Economics – Liberal News Network https://liberalnewsnetwork.com Mon, 14 Apr 2025 15:01:19 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://liberalnewsnetwork.com/wp-content/uploads/2024/09/WhatsApp-Image-2024-09-06-at-20.47.55_6761ae0c-150x150.jpg Economics – Liberal News Network https://liberalnewsnetwork.com 32 32 U.S China Trade War Explodes https://liberalnewsnetwork.com/2025/04/10/the-economic-trade-war-explodes/ Thu, 10 Apr 2025 10:55:38 +0000 https://liberalnewsnetwork.com/?p=4635 Washington, USA- The simmering tensions between the world’s two largest economies has officially hit a fever pitch. China has defiantly stood its ground, refusing to buckle under the weight of U.S. tariffs.  In a stunning escalation of the ongoing trade war, Xi Jinping’s government has imposed a staggering 125% tariff on selected American goods, ranging from agricultural products and automotive exports to high-tech equipment. But the blow wasn’t just economic.

Xi Jinping’s government has also issued a travel advisory cautioning its citizens against travel to the United States, citing “escalating safety concerns and unpredictable policy environments.”

According to the latest press conference in China, Xi Jinping is “not backing down,” citing  President Tump’s tariffs as United States blackmail. This retaliatory move follows President Trump’s recent utterances.

Trump’s tightening grip on trade restrictions and China’s goods and services seems to have raised the temparature on the global states. Washington’s rhetoric around “economic security” has drawn Beijing’s ire, and now, the gloves are off.

Analysts warn that the 125% tariffs could have crippling consequences for American exporters, especially farmers and manufacturers who are already grappling with supply chain uncertainties, rising input costs, and declining demand from global markets.

As this ensues, American consumers may soon start to feel the pinch. House goods prices may begin to rise beyond expectations and global inflationary pressures could ripple outward, potentially destabilizing already fragile economies in the Global South.

Notably, it is a tightrope walk for businesses as tariffs keep changing every fortnight.  Ironically, the trade war is opening up new lanes of opportunity, as emerging markets are increasingly being considered alternative suppliers in critical sectors like rare earth minerals, solar panels, and agri-tech. Countries such as Vietnam, already rising in electronics and solar panel manufacturing; Indonesia, with its rich nickel reserves and EV battery potential; and India, leveraging its IT strength and expanding semiconductor and agritech industries, are at the forefront. Thailand is gaining ground in electronics and automotive components.

Meanwhile, in Africa, Kenya is emerging as a climate-smart agri-tech hub, South Africa holds strategic rare earth minerals vital for the green energy transition, and Morocco is becoming a key player in solar energy and phosphate-based fertilizers. As global players diversify away from U.S., China tensions, the pressing question is whether these nations can scale up fast enough to meet the resulting demand and reshape the future of global trade

]]> Kenya Forges Ahead Despite Challenges, UN Partnership Delivers Results https://liberalnewsnetwork.com/2024/04/30/kenya-forges-ahead-despite-challenges-un-partnership-delivers-results/ https://liberalnewsnetwork.com/2024/04/30/kenya-forges-ahead-despite-challenges-un-partnership-delivers-results/#comments Tue, 30 Apr 2024 07:40:19 +0000 https://liberalnewsnetwork.com/?p=568 Nairobi, Kenya – In a year marked by global turmoil, Kenya seems to have emerged as a beacon of progress, forging ahead with its ambitious development agenda. This success story, however, wouldn’t be complete without highlighting the critical role played by the 24 United Nations agencies, whose unwavering partnership delivered tangible results.

Despite facing regional and international instability, Kenya leaped foward, receiving nearly USD $600 million in UN support throughout 2023. This funding proved instrumental in tackling unprecedented challenges like the El Niño floods, where over 450,000 people received life-saving assistance. The UN also partnered with the Government of Kenya during food shortages, with nearly 10 million benefiting from vital food programs and malnutrition initiatives.

Beyond immediate needs, the UN-Kenya partnership yielded long-term benefits which will hopefully be realized in the course of 2024.

Notably, Kenya co-hosted a pivotal Africa Climate Summit, resulting in the impactful “Nairobi Declaration,” which is now a roadmap for tackling climate change. Similarly, UN support for the Youth Connekt Africa Summit underscored a shared vision that is inclusive of Africa’s young population.

Additionally, Kenya is also breaking new ground with the world’s first Development Impact Bond for adolescent health. This innovative program has already empowered over 82,000 young girls with sexual and reproductive health services, and has potential to impact over half a million in the long run.

Challenges and Shifting Landscapes

Kenya’s growth trajectory towards middle-income status presents a unique opportunity to analyze the decoupling of traditional Official Development Assistance (ODA) from long-term development. Despite positive economic indicators, the decline in ODA raises concerns about its potential impact on sustaining growth.

UN Resident Coordinator Dr. Stephen Jackson acknowledges this shift as a potential game-changer for Kenya’s development path. However, he underscores the importance of a unified approach, stating, “While celebrating progress, a unified approach is crucial.

Markedly a significant fraction of the 2023 UN budget for Kenya was directed towards achieving the UN’s goal of ending hunger (SDG 2) (Zero Hunger). This highlights the potential threat that food security, particularly in the context of ongoing climate change, poses to Kenya’s projected progress.

Dr. Jackson also acknowledged of a possibility of diminishing funding stating, “Not as much co-funding trickles down from New York,” but,  reassured that there is a possibility for the new development in Kenya to be realized through joint programming.”

Apart from monetary aid uncertainties, Kenya faces additional challenges. In a video presentation, Dr. Medhin Tsehaiu of UNAIDs, highlighted the “triple effect” – interlocking vulnerabilities faced by Kenyan girls and young women during crises. This challenge translates to increased economic insecurity (poverty), heightened risk of HIV/AIDS acquisition, and a surge in gender-based violence (GBV). These issues could  further complicate Kenya’s development journey.

A Model for Collaboration

The UN’s continued commitment to Kenya, through multi-stakeholder partnerships, embodies the “no one is left behind” principle. This collaborative approach aligns with the economic ideal of inclusive growth. Interestingly, a Finnish representative highlighted Kenya’s potential as a “fantastic laboratory for development,” recognizing its progress as a model for other developing economies.

However, the Kenyan-UN partnership must adapt to Kenya’s changing needs. As the nation transitions to a middle-income economy by 2026, resource allocation will likely shift. The nature of the partnership itself may need to evolve to prioritize different aspects of the UN Sustainable development cooperation framework for Kenya 2022-2026.

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Kenya’s Watchdogs: Civil Society Scrutinizes Budget and Debt Plans https://liberalnewsnetwork.com/2024/02/27/kenyas-watchdogs-civil-society-scrutinizes-budget-and-debt-plans/ Tue, 27 Feb 2024 10:16:06 +0000 https://liberalnewsnetwork.com/?p=287 NAIROBI, Kenya – Kenyan civil society organizations are flexing their muscles, taking an active role in shaping the country’s fiscal future. Following a call from the National Assembly, the Civil Society Parliamentary Engagement Network (CSPEN) gathered its members to jointly review and submit a memorandum on the Draft 2023 Budget Policy Statement (BPS) and Medium-Term Debt Management Strategy (MTDMS).

This collaboration was a crucial to enhance public participation in Kenya’s fiscal management which only has a short window of 14 days. Taking into consideration that the BPS is considered a cornerstone of Kenya’s  public finance management, the government’s spending priorities, goals, and medium-term direction. This year’s statement emphasizes reducing the fiscal deficit and mitigating the risks associated with Kenya’s rising public debt.

Moreover, the Medium-Term Debt Management Strategy, delves specifically into Kenya’s debt management. It seeks to lower debt-related costs and risks, ensure debt sustainability, and explore diverse funding sources while considering macroeconomic factors like growth, inflation, and exchange rates.

CSPEN’s involvement underscores the importance of civil society engagement in fostering accountability, transparency, and public trust. By actively participating in the budget review process, these organizations ensure citizens’ interests are considered and contribute to effective and responsible governance.

While Kenya strives to navigate its fiscal landscape, collaborative efforts like those undertaken by CSPEN remain essential to shaping policies that benefit all citizens and pave the way for a sustainable economic future.

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Congolese Feminists Dive Deep: Empowering Voices in the Digital Ocean https://liberalnewsnetwork.com/2023/06/30/congolese-feminists-dive-deep-empowering-voices-in-the-digital-ocean/ Fri, 30 Jun 2023 16:36:07 +0000 https://liberalnewsnetwork.com/?p=137 From the heart of the Democratic Republic of Congo, a wave of feminist action is rising, fuelled by the power of technology. In a land where online access is still rare, Congolese women are defying limitations and plunging into the digital space, armed with smartphones and a burning desire for change.

The internet, once a distant mirage, is becoming a battleground for equality. Social media platforms, like potent megaphones, amplify previously unheard voices. Congolese feminists are sharing stories of resilience, challenging harmful norms, and building a vibrant online community where solidarity thrives.

But navigating the digital ocean requires caution and skill. Recognizing this,the African Women’s and Development Network (FEMNET0, Oxfam, and the European Union joined forces to equip Congolese women with the tools they need to navigate the web with confidence. A recent ICT training workshop in Kinshasa armed participants with the expertise to document their stories, craft powerful campaigns, and engage in crucial online discussions.

Mirjanan Florine Kazala, Coordinator at Congo Compétence avec les Jeunes, echoed the transformative power of technology: “ICT is a formidable tool for communication, change, and empowerment of women and girls,” she emphasized, highlighting its ability to open doors for young women to strengthen their communities.

Akumu Pamba, Feminist Monitoring Advisor at Oxfam, echoed this sentiment, adding that ICT empowers women with “economic and social power to reduce and eradicate poverty.” Through technology, Congolese women gain a fresh perspective to tackle contemporary challenges and contribute meaningfully to closing the digital divide, both within their communities and on a global scale.

This digital dive isn’t just about online advocacy; it’s about reclaiming power and rewriting narratives. By mastering ICT skills, Congolese women are actively participating in achieving Sustainable Development Goals 5 and 10, working towards gender equality and a more equitable world.

Antonio Guterres, UN Secretary-General, issued a stark warning during CSW 67: “The gender digital divide is becoming the new face of gender inequality.” His call for action resonated through the halls, urging policymakers to ensure equal access to digital learning opportunities for all women and girls.

The Kinshasa training stands as a testament to this commitment. In a country where only 19% of the population enjoys internet access, this initiative represents a vital step towards closing the digital gap and amplifying the voices of Congolese women on the global stage.

Laetitia Mazamba Mumbanda, from ACTIF in Congo, emphasized the essential role of inclusivity: “The digital space should be made available to women and girls because it is an avenue that can promote a balanced society,” she declared.

Carole Gatoto, FEMNET project coordinator, summed it up perfectly: “ICT is an innovative and creative way to influence actions for the advancement of Women and Girls in Africa and globally.”

As Congolese feminists continue their digital journey, their stories of courage and innovation serve as an inspiration to women worldwide. The waves they create in the digital ocean are a testament to the transformative power of technology and the unwavering spirit of those who fight for a just and equal future.

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