The Middle East conflict has repercussions at both the regional and global levels. The increase in oil prices has spread to the gas and fuel sectors, prompting the European Union to prepare contingency measures to minimize the effects on consumers.

The EU is streamlining procedures for importing non-Russian gas amidst the escalating conflict in the Middle East, which has impacted supply. This has led to more flexible requirements, reduced red tape, and faster response times from authorities.

Currently, the United States, Africa, and Qatar are considered potential alternatives for importing liquefied natural gas.

There are specific initiatives in the region, such as in Italy, where Prime Minister Giorgia Meloni announced a reduction of €0.25 per liter of fuel to alleviate the effects of price increases caused by the war. The measure was approved by the Council of Ministers through a decree-law.

Spain, for its part, is reportedly evaluating similar options; that is, reducing taxes, offering incentives for consumption, “eliminating the CO₂ price, or returning to the ‘Iberian exception’ or a cap on gas prices,” according to European media.

Although the International Energy Agency has stated that member countries can release more oil onto the market, France does not share this view. Finance Minister Roland Lescure has indicated that the country cannot replace lost flows with existing reserves.

In any case, the consequences of the conflict in the Middle East and the closure of the Strait of Hormuz are being felt globally, with price increases in oil, gas, electricity, and fuels, forcing governments to scramble to find alternatives not only for supply but also to minimize the impact on the population.

M.Pino

With information from international media

(Reference image source: Christian Harb on Unsplash)

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The rapid increase in the presence in Latin America of Chinese online stores with merchandise at very low prices keeps governments on alert, which are studying measures to protect retailers due to possible unfair competition.

The very low prices of Chinese chains such as AliExpress or Shein cause a sensation among young people, who prolong their browsing on these platforms, attracted by new products and super-cheap packages.

The data company Statista reported data from 2022, where “online commerce moved 122,000 million dollars in Latin America and could reach 200,000 million by 2026.”

AliExpress, Shein and Temu are at the top of the list of Chinese online companies with wide influence in the region. Their offers consist of “products at very low prices after direct purchase from suppliers and agreements with logistics companies.”

As a protection measure against the daily flow of packages in customs, countries such as Chile and Brazil decided to eliminate “tax exemptions for purchases from abroad under 41 and 50 dollars, respectively.” On the other hand, Mexico decided to apply controls on this commercial activity to strengthen trade.

In addition to the investigations into some Chinese online store chains for possible unfair competition in Latin America, last October the European Union announced an investigation into the Temu firm “for alleged sale of illicit products through these platforms.”

Another risk for the consumer is the possible addiction to online shopping, since customers spend hours scrutinizing offers, new packages and extraordinary discounts instead of investing that time in sharing with family or resting.

There are other aspects related to fashion, such as the exploitation of specific ethnic groups in factories around the world, as well as the increase in polluting emissions that contribute to the greenhouse effect, in addition to the increase in wastewater.

M.Pino

Source: forbes.com.mx

(Reference image source: CardMapr.nl in Unsplash)

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