WORLD PANORAMA : Dec 15, 2019
1. BRITAIN ELECTIONS
• Boris Johnson secured a major victory in Britain general elections. The country has 650 parliamentary seats of which 365 were secured by Johnsons c9nservative party. The biggest election win since “Margaret Thatcher” in 1987
• Meanwhile, opposition Labour party captured just 103 seats.
• The result means that deadlock in British politics over BREXIT deal will come to an end with PM Johnson almost certainly going to deliver his pledge of taking Britain out of the European Union by 31 January or sooner.
• The conservative party also snatched traditional stronghold of Labour party at dozens of seats.
• Opposition Labour party had to face its worst results since 1935.
• The Pound jumped by 2% against dollar on the hopes that johnson would deliver on his promises to get the BREXIT done.
• Johnson inherited a minority govt from his predecessor Theresa may who lost the majority in a miss calculated decision to call a snap elections in 2017 in a bid for a mandate to proceed with BREXIT.
• Johnson now have just 11 months to agree to a new partnership with EU before a post brexit transition period ends in Dec 2020.
2. US-CHINA TRADE NEGOTIATIONS
• US-China negotiators have agreed in principle to an initial phase one trade deal cooling tensions between the two giants.
• The deal will see 360 Billions of USD in tariff removed in exchange for Chinese purchase of American farm goods.
• The deal will also delay another round of US tariffs scheduled to take place soon.
• Global stocks popped up on the news hoping for continuing softening of the attitude between two countries.
• After year and a half of fraught negotiations a preliminary trade agreement will prove to be a breakthrough.
• If tariffs had gone ahead Chinese good will become more expensive for US customers just ahead of Christmas.
• Phase two of the negotiations will depend upon the phase one implementation.
• US imports 550 Billion USD worth of goods from the asian giant.
3. WORLD'S YOUNGEST PM
• Finland’s president has chosen Sanna Marin as the countries new PM, making the 34 years old as the worlds youngest sitting head of the govt.
• The 200 seat parliament approved Marin in 99-70 vote the govt. has a comfortable majority of 117 seats.
• Interestingly, Marin took office as the head of 5 party coalition alongside 4 other parties all headed by women. Three of these women are in their early 30’s.
• The social democrats emerged as the strongest party after election in april.
• Marin was elected to a city councilor in the year 2012 at the age of 27 and became member of Finnish parliament in 2015.
• Earlier this year she became Transport and communication minister under her predecessor's govt.
• In 2018 Finland occupied 4th place among 149 countries in gender equality.
• Today Finland cabinet features a significant number of women. Twelve portfolios are represented by women and seven by men.
• Almost 47% of the countries parliament is occulied by women.