May 4, 2026

Economy

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China tightens political control of internet giants

From abcnews.go.com
2021-10-03 10:33:17

Excerpt:

 

BEIJING — The ruling Communist Party is tightening political control over China’s internet giants and tapping their wealth to pay for its ambitions to reduce reliance on U.S. and European technology.

Anti-monopoly and data security crackdowns starting in late 2020 have shaken the industry, which flourished for two decades with little regulation. Investor jitters have knocked more than $1.3 trillion off the total market value of e-commerce platform Alibaba, games and social media operator Tencent and other tech giants.

The party says anti-monopoly enforcement will be a priority through 2025. It says competition will help create jobs and raise living standards.

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Joe Biden: US Bringing 30 Countries Together To Stop ‘Illicit Use Of Cryptocurrency’ – Regulation Bitcoin News

From todayuknews.com
2021-10-03 15:26:25

Excerpt:

President Joe Biden says that the U.S. will bring together 30 countries to stop “the illicit use of cryptocurrency.” The United States is “partnering closely with nations around the world” to respond to the cybersecurity threats, Biden further said.

The White House released a statement by President Joe Biden Friday on the government’s cybersecurity efforts as October is Cybersecurity Awareness Month.

President Biden explained that the U.S. is “partnering closely with nations around the world” to respond to the cybersecurity threats, “including our NATO allies and G7 partners.” He added that this month:

The United States will bring together 30 countries to accelerate our cooperation in combating cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically.

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China’s Communist Party is facing another rebuke of its mandate of heaven claim on authority with the increasing occurance of power outages and factory  shutdowns that have been occuring and, as of the writing of this article, are trending towards being more, not less, frequent.

The problem stems from the rising cost of coal and the nation’s dependence on the envirnmentally damaging source of energy.  There may be other undelying causes such as the growing youth movment of ‘do nothing’ that has formed as a backlash to the ever-increasing demands that are being made on workers’ lives, professional or manual, that seems to be another trend happening in China today.

Still, the buk of the factor behind the rising power outages and factory shutdowns still appears to be mostly the rising cost of coal.

China Hit by Wave of Power Rationing, Outages, And Factory Closures — Radio Free Asia

From www.rfa.org
2021-09-28 13:27:33

Excerpt:

China is facing ongoing power shortages in its industrial northeast triggering a wave of factory closures, with traffic lights, residential elevators, and mobile phone coverage also affected in some cities.

Power rationing is already in place in more than 10 provinces including the northeastern province of Jilin, amid soaring coal prices.

Jilin provincial governor Han Jun called for more channels to secure coal supplies from Russia, Mongolia, and Indonesia, while dispatching teams to secure supplies from China’s northern region of Inner Mongolia.

According to an estimate by Goldman Sachs, as much as 44 percent of China’s industrial activity has been hit by power shortages, leading analysts to cut their 2021 GDP growth forecast for China to 7.8 percent from an earlier estimate of 8.2 percent.

Some shops and hotels in the northeast were lit by candlelight, while homes went without power and malls shut early, amid growing concern that power shortages could also affect water supplies.

Video posted to the social media platform Weibo on Sept. 27 showed traffic queuing in darkness in one city, with captions that quoted Chinese leader Xi Jinping as calling for greater efforts to protect power supplies to ordinary people and keep the generators turning.

The worst-affected areas are mostly concentrated in smaller cities and rural areas, according to media reports.

“The reason for the power outage is that coal is more expensive this year, and in previous years it was imported into China from abroad,” Jilin resident Wang Fengxia said. “So they can’t afford it this year.”

 

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Yellen warns lawmakers U.S. Treasury to hit debt limit Oct. 18

From www.reuters.com
2021-09-28 17:10:00

Excerpt:

WASHINGTON, Sept 28 (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday again warned lawmakers that the nation was close to exhausting its federal borrowing capabilities – now set for Oct. 18 – and urged Congress to act in order to avert “serious harm” to the economy.

“At that point, we expect Treasury would be left with very limited resources that would be depleted quickly,” she wrote in her latest letter to congressional leaders.

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Apple and Tesla Suppliers Hit By Global Energy Crisis. What to Know.

From www.barrons.com
2021-09-27 14:10:00

Excerpt:

A worldwide energy shortage is threatening to develop into a full-blown crisis.

The scenes in the U.K. over the weekend were reminiscent of the 1970s, as drivers queued at thousands of filling stations amid fears of a fuel shortage, sparked by a lack of truck drivers. But the panic at the pumps is really a sideshow. Natural-gas prices in Europe and around the world have skyrocketed amid shortages, leading to higher household bills and suppliers collapsing.

China is experiencing its own energy crunch as shortages have led to record coal prices and soaring natural-gas costs. It’s beginning to have an impact; production at a number of factories—including some supplying Apple and Tesla—has been halted.

 

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Did the IMF Chief Pad the Chinese Numbers?

The International Monetary Fund has long been mega bullish on the main regarding its characterization of China’s economy the past couple of decades,  but, in the past few years, that bullishness was even more bullsh than usual.  Now, accusations have emerged that the IMF chief, Kristalina Georgieva, has been taking kickbacks from the Chinese Communist Party to sugarcoat the reality to assure China continued to be viewed as THE place to invest your money and ship your home nation’s jobs.

What will come of these mounting calls for her resignation?  Well, most likely, the whole affair will be counted up to another Russian troll farm or alt right hater or, or, or, you get the pattern of invalidation.

Amid Calls For Resignation, IMF Chief Kristalina Georgieva Denies Role In Manipulating Data To Boost China’s Ease Of Doing Business Ranking

From sg.news.y

Yahoo.com
2021-09-27 04:18:42

Excerpt:

Amid mounting calls for her resignation, International Monetary Fund (IMF) chief Kristalina Georgieva criticized as “false and spurious” the findings of an independent probe into allegations that as World Bank head she pressured staff to manipulate data to make China’s business climate appear more favorable.

On Sep 16, bank announced that it will be discontinuing ‘Ease of Doing Business’ reports after an in-house investigation found that bank staff improperly altered the scores of China and three other countries.

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Farmers

There is a price to be paid for time, and sometimes that price is paid in what we sacrifice for expediency when it comes to food.  The ramifications of our preferential actions may not be readily appreciated until you consider what is happening to the people that grow and raise the building blocks of all these reductions of food prepping time that our processed foods offer us in current year (which happens to be 2021 as of the writing of this article).

As we get further and further away from the farmer and our mouth, the farmer’s value receeived for the work done has been steadily going down, with various farming markets seeing decreases in value between 16 and 38 percent.  Across the world, wherever people settle into suburbs, wherever suburbs emerge, soon processed food follows, and the farmer’s value is reduced, and the steps between the grown and raised food and reaching your mouth multiply so that the food you eat today after heating it up in the microwave will have parts from perhaps multiple parts of the world shipping their raw food materials to be processed in one placed, packaged in another, and shippped in many others, until it reaches your door.

I’m of course being a bit tongue in cheek when I use suburbs as the proverbial canary in the coalmine of farming, it’s far more of a comple story than that, but there is some measure of truth to what I say.

The truth is, the time we give to convenience is rarely without cost.  Is the loss of the local farmer, of being your own local farmer, a cost worth paying for the convenience of existing more and more on microwabable food way past our college days?

The reliance on large-scale, highly centralized structures to deliver us our daily bread has been exposed in this age of Covid, with numerous shortages having been reported, and still being reported, in various places at various times throughout the world.  Our ability to grow through hydroponics, aquaponics, converting lawns to gardens, urban gardening, has never been more fecund with possibility to meet the unique circumstances of most humans in most places, from the inner city to the frozen tundras of Wisconsin, there is a way to create local, even household, sustainability in our neccessary food resources that will cost us less economically, but will ask of us our time, time we can make events, not work, that whole families and communities can participate in.

It’s only a matter of time that the frozen franks company requires you to scan your id to assure you’re not on any naughty lists that would prevent them from sellling to you, so grow your food now, and help others to do the same, and buy from local farms like so many of us are already doing,  My family as well is shifting our purchases and preparing our land to grow having gone through two experimental seasons with, well, not great results, but great leasons learned.  We are buying more meats and greens from local markets and farms, cooking more foods from scratch, attempting to eliminate the steps between the grown and raised and our mouths.

This isn’t a purist approach, we also still eat plenty of processed foods, though, hopefully, as we learn to grow more efficiently we can prepare our own ‘processed foods’ for convenient consumption, which is possible thanks to canning and freeze drying.

Save a farmer, eat a salad from a farmer’s market.

Farmers get smaller share of what we pay for food

From www.futurity.org
2021-09-27 14:11:51
Ida Eriksen-U. Copenhagen
Excerpt:

Farmers are getting less of what we pay for food, research from 61 countries around the world finds.

The new study in Nature Food examines how much of what consumers pay for food goes to farmers around the world, compared to the rest of the food value chain (FVC), which includes processing, packaging, transportation, and supermarket or restaurant sales beyond the farm gate.

The researchers estimate that up to 85% of the value of a food is created after a product leaves the farm.

“We can see that the farmer’s share of the food value chain in high- and middle-income countries on average has shrunk between 16 and 38% in the years between 2005 and 2015 as countries become wealthier,” explains Eva-Marie Meemken, an assistant professor at the University of Copenhagen’s department of food and resource economics and a coauthor of the study…..

Today, farmers receive on average 27% of the total consumer price for a food product, which means that the largest part of the share goes to processes after the farmer has let go of the product.

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Semiconductor market shortage expected to end by mid-2022

From www.techspot.com
2021-09-21 12:28:00

Excerpt:

 

Fingers crossed: It’s no secret the semiconductor market has been experiencing a worldwide shortage for months now, but according to a new report signalling growth for the chips industry, the shortage could be over as soon as next year.

In what’s sure to be welcoming news for both consumers and suppliers alike due to the lack of chips, analysts from IDC forecast the semiconductor market will grow by 17.3% in 2021. Comparatively, this is a considerable increase from the 10.8% rise we saw in 2020. IDC also believes the semiconductor shortage will be over by mid-2022, and come 2023 may even experience overproduction.

 

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China’s Campaign Against Misinformation is Leaving Investors Without Information

In the name of protecting people from misinformation, China is targeting financial bloggers and shutting them down, allowing only the bloggers that reflect the official state financial positition.  The move is now leaving investors with too little information to make any informed decision on what to invest it.  The dangers of protecting people from misinformation is you end up  promoting solely misinformation, that of the state.

Financial Blogger Crackdown Leaves China Investors Scrabbling For Data

From todayuknews.com
2021-09-16 03:19:09

Excerpt:

 

China has launched a crackdown on financial blogs and social media, a move that risks exacerbating the difficulty of obtaining reliable data about the world’s second-biggest economy.

The restrictions were implemented as fissures widened in the top echelons of Wall Street over whether investing in China was a smart bet.

A snowballing policy overhaul has caught seasoned China investors off guard, spooked markets and sparked questions over which sector would be targeted by Beijing next.

Last month the Cyberspace Administration of China embarked on a “special rectification” campaign. The internet regulator is clamping down on market sceptics and those who voice pessimistic opinions about the Chinese economy — as well as misinformation and malfeasance radiating from financial news services and social media accounts.

China-focused economists, analysts and academics acknowledged the problems caused by uninformed online commentary and rampant fraudulent activity. But they warned that over-reach from the campaign would also silence valuable voices that diverged from the official narratives promulgated by Beijing.

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Chick-Fila’s New CEO is Part of the Family

Chick-fil-A names new CEO | QSR Web

From www.qsrweb.com
2021-09-17 12:15:54

Excerpt:

 

Andrew Truett Cathy will take the reigns as CEO of Chick-fil-A in November, the chain announced Thursday.

Cathy has been executive vice president of operations since 2019 and is the son of current CEO Dan T. Cathy. Dan Cathy will remain chairman of the board, and Tim Tassopolous will continue as president and COO, according to a press release.

“The most successful CEO transitions are made when the next leader is ready to lead. I have every confidence Andrew is ready,” Dan Cathy said in the release. “As a privately held, family-owned business, Chick-fil-A is able to look at succession through a longer lens and approach a transition like this in a thoughtful and coordinated way. While rare in business today, deliberate, long-term succession planning provides us with stability and continuity at a time of tremendous opportunity.”

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