Tariffs on Imports From China

Recently, President Donald Trump decided to impose tariffs on about $50 billion worth of imports from China – This is when the trading war between U.S. and China started and escalated. The white house claimed this new restriction is executed in response to Beijing’s longstanding theft of US companies’ intellectual property.

Asian stocks struggled since Tuesday, June 19, 2018. The marketing is being kept dragging down for the past 2 weeks by the fears that China and Trump administration would plunging deeper into the trading competition with no easy way to exit.

At the meanwhile, Wall Street had its worst day of the month one day after the slump in Asia market. The US market slide more than 475 points (2 percent).

An additional tariff on $34 billion worth of Chinese products are scheduled to carry out on July 6. This policy spiked Chinese central bank to pump more than $100 billion to the financial system of the country. This policy was a signal that China is responding to an economic slowdown but also bracing for a possible long-haul trade fight with the Trump government.

Ahn Deuk-geun, an international trade expert at Seoul National University’s Graduate School of International Studies, said the recent decline in Asian stocks “shows the impact of escalating trade war between China and the U.S.”

“Even amid relieved geopolitical tensions following North Korea rapprochement,” Ahn said, “the jitters about the China trade tensions seem to have an overpowering impact on the markets.”

Source:

https://www.washingtonpost.com/world/asia_pacific/asian-markets-slump-again-amid-deepening-china-u-s-trade-war-fears/2018/06/25/cad47f0c-78e5-11e8-93cc-6d3beccdd7a3_story.html?utm_term=.f54abd50133d

 

First Female African American Brigadier General for the Marine Corps

Col. Lorna Mahlock has been nominated to become the first female African American Brigadier General for the United States Marine Corps. She is a graduate of Marquette University, the US Army War College and Naval Postgraduate School. At the age of 49 she has already served over 30 years of service and has contributed to the ensured safety of hundreds of her fellow marines with air tactical support as a company commander, operations officer and commanding officer. Mahlock enlisted in the marine corps in 1985, following which she was commissioned as an air traffic control officer in 1991. Col. Mahlock provided deployment support in Iraq three times with Marine Tactical Air Command Squadron 38, first as a company commander from November 2002 to May 2003, after which she was promoted to operations officer when she served her on her second tour from February 2004 to May 2004. Her last tour started January 2008 and concluded a year afterwards; during this tour Mahlock served as a commanding officer. Over her 33 years in the united states military Col. Mahlock has received thirteen medals and the sea service deployment weapon.

The marine corps is the smallest of the four military services and has the lowest percentage of female members. According to marine corps community services, woman make up only 8% of the Marine Corps total personnel. Col. Mahlock if sworn in will be just one of 100 women in the U.S. Marine Corps that holds a position once unavailable to her gender. Mahlock previously was stationed in Okinawa, Japan, where she was charged with overseeing 1,300 military and civilian and $250 million in military equipment in support of U.S. interests in the Asia-Pacific region. Prior to Mahlock there had never been a female African American general in the marine corps however, the first African American general to serve in marine corps history was marine aviator Frank E. Petersen Jr. He was chosen as a second lieutenant in October 1952 after completing flight training. Twenty-seven years later in 1979, he was promoted to brigadier general, according to marine corps university. Col. Mahlock’s next assignment will be later announced if she is confirmed by the senate, but while her processing continues, she will continue to inspire those who never thought possible obtaining general position as an African American woman.

Source:

http://www.businessinsider.com/lorna-mahlock-marine-corps-first-black-woman-general-2018-4https://www.iiimef.marines.mil/News/News-Article-Display/Article/705814/female-marines-discuss-womens-history-month/

Small Business Contracts exceeds $100 Billion

Last month, the Small Business Administration released its scorecard for fiscal year 2017. Among the news was that small business contracts have exceeded $100 billion dollars for the first time ever. This milestone stems from surpassed expectations: the federal government has a small business contracting goal that 23% of government-wide contracting spending comes from small businesses, and the federal government has exceeded its goal for the last five years in a row.

Unfortunately, the federal government did miss its goals for government-wide prime contracting for women-owned small businesses, as the government aimed for 5% but only hit 4.71%. Likewise, the federal government also missed its prime and subcontracting for Historically Underutilized Business Zones.

However, small business contracts exceeding $100 billion is an exciting milestone. The scorecard also revealed the eight agencies with the highest mark of an A-plus: The Department of Homeland Security, the Department of Commerce, the Department of Labor, the Department of the Interior, the Department of Housing and Urban Development, the Office of Personnel Management, the Nuclear Regulatory Commission, and the SBA. The A-plus grade reflects the agencies’ “significant efforts” toward meeting the 23% small business contracting goal. Going into next year, the SBA hopes to reach out to small business tech. Of course, higher numbers and surpassed goals are expected for fiscal year 2018 again.

Small business owners usually handle all their current work by themselves, although outsourcing some work proved to be effective. Xero Bookkeepers can cover all that relates to your business’ accounts. And you will have more time to develop your business.

Source:

https://federalnewsradio.com/agency-oversight/2018/05/sba-scorecard-small-business-contracts

 

Innovations Shaping The Future of Transportation

Transportation is the heart of every individual’s daily life, whether you are commuting to and from work or traveling on vacation. As years pass we are becoming more and more efficient in the way we transport ourselves from one place to another. In the 1800’s we were using horses to go from place to place. A century later we had developed the steam engine and were using trains along with many other vehicles. What the future has in store for us is startling for some but, exciting for others. In the past the hurdle has been getting airplanes to be able to have vertical take off and landings which we are moving closer and closer to with each passing day through the innovation of aircraft design.

Flying cars use to be a fascinating idea however, recently this has begun materializing. Close to 15 startups have begun putting significant amounts of money into the idea along with several large corporations such as Airbus, Boeing and Toyota. Not only is the U.S. a flag bearer in leading the effort but, there are also several companies based out of Europe involved in the effort. Large investors are also showing interest in revolutionizing the emergency healthcare industry and also the delivery business. This innovative technology will also address the population growth concerns and issues with traffic.  Overall, flying cars are something we could see as soon as 10-15 years. In the near future it will also become a major investment opportunity as some have already began taking advantage of the opportunity. An old quote, “necessity is the mother of invention” is apt for this situation as the World Health Organization expects “7 out of 10 people to be living in cities by 2050”. This means that cities will have to rethink their transportation systems and flying cars is something they will definitely have on their radar. The most exciting thing regarding this development is that today we are talking about advancements in transportation, tomorrow we could be talking about other technological advancement in society.

Another great development in the transportation industry is the introduction of connected vehicles. Connected technology is based on wireless communication and is like an ecosystem within its self. It pairs the vehicles with all of its surroundings which include infrastructure, vehicles, pedestrians. The introduction of this technology really puts an emphasis and highlights the importance of safety, it alerts the driver of the vehicle of his surroundings and informs the driver of dangerous situations. Soon this technology will be implemented in road work areas and intersections that are notorious for accidents which will serve as a preventive measure. The most exciting thing about this development is that the technology is ready and now its just a matter of implementing it. Very similar to the flying cars the connected vehicles are faced with the hurdle of government intervention, when the government gets on board this is a technology that will change the way modern day transportation is thought of.

The final exciting development in transportation industry is the spread of electric vehicles. Electric vehicles have been around for a while now however, they haven’t made leaps into people’s daily lives until now. Electric vehicles are something we will get use to seeing more often now. This initiative is beneficial both environmentally and economically.  The use of clean energy in the form of electric vehicles addresses climate change concerns and provides a renewable source of energy whereas, it also provides an investment opportunity for people interested in emerging technologies. The state of Oregon is recently one of the biggest players in U.S., Oregon recently introduced an electric highway which gives access to charging stations along the highway. Oregon is also pushing private businesses to include stations as well so it becomes a more viable option for residents. With states like Oregon pushing this initiative we will begin to see more and more electric vehicles on our roads.

In summary, the future of transportation looks very bright. Three bright innovative ideas will be able to change the way people commute on a daily basis. The advent of flying cars will free us from traffic jams and make the commute much smoother. Connected technology is another step that will make travelling much safer for everyone. Through the use of wireless technology drivers will have access to pretty much everything around them and know how much of a threat they are. Finally, an energy source that has been around for a while is becoming more and more accessible to everyone. Highways are now being filled with charging stations. In a few years we can expect as a society for these technologies to take over and be integrated into society fully.

 

Sources:

money.cnn.com/gallery/technology/2018/05/15/transportation-technologies/index.html

techcrunch.com/2017/11/08/are-flying-cars-the-future-of-transportation-or-an-inflated-expectation

www.questsolution.com/blog/item/57-how-technology-is-changing-the-transportation-and-logistics-industry

 

The EU’s GDPR and Privacy Policy Changes

In the last few weeks, many companies have been sending out emails with the following message: “We’ve updated our privacy policy.”

The reason for the abundance of such messages is the General Data Protection Regulation, also known as the GDPR. In 2016, the European Union enacted the GDPR, a sweeping data-protection law, but the EU included a two-year grace period for companies to reach compliance. Now, two years later on May 25, 2018 the EU has begun to enforce their privacy law.

What does the GDPR actually do? The GDPR is forcing companies—everybody from multinationals to small restaurants—to list how they gather and process personal data and to give individuals new or expanded rights to their data. For example, companies need to delete data as soon as it is no longer needed, and individuals will have the right to see, correct, or delete personal information about themselves. What are the consequences of not complying with the GDPR? Companies will lose 4% of their global revenue or $23.4 million, whichever is larger. While the GDPR is exclusive to the EU, because any data that involve individuals in the EU is supposed to be protected, even companies that are not located in Europe have opted to make global changes to their privacy policies.

Even with the two-year grace period, many companies have struggled to reach full compliance by May 25. According to a Capgemini SE survey of 1,000 businesses in March and April, only half of businesses said they were even “largely compliant” at that time; new surveys also suggest 60-85% of companies did not expect to be compliant by May 25. Similarly, companies have been citing heavy expenditures to make the deadline.

Privacy advocates have given the GDPR widespread approval; at the same time, others are wary of what seems like excessive regulation. The law has certainly inspired new discussion about privacy and data, but as to whether it will inspire other countries to enact similar changes is unknown.

Sources:

https://www.wsj.com/articles/5-questions-about-what-to-expect-when-gdpr-takes-effect-1527154200

https://www.wsj.com/articles/gdpr-has-companies-big-and-small-racing-to-comply-1527154200?mod=article_inline