The German economy, historically known as the powerhouse of Europe, is currently facing significant challenges. Its heavy reliance on Russian energy and trade with China needs to be reduced, and new sources of growth must be identified. This will require substantial investment and time. Consequently, Germany’s stock market has fallen behind the U.S., with a …
Text size Evergrande has long symbolized China’s sprawling and distressed property sector. Getty Images Evergrande has filed for bankruptcy protection in the U.S. nearly two years after its descent into distress triggered a crisis across China’s property sector. More risks, beyond developers, are brewing in the world’s second-largest economy. Evergrande filed for Chapter 15 bankruptcy …
Introducing Work in Progress, a curated newsletter by Derek Thompson that covers important topics such as work, technology, and innovative solutions for America’s biggest problems. Don’t miss out on this weekly newsletter by signing up here! In 2022, there was widespread belief that the economy in 2023 would be a complete disaster. Last year, a …
Last week, during a Fox News town hall event, former President Donald Trump expressed his admiration for China’s leader, Xi Jinping, referring to him as a “brilliant” individual who governs 1.4 billion people with unwavering authority. Trump’s sentiments are not unique, as many people in the United States and around the world are drawn to …
The United States is embarking on a new chapter in its economy with the Federal Reserve raising its benchmark interest rate. In July 2023, the federal funds effective rate surpassed 5%, marking a significant shift after four decades. Economists predict that as interest rates continue to rise, financial conditions will return to a more normal …
If one were to argue that it’s wrong to desire a picturesque neighborhood populated by affluent individuals who can comfortably afford expensive housing, it seems that most Americans would disagree. This poses a significant challenge for the YIMBY (“Yes in My Backyard”) movement, a diverse group of scholars, policymakers, and grassroots activists who believe that …
Mayors in cities across the United States are seeking to relax regulations that impede the conversion of office spaces into residential properties. Some cities are even offering attractive tax incentives to developers who take on the task of constructing new housing units. During a news conference in December 2022, Washington, DC Mayor Muriel Bowser expressed …
In 1919, Lu Xun, a renowned writer in modern China, penned a captivating short story featuring a destitute Confucian scholar named Kong Yiji. Kong, having failed the imperial civil-service exams, refused to settle for a menial job and fell into poverty. The villagers, lacking sympathy for his predicament and disregarding his intellectual prowess, ridiculed and …