US – Initial Claims
08/11/2019 09:59 am MYT
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The seasonally adjusted initial claims for the week ending 2 Nov 2019 was 211,000, which decreased by 8,000 from the previous week. The 4-week moving average increased 250 from the previous week to 215,250 – see figure 1. Continuing jobless claims for the week ending 26 Oct 2019 registered a seasonally adjusted 1.690 mln, down 3,000 from the previous week, while the 4-week moving average was unchanged at 1.687 mln. The underlying trend remained consistent with a tight labour market.

Note from Publisher
Although India pulled out at the last minute, the 15-member Regional Comprehensive Economic Partnership (RCEP) agreement will be ready for signing next year. RCEP is a free trade agreement among the 10-member ASEAN, China, Japan, South Korea, Australia and New Zealand. It is to be the world’s largest free trade bloc. The 15 participating countries make up nearly a third of the world’s population and GDP. With the protectionist Trump administration terrorizing every country in the world with tariffs, a successful conclusion of RCEP is of utmost importance.

In addition, it is the first time that China, South Korea, and Japan are in the same free trade bloc, potentially paving the way for the illusive free trade agreement among the three East Asian economic powerhouses to be realized. i Capital has written many times about the immense potentials of a China-South Korea-Japan economic alliance. It would provide a real counter balance to the US and Europe, which have dominated the world since the first industrial revolution.

The world will definitely be more peaceful when no single super power is allowed to bulldoze its way through the rest of the world. Check and balance would promote justice, responsibility, and transparency.
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