Commentary Beijing is looking to resuscitate its technology sector growth in order to rescue its ailing economy. China’s more than two-year clampdown on its sprawling technology sector may finally be ending. And global investors have raced to snap up shares so far this year. The years-long campaign to rein in China’s internet platform companies is…
China Looks to Boost Tech to Make Up Growth
January 30, 2023
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Business & MarketsBusiness ColumnistsChinaChina Business & EconomyOpiniontechnologyThinking About China
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Capitalism Is Broken If Record Profit Margins Don’t Revert
Commentary According to British investor and co-founder of the Boston-based asset management firm GMO, Jeremy Grantham, “Profit margins are probably the most mean-reverting series in finance. And if profit margins do not mean-revert, then something has gone badly wrong with capitalism.” While there are certainly many complaints that capitalism is “broken,” such is not the case. Yes,…
Data Point to a Recession in 2023
Commentary The saving grace of the U.S. economy for most of 2022 had been employment, which had printed positively each month. Employment even seems to have ameliorated the two consecutive quarters of declining GDP that occurred in the first half of the year that we identified as a recession. Unfortunately, we don’t think 2023 will…
China’s Electric Vehicles Could Destroy America
January 28, 2023
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Business & MarketsBusiness ColumnistsBYDChinachina electric vehicles (EVs)OpinionThinking About China
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Commentary Since 2020, China’s electric vehicle makers have been on a streak. Other vehicle manufacturers are starting to look nervously in their rear-view mirrors, err … cameras, and in some cases, side-views. Some, like Volvo, are even looking at their stock and realizing that a Chinese competitor has already bought a controlling share. Is China’s…
The Future of Tech
January 27, 2023
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5-G networksalgorithmBusiness & MarketsBusiness ColumnistsCloud computinghealthcareOpinionViewpoints
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Commentary These days the word “tech” typically brings to mind the internet, apps, and social media. It is only reasonable. These aspects of technology have come to dominate daily life for many. But technology is a whole lot broader than social media or even the internet, and it is poised to revolutionize how the entire…
Economic Impact of an Aging China
January 26, 2023
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AgingBusiness & MarketsBusiness ColumnistsChinaChinese populationeconomygender imbalanceOpinionThinking About China
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Commentary China’s population drop will coincide with an economic contraction. For the first time since 1961, the Chinese population is in decline. This year, India is climbing to the position of the world’s most populous country, relegating China to second place. With a smaller population and a slowing economy, China achieving its global ambition of surpassing…
Your Living Standards Have Declined Dramatically
January 24, 2023
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Business & MarketsBusiness Columnistsinflationliving standardsOpinionrecessionU.S. economyViewpoints
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Commentary In the old days, shopping for groceries used to be a joy. By old days, I mean two years ago. Now, it is shocking and miserable. You look at these prices and wonder if you can even afford normal foods we took for granted. Everyone knows about the egg problem, which is being chalked…
Apple Can’t Kick the iSlavery Habit in China
Commentary The history of Apple’s success is so inextricably linked to China that we should start thinking of it as a Chinese rather than an American company. Apple’s leading design engineers, marketing gurus, and what could be called addiction specialists (who impede Apple users from using other brands through hardware and software incompatibilities) rule from…
China’s Shrinking Economic Base
Commentary China’s latest statistical release seems to have caused quite a stir. Beijing has announced that the nation’s population has declined outright—by some 850,000—since the last census. More impressive still, United Nations demographers see continued shrinking from a population of 1.4 billion presently to 1.3 billion in 2050, to 800 million or so by the…
Recession in 2023? Nothing Like 2008
Commentary December numbers indicate the most widely predicted recession is underway. How serious will it be? The answer will depend in large part on upcoming Federal Reserve policy. If the Fed avoids the mistakes it made in 2008, it will slay the inflation dragon with only a moderate 2–3 percent decline in real output. Last…
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