On June 4, 2020, copper entered a bull market spurred by robust demand from China and hedge funds “closing bearish bets” according a report from Neil Hume at Financial Times.
Copper is used in almost all construction projects and white goods and is a large source of earnings for miners across the globe.
It was up over 20 percent from its March low by the evening of June 4, when it went over $5,330 a ton. Based on these prices, copper is now in its bull market phase.
“Economic data is signaling a robust recovery in the Chinese construction and manufacturing sectors during the second quarter,” declared Robert Edwards, principal analyst at consultancy CRU.
Half the world’s copper output is consumed in China. Chinese demand for copper has increased significantly since Beijing started relaxing its lockdown in March.
Supply dislocations have continued to rise as the Wuhan virus rocked South America, which is home to prominent copper mines. In Peru, mined copper production dropped by 33 percent in a year timespan on April to 1.5 million tons, according to the country’s Ministry of Mines and Energy.
Despite the chaotic nature of the Wuhan virus, China appears to be slowly bouncing back. The East Asian country is no joke and is a formidable adversary to the U.S. due its authoritarian ethos and expansionist agenda.
Once America is re-opened, it must go back to basics when it comes to dealing with China and developing rational strategies to contain Chinese influence.
Southern Baptist Convention Reverses Course on Name Change After BLP Reporting
They say they’re not changing their name.
The Southern Baptist Convention has sought to dispel reporting from Big League Politics on the organization’s planned name change, arguing that the institution isn’t formally changing its name.
To correct multiple inaccurate reports, “We Are Great Commission Baptists” is the 2021 Annual Meeting THEME.
The GCB descriptor was approved in 2012 for churches to use if it would be helpful in their local context.
The Southern Baptist Convention remains our official name.
— SBC Executive Committee (@SBCExecComm) September 17, 2020
But a close look at the American Christian church’s plans relating to its name reveal that it’s played with the idea far more seriously than they’re making it seem.
Reports of a name change first emerged in a Washington Post article published on Tuesday. SBC President JD Greear told the Post that “hundreds of churches” affiliated with the denomination had “committed” to using the phrase “Great Commission Baptist” as an alternative to the denomination’s longtime moniker. The change would come as Greear touts his support of the Black Lives Matter, although he’s been careful in pointing out he doesn’t support any formal organization related to the movement. Greear also is renaming the church he personally pastors with the term.
The SBC’s 2021 convention will also organize under the motto of “We Are Great Commission Baptists.” Sounds a lot like a name change, even if the SBC’s leadership is steadfastly maintaining it isn’t.
The name ‘Great Commission Baptist’ is theologically sound in the Christian religion, but it’s somewhat questionable that the organization’s leader appears to be emphasizing it at a moment in which political correctness is making its entryism into many Christian churches and organizations.
It seems as if the organization’s figurehead is keen to present himself as a liberal-style suburban Evangelical to the Washington Post, but he changed his tune quite quickly when the rank and file membership of Southern Baptist churches learned that he was promoting the idea of a name change.
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