The presidents of the two nations will get together in person this week for the second time since Joe Biden assumed office, capping another turbulent year of hostilities between the US and China. Before the real presidential election cycle in the United States begins, this will be an uncommon gathering. One of the few issues…
As the largest economy in the world approaches recession, UBS projects that the U.S. Federal Reserve will reduce interest rates by as much as 275 basis points in 2024—nearly four times the market average. The Swiss bank stated that while the U.S. economy has been resilient until 2023, many of the same challenges and risks…
India unveiled a new draught broadcasting law on Friday that aims to regulate the industry. It will also apply to major streaming companies like Netflix, Disney, and Amazon and mandates the creation of separate content assessment panels. India, which is predicted by Media Partners Asia to become a $7 billion market for the industry by…
Even if no additional vows to phase out fossil fuels are made, the global coal industry might lose roughly 1 million jobs by 2050, with China and India bearing the brunt of the losses, according to new data released on Tuesday. Hundreds of labor-intensive mines are projected to close in the next decades as they…
US President Joe Biden’s administration is under pressure from some lawmakers to forbid American companies from working on a freely available chip technology that is widely used in China, opening a new front in the U.S.-China tech conflict that could fundamentally alter how the international technology sector collaborates. RISC-V, or “risk five,” is the in…
The chairman of the indebted real estate developer China Evergrande Group, Hui Ka Yan, is under investigation on suspicion of moving assets overseas, according to a Monday Wall Street Journal story. Evergrande has been trying to obtain the consent of its creditors to restructure its offshore debt, but last week the situation became more difficult…
The public’s worries about the economy increased in August as a result of months of generally depressing data, particularly high rates of youth unemployment, and lottery ticket sales in China surged to their highest level for any month this year. According to data from the finance ministry, the official Xinhua news agency reported on Saturday…
According to U.S. Commerce Secretary Gina Raimondo, there is no proof that Chinese company Huawei can mass-produce smartphones with cutting-edge technology. Recently, Huawei began selling the Mate 60 Pro phone, which features a processor said to have been created using a technological advancement by the Chinese chip foundry Semiconductor Manufacturing International Corp (SMIC). “We don’t…
Investors increased their bets on the Bank of England stopping its historic run of interest rate hikes as soon as Thursday after the surprisingly high inflation rate in Britain unexpectedly declined in August. Consumer price index fell from July’s 6.8% to 6.7% on Wednesday, the lowest level since February 2022, contrary to predictions by economists…
Feeling “rich” is not the same as simply making a nice living. Even highly compensated professionals who enjoy secure employment, property, and a sizable retirement savings account—also referred to as the “regular rich”—said they don’t feel wealthy at all. According to a recent Bloomberg survey, some even claimed to feel destitute. One-quarter of tax filers…
