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November 24, 2024
 

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GLOBAL ECONOMY

Leaders from the BRICS group of major emerging economies are set to meet this week in South Africa, but internal divisions are likely to slow any plans to expand the bloc, experts say.
WORLD / Politics / ANALYSIS
Aug 22, 2023
Divergent interests likely to slow BRICS expansion
Plans to expand the bloc and boost payments in local currencies will top the agenda at the group's summit this week.
People look at job listings. A U.N. study has found that artificial intelligence is likely to change the intensity of work and the degree of worker autonomy than destroy jobs.
BUSINESS / Tech
Aug 22, 2023
AI more likely to change work than destroy jobs: U.N. study
The study found that 5.5% of employment in high-income countries was potentially exposed to impacts from generative AI, more than in low-income countries.
Washington is worried that Beijing’s struggles with high unemployment and an aging workforce make China “a ticking time bomb.”
COMMENTARY / World
Aug 21, 2023
America’s ‘new’ China narrative: A wounded dragon
The new China narrative is really about the West, its lead in technologies, the free market, wielding power and keeping all challengers at bay.
While the U.S. today accounts for only 25% of global economic output, the dollar remains involved in nearly 90% of all foreign-exchange transactions.
COMMENTARY / World
Aug 18, 2023
The real cost of de-dollarization
While there are currently no viable alternatives that could usurp the greenback, the biggest threat to its hegemony comes from the US government itself.
Pedestrians pass stores in Guangzhou. Economists say China needs measures to boost consumption and business confidence, but add that unlike previous slowdowns, there is no quick fix.
ASIA PACIFIC / Politics / ANALYSIS
Aug 18, 2023
Why is China not rushing to fix its ailing economy?
Even in a country known for opaque decision-making, analysts are pointing to signs that Beijing seems hesitant to deliver the bold policies needed.
The Inflation Reduction Act’s tax breaks for clean energy will help mitigate climate change but they will not meet the 2050 net-zero carbon goal.
COMMENTARY / World
Aug 17, 2023
Biden’s climate bill was too tame
U.S. President Biden and the Democratic Party's Inflation Reduction Act was too tame on fixing the climate.
U.S. Treasury Secretary Janet Yellen speaks at an event in Las Vegas on Monday.
WORLD / Politics
Aug 16, 2023
Yellen's Las Vegas stop shows Bidenomics can be a tough sell
Even as Americans feel the benefits, it's not clear this approach will deliver Biden the votes he needs in 2024.
A trader on the floor at the New York Stock Exchange on July 26
BUSINESS / Markets
Aug 15, 2023
U.S. loss of AAA badge shows shift in views on government debt
Fitch Ratings flagged not only U.S. governance but also higher rates driving up debt service costs, an aging population and rising health care spending.
As long as coal plants are still operating, it is a good idea to make them capture their carbon dioxide emissions. But the sooner that coal is replaced by renewables, the better it will be for the planet.
COMMENTARY / World
Aug 11, 2023
Carbon capture and the changing economics of power generation
Carbon capture policies could unwittingly extend the life of dirtier energy sources.
People buy food at stalls promoting China's digital yuan, or e-CNY, during the 2022 China International Fair for Trade in Services in Beijing in September 2022.
BUSINESS / Markets
Aug 10, 2023
With blockchain 'bridge', China challenges U.S. dollar dominance
A Beijing-backed digital prototype for sending money around the world without relying on U.S. banks is advancing quickly.
A shopper at a Beijing grocery store in 2022. China's consumer and producer prices have both declined from 12 months ago, indicating that the world’s second-largest economy may be weakening.
BUSINESS / Economy
Aug 9, 2023
China shows signs of deflation as consumer and factory prices fall
A prolonged property market slump, plunging demand for exports and subdued consumer spending are weighing on China's economic recovery.
Containers stored at the Yangshan Deep-Water Port in Shanghai in 2020
BUSINESS
Aug 9, 2023
Not decoupling, but West and China drift apart
Official data showed a 14.5% drop in July exports amid weak consumer demand in the world markets served by China — the fastest decline since the pandemic.
Now in their fourth year, Hong Kong's security crackdowns have led to the exodus of hundreds of thousands of people, resulting in grave manpower shortages and a stain on the city's image as place to do business.
COMMENTARY / World
Aug 9, 2023
Hong Kong needs to protect its image as a financial center
In Lee’s view, while reviving Hong Kong’s role as a global financial center, it is vital to continue the crackdown on perceived threats.
A market in Kolkata, India. Developing nations are demanding control of their resources, in part by insisting on factories in their own countries.
BUSINESS / Economy
Aug 8, 2023
The Global South breaks away from the U.S.-led world order
Developing nations are demanding control over their resources and reordering relationship that date back to colonial times.
Members and supporters of the San Francisco Taxi Workers Alliance attend a rally outside the California Public Utilities Commission headquarters in San Francisco on Monday.
BUSINESS / Tech
Aug 8, 2023
Will AI be an economic blessing or curse? History offers clues
History shows the economic impact of technological advances is generally uncertain, unequal and sometimes outright malign.
The U.S. Capitol in Washington. After its downgrade of the U.S., Fitch’s AAA club now consists of Germany and Australia, along with seven others, including smaller, rich countries such as Switzerland and Luxembourg.
BUSINESS
Aug 4, 2023
Pristine AAA bond universe just got a whole lot smaller
Fitch's U.S. downgrade is the latest example of a decadelong trend in rich economies as worries about high and rising debt burdens come to the fore.
A new high-rise is erected in Beijing in October 2021. The same year, 41% of the assets in China’s banking system were accounted for by property-related loans and credit.
COMMENTARY / World
Aug 1, 2023
Is Japan’s economic past China’s future?
China is facing a long period of low growth similar to Japan’s experience since the 1990s.
China and India both began liberalizing their economies around the same time in the 1980s. But China invested more in human-capital and is now benefiting from that decision.
COMMENTARY / World
Aug 1, 2023
Unlike China, India cannot be an economic superpower
In the 1980s, the belief among observers was that an authoritarian Chinese regime would mismanage its economy while a democratic India would thrive.
A worker stands in front of a machine on a yarn production line in Putian, Fujian province, China, in February 2021.
BUSINESS / Economy
Jul 31, 2023
China's factory, services sectors show weakness, need for stimulus
Construction sector activity for July was its weakest since COVID-19-related workplace disruptions dissipated around February.
The Cushing storage hub in Oklahoma. Crude oil stock declines have been geographically uneven so far, with inventory falls in the United States and Europe offset by increases in China and Japan.
BUSINESS
Jul 31, 2023
Oil inventory drops set stage for higher prices
Oil inventories now play a bigger role in determining prices than the U.S. dollar because sanctions on Russia have sped up trading in other currencies.
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Japan approves ¥21.9 trillion stimulus plan
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
Japan will spend ¥325 million in government funds on Princess Yuriko's funeral
Princess Yuriko waves during the New Year's public greeting at the Imperial Palace in Tokyo in January 2019.
MUFG fires worker over ¥2 billion theft from clients’ safe deposit boxes
Mitsubishi UFJ Financial Group is investigating the incident and consulting with the police.
China reinstates visa-free travel for Japanese nationals
Beijing Daxing International Airport
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.

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