Commentary China’s consumer prices are flat, while producers are hit with rising costs, and workers are facing lower wages and a tighter job market. The Chinese Communist Party (CCP) had hoped that removing COVID-19 restrictions would jump-start the economy. However, after a brief uptick during the first quarter of the year, demand for industrial and…
UK Signs Treaty to Join Indo-Pacific Trade Bloc CPTPP
The UK has formally signed the treaty to join a vast free trade area spanning the Indo-Pacific region, in a move the government says will be a “big boost for British businesses.” Business and Trade Secretary Kemi Badenoch signed the accession protocol to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in Auckland, New…
IMF Hints Allowing Countries to Use Chinese Yuan for Debt Repayment
July 15, 2023
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AmericasArgentinaBusiness & MarketsChinaChina Business & EconomyChina NewsChinese YuaneconomyIMFInternational Monetary FundUSUS NewsWorld
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The International Monetary Fund (IMF) has hinted that it may accept the Chinese Yuan as a currency for countries to settle their obligations with the IMF following Argentina’s recent debt repayment in yuan. IMF spokesperson Julie Kozack confirmed on Thursday that Argentina had paid off part of its debts—equivalent to $1.1 billion of the $2.7…
Hybrid Work Trend May Crash Commercial Real Estate Values By 2030, Says McKinsey
July 15, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyGlobal Real Estatehybrid workInvestmentMarketspandemicreal estateremote work
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Worst Case Scenario: Hybrid Work Trends May Result in Office Space Demand Falling 38 Percent by 2030, Says McKinsey
July 15, 2023
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Business & Marketscommercial real estateCompanieseconomic policieseconomyGlobal Real Estatehybrid workInvestmentMarketspandemicreal estateremote work
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A trend towards hybrid and remote work since the pandemic may cut $800 billion from office property values by the end of the decade, according to a recent study by consulting firm McKinsey. McKinsey said that employees continued to spend far less time working at the office compared to the pre-pandemic era, The survey, published on July…
Microsoft’s Contract With Government Agencies Under Fire Following Chinese Cyber Attacks
July 14, 2023
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Business & MarketsChinaChina NewsCompaniesCrime & Public SafetyCrime and Incidentscyber attackscyber securityeconomic policieseconomyMedia & Big TechmonopolyNational SecurityPolicies & ImpactsTechTech NewstechnologyU.S. governmentUSUS NewsUS-China relations
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After Chinese hackers were able to hack into U.S. government email accounts last week, Microsoft’s security systems are now under fire from Congress. A cyber gang based in China was accused of stealing emails from senior U.S. officials in a major security breach through a weakness in Microsoft MSFT.O software. The attacks were allegedly able…
2024 Social Security Payment Estimates to Rise Unexpectedly, Group Says
The next cost-of-living adjustment (COLA) increase for Social Security recipients might be better than what was previously predicted, according to a nonpartisan seniors group. The Senior Citizen’s League advocacy group said that the COLA increase for 2024 might be around 3 percent, which is far lower than 2023’s 8.7 percent increase, according to a press release…
Mexico Replaces China as America’s Top Trade Partner, While China’s Foreign Trade Continues to Decline
July 14, 2023
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyChina NewsChinese RegimeeconomyMexicotrade partnerUS-Canada-Mexico Trade AgreementWorldWTO
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Mexico has become the largest trading partner of the United States, surpassing China and Canada, according to the latest statistics released on July 12. The trade volume between the United States and Mexico reached $263 billion in the first four months of this year, said Luis Torres, a senior business economist at the Federal Reserve…
Strong Big Bank Earnings Lift Wall Street at Open
Wall Street’s main indexes opened higher on Friday after three of the country’s top lenders including JPMorgan Chase and Wells Fargo commenced second-quarter earnings for big U.S. banks on a strong note. The Dow Jones Industrial Average rose 30.19 points, or 0.09 percent, at the open to 34,425.33. The S&P 500 opened higher by 4.57…
IN DEPTH: America Needs to Rebuild Its Manufacturing Power to Outplay the CCP: China Scholar
July 14, 2023
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Business & MarketsChinese economyde-riskingdecouplingeconomic policieseconomyPolicies & ImpactsreindustrializationUSUS Features
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To cut dependency on the Chinese economy, the United States needs to base its policies on “two pillars”: economic containment of communist China and rebuilding the industrial power in the United States, said Jonathan Ward, a China scholar and founder of the Atlas Organization. American policy toward communist China was guided for decades by the…
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