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by admin | Nov 25, 2021 | PortugalWorks | 0 comments
Around 80 kms south of Porto is the industrial city of Porto – it is one of the light engineering hubs of Portugal, but above all it is famous for making bicycles. In 2020 Portugal produced 2.6 million bicycles (half a million more than the second largest European manufacturer, Italy) and the Agueda region has been the main engine of growth, fuelled by large investments in new factories and machinery backed by generous EU funding.
As well as mainly aluminium bicycle frames being mass produced in factories like those owned by the Triangles group (which opened a 20,000 m2 factory in 2015 (see picture below), using mainly new generation robotic welding), there are some older manufacturers that have evolved over the years to become internationally competitive, like Rodi which made half a million bike wheels and 3 million rims in 2020 and Miranda which makes specialist bike gears.
Whilst investments in manufacturing capacity have enable the growth of the bicycle sector, the fact that import duties on Chinese bikes of 48.5% (and up to 79.3% for electric bikes) has helped to shield the Portuguese suppliers from low-cost competition. Having said that, most of the investment in Portugal has been in the mid to premium sector and indeed European consumers have generally been trading up to more expensive models in recent years, which has meant that many of the Portuguese manufacturers have been well placed to surf the wave of growing popularity in cycling in many European countries.
The Portuguese bicycle manufacturing industry growth has been rooted in supplying parts for foreign brands as there are no major Portuguese-owned bicycle brands, which has long been a weakness in Portugal's manufacturing sector as a whole; there is plenty of skill, know-how and investment in manufacturing capacity, but a dearth of the softer skills and ambition necessary to build a global consumer brand. There does not appear to be a major Portuguese cycling brand waiting to emerge on the world stage and this is true across the different manufacturing sectors. Portugal can offer international brands a low-cost European base for manufacturing in a variety of sectors, but until Portuguese entrepreneurs are prepared to leverage this manufacturing capacity with their own branding the margins will remain low.
Through our consultancy firm, Infeira, we have done a lot of work with some of the light engineering companies associated with the bicycle sector with strategic consulting and access to funding to allow them to grow. It would be fantastic to see some of these companies take the next step and grow their own brands! If your company is looking to manufacture in Portugal, then please contact us here at PortugalWorks where we can help you to assess the viability of manufacturing or sourcing from Portugal and then provide the assistance you will need to start production, including finding premises, accessing EU funding, contracting staff, establishing strategic partnerships and so on.


Have you been waiting for an opportunity to get involved with a Local Food Network? Do you grow food or create other essential products for sale in the Central and North Frontenac Townships area?
Please join us to explore this new project on Tuesday January 8 at 3:00 pm at the North Frontenac Telephone Office (in the lower level). Over the last few months there has been an initiative called "Engaging People in Building Inclusive Communities". At the last meeting of this group it was decided that the project we would consider undertaking is one that will connect our area in terms of finding out who the food producers are and where we can purchase a variety of local goods. The idea of creating a local directory of this kind would be very helpful to all the residents and visitors to our area. As you may know there is already a well organized initiative similar to this in the areas south and east of us. We need your help in accomplishing this.
As it turns out people all around the world are turning to local producers to gain control of their food supply, improve the quality of their food. Global Warming is upon us. The likelihood of getting the giants of industry to make significant changes to their mode of operation is slim to not at all. We are told that carbon monoxide emissions are fueling Global Warming. How are we to help in that respect? How are we to help in reducing emissions? Some have suggested that shopping locally would be part of the answer, along with all the fringe benefits this practice would promote (like good fresh food minus all the nastier aspects of food grown through typical agribusiness). The problem is not knowing who the producers are and where we can go to access their goods.
We are proposing to discover who these producers are and where we can go to access their goods. Ultimately local farmers' markets would prosper and eventually be found in more communities to further reduce on distances travelled. At this point there is the suggestion that the directory could include quite a range of products. Now is the time. Join us to share ideas about this exciting project and the possibilities that it presents us.


It seems appropriate to start the celebration with celebration soup. I made this soup up as a teenager, inspired by the traditional Paprika Stew and the kinds of soups my grandmother and mother would prepare, and over the years it grew into a family favorite. Now we make it whenever we have something to celebrate, hence the name. Red and black pepper are auspicious seasonings and are very popular in Romani cuisine, and this soup is basically a festival of pepper, paprika, and other beneficial spices, like turmeric and cinnamon, which are especially valued in Ayurvedic medicine. The combination of fresh herbs, earthy spices, sweet veggies, and spicy pepper is absolutely gorgeous. Adjust the heat for your palate — this version is fairly mild.
Heat the olive oil on medium heat and add the finely chopped onion and garlic. Sautée until clear (about five minutes).
Add the chopped celery, carrots, and the dried spices. Cover, stirring occasionally, for an additional 10 minutes. Add a few tablespoons of stock if the veggies seem like they might burn.
Add the tomatoes, chickpeas, and stock, and bring to boil. Immediately turn the heat down to medium again and allow the soup to simmer for 15 minutes, partially covered.
Then, add the peas and the fresh basil and parsley and simmer for another five minutes.


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Frank "Butch" Larson (May 30, 1912 – September 1, 1983) was an American gridiron football player and coach.  He was a consensus first-team All-American at the end position at the University of Minnesota in 1934.  He later served as the head coach of the Winnipeg Blue Bombers from 1949 to 1950.

A native of Duluth, Minnesota, Larson graduated from Denfeld High School. He then enrolled at the University of Minnesota where he played on undefeated Minnesota Golden Gophers football teams in 1933 and 1934.  The 1934 team was recognized as the national champion, and Larson was a consensus selection at the end position on the 1934 College Football All-America Team.

Larson received bachelor and master of arts degrees from Minnesota.  From 1936 to 1941, he was a coach at Duluth Central High School.  During World War II, he served in the Army Air Force and received nine battle stars.  After the war, he coached the football team at Duluth Junior College.  From 1949 to 1950, he was the head coach of the Winnipeg Blue Bombers of the Canadian Football League (CFL). He led the 1950 Blue Bombers to a 14–2 record.  From 1952 to 1973, he coached the football team at International Falls High School.

He has been inducted into the University of Minnesota Athletic Hall of Fame (2006), the Minnesota High School Coaches Hall of Fame (1977), and the Duluth Sports Hall of Fame (1982).  Larson died of cancer in 1983 at the age of 71 in International Falls, Minnesota.

References

1912 births
1983 deaths
American football ends
Minnesota Golden Gophers football players
Winnipeg Blue Bombers coaches
High school football coaches in Minnesota
Junior college football coaches in the United States
All-American college football players
United States Army Air Forces personnel of World War II
Sportspeople from Duluth, Minnesota
Players of American football from Duluth, Minnesota

redpajama_set_name: RedPajamaWikipedia


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Die Cruise Europa ist ein Fährschiff der griechischen Reederei Minoan Lines. Sie gehört zur vierten Generation von Schiffen seit der Gründung des Unternehmens und war zum Zeitpunkt der Indienststellung die größte Fähre im Mittelmeer. Die Cruise Europa ist das Typschiff ihrer Bauklasse. Der Heimathafen ist im Gegensatz zum Rest der Flotte nicht Heraklion, sondern Palermo.

Die neue Schiffsklasse von Minoan Lines ist eine Weiterentwicklung der Cruise-Roma-Klasse der italienischen Grimaldi Lines, die seit Anfang 2009 Mehrheitseigentümer von Minoan Lines ist. Das Schwesterschiff der Cruise Europa ist die Cruise Olympia, welche später in Cruise Sardegna umbenannt wurde und derzeit zusammen mit ihrem Schwesterschiff die Fährverbindung Livorno - Olbia bedient.

Einsatz
Die Cruise Europa wird seit dem 16. September 2009 auf der Route Ancona–Igoumenitsa–Patras eingesetzt. Am 12. Oktober 2009 lief das Schiff erstmals Patras an. Bereits während der ersten Fahrt von Patras nach Ancona kollidierte das Schiff in Igoumenitsa mit der Hafenmauer und konnte erst nach 12 Stunden weiterfahren.

Bei der Havarie der Norman Atlantic am 28. Dezember 2014 traf die Cruise Europa zusammen mit dem Containerschiff Spirit of Piraeus als erstes am Unglücksort ein. Eigene Versuche mit Rettungsbooten der Cruise Europa zu helfen, waren bei Windstärken von über 9 Beaufort und mit einem Wellengang von mehr als 5–6 Metern nicht möglich. Jedoch war die Cruise Europa neben weiteren Schiffen über 30 Stunden lang an der Evakuierung beteiligt. Insgesamt wurden über 60 Personen, welche per Helikopter von der brennenden Norman Atlantic abgeborgen wurden, auf der Cruise Europa abgesetzt und betreut.

Ausstattung
Die Cruise Europa markiert einige Änderungen im Unternehmen. Sie ist derzeit das einzige Schiff im Italien-Griechenland-Dienst mit zehn Kabinenklassen und bietet Platz für über 3.000 Passagiere, davon ca. 1.200 in Kabinen. Darunter sind Zwei- bis Vierbett-Innenkabinen sowie außenliegende Luxuskabinen mit ein oder zwei Betten, 54 Juniorsuiten und zwei Eignersuiten. Das Schiff verfügt über die auf griechischen Hochseefähren übliche Ausstattung:
 Je ein Self-Service- und Bedienungs-Restaurant
 Duty Free Shop
 Lounges
 Casino
 Pool mit getrennten Kinderpool

Als Reaktion auf die steigenden Anforderungen der Passagiere ist die Cruise Europa in einigen Punkten jedoch völlig neuartig. So ist sie mit einem Wellnessbereich ausgestattet, in dem sich ein Whirlpool und eine Sauna befinden. Zudem verfügt sie über ein Fitnesscenter mit Sportgeräten.

Galerie

Weblinks

Einzelnachweise

Passagierschiff (Italien)
Fähre (Mittelmeer)
RoPax-Schiff
Motorschiff
Fincantieri


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redpajama_set_name: RedPajamaGithub


Welcome to Calypso Luxury Limousines, the right place to look if you ever need of luxury of transportation. Whether you need a limousine for a special occasion, or you need a prestige car for your business trip, we are happy to help.
All our limos are chauffeur driven and of best quality. Moreover, we offer the most professional chauffeurs. Our chauffeurs are always in touch and we can carry from 1 to 7 people.
Maybe you are going to a special dinner, the theatre or opera and you wish to travel in a luxury chauffeur driven car or you just worry about parking, Calypso Limo can assist you. Alternately you wish to arrive in style to your birthday, stag party or anniversary, we can help you make any special event unforgettable.
Some think that a limo is not affordable or an exorbitant luxury. But that is not true, we offer the best prices in Brisbane and on the Gold Coast. You will be surprised how reasonable our limo hire prices are. Our limos are available for you to travel any time you need them. We can provide you with a transportation solution in one of our sedans or late model 7 seat luxury vans.
You can hire a limousine for all types of occasions: weddings, birthday parties, stag parties, hen parties, meetings, anniversaries, trips, airport transfers, a night out, sports events, and whatever you can think of.
Why Hire a Limo With Us?
Customer satisfaction is of the utmost importance to us. That is why we go out of our way to create a package that best fits your unique needs and budget. Our flexibility and the competitive nature of our rates also add to the overall satisfaction that our customers experience.
We also make our customers certain guarantees one of which is that your chauffeur and vehicle will pick you up and drop you off at the desired destination on time. In fact, with events such as weddings we will arrive a little early so you have at least one less thing to feel stressed or anxious about.
All our vehicles are carefully checked and serviced on a regular basis to ensure that they arrive at your door in good condition, so you need not worry about a sudden break down that ruins your big day or entire night or causes you to miss your flight or meeting. We take what matters to you seriously.
Our limo hire service can be easily booked through our booking line 0418 800 975 or complete our booking form.


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De malvabandspanner (Larentia clavaria) is een vlinder uit de familie van de spanners, de Geometridae. De voorvleugellengte bedraagt tussen de 19 en 22 millimeter. De imago kan verward worden met de in Nederland en België veel algemenere bruinbandspanner. De soort komt verspreid over in Europa en Noord-Afrika en van Klein-Azië tot de Kaukasus voor. Hij overwintert als ei.

Waardplanten
De malvabandspanner heeft als waardplanten heemst en kaasjeskruid.

Voorkomen in Nederland en België
De malvabandspanner is in Nederland een zeer zeldzame en in België een zeldzame soort, die verspreid over het hele gebied kan worden gezien. De vlinder kent jaarlijks twee generaties die vliegen van eind augustus tot november.

Externe links

 Lepidoptera of Belgium

Dier uit het Palearctisch gebied


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	cargo run --example abop_1_9 15
	cargo run --example dragon_curve 14
	cargo run --example fractal_plant 6
	cargo run --example koch_curve 5
	cargo run --example sierpinski 9
	convert -resize 800x abop_1_9_15.eps abop_1_9_15.gif
	convert -resize 800x dragon_14.eps dragon_14.gif
	convert -resize 800x plant_06.eps plant_06.gif
	convert -resize 800x koch_05.eps koch_05.gif
	convert -resize 800x sierpinski_09.eps sierpinski_09.gif


I'm working on programming a line following robot which follows a black line using two sensors and when both sensors senses black at the end of the line which looks like a 'T' the robot is supposed to turn around and follow the line back to its original spot and do the whole procedure two times. I made the robot follow the line but i need help with making it turn around. The chassis is a 6" x 61/2" board with two sensors on the bottom front and a breadboard on top with a battery pack. The sensors are about 4mm above the surface and about 2.5cm apart from each other. The black line is the width of electrical tape, so about 2 cm. A picture of the path is attached to this post. Please have a look at it and the code. Thank you very much.
* used by multiple functions.
// Initialize Output Compare 3 (OC3) to drive Motor A PWM signal to "3-4EN"
// Initialize Output Compare 2 (OC2) to drive Motor B PWM signal to "1-2EN"
* This forces you to choose a higher prescale.
* The servo is limited from 0 to 180 degrees rotation.
* The pulse width for this servo ranges from .75ms to 2.25ms.
* for 50Hz (20ms) control signal.
* global output control variables.
Topic moved from "In Circuit Serial Programming" to "Other PICmicro topics".
Just because a topic title includes the word "programming" doesn't mean it is a general programming discussion forum.
you will find pretty much the same people answering here, so there's not much to be gained by opening a parallel topic.
Note, your topic is in the wrong forum there. I purposely renamed the forum here to try to make sure people didn't make the same mistake.


Media commentator Jane Caro was considering running against Tony Abbott in Warringah, but she's now leaning more towards supporting another candidate.
Prominent media commentator Jane Caro is unlikely to run against Tony Abbott in the next Federal election despite flagging just weeks ago she was considering a tilt against the former prime minister.
On Tuesday night Ms Caro, who was confirmed in October she was considering running as an independent candidate in Warringah, said she was leaning more towards supporting another candidate in the seat.
"I think I'm probably at the point where I'm saying, I think there is probably more use I could be by not running," Ms Caro told AAP.
Ms Caro, who spoke earlier in the evening at an event run by non-partisan organisation Voices of Warringah, flagged issues including that she is a dual citizen who doesn't live in the electorate.
She spoke on a variety of topics including the current state of democracy and climate change.
"I don't have a particular expertise, like I was saying about (recently elected independent MP for Wentworth Kerryn Phelps), some of the people whose names are in the ring, they do, and so my thought processes is I want to do whatever it is I can, to do all the things that I was talking about in that speech," Ms Caro said.
"The whole point of this is not to get me into parliament," she said.
"(What got me to this stage was) thinking that, when I'm out in the world I can be as outspoken as I want, and there is a role for an agent provocateur, but whether that's what you can do in parliament, I don't know and I think I don't have a passion to do it, and I think if someone else has a passion to do it, maybe that's the person who should," Ms Caro said.


I don't have much to say this week. Dan is at a conference in Las Vegas, and I came along with him for the vacation.
It's a strange town, or at least the Las Vegas of the Strip is.
After wandering through the Venetian with its indoor canals and faux dusky twilight sky, Dan suggested that Las Vegas teaches us what it might be like to live on a spaceship with Earth-like landscapes.
There are so many competing stimuli, so many sounds, so many lights, so many people, so many many slot machines.
We've eaten well, but paid dearly for it. Our espressos cost $8 a piece last night. Oof.
I've been on my own during the days, and I think it's probably been a little bit too much time wandering through casinos for a person with no appetite for gambling. Still, it's been interesting and incredibly tasty.
I can highly recommend Tableau at the Wynn for a lovely and delicious and quiet breakfasting spot with impeccable service. I can recommend Sage (from Chicago chef Shawn McClain) at the Aria for new American cuisine, Bouchon Bistro (from Thomas Keller) at the Venetian for classic French, and Yusho at the Monte Carlo for Japanese street food.
I can say that it was interesting to participate in a TV focus group for some extra cash, but I signed a nondisclosure agreement so I can't say much more than that.
And I can say, without a doubt, that I am ready for some calm and some quiet after this.


5 am, brisket on the smoker and tired AF, what are you up to?
Anyone else in line at the Palladium?
I'm struggling with this also. I've been at my job 8 years but would really like to make more money and more benefits. Good luck in whatever you choose!
Baby didn't want to go back to sleep, took her for a 20 minute drive & now chilling in the car at 1 in the morning, what random thing are you doing now?


ENTRIES FOR 2015 CLOSED – NEW 2016 CONTEST COMING SOON!
Total of $2500 in prizes!
Are you Up to this Year's Art Challenge?
Grand Prize is a Custom Stained Glass window from your very own artwork.
Two stained glass windows were designed by the kids of the Ronald McDonald House and brought to life by The Tulsa Stained Glass Company.
The idea behind the Art Smart Challenge started in 1993 as the O.K.L.A. (Outstanding Kids Learning Art) Stained Glass Drawing Competition from the seeds of the Ronald McDonald House project.
Art Challenge was the next step in taking the competition worldwide. Though the competition has changed and grown, the mission of the Art Smart Challenge has remained the same: to motivate individuals to take action, have a positive art experience, and develop the "can do" spirit. The Art Smart Challenge allows children, adults, and seniors to be recognized as artists within the community.
The creative spirit is often stifled by the realities and drudgery of daily life, but the Art Smart Challenge aims to reignite that imaginative spark. When students are taught to express themselves, they discover they are capable of making deliberate decisions instead of running on "automatic." Confidence in daily decision-making soon leads to an enthusiasm for tackling greater challenges.
The Art Smart Challenge also aims to gather people together in a creating community. Together, all kind of people can help each other find the best ways to communicate. Working together gives everyone a chance to share technique, ideas, and opinions. Plus, doing art as a group is fun!
This competition also teaches entrants about the ancient craft of stained glass. This technique is a great medium for expression because it lends itself well to the simplest and most complicated of designs. The combination of light, strong color and bold outlines can make any design come to life. Where some mediums can leave a design looking simplistic, stained glass makes it shine with life and beauty.
The Art Smart Challenge is an excellent tool for improving communication skills. From the earliest cave paintings, people throughout history have used art to tell a story or convey an idea. The ability to use art as expression helps us move forward; it is a skill everyone should work to develop.
The Art Smart Challenge challenges participants to convey symbolically something that is meaningful to them.Besides being a fun activity for people of all ages, the Art Smart Challenge also provides teachers with learning tools. It can even be used as a program fundraising tool. Please contact us if you would like to get your group involved.


Hey remember sunshine? Gorgeous fall weather? Here's a little reminder 🙂 What a fun session with these two lovebirds…they are so sweet together.
This happy couple wanted a unique wedding, boy and did they ever have one! The ceremony and the reception was at a restaurant, bar/lounge and live event venue called 27 Live in Evanston, very cool space, the food and service beyond expectations. However clearly the star of the show was their dog Zamp, who took his ushering duties very seriously and was very well behaved.
A big thank you to Wedding Planner Tracy Fisher (Tracy Fisher Events) for making the whole day flawless.
The Hotel Hilton Orrington in Evanston is pet friendly!!
Officiant: Sunil Qusba, friend of the couple.
"My favorite wedding related purchase was my wedding planner! I could not have put all of the pieces together without her. She took a bride who did NOT grow up dreaming of her wedding and helped create a classy, laid back and FUN wedding day. She was always a phone call or text away and really helped to make our day relaxed, knowing that all of the details, big and small, were being taken care of! Our favorite part of the wedding were the heart-felt toasts from our family and friends. What a blessing it was knowing that we were surrounded by so many people who cared about us and truly did wish us the best on our wedding day and everyday thereafter!
Our main goal for our wedding was to make sure everyone had FUN! We had been to too many weddings where everyone sat at their tables and looked bored! Our DJ, Tim, kept everyone dancing and having a blast all night! I don't think there was a moment when the dance floor was empty!
The hotel and venue were very important to us when planning our wedding because our dog "Zamp" absolutely HAD to be a part of our big day! Both the Hilton Orrington and 27 Live accommodated our furry family member! Last but not least, Carol's Cookies were a huge end-of-evening SUCCESS! With so many guests in from out of town, they were airplane and hang-over friendly and tasted AMAZING!


Messenger bag Mini Suede Silver hardware Silver designer plaque ..
Clutch Metallic Snake Gold-tone Gold hardware Tassels ..
Clutch Semi-precious stones Detachable chain shoulder strap Fully lin..
Clutch Metallic Leather Silver hardware Designer stamp D..
Glittered Acrylic Embroidered Push-stud fastening front flap Ful..
Made in Italy Beaded Sequined Contrasting stitching Gold hardwar..
Box clutch Acrylic Silver hardware Glittered Spiked Inter..


Before heading straight to live chat, our knowledge base can help answer many frequently asked questions. To access the Boots knowledgebase and live chat, click on the widget in the bottom right hand corner titled 'Still got questions?'.
Using the search bar, type in keywords related to your question. If you still cannot find the answer to your question, a live chat option alongside a 'send us an enquiry' option will appear. Once the live chat icon is selected, we will put you in touch with one of our friendly customer service advisors who are more than willing to help you with any questions or queries you may have regarding Boots Travel Insurance.
Unfortunately, we cannot give out quotes or take payment over live chat as the system is not secure. However, you can call us on 03451253880 where one of our customer service advisors can do this for you.


In years past, Human Trafficking Awareness Day might have come and gone with little attention and even less understanding of the underlying factors forcing children and adults into servitude. Increased awareness and the work of established public sector organizations have fueled recent efforts by community activists and everyday citizens to support those suffering from the evils of this modern-day slavery. The various efforts showcase how modern human rights initiatives can be undertaken to gain traction in the anti-trafficking movement.
Institutions: Several types of institutions have focused their efforts on mission- and data-driven actions to help combat human trafficking. Faith-based organizations including churches, synagogues and mosques have recently made the issue of trafficking a key part of their social missions. One of the most exciting has been the work of the 60,000+ student Passion Conferences held annually where young Christians gather to talk about their role in raising awareness and funds for efforts to end trafficking. Thousands of faith institutions work weekly to engage the community on the issue locally and internationally. Another type of institution leading anti-trafficking efforts has been the museum community. The Freedom Center in Cincinnati has led the way in connecting America's history of freedom to contemporary issues resulting in the lack of freedom for those enslaved. Many museums have undertaken exhibitions, programs and educational initiatives, thus providing kids as young as elementary age with a deeper understanding of the plight of children their age forced into the criminal industry. More than just educating, museums have led the way in steering visitors to resources for taking action.
Media: For many years, the media shied away from the issue of human trafficking out of fear of creating audience discomfort. More recently, several significant efforts have been undertaken to highlight the issue. The multi-year CNN Freedom Project ( has used documentary footage, broadcast journalism and online resources to tell stories of individuals involved in the human trafficking industry to raise attention and outrage. PBS Frontline, HBO Documentary Films and scores of independent media outlets have pushed the stories of victims, the perpetrators and their exploitations in ways that have garnered public and governmental support. These approaches have showcased the continuing power of individual stories across the various media outlets we use every day. There are even multiple apps now available for individual use in fighting trafficking.
Individuals: The stigma of being a victim of trafficking often leads to silence, fear and unwillingness to speak out. The incredible courage of several victims to come forward and tell their stories has transformed the movement to end trafficking. Cambodian activist Somaly Mam and American activist Minh Dang are two prominent examples of empowered victims who have changed the "face" of the issue. Their voices and courage have inspired, philanthropists, politicians and individuals to take up the cause of justice.
As we recognize Human Trafficking Awareness Day this year, we must each acknowledge that remaining uninformed is an excuse, and that it is imperative for each of us to take up the cause of justice. Whether through an organization or on our phones, the ability to impact the lives of those still enslaved has never been easier or more necessary than now.
Doug Shipman is the CEO of the National Center for Civil and Human Rights based in Atlanta, Ga. The Center focuses on educational programs and exhibitions related to the connections between the American Civil Rights Movement and contemporary Human Rights issues. More information can be found at www.civilandhumanrights.org or follow Doug at @dougship on Twitter.


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Weekly Digest: January 19-23, 2016
First Projects on Track for the end of 2016
AIIB President, Jin Liqun, announced that the AIIB will seek to quickly move to approve its first loan before the end of 2016. Although the U.S. has refused to join the AIIB despite China's invitation, Washington has expressed that it is open to the AIIB's assistance in closing the infrastructure gap in Asia, which is now estimated to reach about $8 trillion in 2020 if not properly addressed. Chinese officials have reaffirmed their pledge to the AIIB's commitment to strictly follow international lending standards.
AIIB President Offers Interesting Perspective on Bank's Priorities
With a projected annual investment between US$10 billion-US$15 billion over the next 5 years, the AIIB is in prime position to demonstrate China's further "...rebalancing of the world economy" as stated by Luxembourg's Minister of Finance, Pierre Gramegna. AIIB President, Jin Liqun, stated that the bank will focus a lot of attention towards transparency, compliance, and integrity, which are viewed as "far more important than just making loans." Jin Liqun stated that the AIIB will work in complement with existing financial institutions such as the Japan-led Asian Development Bank (ADB) in order to effectively help countries (such as Nepal), reach their infrastructure needs.
The $100 billion AIIB opens for business: Will China's multilateral ambitions soar or sour?
Callaghan reports that the AIIB officially opened on January 16, as member countries signed on to the bank's articles of agreement. Callaghan remarks that the AIIB not only benefits China's economic sectors, but is additionally a multilateral gesture, demonstrating China's rising prominence throughout Asia and the rest of the globe. Furthermore, Callaghan posits that the development of the AIIB is intuitive, given China's new Silk Road policy, which requires increased relations between Asia and Europe. AIIB President, Jin Liqun, maintains that the bank meets safety and rights regulations upheld by existing institutions, like the ADB and World Bank, and that AIIB is a sibling to such institutions. Callaghan also mentions that the bank will initially focus on co-financing arrangements, and _that the bank will be building its crediting rating, so the leverage ratio and project financing will be somewhat limited in its opening quarters. While this may mean that the bank does not expand as rapidly as anticipated, Callaghan upholds that quality lending will ultimately benefit the AIIB's project outcomes.
China launches new AIIB development bank as power balance shifts
More about the official launch of the AIIB on January 16th. Officials of the bank state that it will engage in "high-quality, low-cost projects" and that the bank will help meet Asia's significant infrastructural needs. While the bank will reportedly engage in co-financed projects, it will also issue loans in US dollars and raise capital in additional currencies, such as the yuan and euro. While the article states that the AIIB will meet compliance standards issued by western-led institutions, such as the IMF, they will not mandate certain 'free market practices' that are favored amongst western banks. In so doing, AIIB aims to place more reasonable regulations upon the bank's borrowers.
AIIB a push for regional growth: Swee Keat
Singapore's Minister for Finance, Heng Swee Keat, declared that the AIIB could deliver economic prosperity to Asia. He urges that the bank could augment the capabilities of Asian policymakers to structure successful finance projects, utilize private investors to co-finance projects, lend financial discipline to development projects, and collaborate with other multilateral financial institutions to promote sustained growth.
New Zealand Treasury chief appreciates China's role in AIIB
New Zealand welcomes the positive changes offered by China's newly established AIIB. The bank will reportedly support projects in New Zealand, which relate to transportation, sanitation, water, and sustainability.
China-initiated AIIB to issue loans in US dollars: AIIB President
AIIB President, Jin Liqun, announced that the bank will issue loans in US dollars, with its first loan to occur in mid 2016. Furthermore, Jin Liqun has stated that he hopes the US currency will help the bank to operate better. The bank will also raise capital in the yuan, euro, and others, in order to help its members. English has also been confirmed as the working language of the bank. Additionally, Jin Liqun stated that the bank will establish an oversight committee to review the allocation of funds, and that $50 million has been earmarked for "infrastructure projects in less developed countries."
Nepal's Minister of Finance, Paudel, returns home from China
A report concerning a recent trip to China by Nepal's Finance Minister, Bishnu Prasad Paudel. Minister Paudel met with his Chinese counterpart to attend the AIIB's first meeting of its Board of Governors. Nepal will submit proposals for projects "related to hydropower generation, transmission, and north-south connectivity." Minister Paudel also sought Chinese aid in supplying petroleum products, infrastructural development, and investment in Nepal.
Chinese Ambassador Says Decline in China-Russia Trade 'Temporary'
The article asserts that while China and Russia experienced a near 29% drop in bilateral trade throughout 2015, the two nations will reverse that trend in the coming year. Collaborating through multilateral institutions such as the AIIB and BRICS banks, they aim to diversify and re-energize trade ties. China is Russia's largest "economic partner."
China hard landing tops investor risk concerns at Asian economic summit
Despite uncertainty in the current Chinese financial market, several reports assert that Asian economic growth will continue to surpass other global regions. Various Chinese officials maintained that institutions such as AIIB, and policies like the 'One Belt, One Road' initiative, will continue to sustain Chinese growth. Additionally, efforts to further integrate the Asian region will be fostered through free trade agreements with Japan and South Korea.
With ADB Support, AIIB will Make Effective Change in the Region
The AIIB will cooperate closely with the ADB to learn from their 50 years of experience. AIIB is financially supported mainly by China, India and Russia. AIIB will offer loans of about $10-15 billion each year to fund projects through Asia. These initiatives remain controversial, as the AIIB is perceived to be a rival of the World Bank.
China's Approach to their Financial Woes May Create a Global Downturn
The decision to become a founding member of AIIB by British Chancellor, George Osborne, displeased Washington. He made the decision based on the belief that China would become the global hegemon this century, surpassing the U.S. China's current slowing economy has created some doubt that Mr. Osborne's hypothesis will be correct. For the time being, the current economic situation in China does not forecast certain doom; however, a crisis may in fact arise if China continues to deal with its financial woes by deflating its currency.
The AIIB's Chief Executive Put Forth its Transparent Structure During its Launch
The chief executive of the AIIB, Jin Liqun, outlined the transparent structure of the AIIB during the bank's launch last weekend. As far as logistics go, it will use the U.S. dollar for lending and operate in English. Liquin discusses the AIIB's initial projects and maintains that perceptions of the AIIB are positive throughout the Eurasian region.
Review on China-Egypt Relationship
Laiming asserts that China will soon increase bilateral ties with Egypt. While Egypt is a member of both China's 'One Belt, One Road' initiative and the AIIB, the nation also boasts of its own 'Suez Canal Area Development Project,' which will allow multidirectional shipping in the Suez Canal, and increase its daily capacity by 90%. China has reportedly become a 'top user' of the canal. 2016 is marked as the 60th year of diplomatic relations between Egypt and China.
China, U.S. should ensure smooth transition of relationship in election year: ambassador
Cui Tiankai, the Chinese ambassador to the US, has remarked that the US and China should work on increasing their relations throughout the coming year. Citing challenges such as terrorism, financial crisis, and climate change, Cui professed that cooperation is necessary. Cui asserts that China has neither the intention nor the capability to "challenge the leading role of the United States in the world." Acknowledging US activity in the Asia Pacific as a "positive" and "constructive" role, Cui asserts that China has benefitted from the international world order. Furthermore, Cui reports that China seeks to partake further in such interactivity, as exemplified by its AIIB and Silk road economic policy.
With AIIB, Cambodia diversifies funding
The article reports that Cambodian officials welcome new membership in AIIB, saying it will help meet "infrastructure and connectivity needs" within the country. Last Week, the Cambodian National Assembly ratified the AIIB's articles of agreement, and have proposed to invest over $62 million dollar within the bank.
Sri Lanka to obtain formal membership of Asian Infrastructure Investment Bank subscribing US$ 268mn
The Sri Lankan National Cabinet has approved the AIIB's Articles of Agreement, making the country an official member of the bank with an initial investment of $268 million.
Expert: AIIB to alter the financial world
Jim Stoopman, Programme Coordinator at the European Institute for Asian Studies, has remarked that the AIIB is an alternative for existing financial institutions, such as the World Bank and International Monetary Fund. He asserts that AIIB adds to the existing financial landscape, and will potentially improve the role of the renminbi, which will be used to settle loans for AIIB.
Bangladesh fails to get AIIB membership
The Parliament of Bangladesh has failed to ratify the bank's Article of Agreement. Bangladesh's Finance Minister AMA Muhith, reported that the parliament was unaware of the urgency of ratification. Bangladesh has submitted 8 project proposals to AIIB, and hopes to receive funding for infrastructural developments. The government is most focused on a road link project.
The AIIB is Ready for Business
AIIB President-designate, Jin Liqun, discusses how the AIIB is different from other multilateral development banks, like the Asian Development Bank or World Bank. Jin asserts that Asia lacks infrastructural developments. While the region has grown in economic and political clout, Jin reports that the bank espouses transparency within its structure, and that members will hold more voice and direction than in existing institutions. The bank will also use private and public financing, and hopes to thereby mitigate risks in lending. Jin Liqun lastly mentions that the bank centers upon sustainable development and will manage environmental and social risks associated with investments.
U.S. Dollar Declared the Official Lending Currency of the AIIB.
With the AIIB officially open for operations comes the announcement that the new Chinese-led bank will use the U.S. dollar as its official currency of lending. This stems from the fact that the RMB would have been problematic for many nations due to the pervasive use of the USD, making loans in RMB quite undesirable at this point for many countries. Although the IMF recently added the RMB as a global reserve currency, it has yet to be determined if it will eventually become an official lending currency of the AIIB at a later time.
AIIB Officially open for Business
Chinese President Xi Jinping on Saturday inaugurated the Asian Infrastructure Investment Bank at a ceremony attended by about 450 people in Beijing. President Xi Jinping noted that this is a historic moment for China and a boost in the country's effort to take more international responsibility by working to improve the investment environment and integration in Asia by means of the new 57-member lending institution. AIIB is perceived to symbolize China's rise and challenge to the global financial system dominated by the U.S.
The U.S. and Japan are not members of AIIB but more than a dozen European countries decided to join the AIIB. Japan and the United States are skeptical about the quality of AIIB's lending standards and governance as well as whether infrastructure projects will be environmentally friendly. Taiwan is also perceived to be worried about China's growing influence in Asia.
The creation of the AIIB in less than three years is considered widely welcomed by developing countries due to limitations in the lending capacities of existing multilateral institutions such as the World Bank and the Asian Development Bank. These institutions are not expected to meet the fast-growing demand for infrastructure investment.
Expert, Liu Baocheng, Offers Insight on Some of the AIIB's Initial Projects
Dean of the Center for International Business Ethics at the Beijing based University of International Business and Economics, Liu Baocheng, responds to questions concerning the AIIB's initial projects and structure. Watch the full interview HERE.
Weekly Digest: January 4-11, 2016
China's forward movement despite minor setbacks
Although China faces a sticky situation with its slowing GDP, there is still ambition as President Xi Jinping looks forward into 2016, particularly with the opening of the China-led Asian Infrastructure Investment Bank, which will be instrumental for Xi to emphasize the "One Belt, One Road" initiative.
Indonesia is in prime position, being strongly considered as the first recipient of an infrastructure loan from the bank (about 450 billion USD). The Philippines, India, and Vietnam are also strong contenders for the first loan; therefore, this is perhaps where it is to Indonesia's advantage to have a much higher voting share than any of the other countries vying for initial loans.
Philippines to keep interest in AIIB involvement separate from South China Sea conflict (Tagalog)
Philippine officials try to make clear that the on-going territorial dispute between the Philippines and China over islands in the South China Sea will not affect the Philippines pending membership status with the Asian Infrastructure Investment Bank. These are two separate issues and the dispute is only one aspect of the multi-faceted relationship between the two countries.
*Translation by Joey Balledos
Is the world REALLY ready for the AIIB?
"The China footprint" by Jason Lee of REUTERS takes the 3rd spot on the top 10 biggest risks of 2016. The concern of this being a risk stems from the fact that China is now asserting its prowess as a major international influence. There is still also the concern that the AIIB's projects and governance will be biased and fall prey to China's poor track record in good governance. It is mentioned that the world might not be adequately prepared for (or agree with) what China has in mind with its new and upcoming projects.
AMRO to launch as Asian version of IMF this spring
The Japan Times reports that an Asian equivalent to the International Monetary Fund, or IMF, will launch this spring. A Singapore-based institution, known as the ASEAN Macroeconomic Research Office (AMRO) is expected to be upgraded to the level of an official international organization. Historically led by Japan, AMRO possesses 13 member countries, ten of which belong to the Association of Southeast Asian Nations, while the remaining three include Japan, China, and South Korea. Known as the largest contributors to AMRO, both Japan and China possess considerable sway within the organization. The Japan Times hypothesizes that China would greatly augment AMRO's influence, given China's significant clout following the establishment of AIIB and the introduction of its yuan to the IMF special reserve currency.
China's Dilemma over Land and Sea Routes
Colarizzi questions whether China may be focusing too much on its development of a high speed rail line between Xinjiang and West Asia. Rathern than stressing connectivity and continental access, Colarizzi questions if the nation is overemphasizing rail development. Colarizzi suggests that as a part of its Silk Road Initiative, China also take time to develop other maritime routes connecting the Asian Pacific to other regions, and also asserts that with enhanced transport should also come the construction of infrastructural entities, like ports and shipping complexes. Colarizzi lastly writes that at the moment, sea transport is the most viable option for transporting goods and exports, as it's rail line may take several years to complete.
Investors fear 'hollow' US-EU alliance
Due to growing foreign policy differences and the formation of new alliances, some analysts are projecting a decrease in cooperation between the US and European Union nations. Hirano states that a report published by the Eurasia Group ranks the ten biggest risks throughout 2016. Hirano asserts the US and European nations possess differing responses to global security threats, such as the Islamic States, which may contribute to the projected decrease in cooperation. The report also ranked "China's footprint" third on their list, citing their recently established AIIB, as well as their growing political clout.
Turkey must harmonize laws with China-backed bank before Jan. 16
In order to appoint a representative to AIIB's board, Tekdal reports that Turkey must forge an agreement between Turkish domestic law and the bank's legal structure. In order for countries to appoint representative to the Chinese bank, each nation must assure that their local legislation concurs with the AIIB founding agreement. AIIB administration is composed of a board of governors and a board of directors. Tekdal asserts that in order for a country to appoint a director to the AIIB board, they must attain at least 6% of AIIB member's votes. In order to appoint a Turkish representative, the country has teamed up with other AIIB member-nations, such as Brunei, Azerbaijan, Georgia, Kyrgyzstan, and Pakistan. Tekdal notes that this collectivity has agreed to appoint a Turkish representative for 7 years, and a Pakistani representative for the remaining 3 years of each director's 10 year term to the AIIB board. Meetings regarding AIIB will next convene on January 16, in Beijing, in order to discuss the agreements.
AIIB funds may be tapped for PPPs
The National Treasurer of the Philippines reports that the country may receive funding from AIIB in order to implement Public-Private Partnership Projects. Within this category, the AIIB could help to finance domestic projects such as mass transit, water, and telecommunications development. The Philippines possess an estimated 55 PPP projects, and will develop and submit proposals for them to AIIB. The Philippines must still ratify AIIB membership before becoming an official member of the bank.
AIIB to focus on investment in information technology infrastructure
AIIB President-designate, Jin Liqun, reports that the bank is devoted to advancing investment in information technology. Jin elaborated that information technology foster integration within regional and global economies by boosting connectivity. Jin also stated that potential investments in technology would include "fixed broadband networks, fiber optic telecommunication cables..wireless sensor networks, satellite services, new generation mobile telecommunication networks, cloud computing, and big data platforms." Overall, Jin stressed that the AIIB will facilitate "financial support for infrastructure development and regional connectivity in Asia."
China, Britain vow AIIB cooperation, visa facilitation
Chinese Foreign Minister Wang Yi recently met with his British counterpart, Philip Hammond in Beijing. The two ministers discussed increasing cooperation on industry, culture, and finance. Wang reportedly signaled China's readiness to cooperate more on nuclear power, rail way development, and AIIB. Additionally, a press release also reported that the two countries would relax visa regulations by mutually issuing "multiple-entry visas for up to two years to each other's citizens." The two leaders also agreed to communicate more openly within international organizations such as the United Nations and the World Trade Organization.
AIIB tipped as buyer of Wan Chai building
The Standard reports that AIIB is one of several buyers interested in purchasing the Dah Sing Financial Centre in Wan Chai. Worth between $9-12 billion, government officials denied reports that AIIB had purchased the centre.
Media: the first annual meeting of the AIIB will be held in June in Beijing
The AIIB's first annual meeting, which includes all member countries, will be held this June in Beijing. The meeting will occur at the level of the board of governors, rather than being presented to Finance Ministers of the member countries. Additionally, AIIB's board of governors and board of directors will meet in mid January to appoint an official bank president. It is expected that the president designate, Jin Liqun, will be selected as president.
Beijing To Host First Annual AIIB Meeting In June, Lending To Start In Q2
The AIIB is expected to begin lending in its second financial quarter, as reported by China Daily. The bank will host an official meeting in Beijing in June. Later this month, the bank's board of directors and board of governors will meet to elect AIIB's first president and "12 constituency directors." The bank has 57 founding members, with more countries projected to join throughout 2016.
US Congress gives in and passed the IMF quotas reform
Rodríguez stresses that the IMF has eased regulations that have increased Chinese influence. For instance, in November 2015 the IMF incorporated the Chinese yuan into the organization's special drawing rights, reserve currency basket. Most recently, Rodríguez reports that the IMF has reformed its quotas representation system, which allows China and other emerging market-countries to expand their influence. While other European countries will lose power to offset the reforms, the US will retain its veto powers. Rodríguez questions the extent of the reforms, since the US still holds on to considerable influence in the IMF, and could veto the proposals of any emerging powers.
Check out our all-team IPD BLOG for more IPD updates!
Weekly Digest: December 28, 2015-January 3, 2016
The Philippines joins China-led Asian Infrastructure Investment Bank
The Philippines has signed on as the 57th founding member of AIIB, as reported by CNN Philippines. Taruc states that the Philippine infrastructure gap will reach nearly $127.12 billion between the years 2010-2020. Noted as China's "second-largest trading partner" in 2014, the Philippines anticipate an extension of their infrastructural capabilities and an increased role in "bankable projects." Taruc lastly adds that the AIIB will host an inaugural meeting of its Board of Governors and Board of Directors in Beijing in mid January.
Parliament ratifies AIIB's Articles of Agreement
The Nepalese Parliament has ratified AIIB's Articles of Amendment, making the country an official, founding member of AIIB. Nepal's Finance Minister, Bishnu Prasad Poudel hopes that the country will benefit in its infrastructure development and productive sectors. The article reports that Nepal will purchase 806 shares in the bank, which amount to nearly $16.2 million. Classified amongst fellow AIIB members as a 'least developed bank,' Nepal will pay for shares in installments, over a period of ten years. Government officials caution that Nepal must spend nearly $13-18 billion to finance their infrastructure gap. Some worry that the government's capacity to absorb capital may hinder infrastructure development.
Recapping 2015, in numbers
Examining several of 2015's leading stories in geopolitics, Newby regards the AIIB's formulation as a noteworthy occurrence. Gaining a total of 57 founding members, Newby remarks that the exclusions of 'established powers within AIIB', such as the USA and Japan, still possess untold repercussions. In addition to AIIB, Newby's report included other events, such as the recent downfall in the Chinese stock market, Chinese President Xi Jinping's visit to the White House, and the establishment of the Trans-Pacific Partnership.
China's assertiveness pushes Vietnam toward an old foe... the United States
Denyer reports that relations between Vietnam and China have soured in recent decades, leading Vietnam to increasingly depend on the US. While the Vietnamese economy appears to welcome economic supports from AIIB, Denyer asserts that the country is weary of a hidden agenda in Chinese projects like the Silk Road Initiative. Referring to the development of a high-speed rail across the ancient silk road route, Vietnamese officials claim that the Chinese have forced unfair and costly conditions for railway contracts on Vietnamese soil. For instance, Denyer explains that a Chinese-led rail project currently runs 'three years behind schedule and 57 percent over budget.' Due to loan obligations, Vietnamese officials are unable to replace Chinese contractors, or what they allege as 'outdated technologies' being installed by Chinese companies. As a result of such complaints, there has been an increase in cooperation between the US and Vietnam. For instance, the US has decreased several arms embargoes on Vietnam, thus allowing Vietnam greater capacities for self-defense against Chinese territorial claims in the South China Sea. Additionally, the US included Vietnam within their Trans-Pacific Partnership, which notably, excludes China. Though Vietnam is a member within AIIB, Denyer suggests that Vietnam's role in the TPP could augment its economic prospects without Chinese aid.
The Year That Was: China Repositioning For Slower But Steady Growth
This article recapitulates several key occurrences in China's economy throughout 2015. For instance, RTT hypothesizes that due to a weakened demand for exported products, factory overcapacity, and increased debt, the Chinese government altered policies to support domestic consumption. As a result, Chinese stock suffered due to economic and investment slowdowns. However, RTT positively reported that November 2015 brought the inclusion of the Chinese renminbi within the International Monetary Fund's Special Drawing Rights basket. This allows China greater movement within international financial institutions. Additionally, China announced its official establishment of its AIIB in 2015. The bank is projected to open in early January 2016. RTT concludes the piece by asserting that the Chinese government will also address issues such as pollution, income inequality, and poverty reduction throughout 2016.
Pakistan is China's only all-weather strategic partner
The articles is based on reports by a daily publication, which asserts that the relationship between Pakistan and China "has expanded from political and security fields to economy and trade, climate change, food and energy security." The article claims that relations between the two countries on not based on ideology, but rather, similar visions of security and strategic interests. Greater Kashmir suggests that Pakistan and China possess mutual stakes in one another, such that membership in entities such as AIIB, the Shanghai Cooperation Organization, or The South Asian Association for Regional Cooperation, will solidify bilateral activities.
Hectic Year of trips brought acclaim and growing influence to country
In efforts to broadcast its Silk Road Initiative and Asian Infrastructure Investment Bank, the article states that China has increased its international relationships throughout 2015. Emphasizing China's emerging role as a leader in the global economy, the article cites Western members in the AIIB as evidence of growing clout for Chinese institutions. Further evinced by the Chinese renminbi's inclusion as an International Monetary Fund special reserve currency, China appears to have solidified relations with Western nations.
Senior MP wants Iceland to quit AIIB
The article reports that Frosti Sigurjónsson, Member of Parliament for the governing Progressive Party and Chair of the Parliamentary Committee for Economic Affairs and Trade, disfavors Icelandic membership in the China-led AIIB. Believing that the Iceland's financial contributions to the bank could be better spent on national issues. Sigurjónsson further asserts that participation in AIIB gives the bank and its employees immunities from surveillance and taxation. The article states that such immunities would require special provisions granted by the Icelandic parliament. While other officials think that membership will enhance Iceland's relations with Asian nations, Sigurjónsson retorts that Icelandic representation in the bank's shares occupy a minuscule percentage, such that the country's influence on AIIB policies are limited.
Foreign Ministry Spokesperson Lu Kang's Regular Press Conference on December 31, 2015
Foreign Minister of China, Lu Kang, issued several statements in a press conference summarizing the nation's diplomatic achievements throughout 2015. Regarding the Asian Infrastructure Investment and BRICS banks, Lu Kang stated that both institutions aim to construct "a new type of international relations featuring win-win cooperation." The People's Republic of China intends to play an active part on major world issues such as climate change, security, diplomacy, and others through methods of 'international cooperation.' Lu Kang cites other 2015 projects, such as the China-UN Peace and Development Fund, Belt and Road Initiative, and the China-ASEAN Free Trade Area as hallmarks of 2015's diplomacy.
The ongoing geo-political changes of 2015
The article summarizes some of the major changes that affected diplomacy throughout 2015. Xinyu remarks that the rise of the Islamic State, or IS, has made western powers more dependent on Beijing. Pushing the US to remain active throughout the Middle East and distracting from efforts in the Asia Pacific, Xinyu asserts that global leaders throughout the US, Europe, and Russia have relied upon China for additional supports. Regarding China, Xinyu affirms that the international economic system has also made remarkable changes in 2015. Citing developments such as China's AIIB, the multilateral BRICS bank, the IMF's introduction of the Renminbi in the reserve currency basket, and the US-led Trans-Pacific Partnership, Xinyu insinuates that global economic entities have increasingly integrated emerging markets and investors.
'Hot peace' to take hold in East Asia
The Herald regards 2015 as a year of regional conflict throughout the Asia Pacific. Citing territorial disputes in the South China Sea, the continuation of Silk Road economic policy, and the creation of its AIIB, Song Sang-ho regards China as a having instigated regional tensions through 2015. The author projects that China will continue developing these initiatives throughout 2016, but with efforts targeted towards economic revitalization in order to reverse economic downfalls of 2015. Additionally, the author foreshadows increasing relations between the US and China due to continued terrorism throughout the Middle East. At the same time, Song Sang-ho notes that such global tensions may push the US to engage its other Asian allies, such as Japan and South Korea, to jointly eliminate security threats such as terrorism.
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redpajama_set_name: RedPajamaCommonCrawl


text:
Small Businesses Are Backing Away From Groupon This Holiday Season
Oliver St. John,
Nov. 28, 2012, 6:30 PM
dredoggie/instagram
This holiday season, small retailers are leaving Groupon off their lists as far as sales strategy goes.
This shopping season is the biggest one of the year, and small businesses often rely on sales made during this period to bring them into the black as the year comes to a close.
A sales strategy that didn't work during the rest of the year is out of the question for the holidays, says Pamela Springer, CEO of online small business network Manta.
This doesn't bode well for Groupon and other daily deals sites. Only 3percent of retailers got repeat customers out of daily deals promotions, according to a survey Manta released Oct. 30.
"They're doubling down on things that work, and leaving things that are less proven or they've had experience with and didn't work off to the side," says Springer.
If businesses aren't getting repeat customers out of Groupon deals, they're losing money, says Anthony Bruce, CEO of retail data analyzer Applied Predictive Technology. Groupon often charges businesses as much as half the revenue of a deal sale, which is usually a drastic discount already.
"If there are future purchases that occur because of a Groupon, that's great," says Bruce. "If it's an incremental visit I wouldn't have gotten anyway, it's bad. If it's a visit I would have gotten anyway but did it with a Groupon, that's terrible."
Jennifer Untermeyer says she won't use Groupon this holiday season, because she lost money on the five daily deals she ran last year for her business, TravelKiddy, an online store that sells toys and games to keep kids busy during road trips or plane rides. She ran her first $10 deal for $20 of merchandise on Eversave last November, trying to snag holiday travelers, and ran four more similar deals on niche mom-themed deals sites, hoping to score new customers.
It didn't work.
"We can tell how many people we've had repeat, and it's eight or nine out of 3,000 deals," she says. "We ended up in an overall loss, even factoring in the marketing benefits."
Sales chief Kal Raman says Groupon helps businesses retain customers through its reward program, which is sort of like a frequent-flier program for customers. The program helps businesses track purchases a Groupon customer has made, and after a certain level of spending is reached, Groupon automatically sends the customer a free deal.
"We effectively become their loyalty-management company," says Raman, who sees Groupon as a great way for retailers to sell inventory they'd otherwise be sitting on. "As a small-business owner, you can aim high, and we can hedge that risk."
Will Ander, senior partner of retail strategy firm McMillan Doolittle, says liquidation is the only good thing Groupon does for small retailers. "It's more effective than giving it to the Salvation Army."
Read the original article on USA Today. Copyright 2019.
More: USA Today Groupon Small Business Holiday Season


Maker of Apple's iPhones and iPads plans to have an incubator up and running by the end of next year, sources tell Bloomberg.
Foxconn, best known for assembling Apple's iPhones and iPads, is launching an investment fund to support startups focused on developing new kinds of wearable computers, Bloomberg reports.
Foxconn unit Syntrend Creative Park will administer the $6.8 million fund and select candidates for trial in the first quarter of the new year, Bloomberg reported, citing unidentified sources. However, an associated incubator that will provide offices and advisory services for startups is not expected to be operational until the end of the next year.
CNET has contacted Foxconn for comment and will update this report when we learn more.
Foxconn, which has also produced consumer electronics for Microsoft, Dell, and Sony, apparently has aspirations beyond manufacturing for other companies. Just a month after reportedly receiving 1,000 orders for the much-rumored Apple smartwatch as a trial run, the Taiwanese company demoed a smartwatch at a shareholders meeting this summer that can wirelessly connect to an iPhone to display incoming phone calls and Facebook posts.


Cenozoic, Tertiary, Early Miocene to Late Oligocene (16.4-28.5 Mya).
Poinar Amber Collection, Oregon State University, Corvallis, Oregon, USA.
This species is placed in subgenus Toxorhynchites. It is the first record of this subgenus in the New World. The fossil is associated with the Cenozoic Planktonic Foraminiferal Zonal Sequence, dated radiometrically at 22.5-26.0 My. However, this is the minimum age of the fossil as it ,was washed into a coastal lagoon from soils beneath resin-producing trees' (Zavortink & Poinar, 2008).
Holotype ♀, Near Simojovel, Chiapas, Mexico (in Mexican amber).