On a quiet Saturday morning, China's Ministry of Finance met with the press to chat about local debt issues and the health of the property market. They let everyone know that the central government might step in to help, even if it means bumping up the deficit. But, they didn't share any numbers abo
Lately, China's economy hasn't been having the smoothest ride. After the government released a stimulus package, the Shanghai and Hong Kong stock markets took a dive. Why? Because investors felt the measures didn't hit the mark. All this is happening while youth unemployment is high, prices are risi
China's Finance Minister Lan Fo'an hinted at increasing the deficit during a recent press briefing, suggesting greater fiscal flexibility. He stressed that the opportunity to do so is "quite substantial," but further discussions are ongoing. Economists have been calling for more financial backing fr
China's Finance Minister, Lan Fo’an, hinted at possible economic boosts on Saturday but didn't reveal any concrete plans. This comes after the economy's slow recovery from COVID-19 restrictions lifted in late 2022. Companies are cautious, cutting back on jobs and pay, while a struggling property mar
This week, China is putting a new tax on brandy coming from the European Union. Customs officials will start collecting deposits, around 30.6% to 39% of the brandy's value, from companies importing the drink. This change comes after a previous decision in August not to impose any taxes, despite find
The Senate Finance Committee met recently to discuss extending two important trade programs: the African Growth and Opportunity Act (AGOA) and the Generalized System of Preferences (GSP). These programs help remove trade barriers for African goods coming into the U.S. AGOA is due to expire next year
California Governor Gavin Newsom vetoed a bill aimed at regulating large AI models before their release to the public. He criticized the legislation for applying strict standards to basic functions and not focusing enough on potential risks from the technology. The governor encouraged lawmakers to r
China, the world's second-largest economy, is facing a prolonged economic slowdown. The country's factory activity has contracted for five straight months, with a purchasing managers' index (PMI) reading of 49.8 in September. While this is higher than expected, it still indicates a contraction in ma
As the United Nations General Assembly gathered to address pressing global issues, China's foreign minister, Wang Yi, took center stage to reiterate his country's commitment to promoting peace and stability around the world. With a focus on the ongoing conflict in Ukraine, Wang emphasized the import
Former President Jimmy Carter's legacy in foreign policy is marked by his courageous pursuit of peace and human rights. He tackled challenging issues like the Panama Canal Treaties, which improved U.S.-Latin American relations, and the Camp David Accords, maintaining peace between Israel and Egypt s
