Week 39 of 2022 – YPF Around the Globe (English)

Timeframe: September 23 to September 29, 2022

Contributors: Affan Bin Saber, Anika Bushra, and Mansib Khan

To read Bangla, click here.

1. Politics

Shinzo Abe: A divided Japan bids farewell to its ex-PM

The 67-year-old politician was assassinated in July – shot twice by a homemade gun. The killing shocked a country unused to gun crimes or political violence, triggering an outpouring of grief for a leader who had never been that popular.

Abe was widely admired abroad, but he was a divisive figure at home. Many of the protesters outside parliament were furious about the $10.7m (1.6bn yen; £10m) cost of the funeral. Others simply said Abe did not deserve the rare honor of a state funeral.

Many of those who oppose the funeral – and Abe’s political legacy – are older Japanese. In a country traumatized by war, the older generation has long favored a “pacifist” constitution that has kept Japan from heavily investing in its military.

Source: BBC

2. Economics & Business

British Pound Touches Record Low as Investors Balk at Government’s Tax Plans

The British currency briefly reached a low point against the U.S. dollar, and statements from the government and central bank did little to steady the markets.

Extending its losses after a historically bad day on Friday, when the tax plan was announced, the British currency plunged as low as $1.035 in the early hours of Monday morning, before recovering in the afternoon.

Source: NYT

RMG sector preparing for the future

The RMG (readymade garments) sector has a very high potential to contribute to the economic growth of Bangladesh as mentioned by Bangladesh Garment Manufacturers and Exporters Association (BGMEA) vice-president, Shahidullah Azim.

He also mentioned that the industry is focusing more on innovation, diversification skill development, and upgraded machinery to have an edge on future competitiveness The industry is focusing on diversifying products, especially man-made fiber-based products as part of its strategy of shifting from volume to value and quantity to quality, he said.

He also briefed the participants about the strategic vision of BGMEA that aims to accelerate the growth of the RMG industry in a sustainable manner.

Source: Prothom Alo

3.  Science & Technology

Saudi Arabia buys pair of SpaceX astronaut seats from Axiom

Saudi Arabia plans on being the latest gulf nation to strengthen ties with private US space companies by planning to launch a pair of astronauts to International Space Station via a SpaceX space capsule.

Sources say that the deal was signed privately earlier this year in Axiom Space located in Houston. According to the deal, two astronauts will aboard SpaceX’s Crew Dragon early next year for a weeklong stay. They will be the first from their country to go into space by a foreign aircraft. The value of these seats is not known but is estimated at around $55 million based on previous missions.

The astronauts will be joined by two other US astronauts and race car driver and investor John Shoffner along side retired NASA astronaut Peggy Whitson. The mission is called AX-2 and now awaiting approval.

Source: CNN

4. Environment

Climate change: Spike in Amazon emissions linked to law enforcement

According to a study, carbon emissions in the Amazon doubled between 2019 and 2020. The increase in emissions was due to deforestation, degradation, and the human destruction of the forest. The researchers found that with rapid deforestation, prosecutions by law enforcers were also reducing.

In turn, the deterioration of law enforcement made way for land grabbers and illegal loggers to operate, which is harmful to the ecosystem. Moreover, the researchers said that Amazon would degrade at an irreversible rate and soon become dry with rapid waves of wildfires. Hence, the Amazon which was once considered a carbon sink would produce more carbon.

The issues relating to the forest would play a crucial role in the upcoming October presidential election. The researchers emphasized the importance of the role of consumers and governments in preventing this catastrophic event from occurring.

Source: BBC

Disclaimer: The information provided here is obtained solely from the aforementioned third parties. Youth Policy Forum (YPF) is not responsible for any misinformation or misrepresentation.

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