This week, U.S.-based credit rating agency Moody downgraded China’s economic outlook. Though not an official credit downgrade — China’s credit remains rated A1 — the news still carries heavy significance, as an outlook downgrade is generally the first step taken before credit is downgraded in the future.
On Oct. 25, Hurricane Otis struck the city of Acapulco on the Pacific coast of Mexico, leaving the country with landslides, flooding, and devastation, becoming the second-strongest storm in Mexico's history.
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.
