Global Markets: China ignored Canada’s calls for justice and canola inspections

By MarketsFarm

WINNIPEG, June 13 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– Chinese officials have ignored requests from the Liberal government to meet and discuss the Canadian citizens currently detained in China, according to a recent report from the CBC. “In advance of the January 14 sentencing hearing for Robert Schellenberg, the Prime Minister requested a call with Premier Li Keqiang, so that he could personally advocate for clemency in this case as well as reinforce our repeated call for the immediate release of Michael Kovrig and Michael Spavor,” said PMO spokesperson Chantal Gagnon in a statement. China has similarly ignored requests from Canada to send scientists to inspect claims on contaminants in imported canola, in what The Globe and Mail described as “the worst diplomatic crisis between the two countries in decades.”

– Two oil tankers belonging to Norway and Japan were attacked off the coast of Iran in the Gulf of Oman, driving crude prices up by four per cent. The attacks are the second in a month in this region, which is a thoroughfare for much of the world’s oil supplies. As of Thursday, no group had taken responsibility for the attacks.

– Protestors in Hong Kong continued to clash with police on Thursday over a planned extradition law with mainland China. “We are ready to have a protracted war with the government,” said one protester, Natalie Wong. “I am young, that’s why I have to fight for Hong Kong.” According to recent reports, 79 protestors and two police have been treated for injuries.

– A recent report from the United States Department of Labor showed the number of Americans filing for unemployment benefits shot up last week, adding to concerns that the labour market is slowing down following sharply slowed job growth data for May. A slow labour market and flagging inflation may encourage the Federal Reserve to cut interest rates later in 2019.


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