International News 18/12
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Weak Consumption Pressures China's Economy Amid Trump's Tariff Threats
China's industrial output saw a modest increase in November, while retail sales fell short of expectations, prompting concerns about the need for more consumer-focused stimulus measures. As the threat of new trade tariffs from the US looms, policymakers are facing significant challenges in driving a sustained economic recovery. The potential deterioration of trade relations with the US, coupled with weak domestic consumption, presents an additional challenge. US President Donald Trump has indicated that he will impose tariffs of over 60% on Chinese goods, which could prompt Beijing to accelerate its plans to transition from an investment and export-based economy to a consumption-based one. In November, China's industrial output increased by 5.4% year-on-year, representing a slight acceleration from the 5.3% growth observed in October. However, retail sales growth slowed to 3.0%, the lowest rate in three months, indicating a deceleration in consumer spending.
Novo Nordisk is investing US$1.2 billion to produce rare disease drugs.
Novo Nordisk, a Danish pharmaceutical company, has announced plans to invest 8.5 billion Danish crowns (approximately $1.2 billion) in a new facility in Odense, Denmark. The facility will specialise in the production of pharmaceuticals for the treatment of rare diseases, including haemophilia. The site will comprise warehouses and factories and has been designed with modular and flexible facilities to accommodate different types of products for rare diseases. Construction has already commenced and is scheduled for completion in 2027.
This investment demonstrates Novo Nordisk's dedication to the advancement of medicines for rare diseases, reflecting the increasing demand for treatments in this field. The pharmaceutical company is pursuing an expansion of its capabilities with the objective of improving the quality of life for patients with rare diseases. Further details regarding the company's plans and developments will be provided in the subsequent section
Japan Discovers Treasure Worth IDR 421.3 Trillion, Future of Sakura Country Bright!
The recent discovery of substantial manganese deposits containing cobalt and nickel on the seabed in proximity to Minami-Tori-shima Island in Japan has the potential to exert a considerable influence on the economic landscape. With an estimated value of $26.3 billion, these deposits are an important resource for the production of electric vehicle (EV) batteries. The research, conducted by The Nippon Foundation and the University of Tokyo, revealed the presence of a layer of manganese nodules located approximately 5,700 meters below sea level. It is thought that this layer contains significant quantities of cobalt and nickel, both of which are essential raw materials for EV batteries that are in high demand. The site contains 610,000 metric tonnes of cobalt and 740,000 metric tonnes of nickel, with a combined value of $26.3 billion. This represents a significant opportunity for the Japanese economy. The total value of these metals is a staggering $14.8 billion and $11.4 billion respectively. The potential impact of this discovery on the Japanese economy is considerable. The most effective way to access these valuable resources is through deep-sea mining.