America is moving fast toward a stagflation economic crisis, where costs go up and the available money goes down. Yet, according to a former top economic adviser to President Donald Trump, this crisis is still avoidable. Stephen Moore is a former member of Trump’s Economic Task Force and is an economic adviser. We spoke with…
[Premiering 05/13, 7:30 PM ET] Bad Politics Are Driving America to a Stagflation Disaster: Stephen Moore
China Ramps up Infrastructure Investment Despite Near-Saturated Market
China doubled its investment in major infrastructure projects in the face of downward economic pressure, with total investment exceeding 1 trillion yuan (about $156.8 billion) in early 2022. Given that the country’s infrastructure is close to saturation, such a move might not be effective, a financial source believes. “Ramping up infrastructure investment is likely difficult…
Record US Trade Deficit, Slowing Wholesale Inventory Gains Seen Curbing Economic Growth
WASHINGTON—The U.S. trade deficit widened to a record high in January as businesses imported more goods to rebuild inventories, potentially setting up trade to remain a drag on economic growth in the first quarter. Though inventory accumulation continues, the pace is cooling, with other data from the Commerce Department on Tuesday showing the increase in…
Staff Shortages, Supply Backups Batter EU Economic Growth
BRUSSELS—The European Union is seeing its economic emergence from the unprecedented COVID-19 slowdown hampered by coronavirus-induced staff shortages, supply bottlenecks, runaway energy prices, and subsequent inflation surges. In its winter 2022 forecast, the European Commission said Thursday that even though the economy has rebounded from stunning losses at the height of the pandemic crisis, key…
US–China 2022 Relations: What Could Change
“Made in China.” Those three words appear on everything from computers, to toys, to massive industrial parts. But behind those three words is a history of forced labor, human rights abuses, and stolen trade secrets. As Democratic countries rally behind the call for freedom and holding the Chinese communist regime accountable for its human rights…
Canada Seeks Deeper Trade Links With Taiwan, as Part of New China Strategy
OTTAWA—Canada’s decision to pursue a foreign investment protection agreement with Taiwan, amid its ongoing tension with mainland China is being greeted with widespread approval in trade and diplomatic circles. International Trade Minister Mary Ng announced Canada’s intention in a statement released by her office today. Ng says she spoke Sunday with a Taiwanese minister, adding…
Euro Zone Economic Recovery Stumbled in December as Omicron Spread: PMI
LONDON—The euro zone’s economic recovery stuttered in December as a renewed wave of COVID-19 infections curtailed growth in the bloc’s dominant service industry, a survey showed on Wednesday, and could weaken further if tighter restrictions are imposed. As the Omicron coronavirus variant spread rapidly at the end of last year governments reimposed measures to contain…
Federal Documents Hint at Sweeping Economic Impact From Central Bank ‘Digital Loonie’
OTTAWA—Internal government documents show Finance Department officials believe there could be sweeping implications for the economy if the Bank of Canada ever issued its own cryptocurrency. The Bank of Canada has spent years looking at whether to introduce a digital currency, but so far hasn’t seen an immediate need to issue one. In one briefing…
UK Economy Sees Steeper Slowdown in Third Quarter
UK economic growth slowed more sharply than first thought between July and September and fears are mounting that Omicron and accompanying control measures will send the recovery into reverse. The Office for National Statistics (ONS) said the economy expanded by 1.1 percent in the third quarter, compared with an initial estimate of 1.3 percent. This…
Highlights From Finance Minister Chrystia Freeland’s Fall Economic Statement
December 14, 2021
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OTTAWA—Finance Minister Chrystia Freeland released a fall economic statement today that outlined a better-than-expected economic rebound, but also billions more in spending, including on the response to the Omicron variant of COVID-19. Here are some other measures outlined in the fiscal update. Immigration backlogs The federal government plans to put $85 million into plowing through…
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