Putin Meets China’s Defense Minister, Praises Military Ties

 President Vladimir Putin praised ties between the Russian and Chinese militaries, underscoring Moscow and Beijing’s strategic relationship as he met with China’s defense minister on Sunday.

Putin highlighted the exchange of intelligence and joint maneuvers in the Far East and Europe during talks with Li Shangfu, the Interfax news service reported.

Li told Putin that China was willing to “further strengthen strategic communication between the two militaries” and boost “multilateral coordination and cooperation,” state broadcaster China Central Television reported.

Beijing has become Russia’s biggest supporter since the invasion of Ukraine last year, and the visit is the first by a Chinese defense minister since the war began.

Li’s visit follows Chinese President Xi Jinping’s trip to Moscow in March. Putin said at the time that Russia was ready to discuss Beijing’s blueprint for ending the fighting in Ukraine, though no progress has been made.

Li is also due to meet his Russian counterpart Sergei Shoigu and will visit Russian military institutions as part of the trip, China Central Television reported Friday.

The US has warned China against providing lethal aid to Moscow. Beijing probably approved of its firms providing Russia non-lethal, “dual-use” support for the war, Secretary of State Antony Blinken said in February. Beijing later said it never sells arms to parties involved in a conflict.

https://www.yahoo.com/news/putin-meets-china-defense-minister-233307357.html

New BOJ head's message to world: We're staying the course - for now

 Japan's new central bank Governor Kazuo Ueda gave a clear message to policymakers gathered for global finance meetings here over the last week: The country will remain a dovish outlier by keeping interest rates ultra-low - at least for now.

Since taking the helm a week ago, Ueda has dropped some hints the massive stimulus of his dovish predecessor Haruhiko Kuroda will eventually be phased out.

But discussions over when and how to shift away from the ultra-loose policy will take time, giving Ueda every reason to reassure the world any change won't happen quickly.

"In many countries, inflation is very high or not slowing enough. The important thing is that the situation is quite different in Japan, which I explained at the meeting," Ueda told reporters on Wednesday after attending a finance leaders' meeting of the Group of Seven advanced economies, held alongside the spring meetings of the International Monetary Fund and World Bank.

Japan's inflation, now around 3%, will slow back below the BOJ's 2% target later this year on falling import costs, Ueda told Thursday's bigger gathering of ministers from the Group of 20, in explaining his plan to keep monetary policy ultra-loose for now.

The dovish remarks likely underscore the BOJ's desire to avoid a repeat of January, when markets anticipating a swifter pivot by the BOJ to tweak to its yield curve control (YCC) policy pushed up long-term interest rates.

Under YCC, the BOJ guides short-term rates at -0.1% and the 10-year Japan government bond yield around zero with an implicit cap of 0.5%. With inflation exceeding the BOJ's target and the cost of prolonged easing increasing, markets are rife with speculation that Ueda will move towards tweaking YCC this year.

The 10-year yield is currently a shade below the cap at 0.47%, but on repeated occasions earlier this year traders drove it above 0.5%, pressing the BOJ to defend the mark.

Ueda will chair his first BOJ policy meeting on April 27-28, when the board will issue fresh quarterly growth and inflation forecasts that will come under scrutiny for signs on how soon the central bank projects inflation to sustainably hit its 2% target.

Uncertainty over the world economy, highlighted by the International Monetary Fund's stark warning of global recession risks on Tuesday, adds reasons for Ueda to move slowly and cautiously.

And yet, analysts say Ueda's remarks leave scope for changes to YCC, which has drawn criticism for distorting the shape of the JGB yield curve and crushing financial institutions' margin.

While stressing that the BOJ's focus now should be to avoid a premature exit, Ueda said on Wednesday he won't deny the risk of being behind the curve in addressing too-high inflation.

That followed his remarks on April 10 that the BOJ must make "pre-emptive" decisions on the timing of normalizing policy, as waiting too long could make the adjustment disruptive.

"We'll discuss all options at each of our policy meetings," Ueda said on Monday, when asked about the chance of adjusting the BOJ's guidance committing to keep interest rates ultra-low.

"Ueda and his deputies are taking care not to give any hint on the timing of a policy tweak," said former BOJ official Nobuyasu Atago, currently an analyst at Ichiyoshi Securities.

"But they also haven't completely ruled out the chance of a near-term tweak to YCC," he said.

Intensifying global debate over the cost of delaying monetary tightening could challenge the BOJ's view the recent cost-driven inflation will prove temporary.

IMF First Deputy Managing Director Gita Gopinath said the days when central banks could focus on demand, and assume that supply would be elastic and a given, may be over.

"We're in an economy where we're going to be hit more by supply shocks, and monetary policy will face more serious trade-offs," she said on Friday.

The IMF had a piece of advise to Ueda: relax the BOJ's control and allow long-term rates to rise more flexibly - a move that will help ease the strain on the banking sector.

Ranil Salgado, the IMF's Japan mission chief, sees scope for the BOJ to modify the long-term yield target this year, given heightening prospects of durable wage growth.

As long as the short-term rates remain zero or slightly negative, the BOJ can keep monetary policy accommodative even if it tweaks the yield target, he said.

"We are advising (the BOJ) to pretty much already be thinking about it," Salgado said on the idea of tweaking YCC.

https://www.msn.com/en-ca/money/topstories/analysis-new-boj-heads-message-to-world-were-staying-the-course-for-now/ar-AA19WcBA

China Pumps $25 Billion in Funds to Banks While Keeping Key Rate on Hold

 

• Net fund injection in April is smallest since November
• Central bank may be evaluating impact of its easing in March

China’s central bank is providing more liquidity to the financial system while keeping a key lending rate unchanged, as it moves to prevent funding squeezes stemming from rebounding credit demand.

The People’s Bank of China offered 170 billion yuan ($25 billion) of funds to banks through the medium-term lending facility. That resulted in a 20 billion yuan net injection in April, the smallest since November. It also left the interest rate unchanged at 2.75%, the eighth month for it to stand pat, as expected by a majority of economists and analysts in a Bloomberg survey.

https://www.bloomberg.com/news/articles/2023-04-17/china-pumps-in-more-liquidity-while-keeping-key-rate-on-hold

Choosing between US, China would mean ‘less prosperity,’ ‘more poverty’: EU Central Bank president

 The president of the European Central Bank said Sunday that with rising political pressure on countries to choose between the U.S. and China, the result of such a thing would lead to less economic growth across the world and should be avoided by "all means."

European Central Bank President Christine Lagarde appeared on CBS’s "Face the Nation," where she was asked about the increasing pressure on to side economically with either the U.S. or China, and whether the U.S. is losing its global influence.

"There is clearly a competition between these large economies," Lagarde said, referring to the two nations.

Lagarde, a French politician and lawyer who previously served as managing director of the International Monetary Fund from 2011 to 2019, said she hoped that the U.S. and China can engage in dialogue and warned that trade should not be confrontational.

European Central Bank President Christine Lagarde struck a hopeful tone Sunday, saying that "conflict is not unavoidable" as tensions rise between the U.S. and China. (Reuters/Kai Pfaffenbach/File  / Reuters Photos)

"All these relationships, whether it's trade whether it's politics whether it's economic development or whether it's financial stability, it is a two-way street," she said. "We cannot ignore each other, and trade should not be confrontational. … Conflict is not unavoidable."

Escalating tensions between Washington and Beijing over Taiwan have highlighted China’s relationship with Europe and with countries in other parts of the world.

French President Emmanuel Macron visited Beijing last week accompanied by European Commission President Ursula von der Leyen, just days after Spanish Prime Minister Pedro Sanchez.

The French leader also made comments during the visit that could have strained ties with the U.S. and exposed divisions within the EU.

"Being a friend doesn’t mean that you have to be a vassal," Macron said Wednesday, repeating a remark from his trip that alarmed some European partners. "Just because we’re allies, it doesn’t mean (that) we no longer have the right to think for ourselves."

Meanwhile, Lagarde said the outcome of choosing a side would lead only lead to economic downsides – one with still uncertain consequences.

"The decoupling and the sort of bipolarization of the world would lead to less economic growth, less prosperity in the world, more poverty across the world," Lagarde said. "I think this is something that should be by all means avoided."

https://www.foxbusiness.com/politics/choosing-between-us-china-would-result-less-prosperity-more-poverty-eu-central-bank-president

Potential drug treats fatty liver disease in animal models

 A recently developed amino acid compound successfully treats nonalcoholic fatty liver disease in non-human primates -- bringing scientists one step closer to the first human treatment for the condition that is rapidly increasing around the world, a study suggests.

Researchers at Michigan Medicine developed DT-109, a glycine-based tripeptide, to treat the severe form of fatty liver disease called nonalcoholic steatohepatitis. More commonly known as NASH, the disease causes scarring and inflammation in the liver and is estimated to affect up to 6.5% of the global population.

Results reveal that DT-109 reversed fat buildup and prevented scarring in the livers of both mice and primates that had developed NASH. The study, completed in partnership with an international team including the Laboratory Animal Center at Xi'an Jiaotong University Health Science Center and the Institute of Cardiovascular Sciences at Peking University Health Science Center, is published in Cell Metabolism.

"For years, scientists have been trying to develop a medication that treats NASH, but many attempts have failed to show an improvement or have raised safety concerns in clinical trials," said Eugene Chen, M.D., Ph.D., senior author of the study and Frederick G. L. Huetwell Professor of Cardiovascular Medicine at University of Michigan Medical School. "NASH is rising at a staggering rate, and successful treatment of non-human primates with our drug candidate, DT-109, brings us closer than ever to treating the millions of people suffering from this condition."

NASH is the second stage of nonalcoholic fatty liver disease, which is estimated to affect 32% of people worldwide. While fatty liver disease can be treated with exercise and nutritional intervention, the liver damage from NASH is more permanent. It has become the primary cause of chronic liver disease, and NASH-related cirrhosis is now one of the most common reasons for liver transplantation.

Chen and his team developed DT-109 for treating NASH in non-human primates after reports showed that impaired glycine metabolism emerged as a cause of nonalcoholic fatty liver disease and NASH.

While hundreds of compounds have successfully treated NASH in mice, including DT-109, Chen says mouse NASH models are limited because not all aspects of the human disease are accurately mimicked and, therefore, are not easily translatable to the clinic. The research team's non-human primate model for NASH, confirmed using multiomics profiling studies, is among the first to accomplish the feat.

In both non-human primates and mice, investigators in the international collaboration found that treatment with DT-109 reverses fat buildup and prevents fibrosis progression by stimulating fatty acid degradation and antioxidant formation. The drug also inhibited the production of lithocholic acid, a toxic secondary bile acid closely linked to nonalcoholic fatty liver disease.

"With this significant breakthrough in preclinical models, we can now consider evaluating DT-109 as a potential drug candidate for the treatment of NASH in future clinical trials," said Jifeng Zhang, Ph.D., co-corresponding author and research associate professor of cardiovascular medicine at Michigan Medicine. "With millions of people suffering from NASH, the need for an effective treatment is more pressing than ever."

Additional authors include Oren Rom, Ying Zhao, Chao Xue, Yang Zhao, Bo Wen, Duxin Sun, Jiandie Lin, all of University of Michigan, Pengxiang Qu, Linying Jia, Wenbin Cao, Jinpeng Zhao, Liang Bai, Sihai Zhao, Enqi Liu, all of Xi'an Jiaotong University Health Science Center, Ke Li, Shusi Ding, Beijing Tiantan Hospital, Mingming Zhao, Huiqing Wang, Lemin Zheng, all of Peking University, Xiaojing Gao, Chengshuang Chu, Rong Zeng, all of Shanghai Institute of Biochemistry and Cell Biology, Zhipeng Lui, Purdue University, Shuangshuang Chen and Xuelian Xiong, both of Fudan University, Alexandra C. Finney, Louisiana State University Health Sciences Center-Shreveport, Zuowen Zheng, Spring Biological Technology Development Co., Wanqing Liu, Wayne State University.

Disclosure: Chen is an inventor of the compound DT-109. The University of Michigan has patented it and licensed it to Diapin Therapeutics. Chen and the university have an ownership interest in Diapin. Diapin provided DT-109 for this study. The company is further developing the compound.

All procedures performed in mice were approved by the Institutional Animal Care and Use Committee at the University of Michigan and performed in accordance with the institutional guidelines. All experimental protocols involving non-human primates were approved by the Laboratory Animal Care Committee of Xi'an Jiaotong University (approval number: 20191278) and the Institutional Animal Care and Use Committee of Spring Biological Technology Development Co., Ltd. (approval number: 201901). The study was performed in accordance with the National Institutes of Health Guide for the Care and Use of Laboratory Animals.

Journal Reference:

1. Pengxiang Qu, Oren Rom, Ke Li, Linying Jia, Xiaojing Gao, Zhipeng Liu, Shusi Ding, Mingming Zhao, Huiqing Wang, Shuangshuang Chen, Xuelian Xiong, Ying Zhao, Chao Xue, Yang Zhao, Chengshuang Chu, Bo Wen, Alexandra C. Finney, Zuowen Zheng, Wenbin Cao, Jinpeng Zhao, Liang Bai, Sihai Zhao, Duxin Sun, Rong Zeng, Jiandie Lin, Wanqing Liu, Lemin Zheng, Jifeng Zhang, Enqi Liu, Y. Eugene Chen. DT-109 ameliorates nonalcoholic steatohepatitis in nonhuman primates. Cell Metabolism, 2023; DOI: 10.1016/j.cmet.2023.03.013

https://www.sciencedaily.com/releases/2023/04/230410111613.htm

CDC starts tracking XBB.1.16: Where it's most prevalent

 The latest omicron subvariant experts are keeping their eye on accounts for 7.2 percent of cases in the U.S., according to the CDC's latest variant proportion estimates. 

The estimates for the week ending April 15 indicate XBB.1.16 is most prevalent in HHS Region 6, where it makes up 21.3 percent of cases. That region includes Texas, Oklahoma, New Mexico, Louisiana and Arkansas. Prior to this week, the CDC hadn't been tracking XBB.1.16 individually, as sublineages estimated to account for less than 1 percent of cases are not tracked on their own. 

Experts anticipate the omicron relative and other XBB subvariants to become dominant in the U.S. in the coming weeks. 

"Clinical implications are unclear, but likely not a significant wave here. Still reason to be cautious," Eric Topol, MD, said of XBB.1.16's growth in an April 14 tweet. 

In India, where the strain is fueling a surge, it appears to be causing a new symptom among children: conjunctivitis. However, that's based on anecdotal reports, and it's still early to tell whether the symptom set has actually shifted with this subvariant. 

There are currently no indications of increased disease severity associated with the subvariant, according to the World Health Organization. 

https://www.beckershospitalreview.com/public-health/cdc-starts-tracking-xbb-1-16-where-its-most-prevalent.html

20 years, $179B spent on health equity: Why isn't the needle moving?

 Efforts to achieve health equity have been underway for more than two decades. And yet, their effects have only been "marginal," according to a recent report from accounting firm Ernst & Young. 

Chatter surrounding health equity converged into a mainstream conversation in 2002, Yele Aluko, MD, EY's chief medical officer and a co-author of the report, told Becker's. That's when Congress commissioned the Academy of Sciences and the Institute of Medicine to research whether racial and ethnic disparities existed in U.S. medicine. The 2003 report "Unequal Treatment: Confronting Racial and Ethnic Disparities in Health Care" affirmed that, yes, inequity was present. 

The U.S. government, corporations and philanthropic organizations have dedicated at least $179 billion toward advancing health equity between 2002 and 2022, EY researchers confirmed. But despite the large sum of money allotted to propel it, equality has stalled: Populations of color still have higher maternal mortality rates and shorter life expectancies than white populations, and they are three times more likely to be uninsured. 

So, EY asks, "Why have past efforts failed?" 

Not all allocated money has been spent, for starters — especially from the government. Missouri's health department has received $36 million toward health equity and spent none of it. Illinois has only spent 0.5 percent of the $29 million it received, and California has spent 11.6 percent of its $33 million allocation. This suggests capacity and infrastructure barriers are hindering efficient use of the funds, the report said. 

There are several reasons why this might be, according to Dr. Aluko. The workforce to execute initiatives with the funding may be insufficient, along with the states' processes and IT infrastructure. Political misalignment between states and the federal government could also cause processes to stall. 

Philanthropic organizations and corporations also lack a single rallying call. Their leaders might choose to allocate money toward their own significant interests; For example, breast cancer or cardiovascular disease may garner funds because of a personal family involvement. 

"That's not a wrong thing to do," Dr. Aluko said. "It's just that it may not be done in a strategic manner." 

The lack of clarity surrounding health equity extends to hospitals and health systems, which are not all holding their DEI initiatives accountable. Other industry challenges like the labor shortage can also play a role. 

"If a healthcare system's priority — which it should be — is to deliver health care, and you don't have enough people to provide healthcare, other important issues that will enable the workforce to be culturally competent tend to fall apart," Dr. Aluko said. "When the workforce is constrained, the ability to drive systemic enterprise-wide DEI and health equity initiatives, and to hold them accountable and to staff them with appropriate leadership and resources, tends to become deprioritized and therefore ineffectual." 

Overall, the field has lacked a unified call to action, according to Dr. Aluko. 

"When 'Unequal Treatment' was published, it emphatically recommended a focused process to address systemic racism in healthcare," Dr. Aluko said. "That has not happened." 

Consistency is key if the needle is to actually move, according to Dr. Aluko and EY, adding that  funders, healthcare organizations and reporters need to be on the same page about the current health equity impact and the path forward. 

Individual hospitals and health systems can start by rethinking their health equity strategies and results, Dr. Aluko said. 

"Those strategies must be well thought out," Dr. Aluko said. "They should be developed to be systematically executed across the entire organization and they should be empowered with accountable entities in the C-suite as well and all the way downstream." 

Along the way, all parties should avoid falling into a complacency trap. 

"A lot of invested money is being invested into initiatives and processes and people are busy doing stuff. But the gap hasn't closed. We need to ask why," Dr. Aluko said. "Organizations should not conflate activity with actionable success." 

https://www.beckershospitalreview.com/health-equity/20-years-179b-spent-on-health-equity-why-isnt-the-needle-moving.html