President Donald Trump has threatened to overhaul or eliminate FEMA during a visit to hurricane-hit North Carolina, shifting disaster management responsibilities to states. Trump criticized FEMA’s response to Hurricane Helene, spreading misinformation about former President Joe Biden’s handling of the disaster. He also announced conditions for disaster aid to California, including implementing a voter-identification law, as protests against his climate-change policies erupted in North Carolina.
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China's $41 billion plan to boost consumption is just a start as deflationary pressures deepen
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...
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