Global Markets: China strikes trade deals worldwide for beef, pork, poultry

By MarketsFarm

WINNIPEG, Nov. 6 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– China resumed importing Canadian beef and pork. China had suspended imports in June due to complaints of a restricted substance found in the meat. A subsequent investigation found the paperwork had been tampered with. African Swine Fever has since decimated China’s hog population, necessitating imports from other countries. China has also committed to buying pork from Denmark, and recently struck a deal with France regarding the aeronautics, energy, and agriculture industries, specifically beef, poultry, and pork.

– The United States Department of Labor reported that productivity unexpectedly declined for the first time in four years. According to a report from the Labor Department on Wednesday, nonfarm business employee output per hour decreased at an 0.3 per cent annualized rate in the third quarter of 2019. Economists had expected a 0.9 per cent increase for the period. Unit labour costs also rose by 3.6 per cent during the period as well.

– Outgoing head of the European Union Jean-Claude Juncker said Brexit has exacerbated the United Kingdom’s problems, according to The Guardian. Juncker said “Britain also has problems other than Brexit and these problems have got bigger with Brexit. They are trying to cover that up, but they just got bigger.” He also characterized the U.K. leaving the E.U. as “a perpetual cycle of promises, promises not kept, and lies repeated over and over again.”

– Teachers in Croatia have gathered at the capital to protest for higher wages. This demonstration comes after over 2,000 teachers have been on strike for several weeks. The union has demanded wage increases, but talks between the union and government have been fruitless. This strike is on the heels of a similar teachers strike in Chicago, where thousands of teachers in the Chicago Teachers Union (CTU) striked for two weeks in order to negotiate better pay and benefits, as well as funding for schools.

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