Sweden And Finland Are Getting Closer To Becoming NATO Members
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Over the centuries, countries have made alliances with each other, and in difficult situations they turned out to be crucial. Therefore, NATO membership may be crucial for many countries.
In this article:
- Sweden and Finland are on track for NATO membership
- Increase in salaries in the automotive industry
- Difficult challenge
Sweden and Finland are on track for NATO membership
Sweden and Finland are on track for NATO membership this year, despite tense negotiations with Turkey over their admission. Currently, NATO consists of 30 countries - 28 European and two North American. Turkey's reasons for opposing Sweden and Finland's admission to NATO are complex, emotional, and steeped in decades.
Turkey's opposition to Sweden's and Finland's membership in NATO focuses on their harboring fighters from the Kurdistan Workers' Party (PKK). Opposition to Finland's membership is of a slightly different nature. The country has a much smaller Kurdish population than the neighboring country, but the foreign policies of both are similar. Both Sweden and Finland blocked arms sales to Turkey in 2019 during its military clash with Kurdish groups in Syria.
Turkish President Recep Tayyip Erdogan announced this week that the country was ready to resume negotiations after suspending them indefinitely at the end of January.
Hungary is the second opponent of the ratification, although local media reported on Tuesday that its parliament could ratify Finland and Sweden's NATO membership early next month.
These are signals that the membership of both countries is getting closer.
Sweden and Finland's NATO membership just a 'matter of time,' Swedish foreign minister says https://t.co/lg4hrBPjSU
— CNBC (@CNBC) February 22, 2023
Increase in salaries in the automotive industry
As one of the largest employers in Japan, Toyota has long been a leader in spring employee talks, which are in full swing at large companies.
Toyota will accept trade unions' demand for the biggest increase in basic wages and bonuses in 20 years.
The automaker's future chief executive Koji Sato said the decision to fully accept the union's demands during the first round of talks was not just for Toyota, but for industries as a whole.
Honda Motor said it had agreed to union demands for a 5% pay rise. Honda's average monthly base salary increase of 12,500 yen ($92.70) is the largest jump since at least 1990.
Toyota, the world's biggest automaker, said it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay. More here: https://t.co/8wSnCZe8Os
— Reuters Business (@ReutersBiz) February 22, 2023
Difficult challenge
It will be another challenging year. In times of heightened uncertainty for the global economy, India's strong performance remains a bright spot.
The reality is that growth is still below normal and price pressure is still too high. And after three years of upheaval, too many economies and people are still suffering badly.
Around the world, many households are struggling to make ends meet due to the high cost of living. Millions cannot afford fuel for heating or cooking. Subsequent upheavals increased poverty, threatening decades of progress.
Supporting the weak is crucial in all countries.
It all makes that the politicians of the G20 economies face a difficult challenge.
This year could be a turning point for the global economy, but growth is still low, price pressures remain, and too many economies are still hurting badly after 3 years of shocks. Read more in a new #IMFBlog by @KGeorgieva ahead of the G20. https://t.co/LqPHQXSDmO pic.twitter.com/JP56Q1AQ9e
— IMF (@IMFNews) February 22, 2023
