Episode 1
1. "Global trade falls at fastest pace since pandemic" Where trade worldwide takes a deep plunge as the pandemic continues, with the sharpest decline ever recorded. The surge in inflation, interest rate hikes, and increased spending on services have all contributed to a significant decrease in demand for exported goods.
Source: https://www.ft.com/content/36982601-b...
2. "China Blocks Executive at U.S. Firm Kroll From Leaving the Mainland" A senior executive at U.S. risk advisory firm Kroll has been prevented from leaving mainland China, highlighting the increasing risks faced by foreign companies operating there. The executive, Michael Chan, is assisting in an investigation into a past case and is not the target of the investigation. This action comes amid heightened scrutiny of foreign companies in China, with recent raids and questioning of staff from other firms. Exit bans, which can last for extended periods, are commonly imposed by China during investigations. Western officials and human rights groups criticize the use of these bans, seeing them as a means of intimidation and leverage. The U.S. State Department has advised its citizens to reconsider travel to China due to arbitrary law enforcement.
Episode 2
"Asia faces one of worst economic outlooks in half a century, World Bank warns"
Asia's economic outlook for 2024 has been downgraded by the World Bank, citing several factors including sluggish post-pandemic recovery, China's property crisis, and US trade policies. The region is expected to see one of its slowest growth rates in half a century, with developing economies in east Asia and the Pacific expanding at just 4.5%. China's growth is expected to be particularly weak, with the World Bank cutting its forecast to 4.4%. The slowdown in growth is being attributed to a number of factors, including weak domestic demand, rising debt levels, and US trade policies that are diverting investment away from the region. South-east Asian countries are particularly feeling the impact of these policies, with exports of electronics and machinery to the US declining. Concerned countries are rushing to fight back, negotiating with the US for exemptions from local content requirements attached to subsidies.
Episode 3
"Indian police raid news site alleged to be Chinese propaganda outlet"
Indian police have conducted raids on NewsClick, an independent news website accused of spreading Chinese propaganda. The raids, which occurred amidst rising tensions between India and China, targeted the homes of over 40 journalists and staff members. Phones, laptops, and other electronic devices were seized during the operation. Media advocacy groups criticized the raids as an infringement on freedom of speech, while Indian officials defended the action, stating that they were investigating alleged links between NewsClick and China. The deteriorating press freedom climate in India is highlighted by these raids, with India's ranking on the World Press Freedom Index having declined under Prime Minister Narendra Modi's leadership since 2014. The government has also taken a tough stance against Chinese companies and apps, banning numerous Chinese apps and implementing stricter investment regulations.
Episode 4
1. "WTO cuts world trade forecast as manufacturing slowdown bites"
The World Trade Organization (WTO) has lowered its forecast for global trade growth in 2023 to 0.8% due to factors like inflation, borrowing costs, and a slowdown in manufacturing. The war in Ukraine and geopolitical tensions are also fragmenting trade patterns. This slowdown is expected to negatively impact living standards worldwide. The WTO is urging its members to avoid protectionism and keep trade flows open. However, trade growth is predicted to improve in 2024, especially in Asia and North America. Europe is expected to experience more modest growth.
Source: https://www.ft.com/content/1b343885-2...
2. "Lessons for China from Japan’s lost decade"
China's economic slowdown is compared to Japan's "lost decade," suggesting the end of a growth model that has driven China's economy. The article proposes five steps to revive growth, including debt restructuring and economic stimulus. Political will and caution towards risky policies are also emphasized. The author contends that China needs leaders like Heizo Takenaka, Koizumi, and Abe to coordinate a sustained stimulus policy.
Source: https://www.ft.com/content/b7c7cede-3...
3. "Interest rate surge drives US car loan payments to record high"
Rising interest rates in the US auto loan market have led to record-high car loan payments, with more borrowers facing payments of at least $1,000 per month. The average interest rate on car loans is the highest since 2007, resulting in an average monthly payment of $736. As a result, consumers are opting for cheaper car models. However, new car sales remain strong due to pent-up demand from supply shortages caused by the pandemic. Affordability and ongoing United Auto Workers strikes are key concerns for the industry, but incentives from carmakers are being offered to counteract reduced demand.