Month: June 2018

New Disclosure Shows Growing Kushner Wealth, Debt

Financial disclosure forms released late Monday show that White House special adviser — and President Donald Trump’s son-in-law — Jared Kushner’s wealth and debt both appear to have risen over the year, an indication of the complex state of his finances and the potential conflicts that confront some of his investments.

 

Disclosures issued by the White House for Kushner and his wife, Trump’s daughter Ivanka, showed that Kushner held assets totaling at least $181 million. His previous 2017 disclosure had showed assets in at least the $140 million range. Kushner and Ivanka Trump, jointly held at least $240 million in assets last year.

 

The financial disclosures released by the White House and filed with the U.S. Office of Government Ethics routinely show both assets and debts compiled in broad ranges between low and high estimates, making it difficult to precisely chart the rise and fall of the financial portfolios of federal government officials.

 

The White House released the disclosures for Kushner and Ivanka Trump on a heavy news day, while the world’s media lavished attention on President Trump’s preparations to meet with North Korea’s Kim Jong Un for talks over nuclear weapons. The White House had released the president’s own financial report last month.

 

A spokesman for the couple said Monday that the couple’s disclosure portrayed both assets and debts that have not changed much over the past year — and stressed that Kushner and Ivanka Trump have both complied with all federal ethics rules.

 

“Since joining the administration, Mr. Kushner and Ms. Trump have complied with the rules and restrictions as set out by the Office of Government Ethics,” said Peter Mirijanian, a spokesman for the couple’s ethics lawyer, Abbe Lowell. “As to the current filing which OGE also reviews, their net worth remains largely the same, with changes reflecting more the way the form requires disclosure than any substantial difference in assets or liabilities.”

 

One of Kushner’s biggest holdings, a real estate tech startup called Cadre that he co-founded with his brother, Joshua, rose sharply in value. The latest disclosure shows it was worth at least $25 million at the end of last year, up from a minimum value of $5 million in his previous disclosure.

 

The bulk of Ivanka Trump’s assets — more than $50 million worth — was contained in a trust that holds her business and corporations. That trust generated over $5 million in revenue last year.

 

She reported a stake in the Trump International Hotel in Washington, D.C., worth between $5 million and $25 million. The hotel has been a focus of lawsuits against the president and ethics watchdogs who say Trump is violating the Constitution by profiting from his office as diplomats spend big money there.

 

The disclosure also showed that Kushner has assumed growing debt over the past year, both expanding his use of revolving lines of credit and taking on additional debt of between $5 million and $25 million as part of his family company’s purchase last year of a New Jersey apartment complex.

 

A series of interim financial reports last year showed that Kushner had increased lines of credit with Bank of America, New York Community Bank and Signature Bank, each from at least $1 million to $5 million. Such moves do not mean that Kushner has yet accumulated that debt, but has the ability to do so.

 

The new disclosure shows that Kushner did take on a new debt last year with Bank of America worth between $5 million and $25 million — but jointly with other investors in Quail Ridge LLC, a company used for his family firm’s purchase of Quail Ridge, a 1,032-unit apartment community in Plainsboro, N.J., near Princeton. The disclosures also showed that Ivanka Trump owns an interest in that purchase through a family trust.

 

The disclosure showed that Kushner reported making at least $5 million in income from the development since Kushner Companies bought the complex in September. The family business has made a splash with high-profile deals for buildings in New York City in the past decade, but lately has been returning to its roots by buying garden apartments in the suburbs.

 

Under an ethics agreement he signed when he joined the administration in early 2017, Kushner withdrew from his position as CEO of Kushner Companies. But even as a passive investor, he retains many lucrative investments — which ethics critics have warned could raise conflicts of interest.

Erdogan Seizes on Growth Figures to Persuade Skeptical Public 

President Recep Tayyip Erdogan, who is campaigning for re-election, seized on the latest Turkish growth figures as a vindication of his economic policies in the face of skepticism from not only voters but international investors of the country’s economic strength.

The economy grew by 7.4 percent in the first quarter, beating expectations. “We continue to be one of the fastest-rowing countries in the world,” Erdogan said at an electoral rally in Istanbul. He also claimed victory against what he called “conspirators” whom he blamed for last month’s heavy falls of the Turkish lira.

In May, the currency fell more than 10 percent as international investors fled the Turkish market over concerns about double-digit inflation and a growing current account deficit. Financial order was only restored by a steep emergency increase in interest rates, which saw the lira recoup some its losses.

Fueling concerns

But analysts warn the strong growth figures will only fuel concerns that the government policy of priming growth by massive public expenditures is unsustainable.

“The current account deficit is more than 6 percent of GDP and inflation above 12 percent, the starting point for the rebalancing process is bad, and a prolonged commitment to a tighter policy mix after the elections will be necessary to avoid further market pressure,” economist Inan Demir of Nomura Holding wrote Monday.

Tighter economic policy usually means reduced government expenditure and higher interest rates.

Turkey’s robust economy has been the bedrock of Erdogan and his ruling AK Party’s 16 years of electoral success. But despite more than a year of sustained strong growth, opinion polls have recorded voter dissatisfaction over the government’s handling of the economy.

Fifty-one percent of voters polled cited the economy as a primary concern, according to the Metropoll polling firm. Last year, security worries topped voter worries. Other polls found that a majority of voters blamed the government for their economic concerns.

“It’s a tremendous liability for Erdogan,” analyst Atilla Yesilada of Global Source Partners said. “This is an economy that grows, but not in labor-intensive way. Employment has decreased in the second quarter (2019), and things have become more expensive, and nobody is investing into new factories because loans have increased in excess of 22 percent.

“And clearly the wealth is not trickling down, whatever wealth has been created is not be felt by people on the streets, so there is a lot of public discontent,” Yesilada added.

The unemployment rate remains about 10 percent, according to recent Turkish Statistical Institute data.

Payments ahead of elections

In May, Erdogan announced two payments of over $200 for pensioners to coincide with religious holidays. The first installment is due this week, and is part of a multibillion-dollar giveaway to voters ahead of elections.

But analyst Yesilada warned the benefits of the payments are being overshadowed by the financial pain of this month’s increase in interest rates.

“We all use loans, the middle class use loans to buy houses; businesses use loans to expand. Even before the latest (interest) hikes, they were already at a 10-year high. Banks have nearly stopped making new loans; we are going into a credit crunch. For me, the recession is inevitable,” Yesilada said.

The president’s challengers are focusing on economic fears.

“Erdogan can’t survive this economic crisis,” CHP Party candidate Muharrem İnce said during a rally in Istanbul Monday. “Turkey is heading to dark days. Don’t be surprised if the Turkish lira hits 8 or 10 to the (U.S.) dollar. When troubled days have come to countries around the world, they couldn’t get through them unless they changed leaders.”

In May, at the start of the presidential and parliamentary elections, the lira was less than four against the U.S. dollar. It now stands at over 4.5, peaking at nearly 5 against the U.S. dollar.

Erdogan’s public construction boom, including building one of the world’s biggest airports as well as some of the longest bridges and tunnels, is also now an electoral target.

“Turkey has resources, but they are in the pockets of thieves. (The government) ran up $453 billion in debt. They collected $2 trillion from your pockets. What happened in return? Did your son find a job?” İYİ (Good) Party presidential candidate Meral Aksener asked.

Critical elections

Analysts predict the two-pronged attack by Erdogan’s challengers over the economy is likely to intensify, as economic concerns are expected to continue to dominate the critical elections.

“This election cycle is happening against a background of a volatile economic environment with a lot of stress on the currency with uncertainty where the economy is heading. This is turning the election campaign into a less certain outcome,” said Sinan Ulgen, head of the Istanbul-based Edam think tank.

Opponents accuse the president of calling elections 18 months early in a bid to take advantage of the country’s strong growth. But many opinion polls now indicate Erdogan’s lead narrowing and being forced into an electoral runoff. Analysts warn the economy that was once the president’s most significant asset could ultimately be what ousts him from power.

Test of Ebola Vaccine Raises Hopes, Doubts in Congo

Irene Mboyo Mola spent 11 days caring for her husband as he died of Ebola in a hospital where she said nurses were too scared to get close. She helped him to the bathroom, picked up his feverish body when he lost his balance, and reinserted an IV that fell out of his bleeding arm.

“He told me all he could see was death,” recalls Mola, a 30-year-old mother of six, as she sat slumped on the floor in her small hut.

That close contact put Mola at high risk of getting a disease that has no cure and kills about half of those infected. But now, as Congo battles the most serious Ebola outbreak since the devastating 2014 epidemic in West Africa, health workers have something new to offer: a vaccine.

​Promising vaccine

With thousands of doses dispatched to front-line health workers, the world is watching to see if a promising but still experimental vaccine might help stop this terrifying disease faster than traditional measures doctors have tried since Ebola was identified 40 years ago.

Even if the vaccine helps, there are serious hurdles. The shots must be transported deep into forests with few paved roads without it spoiling in the heat. Health workers have to identify and track down anyone who’s had contact with a sick person. Hardest of all, they must persuade a scared and wary population that shots pushed by foreigners could save their lives.

“Communities themselves must be at the center of the response if the activities are going to be effective,” said Jonathan Polonsky of the World Health Organization, a surveillance coordinator in Mbandaka, a city of more than 1 million in northwestern Congo.

Mola’s six children have all been vaccinated. But she refused, telling government social workers and WHO workers that she didn’t believe her husband died from Ebola. She said the hospital never showed her records confirming he’d tested positive for the virus.

​Fear and opportunity

There’s no guarantee the long-sought vaccine will help stop the outbreak. But Congo’s health ministry and the WHO rushed in 7,500 doses, created by the Public Health Agency of Canada and owned by Merck.

It was deemed the best option because the vaccine was found highly promising in testing a few years ago, when the epidemic in West Africa, which killed more than 11,000 people between 2014 and 2016, was starting to wane.

The plan is called “ring vaccination,” to find and vaccinate everyone who’s had direct contact with a sick person — the first “ring” — and then the contacts of those people, too, to break the chain of infection.

Last month, 11-year-old German Umba and her 6-year-old brother lost their father to Ebola. Both were vaccinated. But a shot alone doesn’t end the worry. U.N. workers monitor the children several times a day for fevers, an early symptom, until the incubation period passes.

Standing in the yard outside her classroom at school the young girl suddenly bursts into tears. Surrounded by aid workers, classmates and teachers who are unable to touch and console her, she buries her face in her shirt. 

“I just miss my father,” she said.

​Crucial window

Success with the vaccination strategy hinges on the speed at which health workers can identify people at risk.

“If you detect cases late, you’re missing the opportunity to protect people,” said Dr. Iza Ciglenecki, who is working on the vaccination campaign with Doctors Without Borders.

Congo’s current outbreak has killed 14 people so far, according to the country’s Ministry of Health. There have been 38 confirmed infections.

Friday, WHO emergency response chief Peter Salama said many people vaccinated in Mbandaka received the shots more than 10 days ago, meaning they’re now protected — the vaccine has had time to kick in.

Finding people who need vaccination is much harder in the remote area of Iboko, where a new case was just reported. Shoddy infrastructure adds to the challenge.

“The roads are so bad that even if a person gets vaccinated it can be too late and they can still die,” said Rosy Boyekwa Yamba, a regional representative for the Ministry of Health in Mbandaka.

It can take days to travel just 100 miles (160 kilometers) to reach remote areas where Ebola still is spreading. The vaccine must be kept at a temperature of minus 76 to minus 112 degrees Fahrenheit (minus 60 to minus 80 degrees Celsius), and can only be kept in mobile freezers for up to seven days.

Yamba also worries that potentially infected people aren’t being found. Five such people came forward last week in Mbandaka after he pleaded with community members to “be honest with him” about whether they’d been in contact with someone who had the disease.

So far more than 2,000 people, including front-line health workers, have been vaccinated in Mbandaka and the rural villages of Bikoro and Iboko where confirmed cases have been found, says the Congo’s Ministry of Health.

​Distrust in the community

Mola’s refusal to believe that Ebola killed her husband is a common reaction in the region. While many in Mbandaka have taken to washing hands and avoiding physical contact amid the outbreak, many also remain skeptical. They often don’t trust a government they say is corrupt. Of the dozens of people The Associated Press spoke to on a recent visit, nearly all said they don’t believe Ebola exists and referred to it as witchcraft.

This is Congo’s ninth outbreak, but illnesses are usually in remote areas, not cities.

“Ebola is not here,” said local resident Aziza Monzu. “It’s a disease created by organizations to get money.”

Dr. Pierre Rollin, an Ebola expert with the U.S. Centers for Disease Control and Prevention, understands. 

“People die every day and everywhere but nobody’s interested. Suddenly because of Ebola people are interested and that makes you suspicious,” he said. “Why would they trust us?”

Mola seems to have escaped infection. The incubation period for Ebola is up to 21 days and her husband died three weeks ago. 

“I’m still here,” she said.

Still, WHO officials say three-quarters of those who have been approached have agreed to a shot since the campaign started two weeks ago. 

Once you’ve got people on board “you’ve tackled 90 percent of the problem,” said Dr. Alhassane Touré, the WHO coordinator for ring vaccination in Congo and Guinea.

Does the vaccine work?

Health experts say the next two weeks will be critical in determining whether the outbreak will be brought under control. The WHO is now shifting efforts to more remote areas to contain the outbreak. The organization has predicted there could be up to 300 cases of Ebola in the coming months.

“We could see is another introduction of someone that comes from Itipo (a village in Iboko) or somewhere else to see family (in Mbandaka),” said CDC’s Rollin. In the last few days there’s been a big push in Itipo, the epicenter of the outbreak with 24 confirmed cases, to retrace people and vaccinate contacts as well as health workers, he said.

No matter how the outbreak unfolds, Rollin says it will be nearly impossible to say whether the vaccine worked to stop the disease’s spread.

“We can say the vaccine plus all the other measures work, but you can’t say the vaccine by itself works,” he said. In order to do that a controlled test would have to be run where in one place only the vaccine is being used and in another it’s not being used at all.

Next year, Merck plans to seek approval of the vaccine from the U.S. Food and Drug Administration, based on previous studies of the shots. While the vaccine isn’t being formally studied in the current Congo outbreak, regulatory authorities would want to know if unforeseen side effects crop up.

“If it’s fully approved, then in each outbreak it’ll be the first measure and could be used all over the region,” Dr. Jean-Jacques Muyembe, director general of the National Institute for Biomedical Research in Kinshasa told the AP.

In West Africa, a large study is underway that compares the Merck shot and a second vaccine candidate made by Janssen Pharmaceuticals to determine the best vaccination strategies and track how long protection lasts.

In the meantime, some recipients say the shot provided peace of mind.

Seated in a yard in the center of town, Mbandaka resident Marie Louise proudly slaps her vaccination papers on the table. She had cradled her grandson in her arms as he vomited blood on the hospital floor, and he later died. His case wasn’t officially confirmed as Ebola, but she knew she needed to get vaccinated. Tapping her arm where she was given the needle, the 68-year-old beams. 

“Give me the vaccine,” she said. “I get life with the vaccine.”

Climate Change May Boost Cost of Eating Your Greens

Keeping healthy could become more costly as climate change and water scarcity cause a huge drop in the global production of vegetables and legumes, scientists said Monday.

The amount of vegetables produced could fall by more than a third, especially in hot regions like southern Europe and swaths of Africa and South Asia, said researchers from the London School of Hygiene and Tropical Medicine.

By analyzing studies across 40 countries, with some dating as far back as 1975, they found that hikes in greenhouses gases, water scarcity and global temperatures lowered the amount of vegetables and legumes produced.

Such drastic changes could drive up the prices of vegetables, which would affect poorer communities the most, according to the study, which was published in the Proceedings of the National Academy of Sciences.

“If we take a ‘business as usual’ approach, environmental changes will substantially reduce the global availability of these important foods,” said Alan Dangour, a co-author of the paper, in a statement.

Scientists have warned that world temperatures are likely to rise by 2 degrees to 4.9 degrees Celsius this century compared with pre-industrial times.

This could lead to dangerous weather patterns — including more frequent and powerful droughts, floods and storms — increasing the pressure on agriculture.

Food production itself is a major contributor to climate change.

Agriculture, forestry and changes in land use together produce nearly a quarter of global greenhouse gas emissions, making them the second-largest emitter after the energy sector, said the United Nations Food and Agriculture Organization.

The volume of food transported around the world also is exacerbating global warming.

The global demand for food is expected to soar as the world’s population is projected to grow to 9.8 billion people by 2050, up from 7.6 billion today, according to the U.N.

Crops now take up 11 percent of the world’s land surface, and livestock grazing covers 26 percent of ice-free land, according to the Organization for Economic Cooperation and Development (OECD).

Farming accounts for about 70 percent of all water used globally, said the OECD.

Water scarcity already affects more than 40 percent of the world’s population, according to the U.N.

That number is expected to rise due to global warming, with one in four people projected to face chronic or recurring shortages by 2050, the U.N. said.

“Urgent action needs to be taken, including working to support the agriculture sector to increase its resilience to environmental changes,” said Dangour. “And this must be a priority for governments across the world.”

Proof-of-Concept Hyperloop to Open Soon

The Boring Company, based in California, is close to opening its first exciting venture – a 3.2 kilometer underground tunnel designed to convince Californians that traveling underground at high speed may solve their state’s ubiquitous traffic jams. It is the brainchild of Elon Musk, the U.S. billionaire who founded the electric car company Tesla and the rocket company SpaceX. VOA’s George Putic has more.

New US Neutrality Rules Repealed; Supporters, Critics of Move Wonder What’s Next

The Federal Communications Commission’s repeal of the United States’ net neutrality rules — which mandated internet service providers to not discriminate in their handling of internet traffic — took effect Monday, reigniting fears from internet freedom advocates of potential manipulation of consumers’ internet access.

The FCC voted in December to overturn its net neutrality rule, first put in place by the Obama administration in 2015. With its repeal, the door is now open for internet service providers to block content, slow data transmission, and create “fast lanes” for consumers who pay premiums.

FCC Chairman Ajit Pai, a staunch critic of net neutrality, wrote Sunday that while he “support[s] a free an open internet,” the overturning of the Obama-era rule will allow the FTC [Federal Trade Commission] to “once again be able to protect Americans consistently across the internet economy.”

In 2004, then-FCC Chairman Michael Powell announced the commission’s support of what he called the “four internet freedoms,” including the freedom of consumers to access content. Since 2005, the FCC had enforced net neutrality rules in some regard, with the support of both Republican and Democratic chairmen. In 2015, the regulations were codified into law. 

“We’re actually in a brave new world where no protections for a free internet currently exist, whereas they have for the majority of the history of the internet,” Tim Karr, senior director of strategy and communications of media watchdog Free Press, told VOA on Monday. 

Karr said based on the prior actions of internet service providers, he feared we could see restrictions placed on such free internet access.

In 2007, the Associated Press reported that telecommunications giant Comcast was stifling connection to file-sharing websites such as BitTorrent. In 2011, fellow communication company Verizon blocked the download of Google Wallet, a payment app, on its mobile devices.

Verizon spokesman Rich Young told VOA that the company “strongly supports open internet rules,” and the recent FCC decision does not change the company’s support of full internet access.

Since the December FCC decision, two states — Washington and Oregon — have passed their own net neutrality laws, whereas governors of five other states — Hawaii, New Jersey, New York, Montana and Vermont — have issued executive orders mandating that internet service providers for government agencies abide by net neutrality regulations.

In May, the U.S. Senate voted 52-47 to reinstate the FCC’s 2015 net neutrality rules. Every Democratic senator voted for the proposal, as did three Republicans: John Kennedy of Louisiana, Susan Collins of Maine and Lisa Murkowski of Alaska.

The bill is now in the House of Representatives, where outgoing Speaker Paul Ryan, a Wisconsin Republican, has not yet announced any plans to bring the bill to the floor for a vote.

Congressman Mike Doyle, a Pennsylvania Democrat, filed a petition in May to force a vote on the matter. Doyle spokesperson Matt Dinkel said of the 218 signees for the petition needed to force a vote, the petition currently has 170.

“If enough representatives sign the discharge petition to bring the bill to the floor, odds are that it will pass,” Dinkel told VOA.

Vaccines Make Major Dent in Child Deaths from Pneumonia, Meningitis

A vaccine against bacterial pneumonia and another against meningitis have saved 1.45 million children’s lives this century, according to a new study.

The diseases the vaccines prevent are now concentrated in a handful of countries where the medications are not yet widely available or were only recently introduced, the research says.

Pneumonia is the leading cause of death among children worldwide. The bacteria targeted by the shots, Haemophilus influenzae type b (known as Hib) and Streptococcus pneumoniae (pneumococcus), are major causes of pneumonia and also cause meningitis. Together, the two bacteria claimed nearly 1.1 million lives in 2000, before the vaccines were widely available, according to the World Health Organization.

Vaccines against the bacteria are not new, but funding to provide them in low-income countries only became available recently.

To estimate their impact, the researchers started with country-by-country data from the WHO on pneumonia and meningitis cases and deaths, as well as vaccine coverage estimates. They factored in data from dozens of clinical studies on infections caused by the two bacteria to create estimates of illness and death from the diseases in 2000 and 2015.

They found deaths from Hib fell by 90 percent in 2015, saving an estimated 1.2 million lives since 2000. Pneumococcus deaths fell by just over half, accounting for approximately 250,000 lives saved.

The research appears in the journal The Lancet Global Health. 

“What was interesting was to see the rate at which some of these deaths have been prevented in the last several years,” said lead author Brian Wahl at Johns Hopkins University, “largely due to the availability of funding for these vaccines in countries with some of the highest burdens [of disease].”

The study estimates that 95 percent of the reduction in pneumococcal deaths occurred after 2010, when 52 low- and middle-income countries began receiving funding from Gavi, The Vaccine Alliance, to introduce the vaccine into their national immunization programs.

“The good news is that the numbers are moving in the right direction,” wrote Cynthia Whitney at the U.S. Centers for Disease Control and Prevention in an accompanying editorial.

However, Whitney added, “far too many deaths — about 900 every day — are still being caused by these two infections.”

She notes that more than 40 percent of the world’s children live in countries where pneumococcal vaccine is not a routine childhood immunization.

Many of the countries with the largest number of deaths from these two bacteria have recently introduced the vaccines, but coverage is uneven.

India, Nigeria, China and South Sudan had the highest rates of death from Hib, the study says. All but China have introduced the vaccine in the past few years.

Half of the world’s pneumococcal deaths occurred in just four countries: India, Nigeria, the Democratic Republic of the Congo and Pakistan. All have recently introduced the vaccine, though in India it is a routine immunization in only three states.

Lowering the global burden of these diseases will depend on improving coverage in these countries, the study says.

Paraguay Declared Malaria-Free Amid Concerns Disease Rising Again

Paraguay is officially free of malaria, the World Health Organization (WHO) said on Monday, making it the first country in the Americas in 45 years to have wiped out the deadly disease which is back on the rise globally.

Nearly half a million people — most of them babies and children in Africa —  died in 2016 from mosquito-borne malaria, while at least 216 million were infected, an increase of five percent over 2015, WHO said.

With no recorded cases of malaria in five years, Paraguay became the first country in the region to have eliminated malaria since Cuba in 1973, the WHO said. It was the first country to be declared malaria free since Sri Lanka in 2016.

“It gives me great pleasure today to certify that Paraguay is officially free of malaria,” Tedros Adhanom Ghebreyesus, head of WHO, said in a statement.

“Success stories like Paraguay’s show what is possible. If malaria can be eliminated in one country, it can be eliminated in all countries.”

While significant progress has been made over the past 20 years in reducing malaria cases and deaths, in 2016, for the first time in a decade, the number of malaria cases rose and in some areas there was a resurgence, the WHO said.

Health experts say this was partly to blame on a growing resistance to the sprays and drugs used to attack the mosquito that transmits the disease and the parasite that causes it.

They also say it is partly due to stagnant global funding for malaria since 2010. Climate change and conflict can also exacerbate malaria outbreaks.

“This is a powerful reminder for the region of what can be achieved when countries are focused on an important goal,” said Carissa Etienne, director of the Pan American Health Organization (PAHO), the WHO’s regional office.

“We are hopeful that other countries will soon join Paraguay in eliminating malaria,” she said in a statement.

In 2016 the WHO identified Paraguay as one of 21 countries with the potential to eliminate malaria by 2020.

The WHO said Algeria, Argentina and Uzbekistan are on track to be declared free from malaria later this year.

Trump Says Friends, Enemies Can’t Take Advantage of US on Trade

President Donald Trump tweeted out more criticism of U.S. trade partners Monday, including allies in Europe and Canada, adding to his declarations that the United States will no longer tolerate what he has called “trade abuse.”

That was part of a string of messages in which the president asserted the United States “pays close to the entire cost of NATO” while other member countries take advantage of the U.S. on trade.

“We protect Europe [which is good] at great financial loss, and then get unfairly clobbered on Trade,” he said.”Change is coming!”

NATO members, in general, make direct financial contributions based on their economic output, and as a result of being the world’s biggest economy the United States does contribute a larger amount than other nations.Indirectly, NATO members contribute to the alliance through the size of their military budgets, and the United States also spends more on defense than any other nation.

Trump tweeted from Singapore where he traveled for a summit with North Korean leader Kim Jong Un after attending a meeting of G-7 leaders in Canada.

After Trump left, Canadian Prime Minister Justin Trudeau called Trump’s decision to invoke national security grounds to impose new tariffs on aluminum and steel “insulting” because of the long history of Canadian troops supporting the United States in conflicts.

Trudeau also pledged to respond with equivalent tariffs on U.S. goods beginning July 1.

The European Union rebuked Trump Monday and defended Trudeau, saying it “stands fully behind” the joint statement on economic goals and other issues leaders from six other countries signed even as Trump ordered U.S. officials to not sign it.

“The European Union will continue to stand up for an international, rules-based, multilateral system,” an EU spokeswoman said, while also praising Trudeau’s “excellent preparation and chairing of this challenging summit.”

British Prime Minister Theresa May told parliament the Canadian meeting was “a difficult summit with, at times, some very candid discussions.”

But she rejected Trump’s go-it-alone plan for tariffs against allies to protect American workers.

“It cannot be done by taking unilateral action against your partners,” she said. “So at this summit, we expressed deep disappointment at the unjustified decision of the United States.”

While airborne after leaving the summit early, Trump ordered U.S. officials to refuse to sign the traditional end-of-summit communique and tweeted criticism of what he said were Trudeau’s “false statements at his news conference.”

Two key Trump aides, economic adviser Larry Kudlow and trade adviser Peter Navarro, assailed Trudeau on Sunday news talk shows.

Navarro said, “There’s a special place in hell for any foreign leader that engages in bad faith diplomacy with President Donald J. Trump and then tries to stab him in the back on the way out the door … that’s what bad faith Justin Trudeau did with that stunt press conference.”

Trump followed Monday with another tweet.

U.S. Secretary of State Mike Pompeo downplayed any rift in G-7 relations during a news conference Monday in Singapore.

“There are always irritants in relationships.I am very confident that relationships between our countries, the United States and those G-7 countries, will continue to move forward on a strong basis,” he said.

Trudeau did not respond to Trump’s attacks, instead declaring the summit a success.

“The historic and important agreement we all reached” at the summit “will help make our economies stronger and people more prosperous, protect our democracies, safeguard our environment, and protect women and girls’ rights around the world. That’s what matters,” Trudeau said.

The G-7 summit communique called for working together to stimulate economic growth “that benefits everyone,” and highlighted a commitment to a “rules-based international trading system” and “fight protectionism.”The document also supports strong health systems, advancing gender equality, ending sexual and gender-based violence, as well as efforts to create a more peaceful world and combat climate change.

German Chancellor Angela Merkel told ARD television that Trump’s withdrawal from the communique through a tweet is “sobering and a bit depressing.”

French President Emmanuel Macron attacked Trump’s stance, saying, “International cooperation cannot be dictated by fits of anger and throwaway remarks.”He called Trump’s refusal to sign the communique a display of “incoherence and inconsistency.”

Swiss Voters Reject Campaign to Radically Alter Banking System

A radical plan to transform Switzerland’s financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday.

More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the Swiss government.

All of the country’s self-governing cantons also voted against in the poll, which needed a majority from Switzerland’s 26 cantons as well as a simple majority of voters to succeed. Concerns about the potential risks to the Swiss economy by introducing a “vollgeld” or “real money” system appear to have convinced voters to reject the proposals.

The Swiss government, which had opposed the plan because of the uncertainties it would unleash, said it was pleased with the result.

“Implementing such a scheme, which would have raised so many questions, would have been hardly possible without years of trouble,” Finance Minister Ueli Maurer said.

“Swiss people in general don’t like taking risks, and …the people have seen no benefit from these proposals. You can also see that our banking system functions…The suspicions against the banks have been largely eliminated.”

The vote, called under Switzerland’s system of direct democracy after gathering more than 100,000 signatures, wanted to make the Swiss National Bank (SNB) the only body authorized to create money in the country.

Contrary to common belief, most money in the world is not produced by central banks but is instead created electronically by commercial lenders when they lend beyond the deposits they hold for savers.

This arrangement, underpinned by the belief that most debts will be repaid, has been a cornerstone of the global capitalist system but opponents say it is unstable because the new money created could exceed the rate of economic growth, which could lead to inflationary asset bubbles.

If approved, Switzerland, famed for its banking industry, would have been the first country in the world to introduce such a scheme, leading opponents to brand the plan a dangerous experiment which would damage the economy.

The plan could have had repercussions beyond Switzerland’s borders by removing a practice which underpins most of the world’s bank lending.

Support for reform had grown in the wake of the 2008 economic crisis, with campaigners saying their ideas would make the financial system more secure and protect people’s savings from bank runs.

As well as the Swiss government, opposition came from the Swiss National Bank and business groups.

“We are pleased, this would have been an extremely damaging initiative,” said Heinz Karrer, president of business lobby Economiesuisse.

The SNB acknowledged the result, saying adoption of the initiative would have made it much harder to control inflation in Switzerland.

“With conditions now remaining unchanged, the SNB will be able to maintain its monetary policy focus on ensuring price stability, which makes an important contribution to our country’s prosperity,” it said in a statement.

Campaigners – a group of academics, former bankers and scientists – said they would continue to work on raising their concerns.

“The discussion is only just getting started,” said campaign spokesman Raffael Wuethrich. “Our goal is that money should be in the service of the people and not the other way around and we will continue to work on it.” 

Hurricane Bud Intensifying Off Mexico’s Pacific Coast

Tropical Storm Bud intensified late Sunday afternoon into a Category 1 hurricane some 254 miles (410 km) west of the Pacific coast of Mexico, the country’s weather service said.

With maximum sustained winds of 75 miles (121 km) per hour and gusts of 93 miles (150 km) per hour, Bud was moving northwest at 9.3 miles (15 km) per hour.

The storm is the second of the 2018 Pacific hurricane season after Tropical Storm Aletta, which is moving west away from land. On the Atlantic side, Subtropical Storm Alberto slammed into the Mexican Caribbean in late May, forcing the evacuation of oil workers in the Gulf of Mexico and killing almost 10 people in Cuba and in the U.S. Southeast.

Within hours, Bud was due to generate intense storms in the Mexican states that border the Pacific Ocean, such as Jalisco, Colima and Guerrero.

The Miami-based U.S. National Hurricane Center said Bud would start to weaken by late Tuesday or early Wednesday.

There are no oil installations on the Pacific side of Mexico.

Although authorities established a surveillance zone to follow the trajectory of the hurricane northward along Mexico’s western coast, there were no evacuations of tourist spots like Acapulco, Puerto Vallarta and Cabo San Lucas.

“People in the zones of the states with forecast of rains, wind and waves, including maritime navigation, are recommended to take extreme precautions and to comply with the recommendations issued by the authorities,” Mexico’s meteorological service said in a statement.

Impossible Makes Plant-based, Meat Free Burger Possible

After years of research and 400 million dollars from investors, Impossible Foods has produced the hottest new item on the vegan market, meat-free burgers. The goal of the California-based start-up is to make an all-natural organic product that could deliver the pleasure people get from eating meat, but with no cholesterol, antibiotics, hormones, harmful bacteria… or meat. Faiza Elmasry has the story. Faith Lapidus narrates.

Study Discourages Chemotherapy for Some Breast Cancer Patients

The University of Hawaii Cancer Center is the leader in a groundbreaking national study that found that early-stage breast cancer patients with the most common form of the disease do not benefit from chemotherapy.

The center helped develop the largest breast cancer study, enrolling 172 Hawaii patients onto the TailorX clinical trial, which found that hormone therapy alone produced results as good as both chemotherapy and hormone treatment for 70 percent of women post-surgery, the Honolulu Star-Advertiser reported.

“We’re able now to spare a large group of women side effects of chemotherapy,” said Dr. Randall Holcombe, director of the University of Hawaii Cancer Center. “We now know with this study that women in this intermediate group will have the same chance of a cure by treating with a hormone pill alone. There are some side effects to hormone pills but a lot less than chemotherapy.”

It could significantly change the standard of care, he added.

The five-year survival rate was 98 percent for women who received hormone pills alone and 98.1 percent for those who received both therapies. At nine years, the rates were 93.9 percent and 93.8 percent, respectively.

The findings were based on 10,273 women who participated in the study from 2006 to 2010.

ECOG-ACRIN Cancer Research Group based in Philadelphia conducted the clinical trial, supported by the National Cancer Institute, a number of foundations and sales of the breast cancer research postage stamp, which provided more than $5 million.

New Italian Economy Minister Vows to Stay in Euro, Cut Debt Level

Italy’s new coalition government has no intention of leaving the euro and plans to focus on cutting debt levels, Economy Minister Giovanni Tria said on Sunday, looking to reassure nervous financial markets.

Italian government bonds have come under concerted selling pressure on fears the government will embark on a spending splurge that Italy can ill-afford and markets are wary that euro-skeptics within the coalition might try to push Italy out of the eurozone.

In his first interview since taking office a week ago, Tria told Corriere della Sera newspaper that the coalition wanted to boost growth through investment and structural reforms.

“Our goal is [to lift] growth and employment. But we do not plan on reviving growth through deficit spending,” Tria said, adding that he would present new economic forecasts and government goals in September.

“These will be fully coherent with the objective of continuing on the path of lowering the debt/GDP ratio,” he said.

The government, comprising the anti-establishment 5-Star Movement and far-right League, initially named as economy minister a man who had called the euro an “historic error”.

He was eventually handed a less important portfolio after the head of state refused to accept his nomination.

Tria, a little-known economics professor who is not affiliated to any party, said the coalition was committed to remaining within the single currency.

“The position of the government is clear and unanimous. There is no question of leaving the euro,” he said.

“The government is determined to prevent in any way the market conditions that would lead to an exit materializing. It’s not just that we do not want to leave, we will act in such a way that the conditions do not get anywhere near to a position where they might challenge our presence in the euro.”

Tria said he had spoken to his German counterpart and was looking for “fruitful dialogue” with the Europe Union, adding that Italian interests chimed with those of Europe.

“Basic choices”

The new government has promised to roll back pension reform, cut taxes and boost welfare spending, measures that are expected to cost tens of billions of euros. It also needs to find an estimated 12.5 billion euros ($14.8 billion) to stave off the threat of an automatic increase in sales taxes because of previously missed deficit targets.

Tria declined to say whether the coalition would hike the deficit target, but said he aimed to meet existing 2018 and 2019 debt reduction goals.

The previous center-left government had forecast a fall in debt to 130.8 percent of gross domestic product (GDP) this year and 128 percent next year against 131.8 percent in 2017.

Tria urged investors to look not just at the hard figures, but also study the content of the forthcoming 2019 budget.

“As part of the debt reduction and deficit reduction goals, the budget will reflect the basic choices on how and when to implement the [government] program,” he said.

“We have a program that focuses on structural reforms and we want it to also act on the supply side, creating more favorable conditions for investment and employment.”

The government has also promised to review a recent shake-up of mutual and co-operative banks, saying the changes risked penalizing domestic lenders. However Tria said the issue “is not the first problem we have to tackle”.

He also distanced himself from calls within the coalition for the government to issue securities to pay off individuals and companies owed money by the state.

“Stop-gap solutions solve nothing,” he said.

Half the World’s 152 Million Child Laborers Do Hazardous Work

The International Labor Organization reports 152 million children are victims of child labor, with nearly half forced to work in hazardous, unhealthy conditions that can result in death and injury.

Twenty years ago, hundreds of people, including children, participated in the Global March against Child Labor. They came to the International Labor Conference in Geneva demanding a Convention on the Elimination of the Worst Forms of Child Labor.

Basu Rai from Nepal was the youngest of the marchers. Now, a grown man he recalls clambering on table tops chanting slogans.

“Go, Go Global March. Stop, Stop Child Labor. We want education. No more tools in tiny hands. We want books and we want toys,” he said.

Rai was orphaned at age four. Homeless and without anyone to look after him, he became a street gangster, a rag picker, a delivery boy. He did anything to survive. Now, as an adult, he has become a Child Rights Activist.

“But, still I am afraid because I am a father to a two-month old daughter and then because the world is not safe for the children. So, this is our collective responsibility to work together for the sake of the childhood…But, still there are 152 million children who are languishing in a kind of slavery,” said Rai.

Kailash Satyarthi, an Indian children’s rights activist and Nobel peace prize laureate, led the 1998 Global March of enslaved and trafficked children. He said progress has been made since then, but much remains to be done.

“If the children are still trapped into the supply chain, if the children are still enslaved, if the children are still sold and bought like animals and sometimes for less than the price of animals to work in fields and farms, and shops and factories, or for household work as domestic help, this is a blot on humanity,” said Satyarthi.

The ILO reports nearly half of the child laborers are found in Africa and in the Asia and Pacific regions. Sub-Saharan Africa has the largest proportion with one in five children working.

It notes children typically enter the work force at the age of six or seven, getting involved in hazardous work as they get older. About 70 percent of hazardous work is concentrated in agriculture. Other forms include mining, construction, and domestic service.

ILO Director-General, Guy Ryder, said the world is facing an epidemic of occupational accidents and disease.

“Honestly, the annual toll is appalling — 2.78 million work-related deaths, 374 million injuries and illnesses. If these were the victims of a war, we would be talking a lot about it. Children and young workers are at greater risk and suffer disproportionately and with longer lasting consequences,” he said.

Ryder says legislation, labor inspection, and workplace labor relations and practices must be strengthened to stop this carnage.

 

Most child laborers are in the developing world. But, this shameful practice also occurs in some of the world’s richest countries. Zulema Lopez, a Child Rights Activist and Labor Relations student in the United States recalls her life as a child.

“At the age of seven, it was normal for me to wake up at five o’clock in the morning, put on my shoes, put on a T-shirt and go work in the hot sun, burning — my back was aching, 20-30 pounds of buckets of cucumbers next to me, trying to make ends meet,” said Lopez.

Lopez said people do not realize what is happening in their own backyard. She calls the exploitative work that robs children of their childhood unacceptable and said it must stop. She said children are the future and if people fail to protect the world’s children, then there is little hope for the future.

XI Takes Swipe at G-7 Summit In SCO Remarks

The Shanghai Cooperation Organization (SCO)is holding its first summit since India and Pakistan joined the bloc which is widely seem by observers as a means for blocking American influence in Central Asia. 

The founding members of the alliance are China, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan. 

The summit is being held in the eastern Chinese coastal city of Qingdao. 

Chinese President Xi Jingping told the group in opening remarks Sunday, “We should reject selfish, short-sighted, narrow and closed-off policies.We must maintain the rules of the World Trade Organization, support the multilateral trade system and build an open global economy.”

Political analysts see the Chinese leader’s remarks as a thinly veiled reference to the chaos at the recent G-7 summit in Canada where the U.S. and its allies were divided by escalating trade tensions. 

After leaving the G-7 meeting, U.S. President Donald Trump described Canadian Prime Minister Justin Trudeau as “meek and mild” and “dishonest & weak.”

Trump also withdrew his endorsement of the G-7 summit’s communique.

Girls Education Fund Announced at G-7

Canadian Prime Minister Justin Trudeau announced Saturday that nearly $3 billion in pledges has been raised to help fund the education of vulnerable girls and women around the world.

Canada will contribute $300 million to the campaign. Germany, Japan, Britain and the World Bank are among the additional supporters. 

The prime minister made the announcement on the last day of the G-7 summit which was held in Quebec. 

Women’s groups that had met with Trudeau on the sidelines of the summit welcomed the news of the generous pledges that exceeded the groups’ expectations. 

“It gives young women in developing countries the opportunity to pursue careers instead of early marriage and child labor,” said Nobel Prize winner Malala Yousafzai, who was shot in the head in Pakistan because of her campaign for the right of girls to receive an education.

Yousafzai, currently a student at Oxford University, said the pledges give “all of us the chance to create a safer, healthier and wealthier world.” 

According to a government statement, the funds will be used to equip girls and women, including refugees, with the skills needed for the jobs of the future.

David Morley, president of UNICEF Canada, said “UNICEF believes that the right to education is as fundamental as the right to food or shelter, and provides girls with the skills they need to break the cycle of crisis and poverty.” 

Fighting Infections in Post-antibiotic World

Scientists say due to indiscriminate use of antibiotics, for treating even minor infections, many bacteria have developed strong immunity against this type of drug. In their words, we may have already entered the ‘post-antibiotic era,’ with previously non-life-threatening infections becoming fatal. Researchers at Rockefeller University in New York say an enzyme called lysin may prove to be crucial in this new battle against infection. VOA’s George Putic has more.

Divers Fight Damaging ‘Ghost’ Fishing Nets

Some 640,000 tons of lost fishing gear pollute the world’s oceans, according to the United Nations. Slow to break down, these so-called “ghost nets” take a huge toll on sea creatures from tiny sponges to dolphins, turtles and whales. A group of volunteer divers is working to clean up sea floors and draw attention to the damage these ghost nets do. VOA’s Steve Baragona has more.

Rise in US Suicides Highlights Need for New Depression Drugs

A spike in suicide rates in the United States has cast fresh light on the need for more effective treatments for major depression, with researchers

saying it is a tricky development area that has largely been abandoned by big pharmaceutical companies.

U.S. health authorities said this week that there had been a sharp rise in suicide rates across the country since the beginning of the century and called for a comprehensive approach to addressing depression. The report was issued the same week as the high-profile suicides of celebrities Anthony Bourdain and Kate Spade.

Reuters was not able to determine whether either Bourdain or Spade were getting drug treatment. Representatives could not immediately be reached for comment.

Kate Spade’s husband, Andy Spade, said in a statement this week that she had suffered from depression for many years and was working closely with her doctors.

With the availability of numerous cheap generic antidepressants, many of which offer only marginal benefit, developing medicines for depression is a tough sell.

Far more cancer drugs

Drugmakers have 140 therapies in development targeting mental health issues, including 39 aimed at depression, according to the Pharmaceutical Research and Manufacturers of America trade group. That compares with the industry’s work on 1,100 experimental cancer drugs, which can command some of the highest prices.

“Psychiatry has become a disfavored area for investment,” said Harry Tracy, whose newsletter, NeuroPerspective, tracks developments in drug treatments for psychiatric problems. “Insurers say, ‘Why should we pay more for a new treatment?’ ”

Some say anti-depressant drugs take too long to become effective, if they are effective at all. About half of people with depression fail to respond to current therapies, said Dr. Husseini Manji, global head of neuroscience at Johnson & Johnson’s Janssen unit.

Developing antidepressants is risky. Patients in clinical trials often show a big placebo response, masking the efficacy of the drug being tested. In addition, once approved, antidepressants require a large sales force to reach

psychiatrists as well as primary care providers.

Another impediment is the difficulty of conducting early depression research on animals that could form a basis for trials in people.

“This has been a big challenge to translate over to human clinical trials,” said Caroline Ko, project leader of NewCures, a newly formed program at Northwestern University aimed at reducing the risk of investment in treatments for depression, pain, Parkinson’s and other diseases.

Lone major player: Johnson & Johnson

J&J is the only large pharmaceutical company making a major investment in a new antidepressant, Tracy said. Smaller players include Sage Therapeutics, which expects a decision from U.S. regulators on a treatment for post-partum depression by the end of the year.

J&J’s esketamine targets treatment-resistant depression. It is similar to ketamine, which is used as an anesthetic and to relieve pain, and often is abused as a recreational party drug with the street nickname Special K.

The company expects to file for U.S. Food and Drug Administration approval of esketamine, a rapid-acting nasal spray, this year.

“Standard antidepressants can take weeks to work. They really are not useful in a crisis situation,” said Carla Canuso, who is leading J&J’s effort testing the drug in people deemed at imminent risk for suicide, which is most commonly associated with depression.

Allergan Plc is developing rapastinel, a fast-acting intravenous antidepressant the company purchased in 2015. The drug has breakthrough therapy designation from the FDA, with clinical trial results expected in early 2019. Last month, the company acquired another depression drug from its

collaborator, Aptinyx.

Dr. Julie Goldstein Grumet, a behavioral health expert from the Suicide Prevention Resource Center, said 122 people in the United States took their lives by suicide each day last week. Many were never even diagnosed with a mental illness. 

“We’re missing opportunities to screen people for the risk of suicide,” she said.

Salmonella Linked to Pre-cut Melon Sickens 60 in Midwest

Health officials say a salmonella outbreak linked to pre-cut melon has sickened 60 people in five Midwestern states.

The Centers for Disease Control and Prevention said Caito Foods LLC on Friday recalled pre-cut watermelon, honeydew melon, cantaloupe and fruit medleys containing at least one of those melons that were produced at its facility in Indianapolis.

It said the five states where people were sickened were Illinois, Indiana, Michigan, Missouri and Ohio. The CDC said the fruit was also distributed to stores in Georgia, Kentucky and North Carolina. It was sold in clear plastic clamshell containers at Costco, Jay C, Kroger, Payless, Owen’s, Sprouts, Trader Joe’s, Walgreens, Walmart and Whole Foods/Amazon.

Officials said people should throw away or return recalled products. 

The CDC said 31 of the people sickened had been hospitalized, but that there had been no deaths reported. Those sickened often develop diarrhea, fever and abdominal cramps 12 to 72 hours after eating the contaminated food. The illness often lasts four to seven days.