China’s Third Plenum Shines Light on Center-Local Fiscal Challenges – The Diplomat

The value of California chip designer Nvidia plummeted by billions following new trade restrictions imposed by Donald Trump, causing significant turmoil in the semiconductor sector. As a result, US stock markets saw a sharp decline, with the S&P 500 index dropping approximately 1.3%, the tech-heavy Nasdaq index falling 2.1%, and the Dow Jones decreasing by 0.6% in early trading. This sell-off rattled investors and highlighted the vulnerability of the technology sector to regulatory changes. Full...

Xiaofeng Wang, a cybersecurity professor at Indiana University, was fired on the same day that FBI and Department of Homeland Security agents raided his homes, prompting concerns among Asian students about potential political motivations. Previously, Wang had been questioned by the university regarding undisclosed funding from China for a project that also received US federal research grants. His dismissal via email contradicted the university's own policies, leading to widespread shock in the Bloomington community. Full...

Read a summary of this article on FAST.SINGAPORE: A new task force addressing the impact of US tariffs includes five Cabinet ministers and representatives from business and labor, chaired by Deputy Prime Minister Gan Kim Yong. The task force will assess immediate challenges, communicate with affected businesses, and develop long-term strategies to maintain Singapore's economic stability and attractiveness to investors. Concerns about potential economic recession have led to downgraded growth forecasts and eased monetary policies...

President Trump asserted that prices for goods, including gasoline and groceries, are decreasing as the U.S. imposes record tariffs, while also signing executive orders addressing various issues such as social security fraud. He threatened Harvard with the loss of its tax-exempt status over alleged antisemitism and cut $2.3 billion in federal grants after the university resisted his demands. Meanwhile, a federal judge ruled against Trump's attempt to bar collaboration with a law firm involved in...

The Chancellor announced that although wages are growing faster than prices, many families are still grappling with the cost of living. UK inflation has decreased to 2.6%, prompting the Bank of England to consider interest rate cuts. Meanwhile, Trade Secretary Jonathan Reynolds is set to visit Beijing to reignite trade discussions, the UK Supreme Court will determine the legal definition of a woman in a case against the Scottish government, and pollution incidents from water...

China Daily, the English-language outlet of the ruling Communist Party, criticized the US for "whining" about its situation, asserting that it has been "living beyond its means for decades" and has taken advantage of globalization. Amid an ongoing trade war, recent tariff increases between the two largest economies have paused, but tensions remain high with no resolution in sight. The comments reflect China's stance on the trade conflict as both nations continue to navigate their...