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July 14th - Amidst heightened investor anxiety over a sell-off in AI-driven tech stocks, this weeks earnings reports from TSMC (TSM.N) and ASML (ASML.O) are more significant than ever. TSMCs capital expenditure plans are among the most closely watched data points in Nvidias supply chain, while ASMLs capacity planning will provide crucial clues about the industrys expansion pace. Market expectations for both companies earnings have now reached almost unassailable levels, making previously surging stocks more susceptible to pullbacks after the results are released. Pepperstone strategist Dilin Wu stated, "The market is currently in a very fragile position. These two earnings reports from ASML and TSMC will either support this sell-off or exacerbate the decline. Either way, the market reaction could be very pronounced." TSMC previously stated that its capital expenditures this year will approach a record $56 billion, but UBS predicts that the figure could reach as high as $60 billion.On July 14, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated that the Tanzania-Zambia Railway (TAZARA) is a historical monument to China-Africa friendship. More than 50 years ago, despite its own severe economic difficulties, China resolutely decided to assist in the construction of the TAZARA, providing strong support for the national liberation and development of countries in the region. The people of China, Tanzania, and Zambia joined hands and worked shoulder to shoulder during the construction of the TAZARA, jointly forging the great spirit of the TAZARA and leaving a valuable spiritual legacy for future generations. Lin Jian stated that, standing at a new historical starting point, China is willing to work with Tanzania and Zambia to jointly promote the revitalization and prosperity of the TAZARA railway, jointly building a road of freedom, development, friendship, happiness, green development, and harmony, helping the three countries and other countries in the region to jointly build modernization, and injecting new and inexhaustible impetus into the construction of an all-weather China-Africa community with a shared future in the new era.Commander of Ukrainian drone forces: Ukrainian drones have hit 11 more Russian ships in the Sea of Azov.July 14th - A recent Bank of America global fund manager survey shows that global investor sentiment has risen to its highest level since February. Fund managers are more optimistic about the global economic outlook, AI-related spending, and the Federal Reserves dovish policy. The survey shows that fund managers cash allocation ratio has fallen to an "extremely low level" of 3.6% from 4.1% in June, triggering a contrarian sell signal from Bank of America. Meanwhile, a record proportion of respondents expect a "no-landing" scenario for the global economy. The survey was conducted from July 2nd to July 9th, between the temporary ceasefire agreement reached between the US and Iran and the renewed escalation of the conflict.July 14 - Due to rainfall, the inflow to Fengman Reservoir (Jilin Fengman) on the Songhua River in Jilin Province reached 10,900 cubic meters per second at 2 PM on July 14. According to the regulations for numbering floods in major rivers, this flood is designated as "Songhua River Jilin Section 2026 No. 1 Flood".

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.