Bundesbank President Joachim Nagel said he hopes that Europe can overcome trade difficulties with China, but should be ready to take firm action if necessary. “I think this retaliation question, I think at the end, it has to be decided by politics where we are going here, is retaliation the right strategy?,” he told the…
China’s Communist Party Central Committee has announced its economic and industrial priorities for 2026–2030, pledging to build a “modern industrial system” and accelerate technological self-reliance. The decision, reported by Xinhua, follows a key leadership meeting this week where officials assessed China’s performance under the current five-year plan and mapped out the next phase of economic…
Yet equally persuasive are signs of structural weaknesses: rising debt, an aging population, a collapsed real estate market, and rising youth unemployment. China’s economy, some say, has peaked. “Involution,” or wasted production, is not only the word of the year in China but for some is another sign of an inescapable downward growth spiral. If…
China’s national railway network carried 23.13 million trips on the first day of the extended National Day holiday on Wednesday, setting a new single-day record and surpassing last year’s 21.45 million. The eight-day break, which coincides with the Mid-Autumn Festival, is traditionally one of the busiest periods on China’s travel calendar. Authorities project a total…
Private payrolls plunged in September, complicating the picture for the US economy as policymakers and investors struggle to assess the state of the labor market amid a government shutdown. The Bureau of Labor Statistics is unlikely to release the monthly jobs report this Friday due to the closure. That means many flying blind without critical…
Americans still opened their wallets last month, despite persistent fears about the economy, a slowing labor market and higher tariffs. Spending at US retailers rose 0.6% in August, the Commerce Department said Tuesday, unchanged from July’s upwardly revised 0.6%. Last month’s figure came in much better than economists’ expectations of a 0.2% increase, according to…
China’s factory activity remained stuck in contraction in August, as a government crackdown on price wars holds back production and offsets the boost for manufacturers of the US’ extended trade truce. The official manufacturing purchasing managers’ index was 49.4, versus 49.3 in July, the National Bureau of Statistics said Sunday. The median estimate of economists…
Back in 2010, a congressionally mandated US government study spotlighted how China’s dominant position in the rare earths market gave it the power to affect worldwide supply and prices. Rebuilding a US rare earth supply chain might take up to 15 years, the analysis showed. Those 15 years would take us to…right about now. But…
The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. A 7-4 decision by a panel of judges Friday night in Washington was a major setback for Trump even as it gives both…
The warming of ties between India and China appears to be accelerating. Both burned by US President Donald Trump’s tariffs on their exports, the world’s most populous nations took a major step last week to move beyond a deadly 2020 border clash by agreeing to redouble efforts to settle such disputes, which date back to…