Tag: economic policies

IN-DEPTH: Biden’s EV Plan Could Be Key to China’s Global Economic Dominance

April 17, 2023
Business & MarketsChinaChina Business & EconomyClimate Policieseconomic policieseconomyelectricenergyEPAEVsNational SecurityPolicies & ImpactsPoliticsSpecial TopicsTechUSUS FeaturesUS-China relations
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The Environmental Protection Agency’s (EPA) “strongest-ever” vehicle emissions standards designed to drive mass adoption of electric cars within a decade will increase the United States’ dependence on China, experts warn. “It benefits the Chinese Communist Party because they control the critical minerals supply chain that is going to be necessary to build out the batteries…

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IMF Director Urges ‘Cool-Headedness’ Amid Growing Global ‘Fragmentation’

April 17, 2023
ArchivedBusiness & Marketsdiplomacyeconomic policieseconomyIMFInternationalMarketsNewspeaceRussiaUkraineUSUS NewsWorldWorld Bank
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During last week’s Spring Meetings, Kristalina Georgieva, managing director of the International Monetary Fund (IMF), expressed concerns about “fragmentation”—the global economy splintering into rival trading blocs—warning that it could worsen the global inflation crisis. The IMF chief attributed this risk to a combination of factors, including the ongoing war in Ukraine and flaws in the…

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McCarthy Says House Will Vote on Lifting Debt Ceiling Into 2024

April 17, 2023
Business & Marketscongresseconomic policieseconomyHouse Speaker Kevin McCarthyNew York Stock ExchangePoliticsUSUS debt ceiling
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The House of Representatives will hold a vote on a proposal to lift the nation’s debt ceiling until sometime in 2024, according to House Speaker Kevin McCarthy (R-Calif.), relieving anxiety about a potential default on U.S. financial obligations. McCarthy, during a speech at the New York Stock Exchange on April 17, also outlined the broad strokes…

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McCarthy Says House Will Vote to Lift Debt Ceiling Into 2024

April 17, 2023
Business & Marketscongresseconomic policieseconomyHouse Speaker Kevin McCarthyNew York Stock ExchangePoliticsUSUS debt ceiling
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The House of Representatives will vote to lift the nation’s debt ceiling until sometime in 2024, according to Speaker Kevin McCarthy (R-Calif.), relieving anxiety about a potential default on U.S. financial obligations. The speaker made the announcement in a speech at the New York Stock Exchange on April 17, during which he also outlined the…

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Hunt Says Biden’s Green Energy Policies Will Send World Into Economic ‘Dark Ages’

April 17, 2023
Business & Marketseconomic policieseconomyenergygreen energyJeremy HuntJoe BidenUKUSUS NewsWorld
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The UK’s Chancellor of the Exchequer, Jeremy Hunt, has criticised U.S. President Joe Biden’s green energy policies and said they risk pushing the world economy into the “dark ages.” Biden approved a $369 billion package of subsidies for U.S. climate and energy businesses, but Hunt said it could lead to other countries putting up trade…

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S&P 500 Opens Flat as Investors Focus on Earnings, Fed Cues

April 17, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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The benchmark S&P 500 index opened flat on Monday as investors awaited more bank earnings and views from Federal Reserve policymakers that could shape expectations around when the central bank would pause its monetary policy tightening. The Dow Jones Industrial Average rose 43.99 points, or 0.13 percent, at the open to 33,930.46. The S&P 500…

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Dollar Hits 1-month High Against Yen as Traders Bet on Fed Rate Hike

April 17, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar climbed to a one-month high against Japan’s yen on Monday as traders eyed up another interest rate hike from the Federal Reserve, while the Bank of Japan stuck to its easy-money policies for now. The dollar rose to 134.22 yen earlier in the session, the highest level since March 15. It was last…

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Oil Steady as Market Awaits Chinese GDP Data

April 17, 2023
Business & MarketsChinaChina Business & Economyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer. Brent crude futures were down 13 cents to $86.18 a barrel at 1018 GMT, while U.S. West Texas Intermediate crude was at $82.33 a barrel, down 19 cents. Both contracts notched their…

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Global Shares Rise Despite Economic Growth, Rate Worries

April 17, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global markets rose moderately Monday, although worries continued about economic growth and inflationary pressures. France’s CAC 40 rose less than 0.1 percent in early trading to 7,522.58. Germany’s DAX gained 0.2 percent to 15,830.74. Britain’s FTSE 100 added 0.5 percent to 7,911.91. U.S. shares were set to drift higher with Dow futures up less than…

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Brazil’s Lula, China’s Xi Solidify Anti-West Bloc Aimed at Displacing US

April 16, 2023
AmericasBRICsBusiness & MarketsChinaChina Business & EconomyChinese Regimeeconomic policieseconomyGlobal ExpansionLulaMarketsPoliticssocial controlSpecial TopicsUSUS NewsWorld
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Amidst the buzz surrounding Brazilian President Luiz Inácio Lula da Silva’s China visit that began on April 12, the leaders of both countries have signed more than 20 new bilateral agreements. On the surface, the trip was a run-of-the-mill diplomatic visit. However, some say it underscores an ongoing deprioritization of relations with the United States. China…

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