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World News

North Korea’s meals state of affairs is ‘tense,’ Kim Jong Un says

North Korea’s leader Kim Jong Un speaks in this undated photo released by North Korea’s Korean Central News Agency (KCNA) on March 7, 2021, about the first short course for chief secretaries of city and county party committees in Pyongyang, North Korea.

KCNA | via Reuters

North Korea’s ruler Kim Jong Un has reportedly admitted that the food situation in the secret country is worrying amid reports of food shortages and inflated staple prices.

North Korea’s authoritarian leader said the food situation is now “strained” after the country’s agricultural sector “failed to meet its grain production schedule due to typhoon damage last year,” state media reported in Pyongyang.

Speaking at a plenary meeting of the Central Committee of the ruling Workers’ Party of Korea, Kim said, “Having a good harvest is a militant task that our party and our state must fulfill as the top priority in order to enable people to live stable lives and to successfully advance in building socialist construction “reported the Pyongyang Times.

Comments at the plenary session, which began on Tuesday and lasts all week, mark a rare admission of problems with the communist regime, which traditionally does not publicly admit problems in the country.

In North Korea there are no independent media in which state media serve as the mouthpiece of the regime. Instead, the media extol the virtues and wisdom of Kim Jong Un, the “Supreme Leader” and the Kim Dynasty. All comments from Kim are carefully recorded and reported.

Kim’s comments come amid reports of rising food and staple food prices in North Korea amid the crisis exacerbated by the coronavirus pandemic and typhoon in 2020. NK News (an independent North Korean news service not based in the country) has reported the price hike, with a source in the country reporting examples of shampoos for $ 200 a bottle and a kilogram of bananas for $ 45 a bottle.

North Korea has few allies in the world and has relied on China (its largest trading partner) for much of its imports, but the closing of its border with China during the pandemic has resulted in food and fuel shortages. North Korea’s agricultural sector has always been vulnerable to the typhoon season in the region and has experienced regular flooding in recent years.

Kim chaired the Labor Party’s plenary session this week, alluding to the economic troubles but insisting that things get better.

Kim said that “the conditions and environment for the revolutionary struggle have deteriorated since the beginning of this year, but the country’s economy as a whole has improved,” the state-run Pyongyang Times reported.

Kim put items on the Central Committee’s agenda, saying “to direct all efforts this year towards agriculture” and to deal with the “protracted nature” of the pandemic, to analyze the “current international situation” and “the issue of stabilization and improving people’s living standards ”. “And the party’s childcare policy is a top priority, state media said.

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Health

Singapore’s Covid scenario might begin to enhance in weeks: Professor

SINGAPORE – Singapore is facing the largest local outbreak of Covid-19 infection in months. However, according to Dale Fisher, chairman of the World Health Organization’s (WHO) Global Outbreak Alert and Response Network, the situation could improve in the coming weeks.

“We believe we can break the transmission chains,” he told CNBC’s Street Signs Asia on Wednesday.

“With quite a sophisticated and thorough contact tracing, along with quarantining the contacts and isolating the cases, I would have confidence that the situation will improve in the next few weeks,” said Fisher, who is also a professor at Yong Loo Lin School of Medicine at the National University of Singapore.

Singapore’s new cases in the community rose from 11 the week before to 64 in the past week, the Ministry of Health announced on Tuesday.

The country’s multi-ministry task force announced Tuesday that stricter restrictions would be in place from May 8-30. The Straits Times index fell 1.04% on Wednesday afternoon.

Variants in the community

Authorities also said the “double mutant” variant of Covid – first detected in India – was found among locally transmitted cases. This B.1.617 strain is believed in part to be to blame for India’s rising caseload, which has marginalized its healthcare system as hospitals run out of beds and oxygen.

Fisher said it was difficult to determine how much of an impact each variant can have on how the virus is transmitted.

While there is “good evidence” that many variants “increased portability”, this is not the only factor.

“It’s also about all of the different measures that are in place and actually those measures work. It’s just … this version of the virus is less forgiving of violations,” he said.

It’s about shutting down clusters, stopping transmission chains and living with (the virus) instead of having a … blunt shutdown.

Dale Fisher

Professor at the National University of Singapore.

He noted that some cases were confirmed after the 14-day quarantine was completed. Singapore has extended the quarantine period for travelers from higher risk countries to 21 days.

However, it’s not clear whether the incubation period is longer for variants of the virus, said Fisher, who added that there may also be false negative Covid test results – meaning that a person is actually sick with the disease but the test does indicate that she is not infected.

“Trust” in Singapore

Still, he said he has “a lot of confidence” in Singapore’s systems and believes the country is taking the right approach by not going into lockdown.

“It’s about shutting down clusters, stopping chains of transmission and living with (the virus) instead of having a … blunt shutdown,” he said. “We are aware of the social and economic consequences.”

On vaccinations, Fisher said Singapore likely leads the rest of Asia in terms of the proportion of its population that received at least one shot. “I think we’re getting there steadily,” he said. “Very high levels of nationwide vaccination are expected by October.”

As of April 18, more than 2.2 million doses of the vaccine had been administered in Singapore, the ministry said. The country reported 16 new cases on Wednesday, bringing the total to 61,268.

Categories
Politics

‘All of the makings of a harmful state of affairs’

Senator Elizabeth Warren, D-Mass., Holds a press conference at the Capitol on March 1, 2021.

Tom Williams | CQ Appeal, Inc. | Getty Images

Senator Elizabeth Warren is targeting Archegos Capital Management and the lightly regulated hedge fund industry after her stock deals frenzied the market late last week.

“The Archegos collapse had all the prerequisites for a dangerous situation – largely unregulated hedge funds, opaque derivatives, private dark pool trading, high leverage and a trader who tore himself out of SEC enforcement,” Warren told CNBC in a statement on Tuesday.

CNBC policy

Read more about CNBC’s political coverage:

When Credit Suisse and Nomura, two top Archegos brokers, announced early Monday that they were facing losses that could be “significant” to banks, rival firms Goldman Sachs and Morgan Stanley had, according to data from already discharged their positions knowledge of the matter. They asked for anonymity to talk about private negotiations.

Goldman managed to sell the majority of the shares on Friday in connection with its margin calls on Archegos, which, according to one of the people, helped the company avoid losses in the aftermath. Morgan Stanley sold $ 15 billion worth of shares in a matter of days trying to avoid significant losses, CNBC’s Leslie Picker reported.

– CNBC’s Hugh Son and Leslie Picker contributed to this report.