Written by Kayli Jamieson, SFU Student
Mangkhut typhoon battered the Philippines and Hong Kong
Mangkhut, the super typhoon formed in the Western Pacific, recently ravaged the northern Philippines.
The mid-September typhoon, which according to statistics reported on CNN News is the most powerful storm in the world this year, first consumed the northern Philippines on its path to southern China, killing approximately 127 people and counting with winds that reached over 240 kilometres per hour. Almost three million people were affected by its direct hit, and another 11 million have been affected by the subsequent flooding.
Its strength was compared to that of a category five hurricane, uprooting trees and tearing apart buildings. There were reportedly four deaths in China, and long-term damage to infrastructure.
Over 889 delays and cancellations at the Hong Kong International Airport were also incurred as a result.
NAFTA deadline looms, negotiations drag on
The October 1 deadline for the North American Free Trade Agreement (NAFTA) is approaching rapidly, as negotiations between the United States and Canada drag on.
U.S. President Donald Trump has threatened numerous times to exclude Canada on the basis of what he deems to be unfair trade terms. Trump has instead proposed an alternative two-nation deal with Mexico.
The issues prolonging the current NAFTA negotiation between the two nations revolve around the Canadian tariffs on U.S. dairy products, and the proposed time-limit on the agreement. In terms of the time-limit, the U.S. wishes to have the agreement last only five years, whereas Canada wants at least a ten-year agreement.
Trump additionally refuses to recognize and acknowledge that the United States has a trade surplus with Canada. Whether the negotiations reach an impasse and Trump forges on with a two-nation deal remains to be seen.
Pound drops significantly after Theresa May’s statement
Negotiations between the European Union (EU) and the UK regarding the Brexit agreement are still ongoing. The pound declined after EU leaders asserted the need for UK to make “compromises” on the Brexit trade deals.
With UK Prime Minister Theresa May stating “no deal is better than a bad deal,” hopes of a faster finalization of the Brexit deal have been lost, leading the pound to drop one percent to 1.5% lower. As of September 27, the sterling stood at $1.3068 against the U.S. dollar.
May also used the term “impasse” to describe the current state between the UK and EU.
The comment is indicative how both sides are nowhere close to reaching an agreement that is satisfactory in a possible post-Brexit world.
Post-bailout Greece witnesses increased unemployment in young adults
After the European Union (EU) bailed out a bankrupt Greece, the nation was forced to cut government spending as a condition. These cuts to government spending have worsened unemployment in youth and further decreased job availability.
Due to austerity programs, the country is restricted in its economic growth and social programs. This has resulted in large-scale unemployment, especially among young adults.
Greeks in their mid-to-late twenties are emigrating out of the country in search of better job prospects. With the unemployment rate at almost 58% for those under 25, the future looks bleak for Greek youths.
Even in 2017, around four in 10 young Greeks were jobless.
With files from BBC News.