffered business losses, or were personally harmed due to Covid-19-deserve the opportunity to hold China accountable and to demand just compensation,” McSally said.

As the death toll and financial losses of Covid-19 mount, China should be forced to pay the costs of these damages to the American people, he said.

Blackburn said that China's Communist Party must face consequences for concealing and now profiting off the Covid-19 pandemic they enabled.

“The costs are devastating: trillions of dollars in economic damage, millions of American jobs lost, and over a half million deaths worldwide – and counting. Business owners and families who have lost loved ones deserve justice,” he said.

By silencing doctors and journalists who tried to warn the world about the coronavirus, the Chinese Communist Party allowed the virus to spread quickly around the globe, Cotton said, adding their decision to cover up the virus led to thousands of needless deaths and untold economic harm.

Rounds said that China must be held accountable for its failure to contain Covid-19 and alleged that the country's delay in sharing the seriousness of the virus with the rest of the world isn't just negligence— it is criminal in nature.

“If China would have been transparent from the start, many more lives would have been saved in all parts of the world. Our legislation provides the tools necessary for American citizens to sue the Chinese Communist Party in federal court for financial losses incurred because of Covid-19,” he said.

Tillis alleged that the Chinese Communist Party lied to the world about Covid-19 and allowed it to become a global pandemic, causing many Americans to tragically lose their loved ones and face immense financial hardship.

“The American people deserve the right to hold the Chinese government accountable for its malicious actions, and I'm proud to join my colleagues in introducing this commonsense bill,” he said.

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