Good morning. Here’s your Daily Situational Awareness for Wednesday, 23 November 2022.
THREAT OF RAIL STRIKE WILL REQUIRE RAILROADS TO SECURE NETWORKS, CONGRESS MAY STEP IN: SMART Transportation Division will continue negotiations for a contract deal with a deadline of 8 December. The Brotherhood of Railroad Signalmen could strike as early as 5 December. The National Carriers Conference Committee said that some unions are demanding terms that exceed recommendations from the administration, and the threat of a strike will require freight railroads to take steps to secure rail networks ahead of the deadline. SMART TD President Jeremy Ferguson said that he is skeptical a deal will be made before the deadline and that Congress is likely to step in.
CHINA: TAIWAN IS THE CORE OF CHINA’S CORE INTERESTS: During a meeting this morning between China’s Minister of Defense Wei Fenghe and U.S. Secretary of Defense Lloyd Austin, Wei stated that Taiwan is at the core of China’s core interests and it was a “red-line” that must not be crossed. Wei added that “The resolution of Taiwan is a matter for Chinese people, no external force has the right to interfere.”
PROTESTS AND VIOLENCE BREAK OUT AT CHINA FOXCONN PLANT: According to a report from Reuters corroborated by social media footage, hundreds of workers at a Foxconn’s flagship iPhone plant in Zhengzhou city are rioting and fighting with state security forces. Video uploaded to social media sites showed workers smashing surveillance cameras and windows and fighting with security personnel in white Hazmat suits. Protests began early on Wednesday after Foxconn announced a plan to delay bonus payments. Protesters were also reportedly upset over being forced to share dormitories with fellow workers who had tested positive for COVID-19.
UKRAINE TO RECEIVE $4.5 BILLION IN ECONOMIC AIDE IN COMING WEEKS: U.S. Treasury Secretary Janet Yellen said Tuesday that the U.S. would begin disbursement of $4.5 Billion in aid money to Ukraine over the next two weeks. The funds were approved in September under a stop-gap government funding bill and are aimed at supporting Ukraine’s core government services. Yellen added that other nations should also accelerate their financial aid to Ukraine.
In today’s Early Warning, we look at the continued threat of a rail strike to the U.S. economy, a renewed outlook on inflation, and updates to expected drought. For this plus geopolitical indicators and low intensity conflict reporting, you can get the full report by subscribing at https://forwardobserver.com/subscribe