What are we reading? August 9, 2018

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Each week, BIV staff will share with you some of the interesting stories we have found from around the web.

Timothy Renshaw, managing editor:

Next up on the energy menu: ‘vegan’ electricity. - Power Technology

https://www.power-technology.com/comment/ecotricity-vegan-electricity/

 

With a second course of wind and solar power, the world has now reached a milestone one terawatt capacity. - BusinessGreen

https://www.businessgreen.com/bg/news/3037104/the-world-now-has-more-than-one-terawatt-of-wind-and-solar?utm

 

Mark Falkenberg, deputy managing editor:

One map shows why Trump's trade war with China could be a disaster for average Americans. – Business Insider

https://www.businessinsider.com/trump-china-tariff-trade-war-states-with-most-imports-from-china-2018-8

 

Nelson Bennett, reporter:

Trump’s tariff tiff triggers terminations. One of the first casualties in Donald Trump’s tariff war with China is an electronics company in South Carolina, which is laying off 126 workers. - CNN Money

https://money.cnn.com/2018/08/08/news/companies/tariff-job-cuts

 

A cure worse than the disease? Averting climate change catastrophe has scientists seriously investing geoengineering to cool the climate. But one approach – replicating the cooling that occurs naturally from a massive volcanic eruption – could have some serious impacts on agriculture. - The Atlantic

https://www.theatlantic.com/science/archive/2018/08/solar-geo-engineering-cant-save-the-worlds-crops/567017

 

“Canada’s democratic government will likely be here long after MBS falls from power, and the anachronistic House of Saud as well.” An interesting and informative piece on Saudi Arabia, the Machiavellian Prince Mohammed bin Salman, his aggressive attempts at social and economic reform, and the risky political game he is playing. - Daily Oil Bulletin

http://www.dailyoilbulletin.com/article/2018/8/9/analysis-canadian-pawn-takes-king-in-saudi-game-of

 

Carrie Schmidt, editorial researcher:

Tokyo medical school admits changing results to exclude women.

“I ignored my parents, who said women don’t belong in academia, and got into the best university in Japan. But in job interviews I’m told ‘If you were a man, we’d hire you right away.’ My enemy wasn’t my parents, but all society itself.”- The Guardian

https://www.theguardian.com/world/2018/aug/08/tokyo-medical-school-admits-changing-results-to-exclude-women

 

Glen Korstrom, reporter:

Here’s an interesting look at the Chinese government’s increasing acceptance of tourism, both welcoming travellers from abroad and allowing more Chinese to travel internationally. It also notes how the government sometimes uses restrictions on tourism as a political sanction. – Travel Weekly

https://www.travelweekly.com/Asia-Travel/China-tourism-takeover

 

Hayley Woodin, reporter:

A giant shipment of U.S. soya beans has been circling off the coast of China for more than a month. Even at $12,500 a day, it makes some financial sense to keep the goods at sea – they face a 25% tariff if they come to shore. - The Guardian

https://www.theguardian.com/business/2018/aug/08/giant-shipload-of-soybeans-drifts-off-china-victim-of-trade-war-with-us

 

Here’s another implication of the U.S.-China trade dispute: fish caught in the U.S. and shipped to China for processing could face U.S. tariffs when they re-enter America. If President Trump’s latest tariffs move ahead, this would apply to $900 million worth of seafood. - The Wall Street Journal [May be behind a paywall]

https://www.wsj.com/articles/u-s-seafood-industry-vulnerable-to-tariffs-aimed-at-china-1533812400?mod=hp_lista_pos2

 

Albert Van Santvoort, reporter:

The International Monetary Fund (IMF) is reevaluating its thoughts on the Euro. This story highlights how the IMF came to realize the inherent problems with a currency union not backed by political or treasury unions. The story cites a report that describes how Greece’s austerity measures exacerbated the economic problems rather than fixing them. -The Telegraph

https://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/

 

Greece is not the only European economy that has seen negative economic effects from its austerity policy. The New York Times reports how Portugal is experiencing an economic revival after defying critics and doing away with deficit reduction and austerity policies. By discarding cost cutting policies the country was able to boost its economic growth to 2.7%. - The New York Times

https://www.nytimes.com/2018/07/22/business/portugal-economy-austerity.html

 

Many have pointed to the U.S.’s second quarter GDP growth as evidence of a strong economy. However a deeper look into the numbers dispels this notion. This washington post piece does a deep dive into the U.S.’s economic numbers and finds that consumer debt among the poorest is fueling growth. -The Washington Post

https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2018/07/27/the-finance-202-the-trump-economy-may-seem-strong-but-not-that-strong/5b59f4f81b326b1e64695572/?noredirect=on&utm_term=.52a15e032025