EP-276 | Daily Global Insights | Nov 10, 2021 | Daily News and Analysis with Sri and Sree

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Namaskar and welcome to Daily Global Insights Episode 276. Wednesday, November the 10th and here are the main points of discussion.

• Mr. Xi Jinping says that China is Prepared to work with US on Condition of Mutual Respect

• Members of APEC including US and China held a Virtual Summit on Tuesday leading up to the Friday Summit, pledging to expand Vaccine Supply and step up the resumption of Travel.

• Governments around the world should not attempt a one-size-fits-all policy for clean energy transitions, said Amin Nasser, the President and CEO of Saudi Aramco. A similar plea was made by Indian PM Modi at the Climate Summit in Glasgow

• China will finance the construction of an outpost for a special forces’ unit of Tajikistan’s police near the Tajik Afghan border. The location adjacent to Chinese Xinjiang Province will not have any Chinese Forces.

• Afghan Humanitarian Crisis Dominates Discussions between NSA Ajit Doval and his Uzbek and Tajik Counterparts. US Envoy for Afghanistan Thomas West to Visit India as part of his ongoing trip

• Chinese military aircraft sent to intercept a U.S. spy plane nearing China’s airspace on Monday morning (Nov. 8) reportedly breached Taiwan’s air defense identification zone (ADIZ). Further 20 Chinese Airplanes Enter Taiwan’s ADIZ in less than 24 hours

• On Tuesday evening News broke out that a US Navy C40-A plane carrying US Congressional Senators had taken off from Clark Air Base, Philippines and landed at Taipei Seongsan Airport, bringing Condemnation from Beijing

• The U.S. Coast Guard (USCG) recently released images of a fleet of four ships of China’s “People’s Liberation Army Navy” (PLAN) sailing near a U.S. Exclusive Economic Zone (EEZ) near Alaska’s Aleutian Islands. This comes at a time when China itself opposes any such activity around its own land or seas.

• India and Israel signed a deal to jointly develop next generation technologies and products such as Drones, Robotics, Artificial Intelligence and Quantum Computing

• India sets new benchmarks as it continues its economic agenda, Achieve Services Exports Target of $1Trillion by 2030, Achieve 50% Clean Energy Share by 2030 From Renewable Sources, Reduce Power Supply Deficit from 17% in 2007-08 to Surplus, $4.4T GDP by 2026 to reach the $5T milestone by 2027.

• Biden’s Budget Bill, Build Back Better (BBB) America estimated to Cross $2.4T and not $1.75Trillion

• Biden Administration Sends Notices to Appear To tens of Thousands of Illegal Immigrants Inside the US

• Rep Ilhan Omar doubts whether the Biden Mega Bill will be taken up for Discussion during the week of November 15th

• The White House has no plans to shut down a disputed Great Lakes pipeline that brings some 500,000 barrels of crude oil from Canada into the U.S. each day, per spokeswoman. Michigan Gov. Gretchen Whitmer ordered the Line 5 pipeline to be shut down last year.
• Putin behind the Poland – Belarus Illegal Immigrant Border Crisis says Polish PM

MARKETS

• Wholesale prices surged 8.6% relative to October 2020 numbers, highest year over year number recorded

• Fed President Bullard expects Two Rate Hikes in 2022 with rising inflation

• Market Futures are Lower ahead of Inflation Data