In a potentially landmark policy reversal, China is considering the legalization of yuan-backed stablecoins as part of a new, concerted effort to expand the global […]
Author: George Kim
Big Tech Falters Amid Inflation Relief and Taiwan Tensions
Major technology stocks, which have driven much of the stock market’s remarkable gains over the past year, have experienced a significant downturn this week. This […]
Labor Market Strengthens as Eurozone Unemployment Drops to 6.4%
In a significant development for the Eurozone, the unemployment rate has fallen to a historic low, underscoring the resilience of the labor market amidst ongoing economic challenges.
March Inflation Data Spooks Markets, Dampens Rate Cut Hopes
The Consumer Price Index (CPI), a key gauge of inflation, rose by 3.5% in March, surpassing the expectations of many economists.
Analysts Dismiss Fears of a Tech Bubble in Soaring Stock Market
In the wake of a robust rally in the U.S. stock market, particularly among AI-focused tech stocks, analysts are weighing in on the discourse surrounding a potential market bubble.
Time to Admit That Economists Cannot Predict the Next Recession
Economists have a dismal track record of predicting recessions, often missing them completely or being too late to recognize them.
Spirit Airlines Shares Tumble After Court Blocks JetBlue Merger
The ruling, which sided with the Biden administration and six Democratic state attorneys general, marked a major setback for Spirit, which had hoped to join forces with JetBlue to create a national low-fare challenger to the dominant Big Four airlines: American, Delta, United and Southwest.
China’s Politburo Focuses on Consumer Demand and Real Estate Crisis
Chinese leaders pledged to boost domestic consumer demand and tackle the country’s real estate crisis following a key meeting that laid out next year’s economic priorities.
China’s Shadow Bank Zhongzhi Faces $65 Billion Crisis
Zhongzhi Enterprise Group, one of China’s largest shadow banks, has declared itself “severely insolvent” and warned of the risk of maintaining normal operations, leaving tens of billions of dollars in losses for its investors.
Biden and Xi Find Common Ground in California Meeting
US President Biden and President Xi Jinping of China held a rare face-to-face meeting on Wednesday, seeking to ease tensions and find areas of cooperation amid a host of thorny issues that have strained the world’s most important bilateral relationship.