China’s economic growth exceeds expectations
China’s National Bureau of Statistics said yesterday that despite a severe real estate crisis and sluggish domestic consumption, the economy grew 1.6% in the first quarter compared with the previous three months.When forecast for the full year, first-quarter figures suggest economic growth of The annual growth rate is approximately 6.6%. China has set a growth target of around 5% this year, which many economists consider ambitious.
The economy is getting a boost from a familiar tactic: massive investment in manufacturing, including the construction of scores of new factories that help drive sales of solar panels, electric cars and other products around the world.
My colleague Keith Bradsher told us: “China may have found a way to mitigate the impact of the housing market crisis, but only if Beijing can convince other countries to buy more manufactured goods from China than before ”
Foreign countries and companies worry that large shipments of Chinese products to distant markets could hurt their own manufacturing and lead to layoffs.
Keith said the Chinese government is encouraging households to increase consumption, but households are “not enthusiastic” about consuming the surge in manufactured goods. Many Chinese households have borrowed heavily to invest in apartments and have responded to falling house prices by cutting back on spending.
On this week’s trip to China, Chancellor Olaf Scholz promotes German business interests while raising concerns Beijing exports surge to Europe and support for Russia.
US is planning new sanctions on Iran
The United States plans to impose new sanctions on Iran in the coming days to punish it for its weekend attack on Israel, Treasury Secretary Janet Yellen said yesterday. While she did not elaborate on what form that would take, she said the Biden administration was considering ways to further restrict Iran’s oil exports, a major source of revenue for its government.
The United States is also looking for ways to cut off Iran’s oil supplies Access Military ComponentsIt uses it to build weapons, such as drones deployed against Israel, according to Treasury officials.
background: The United States has imposed broad sanctions on Iran for years as part of a broader effort to put pressure on its economy and prevent it from acquiring nuclear weapons.
Trump’s jury is being filled
Six jurors were selected yesterday for the case against Donald Trump in New York, the first criminal trial of a former US president.The selection process is expected to take two weeks or more, but Jurors were selected soon after the lunch break. Both sides must agree on 12 jurors who will decide the case.
The process got off to a rocky start on Monday, with dozens of jurors dismissed following preliminary inquiries, a rate my colleague Alan Feuer called “extremely rare.” The dispute highlights a key challenge: Jury selection in cities where defendants are unpopular is difficult.
Can you be an impartial juror? look Questionnaire Trump’s hush money trial.
More headlines
Feral cats take a heavy toll on wildlife.but they are Especially the threat to AustraliaIt has no native cats and is home to slow-breeding, snack-size mammals. solution? Smarter traps, sharpshooters and the “Felixer,” a machine that sprays toxic gel at passing cats.
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How two pop divas avoid chart clashes
As the preeminent pop stars of the 21st century, Beyonce and Taylor Swift are often viewed as rivals, even rivals.The first time they were linked in this way was in 2009, when Kanye West interrupted Swift supports Beyoncé during her acceptance speech at the MTV Video Music Awards. An army of superfans has perpetuated the rivalry ever since.
In fact, they’ve always supported each other and generally avoided each other when it came to album releases. When Taylor Swift announced that her new album, The Tortured Poets Department, would be released on April 19, Beyoncé said a week later that Cowboy Carter would be released on March 29.This is not the first time They avoid conflicts on the chart.
