Connect with us
[the_ad id="89560"]

Uncategorized

Koreas agree to break ground on inter-Korean railroad

Published

7 minute read

SEOUL, Korea, Republic Of — North and South Korea continued their push for peace Monday with high-level talks that resulted in a host of agreements, including a plan by the rivals for a groundbreaking ceremony this year on an ambitious project to connect their railways and roads.

The agreements come amid unease in Washington over the speed of inter-Korean engagement. Many outsiders believe that U.S.-led efforts to rid the North of its nuclear-tipped missiles are lagging significantly behind the Koreas’ efforts to move past decades of bitter rivalry.

A series of weapons tests by North Korea last year, and an exchange of insults and threats between President Donald Trump and North Korean leader Kim Jong Un, had many on the Korean Peninsula fearing war. But there has since been a surprising peace initiative, with three inter-Korean summits and a June meeting in Singapore between Trump and Kim. The U.S. and North Korea are working on plans for a second such summit.

Still, there is widespread skepticism that North Korea will disarm. And, despite the fanfare for the proposed railway and road projects, the Koreas cannot move much further along without the lifting of international sanctions against North Korea, which isn’t likely to come before it takes firmer steps toward relinquishing its nuclear weapons and missiles.

South Korea’s Unification Ministry, which handles affairs with the North, said in a statement that the government will share details from Monday’s meeting with the United States and other nations and will closely co-ordinate with them to avoid any friction over sanctions.

The ministry said the rivals agreed Monday to hold general-level military talks soon to discuss reducing border tensions and setting up a joint military committee that’s meant to maintain communication and avoid crises and accidental clashes.

The Koreas also agreed to use their newly opened liaison office in the North Korean border town of Kaesong to host talks between sports officials in late October to discuss plans to send combined teams to the 2020 Summer Olympics and to make a push to co-host the 2032 Summer Games.

And the two countries will hold Red Cross talks at North Korea’s Diamond Mountain resort in November to set up video-conference meetings between aging relatives separated by the 1950-53 Korean War and potentially expand face-to-face reunions between them.

Monday’s talks at the border village of Panmunjom were aimed at finding ways to carry out peace agreements announced after a summit last month between South Korean President Moon Jae-in and Kim in the North Korean capital of Pyongyang.

South Korean Unification Minister Cho Myoung-gyon said it was meaningful that the Koreas are getting faster in reaching agreements as their diplomacy gains traction. His North Korean counterpart, Ri Son Gwon, who heads an agency dealing with inter-Korean affairs, said “no group and no force will be able to prevent the path toward peace, prosperity and our nation’s unification.”

At the most recent summit between Moon and Kim, the two leaders committed to reviving economic co-operation when possible, voicing optimism that international sanctions could end and allow such activity.

They also announced measures to reduce conventional military threats, such as creating buffer zones along their land and sea boundaries and a no-fly zone above the border, removing 11 front-line guard posts by December, and demining sections of the Demilitarized Zone.

Moon has described inter-Korean engagement as crucial to resolving the nuclear standoff and is eager to restart joint economic projects held back by sanctions if the larger nuclear negotiations between the United States and North Korea begin yielding results.

However, South Korea’s enthusiasm for engagement with its rival appears to have created discomfort with the United States, a key ally.

Moon’s government last week walked back a proposal to lift some of its unilateral sanctions against North Korea following Trump’s blunt retort that Seoul could “do nothing” without Washington’s approval.

South Korean Foreign Minister Kang Kyung-wha also said U.S. Secretary of State Mike Pompeo expressed displeasure about the Koreas’ military agreements. Kang was not specific, but her comments fueled speculation that Washington wasn’t fully on board before Seoul signed the agreements.

Trump has encouraged U.S. allies to maintain sanctions on North Korea until it denuclearizes to maintain a campaign of pressure against Kim’s government.

Experts say updating North Korean trains, which use rails that were first laid in the early 20th century, could take decades and cost tens of billions of dollars.

In Monday’s meeting, the Koreas also agreed to conduct joint inspections during late October of the North Korean portion of a railway that once connected Seoul and Sinuiju, before moving on to railways in the eastern section in early November. A groundbreaking ceremony for the project is planned for November or early December.

Originally built by Japan, the Gyeongui line between Seoul and Sinuiju was separated at the end of World War II in 1945, when the Korean Peninsula was liberated from Japanese colonial rule and divided between a U.S.-controlled southern side and a Soviet-controlled north.

The line was briefly reconnected during a previous era of rapprochement between the rivals in the 2000s. The Koreas in December 2007 began freight services between South Korea’s Munsan Station in Paju and North Korea’s Pongdong Station, which is near Kaesong where the Koreas once operated a joint factory park. But the line was cut again in 2008 when a new conservative government took over in Seoul.

Kim Tong-Hyung, The Associated Press


















Storytelling is in our DNA. We provide credible, compelling multimedia storytelling and services in English and French to help captivate your digital, broadcast and print audiences. As Canada’s national news agency for 100 years, we give Canadians an unbiased news source, driven by truth, accuracy and timeliness.

Follow Author

Uncategorized

What is ‘productivity’ and how can we improve it

Published on

From the Fraser Institute

By Jock Finlayson

Earlier this year, a senior Bank of Canada official caused a stir by describing Canada’s pattern of declining productivity as an “emergency,” confirming that the issue of productivity is now in the spotlight. That’s encouraging. Boosting productivity is the only way to improve living standards, particularly in the long term. Today, Canada ranks 18th globally on the most common measure of productivity, with our position dropping steadily over the last several years.

Productivity is the amount of gross domestic product (GDP) or “output” the economy produces using a given quantity and mix of “inputs.” Labour is a key input in the production process, and most discussions of productivity focus on labour productivity. Productivity can be estimated for the entire economy or for individual industries.

In 2023, labour productivity in Canada was $63.60 per hour (in 2017 dollars). Industries with above average productivity include mining, oil and gas, pipelines, utilities, most parts of manufacturing, and telecommunications. Those with comparatively low productivity levels include accommodation and food services, construction, retail trade, personal and household services, and much of the government sector. Due to the lack of market-determined prices, it’s difficult to gauge productivity in the government and non-profit sectors. Instead, analysts often estimate productivity in these parts of the economy by valuing the inputs they use, of which labour is the most important one.

Within the private sector, there’s a positive linkage between productivity and employee wages and benefits. The most productive industries (on average) pay their workers more. As noted in a February 2024 RBC Economics report, productivity growth is “essentially the only way that business profits and worker wages can sustainably rise at the same time.”

Since the early 2000s, Canada has been losing ground vis-à-vis the United States and other advanced economies on productivity. By 2022, our labour productivity stood at just 70 per cent of the U.S. benchmark. What does this mean for Canadians?

Chronically lagging productivity acts as a drag on the growth of inflation-adjusted wages and incomes. According to a recent study, after adjusting for differences in the purchasing power of a dollar of income in the two countries, GDP per person (an indicator of incomes and living standards) in Canada was only 72 per cent of the U.S. level in 2022, down from 80 per cent a decade earlier. Our performance has continued to deteriorate since 2022. Mainly because of the widening cross-border productivity gap, GDP per person in the U.S. is now $22,000 higher than in Canada.

Addressing Canada’s “productivity crisis” should be a top priority for policymakers and business leaders. While there’s no short-term fix, the following steps can help to put the country on a better productivity growth path.

  • Increase business investment in productive assets and activities. Canada scores poorly compared to peer economies in investment in machinery, equipment, advanced technology products and intellectual property. We also must invest more in trade-enabling infrastructure such as ports, highways and other transportation assets that link Canada with global markets and facilitate the movement of goods and services within the country.
  • Overhaul federal and provincial tax policies to strengthen incentives for capital formation, innovation, entrepreneurship and business growth.
  • Streamline and reduce the cost and complexity of government regulation affecting all sectors of the economy.
  • Foster greater competition in local markets and scale back government monopolies and government-sanctioned oligopolies.
  • Eliminate interprovincial barriers to trade, investment and labour mobility to bolster Canada’s common market.
Continue Reading

Uncategorized

COP29 was a waste of time

Published on

From Canadians For Affordable Energy

Dan McTeague

Written By Dan McTeague

The twenty-ninth edition of the U.N. Climate Change Committee’s annual “Conference of the Parties,” also known as COP29, wrapped up recently, and I must say, it seemed a much gloomier affair than the previous twenty-eight. It’s hard to imagine a more downcast gathering of elitists and activists. You almost felt sorry for them.

Oh, there was all the usual nutty Net-Zero-by-2050 proposals, which would make life harder and more expensive in developed countries, and be absolutely disastrous for developing countries, if they were even partially implemented. But a lot of the roughly 65,000 attendees seemed to realize they were just spewing hot air.

Why were they so down? It couldn’t be that they were feeling guilty about their own hypocrisy, since they had flown in, many aboard private jets, to the Middle Eastern petrostate of Azerbaijan, where fossil fuels count for two-thirds of national GDP and 90% of export revenues, to lecture the world on the evils of flying in planes and prospering from the extraction of oil and natural gas. Afterall, they did the same last year in Dubai and there was no noticeable pang of guilt there.

It’s likely that Donald Trump’s recent reelection had a lot to do with it. Living as they do in a media bubble, our governing class was completely blindsided by the American people’s decision to return their 45th president to the White House. And the fact that he won the popular vote this time made it harder to deny his legitimacy. (Note that they’ve never questioned the legitimacy of Justin Trudeau, even though his party has lost the popular vote in the past two federal elections. What’s the saying about the modern Left? “If they didn’t have double standards, they’d have no standards at all.”)

Come January, Trump is committed to (once again) pulling the U.S. out of the Paris Climate Accords, to rolling back the Biden Administration’s anti-fracking and pro-EV regulations, and to giving oil companies the green light to extract as much “liquid gold” (his phrase) as possible, with an eye towards making energy more affordable for American consumers and businesses alike. The chance that they’ll be able to leech billions in taxpayer dollars from the U.S. Treasury while he’s running the show is basically zero.

But it wasn’t just the return of Trump which has gotten the climate brigade down. After a few years on top, environmentalists have been having one setback after another. Green parties saw a huge drop off in support in the E.U. parliament’s elections this past June, losing one-third of their seats in Brussels.

And wherever they’ve actually been in government, in Germany and Ireland for instance, the Greens have dragged down the popularity of the coalitions they were part of. That’s largely because their policies have been like an arrow to the heart of those nations’ economies – see the former industrial titan Germany, where major companies like Volkswagen, Siemens, and the chemical giant BASF are frantically shifting production to China and the U.S. to escape high energy costs.

But while voters around the world are kicking climate ideologues to the curb, there are still a few places where they’re managing to cling to power for dear life.

Here in Canada, for instance, Justin Trudeau and Steven Guilbeault steadfastly refuse to consider revisiting their ruinous Net Zero policies, from their ever-increasing Carbon Tax, to their huge investments in Electric Vehicles and the mandates which will force all of us to buy pricey, unreliable EVs in just over a decade, and to the emissions caps which seek to strangle the natural resource sector on which our economy depends.

Minister Guilbeault was all-in on COP29, heading the Canadian delegation, which “hosted 65 events showcasing Canada’s leadership on climate action, nature-based solutions, sustainable finance, and Canadian clean technologies—while discussing gender equality, youth perspectives, and the critical role of Indigenous knowledge and climate leadership” and stood up for Canadian values such as “2SLGBTQI+” and “gender inclusivity.” Once again, in Azerbaijan, which has been denounced for its human rights abuses.

And no word yet on the cost of all of this – for last year’s COP28 the government – or should I say the taxpayers – spent $1.4M on travel and accommodations alone for the 633 member delegation. That number, not counting the above mentioned events, are sure to be higher, as Azerbaijan is much less of a travel destination than Dubai, and so has fewer flights in and available hotel rooms.

At the same time all of this was going on, Trudeau was 12,000 kms away in Rio de Janeiro, Brazil,  telling an audience that carbon taxation is a “moral obligation” which is more important than the cost of living: “It’s really, really easy when you’re in a short-term survive, [to say] I gotta be able to pay the rent this month, I’ve gotta be able to buy groceries for my kids, to say, OK, let’s put climate change as a slightly lower priority.”

This is madness, and it underscores how tone-deaf the prime minister is, and also why current polling looks so good for the Conservatives that Pierre Poilievre might as well start measuring the drapes at the PMO.

He has the Trudeau Liberals’ obsessive pursuit of Net Zero policies in large part to thank for that.

The world is waking up to the true cost of the Net Zero ideology, and leaving it behind. That doesn’t mean the fight is over – the activists and their allies in government are going to squeeze as many tax dollars out of this as they possibly can. But the writing is on the wall, and their window is rapidly closing.

Dan McTeague is President of Canadians for Affordable Energy.

Continue Reading

Trending

X