Global markets are tanking ahead of a huge week for central banks

Global markets are tanking ahead of a huge week for central banks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, June 1, 2022. Brendan McDermid | Reuters LONDON – Global stock markets are falling sharply after May’s US inflation print reignited fears that central banks will be forced into aggressive monetary policy tightening. Friday’s highly-anticipated consumer price index … Read more

Cryptocurrency industry focus: Regulation, stablecoins, market crash

Cryptocurrency industry focus: Regulation, stablecoins, market crash

A visual representation of Bitcoin cryptocurrency. Edward Smith | Getty Images Cryptocurrency companies dominated the main street at the World Economic Forum in Davos this year, a notable difference between this edition and the last one in 2020. The high-profile presence from the industry came even as the cryptocurrency market crashed. It was sparked by … Read more

Self-driving car companies’ first step to making money isn’t robotaxis

Self-driving car companies’ first step to making money isn’t robotaxis

A WeRide robotaxi with health supplies heads to Liwan district on June 4, 2021, in the southern Chinese city of Guangzhou. Southern Metropolis Daily | Visual China Group | Getty Images BEIJING – While governments may be wary of driverless cars, people want to buy the technology, and companies want to cash in. It’s a … Read more

China faces a nearly $ 1 trillion funding gap. It will need more debt to fill it.

China faces a nearly $ 1 trillion funding gap.  It will need more debt to fill it.

During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING – The Chinese government faces a growing shortfall of cash, analysts say, as they … Read more

No global recession yet but brace for stagflation, economists say

No global recession yet but brace for stagflation, economists say

A global recession is not imminent, but brace for rising costs and slower growth, economists say. “There will be no sudden ‘after’ of stagflation,” said Simon Baptist, global chief economist at the Economist Intelligence Unit, referring to a surprise recession after a period of stagflation. As the war in Ukraine and pandemic disruptions continue to … Read more

Gina Raimondo warns US needs to secure future for chip industry

Gina Raimondo warns US needs to secure future for chip industry

Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies hearing on Capitol Hill in Washington, DC, US, February 1, 2022. Andrew Harnik | Reuters US Commerce Secretary Gina Raimondo on Wednesday urged Congress to pass the CHIPS for America Act in order to safeguard national security and … Read more

China’s consumer prices climb as Covid prompts food stockpiling

China’s consumer prices climb as Covid prompts food stockpiling

Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING – China’s consumer and producer prices rose more than expected in … Read more

US businesses in China cut revenue forecasts, investment plans

US businesses in China cut revenue forecasts, investment plans

Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China … Read more

China’s Xi calls for another infrastructure push as Covid drags on

China’s Xi calls for another infrastructure push as Covid drags on

China had 37,900 kilometers (23,550 miles) of operational high-speed rail as of the end of 2020, which the country claims accounts for more than two-thirds of the world’s total. Zhang Bin | China News Service | Getty Images BEIJING – As Covid controls drag down growth, China plans to boost its economy with more infrastructure … Read more