back to normal, steel closure

29 Mar

london 12.07pm sunny blue sky 11.8C tuesday 2016

its nice to get back to normal with the shops and activities open as usual. and we seem to have got rid of the wet storm weather too. it is all bright and sunny and blue sky here. (1.01pm added. spoke too soon, haha. the sky is getting darker and it is raining; so much for the sunny blue sky. haha. added, 2.13pm, sunnyblue sky again. good ol english weather)

i was at the library earlier, reading the backlog of newspapers that have accumulated over the holidays. i skimmed over them as there is nothing more dated than old news.afraid i only looked at the monday , sat, and sunday papers, and even then not all the different titles. 

it also included  the last print edition of the independant too, before they go online only. i suppose someone might consider keeping it as a souvenir, or with an eye to its future collectors’ item.

how things have changed from those days when weekend papers were the highlight of the week. that would be in the 80s, and part of the 90s. i enjoyed reading the sunday times. but it hasn’t been so for a long time . these changes are replaced by news online and the internet, so it’s not all bad.

in the past u get really good analysis of the news in the sunday papers, but perhaps nowadays things are more complex so that no one person can know everything to explain what the implications can be.

for eg, i should think it is very difficult to know for certain how uk will be affected if it leaves the EU. no one knows really. we can speculate and try to extrapolate, but we dont really know for sure. whereas we can be pretty sure what will happen to uk if we stay in. more union.

if u look at it logically it is better for europe to be united as one, like the usa. but humans are not logical. the british dont like it. so far the people in the EU dont seem to mind that they are getting closer union, but maybe they have yet to feel the effects.

in fact, the poorer members can access the generous system in uk so it is great for them and the big monetary contribution from the uk means  it pays them to be in the EU. but now that they are forced to take in their quota of migrants, they might think again. they will be the ones hosting migrants, instead of the other way round. haha.

and for the rich countries like france and germany… being bombed because of the porous borders, as in france, and having their women assaulted in the case of germany might make them change their  minds too.but they are in too deep. they have no choice but to stay in. when u dont have a currency to call your own anymore, it can be a real bummer to leave the system. greece had to face that reality and so it did not/could not get out. all the countries in the EU  burnt their boats really when they adopted the euro.

even in usa there are tensions, with states going their own way, defying the federal govt. i wonder if the usa will take a change and vote in the donald. if it does, than usa will become more protectionist towards china. at present, the usa have been allowing china easy access to its markets and china not… this will change if the donald comes in. the flood of cheap chinese goods have really destroyed the local industry in usa. now there is a currency war going on, with each country trying to bring their currency down in relation to the US$ . ah well, i know things are more complicated than this and we shall have to see how it all pans out when the us elections is over , and our uk referendum is done. 

added. 8.06pm i am seeing a news program on tv about wales having to close its steel works. it is owned by tata steel, an indian company , and they are meeting in mumbai to decide to close it. this is because of cheap steel from china being dumped in europe and uk. it is the kind of problems that usa is going through too. huge swathes of the locals being thrown out of work because of cheap stuff from overseas. its no wonder the donald is so popular, as he has said he will stop that happening. added. 11.14pm, it seems the tata will put their entire uk steel business for sale

added 4.59pm wednesday 30.3.16. it seems the uk govt is the one to blame for stopping the EU from raising the tariff on the steel from china. that post blames the uk govt. but wait a bit, as i continue to read that article it turns out the govt is fighting against the abolishment of the lesser duty rule.

Axing the rule would allow the EU to impose higher tariff charges on steel coming into continent as a way of counteracting the aggressive production of countries such as China.

i think that is the nub, the govt is afraid that if the lesser duty rule is abolished, the EU can raise the duty on british steel going into EU, as well as chinese steel. the british govt is right to fear abolishing that rule. that rule keeps the EU from imposing higher tariffs on everything coming into the EU. and that includes british goods.

i wonder if we were to leave the EU, there is nothing to stop the EU from abolishing the lesser duty rule. and then british goods can have higher tariffs placed on them. and this might lead to a trade war with each country retaliating and imposing high duties on each other’s goods. a trade war is very dangerous for the uk, as it depands so much on being able to freely trade with others. 

there is another rule that allows the EU to impose a higher tariff, if it is proved that the steel is being subsidised by china and so is sold at below cost. and i suppose that is the rule that allowed the EU to raise the tariff by 26%.

the usa has allready and very swiftly imposed 266% duty on the imported steel into usa.

added. 9.33am thursday 2016 7.7C sunny this daily mail article gives the reasons . its a lot of other actions that impact unfavourably on it. the central reason is that low demand for steel worldwide. 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: