Guestbook

Barryginny

23 Jul 2025 - 10:30 pm

Job losses
But what about the impact of tariffs on job creation? Surprisingly, an increase in import taxes has been found to result in slightly more unemployment across countries.
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An example provided by Irwin at Dartmouth College points to one plausible explanation — and it has to do with the steeper cost of imported goods.

“A number of studies have shown, on net, we lost jobs from the (2018) steel tariffs rather than gained jobs because there are more people employed in the downstream user industries than in the steel industry itself,” he said.
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A study by the Federal Reserve Board found that a rise in input costs resulting from US tariff hikes in 2018-19 led to job losses in American manufacturing. The damage from those higher expenses was compounded by retaliatory taxes on US exports, more than offsetting a small boost to manufacturing employment from US tariffs — at least so far, the 2024 paper said.

Retaliation by other countries is indeed another danger of pulling the tariff lever. Higher tariffs on American exports would typically raise their prices for foreign consumers, hitting demand for the goods in many cases.

When Trump announced new tariffs this year, America’s major trading partners were quick to strike back with their own levies, although the US then agreed a temporary truce with China and the European Union.

Costs of free trade
While economists generally agree that free trade has benefited the global economy in recent decades, they acknowledge that it comes with certain costs.

One is the loss of jobs in communities that are particularly exposed to new competition from foreign manufacturers.

That is similar to the impact of technological progress on workers. “Manufacturing jobs as a share of the labor force have come down everywhere. It isn’t a US-specific story,” said Gimber at JPMorgan Asset Management, pointing to automation.

He drew a parallel between helping workers affected by higher imports and what is known as a just transition — the idea that the drastic changes needed to move toward a greener economy should be fair to everyone and minimize harm to workers and communities.

In both cases, providing workers in impacted industries with new skills or retraining them could be key, Gimber said.

Another potential cost of free trade is dependency on far-flung manufacturers. That took on new relevance during the pandemic, which snarled global supply chains, contributing to shortages of products such as face masks and respirators in the US and elsewhere.

However, economists do not typically see tariffs as a good way to build up domestic manufacturing, Fatas at INSEAD said, noting that subsidies for specific industries are viewed as a better tool “because they work more directly.”

But perhaps the strongest argument in favor of free trade is its importance to maintaining peace between nations.

As Gimber’s colleague David Kelly noted in March, closer trade relations give countries more to lose in any conflict.

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Victorlob

23 Jul 2025 - 09:18 pm

Rescuers are hailing as a “four-legged hero” a furry Chihuahua whose pacing atop an Alpine rock helped a helicopter crew find its owner, who had fallen into a crevasse on a Swiss glacier nearby.
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The man, who was not identified, was exploring the Fee Glacier in southern Switzerland on Friday when he broke through a snow bridge and fell nearly 8 meters (about 26 feet), according to Air Zermatt, a rescue, training and transport company.

Equipped with a walkie-talkie, the man connected with a person nearby who relayed the accident to emergency services. But the exact location was unknown. After about a half-hour search, the pacing pooch caught the eye of a rescue team member.
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As the crew zeroed on the Chihuahua, the hole the man fell into became more visible. Rescuers rappelled down, rescued the man and flew him and his canine companion to a hospital.

“Imagine if the dog wasn’t there,” Air Zermatt spokesman Bruno Kalbermatten said by phone. “I have no idea what would happen to this guy. I think he wouldn’t survive this fall into the crevasse.”

On its website, the company was effusive: “The dog is a four-legged hero who may have saved his master’s life in a life-threatening situation.”

Josephresty

23 Jul 2025 - 08:10 pm

The latest Barbie slays in a chic blue polka-dot crop top, ruffled miniskirt, chunky heels and an insulin pump. She is the brand’s first doll with type 1 diabetes.
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Dollmaker Mattel worked with Breakthrough T1D, formerly known the Juvenile Diabetes Research Foundation, to design the doll, which aims to represent the roughly 304,000 kids and teens living with type 1 diabetes in the United States.
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The doll launched Tuesday at the Breakthrough T1D Children’s Congress, a three-day event in Washington that brings in kids and teens living with the condition to meet with lawmakers. This year, they’re asking Congress to renew funding for the Special Diabetes Program, which was first allocated by Congress in 1997. The program’s current funding ends after September.

The advocacy efforts have taken on new urgency this year. With so many deep cuts to federally funded projects in recent months, Breakthrough T1D said it’s anxiously watching to see if this funding will be reupped.

Type 1 diabetes is an autoimmune disease, meaning the body mistakenly attacks its own organs and tissues. In this case, rough antibodies go after cells in the pancreas that make insulin, an essential hormone that helps the body turn food into energy. As a result, the body doesn’t make enough of its own insulin, so people have to take insulin by injection or though a pump to survive.

Type 1 diabetes is typically diagnosed in childhood but can be diagnosed in anyone at any age. It differs from type 2 diabetes, in which people are still able to make insulin but their cells stop responding to it.

In addition to the insulin pump that attaches to the new Barbie’s waist, the chestnut-haired beauty has a continuous glucose monitor on her arm – a button held on by a strip of heart-shaped Barbie-pink tape. Her cell phone displays an app that shows her glucose readings. She also has a light blue purse to hold her supplies and snacks to help her manage her blood sugar throughout the day. It matches her shoes, of course.

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23 Jul 2025 - 06:13 pm

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Whilst Egypt’s summer heat increases its electricity demand, it could also offer a solution. The south of Egypt, where Scatec’s new project is breaking ground is “in the magic solar belt,” said Elgendy. According to the Global Solar Atlas, Egypt has the fourth-highest solar PV (photovoltaic) potential of any country.
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Historically, solar energy has been hampered by its intermittency — solar panels only work during the day and large-scale battery storage has been too expensive. However, falling battery prices, combined with the lower operational and installation costs of solar power means that projects that combine solar generation with battery storage, like Obelisk, could overcome this problem.

Because of its size and prime location, Obelisk, Elgendy said, “can demonstrate value for the rest of the region, for the rest of the world, that ‘solar plus batteries’ can take away this primary weakness.”
The cost of battery storage projects has dropped by 89% between 2010 and 2023, driven by growing production capacity, especially in China. This drop, Elgendy said, means that by 2027 solar plus battery plants will be “the cheapest form of (any kind of electricity) generation.” A report by the Global Solar Council said that the availability of energy storage is a “major driver for increased solar installations globally.” However, whilst global battery storage capacity hit 363 gigawatt hours (GWh) in 2024, Africa only has 1.6 GWh.

Whilst battery prices have dropped and solar is cheap to operate, these plants still need large investments to build, and the money can be hard to find, Elgendy said, adding that the “risk premium” of investing in the developing world means that these projects are more expensive to build in Africa. The continent attracted only 3% of global energy investments in 2024.

Obelisk will receive $479.1 million in funding from the European Bank for Reconstruction and Development, the African Development Bank, and British International Investment. The first 561 MW of solar power and the full battery capacity are due to be online in the first half of 2026, and reach the full 1.1 gigawatt capacity by the end of the year.

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23 Jul 2025 - 05:39 pm

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23 Jul 2025 - 05:12 pm

Job losses
But what about the impact of tariffs on job creation? Surprisingly, an increase in import taxes has been found to result in slightly more unemployment across countries.
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An example provided by Irwin at Dartmouth College points to one plausible explanation — and it has to do with the steeper cost of imported goods.

“A number of studies have shown, on net, we lost jobs from the (2018) steel tariffs rather than gained jobs because there are more people employed in the downstream user industries than in the steel industry itself,” he said.
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A study by the Federal Reserve Board found that a rise in input costs resulting from US tariff hikes in 2018-19 led to job losses in American manufacturing. The damage from those higher expenses was compounded by retaliatory taxes on US exports, more than offsetting a small boost to manufacturing employment from US tariffs — at least so far, the 2024 paper said.

Retaliation by other countries is indeed another danger of pulling the tariff lever. Higher tariffs on American exports would typically raise their prices for foreign consumers, hitting demand for the goods in many cases.

When Trump announced new tariffs this year, America’s major trading partners were quick to strike back with their own levies, although the US then agreed a temporary truce with China and the European Union.

Costs of free trade
While economists generally agree that free trade has benefited the global economy in recent decades, they acknowledge that it comes with certain costs.

One is the loss of jobs in communities that are particularly exposed to new competition from foreign manufacturers.

That is similar to the impact of technological progress on workers. “Manufacturing jobs as a share of the labor force have come down everywhere. It isn’t a US-specific story,” said Gimber at JPMorgan Asset Management, pointing to automation.

He drew a parallel between helping workers affected by higher imports and what is known as a just transition — the idea that the drastic changes needed to move toward a greener economy should be fair to everyone and minimize harm to workers and communities.

In both cases, providing workers in impacted industries with new skills or retraining them could be key, Gimber said.

Another potential cost of free trade is dependency on far-flung manufacturers. That took on new relevance during the pandemic, which snarled global supply chains, contributing to shortages of products such as face masks and respirators in the US and elsewhere.

However, economists do not typically see tariffs as a good way to build up domestic manufacturing, Fatas at INSEAD said, noting that subsidies for specific industries are viewed as a better tool “because they work more directly.”

But perhaps the strongest argument in favor of free trade is its importance to maintaining peace between nations.

As Gimber’s colleague David Kelly noted in March, closer trade relations give countries more to lose in any conflict.

Jamesinjus

23 Jul 2025 - 02:26 pm

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Right now, if you’d like to visit the Louvre and the Guggenheim in one day, you’d need to cross international borders.

But with Abu Dhabi’s long-awaited cultural district on Saadiyat Island nearing completion, by the end of the year, you’ll be able to walk between them.

The new cultural district will feature international outposts of the world-famous Louvre and Guggenheim museums, along with other institutions, including an immersive digital art space from teamLab and a natural history museum.

“Many places around the world have fantastic cultural institutions; many of them are much older than these. But I think the proximity of all of them is what makes this quite special,” says Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism in Abu Dhabi.
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The project is piloting a network of “cool paths,” which implement nature-based shading techniques, to allow visitors to navigate between the museums and cultural sites on foot, says Al Mubarak.

The multi-billion-dollar, 2.43 square kilometer museum complex is one of the largest cultural investments of its kind in the world, and its design — by “starchitects” like Jean Nouvel, Frank Gehry, and Norman Foster — is expected to be as much of an attraction as its artworks.
Dr Peter Magee, director of the Zayed National Museum, currently under construction, describes the district as “a constellation of stars” illuminating the region’s history, culture, and art.

The project broke ground in the mid-2000s and has not been without controversy. Human Rights Watch raised concerns about conditions for migrant workers, which were refuted by Abu Dhabi’s Tourism Development and Investment Company (TDIC), which was overseeing the project. Others have questioned whether the Unites Arab Emirates’ censorship laws are aligned with the values of the Louvre and Guggenheim.

But Abu Dhabi will be hoping the complex, which will have more than 1.7 million square feet of space across its five main institutions, will become a world-renowned tourist destination in the same way as Hong Kong’s 98-acre (40-hectare) West Kowloon Cultural District and Berlin’s 21-acre (8.6-hectare) “Museum Island.”

As several of the museums prepare to open later this year, take a look at what to do in Saadiyat Cultural District.
Abu Dhabi’s science-focused museum explores the 13.8-billion-year story of our universe, complete with a research center. When it opens later this year, the 35,000-square-meter (377,000-square-foot) museum will be the largest of its kind in the region.

Its star attraction is Stan, the world’s most complete Tyrannosaurus rex skeleton, which was purchased for $31.8 million in 2020. The 67-million-year-old fossil will be on display alongside the Murchison meteorite, which crash-landed in Australia in the 1960s and contains organic compounds never identified on Earth, as well as “pre-solar grains” formed before our own sun, and to date, the oldest material discovered on Earth.

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