Qin Gang - A + A WASHINGTON/HONG KONG (Aug 17): China called on the US to refrain from sailing naval vessels through the Taiwan Strait, saying Beijing would take further action in the wake of House Speaker Nancy Pelosi’s visit to Taipei. China’s ambassador to Washington, Qin Gang, said on Tuesday that China viewed such Taiwan transits as an escalation by the US and an effort to support the “separatist” government in Taipei. He delivered the warning after Senator Edward Markey, a Massachusetts Democrat, wrapped up the second trip to the island in less than two weeks by a US congressional delegation. “The US side has done too much and going too far in this region,” Qin said in response to a question about potential naval patrols. “I do call on our American colleagues to refrain, to exercise restraint, not to do anything to escalate the tension. So if there’s any moves damaging China’s territorial integrity and sovereignty, so China will respond. China will … [Read more...] about China warns US against sailing warships through Taiwan strait
The Seoul Central District Court made the ruling and ordered the immediate detention of Park after finding him guilty of most of charges. The 77-year-old Park resigned as chairperson of Kumho Asiana Group and Asiana Airlines in 2019 to take responsibility for bookkeeping irregularities at the nation's No. 2 carrier. He was arrested and indicted in May last year on multiple criminal charges but was released on bail in November. Park is accused of masterminding unfair related-party transactions in violation of the Monopoly Regulation and Fair Trade Act to rebuild the group and regain control of group companies. Park was indicted for withdrawing 330 billion won ($252 million) from four companies in 2015 to pay for the return of Kumho Industrial shares from the state-funded Korea Development Bank and other creditors. Park was also charged with inflicting losses on Asiana Airlines by leading the airline company to undersell 100 percent of its shares in Kumho Terminal to Kumho … [Read more...] about Ex-Kumho Asiana chair gets 10 years for unfair deals, embezzlement
Share to Twitter Share to Linkedin With fewer than 100 days until the midterms and President Biden's approval rating underwater, Democrats are desperate for a political win they can trumpet on the campaign trail. They're hoping the deceptively named Inflation Reduction Act is it. At the center of the bill is $64 billion in subsidies for health insurance purchased through Obamacare's exchanges. They're an extension of the subsidies created as part of the 2021 American Rescue Plan Act. They were supposed to expire at the end of this year—temporary measures to help households weather the economic impact of the pandemic. But if that happened, people would've received notices of massive premium hikes just before they headed to the polls. Hence, the Inflation Reduction Act's move to extend them for three more years, through 2025. It's a transparent ploy for votes. And it obscures just how much the Affordable Care Act has failed to live up to its name. … [Read more...] about Dems’ Reconciliation Package Obscures Obamacare’s Failures With Taxpayer Cash
Share to Twitter Share to Linkedin Does setting an ambitious goal encourage concerted efforts to reduce emissions, or is it more likely to make the public more cynical about the intractability of the problem? You might love or hate Franklin Delano Roosevelt, but I wish that subsequent presidents would forget about his “100 days” program which was intended to be an emergency action addressing the Great Depression. It has left at least some of his successors feeling they need to show similar verve in designing policies to address the most salient problems of the day. Most such have not been a success, with the Clinton effort to quickly fashion and enact a health care plan one of the most obvious failures. In keeping with tradition, the Biden Administration has come up with a goal of reducing American greenhouse gas emissions by 50% by 2030. Biden’s vision has met with the usual degree of praise, scorn and skepticism, validating the old maxim ‘where you … [Read more...] about Biden’s Climate Goals Are Unrealistic. Does That Help Or Hurt Emissions Reduction?
Share to Twitter Share to Linkedin It’s a bit of unreported on history that will eventually vanish, but back in 2005 Ben Bernanke went on a “listening” and “courting” tour. This thoroughgoing Keynesian who believed deeply that economic growth caused inflation, that government spending boosted growth, and most laughably, that “tight money” from the Fed brought on the 1930s, tried to refashion himself as a “Republican” economic thinker, whatever that means. Bernanke met with anyone on the Right who would meet with him, and who theoretically had juice. His motives were clear: he was on George W. Bush’s shortlist for Federal Reserve Chairman, at which point he was checking the various Right-wing boxes. He even had lunch with Cato co-founder and President Ed Crane. Crane was clear about his disdain for the Phillips Curve (see above), only for Bernanke to mutter something indecipherable about growth and inflation a la Alan Greenspan’s own inscrutable mutterings as Fed … [Read more...] about Alan Greenspan’s Genius at the Federal Reserve Was In Hiding How Little He Knew
Share to Twitter Share to Linkedin Federal statutes in the U.S. Code and agency rules in the Code of Federal Regulations are easy to locate online. This is not the case , however, for the thousands of sub-regulatory guidance documents and “interpretative rules,” notices, bulletins, circulars, memoranda and so forth . But then again, these were never easy to locate offline either. Guidance documents are ostensibly non-binding, meant to inform or provide clarity, but guidance can be inapprorpriately leveraged to influence policy and public behavior, according to the Administrative Conference of the United States . This is a concern especially in presidential administrations inclined to deploy the “pen and phone,” as Obama did; or to “act without Congress,” as Biden’s spokespeople often declare he can do. So it was a good thing back in 2019 when Donald Trump issued “ Promoting the Rule of Law through Improved Agency Guidance Documents ” … [Read more...] about Good News On Red Tape? Some Trump-Era Federal Agency Guidance Document Portals Remain Intact
Share to Twitter Share to Linkedin The legal industry has been remarkably buoyant in a tumultuous world. It has weathered 9/11, the global financial crisis, economic downturns , automation, digital transformation , domestic and international instability, and the Pandemic. Through it all, the legal sector has prospered financially , even as its resistance to change has misaligned it with business and distanced it from society . Law’s financial success has come at a steep price—the health and well-being of its workforce, an obscured purpose, and high profits but low customer satisfaction. Public trust in lawyers , legal institutions , and the vitality of the rule have law are historically low. Most Americans believe the legal system is accessible only to the wealthy and the data confirms this. The legal system is widely perceived as lacking accessibility impartiality, transparency, diversity reflective of the society it purports to serve, … [Read more...] about Democratic Degradation Is Law’s Ultimate Disruptor