US secretary clarifies statements that have generated criticism and devaluation of the dollar

US secretary clarifies statements that have generated criticism and devaluation of the dollar

The secretary of the US Treasury, Steven Mnuchin, had to clarify on Thursday the statements given by him yesterday, when he talked about the advantages of a “weak dollar” for the US economy, sparking harsh criticism from analysts and a devaluation currency. During a press conference yesterday in Davos, Switzerland, where he participates in the World Economic Forum, Mnuchin said a weak dollar was “good for trade and economic opportunities”

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The statements made the US currency depreciate yesterday in the foreign exchange market compared to other major world currencies. The retreat was held today in the midst of Wall Street. In attending a debate organized today by the US broadcaster “CNBC” in Davos, Mnuchin explained that the comments made reference to the short-term evolution of the value of the dollar, not in the long term. “In the short term, I do not worry about the dollar situation because it oscillates,” he said in the program. “There are benefits in the short term with a dollar with a lower value,” added the secretary of the Treasury.

In the long run, however, Mnuchin said he was betting on the strength of the dollar as the reserve currency of the international system. “And it will continue to be, taking into account the confidence in the American market,” he said. Yesterday’s statements were met with surprise by US analysts. The Wall Street Journal has published an editorial with several criticisms of Mnuchin. “The man whose signature is on the dollar tells the world he wants his value to be less so that the US can retaliate against its neighbors in trade,” the Journal wrote in the editorial.

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The text earned the title “Making the Dollar Fragile Again,” an irony to President Donald Trump’s campaign slogan: “Make America Great Again.” The “Journal” stated that the US does not live in an “economic bubble” and must resort to the external market for manufacturing production. Therefore, a fragile dollar would disrupt the country’s competitiveness and benefit foreign rivals. Mnuchin denied that his statements on the currency were a change of government policy. However, in the campaign, Trump also stated on some occasions that he thought the dollar was highly valued.

“It may be slightly different from what the former Treasury secretaries said,” Mnuchin said. The dollar was also suffering in the currency market today because of new decisions announced by the Federal Reserve, which includes the possibility of prolonging monetary stimulus to the country’s economy after the financial crisis of 2008.

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Thousands of people attend the New Year parade in central London

Thousands of people attend the New Year parade in central London

Thousands of people attended a colorful New Year parade in central London on Monday, and in some parts of the UK and Ireland citizens debuted in 2018 with a sea bath, even at low temperatures. Around 8,000 dancers, acrobats and musicians from various countries of the world, accompanied by giant balloons and old cars, participated in the 32nd edition of the January 1 parade, which ran from the famous Piccadilly Circus square to Whitehall Avenue in British capital.

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In several coastal counties of the British Isles, such as Pembrokeshire and Yorkshire, as well as Co Wicklow in the Republic of Ireland, villagers threw themselves into the sea wearing bathing suits and costumes as part of the festive acts that take place at this time of year of times for the purpose of raising money for charitable works. In Edinburgh, Scotland, where Hogmanay was celebrated last night, 1,100 people from 21 countries took part in Loony Dook in the waters of South Queensferry.

On December 31, tens of thousands of people attended the various music and fireworks shows that took place throughout the country to receive the new year. The biggest celebrations were those of the Scottish and London capital, where around 100,000 people gathered on the banks of the River Thames to watch fireworks after the 12 buzzing sounds in Big Ben.

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There were no major incidents at this event, but in other parts of the city four men were stabbed to death in episodes of assault that appear to be unrelated and unrelated to terrorism, police said. In Sheffield and Manchester, in the north of England, there were also some disturbances that resulted in several arrests.

In the city of Liverpool, firefighters erased a large fire that began in a garage building with a capacity of 1,600 vehicles, which spread over several floors and destroyed all cars that were parked on the scene, but there were no casualties. In general, UK emergency services reported an increase in activity and number of calls compared to other years, and in London, almost 300 people suffering from “alcohol-related problems” had to be seen by the medical services.

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Philippine volcano Mayon low activity but evacuated reach 80,000

Philippine volcano Mayon low activity but evacuated reach 80,000

PHILIPPINES (Reuters) – More than 80,000 people have been evacuated on Mayon volcano in the eastern part of the country, where the alert for a possible explosion remains, despite a reduction in activity in recent hours. The Mayon, in intense activity since the 13th, does not record an eruption since Sunday afternoon, which contrasts with the 5 to 10 daily explosions observed last week.

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Even so, “it is difficult to assess whether the volcano will follow this trend in the next few days,” the expert Echevel Winchelle Sevilla of the Philippine volcanology agency (PHIVOLCS) told Efe. Sevilla assured that “there is still the risk of a major power eruption in the coming days or weeks.”

For this reason, the authorities maintain the alert at level four – that considers a dangerous eruption possible in the next hours or days – of a scale of 5. In addition, an exclusion zone has been delimited within a radius of 8 kilometers from the crater, which includes a maximum danger area within a radius of 6 kilometers. A total of 81,371 people from more than 21,000 families living in the exclusion zone were evacuated to temporary shelters in the region and for the time being cannot return to their homes, according to the latest report by the Civil Defense Office of the province of Albay.

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Mayon’s activity, which has awakened on six occasions over the last three decades, has sparked a revival of similar moments to those experienced during the 1991 eruption of Pinatubo (Northwest Manila), the second largest in the 20th century and which left 850 dead and more than 1.3 million displaced people.

However, PHIVOLCS experts discard that Mayon can generate an eruption as potent as that of Pinatubo.

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Dismantling planes serve as makeshift home in Bangkok

Dismantling planes serve as makeshift home in Bangkok

The nose of a Boeing 747 appears above the wall of a deserted outpost in Bangkok’s suburb and where three dismantled airplanes serve as a makeshift home for a family. The leg is the one in charge of guarding the place and to receive the urban explorers who venture to visit the fuselages of the airplanes, attracted by its phantasmagoric aspect. The payment for the visit is 200 baht (about US $ 6), which serves as an investment for the six poor people living there. Until four years ago, the place housed a restaurant that due to its lack of success was forced to close the doors with only two months of operation.

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The deadline was used by the owners of the planes to decide to park the colossal structures indefinitely there and leave them to the care of Riem, a Thai of 56 years who is the head of the family house in the place. “We do not know how the planes arrived because it is a private property,” said a spokesman for the district. “If the owner pays his taxes, we have nothing to say,” he added, before revealing that the landowner is the Sahatap company. Contacted by telephone, a Sahatap employee stated that “the person who knows the subject is not in the office”.

In the latter case, Riem confesses that she was assigned to be the guardian of airplanes for the price of 7,000 baht (a little more than $ 223) a month, which she uses mostly for the treatment of her youngest daughter. was diagnosed with cancer. This money is added to the money received from the curious who decide to visit the picturesque place, in addition to the help that is eventually given by the Buddhist monks, even if she is a Muslim. The sadness and indignation also take care of the grandmother when it speaks of the small Pit, its grandson of eight years, that another of its daughters left to him to take care of. “I do not know what’s going to happen to him, he can not go to school because he has no established address or legal guardians. His mother left him to go with a man,” Riem lamented.

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The boy listens attentively, but the confessions of his grandmother do not take away the joy with which he receives the tourists, who in a scratched English invites to enter the dirty cabins of the aircraft, that sometimes happened to be of the first class to the hiding of drug addicts. The door through which the suitcases were loaded opens wide now to greet the visitors who climb spider webs up steep steps leading to the main cabin. Today, it is a space full of graffiti, broken windows and oxygen masks threw across the floor, creating an atmosphere similar to that of a horror movie, a perfect place for anyone who wants to take pictures and post them on social networks. What for some is just a fun weekend adventure for the Riem family represents a source of income that helps them survive in the Thai capital.

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