Growth Slows in April in China’s Manufacturing Sector

Growth in China’s manufacturing sector slowed in April, official data showed Sunday, pointing to an unsteady recovery in the world’s second-largest economy. 

 

The monthly purchasing managers’ index by the Chinese Federation of Logistics and Purchasing fell to 51.2 in April, lower than the 51.8 recorded in March. 

 

The index is based on a 100-point scale on which numbers above 50 indicate expansion.

 

National Bureau of Statistics statistician Zhao Qinghe said in the release that April’s figure was affected by sluggish growth in market demand and supply, and slower expansion in imports and exports.

 

April’s index still represented a ninth consecutive month of expansion. 

 

China saw its slowest growth in nearly three decades in 2016. China’s huge manufacturing sector is seen as an important indicator for the wider Chinese economy. It has cooled gradually over the past six years as Beijing tries to pivot it away from heavy reliance on export-based manufacturing and investment toward consumer spending.

 

The official full-year economic growth target for 2017 is 6.5 percent. 

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Trump Signs Order Opening Arctic for Oil Drilling

President Donald Trump is re-opening for oil exploration areas that President Barack Obama had closed, a move that environmental groups have promised to fight.

In an executive order Friday, the president reversed the Obama administration’s decision to prohibit oil and gas drilling in the Arctic waters off Alaska.

The order also instructs the Interior Department to review current restrictions on energy development in the Atlantic Ocean and Gulf of Mexico. In addition, it bars the creation or expansion of marine sanctuaries and orders a review of all areas protected within the last 10 years.

Trump cites advantages

The White House says 90 billion barrels of oil and 327 trillion cubic feet of natural gas are buried off the U.S. coastline, but 94 percent of the area is off limits.

“Renewed offshore energy production will reduce the cost of energy, create countless new jobs and make America more secure and far more energy independent,” Trump said at a signing ceremony at the White House.

The action is the latest from the Trump administration aimed at boosting domestic energy production and loosening environmental regulations.

In his first 100 days, Trump has relaxed coal mine pollution rules and ordered a review of vehicle efficiency standards and power plant greenhouse gas rules. His administration has stopped defending Obama-era pollution regulations challenged in court.

The energy industry has cheered the moves. Environmental groups have promised strong opposition.

Fragile ecosystems

Conservationists have long opposed oil drilling in the Arctic. A spill would devastate the region’s fragile ecosystems, they say, while extreme conditions raise the risks of a spill and make cleanup harder.

Fishing and tourism on the Atlantic coast and Gulf of Mexico would suffer from an accident, too, environmentalists note.

“By his actions today, President Trump has sent a clear message that he prioritizes the oil and gas industry over the needs of working Americans in our coastal communities who depend on healthy fishing and tourism economies for their livelihoods,” Environmental Defense Fund Vice President Elizabeth Thompson said in a statement.

Reviewing and rewriting the current offshore drilling plans are expected to take several years. Environmental groups plan legal challenges to the changes.

 

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Beyond ‘Fake News:’ Facebook Fights ‘Information Operations’

Facebook is acknowledging that governments or other malicious non-state actors are using its social network to sway political sentiment, including elections.

That’s a long way from CEO Mark Zuckerberg’s assertion in November that the idea that bogus information on Facebook influenced the U.S. presidential election was “pretty crazy.” It also illustrates how the world’s biggest social network has been forced to grapple with its outsized role in how the world communicates, for better or for worse.

In an online posting Thursday, the company said that it would monitor efforts to disrupt “civic discourse” on Facebook. It is also looking to identify fake accounts, and says that it will warn people if their accounts have been targeted by cyber-attackers.

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