Business and Technology
As Global Luxury Sales Fall, the High-Fashion Industry Grapples
Post COVID-19, the luxury industry has taken hits after hits from multiple angles and aspects. The novelty is wearing off for entry-level consumers which discourages mass purchases, and the purchase power weakening amongst a massive revenue source - Chinese customers - waning economic prospects.
EU’s Decision on Chinese EVs and Germany’s Response
On Friday October 4, 2024, the European Union (EU) finished voting on the proposed tariffs on Chinese electric vehicles (EVs). While countries like Hungary and Germany vocally disagreed to this proposition, a majority of EU countries had already voted in favor of the tariffs. The tariffs are only the beginning of a potential long-lasting economic cold war between China and the West.
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 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.
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.
Testing Economic Alliances: The US and Europe fail to move past Trump-Era Tariffs
The United States and Europe have historically been close allies, sharing common values, strategic interests, and extensive economic ties. However, Biden’s reluctance to eliminate the existing trade tariffs imposed by the former Trump administration has caused a rift between the two economic powerhouses.
China's Trade Activities Show Slower Decline; Deflationary Pressure Remains
The State Council of China released the national trade report for September 2023, which signaled a slowdown in the previous export slump. But concerns for policymakers remain as lingering deflationary pressure still challenges economic recovery.
Unpacking the AI chatbot race: How have tech giants fared against Microsoft’s ChatGPT?
Almost three months after its creation, Microsoft’s ChatGPT has become the face of technology’s latest innovations in artificial intelligence, launching thousands of high-performance, AI-powered search engines.
China Uses Sophisticated Surveillance Technology to Track Down and Intimidate Protestors
China’s pervasive technological surveillance system implicated numerous people present at last week’s widespread protests against Zero Covid policies. Methods of tracking protestors include facial recognition technology and tapping into and collecting data from iPhones present at protests.
USA's Newest Round of Trade Restrictions against China
As tensions continue to heighten between the US and China, the US has unleashed its latest restrictions on Chinese technology.