1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

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Hanjin's bankruptcy causes logistics chaos www.nhk.or.jp

The bankruptcy of South Korea's largest container carrier is causing logistics chaos in many countries.

Hanjin Shipping went under on August 31st. Since then, port operators in many countries have been refusing port calls of Hanjin's container vessels for fear of failing to receive port and cargo handling fees.

The South Korean government says 62 cargo carriers have dropped anchor in harbors or offshore.

The government is trying to provide financial assistance to Hanjin, in order to return 33 ships to South Korean ports, and allow 29 vessels to enter foreign ports for offloading.

The chairman of Hanjin Group, the shipping operator's parent conglomerate, has offered 37 million dollars of his own money to help cover costs.

Korean Air, the core business of the group, has also pledged aid of 55 million dollars.

The South Korean government estimates that all of Hanjin's container vessels will unload their cargo at the end of October at the earliest.

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India to join Paris Agreement on climate change www3.nhk.or.jp

Indian Prime Minister Narendra Modi says his government will ratify the Paris Agreement on climate change next month. The country is the world's fourth-largest emitter of greenhouse gasses.

Speaking in the southern state of Kerala on Sunday, Modi said his government plans to ratify the Agreement on October 2nd, the birth anniversary of India's independence leader Mahatma Gandhi.

Modi said Gandhi lived with a minimum carbon footprint.

The Paris Agreement was adopted last December as the first international framework to cut greenhouse gas emissions after 2020.

The agreement will take effect when it is ratified by signatories whose greenhouse gas emissions account for 55 percent or more of the world's overall figure.

India emits more than 4 percent of global emissions, following China, the United States and Russia.

India's ratification is expected to help the agreement take a major step toward its becoming effective.

Earlier this month, China and the United States announced their plans to ratify the pact. Attention is now focused on how other major emitters will respond to these positive trends.

Japan, the fifth-largest emitter accounting for 3.8 percent of the global amount, has not completed domestic procedures for its ratification.

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China slowdown is global economy's biggest threat, Rogoff says www.bbc.com

The former chief economist of the International Monetary Fund has told the BBC a slowdown in China is the greatest threat to the global economy.
Ken Rogoff said a calamitous "hard landing" for one of the main engines of global growth could not be ruled out.
"China is going through a big political revolution," he said.
"And I think the economy is slowing down much more than the official figures show,"
Mr Rogoff added: "If you want to look at a part of the world that has a debt problem look at China. They've seen credit fuelled growth and these things don't go on forever."
British exposure
Last week, the Bank of International Settlements, the global think tank for central banks, said that China's debt to GDP ratio stood at 30.1%, increasing fears that China's economic boom was based on an unstable credit bubble.
The figure was described as "very high by international standards" by the Financial Policy Committee of the Bank of England, which will now test British banks' exposure to a Chinese slowdown.
British banks have $530bn worth of lending and business in China, including Hong Kong. That is about 16% of all foreign assets held by UK banks.
'A worry'
"Everyone says China's different, the state owns everything they can control it," Mr Rogoff, now Professor of Economics at Harvard, said.

"We're having a pretty sharp landing already and I worry about China becoming more of a problem.
"We've taken it for granted that whatever Europe's doing, Japan's doing - at least China's moving along and there isn't really a substitute for China.
"I think India may come along some day but it's fallen so far behind in size it's not going to compensate."
'Nervous'
Mr Rogoff said that European economies and the US had to ensure they were "on their feet" before any slowdown started to bite.
"The IMF has marked down its forecasts of global growth nine years in a row and certainly the rumour is they're about to do it again," he said.
Beyond China, Mr Rogoff said there was a good deal of uncertainty in the world over issues such as whether Donald Trump or Hillary Clinton will win the US presidential election.
He argued it was difficult to judge what Mr Trump would do if he won, and that a victorious Mrs Clinton might have her plans for infrastructure spending, for example, blocked by the Republican House of Representatives.
"I am certainly nervous, probably much more about a Trump victory, just because of not knowing what's next," Mr Rogoff said.
"I don't like the [protectionist] trade policies of either candidate. I think free trade has benefitted the States immensely in its leadership position. So watching as an economist, this has been a painful election."
Brexit impact
Mr Rogoff said it was unclear what the impact of Brexit would be on the UK economy as it was not yet possible to define the trade model that would be agreed or judge how well the European economy would be performing at the time Britain leaves the European Union.
Despite praising the Bank of England's pro-active response to the referendum result, Mr Rogoff said that central banks were in an increasingly invidious position.

"Monetary policy has its limits - it is not a panacea," he said.
"It is a little bit the fault of central bankers for allowing themselves to take too much credit when things are good, and [then] getting blamed too much when things are bad.
"But monetary policy doesn't make an ageing economy young, it doesn't make an economy which is having little innovation suddenly innovate, it doesn't make an economy with a Zombie banking sector somehow miraculously healthy.
"I have a concern about monetary policy at the moment - that it is being asked to take on roles that it's not built for. It is being asked to do helicopter money where you just print money and hand it out to people.
"In Europe, central banks are buying up a significant proportion of the corporate debt market - that's what you do in China, in India, they're doing that in Japan also.
"There are all sorts of other pressures and I worry in the long run that central banks are losing their independence."

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Samsung delays restarting sales of its Galaxy Note 7 in S Korea www.bbc.com

Samsung has said it will delay restarting the sale of its Galaxy Note 7 phone in South Korea, as the firm needs more time for the global recall of the device.
The South Korean tech giant was forced to recall some 2.5 million devices globally due to overheating batteries.
Dozens of devices were reported to have caught fire.
The phone was to be back on the shelf on 28 September but is now expected to be available 1 October at the earliest.
On 2 September Samsung had said it would stop selling the phones and offered to replace the ones already sold. The firm also urged people to stop using the device.
The global recall affects 10 markets. In South Korea, some 200,000 customers have already returned their devices with the same number of people still left for the recall, according to Samsung.
Reuters reported that the next markets where the phone will be available for sale again will be Australia and Singapore in October.
In the US, regulators have ordered a formal recall of the phones, while the country's Federal Aviation Administration has told airline passengers not to bring the phones on planes unless they keep them turned off and don't charge them during the flight.
A number of airlines around the globe have also banned the phone from being used or charged on their planes.
The phone was originally launched on 19 August and had been generally well-received by critics and consumers.
The recall comes at a crucial time for Samsung as rival Apple has just released its new iPhone 7.
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7th MBD Business Networking: "Mongolian Foreign Direct Investment: Challenges" www.mongolianbusinesdatabase.com

We are pleased to invite you to the 7th MBD Business Networking which will be target in "Mongolian Foreign Direct Investment: Challenges" subject on Tuesday Oct 04, 2016 between 16.00-18.30 at Executive Excellence Center www.eeibcmongolia.com .

Agenda:

16.00 - "Mongolian Foreign Investment: Challenges and opportunities" - Dr. Nigel Finch, Founder & Managing Director of Saki Partners and Honorary Consul-General of Mongolia in Sydney.
(Dr.Nigel is a Founder & Managing Director of Saki Partners where he provides advice on complex financial transactions, he was an Associate Professor in Accounting at the University of Sydney (Australia).
He has authored more than 100 publications on accounting and finance including numerous articles focused on emerging markets and extractive industries. Some of his books include Emerging Markets and Sovereign Risk (2014), Fundamentals of Corporate Finance (2010), Contemporary Issues in Mining (2012) and Best Practices in Management Accounting (2012).
Dr. Finch is Chartered Accountant, a Chartered Tax Adviser and a Fellow of CPA. He is a member of the Representative Council of CPA Australia, a director of the Australia Mongolia Business Council and a director of several companies listed on the Australian Securities Exchange.)

16.20 - "Foreign investment into to the mining sector: Present situation, trend and comments" – L. NARANBAATAR, Founder and Director General of Glogex Co.,LTD
(Naranbaatar is a mining engineer-economist and holds financial management masters degree. He is initiated and leads to organize an annual Goal Mongolia and Metals Mongolia International forum. He is a board member of "Mongolian Geology and Mining professional institution and Mongolian minerals resource reporting committee)

16.40 - "The new circle begins: How we should benefit from it" - A.BILGUUN, Director of MIBG and capital market analyst 
(Mr. Bilguun joined MIBG as Chief Executive in the spring of 2012. Prior to joining MIBG Bilguun held several senior executive positions involved in corporate advisory, financing, and logistics within the mining and resources sector in Mongolia. These included Chief Executive and President of Monrud Mining Services LLC and Chief Executive of Discover Mongolia International Mining Investors Forum. In addition to Bilguun’s experience in Mongolia he has previously worked in investment banking at Toll Cross Securities, a Toronto based boutique specializing in mining and resources. He holds Bachelor of Commerce in Finance, Saint Mary’s University CFA Level-3 Candidate)

17.00 - "Foreign Investment into Capital markets: Present situation, trend and comments" -D.ANGAR Founder of Novel Investment and President of Mongolian Capital Markets Association
(Angar was CEO of Mongolian Stock Exchange in 2014-2015. He is now the 100% shareholder of “Novel Investment”, a member of the Mongolian Stock Exchange. The brokerage firm is the Mongolian market leader in the secondary market trading of Government Bonds and Treasury Bills, which accounts for 50% of all trades at the domestic bourse.
He has a bachelor’s degree in Finance from the University of Central Arkansas, USA, and a Master’s degree in International accounting and Finance from the University of Liverpool, UK.)

17.20 - "The recent foreign investment related policy changes: Lessons and comments - Ichinkhorloo SER-OD Founder and CEO of Mongolian Business Database MBD (NGO) and "Bridge of your Business (B2B Mongolia) Co.,LTD
(Ser Od graduated Mongolian National University's Law Institute and the Academy of American and International Law in Dallas Texas. He has been working in a leading business representative organizations, FDI, B2B communication sector for 15 years including Staff-Director of Foreign Relations Department of MNCCI and Vice Director of BCM. )

17. 40 -18.30 Networking served with light food and drinks.
For guests interested in attending this event and registration process please contact:tsendsuren.b@eeibcmongolia.comand tel:77106611, 77109911.

Please register by 5.00pm 03 Oct, 2016 via email providing your full name, company position, tel number and e mail address.
EEIBC's meeting room capacity is limited, so it will be “first come and first serve” basis. (The fee is 30.000 tugrug per person. Please confirm your registration by your payment to "Монголын Бизнес Мэдээллийн Бааз" TBD Bank's 427001964 account before your arrival)

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ASEAN GDP to exceed Japan's by 2030: IHS Markit economist www.asia.nikkei.com

SINGAPORE -- The combined gross domestic product of the Association of Southeast Asian Nations is expected to reach $8 trillion by 2030, higher than that of Japan, an IHS Markit economist said at a seminar here Thursday.
 
Rajiv Biswas, an IHS Markit senior director and its chief Asia-Pacific economist, was among the speakers at the Asia Economic Forum, a discussion organized by the U.K.-based economic research and analytics company and Nikkei.
 
Biswas pointed out that the Nikkei ASEAN Manufacturing Purchasing Managers' Index has shown a slight improvement in recent months, with the figure in August rising by 0.8 point from the previous month, underpinned by domestic demand. He expects ASEAN countries to generate "relatively resilient performance over the next couple of years," backed by ongoing economic reforms in countries such as Indonesia and Vietnam -- including a loosening of restrictions on foreign ownership.
 
During the panel discussion, Eastspring Investments Chief Investment Officer Boon Peng Ooi expressed confidence in Indonesia, a place where "political reforms are going through" thanks to the country's reform-minded leaders, led by President Joko Widodo. Meanwhile, Richard Jerram, chief economist of the Bank of Singapore, said his top pick for investment in ASEAN is Vietnam, citing demographic dividends and potential upside for the real estate market.
 
However, the picture is not all rosy. In July, exports for most Asian countries, including Thailand, Singapore, Malaysia and Indonesia, dropped from a year earlier.
 
The main drag is sluggish global demand, with slower growth in China and stagnant recoveries in the U.S. and Europe the main culprits. Standard Chartered Bank's Asia chief economist and managing director David Mann said the weak performance of the advanced economies is moving "the center of economic gravity [to Asia] even more quickly" than before.
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Hyundai to debut Genesis premium brand in China in 2-3 years -exec www.chinadaily.com.cn

HANAM, South Korea - South Korea's Hyundai Motor will launch its standalone premium auto brand Genesis in China within two to three years, betting on a luxury lane to profit as competition bites at the lower end of the world's biggest auto market.
Genesis brand chief Manfred Fitzgerald told Reuters in a recent interview the company is considering building Genesis models in China "For sure. But there are also other examples of (automakers) who live pretty well off of importing cars," he said, citing Toyota Motor Corp's Lexus.
 
The plans come as Hyundai tries to reverse out of 10 straight quarters of falling profit, hit in part by weakness in China.
 
Rolling out Genesis in key markets like China marks a shift for a company better known for making value-for-money cars and lacking the brand cachet and tradition of Germany's BMW , Mercedes-Benz and Audi. That trio dominates the luxury market globally - and in China.
 
"The luxury customer in China is very brand-conscious," said US national Fitzgerald, 53. The former executive with Audi's Lamborghini brand was speaking at the first, and so far only, standalone Genesis store, in a glitzy mall in Hanam on the outskirts of Seoul featuring cars like G80 sedans that can fetch up to 74 million won ($67,100).
 
"If you don't get your brand right, you can have the best product in the world, it won't work," said Fitzgerald. "In two, three years' time we will be entering China," he said, declining to give sales targets for a global rollout that will follow launches in Korea late last year and in the United States last month.
 
In China, imported cars carry a duty of more than 20 percent, putting pressure on automakers to produce locally.
 
Distribution debate
 
Genesis will open more standalone outlets, said Fitzgerald, and is exploring unspecified locations for its first US store. The Genesis line-up currently features two models, a range that the company plans to expand to six by 2020, including two sport utility vehicles.
 
Consultants like Eric Noble, president of California-based consultancy CarLab, say getting the sales channel right for premium cars is as important as the product itself.
 
For now, over 300 of Hyundai's more than 800 US dealerships will also be selling the Genesis brand, posing an added challenge for differentiating it from Hyundai. By comparison, Toyota's Lexus is sold through separate dealerships.
 
"From a product standpoint, the prospects of the (Genesis) brand are encouraging," said Noble. "But from a distribution standpoint, at least here in North America, it is much more problematic."
 
'Tipping point'
 
Hyundai Motor Group Chairman Chung Mong-koo, now 78, took the helm in 2000 and turned Hyundai and its Kia Motors affiliate into the world's fifth-largest automotive group by making inexpensive but reliable small cars.
 
But the veteran's 45-year-old son and vice-chairman Chung Eui-sun has sought to move Hyundai up the value chain. He spearheaded the move last November to hive off the Genesis sedan into a standalone brand, tapping a segment growing faster than the mass market to generate higher margins.
 
Fitzgerald said meeting with the younger Chung was a "tipping point" in his decision to join a company long known for promoting from within.
 
"He definitely gave me the feeling that no matter how long and how troublesome and how tedious this might be, they are in for it and they want to succeed."
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China lifts ban on US beef products www.chinadaily.com.cn

Premier's remarks spark rally in cattle futures, may relieve glut of cold storage supplies in US
 
Chinese authorities on Thursday announced the conditional lifting of a 13-year import ban on some US boneless beef and beef on the bone.
 
The removal of the ban applies to cattle that are under 30 months old, according to a joint statement issued on Thursday by the Ministry of Agriculture and the General Administration of Quality Supervision, Inspection and Quarantine.
 
The authorities said China would allow imports of beef that comply with China's traceability and quarantine requirements.
 
China has banned imports of most US beef since 2003, partly due to the concerns over the spread of bovine spongiform encephalopathy, also known as "mad cow disease". The lifting of the ban will be subject to the completion of detailed quarantine requirements, which will be announced at a later date, the statement said.
 
Premier Li Keqiang told business groups in New York on Tuesday that China would soon resume imports of US beef.
 
Li's remark about Chinese shoppers soon having a greater choice of beef sparked a rally in US cattle futures, which closed at just under 1 percent higher at $1.085 per pound at the Chicago Mercantile Exchange on Wednesday.
 
US cattle futures fell to six-year lows earlier this month, as supplies have expanded in the country, with a glut of cold storage beef, and China offers a potential outlet, The Wall Street Journal reported.
 
In the first six months of 2016, China imported 295,721 metric tons of beef, jumping 60.8 percent year-on-year. The value of imported beef reached $1.3 billion, up 48.3 percent year-on-year, according to the General Administration of Customs.
 
Because of rising feed prices, limited grazing land and the breeding cycle, China's cattle-raising sector lags behind consumer demand, resulting in higher beef prices in the past five years, according to a report by the Chinese Academy of Agricultural Sciences.
 
"With an emerging middle-class and their rising income, Chinese people are increasingly preferring high-quality and safe food products, including beef," said Wang Kai, a professor at Nanjing Agricultural University.
 
"Currently, the supply of beef in China falls short of demand, and China has found it is impossible to grow all of the food it needs and has consequently formed closer ties with the world food market."
 
"Demand for beef, mutton, fruit, wine and dairy roducts will certainly provide many opportunities for major agricultural produce exporters such as the US, Chile, Brazil and Argentina."
 
Tian Shen, a 24-year-old office worker in Beijing, said she prefers premium imported beef products in the supermarkets, as they have higher meat qualities and taste better.
 
 
 
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Corporation tax is on a downward trend, says OECD report www.theguardian.com

Eight of the world’s top industrialised nations lowered their corporation tax rates last year or announced plans to do so, according to a leading thinktank.
 
In the Organisation for Economic Cooperation and Development’s annual report on tax changes around the world, published on Thursday, the thinktank said Japan, Spain, Israel, Norway and Estonia had all lowered their tax rates for corporate profits in 2015. Meanwhile, future reductions had been announced by Italy, France and the UK, while Japan planned further cuts.
 
The OECD said the 2015 downward trend was accelerating as governments around the world emerged from the aftermath of the 2008 banking crisis and began using their tax policies more aggressively to chase GDP growth.
 
In particular, countries were vying with one another to offer foreign multinationals the most attractive tax rate in an effort to attract investment. “With regard to corporate income tax, rate reductions had generally slowed down after the crisis but seem to be picking up again,” the report said. “The trend seems to be gaining renewed momentum.”
 
The OECD findings may make uncomfortable reading for many politicians who have recently claimed to be leading the battle to make big global corporations pay more tax. A string of revelations about ultra-low tax bills among many of the world’s largest businesses – including Apple, Vodafone, Starbucks and Google – has led to widespread public anger. The OECD suggested cuts in corporation tax were being partially offset by rises in other taxes such as VAT, fuel and car tax.
 
Many tax justice and inequality campaigners have pointed out this trend hits poorer individuals hardest. The Tax Justice Network notes that it “redistributes wealth upwards”.
 
“Governments make up shortfalls [from corporation tax cuts] by levying higher taxes on other, less wealthy sections of society, or by cutting back on essential public services, so tax ‘competition’ boosts inequality and deprivation,” the Tax Justice Network has said.
 
OECD experts said lower corporation tax rates may indeed boost GDP but were also likely to heap pressure on other nations to follow suit and lower the rate of tax they levied on corporate profits. Critics of tax competition have called this a “race to the bottom”.
 
OECD corporation tax rates (%) since 2000 Photograph: OECD
The OECD said the average tax rate for corporate profits had declined from 32% in 2000 to 26% in 2008. The rate of decline then slowed – the average reaching 25% last year – but now looks to be quickening once again, the OECD said.
 
Meanwhile, the average rate of VAT – a tax that falls hardest on the poor – has climbed from 17.6% in 2008 to a record high of 19.2% at the start of 2015.
 
The UK was not among those OECD countries to have reduced corporation tax rates last year, but the then chancellor, George Osborne, did announce that the rate would steadily fall to 17% by 2020. It had been 28% when Osborne took office in 2010. He has repeatedly boasted of giving the UK the most competitive corporation tax rate of any G20 nation.
 
Speaking at a press conference on Thursday, OECD tax experts insisted world leaders were increasingly aware of concerns that aggressive tax competition was leading to wider income and wealth inequality.
 
“In the past, a very big focus of tax policy has been on achieving revenue collection … supporting [GDP] growth,” said David Bradbury, the thinktank’s head of tax policy and statistics.
 
“People have often left the question of income inequality – redistribution – to other levers of policy, particularly government spending. But tax policy has a critical role to play also in addressing those important questions of inequality.”
 
Earlier this month, leaders attending the G20 summit in Hangzhou asked the OECD and the International Monetary Fund to explore ways of using tax reforms to better foster GDP growth while at the same time curbing income and wealth inequalities.
 
While progressive taxes rates for personal and corporate income are in decline in many countries, OECD experts said there were other options for governments to explore. These include wealth taxes and measures to closing tax breaks on mortgage expenditure and pension contributions – incentives that largely benefit better-off individuals.
 
More broadly, the OECD said that industrialised nations wishing to increase tax revenue could do much more to tax property and carbon-heavy fuels such as coal. “The potential to raise revenues in an efficient way through property taxes, especially through recurrent taxes on residential property, is not being fully exploited,” the report concluded, although it found the highest property taxes were in the UK.
 
Meanwhile, OECD figures showed that countries were failing to align those taxes that have an impact on the environment with international ambitions to move to a low-carbon economy. In particular, road transport was heavily taxed despite the fact that other sectors make up 85% of CO2 emissions.
 
“The potential for harnessing the power of taxes as environmental policy instruments is large,” the report said, noting that there were currently “particularly low taxes on some of the most environmentally harmful fuels, notably coal”.
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Delegation addresses China's steel overproduction www.nhk.or.jp

A major Japanese business delegation is in China for talks with senior government officials. The delegates are calling on China to tackle the issue of overcapacity in its steel industry.

About 200 members of the Japan-China Economic Association are sitting down in Beijing with Vice Premier Zhang Gaoli and other officials.

The visitors include Sadayuki Sakakibara, the chairman of Keidanren, the Japan Business Federation.

They said overproduced steel products in China are exported at low prices, hurting steelmakers around the globe.

Zhang said he intends to promote reforms to resolve the issue of factories with excess capacity.
He said China wants to learn from Japan's experience in tacking such problems through industrial realignment.

The delegates also met with senior officials of China's Commerce Ministry.

The Japanese side said China needs to step up efforts to protect intellectual property rights in order to attract more private investment.

They called for a crackdown on the sale of counterfeit Japanese products.
The Chinese officials promised to do more to deal with the problem.

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