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Abstract

It’s been five years of significant turbulence in the world economy. After a recovery in international trade in 2017, economic conditions started deteriorating in the second half of 2018 and further in 2019, due to trade tensions between the United States of America and China, fears of a disorderly Brexit in Europe, and a negative global output outlook more generally. The reaction in trade in 2020 was consistent with the escalating global COVID-19 pandemic and steps taken by individual countries/territories in controlling or mitigating it. After a fragile recovery from pandemic during 2021 year, the world economy in 2022 is facing market conditions of a “perfect storm”. Geopolitical, market and financial volatility can generate unintended and unpredictable consequences, with Russia’s invasion of Ukraine and the West’s response providing a dramatic illustration of how combustible that combination can be. Cable makers, and not only them, have to operate under conditions of fast price increases of commodities and services. As result, the cost of producing cables has increased significantly, so they are forced to pass part or all of the additional cost to the consumers. The world cannot continue to absorb this type of escalation, so something has to happen, some actions need to be reinforced.
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Sustainable development and the need to reform the carbon tax
Maurizio Bragagni, Lorenc Xhaferraj, Irene Mazza, Giuseppe Concetti
Journal of Public Aairs, March 2022, Wiley
DOI: 10.1002/pa.2787
Sustainable development and the need to
reform the carbon tax
What is it about?
Goal: The current Covid-19 pandemic has raised awareness of the urgency of
reforming our economy to achieve a global recovery. This endeavour will require the
implementation of various strategies aiming for a system reset, at the core of which
is the sustainable recovery model.
In 2009 the United Nations General Assembly proclaimed 22 April as International
Mother Earth Day. It was a brave act of acknowledgement that the Earth and its
ecosystems are our typical home. At the same time, it is a tangible expression of the
global conviction that humankind must be in Harmony with Nature to achieve a just
balance among the economic, social and environmental needs of present and future
generations.
While the global community is actively searching for new ways to achieve sustainable
development, resolved to perform an economic system reset, determined to a green
recovery, why don’t we try to reform the taxing system? A right taxation system could
help recover quickly and achieve a green recovery of the global economy.
Why is it important?
While everyone has to pay tax, the truth is that some more prominent companies go
to extreme measures to minimise their contribution where they are based and where
they sell.
The new thinking that this article aims to consider is that instead of taxing the
companies for what they produce and sell, we should tally the amount of C02 a
company emits in the atmosphere while making the goods and recycling them tax
them accordingly.
Perspectives
DR Maurizio Bragagni
City University
Sustainable development is not the way, but the only option for the international
community to embrace to achieve global economic recovery and sustain the future's
challenges. The 17 UN Global Goals (or SDGs) are more than just an aspirational
framework for governments. They are a roadmap for business opportunities to
transform them into a successful business that can sustain the current and future
challenges. A shift to a sustainable model of an economy, with more greener
emphasis, could create 24 million new jobs globally by 2030 if the right policies are
In partnership with:
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put in place. Only the goods and services sector can generate over US$ 2.5 trillion in
annual income, and this is growing at a rate of over 8% per year. In the ancient Rome
Senate, Catalina (or Cataline) was an advocate for the cancellation of debts and land
redistribution. Then he went “too far” with his demands of cancelling the tax at all
and was accused of leading a plot to overthrow the Roman Senate. According to
Cicero, “Quo usque tandem abutere, Catalina, patientia nostra? Quam diu etiam
furor iste tuus nos eludet? Quem ad nem sese erenata iactabit audacia?” The
above has the following meaning in English: “When, O Catalina, do you mean to cease
abusing our patience? How long is that madness of yours still to mock us? When is
there to be an end of that unbridled audacity of yours, swaggering about as it does
now?”
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Preprint
Full-text available
Conclusion The transition to sustainability and net zero carbon emissions will require the global economies to accelerate the use of clean energy technologies. A low-carbon future will be very mineral intensive because clean energy technologies need more materials than fossil-fuel-based electricity generation technologies. Greater ambition on climate change goals, as outlined by the Paris Agreement, requires installing more of these technologies and will therefore lead to a larger material footprint. Copper’s properties are vital for a range of activities including safe energy transmission and efficient transport. From mines and smelters/refiners through to manufacturing, the copper industry needs to further upgrade its capacities to be able to provide the raw material and the finished products to assist society through any challenge. As copper is required in any of clean technologies of the future, it will be in high demand. The copper price is ultimately the tool for generating the fundamental adjustments in the global copper market. At current conditions, copper supply chain is not ready to meet the high demand. If copper price will remain below $9,000 per metric ton, there is a risk that the global copper market would face inventory depletion risk by 2023. According to the Goldman Sachs projection, copper price would need to increase to average $9,675/t in 2021, $11,875/t in 2022, $12,000/t in 2023 before a material step up to $14,000/t in 2024 and $15,000/t in 2025, to allow the metal balances into mid-decade to remain manageable without depletion occurring. Whether prices need to rise further post-2025, will then depend on whether the price rally has supported enough mine supply response by that stage.
Experiment Findings
Full-text available
The price of raw materials is increasing and manufacturers face cascading challenges through the supply chains. As prices continue their upward climb, manufacturers are still dealing with the two supply chain headwinds, plaguing the industry throughout the pandemic: slowing supplier deliveries and labour availability. There are four significant trends affecting raw material prices: • Strong global market demand, significantly China’s V shape economic recovery, has led to shortages on many raw materials • The oil price has risen by 58% since November 2020 • The global shortage of shipping containers has led to a sharp rise in transport costs from Asia to Europe thus further restricting supplies to Europe. • Additional non-tariff costs related to the new UK customs arrangements with the EU are adding to the cost of imported raw materials into the UK fromEurope.
metals-industrys-reliance-on-china-set-to-rise-as-sanctionsdisrupt-supplies Global Business Impacts: Russia-Ukraine Crisis
  • Factbox
Factbox: Russian metals industry's reliance on China set to rise as sanctions disrupt supplies, available at https://www.spglobal.com/commodity-insights/en/market-insights/latest-news/metals/ 030722-factbox-russian-metals-industrys-reliance-on-china-set-to-rise-as-sanctionsdisrupt-supplies Global Business Impacts: Russia-Ukraine Crisis, available at https://www.dnb.com/perspectives/russia-ukraine-impacts-global-supply-chain.html _________________________________________________________________________________ Esharelife Foundation, Charity no. 1183101