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On April 20th, it was reported that the "Hainan Province 15th Five-Year Plan for Service Industry Development (Draft for Public Comment)" was recently released for public comment. The plan mentions coordinating various transportation modes, including aviation, shipping, and urban transportation, optimizing the connection and coordination efficiency between different transportation systems, and building a safe, convenient, efficient, green, and economical modern comprehensive transportation system. It also aims to improve comprehensive transportation service capabilities, support the efficient and convenient export of "new three products" (new energy vehicles, lithium batteries, and photovoltaic products), and strengthen Hainans role as a strategic pivot in the "dual circulation" development strategy. By 2030, it aims to increase waterborne freight turnover by 40% and air passenger turnover by 30%.Huawei Terminal: The Huawei Pura series and all-scenario new product launch event will officially kick off at 14:30 today.April 20th, Futures News: Economies.com analysts latest view: Spot gold prices have retreated, mainly due to the Relative Strength Index (RSI) releasing a negative signal after reaching overbought levels. This pullback aims to alleviate the overbought condition and moderate momentum before attempting a renewed upward move. The decline brought prices back to the EMA50 support level, while also finding support at the short-term upward correction trendline. The strengthening of this support area makes it a key technical support zone, potentially helping spot gold prices regain positive momentum and move higher in the coming period.April 20th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices surged during intraday trading, primarily supported by a positive signal from the Relative Strength Index (RSI) after reaching oversold levels. This movement reflects an attempt by prices to alleviate oversold conditions and regain some upward momentum. This rally pushed prices to test the short-term downtrend line and also touched the resistance level of the EMA50 moving average. This area is technically significant as it represents a key resistance zone that could determine the subsequent price direction: a successful breakout would confirm a continuation of the rebound; a failed breakout could lead to renewed downward pressure.April 20th, Futures News: Economies.com analysts latest view: Brent crude futures maintained a strong upward trend during the session, attempting to recover previous losses. Meanwhile, prices are struggling to alleviate the clearly oversold condition on the Relative Strength Index (RSI), especially given the positive signals. Nevertheless, Brent crude futures continue to face dynamic negative pressure, primarily reflected in its price trading below the 50-day EMA, which further reinforces the dominance and stability of the corrective downtrend, especially as prices fluctuate near the support trendline of this trend path.

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.