Economy
informed Summary
- A new trend of "austerity influencers" has emerged on TikTok, where users share the sacrifices they've made due to the rising cost of living. These include cutting back on non-essential items like makeup, skincare and eating out, and even more drastic measures like cancelling health insurance and skipping meals.
Economy9 min readinformed Summary
- The Chinese government is focusing on cities like Shenyang, the capital of Liaoning province, to increase productivity and efficiency in factories as the national economy slows due to a real estate crisis.
Economy5 min read- Economy4 min read
informed Summary
- NYT columnist Paul Krugman faced a backlash for using a measure of falling inflation that excluded food, energy, used cars, and shelter. Critics argued that this measure ignored the real concerns of Americans.
Economy4 min read- Economy4 min read
- Economy4 min read
informed Summary
- The global economy is experiencing a shift away from neoliberalism, with countries like Japan and the U.S. adopting policies that were previously associated with each other. Japan is enjoying a resurgence, suggesting a turning point in its 25-year battle with deflation.
Economy15 min readinformed Summary
- China's development model, which has been seen as an alternative to the Washington Consensus, is facing increasing doubts about its sustainability as the country's economy shows signs of slowing down.
Economy4 min readinformed Summary
- Earlier this year, many predicted a global recession, but as of mid-2023, only China seems to be at risk of a prolonged economic slump. Stock markets are thriving in New York, London, Europe, and Tokyo, Koichi Hamada notes.
Economy3 min readinformed Summary
- China's economy, once a formidable growth engine, has faltered, largely due to its struggling, debt-laden property sector. However, economists predict that China’s economic slowdown will only slightly affect global growth.
Economy6 min read- Economy3 min read
informed Summary
- The narrative around China has quickly changed from unstoppable juggernaut to struggling giant. But that's not just down to recent events or the erratic leadership of Xi Jinping. Instead it's a culmination of long-standing economic issues and deep-seated ideological biases within China’s ruling party, argues the NYT's Paul Krugman.
Economy3 min readinformed Summary
- As an Asian democracy, India is well-positioned to capitalize on fraying relations between the U.S. and China. But the true picture is not as rosy as it might seem, argues Kaushik Basu in PS.
Economy3 min readinformed Summary
- Germany is one of the few countries resisting the global trend towards cashless payments, with Germans paying for nearly 60% of their purchases in cash. This is due to a cultural preference for privacy, mistrust of big tech and fears of financial crises depleting bank balances.
Economy7 min read- Economy10 min read
informed Summary
- The town of Magaluf is known for its affordable prices and nightlife, including a strip of pubs, tattoo parlors and lap-dance emporiums that stay active until dawn. It's long been a popular destination for British tourists vacationing on Mallorca.
Economy7 min readinformed Summary
- The ruble's recent depreciation has highlighted just how much pressure the war–and the sanctions imposed in response to it–has placed on Russia’s economy, Sergei Guriev writes in PS.
Economy4 min readinformed Summary
- Kurt Campbell, President Biden's lead Asia diplomat, indicates the U.S. is close to finalizing rules limiting China's tech access. However, current measures only marginally reduce risks, possibly prompting stricter policies and a de-risking spiral, the author argues.
Economy5 min read
