U.S. Supreme Court Order Reduces Federal Agency Power
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The U.S. Supreme Court, with its conservative majority, struck down a 40-year-old legal precedent on Friday, significantly reducing the regulatory power of federal agencies over critical issues such as air quality and drug safety. In a 6-3 decision, the Court overturned the landmark 1984 ruling in Chevron v. Natural Resources Defense Council, which allowed judges to defer to government experts when interpreting ambiguous laws.
Chief Justice John Roberts, writing for the majority, stated that the Chevron ruling was "fundamentally misguided" and conflicted with the statutory requirement for courts to independently judge whether federal agencies have exceeded their authority. The decision split the Court along conservative-liberal lines, with the three justices appointed by Democrats dissenting.
The ruling drew swift backlash from lawmakers and non-profits. Environmental group Earthjustice criticized the decision, stating it "paves the way for industries to challenge regulations they oppose before judges who will now be more inclined to second-guess federal agencies.
Global Governance Reform
During a signing ceremony at the Great Hall of the People in Beijing, Chinese President Xi Jinping emphasized the need for the Global South to actively participate in reforming and developing the global governance system to make it more balanced and effective.
“China’s commitment to peaceful development remains steadfast. We will not follow the path of colonial plundering or seek hegemony. Instead, we will pursue the path of peaceful development.
His comments were made at an event commemorating the 70th anniversary of the “Five Principles of Peaceful Coexistence.” Xi highlighted that during the Cold War, newly independent countries aimed to protect their sovereignty and develop their national economies. The five principles were included in the China-India and China-Myanmar joint statements, advocating for their adoption as basic norms for state-to-state relations.
The Five Principles are mutual respect for sovereignty and territorial integrity, mutual non-aggression, non-interference in each other’s internal affairs, equality and mutual benefit, and peaceful coexistence.
The Five Principles of Peaceful Coexistence, born in Asia, quickly gained global recognition. The Non-Aligned Movement, emerging in the 1960s, adopted these principles as its guiding norms. Over the past 70 years, they have proven resilient and relevant, becoming universal norms for international relations and fundamental principles of international law.
He emphasized the significant role of the Global South in promoting human progress and called for greater openness and inclusivity. Xi urged the Global South to lead in building a community with a shared future for mankind.
Coal and Electricity Boost Core Output
Output growth in India’s eight core infrastructure sectors slowed to 6.3% in May, down from 6.7% in April, as double-digit increases in coal and electricity production offset declines in three sectors, including cement and fertilizers, according to data from the Index of Core Industries (ICI).
Sequentially, the ICI rose 3.7% from April.
Electricity generation surged 12.8% year-on-year, the fastest pace in seven months, while coal production increased by 10.2%, likely driven by higher demand due to the May heatwave affecting much of the country.
Natural gas output increased by 7.5%, and steel production grew by 7.6%.
However, refinery products saw a modest 0.5% rise in May, the slowest increase in four months.
Cement production contracted for the second consecutive month, dropping 0.8% after a 0.5% decline in April, hitting the lowest levels since November.
