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US

Locally caught fish are full of dangerous chemicals called PFAS

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CNN
 — 

Fish caught in the fresh waters of the nation’s streams and rivers and the Great Lakes contain dangerously high levels of PFOS, short for perfluorooctane sulfonic acid, a known synthetic toxin phased out by the federal government, according to a study of data from the US Environmental Protection Agency.

The chemical PFOS is part of a family of manufactured additives known as perfluoroalkyl and polyfluoroalkyl substances, or PFAS, widely used since the 1950s to make consumer products nonstick and resistant to stains, water and grease damage.

Called “forever chemicals” because they fail to break down easily in the environment, PFAS has leached into the nation’s drinking water via public water systems and private wells. The chemicals then accumulate in the bodies of fish, shellfish, livestock, dairy and game animals that people eat, experts say.

“The levels of PFOS found in freshwater fish often exceeded an astounding 8,000 parts per trillion,” said study coauthor David Andrews, a senior scientist at Environmental Working Group, the nonprofit environmental health organization that analyzed the data. The report was published Wednesday in the journal Environmental Research.

In comparison, the EPA has allowed only 70 parts per trillion of PFOS in the nation’s drinking water. Due to growing health concerns, in 2022 the EPA recommended the allowable level of PFOS in drinking water be lowered from 70 to 0.02 parts per trillion.

“You’d have to drink an incredible amount of water — we estimate a month of contaminated water — to get the same exposure as you would from a single serving of freshwater fish,” Andrews said.

“Consuming even a single (locally caught freshwater) fish per year can measurably and significantly change the levels of PFOS in your blood,” Andrews said.

Chemicals in the PFAS family are linked to high cholesterol, cancer and various chronic diseases, as well as a limited antibody response to vaccines in both adults and children, according to a report by the National Academies of Sciences, Engineering, and Medicine.

“This is an important paper,” said toxicologist Linda Birnbaum, former director of the National Institute for Environmental Health Sciences and the National Toxicology Program.

“To find this level of contamination in fish across the country, even in areas not close to industry where you might expect heavy contamination, is very concerning. These chemicals are everywhere,” she said.

Read more: Doctors should test levels of PFAS in people at high risk, report says

It’s nearly impossible to avoid PFAS, experts say. Manufacturers add the chemicals to thousands of products, including nonstick cookware, mobile phones, carpeting, clothing, makeup, furniture and food packaging.

A 2020 investigation found PFAS in the wrapping of many fast foods and “environmentally friendly” molded fiber bowls and containers.

A 2021 study found PFAS in 52% of tested cosmetics, with the highest levels in waterproof mascara (82%), foundations (63%) and long-lasting lipstick (62%). Polytetrafluoroethylene, the coating on nonstick pans, was the most common additive.

Read more: Makeup may contain potentially toxic chemicals called PFAS, study finds

In fact, PFAS chemicals have been found in the blood serum of 98% of Americans, according to a 2019 report using data from the US Centers for Disease Control and Prevention’s National Health and Nutrition Examination Survey.

“These chemicals are ubiquitous in the American environment. More than 2,800 communities in the US, including all 50 states and two territories, have documented PFAS contamination,” Dr. Ned Calonge, an associate professor of epidemiology at the Colorado School of Public Health and chair of the Academies committee that wrote the report, told CNN previously.

Read more: Dangerous chemicals found in food wrappers at major fast-food restaurants and grocery chains, report says

Scientists at the Environmental Working Group used data from the EPA’s own monitoring programs — the National Rivers and Streams Assessment, which has been periodically testing stream conditions since 2008, and the Great Lakes Human Health Fish Fillet Tissue Study, which tests lake water every five years.

“The analysis focused on EPA wild-caught fish in rivers, streams and throughout the Great Lakes from 2013 to 2015 as that was the latest data available,” Andrews said.

The contamination was widespread, impacting “nearly every fish across the country,” he said. “I believe there was one sample without detected levels of PFOS.”

The EWG created an interactive map of the results with details for each state. Fish caught near urban areas contained nearly three times more PFOS and overall PFAS than those caught in nonurban locations, the study found. The highest levels were found in fish from the Great Lakes.

The analysis showed PFOS accounted for an average 74% of the contamination in the fish. The remaining 25% was a mixture of other PFAS known to be equally damaging to human health, Andrews said.

CNN reached out to the EPA for comment but did not hear back before this story published.

Based on the study’s findings, people who fish for sport might “strongly” consider releasing their catch instead of taking the fish home for a meal, Andrews said.

Yet many people in lower socioeconomic groups, indigenous peoples and immigrants in the US rely on eating freshly caught fish.

“They need it for food or because it’s their culture,” Birnbaum said. “There are Native American tribes and Burmese immigrants and others who fish because this is who they are. This is key to their culture. And you can’t just tell them not to fish.”

Read more: Water- and stain-resistant products contain toxic plastics, study says. Here’s what to do

The predominant chemical in the fish, PFOS, and its sister perfluorooctanoic acid, or PFOA, are known as “long-chain” PFAS, made from an 8-carbon chain.

Read more: Plastics and pesticides: Health impacts of synthetic chemicals in US products doubled in last 5 years, study finds

Manufacturers agreed in the early 2000s to voluntarily stop using long-chain PFAS in US consumer products, although they can still be found in some imported items. Due to growing health concerns, the use of PFOS and PFOA in food packaging was phased out in 2016 by the US Food and Drug Administration.

However, industry reworked the chemicals by making them into 4- and 6-carbon chains — today over 9,000 different PFAS exist, according to the CDC. Experts say these newer versions appear to have many of the same dangerous health effects as the 8-chain PFAS, leaving consumers and the environment still at risk.

Many of these longer-chain PFAS can be stored for years in different organs in the human body, according to the National Academies report. Scientists are examining the impact of newer versions.

“Some of these chemicals have half-lives in the range of five years,” National Academies report committee member Jane Hoppin, an environmental epidemiologist and director of the Center for Human Health and the Environment at North Carolina State University in Raleigh, told CNN previously.

Read more: FDA must do more to regulate thousands of chemicals added to your food, petitioners say

“Let’s say you have 10 nanograms of PFAS in your body right now. Even with no additional exposure, five years from now you would still have 5 nanograms,” she said. “Five years later, you would have 2.5 and then five years after that, you’d have one 1.25 nanograms. It would be about 25 years before all the PFAS leave your body.”

That’s why it’s “no surprise” to find such high levels of PFOA in freshwater fish, said the director of environmental pediatrics at NYU Langone Health, Dr. Leonardo Trasande, who was not involved in the new study.

“These truly are ‘forever chemicals,’” Trasande said. “This reinforces the reality that we need to get all PFAS out of consumer products and people’s lives.”

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Business

The steep plunge in used car prices — what it means, and what’s ahead

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New York
CNN
 — 

Tracking used car prices is enough to give anyone whiplash.

Since the start of the pandemic and the resulting disruptions to new car supply chains first sent prices soaring, used car prices posted their largest annual increase on record – up 45% in the 12 months ending in June 2021, according to the Consumer Price Index – before swinging to a 12-month drop of 8.8% in the most recent reading for December.

That was the biggest 12-month plunge in prices for used cars since June 2009, when General Motors and Chrysler were both in bankruptcy proceedings and the economy was hemorrhaging a half-million jobs a month.

“It was a completely wild ride,” said Ivan Drury, director of insights at Edmunds.com Inc., an online resources for inventory and information on cars.

Data from Edmunds shows the average price of a used car purchase in December at $29,533, down nearly $1,600 from the record high of $31,095 reached in April 2022. Today’s average used car price is about the same as the average new car price as recently as 2010.

While the prices of late model used cars are down only 5% off their peak according according to Edmunds, the price of older used cars, those five years or older, have fallen 15% or more from their peaks early in 2022.

Experts say reasons for the decline include higher interest rates that make it more expensive to finance a car purchase, limiting demand. CarMax

(KMX), the nation’s largest pure used car dealer, has warned that the combination of high prices and high interest rates is creating an affordability problem for many buyers, hurting overall demand.

But the leading reason for the drop in used car prices is the increased supply of new cars.

It was the lack of new car inventory that drove up prices. Parts shortages, especially for computer chips, had choked off production of new cars in much of 2022, causing the lowest level of full-year US new car sales since 2011.

The low supply of new cars caused an even bigger jump in the average price of used cars, as buyers who would otherwise buy new vehicles turned to the used car market.

“At one point it seemed that everyone who was going to buy new ended up buying used,” said Greg Markus, executive vice president of AutoLenders, parent company of New Jersey’s largest used car dealership chain.

That included rental car companies, which before the pandemic normally bought about 10% or more new cars per year. With limited inventory of cars to sell, automakers essentially stopped making lower-priced fleet sales, and even rental car companies were forced to turn to the used car market.

All that has started to change in recent months. Automakers are reporting more supplies of the chips they need, and are producing and selling more cars, including a return of fleet sales. Overall, sales were up 9% in the fourth quarter compared to a year ago, and nearly 6% higher than in the third quarter, according to Cox Automotive. And with more buyers finding the new cars they want, that means lower demand for used cars.

Experts say part of the decline in used car prices is that the price increases were not sustainable and were partly driven by buyers at used car auctions overpaying for the limited supply of used vehicles.

“There was nowhere for these prices to go but down,” said Markus.

There could be more declines in used car prices in the months ahead, as new car inventories continue to build. One thing that could put a floor under the used car prices: late model used cars will likely be in short supply given the reduced new car production over the last three years.

“The supply issue is still grim,” said Markus. Because of that, “I don’t think we’re getting down to 2019 levels,” he added.

The run-up in used car prices was a major driver in the nation’s overall inflation rate, adding about a full percentage point to the overall increase in consumer prices from April of 2021 through May of 2022. Now it’s a factor helping to bring down the pace of inflation, shaving more than a third of a point off the overall rate in December.

This is obviously good news for those wanting or needing to buy a used car, though it can have a negative effect on car buyers by reducing the value of vehicle they hope to trade in. Edmunds shows the average trade-in value in December down nearly $3,000, or 11%, to $22,605, from the record high hit in June of 2022.

That drop in the value of trade-ins could also be a headwind on car prices by reducing what buyers are able to pay.

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World

CNN Exclusive: A single Iranian attack drone found to contain parts from more than a dozen US companies

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Washington
CNN
 — 

Parts made by more than a dozen US and Western companies were found inside a single Iranian drone downed in Ukraine last fall, according to a Ukrainian intelligence assessment obtained exclusively by CNN.

The assessment, which was shared with US government officials late last year, illustrates the extent of the problem facing the Biden administration, which has vowed to shut down Iran’s production of drones that Russia is launching by the hundreds into Ukraine.

CNN reported last month that the White House has created an administration-wide task force to investigate how US and Western-made technology – ranging from smaller equipment like semiconductors and GPS modules to larger parts like engines – has ended up in Iranian drones.

Of the 52 components Ukrainians removed from the Iranian Shahed-136 drone, 40 appear to have been manufactured by 13 different American companies, according to the assessment.

The remaining 12 components were manufactured by companies in Canada, Switzerland, Japan, Taiwan, and China, according to the assessment.

The options for combating the issue are limited. The US has for years imposed tough export control restrictions and sanctions to prevent Iran from obtaining high-end materials. Now US officials are looking at enhanced enforcement of those sanctions, encouraging companies to better monitor their own supply chains and, perhaps most importantly, trying to identify the third-party distributors taking these products and re-selling them to bad actors.

NSC spokesperson Adrienne Watson told CNN in a statement that “We are looking at ways to target Iranian UAV production through sanctions, export controls, and talking to private companies whose parts have been used in the production. We are assessing further steps we can take in terms of export controls to restrict Iran’s access to technologies used in drones.”

There is no evidence suggesting that any of those companies are running afoul of US sanctions laws and knowingly exporting their technology to be used in the drones. Even with many companies promising increased monitoring, controlling where these highly ubiquitous parts end up in the global market is often very difficult for manufacturers, experts told CNN. Companies may also not know what they are looking for if the US government has not caught up with and sanctioned the actors buying and selling the products for illicit purposes.

And the Ukrainian intelligence assessment is further proof that despite sanctions, Iran is still finding an abundance of commercially available technology. For example, the company that built the downed drone, Iran Aircraft Manufacturing Industries Corporation (HESA), has been under US sanctions since 2008.

One major issue is that it is far easier for Russian and Iranian officials to set up shell companies to use to purchase the equipment and evade sanctions than it is for Western governments to uncover those front companies, which can sometimes take years, experts said.

“This is a game of Whack-a-Mole. And the United States government needs to get incredibly good at Whack-a- Mole, period,” said former Pentagon official Gregory Allen, who now serves as Director of the Artificial Intelligence Governance Project at the Center for Strategic and International Studies. “This is a core competency of the US national security establishment – or it had better become one.”

Allen, who recently co-authored an investigation into the efficacy of US export controls, said ultimately, “there is no substitute for robust, in-house capabilities in the US government.”

He cautioned that it is not an easy job. The microelectronics industry relies heavily on third party distributors and resellers that are difficult to track, and the microchips and other small devices ending up in so many of the Iranian and Russian drones are not only inexpensive and widely available, they are also easily hidden.

“Why do smugglers like diamonds?” Allen said. “Because they’re small, lightweight, and worth a ton of money. And unfortunately, computer chips have similar properties.” Success won’t necessarily be measured in stopping 100% of transactions, he added, but rather in making it more difficult and expensive for bad actors to get what they need.

The rush to stop Iran from manufacturing the drones is growing more urgent as Russia continues to deploy them across Ukraine with relentless ferocity, targeting both civilian areas and key infrastructure. Russia is also preparing to establish its own factory to produce them with Iran’s help, according to US officials. On Monday, Ukrainian President Volodymyr Zelensky said that Ukrainian forces had shot down more than 80 Iranian drones in just two days.

Zelensky also said that Ukraine had intelligence that Russia “is planning a prolonged attack with Shaheds,” betting that it will lead to the “exhaustion of our people, our air defense, our energy sector.”

A separate probe of Iranian drones downed in Ukraine, conducted by the UK-based investigative firm Conflict Armament Research, found that 82% of the components had been manufactured by companies based in the US. 

Damien Spleeters, the Deputy Director of Operations at Conflict Armament Research, told CNN that sanctions will only be effective if governments continue to monitor what parts are being used and how they got there.

“Iran and Russia are going to try to go around those sanctions and will try to change their acquisition channels,” Spleeters said. “And that’s precisely what we want to focus on: getting in the field and opening up those systems, tracing the components, and monitoring for changes.”

Experts also told CNN that if the US government wants to beef up enforcement of the sanctions, it will need to devote more resources and hire more employees who can be on the ground to track the vendors and resellers of these products.

“Nobody has really thought about investing more in agencies like the Bureau of Industry Security, which were really sleepy parts of the DC national security establishment for a few decades,” Allen, of CSIS, said, referring to a branch of the Commerce Department that deals primarily with export controls enforcement. “And now, suddenly, they’re at the forefront of national security technology competition, and they’re not being resourced remotely in that vein.”

According to the Ukrainian assessment, among the US-made components found in the drone were nearly two dozen parts built by Texas Instruments, including microcontrollers, voltage regulators, and digital signal controllers; a GPS module by Hemisphere GNSS; a microprocessor by NXP USA Inc.; and circuit board components by Analog Devices and Onsemi. Also discovered were components built by International Rectifier – now owned by the German company Infineon – and the Swiss company U-Blox.

CNN sent emailed requests for comment last month to all the companies identified by the Ukrainians. The six that responded emphasized that they condemn any unauthorized use of their products, while noting that combating the diversion and misuse of their semiconductors and other microelectronics is an industry-wide challenge that they are working to confront.

“TI is not selling any products into Russia, Belarus or Iran,” Texas Instruments said in a statement. ” TI complies with applicable laws and regulations in the countries where we operate, and partners with law enforcement organizations as necessary and appropriate. Additionally, we do not support or condone the use of our products in applications they weren’t designed for.”

Gregor Rodehuser, a spokesperson for the German semiconductor manufacturer Infineon, told CNN that “our position is very clear: Infineon condemns the Russian aggression against Ukraine. It is a blatant violation of international law and an attack on the values of humanity.” He added that “apart from the direct business it proves difficult to control consecutive sales throughout the entire lifetime of a product. Nevertheless, we instruct our customers including distributors to only conduct consecutive sales in line with applicable rules.”

Analog Devices, a semiconductor company headquartered in Massachusetts, said in a statement that they are intensifying efforts “to identify and counter this activity, including implementing enhanced monitoring and audit processes, and taking enforcement action where appropriate…to help to reduce unauthorized resale, diversion, and unintended misuse of our products.”

Jacey Zuniga, director of corporate communications for the Austin, Texas-based semiconductor company NXP USA, said that the company “complies with all applicable export control restrictions and sanctions imposed by the countries in which we operate. Military applications are not a focus area for NXP. As a company, we are vehemently opposed to our products being used for human rights violations.”

Phoenix, Arizona-based semiconductor manufacturing company Onsemi also said it complies with “applicable export control and economic sanctions laws and regulations and does not sell directly or indirectly to Russia, Belarus or Iran nor to any foreign military organizations. We cooperate with law enforcement and government agencies as necessary and appropriate to demonstrate how Onsemi conducts business in accordance with all legal requirements and that we hold ourselves to the highest standards of ethical conduct.”

Swiss semiconductor manufacturer U-Blox also said in a statement that its products are for commercial use only, and that the use of its products for Russian military equipment “is in clear breach of u-blox’s conditions of sale applicable to customers and distributors alike.”

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Business

PCE, the Fed’s preferred inflation gauge, shows prices cooling

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Minneapolis
CNN
 — 

The trend is clear: Inflation is cooling off in America.

The Federal Reserve’s preferred measurement of inflation showed price increases continued to moderate in November, providing yet another welcome indication that the period of painfully high prices has peaked.

The Personal Consumption Expenditures price index, or PCE, rose 5.5% in November from a year earlier, the Commerce Department reported Friday. That’s lower than in October, when prices rose 6.1% annually.

In November alone, prices rose just 0.1% from October.

Core PCE, which excludes the volatile food and energy categories, was up 4.7% annually and 0.2% on a monthly basis, matching expectations of economists polled by Refinitiv.

The annual increases for both PCE inflation indexes hit their lowest levels since October 2021 and follows continued declines in other inflation gauges, such as the Consumer Price Index and Producer Price Index.

PCE, specifically the core measurement, is the Fed’s favored inflation gauge, since it provides a more complete picture of costs for consumers.

Friday’s report also showed that spending continued to rise in November, but at a much slower pace than in previous months. Spending was up 0.1% in November as compared to 0.8% the month before. Personal income increased by 0.4% in November, down from 0.7% in October.

The November PCE report, the last major inflation gauge released in 2022, provided a snapshot of an economy in transition. Tasked with reining in the highest inflation since the early 1980s, the Fed has undertaken a series of blockbuster interest rate hikes to squelch demand.

In its seven meetings starting in March, the central bank’s policymaking arm raised its benchmark interest rate by a cumulative 4.25 percentage points. The sharp hike in rates has started to filter through the economy, its effects showing up first in areas such as real estate, where mortgage rates were 6.27% this week, more than double the rate seen last year at this time, according to Freddie Mac data.

“The economy is moving in the right direction from the Federal Reserve’s perspective at the end of 2022, but not quickly enough,” Gus Faucher, chief economist for PNC Financial Services, said in a statement. “Higher interest rates are weighing on consumer spending, particularly for durable goods, and inflation is slowing.”

Inflation has moderated in recent months, especially on items like goods as supply chain bottlenecks have eased and consumers focused more spending in areas like leisure and hospitality.

However, inflation within the services sector has been a little “sticky,” and not abating as quickly. Friday’s PCE report showed the services index posted a monthly increase of 0.4% – unchanged from October’s rate – and a year-over-year increase of more than 11%, Faucher noted.

While much of the services inflation is due to housing costs, which are rapidly reversing, the Fed is concerned that strong wage growth could fuel persistent increases in services prices and overall inflation, he added.

“The Federal Open Market Committee will continue to increase the fed funds rate in early 2023 until it becomes more apparent that the job market is cooling, and wage growth and services inflation are slowing to more sustainable paces,” he added.

The Fed’s latest economic projections that were released last week showed that board members were expecting inflation to remain slightly higher for longer than previously forecast. Fed board members now expect PCE inflation to end 2023 at 3.1% and core PCE to finish next year at 3.5%, above the central bank’s target rate of 2%.

A separate Commerce Department report released Friday showed that new orders for manufactured goods tumbled 2.1% in November, the biggest monthly drop since the onset of the pandemic.

Transportation equipment, specifically new orders for non-defense aircraft and parts, drove the decline, according to the report. Excluding transportation, new orders increase 0.2%.

Shipments increased 0.2% in November, which followed a 0.4% increase in October.

“Core durable goods orders slowed but did not contract, reflecting growing unease about the economy,” Diane Swonk, chief economist for KPMG, tweeted Friday after the report’s release. “Manufacturing activity has begun to contract and prelim reading for December suggests it will contract further at year end. A cold winter expected for the manufacturing sector.

Inflation’s slow march downward has been welcome news to consumers as well, helping to perk up their economic sentiments during December, according to new data released Friday by the University of Michigan.

The final December reading for the index of consumer sentiment came in at 59.7 in December, up slightly from a preliminary measurement of 59.1 and November’s final reading of 56.8, according to data from the university’s Surveys of Consumers.

“Consumers clearly welcomed the recent easing of inflation,” Joanne Hsu, director of the Surveys of Consumers, said in a statement. “While sentiment appears to have turned a corner from its all-time low from June, consumers have reserved judgment about whether the trends will continue.”

She added: “Their outlook for the economy may have improved, but it remains relatively weak. The sustainability of robust consumer spending is contingent on continued strength in incomes and labor markets in the quarters ahead.”

The report showed the biggest improvement in sentiment about business conditions, while inflation expectations also improved by falling to 4.4% in December, the lowest reading in 18 months, according to the university. This is a key data point for the Federal Reserve. If consumers believe prices will remain high, that could factor into increased wage demands, which could cause businesses to raise prices.

Earlier this week, the Conference Board’s consumer confidence index – another measure of how consumers are feeling about the economy – landed at its highest measurement since April 2022.



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World

Taiwan’s military has a problem: As China fears grow, recruitment pool shrinks

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Taipei, Taiwan
CNN
 — 

Taiwan has noticed a hole in its defense plans that is steadily getting bigger. And it’s not one easily plugged by boosting the budget or buying more weapons.

The island democracy of 23.5 million is facing an increasing challenge in recruiting enough young men to meet its military targets and its Interior Ministry has suggested the problem is – at least in part – due to its stubbornly low birth rate.

Taiwan’s population fell for the first time in 2020, according to the ministry, which warned earlier this year that the 2022 military intake would be the lowest in a decade and that a continued drop in the youth population would pose a “huge challenge” for the future.

That’s bad news at a time when Taiwan is trying to bolster its forces to deter any potential invasion by China, whose ruling Communist Party has been making increasingly belligerent noises about its determination to “reunify” with the self-governed island – which it has never controlled – by force if necessary.

And the outlook has darkened further with the release of a new report by Taiwan’s National Development Council projecting that by 2035 the island can expect roughly 20,000 fewer births per year than the 153,820 it recorded in 2021. By 2035, Taiwan will also overtake South Korea as the jurisdiction with the world’s lowest birth rate, the report added.

Such projections are feeding into a debate over whether the government should increase the period of mandatory military service that eligible young men must serve. Currently, the island has a professional military force made up of 162,000 (as of June this year) – 7,000 fewer than the target, according to a report by the Legislative Yuan. In addition to that number, all eligible men must serve four months of training as reservists.

Changing the mandatory service requirement would be a major U-turn for Taiwan, which had previously been trying to cut down on conscription and shortened the mandatory service from 12 months as recently as 2018. But on Wednesday, Taiwan’s Minister of National Defence Chiu Kuo-cheng said such plans would be made public before the end of the year.

That news has met with opposition among some young students in Taiwan, who have voiced their frustrations on PTT, Taiwan’s version of Reddit, even if there is support for the move among the wider public.

A poll by the Taiwanese Public Opinion Foundation in March this year found that most Taiwanese agreed with a proposal to lengthen the service period. It found that 75.9% of respondents thought it reasonable to extend it to a year; only 17.8% were opposed.

Many experts argue there is simply no other option.

Su Tzu-yun, a director of Taiwan’s Institute for National Defense and Security Research, said that before 2016, the pool of men eligible to join the military – either as career soldiers or as reservists – was about 110,000. Since then, he said, the number had declined every year and the pool would likely be as low as 74,000 by 2025.

And within the next decade, Su said, the number of young adults available for recruitment by the Taiwanese military could drop by as much as a third.

“This is a national security issue for us,” he said. “The population pool is decreasing, so we are actively considering whether to resume conscription to meet our military needs.

“We are now facing an increasing threat (from China), and we need to have more firepower and manpower.”

Taiwan’s low birth rate – 0.98 – is far below the 2.1 needed to maintain a stable population, but it is no outlier in East Asia.

In November, South Korea broke its own world record when its birth rate dropped to 0.79, while Japan’s fell to 1.3 and mainland China hit 1.15.

Even so, experts say the trend poses a unique problem for Taiwan’s military, given the relative size of the island and the threats it faces.

China has been making increasingly aggressive noises toward the island since August, when then-US House Speaker Nancy Pelosi controversially visited Taipei. Not long after she landed in Taiwan, Beijing also launched a series of unprecedented military exercises around the island.

Since then, the temperature has remained high – particularly as Chinese leader Xi Jinping told a key Communist Party meeting in October that “reunification” was inevitable and that he reserves the option of taking “all measures necessary.”

Chang Yan-ting, a former deputy commander of Taiwan’s air force, said that while low birth rates were common across East Asia, “the situation in Taiwan is very different” as the island was facing “more and more pressure (from China) and the situation will become more acute.”

“The United States has military bases in Japan and South Korea, while Singapore does not face an acute military threat from its neighbors. Taiwan faces the greatest threat and declining birth rate will make the situation even more serious,” he added.

Roy Lee, a deputy executive director at Taiwan’s Chung-hua Institution for Economic Research, agreed that the security threats facing Taiwan were greater than those in the rest of the region.

“The situation is more challenging for Taiwan, because our population base is smaller than other countries facing similar problems,” he added.

Taiwan’s population is 23.5 million, compared to South Korea’s 52 million, Japan’s 126 million and China’s 1.4 billion.

Besides the shrinking recruitment pool, the decline in the youth population could also threaten the long-term performance of Taiwan’s economy – which is itself a pillar of the island’s defense.

Taiwan is the world’s 21st largest economy, according to the London-based Centre for Economics and Business Research, and had a GDP of $668.51 billion last year.

Much of its economic heft comes from its leading role in the supply of semiconductor chips, which play an indispensable role in everything from smartphones to computers.

Taiwan’s homegrown semiconductor giant TSMC is perceived as being so valuable to the global economy – as well as to China – that it is sometimes referred to as forming part of a “silicon shield” against a potential military invasion by Beijing, as its presence would give a strong incentive to the West to intervene.

Lee noted that population levels are closely intertwined with gross domestic product, a broad measure of economic activity. A population decline of 200,000 people could result in a 0.4% decline in GDP, all else being equal, he said.

“It is very difficult to increase GDP by 0.4%, and would require a lot of effort. So the fact that a declining population can take away that much growth is big,” he said.

Taiwan’s government has brought in a series of measures aimed at encouraging people to have babies, but with limited success.

It pays parents a monthly stipend of 5,000 Taiwan dollars (US$161) for their first baby, and a higher amount for each additional one.

Since last year, pregnant women have been eligible for seven days of leave for obstetrics checks prior to giving birth.

Outside the military, in the wider economy, the island has been encouraging migrant workers to fill job vacancies.

Statistics from the National Development Council showed that about 670,000 migrant workers were in Taiwan at the end of last year – comprising about 3% of the population.

Most of the migrant workers are employed in the manufacturing sector, the council said, the vast majority of them from Vietnam, Indonesia, Thailand and the Philippines.

Lee said in the long term the Taiwanese government would likely have to reform its immigration policies to bring in more migrant workers.

Still, there are those who say Taiwan’s low birth rate is no reason to panic, just yet.

Alice Cheng, an associate professor in sociology at Taiwan’s Academia Sinica, cautioned against reading too much into population trends as they were affected by so many factors.

She pointed out that just a few decades ago, many demographers were warning of food shortages caused by a population explosion.

And even if the low birth rate endured, that might be no bad thing if it were a reflection of an improvement in women’s rights, she said.

“The educational expansion that took place in the 70s and 80s in East Asia dramatically changed women’s status. It really pushed women out of their homes because they had knowledge, education and career prospects,” she said.

“The next thing you see globally is that once women’s education level improved, fertility rates started declining.”

“All these East Asian countries are really scratching their head and trying to think about policies and interventions to boost fertility rates,” she added.

“But if that’s something that really, (women) don’t want, can you push them to do that?”

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World

Why people in China are panic buying canned yellow peaches as Covid surges

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Hong Kong
CNN
 — 

An unprecedented wave of Covid cases in China has sparked panic buying of fever medicines, pain killers, and even home remedies such as canned peaches, leading to shortages online and in stores.

Authorities said Wednesday they had detected 2,249 symptomatic Covid-19 cases nationally through nucleic acid testing, 20% of which were detected in the capital Beijing. CNN reporting from the city indicates the case count in the Chinese capital could be much higher than recorded.

Demand for fever and cold medicines, such as Tylenol and Advil, is surging nationally as people rush to stockpile drugs amid fears they may contract the virus.

Canned yellow peaches, considered a particularly nutritious delicacy in many parts of China, have been snapped up by people looking for ways to fight Covid. The product is currently sold out on many online shops.

Its sudden surge in popularity prompted Dalian Leasun Food, one of the country’s largest canned food manufacturers, to clarify in a Weibo post that canned yellow peaches don’t have any medicinal effect.

“Canned yellow peaches ≠ medicines!” the company said in the post published Friday. “There is enough supply, so there is no need to panic. There is no rush to buy.”

The People’s Daily, the mouthpiece of the Communist Party, also tried to set the record straight. It published a long Weibo post on Sunday urging the public not to stockpile the peaches, calling them “useless in alleviating symptoms of illness.”

Authorities also pleaded with the public not to stockpile medical supplies. On Monday, the Beijing city government warned residents that it was facing “great pressure” to meet demand for drug and medical services because of panic buying and an influx of patients at clinics.

It urged the public not to hoard drugs or call emergency services if they have no symptoms.

The rising demand and shortage of supply of Covid remedies have fueled bets on drugmakers.

Shares of Hong Kong-listed Xinhua Pharmaceutical, China’s largest manufacturer of ibuprofen, have gained 60% in the past five days. The stock has so far jumped by 147% in the first two weeks of this month.

“Our company’s production lines are operating at full capacity, and we are working overtime to produce urgently needed medicines, such as ibuprofen tablets,” Xinhua Pharmaceutical said Monday.

Ibuprofen is an anti-inflammatory drug used to treat pain and fever. It is also known as Advil, Brufen, or Fenbid.

The drug shortage has spread from mainland China to Hong Kong, a special administrative region which has a separate system of local government. On Sunday, the city’s health chief urged the public to refrain from panic buying cold medicines they do not need and urged residents “not to overact.”

In some Hong Kong drugstores, fever drugs such as Panadol, the local brand name for Tylenol, have sold out. Most of the buyers were sending the medicines to their families and friends in the mainland, sales representatives told CNN.

Shares of Shenzhen-listed Guizhou Bailing Group Pharmaceuticals, known for making cough syrup, have gained 21% this week and risen 51% so far this month. Yiling Pharmaceutical, the sole producer of Lianhua Qingwen, a traditional Chinese medicine recommended by the government for treating Covid, has also jumped more than 30% in the past month.

Even providers of funeral services and burial plots have gotten a huge boost. Shares in Hong Kong-traded Fu Shou Yuan International, China’s largest burial service company, have soared more than 50% since last month.

There is “strong pent-up demand for burial plots” in 2023, analysts from Citi Group said in a recent research report, adding that they’ve noticed increasing investor interest in the sector.

They cited the existence of hundreds of thousands of cremated remains, which are being temporarily stored in government facilities awaiting burial. Lockdowns across much of the country have halted funeral services, they said.

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Business

Bernard Arnault just became the world’s richest person. So who is he?

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London
CNN
 — 

Bernard Arnault, the chairman of French luxury goods giant LVMH

(LVMHF), has just become the first European to top Bloomberg’s list of the world’s richest people, relegating Elon Musk to second place.

Now worth $171 billion, Arnault’s wealth eclipsed the Tesla CEO’s $164 billion fortune on Tuesday, according to the Bloomberg Billionaires Index. Arnault had already ousted Musk from the top spot on Forbes’ list of “Real Time Billionaires” last week.

Musk’s net worth has tumbled by $107 billion this year, according to the Bloomberg Billionaires Index. Arnault’s wealth, which stems from his controlling stake in LVMH, has suffered a more modest $7 billion decline.

The divergence is partly down to the stock performance of the companies in which the pair own shares. Musk’s purchase of Twitter

(TWTR) hasn’t helped either. Still, he is in no imminent danger of falling further down the list: His fortune remains comfortably bigger than that of Indian industrialist Gautam Adani ($125 billion) and Amazon

(AMZN) founder Jeff Bezos ($116 billion), who rank third and fourth on Bloomberg’s list.

While Tesla

(TSLA)’s share price has plummeted 54% this year, LVMH stock has held steady, supported by robust sales in the United States and Europe. The luxury market has remained relatively steady this year, even as surging inflation has led less-affluent shoppers to change their spending habits. LVMH has a market value of €362.4 billion ($386 billion).

Born in Roubaix in the north of France in 1949, Arnault graduated from the prestigious École Polytechnique, an engineering school in Paris. He began his career in the family-owned construction company, Ferret-Savinel, becoming chairman in 1978 after successive promotions.

Six years later, he got wind that the French government was looking for a new investor to take over Boussac Saint-Freres. The bankrupt textile group owned a key asset: Christian Dior, a celebrated French fashion house.

Arnault bought control of the group, returning it to profitability and embarking on a strategy to develop the world’s leading luxury goods company. “In the process, he reinvigorated Christian Dior as the cornerstone of the new organization,” according to a biography on the LVMH website.

Arnault bought a controlling stake in LVMH in 1989, two years after the group was formed by the merger of Louis Vuitton and Moët Hennessy. He has been chairman and CEO of the company ever since.

Although his own name may not be immediately recognizable to many, the brands that Arnault has been instrumental in growing — from Christian Dior to Dom Pérignon — have become household names.

Over the past three decades, Arnault has turned LVMH into a luxury goods powerhouse with 75 labels selling wine, spirits, fashion, leather goods, perfumes, cosmetics, watches, jewelery, luxury travel and hotel stays. He opened China’s first Louis Vuitton store in Beijing in 1992.

In January 2021, the group completed its $15.8 billion takeover of iconic US jeweler Tiffany & Co, the luxury industry’s biggest ever acquisition.

Arnault’s philanthropic endeavors are pursued mainly through LVMH, which focuses its patronage on arts and culture. In 2019, the group donated €200 million ($212 million) to help rebuild Notre Dame after a massive fire ripped through the Paris cathedral.

Arnault has long held the title of Europe’s richest person, but the 73-year old keeps a much lower profile than Musk and isn’t personally active on any major social media platforms. In October, he told the LVMH-owned Radio Classique that he sold his private jet because he had been Twitter-shamed over his frequent use of the plane.

Arnault is married and has five children, all of whom currently work at LVMH or one of its brands, according to Bloomberg.

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US

Brittney Griner: After meager rations in a Russian penal colony, the basketball star is welcomed back to the US with a Christmas tree and barbecue

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CNN
 — 

Freed from a Russian penal colony and back on American soil, WNBA star Brittney Griner got her first taste of a return to normal life over the weekend at a Texas military facility.

The Olympic gold medalist arrived Friday at Brooke Army Medical Center in San Antonio and is now staying with her wife, Cherelle Griner, in a residential environment on the base – one her agent, Lindsay Kagawa Colas, decorated with a Christmas tree.

Griner, 32, is “upbeat, thankful and hopeful,” Colas told CNN, after returning to the states from what US officials deemed wrongful detention in Russia.

For Griner – who spent nearly 10 months in Russian custody – “normal” has meant indulging in her favorites, including a Dr Pepper soda, the first drink she had in the airplane hangar after landing.

Griner’s relatives also have visited her off and on for hours, bringing San Antonio barbecue for her to enjoy.

The athlete has been eating far more nutritious food and supplements compared with her time in detention, Colas said. “Her energy level was really high,” she added.

Griner also got a haircut to clean up her “Russian fade,” as her friends and family jokingly call it, Colas said. Griner’s long, signature dreadlocks were cut while in captivity as she continuously battled the flu because her wet hair kept freezing, Colas said.

At the Texas military base, Griner hit the basketball court for the first time since she was imprisoned: Her first move was a dunk. Months ago, in pre-trial detention in Russia, Griner was offered a basketball and a hoop, but she declined to play, Colas said.

“I think it’s fair to say that her picking up a ball voluntarily and the first thing being a dunk … it was really encouraging,” Colas said. “She was really excited.”

Griner seems to be in good physical health, but whether she returns to the WNBA in the spring season will be up to her, according to Colas.

“Is she going to be ready? We’ll see,” Colas said.

Griner arrived at the San Antonio medical facility for a routine evaluation after her release Thursday as part of a prisoner exchange between the US and Russia for notorious convicted arms dealer Viktor Bout.

Concerns had grown that Griner was being used as a political pawn amid Russia’s war on Ukraine after she was arrested on drug charges in February at an airport in Russia, where she plays basketball in the WNBA off-season, then later sentenced to nine years in prison.

Now, Griner’s focus will be on recuperating, including getting physical and psychological support from the government to help with her reintegration.

“She’s had a lot of psychological support,” Colas said. “The resources are very robust. It’s very supportive and very BG-centered. It’s about her developing agency.”

That care is heavily focused on helping formerly captive people regain a sense of control over their lives after lengthy detentions. Griner opted into the Department of Defense’s post-isolation program, which other wrongfully detained Americans, including Trevor Reed, have participated in, Colas said; Reed is former Marine released in April after three years of wrongful detention in Russia.

It’s not clear how long Griner and her wife will stay in San Antonio, but the decision is hers, Colas said.

But what’s become clear is that “normal” will always look different after the ordeal Griner went through. For security reasons, for instance, the Griners have already begun the process of finding a new home, Colas said.

Though it remains unknown if fans will see Griner back on the basketball court in May, one thing is certain, Colas said: Griner is eager to use her power and influence to help others – especially Paul Whelan, another American still imprisoned in Russia.

“It was one of the first things she asked me about,” Colas said. “She’s very, very concerned about that. And will be sending a message to Paul.”

Whelan already sent a message through US representatives who spoke with him in recent days: “Please tell Brittney that Paul said he’s happy she’s home,” he told her, according to Colas.

“She is absolutely thinking about the future,” Colas said. “She’s already talking about the position that she’s now in to help other people come home.”

Whelan – a US, Irish, British and Canadian citizen – is imprisoned in a Russian penal colony after he was arrested in December 2018 on espionage charges, which he has denied. He was sentenced to 16 years in prison. He, like Griner, has been declared wrongfully detained by US officials.

The US tried to persuade Russia to swap both Griner and Whelan for arms dealer Bout, but Russian officials would not budge on the matter, with Russia saying both of the Americans’ cases were handled differently based on the charges each of them faced.

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US

Brittney Griner is back in the US and dunking again after almost 10 months detained in Russia

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CNN
 — 

Fresh off her elated return to the US after months in Russian custody, two-time Olympic gold medalist Brittney Griner is back on a basketball court.

But her reintegration into American life is far from over, as is the fight by WNBA players for equity as US professional athletes. The issue was highlighted by the 10-month detention of Griner, who’d gone to Russia to play basketball in the WNBA offseason.

Griner’s first move on a Texas basketball court Sunday was a dunk, her agent, Lindsay Kagawa Colas, told CNN on Monday.

Confirming news first reported by ESPN, Colas said Griner wore a pair of black Chuck Taylor shoes, Phoenix Suns shorts and a T-shirt touting Title IX as she played. Months ago, in pre-trial detention in Russia, Griner was offered a basketball and a hoop, but she declined to play, Colas said.

“I think it’s fair to say that her picking up a ball voluntarily and the first thing being a dunk … it was really encouraging,” Colas said. “She was really excited.”

The 32-year-old had arrived two days earlier at Brooke Army Medical Center in San Antonio for routine evaluation after her release Thursday from what US officials deemed wrongful detention. She was freed amid Russia’s war in Ukraine in a prisoner swap for notorious convicted Russian arms dealer Viktor Bout.

It’s not clear how long Griner will stay at the medical center, Colas said.

“She’s had a lot of psychological support,” Colas said. “The resources are very robust. It’s very supportive and very BG centered. It’s about her developing agency.”

Griner’s agent believes she will try to “utilize her fame for good” but did not detail what that would look like. Colas said Griner opted into the Department of Defense’s Post Isolation Support Activities, or PISA, program that has served other wrongfully detained Americans.

It’s also unclear whether the Phoenix Mercury center will return to the WNBA. The 2023 regular season begins May 19, with training camps typically opening a month before.

“If she wants to play, it will be for her to share,” Colas told ESPN’s T.J. Quinn. “She has the holidays to rest and decide what’s next without any pressure. She’s doing really, really well. She seems to have endured this in pretty incredible ways.”

But the fact that Griner typically plays basketball in Russia during her WNBA offseasons highlights the inequities faced by professional female athletes in the US, fellow WNBA players said.

For many years, WNBA players have spent their offseasons playing in international leagues, where they often can earn more money.

“We’ve been talking about the pay disparity for a long time, and players have been going overseas for a long time,” Elizabeth Williams, a Washington Mystics player and secretary for the Women’s National Basketball Players Association, told CNN on Monday.

“I think this is when people are realizing … the dangers and perils of people going overseas and the impact of what those pay equity issues are.”

Griner was arrested on drug charges at a Russian airport in February and sentenced to nine years in prison. As concerns grew that Griner was being used as a political pawn, efforts to negotiate her release took months.

Now back on US soil, it’s not clear how long Griner will stay in Texas for medical evaluation.

“I’m understanding that it’s going to be a few more days before she gets out,” former New Mexico Gov. Bill Richardson told CNN on Sunday.

Richardson and his center privately work on behalf of families of hostages and detainees. He previously traveled to Russia to discuss Griner’s release, as well as Paul Whelan, a US Marine veteran who was wrongfully detained and remains in custody.

Richardson said it’s important to give former detainees like Griner ample time to get settled.

“We’ve got to give them a little space, a little time to readjust because they’ve had a horrendous experience in these Russian prisons,” said Richardson, who served as US ambassador to the United Nations in the Clinton administration.

While held in a Russian penal colony, Griner was unable to perform the work done by many female prisoners due to her size, Griner’s Russian lawyer Maria Blagovolina told ESPN and confirmed to CNN.

Most of the women in the penal colony worked sewing uniforms, but the 6-foot-9 Griner was too tall to sit at a work table, and her hands were too big to manage the sewing. So instead, she carried fabric all day, her attorney said.

On the day of her release, Griner had a feeling she would be going home, said Special Presidential Envoy for Hostage Affairs Roger Carstens, who led the prisoner exchange mission in the United Arab Emirates.

But it didn’t feel real until he boarded the plane and told her: “On behalf of the President of the United States, Joe Biden, and Secretary of State Tony Blinken, I’m here to take you home,” Carstens recalled to CNN.

He described Griner as an intelligent, compassionate, humble and patriotic person who immediately wanted to thank all the crew members who helped her.

“When she finally got onto the US plane, I said, ‘Brittney, you must have been through a lot over the last 10 months. Here’s your seat. Please feel free to decompress. We’ll give you your space,’” Carstens recalled.

“And she said, ‘Oh no. I’ve been in prison for 10 months now listening to Russian, I want to talk. But first of all, who are these guys?’ And she moved right past me and went to every member on that crew, looked them in the eyes, shook their hands and asked about them and got their names, making a personal connection with them. It was really amazing,” Carstens said.

Griner spent 12 hours of an 18-hour flight talking with Carstens “about everything under the sun,” he said.

When the government plane landed at Kelly Field, the person who emerged from the plane looked very different. Her long, signature deadlocks had been cut while in captivity. Griner continuously battled the flu while detained because her hair kept freezing and she was unable to dry them, Colas said.

The new do was not a surprise to her family, though, as she sent word home weeks earlier about her decision to cut her hair, Colas said.

In San Antonio this weekend, she received a real hair cut to clean up her “Russian fade” as her friends and family jokingly call it. After that, she hit the basketball court.

Griner’s life has been forever altered, and adjusting to everyday life could be difficult.

Jorge Toledo – one of the “Citgo 6” – was released in October as part of a prisoner swap after being detained during a 2017 business trip to Venezuela with other oil and gas executives from the Citgo Petroleum Corporation.

After returning home, Toledo told CNN, he’s had trouble sleeping and felt anxiety during normally mundane tasks such as driving.

But Toledo said he was part of a program in San Antonio that involved six days with a group of psychologists. He said the program was “extremely important” for his reintegration and hopes Griner can take advantage of similar resources.

While many celebrate Griner’s return, the fate of another American held in Russia remains uncertain.

Whelan – a US, Irish, British and Canadian citizen – is imprisoned in a Russian penal colony after he was arrested in December 2018 on espionage charges, which he has denied. He was sentenced to 16 years in prison.

With Griner back in the US, Richardson said he’s optimistic about Whelan’s release – noting Russia previously offer a trade for Whelan.

The US tried to persuade Russia to swap both Griner and Whelan for Bout, but Russian officials would not budge on the matter. Russia said the Americans’ cases were handled differently based on the charges each of them faced.

“This was not a choice of which American to bring home,” Biden said last week. “Sadly, for totally illegitimate reasons, Russia is treating Paul’s case differently than Brittney’s. And while we have not yet succeeded in securing Paul’s release, we are not giving up. We will never give up.”

Whelan said he was happy Griner was released, but told CNN, “I am greatly disappointed that more has not been done to secure my release, especially as the four-year anniversary of my arrest is coming up.”

Griner is eager to use power and influence to help others, her agent said, especially Whelan.

“It was one of the first things she asked me about,” Colas said. “She’s very, very concerned about that. And will be sending a message to Paul.”

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Business

Twitter is auctioning off HQ items, including a bird statue and espresso machines

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New York
CNN
 — 

If you’ve ever wanted to own a piece of Twitter’s HQ, the company is auctioning off dozens of items of memorabilia and supplies from its office in San Francisco.

Twitter is cleaning house and looking to offload things like a large Twitter bird statue and a giant “@” sculpture planter. Among the less interesting items include a projector, iMac screens and standing desks. There are also multiple espresso machines and an electric bike charging station.

Twitter/BidSpotter

The online auction opens January 17th and closes the next day, said Heritage Global Partners, the company facilitating the sale. Opening bids for all items range between $25 and $50.

After Elon Musk’s $44 billion Twitter purchase, the billionaire owner enacted a number of cost-cutting measures. He has laid off around half of the company’s staff, resulting in a group of former employees suing, alleging the mass layoffs involved multiple labor rights violations.

“Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” Musk said in a tweet on November 4.

But HGP president Nick Dove said in an interview with Fortune that anyone who thinks the auction is part of preserving finances is a “moron.”

“We don’t determine which assets a company doesn’t need,” Dove told CNN. “Just like a real estate broker doesn’t determine which houses or buildings their client would need to sell.”

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