Biden has an eye on China as he heads to South Korea, Japan

WASHINGTON (AP) – President Joe Biden departs on a six-day trip to South Korea and Japan aiming to build rapport with the two nations’ leaders while also sending an unmistakable message to China: Russia’s faltering invasion of Ukraine should give Beijing pause about its own saber-rattling in the Pacific. Biden departs Thursday and is set … Read more

EXPLAINER: Why is a bear market close to Wall Street?

NEW YORK (AP) – The bears are rumbling toward Wall Street. The stock market’s skid has taken off this year with the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices of … Read more

China’s Economic Activity Collapses Under Xi’s Covid Zero Policy

Industrial output unexpectedly fell 2.9% in April from a year ago, while retail sales contracted 11.1% in the period, weaker than a projected 6.6% drop. The unemployment rate climbed to 6.1% and the youth jobless rate hit a record. Investors responded by selling everything from Chinese shares to US index futures and oil. China’s economy … Read more

China’s harsh lockdowns could exacerbate the population crisis

And so when a Shanghai family refused to be taken from their home into government quarantine during the city’s sixth week of lockdown, a police officer warned them with what he thought would be a powerful threat to bring them to heel – their children’s future. “If you do not obey the orders from the … Read more

Lithium’s vital role in energy transition sends prices to record highs. How to play it

The all-electric future, where homes, cars and buildings run on clean energy, depends on a host of raw materials, but perhaps more than one rest: lithium. Prices for the key metal have shot up over the last year as projections suggest that demand is going to vastly outstrip supply. On one side there are vast … Read more

The economic outlook may not be as bad as the market fears. Here’s where investors should look

Inflation is soaring, the stock market is tumbling and consumers are worrying more and more about their future. None of that is good, but it’s time to tap the brakes on a little worries that everything is crashing down. After a quarter of negative economic growth, Q1 GDP fell 1.4%. All it needs is a … Read more

Biden names envoy to SE Asia bloc, stressing US attention

WASHINGTON (AP) – President Joe Biden on Friday announced he’s nominating one of his top national security aides as ambassador to the Association of Southeast Asian Nations, aiming to underscore his administration’s commitment to the Pacific region. Biden announced his decision to nominate Yohannes Abraham, chief of staff to the White House National Security Council, … Read more

The Economy About Nine Worrying Signs

Sign up for Derek’s newsletter here. The American economy isn’t looking great right now. US GDP shrank last quarter, most likely showing a heartbeat from American consumers. Inflation is high; markets are down; Both wages and personal-savings rates show some troubling statistical signals. Is the US destined to have a recession in 2022? For sure … Read more

Recession Fears Loom Large Over Bullish Oil Market

The price of gasoline in the US hit an all-time high on Tuesday as the national average spiked $ 0.17 / gallon from last week to $ 4.37 / gallontopping the previous all-time high set March 8. The European Union’s discussion of pulling back from buying Russian oil has sent additional shock waves through an … Read more

Marcos presidency complicates US efforts to counter China

MANILA, Philippines (AP) – Ferdinand Marcos Jr.’s apparent landslide victory in the Philippine presidential election is giving rise to immediate concerns about a further erosion of democracy in the region, and could complicate American efforts to blunt growing Chinese influence and power in the Pacific. Marcos, the son and namesake of longtime dictator Ferdinand Marcos, … Read more