China recently doubled subsidies for a consumer trade-in program to 300 billion yuan, aimed at boosting consumption without resorting to cash handouts. The subsidies, covering 15% to 20% of select product purchases like smartphones and appliances, are expected to support retail sales and align with China’s 5% GDP growth target and focus on consumption over infrastructure spending. While some doubt the long-term impact of one-time subsidies, further programs are anticipated as Beijing looks to stimulate growth through consumer spending.
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Florida plans migrant detention centre in Everglades
The Department of Homeland Security is establishing a detention center for migrants in the Florida Everglades, funded largely by FEMA, with costs estimated at $450 million annually. Criticism has arisen from local lawmakers, including Miami-Dade's mayor, over potential environmental impacts, while Florida's Attorney General argues the site will deter escapees due to its remote location. Need More Context? 🔎
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