Гроші «Промінвестбанку» залишился замороженими на рахунках американського банку Mellon
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«Ми плануємо додати в енергосистему 1,7 ГВт до наступної зими у результаті ремонтної кампанії»
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The U.S. Department of Agriculture is seeking to lower food prices and boost competition by joining with 31 states and Washington, D.C., to target price fixing and other anticompetitive behavior in the food and agriculture sectors. 

The USDA on Wednesday said it would coordinate with the bipartisan group of attorneys general on antitrust enforcement amid concerns about industry practices. 

Farmers and ranchers have for decades complained of poor prices and unfair contracts from the biggest buyers and processors in the highly consolidated agriculture sector. 

Months of food price inflation, only recently abating, have also raised questions from farm groups and lawmakers about whether companies were artificially hiking prices. 

“We can ensure a more robust and competitive agricultural sector,” said Agriculture Secretary Tom Vilsack in a statement. 

The USDA partnership with states will focus on anticompetitive practices including price fixing and gouging, as well as create new research programs to study the issue, the department said. 

In the coming months, USDA will also finalize new rules under the Packers and Stockyards Act, a century-old antitrust law meant to protect farmers from anticompetitive conduct, a senior administration official said in a call with reporters. 

USDA has already proposed two of three expected rules. 

The agency will also disburse additional grants to expand meat and poultry processing capacity that would increase the number of options for ranchers, the official said. 

President Joe Biden, a Democrat who has pledged to tackle anticompetitive conduct across the economy, is scheduled to meet with Vilsack and other members of his competition council later Wednesday. 
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U.S. Treasury Secretary Janet Yellen this week said that if the Biden administration issues expected new rules limiting outbound U.S. investment in China, they will not be highly disruptive to trade between the two countries, and will focus on national security concerns.

“We are looking carefully at outbound investment controls, and they would serve as a complement to the export controls that we have in place, to make sure that we’ve covered all the channels by which technologies can be transferred to China that we think pose national security concerns,” Yellen said.

The rules, expected from the Biden administration sometime this summer, would focus on semiconductors, quantum computing and artificial intelligence, the Treasury secretary said. Yellen added that they will be “narrowly scoped” and “would not be broad controls that would affect U.S. investment broadly in China, or in my opinion, have a fundamental impact on affecting the investment climate for China.”

Yellen’s remarks came in an interview with Bloomberg Television on Monday, from the sidelines of a meeting of the finance ministers of the world’s largest economies in Gandhinagar, India.

Yellen indicated that she had spoken to Chinese officials about the rules, saying, “What I tried to explain to our Chinese counterparts is that our desire is to make these U.S. policies clearly national-security focused, transparent and narrow, and that we’re not attempting to stifle economic progress in China. We have, and want to continue to have, deep economic ties.”

Yellen was careful in her language to suggest that a final decision about whether to issue the outbound investment rules has not been made.

Addition to export controls

The Biden administration’s effort over the past two years to prevent China from obtaining certain technologies, and a years-long effort by the U.S. to block certain Chinese technology firms from participating in essential infrastructure, like 5G broadband systems, have angered China.

Most recently, the administration has put measures in place to block Chinese companies from purchasing cutting-edge microchips and the equipment to manufacture them.

These policies have led to accusations by China that the aim of the U.S. is to block China’s economic progress in order to prevent it from playing a larger role in the global economy and in international relations.

Those concerns were repeated after Yellen’s recent remarks.

China replies

In a press conference on Monday, Chinese Foreign Ministry spokesperson Mao Ning commented on the coming restrictions.

“China opposes U.S. politicizing and weaponizing of trade and tech issues,” she said. “It is in no one’s interest to place arbitrary curbs on normal technology cooperation and trade, violate the market economy principles and destabilize global industrial and supply chains.”

She added, “We hope that the U.S. will follow through on President Biden’s commitment of not seeking to ‘decouple’ from China, halt China’s economic development or contain China and create a sound environment for China-U.S. economic cooperation and trade.”

In her remarks Monday, Yellen stressed the administration’s desire to improve relations with China, saying, “We now have a new economic team in China that we need to establish relationships with. We need to get our relationship back in a more stable place with a floor under it, and try to promote general understanding between our countries.”

Chinese economic woes

In the background of the discussion of U.S. restrictions on outbound investment in China is increasing evidence that the Chinese economy is struggling. Economic growth has slowed sharply, and the yuan has been losing value against other global currencies.

On Monday, official numbers released by Beijing said that the economy had grown by just 0.8% from the end of the first quarter of 2023 through the end of the second quarter, a rate much lower than expected.

Also this week, the country’s troubled real estate conglomerate, Evergrande, revealed that in 2021 and 2022, it lost more than $81 billion, and still carries obligations worth $340 billion, including some $140 billion to raw materials suppliers and many thousands of Chinese who paid in advance for homes that were never built. Evergrande has become a symbol of the country’s deeply troubled real estate sector, which is awash in bad debt.

In her remarks on Monday, Yellen noted China’s struggles, and said that there is some danger of weakness in its economy having an impact around the world.

“China has seen slower growth than they expected upon opening up from COVID,” Yellen said. “Consumer spending has been relatively weak. It looks like consumers are more focused on building back their savings buffers, and so growth has been slow when, as you know, youth unemployment is quite high there.”

She said that she expects a slowdown in China to have only a small impact on the U.S.

“Countries do depend on strong Chinese growth to promote growth in their own economies, particularly countries in Asia, and slow growth in China can have some negative spillover to the United States,” she said. “Our growth is slowed but our labor market continues to be quite strong. I don’t expect a recession.”
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Consensus eluded a meeting of finance ministers and central bank governors of the Group of 20 countries that ended Tuesday in India as members failed to bridge their differences on Russia’s war in Ukraine.

“We still don’t have a common language on the Russia-Ukraine war,” Indian Finance Minister Nirmala Sitharaman told reporters after the two-day meeting wrapped up in Gandhinagar city without issuing a joint statement.

Instead, India, which is the president of the group this year, issued what is called a chair summary and an outcome document in which it summed up the talks and noted disagreements.

According to the chair summary, China and Russia objected to paragraphs referring to the war that said it was causing “immense human suffering” and “exacerbating existing fragilities in the global economy.”

The failure to reach an accord was not unexpected. As the war in Ukraine is a matter of sharp diplomatic differences, India has not been able to forge a consensus document at any of the key G20 events held so far.

Several G20 members also condemned Russia for refusing to extend a deal to allow critical Ukrainian grain exports through the Black Sea, India’s finance minister said at a press conference.

Several members condemned it saying that shouldn’t have happened,” Sitharaman said. “Food passing through the Black Sea shouldn’t have been stopped or suspended.”

Russia’s quitting the deal has sparked fears about the impact on low-income countries in Asia and Africa, where high food prices already have pushed more people into poverty.  

While India has remained mostly neutral on the Ukraine war, it has expressed concern about the impact of the conflict on developing countries. It said its priority during its presidency is to focus on the need to help nations grappling with a debt crisis in the wake of the COVID-19 pandemic and the Ukraine conflict.

Sitharaman said members discussed the overall global economic outlook, specifically food and energy issues, climate financing and how to improve assistance to debt-distressed countries. She indicated that progress had been made on key issues.

More than half of all low-income countries are near or in debt distress, twice as many as in 2015, according to U.S. Treasury Secretary Janet Yellen. Before the meeting began, she said that ending the war in Ukraine is “the single best thing we can do for the global economy.”

The chief of the International Monetary Fund, Kristalina Georgieva, emphasized the need for a more effective and speedier debt restructuring process at the meeting.

“The costs of delays in reaching agreement on needed debt treatments are borne acutely by borrower countries and their people, who are least able to bear this burden,” she said.

Global growth is slowing and divergence in the economic fortunes of countries was a persistent concern, Georgieva said. “The world today is more shock-prone and fragile, with climate change, pandemics and Russia’s invasion of Ukraine all causing widespread turmoil.”

World Bank President Ajay Banga echoed similar fears. He spoke of “mistrust that is quietly pulling the Global North and South apart at a time when we need to be uniting,” and said that that “lack of progress was in danger of splitting the global economy to the detriment of the world’s poorest.”

India, which wants to emerge as the voice of what it calls the “Global South” has also been urging the G20 to forge a consensus on reforms for multilateral development banks.

A G20 panel has said in a report that international development banks must create a new funding mechanism and triple sustainable lending by 2030 to eliminate poverty and achieve climate goals. It also called for big changes in their operations.

The summit meeting of the G20 is scheduled to be held in September.
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Проєкт розрахований на два роки і складатиметься з двох етапів, заявив прем’єр
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За висновками ЄК, економіка України в 2022 році скоротилася майже на третину внаслідок російського вторгнення
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