Month: October 2022

U.S. Treasury Secretary Janet Yellen said a decision by the OPEC+ grouping to cut oil production was “unhelpful and unwise” for the global economy, especially emerging markets, the Financial Times reported Sunday.

“We’re very worried about developing countries and the problems they face,” Yellen told the newspaper in an interview.

She also criticized allies for being slow to send financial aid to Ukraine.

“The pace of transferring money to Ukraine is far too slow,” Yellen added, pointing out that some countries that had pledged assistance had not got round to disbursing it.

Source: Voice of America

Older people with limited mobility and those with chronic health conditions requiring the use of electrically powered medical devices were especially vulnerable when Hurricane Ian slammed into Southwest Florida, and experts warn such risks to society’s oldest are growing as disasters increase with the impact of climate change.

Almost all of the dozens of people killed by Ian in hardest hit Lee County were 50 or older, with many in their 70s, 80s and even 90s. That’s highlighted the rising dangers for those least likely to be able to flee such disasters and those most likely to be impacted by the aftermath.

Climate change makes hurricanes wetter and more powerful, but it also increases the frequency of heat waves like ones that scorched the Pacific Northwest the last two summers, killing scores of mostly aged people. It’s also intensified drought-fueled wildfires like the inferno that incinerated the California town of Paradise in 2018, killing 85 people, again mostly older.

“It’s not terribly surprising that physically frail, socially isolated people are the most likely to die in these events. But it is politically significant,” said New York University sociology professor Eric Klinenberg. “If we know people are at risk, why aren’t we doing more to help them?”

Klinenberg, who wrote the book “Heat Wave: A Social Autopsy of Disaster in Chicago” about extreme heat that killed more than 700 mostly older and Black people in July 1995, called Ian a mere preview.

“We saw this happen in Chicago, in (Hurricane) Katrina, in (Superstorm) Sandy, and we are going to see more and more as the globe becomes increasingly hotter,” he said.

Florida in particular will feel the increased impact of climate-fueled disasters, sitting in the path of many Atlantic storms and with a large share of retirees drawn by warm weather, a vast coastline and relatively cheap housing. About 29% of Lee County’s population are 65 and older.

One of the more dramatic stories of Ian demonstrates the risks. Johnny Lauder’s 86-year-old mother Karen Lauder, who uses a wheelchair, initially refused to evacuate. But as the water inside her home began to rise nearly above her head, she was unable to flee and her son had to come rescue her in an ordeal he documented.

The extreme dangers some face when they lose power was especially clear in Lee County, where an 89-year-old man died after the electricity he needed for his oxygen went out and then his backup generator failed.

Florida has attempted to address some of these issues by setting up shelters where people with health conditions that require electricity for oxygen, dialysis and devices like ventilators can preregister to stay.

AARP Florida Director Jeff Johnson praised the special shelters, saying the state’s county emergency management agencies had modernized and improved evacuation operations the past two decades.

“There is room for improvement, but it would be wrong to say they aren’t doing anything,” he said.

Home-based networks that deliver care and services to older people, as well as neighborhood associations and faith communities can also help by checking on socially isolated older people, Johnson said.

Several hurricane survivors sat in wheelchairs Thursday outside one special shelter set up at an elementary school in Fort Myers.

Merrill Bauchert, 60, was staying there because Ian destroyed his home and he needs electricity for the CPAP machine he uses for severe sleep apnea.

Bauchert said dozens of residents from a senior living facility were staying there, many of them with mobility problems or dependent on electrical medical devices to stay alive.

Large oxygen tanks were used at first for people with breathing problems, he said, but those were later replaced with mechanical oxygen generators for individual use. Conditions have improved with restored water service, but the early days were tough, Bauchert said.

With many people too frail to go outside and no sewer service inside, using the restroom involved putting a plastic bag in a toilet and sitting down, sometimes with help.

“You were actually doing your business in a trash bag. Take the trash bag, tie it in a knot, throw it in the trash can and put another bag in for the next person,” he said.

Gov. Ron DeSantis has recognized the disproportionate effect Ian had on the state’s older residents, and the need for local groups to help their recovery.

“It hit in areas that have a lot of elderly residents, and I’ve met a lot of the folks,” DeSantis said at a news conference Thursday. “So you’re somebody who’s maybe 85 years old. You may not be able to do the same home repair that you used to be able to do when you were younger.”

While the death toll of over 100 and property damage from Ian was catastrophic, Hurricane Katrina caused far more deaths and destruction in August 2005.

Researchers have concluded that nearly half of those killed by Katrina in Louisiana were 75 or older. A 2006 Senate Committee report noted a failure by all levels of government to effectively evacuate thousands of older, sick and disabled people from New Orleans as neighbors with cars fled the city.

Older people are also at risk from heat in the days and weeks after major storms.

After Hurricane Ida slammed Louisiana in 2021, of nine New Orleans residents killed by heat and 10 for whom heat was a contributing cause of death, only four — two in each group — were under the age of 60, according to information provided by the Orleans Parish Coroner’s Office.

The aftereffects of Hurricane Irma in 2017 took an especially large toll. The direct impacts of the storm killed more than 90 people in the U.S., but researchers at the University of South Florida and Brown University found 433 additional residents at Florida nursing homes died within 90 days of the storm, compared to the same period in 2015, when there were no hurricanes.

The study was prompted by the heat-related deaths of 12 residents at a Broward County nursing home that occurred when the storm knocked out air conditioning and staff didn’t move them to another facility. An administrator and three nurses were later charged.

Klinenberg, the sociologist who wrote about the Chicago heat deaths, said the fault lies in how society cares for its elders not only during disasters, but daily.

“We live in an aging society and in a way we are victims of our own success,” he said. “Europe has the same problem. Also, Japan and Korea. People are living decades longer because of medical science, but we don’t know how to care for them.”

Source: Voice of America

China Saturday criticized the latest U.S. decision to tighten export controls that would make it harder for China to obtain and manufacture advanced computing chips, calling it a violation of international economic and trade rules that will “isolate and backfire” on the U.S.

“Out of the need to maintain its sci-tech hegemony, the U.S. abuses export control measures to maliciously block and suppress Chinese companies,” said Foreign Ministry representative Mao Ning.

“It will not only damage the legitimate rights and interests of Chinese companies, but also affect American companies’ interests,” she said.

Mao also said that the U.S. “weaponization and politicization” of science and technology as well as economic and trade issues will not stop China’s progress.

She was speaking after the U.S. on Friday updated export controls that included adding certain advanced, high-performance computing chips and semiconductor manufacturing equipment to its list, as well as new license requirements for items that would be used in a supercomputer or for semiconductor development in China.

The U.S. said that the export controls were added as part of ongoing efforts to protect U.S. national security and foreign policy interests.

U.S.-China relations have deteriorated in recent years over technology and security issues. The U.S. has implemented a raft of measures and restrictions designed to prevent China from obtaining chip technology, while China has earmarked billions for investment into the production of semiconductors.

The tensions have impacted semiconductor companies in the U.S. and globally which either export chips or manufacture chips in China. Semiconductor companies such as Nvidia and AMD have seen a 40% decline in stock price over the past year.

“We understand the goal of ensuring national security and urge the U.S. government to implement the rules in a targeted way—and in collaboration with international partners—to help level the playing field and mitigate unintended harm to U.S. innovation,” the Semiconductor Industry Association, which represents U.S. semiconductor industry, said in a statement.

Source: Voice of America            

The city of Philadelphia issued an apology Thursday for the unethical medical experiments performed on mostly Black inmates at its Holmesburg Prison from the 1950s through the 1970s.

The move comes after community activists and families of some of those inmates raised the need for a formal apology. It also follows a string of apologies from various U.S. cities over historically racist policies or wrongdoing in the wake of the nationwide racial reckoning after the killing of George Floyd by a Minneapolis police officer.

The city allowed University of Pennsylvania researcher Dr. Albert Kligman to conduct the dermatological, biochemical and pharmaceutical experiments that intentionally exposed about 300 inmates to viruses, fungus, asbestos and chemical agents including dioxin — a component of Agent Orange. The vast majority of Kligman’s experiments were performed on Black men, many of whom were awaiting trial and trying to save money for bail, and many of whom were illiterate, the city said.

Kligman, who would go on to pioneer the acne and wrinkle treatment Retin-A, died in 2010. Many of the former inmates would have lifelong scars and health issues from the experiments. A group of the inmates filed a lawsuit against the university and Kligman in 2000 that was ultimately thrown out because of a statute of limitations.

Philadelphia Mayor Jim Kenney said in the apology that the experiments exploited a vulnerable population, and the impact of that medical racism has extended for generations.

“Without excuse, we formally and officially extend a sincere apology to those who were subjected to this inhumane and horrific abuse. We are also sorry it took far too long to hear these words,” Kenney wrote.

Last year, the University of Pennsylvania issued a formal apology and took Kligman’s name off some honorifics like an annual lecture series and professorship. The university also directed research funds to fellows focused on dermatological issues in people of color.

Source: Voice of America

America’s employers slowed their hiring in September but still added a solid 263,000 jobs — potentially hopeful news that may mean the Federal Reserve’s drive to cool the job market and ease inflation is starting to make progress.

Friday’s government report showed that last month’s job growth was down from 315,000 in August and that the unemployment rate fell from 3.7% to 3.5%, matching a half-century low. Last month’s job gain was the smallest since April 2021.

September’s slightly more moderate pace of hiring may be welcomed by the Fed, which is trying to restrain the economy enough to tame the worst inflation in four decades without causing a recession. Slower job growth would mean less pressure on employers to raise pay and pass those costs on to their customers through price increases — a recipe for high inflation.

Still, the Fed would need to see more sustained evidence that hiring and pay gains are slowing before it would moderate its interest rate hikes as it fights inflation. In September, hourly wages rose 5% from a year earlier — the slowest year-over-year pace since December but still hotter than the Fed would want. The proportion of Americans who either have a job or are looking for one slipped slightly, a disappointment for those hoping that more people would enter the labor force and help ease worker shortages and upward pressure on wages.

Leisure and hospitality companies, including hotels, restaurants and bars, added 83,000 jobs last month. Health care and social assistance employers gained 75,000 jobs, factories 22,000. But governments cut jobs. Retailers, transportation and warehouse companies reduced employment modestly.

The public anxiety that has arisen over high prices and the prospect of a recession is carrying political consequences as President Joe Biden’s Democratic Party struggles to maintain control of Congress in November’s midterm elections.

In its epic battle to rein in inflation, the Fed has raised its benchmark interest rate five times this year. It is aiming to slow economic growth enough to reduce annual price increases back toward its 2% target.

It has a long way to go. In August, one key measure of year-over-year inflation, the consumer price index, amounted to 8.3%. And for now, consumer spending — the primary driver of the U.S. economy — is showing resilience. In August, consumers spent a bit more than in July, a sign that the economy was holding up despite rising borrowing rates, violent swings in the stock market and inflated prices for food, rent and other essentials.

Fed Chair Jerome Powell has warned bluntly that the inflation fight will “bring some pain,” notably in the form of layoffs and higher unemployment. Some economists remain hopeful that despite the persistent inflation pressures, the Fed will still manage to achieve a so-called soft landing: Slowing growth enough to tame inflation, without going so far as to tip the economy into recession.

It’s a notoriously difficult task. And the Fed is trying to accomplish it at a perilous time. The global economy, weakened by food shortages and surging energy prices resulting from Russia’s war against Ukraine, may be on the brink of recession. Kristalina Georgieva, managing director of the International Monetary Fund, warned Thursday that the IMF is downgrading its estimates for world economic growth by $4 trillion through 2026 and that “things are more likely to get worse before it gets better.”

Powell and his colleagues on the Fed’s policymaking committee want to see signs that the abundance of available jobs — there’s currently an average of 1.7 openings for every unemployed American — will steadily decline. Some encouraging news came this week, when the Labor Department reported that job openings fell by 1.1 million in August to 10.1 million, the fewest since June 2021.

Nick Bunker, head of economic research at the Indeed Hiring Lab, suggested that among the items on “the soft-landing flight checklist” is “a decline in job openings without a spike in the unemployment rate, and that’s what we’ve seen the last few months.”

On the other hand, by any standard of history, openings remain extraordinarily high: In records dating to 2000, they had never topped 10 million in a month until last year.

Economist Daniel Zhao of the jobs website Glassdoor argued that a single-minded focus on the job market might be overdone. Regardless of what happens with jobs and wages, Zhao suggested, the Fed’s policymakers won’t likely let up on their rate-hike campaign until they see proof that they’re actually hitting their target.

“They want to see inflation slowing down,” he said.

Source: Voice of America

South Korea’s military appears to want to conscript members of the K-pop supergroup BTS for mandatory military duties, as the public remains sharply divided over whether they should be given exemptions.

Lee Ki Sik, commissioner of the Military Manpower Administration, told lawmakers on Friday that it’s “desirable” for BTS members to fulfill their military duties to ensure fairness in the country’s military service.

Earlier this week, Defense Minister Lee Jong-sup made almost identical comments about BTS at a parliamentary committee meeting, and Culture Minister Park Bo Gyoon said his ministry would soon finalize its position on the issue.

Whether the band’s seven members must serve in the army is one of the hottest issues in South Korea because its oldest member, Jin, faces possible enlistment early next year after turning 30 in December.

Under South Korean law, all able-bodied men are required to perform 18-21 months of military service. But the law provides special exemptions for athletes, classical and traditional musicians, and ballet and other dancers who have won top prizes in certain competitions that enhance national prestige.

Without a revision of the law, the government can take steps to grant special exemptions. But past exemptions for people who performed well in non-designated competitions triggered serious debate about the fairness of the system.

Since the draft forces young men to suspend their professional careers or studies, the dodging of military duties or creation of exemptions is a highly sensitive issue.

In one recent survey, about 61% of respondents supported exemptions for entertainers such as BTS, while in another, about 54% said BTS members should serve in the military.

Several amendments of the conscription law that would pave the way for BTS members to be exempted have been introduced in the National Assembly, but haven’t been voted on with lawmakers sharply divided on the matter.

Lee, the defense minister, earlier said he had ordered officials to consider conducting a public survey to help determine whether to grant exemptions to BTS. But the Defense Ministry later said it would not carry out such a survey.

In August, Lee said if BTS members join the military, they would likely be allowed to continue practicing and to join other non-serving BTS members in overseas group tours.

People who are exempted from the draft are released from the military after three weeks of basic training. They are also required to perform 544 hours of volunteer work and continue serving in their professional fields for 34 months.

Source: Voice of America