• Toilet Paper may Shortage in Finland Cause by Energy Prices
    Toilet Paper may Shortage in Finland Cause by Energy Prices August 31, 2022
    Finnish paper company Metsa Tissue said soaring energy prices in Europe had led to a reduction in paper production in recent weeks. According to a report by the Finnish Broadcasting Corporation on the 26th, Metsa Tissue Paper warned that further shutdowns of production lines could lead to shortages of products such as toilet paper. Previously, the company's factories in Germany and Slovakia had temporarily shut down production due to a sharp rise in energy prices in Europe. Soaring energy costs in Europe are hampering the operations of paper companies, with Central and Eastern Europe being the hardest hit, said Jani Silampe, the company's Nordic marketing director. Electricity prices in Europe are at historically high levels, and now the Nordic countries, while slightly better, could also rise, he said. The company has a total of 9 paper mills in Europe. Although the production of paper mills in central and southern Finland has not been affected for the time being, many toilet paper and kitchen paper are not produced locally and need to be exported from Central Europe to Finland. The price of toilet paper has risen, and the cost may be passed on to consumers.
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  •     Three central bank governors express the ultra-low inflation is gone forever
    Three central bank governors express the ultra-low inflation is gone forever June 30, 2022
    On Wednesday, June 29, Federal Reserve Chairman Powell, European Central Bank President Christine Lagarde, and Bank of England Governor Bailey gathered at the European Central Bank's annual monetary policy forum in Sintra, Portugal, and unanimously stated that curbing inflation is the top priority at this stage. They said in unison that curbing inflation is the top priority during this period, and a larger rate hike in the summer meeting is not ruled out. Fed Powell said that the U.S. economy can cope with this tightening policy , and the purpose of rapid rate hikes is to slow growth and balance supply and demand, but also admitted that a soft landing cannot be guaranteed. The Bank of England's Bailey said stronger action could be taken if there were signs that continued price increases were a problem. ECB Lagarde also said she was ready to take decisive action if necessary. Powell said that there is no guarantee of a soft landing in the US, the Fed will not allow transition from low to high inflation environment.Powell reiterated his long-standing view that the U.S. economy is strong enough to deal with tightening monetary policy, households and businesses are financially healthy and the labor market is very strong and a recession should be avoided. Bank of England Bailey indicate that will not rule out raising interest rates by 50 basis points at the next meeting, the primary goal is to bring inflation back to low levels. And he also said that the Bank of England could choose to take stronger action on inflation, not ruling out a 50 basis point rate hike at a policy meeting in a month's time, provided that if there are persistent signs that price increases are a question. ECB Lagarde: The era of ultra-low inflation before the epidemic will not return, if necessary, be ready to take decisive action. And the main remarks of European Central Bank President Lagarde's  today are warning that the era of ultra-low inflation before the epidemic is unlikely to return, and we can't go back. She echoed Bailey's assertion that the energy shock had a significant impact on inflation, and suggested that central banks adjust to significantly higher price growth expectations.
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  • Opening press conference of the 129th Canton Fair
    Opening press conference of the 129th Canton Fair April 15, 2021
    On the morning of April 14, the opening press conference of the 129th China Import and Export Fair was held in the exhibition hall of Guangzhou Canton Fair. Xu Bing, spokesman of the Canton Fair and deputy director of the China Foreign Trade Center, briefed the media at home and abroad on the characteristics, highlights and overall preparations of the Canton Fair. The novel coronavirus pneumonia epidemic in 2020 not occur even in a hundred years, Xu Bing said. The international trade and economic exchanges have been seriously affected. In order to promote epidemic prevention and control and economic and social development as a whole, the 127th and 128th Canton Fair were successfully held on the Internet. About 26000 Chinese and foreign enterprises participated in the fair online, and purchasers from more than 220 countries and regions registered for exhibition and negotiation. They maintained the trade exchanges between Chinese and foreign enterprises, and made positive contributions to stabilizing the foreign trade and supply chain. Considering that the current global epidemic situation is not clear, "foreign import prevention and domestic rebound prevention" is still the top priority. With the approval of the State Council, the 129th Canton Fair will continue to be held online from April 15 to 24.
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