WASHINGTON—The Biden Administration on July 22 announced an economic development plan that would invest $3 billion in distressed and underserved communities affected by the pandemic to support jobs and economic recovery. The initiative would bring “transformative growth” to communities throughout the country by investing in infrastructure, innovation, and workforce training, according to Secretary of Commerce…
White House Investing $3 Billion to Get Americans Back to Work
July 22, 2021
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China’s Economic Recovery Loses Some Steam, Investors Eye More Policy Easing
BEIJING—China’s economy grew slightly slower than expected in the second quarter, weighed down by higher raw materials costs and new COVID-19 outbreaks. Expectations build that policymakers may have to do more to support the recovery. Gross domestic product (GDP) expanded 7.9 percent in the April-June quarter from a year earlier, official data showed on July…
Tourism Rebounds in Orange County
July 3, 2021
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The tourism industry in Orange County, Calif. is once again booming as more visitors make their way to its popular beaches and renowned attractions. “We are breathing a little easier around here now,” Jay Burress, president and chief executive of Visit Anaheim, told The Epoch Times. “Things are coming around.” Hotel occupancy in Anaheim—perhaps best known…
Republican Criticizes California’s ‘Behind the Scenes’ Budget
June 29, 2021
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The California Legislature approved a $262.6 billion budget proposal June 28, the largest in the state’s history, but a Republican state lawmaker said Democrats have corrupted the process through backroom deals that rob transparency and leave no room for outside input. In the state budget proceedings, when reviewing senate and assembly versions of the budget, which are always different, a conference committee would…
Santa Ana Outlines $130 Million Federal Aid Spending Plan
May 26, 2021
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The City of Santa Ana, Calif. on May 24 revealed its spending strategy for the $130 million in federal funds it will receive through the American Rescue Plan Act (ARPA). The funds will be delivered to the city’s designated departments in two tranches, one year apart. Santa Ana will receive $79.5 million in the first installment. The city is…
China’s Industrial Commodities Slide After Beijing Warns of Market Crackdown
May 20, 2021
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China’s main industrial commodities tumbled on Thursday after the government announced stepped-up measures to keep a lid on soaring raw materials prices which threaten to undermine the country’s economic recovery. Prices of key steelmaking ingredients iron ore and coking coal, as well as steel products such as rebar and hot-rolled coil, all dropped more than…
98 Percent of the Way There: Trump’s Super V-Shaped Recovery
Commentary The U.S. economy peaked in late 2019 at $21 trillion. We are now remarkably 98 percent back to where we were before the terrible COVID-19 pandemic slammed these shores 14 months ago. This rebound is one of the outstanding U.S. achievements in history. Since June of last year, the economy has rocketed by 34…
Australia’s Budget ‘Red Hot’ Despite Pandemic Downturn: Deloitte
Deloitte Access Economics partner Chris Richardson has released his influential, twice-yearly Budget Monitor, which paints a pretty picture for Australia’s “red-hot” recovery from the economic impact of the CCP virus pandemic. As a result, smaller deficits than forecast are expected when Treasurer Josh Frydenberg hands down his budget on May 11. This puts Australia tens of billions…
Anaheim Convention Center Holds First Event Since Start of Pandemic
April 23, 2021
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The Anaheim Convention Center is set to host its first non-medical event since February 2020, before the onslaught of the pandemic. It will be the backdrop of a Starpower Talent dance competition April 23 through April 25, as part of the company’s regional tour. The event is expected to bring more than 500 attendees. The president and chief executive of…
The United States: Hardly a Recovery
Commentary There’s an overly optimistic consensus view about the speed and strength of the U.S. recovery that’s contradicted by facts. It’s true that the U.S. recovery is stronger than the European or Japanese one, but the macro data shows that the euphoric messages about aggregate GDP growth are wildly exaggerated. Of course, GDP is going…
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