Analysts skeptical about African impact of China’s zero-tariff offer
NEW DELHI — Analysts interviewed by VOA expressed skepticism over China’s recent decision to eliminate tariffs for goods from least developed countries with diplomatic relations with Bejing, including 33 in Africa, next month. The move was announced by Chinese President…
Bain: Global luxury sales to fall 2% in 2024, among weakest years on record
Sales of personal luxury goods are set to fall 2% this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry’s customer base, according to consultancy Bain & Company. In its closely-watched…
As data center industry booms, English village becomes battleground
ABBOTS LANGLEY, England — Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history. Now, its residents are fighting…
Germany’s Scholz summons top ministers over rival plans to fix economy
Berlin — German Chancellor Olaf Scholz will hold meetings with his top two ministers to try to find common ground after they put forward contradictory plans to fix the nation’s ailing economy, a government source told Reuters on Sunday. A…
US employers add 12,000 jobs last month as hurricanes, strikes reduce payrolls
WASHINGTON — America’s employers added 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the…
Chinese online retailer Temu faces EU probe into rogue traders, illegal goods
LONDON — The European Union is investigating Chinese online retailer Temu over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said on Thursday. The European Commission opened its investigation five months after adding…
China tells carmakers to pause investment in EU countries backing EV tariffs, sources say
China has told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles, two people briefed about the matter said, a move likely to further divide Europe. The new European Union tariffs of…
Low consumer spending in China hinders economy there and abroad
U.S. Treasury Secretary Janet Yellen has joined several independent economists to express her frustration about low consumer spending and the property crisis in China. Some experts have expressed disappointment over Beijing’s limited measures to stimulate consumer spending, which is one…
US economy grew at a solid 2.8% pace last quarter on strength of consumer spending
Washington — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product —…
Beijing files WTO complaint over EU’s new taxes on Chinese EVs
Beijing — Beijing said Wednesday it had lodged a complaint with the World Trade Organization over the European Union’s decision to impose hefty tariffs on Chinese-made electric cars. The extra taxes of up to 35% were announced Tuesday after an…