Tag: Economic Conditions and Trends

For Some 2020 Democrats, Rejection of Amazon Aligns With Far-Left Policy Views

The decision by Amazon this week to abandon its planned headquarters in New York City tapped into one of the major themes of left-wing Democrats: that giant corporations — and in some cases the billionaires who run them — must be held to account for wage inequality, corporate greed and middle-class stagnation. And some contenders […]

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Few Are Inspired to Follow America’s Lead on Iran

Nearly 30 years ago, the United States used its diplomatic clout to persuade Israel and its Arab neighbors to meet publicly for the first time, at the 1991 Madrid Peace Conference, which opened the door to greater Arab acceptance of Israel. On Wednesday and Thursday, leaders of Israel and Arab states met publicly again, at […]

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How China Brings Us Together

I’ve always thought Americans would come together when we realized that we faced a dangerous foreign foe. And lo and behold, now we have one: China. It’s become increasingly clear that China is a grave economic, technological and intellectual threat to the United States and the world order. And sure enough, beneath the TV bluster […]

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German Growth Stagnates as Trump Trade War Starts to Bite

FRANKFURT — The once seemingly unstoppable German economy had the slowest growth of any eurozone country except Italy at the end of 2018, according to data published on Thursday that brought the impact of President Trump’s trade war into stark relief. Germany’s economy did not grow at all in the year’s final quarter, and it […]

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Feature: Shopping in Pyongyang, and Other Adventures in North Korean Capitalism

One Night in Pyongyang, around 9 p.m., my North Korean minder, S., and I pulled into the empty parking lot of the Chongryu Restaurant on the quiet banks of the Potong River. It was the spring of 2017, and, though I didn’t know it at the time, I was among the last Americans to visit […]

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Virginia’s Economy Weathers the Storm in Its Statehouse

As politicians across the country demand a change in Virginia’s embattled leadership, business leaders are largely sticking to the sidelines. Leading Virginia business groups have stopped short of calling for the resignation of the state’s top three elected officials, all embroiled in personal scandals. Most corporate executives have avoided weighing in at all. And there […]

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U.S.-China Trade Talks Face Big Obstacle: Ensuring That Promises Are Kept

BEIJING — When China joined the World Trade Organization, the global fraternity of cross-border commerce, it promised to open itself up to foreigners in lucrative businesses like banking, telecommunications and electronic-payment processing. More than 17 years later, China’s telecommunications industry remains firmly under government control. Only recently did China say it would allow foreign companies […]

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Trump Says U.S. May Delay China Trade Deal Deadline

WASHINGTON — President Trump said on Tuesday that he would consider delaying a March 2 deadline to reach a trade deal with China, saying the United States might not impose higher tariffs on Chinese goods if talks with Beijing were going well. “If we’re close to a deal where we think we can make a […]

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New York Needs Amazon

On Nov. 13, 2018, Amazon announced that New York would become one of two locations for the company’s second North American headquarters, ending a competition that had involved more than 200 places, including cities as diverse as Chicago, Atlanta, Denver, Newark and Austin, Tex. But there was hardly any cheering in New York. State Senator […]

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Venezuela: A Nation Gripped by Hyperinflation

I’d seen the black and white photos of German children using bundles of money as building blocks during the Weimar Republic. I’d read about the skyrocketing price of bread in Zimbabwe, and how people were carrying their cash in wheelbarrows. But nothing you read can prepare you for life with hyperinflation. In the Weimar Republic […]

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Cryptocurrency Was Their Way Out of South Korea’s Lowest Rungs. They’re Still Trying.

SEOUL, South Korea — Kim Ki-won is keeping a secret from his parents. It isn’t just that he has bought and sold an immense number of digital coins. Mr. Kim, who is 27 and lives with his parents, once made so much money trading cryptocurrencies that he was spending $1,000 a month on whatever he […]

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Workers’ Activism Rises as China’s Economy Slows. Xi Aims to Rein Them In.

BEIJING — Factory workers across China are staging sit-ins demanding unpaid wages for “blood and sweat.” Taxi drivers are surrounding government offices to call for better treatment. Construction workers are threatening to jump from buildings if they don’t get paid. With economic growth in China weakening to its slowest pace in nearly three decades, thousands […]

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With Savings to Burn, Russia Turns (Again) to a State-Led Spending Plan

MOSCOW — Russia has become a world-class saver. So much gold has piled up in its central bank that Russia surpassed China last year to become the world’s fifth-largest holder of gold. The International Monetary Fund often has to badger developing nations to bulk up foreign currency reserves. Russia has $472 billion in reserves, more […]

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Who Supports Which Leader in Venezuela? Why Is This Important?

CARACAS, Venezuela — The world is increasingly taking sides on who should be the rightful leader of Venezuela. On one side is President Nicolás Maduro, whose socialist government is seen as increasingly corrupt, inept and repressive. On the other is the opposition led by Juan Guaidó, the 35-year-old National Assembly leader who declared himself interim […]

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Australian Banks Overcharged Clients, Even After Some Died, Report Finds

SYDNEY, Australia — They charged their clients fees as they gave bad advice. They charged their clients fees for doing nothing at all. Sometimes, they kept charging the fees after their customers had died. A royal commission appointed by the Australian government released a stinging report on Monday that criticized the country’s powerful banking and […]

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India Can Hide Unemployment Data, but Not the Truth

ImageCreditChanni Anand/Associated Press India has a job crisis, and the government would rather you didn’t notice. Last month, it hastily amended the Constitution to set aside 10 percent of all government posts for the “economically weak.” But it defined the “economically weak” as anybody from a household earning less than 800,000 rupees, roughly $11,200, a […]

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Italy Slides Into Recession as Europe Stalls, Stoking Global Fears

Italy has officially slipped into recession, and Europe as a whole is essentially at an economic standstill, raising anxieties that the world is on the verge of a significant slowdown. The timing could not be worse. The lousy performance of the Italian economy, reported on Thursday, is likely to aggravate relations between the European Commission […]

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Indian Leaders Are Accused of Covering Up 45-Year High in Unemployment

NEW DELHI — The Indian government was accused on Thursday of covering up an alarming jobs report that apparently shows the country’s unemployment rate at a 45-year high. Two economic advisers to the government resigned this week in what was widely viewed as a protest against the country’s leaders, who appeared to be withholding the […]

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Iran Faces Worst Economic Challenge Since 1979 Revolution, Its President Says

TEHRAN — Iran, squeezed by punishing American sanctions, is confronting its most severe economic challenge in 40 years, President Hassan Rouhani said on Wednesday, arguing that the Iranian government “should not be blamed” for the crisis. The Trump administration reimposed sanctions on Iran last year after President Trump decided to withdraw from the international nuclear […]

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Trump Says the Economy Is Unstoppable. Most Economists Say Otherwise.

The Trump administration’s rosy view of the economy is increasingly diverging from a decidedly more cautious outlook from other prognosticators, including economists at the Federal Reserve and elsewhere, who are warning that growth is slowing, in part because of the president’s own policies. The side that turns out to be correct could heavily influence President […]

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