Can China’s Economic Stimulus Package Resuscitate its Ailing Economy?
It is no secret that China’s economy has been stagnating. A deflationary spiral looming as the GDP deflator has declined for five consecutive quarters, and economic growth falling short of expectations—growing at just 4% nominal GDP, below the 5% target—the economy faces significant challenges.
China’s Rate Cuts and its Impact on the United States
On Tuesday, Sept. 24, 2024, China announced that its central bank, the People’s Bank of China, will cut its seven-day interest rate from 1.7% to 1.5%. The rate cut, along with a 1 trillion yuan liquid injection, aims to boost their economy that was affected by the COVID-19 pandemic.
China’s Auto Boom Faces Global Pushback Amid Economic and Diplomatic Challenges
As part of an initiative to enhance its economic prowess, China is strategizing its auto-exports to grow its global consumer market share and increase the country’s diplomatic influence.
Hong Kong’s Top Court Loses Another Foreign Judge as Nicholas Phillips Resigns
British judge Nicholas Phillips has become the latest overseas justice to resign from Hong Kong’s Court of Final Appeal, stepping down on Sep. 30.
Beyond the Ban: China's Path to AI Supremacy
The United States’ strategy of export restrictions on computing chips has proven futile as Chinese companies find ways to circumvent these barriers. As China surges ahead with state-backed investments and open-source innovation, the U.S. risks losing its technological edge unless it reevaluates its approach in this escalating AI competition.
China’s Rate Cuts and its Impact on the United States
On Tuesday, Sept. 24, 2024, China announced that its central bank, the People’s Bank of China, will cut its seven-day interest rate from 1.7% to 1.5%. The rate cut, along with a 1 trillion yuan liquid injection, aims to boost their economy that was affected by the COVID-19 pandemic.