SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " economy " 1,460 found 🔀 AI-powered Shuffle
How did Trump get so rich?
Jonathan Freedland speaks to Dan Alexander of Forbes about how Donald Trump made so much money last year at the same time trade wars, military wars and a rising national debt hurt the US economy
Prediction markets take a swing at hedging for US small businesses
By Suzanne McGee Aug 28 (Reuters) - Mark Murrell, founder of Get Maine Lobster of Portland, Maine, has an irritating business problem that he has been struggling to solve: offering discounts is costly and, well, "it feels so boring." For International ...
Italy business and consumer confidence rise in August
ROME, Aug 28 (Reuters) - Italian business and consumer confidence rose in August, data showed on Friday, in a positive sign for the prospects of the euro zone's third largest economy. • National statistics institute ISTAT's consumer confidence index ...
VIRTUE, V47 Entertainment and COL Group Launch World's First Microdrama Upfront
Little Black Book, 'Inside Microdramas', dedicated to the rapidly-expanding vertical entertainment economy, will be held in Singapore on October 27th
U.K. Business Confidence Jumps Despite Lingering Energy Shock
Oil and gas prices remained elevated amid uncertainty over the Middle East conflict, but firms appear increasingly confident that strong consumer demand and a resilient economy can offset the pressure.
UK business confidence hits highest since March, Lloyds says
British businesses turned the most confident since March this month, bolstered by a rosier view of the economy, according to a survey that echoes other signs of an improving outlook.
UK business confidence hits highest since March, Lloyds says
LONDON, Aug 28 (Reuters) - British businesses turned the most confident since March this month, bolstered by a rosier view of the economy, according to a survey that echoes other signs of an improving
All eyes on Warsh in Wyoming
Welcome to The Hill’s Business & Economy newsletter{beacon} Business & Economy Business & Economy The Big Story All eyes on Warsh in Wyoming Federal Reserve Chair…
Data center controversies have transformed midterms. Here's where different groups stand
Snowballing opposition to data centers in communities across the U.S. has transformed the midterm election landscape, thrown a wrench into the plans of the world’s richest companies and brought President Donald Trump to its defense.
Mamdani reaches out to CEOs to boost city economy; what it means
Some of the biggest names include Chobani CEO Hamdi Ulukaya, New York Liberty CEO Keia Clarke, Etsy CEO Kruti Patel Goyal and Pat Wang, CEO of Healthfirst.
Dallas-Fort Worth ranks among top 3 US markets for business bankruptcies
DFW's economy keeps growing, but so do business bankruptcies. New data shows the region recorded 1,223 filings over the past year, up 10% and ranking No. 3 among U.S. metros. Executives and experts explain what's driving the trend. Read on to find out more.
Gamson-led venture capital firm raises $200M fund
It adds to the small but growing roster of venture capital firms in Chicago, an indicator of the health of a startup economy.
Women’s Equality Day highlights Portland’s women-owned businesses
Women’s Equality Day on Aug. 26 spotlights the 19th Amendment and women-owned businesses powering Oregon’s economy. Women own 39% of employer firms, from Portland staples to newer community hubs like The Sports Bra.
Mamdani Persuades C.E.O.s to Join His Business Advisory Council
Mayor Zohran Mamdani, a democratic socialist who has struggled to win over Wall Street, intends to use the council to help him invigorate New York City’s economy.
MFU Foundation report finds that small businesses are squeezed by anticompetitive conduct
PAUL, Minn. - Growing monopoly power and anticompetitive conduct across the economy are key reasons rural Minn...
Trump needs to get tough on China to get tough on Iran’s economy. He’s been reluctant to do that
The Trump administration appears to have landed on a fallback strategy in the Iran war after military strikes and negotiations failed to deliver victory: threats of very harsh economic sanctions.
What Super El Niño Means For Business Supply Chains And The Economy
A strong El Niño event is forecasted for 2026. It could cause trillions in economic damage, significantly impacting global supply chains. How can businesses prepare?
Sam Altman: the economy is adapting to AI slower than expected
OpenAI's CEO said he was too bullish on AI's economic takeover in 2023. Slower adoption is a "positive in many ways," he added.
Trump reminds voters that trade wars are also affecting prices
The threat of higher prices for gas, cars, hockey sticks and more gave fresh life to Democratic arguments that the president is destabilizing the economy.
China's apps inviting West closer into its insular internet economy
WeChat Pay is integrating PayPal, and Bilibili launched an international app, signaling that China is opening up its insular internet economy.
US aims for ‘economic asphyxiation’ of Iranian regime with new wave of secondary sanctions
Treasury Secretary Scott Bessent launches Operation Economic Outcast, targeting Iran's economy with secondary sanctions to cut off global trade revenue.
Nevada is one of the worst places to live in the country, study finds
A WalletHub study that looked at multiple factors ranked Nevada 45th out of all the states, largely due to low scores in four main areas: affordability, economy, education and healthcare and safety...
Why one of Trump’s favorite economic statistics is nearly meaningless
President Donald Trump says not to believe the many polls finding that most Americans disapprove of his handling of the economy. On Friday, to argue that his numbers should be much better, he cited a nearly meaningless fact he portrayed as a major accomplishment.
Pence says U.S.-Canada trade fight adds to affordability concerns for economy
“I think the last thing we need right now, as our economy is getting back on its feet, is a trade war with Canada,” the former vice president told CNN.
Building the beat: How New Orleans can grow the business behind the music
People dance to the music of the TBC Brass Band Photo by Michael DeMocker / The Times-Picayune This week New Orleans hosts the annual Cutting Edge CE Conference, which brings together members of the music industry, musicians, lawyers and others to learn about and discuss the latest changes in the business of making, producing and selling music. googletag.cmd.push(function() { googletag.display('ad-1492300'); }); The conference comes as AI and streaming are causing upheavals in the industry. Meanwhile, we’ve seen at least a partial collapse of the global festival industrial complex which has long been a key financial lifeline for many artists.All of that can feel a bit removed from life in New Orleans. After all, we are a city filled with music. On any given day or night, there are dozens of shows across the city, ranging from jazz and blues to hip-hop, bounce and house. Whereas in other cities kids dream of being the star of their local sports team, in New Orleans more often than not they dream of leading their own band.And music is a huge part of our economy. Before New Orleans was known as a foodie destination, it was already drawing millions of visitors from around the globe to experience our jazz, soul and funk scenes firsthand.But the reality is, if you want to make it big, you’re probably going to end up leaving the city. We’ve seen major performers like Lil Wayne, Master P and Jon Batiste (though he’s back on the Northshore) decamp to Los Angeles, Miami and New York. Likewise, up-and-coming musicians like Greer Grimsely, $leazy EZ and Lucky Daye have also left town in search of more profitable pastures.Meanwhile, our local universities train some of the best producers and engineers in the business — only to see them head to one of the big music industry cities after graduation.It’s not a new phenomenon, though the reasons have changed over the years. Like a lot of early jazz musicians, Louis Armstrong famously left New Orleans, first for Chicago before ultimately settling in New York City. But while those early migrations had more to do with racism, in today’s day and age, musicians end up leaving because New Orleans doesn’t have the industry infrastructure necessary to sustain the kind of growth and, well, success, a lot of folks dream of.It’s a hard, but very real, truth. Artists have to go to Nashville for publishing, Los Angeles for production, Atlanta to join a label or New York for representation. That, in turn, is a drain not only on the city’s talent pool but on money that could be staying here at home.Not being an industry town inevitably makes it that much harder for musicians who don’t leave to get the recognition and success they deserve. It also undoubtedly plays a part in keeping the wages working musicians in New Orleans make at their gigs here lower than in places like Austin or Nashville.That’s not to say we don’t have any of the infrastructure needed to make New Orleans a music industry town. We’ve got live music venues, studios, record labels, management companies, copyright attorneys ... all the various building blocks are there. We just haven’t ever built upon that solid foundation. googletag.cmd.push(function() { googletag.display('ad-1492297'); }); The question is how do we do that in a way that supports our existing industry and artists, respects our cultural traditions and ensures the wealth generated is equitably distributed so it isn’t just C-suite executives who end up reaping the benefits. And the time to start figuring out the answers is now: next year the legislature will focus on taxes and spending, making it vital that New Orleans leaders have a plan to try and secure funding to help grow our industry.So we asked a group of New Orleanians to give us their thoughts, ranging from industry attorneys and venue operators to working musicians and cultural advocates. Their answers point toward turning New Orleans into a music industry city without leaving musicians behind or abandoning what makes us the greatest music city on earth.If a dusty city like Austin can transform itself into a major hub not just for music but the industry behind it, surely the birthplace of jazz — and pretty much all modern music by extension — can figure it out as well. +3 Mailbox Money: The Recording Academy’s Reid Wick on supporting, and growing, New Orleans’ music industry Reid Wick has been a part of the New Orleans music landscape from virtually every angle. He'… California Dreaming: Pell discusses his time in L.A. and how New Orleans can help young musicians In 2015, New Orleans-born rapper Pell decided to make the move to Los Angeles. He was fresh … +2 Up from the street: To build a stronger music industry, support community first. At MaCCNO, most of our team aren’t just advocates, we’re also working musicians. Here are a … +2 Live and direct: Public investment in independent venues is key to a robust music economy. I’ve spent most of my adult life looking at the New Orleans music business from every side o… +2 Helping Hand: New Orleans doesn’t need more talent. It needs more infrastructure. People love to call New Orleans a music town. And they’re right. +2 \We out here: New Orleans doesn't need to be Austin. It's already a music industry city. +2 Futureshock: New Olreans has the music talent. Now it needs the innovation. New Orleans has long been known as a place for music creation and innovation. People travel … .donate-gambit-article-module-container { text-align: center; padding: 10px; /* background-color: #24da6d; */ background-color: rgb(153, 0, 0); margin-bottom: 20px; } .donate-gambit-article-module-title { font-weight: bold; color: #fff; } .donate-gambit-article-module-copy { color: #fff !important; font-size: 16px; } .donate-gambit-article-module-button { background-color: black; width: 50%; border-color: black; font-size: 16px; } .donate-gambit-article-module-button:hover { background-color: black; } @media only screen and (max-width: 600px) { .donate-gambit-article-module-button { font-size: 14px; width: 100%; } .donate-gambit-article-module-copy { font-size: 14px; } } BECOME A GAMBIT MEMBER AND JOIN OUR KREWE TODAY For more than 40 years, Gambit has covered New Orleans, for New Orleans. We’ve stood up to city hall with you, cheered the Saints with you, danced in the streets with you and cried over our collective loss with you. And we’re plannin’ on being here for 40 more. To do that, we need your help. Become a Gambit member today and help us continue our mission SUPPORT GAMBIT
U.S. Economy Could Feel the Sting From Trade War With Canada
A tit-for-tat trade fight between the two allies could create new headaches for consumers and businesses already stung by high prices.
Business leaders speak on barriers and opportunities for growth in an uncertain future
Black-owned businesses continue to make significant contributions to the U.S. economy, but business leaders say entrepreneurs are facing new economic pressures ...
Byron Donalds details affordability plans, defends Trump economy in interview
He said he would also revisit property tax cuts if Florida voters reject Amendment 3 in November.
Iran’s Top Politicians Urge an End to the War
The country’s president and its parliamentary speaker say Tehran needs to negotiate an exit and shore up its economy while it has leverage.
Business
News and features about the companies, people and trends shaping the economy around Boston and New England, from the Fortune 500 to small family businesses.
Trump attacks Democrats as ‘communists’ — while acquiring government stakes in private companies
Trump’s actions have drawn criticism even from Republicans, who caution that their party shouldn’t abandon long-held beliefs about the government’s role in a free- market economy.
Employer healthcare expenses could spike 9.5% in 2027, pressured by GLP-1s
The benefits management company Aon said per-employee expenditures may rise about $19,000. While the broader economy is to blame, part of the rise can be attributed to the management of costly chronic conditions such as diabetes.
Retail sales fall despite World Cup and hot weather boosting alcohol and drinks trade
Rolling coverage of the latest events in global financial markets, the economy and major corporate moves
Focus groups: Deep anxiety about the economy drives undecided voters in two key Senate races
Undecided voters in the Iowa and Georgia Senate races, many of whom voted for Trump, say they’re concerned about high costs.
Protecting the eye health of an ageing global population
Unmanaged vision loss costs the global economy over $411 billion annually in lost productivity. Governments and businesses should help protect eye health.
Walmart slows down: what the retail giant’s earnings say about consumer spending
Walmart Inc.’s quarterly sales fell short of expectations, a rare miss that’s likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy.
Treasury's surprise bond-market move could hit your wallet. Here's how.
Surging Treasury yields can ripple through mortgage rates, stocks, corporate borrowing, and the broader US economy.
The global health aid architecture is collapsing. The faith economy isn't
“Washington has rediscovered faith as a delivery mechanism. The bigger opportunity is faith as a source of capital,” writes Dr. Alaa Murabit.
Rising UK consumer confidence gives Andy Burnham ‘golden opportunity,’ survey says
BRC says confidence in economy hits highest level since the lows reached at start of Iran war
Better together: ASCEnT program prepares supply chain and engineering students for business world where they’ll need each other
The concentration helps students become systems thinkers with interdisciplinary skills to lead and solve complex challenges in the tech-driven global economy. Applications open this fall.
The bond market is sounding an alarm. Here’s what it means.
Long-term Treasury yields rose to their highest point since 2007, creating another headwind for the economy and lifting borrowing costs for consumers and businesses.
Washington climbs in CNBC’s Top States for Business ranking, but concerns about costs remain
The improvement reflects strengths in the state’s economy, workforce and quality of life, but the report also points to areas where Washington is losing ground.
Hemp builds houses, economy and opportunity in one Minnesota tribal community
Hoping to diversify its economy beyond gambling, the Lower Sioux Indian Community has put its chips on hempcrete, a sustainable housing insulation. The operation is part of a quiet, national surge in Native-owned startups. But steep challenges remain.
Brown: There’s a Gen X-sized hole in our economy, politics and culture
"We followed a Baby Boom generation that was much larger, and therefore intractable from leadership roles. We even had the most lead exposure of any recent generation, which can’t be good," columnist Aaron Brown writes.
South African Business Confidence Edges Higher Amid War Headwind
South African business confidence improved sightly in July, though the economy continues to be affected by inflationary pressures stemming from the Iran war, the country’s main commerce chamber cautioned.
Poll: Trump Approval Falls to 33%, Lowest of His Presidency
About 38% of registered voters said Democrats would handle the economy better, compared with 35% who preferred Republicans.
US recession coming in 2027, stock market drop ahead: Leon Cooperman
Billionaire investor Leon Cooperman said many investors were likely shrugging off the threat of hotter inflation on the US economy and stock prices.
Michigan’s health care boom is reshaping its economy — and its skyline
For seven decades, the massive, neoclassical General Motors Building served as the headquarters of what at one time was the world’s largest industrial corporation.
Ukraine takes aim at Russia’s economy and morale by attacking online retailer
Day after day over recent weeks, Ukrainian drones have pummeled giant depots belonging to Wildberries, the country’s biggest online retailer, burning estimated billions of dollars’ worth of merchandise and bringing the war home to the broad public.
San Diego culinary entrepreneurs get support to survive the faltering U.S. economy
Training, funding and a monthly marketplace are giving San Diego new culinary entrepreneurs opportunities to grow their small businesses.
US is becoming an ‘entrepreneur’s paradise,’ small business expert says
The Marks Group PC CPA Gene Marks discusses small businesses’ impact on the U.S. economy, hiring trends and growing optimism among entrepreneurs on ‘Fox News Live.’
The post-Hormuz era offers Africa a great opportunity
But to capture its benefits, the continent needs to develop an effective, common maritime policy.
The Legal Paths to Hoarding Political and Economic Power
At the same time that the Supreme Court is making the political landscape less competitive, a series of corporate law developments are concentrating power within the commanding heights of the data economy.
Castro-style capitalism: Havana promises economic changes without relinquishing political control
Economists and business leaders argue that Cuba cannot build a new economy without institutional reform, something the island’s government appears unwilling to negotiate
Davies: Board must go
>Continued from front board fit for purpose. The economy and the game in Wales is suffering. It is time now for people to voice their opinions, ex-players, regions, and the clubs and the fans most importantly and say change is needed. “It is up to us to force the changes otherwise this is not going […] The post Davies: Board must go appeared first on The Rugby Paper.
Rob Sand Talks with Small Business Owners on New Plan to Grow Iowa’s Economy and Support Small Businesses
Rob Sand for Iowa Governor. Rob is only beholden to the people of Iowa, and Rob stands up for what's right, even when it's hard.
Record-breaking heat takes mounting toll on the U.S. economy
Oklahoma slips to No. 39 in CNBC’s Top States for Business rankings
Oklahoma ranked 39th in CNBC's top states for business, dropping two spots with strong business costs but weak workforce and economy scores.
How local vendors are finding success at Providence Place
While mall vacancies have piled up, local vendors at Providence Place have pioneered a creative way to fill space and boost the local economy.
UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather
Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in May
Mamdani promotes budget; spending critiqued by Financial Control Board
The board is made up of the mayor himself, Gov. Kathy Hochul, the city and state comptrollers, and other appointees.
Consumer Debt Data Shows ‘Overall’ Health Amid Persisting Divides
Homeowners with low fixed-rate mortgages lead a resilient picture of the economy. But many consumers are frustrated with declining real wages and other loans.
Study finds lasting mental health impacts on Lexington’s laid-off Tyson Foods workers
The closure of the Tyson Foods meatpacking plant in Lexington had wide-ranging effects on the city itself and the state's economy. But a team of researchers at UNMC focused on the lasting impacts on the laid-off workers.
Under 500 Employees, Over $500 billion: Small Business Payroll Taxes
Small businesses, those with fewer than 500 employees, are a pillar in the U.S. economy and account for a large share of federal payroll tax revenues. These taxes are paid by both the employer and employee and are primarily used to fund the Social Se
US small-business sentiment rises to 11-month high in July, labor shortages a worry
WASHINGTON, Aug 11 (Reuters) - U.S. small-business sentiment increased to an 11-month high in July amid a surge in the share of owners reporting plans to boost hiring, suggesting that last month's slump in nonfarm payrolls was probably temporary. The ...
How The House Of Beautiful Business Is Building An Economy For The Post-AI World
The House of Beautiful Business built a 30,000-person community betting connection, not efficiency, is the real edge as AI reshapes work and business.
Trump has a Carter-style Iran problem as the economy drags before the midterms
Donald Trump is staring down two stark liabilities that threaten to damage his Republican Party in the midterms and ruin his second term-legacy.
Japan's executives call for FX stability as weak yen intensify import-cost pressure
Japanese executives are increasingly warning that currency swings and a persistently weak yen pose risks to the economy, highlighting concerns that triggered last week's joint Japan-U.S. intervention to support the currency.
Cost of Living Worries Give Democrats Lead Over GOP on Economy
Persistent cost-of-living worries are eroding a crucial GOP asset, giving Democrats an edge ahead of the midterms.
Morning Mail: inside the political ‘meme factories’; China questions detainee’s death; Netanyahu rejects Trump’s Gaza plan
‘Buzzer’ economy drumming up outrage online; China’s ‘grave concern’ over death in detention; Trump’s Gaza peace plan in doubt
Group urges Democrats to woo moderate voters with populist policies
A progressive group says messages that target the wealthy and large corporations appeal to a majority of Americans who see the economy as fundamentally rigged.
Trump has squandered Republicans’ typical advantages in 2 key areas
President Donald Trump’s political stature is so poor right now that he has squandered the Republican Party’s typical advantage on both the economy and national security.
American Airlines Just Made It Harder for Elite Flyers to Get Free Business-Class Upgrades
Starting August 25, AAdvantage members flying economy are losing a valuable perk on popular Hawaii and coast-to-coast routes: a chance to score a complimentary lie-flat seat.
American Airlines ends free business upgrades on select Hawaii routes
American Airlines is ending free economy-to-business-class upgrades for its most loyal customers on select long-haul domestic routes where the carrier offers three classes of service.
‘It’s been chaotic’: Trump’s immigration crackdown prompts worries from industry groups
Industry groups ranging from construction to agriculture are raising concerns with the Trump administration over its ongoing immigration crackdown, arguing it is undercutting President Donald Trump’s agenda and weakening the economy, according to multiple groups who spoke with CNN and sources close to the White House.
The Business of Immigration: Ethics, Economics, and the Future of Our Region
About this Program: Immigration has long shaped the identity, economy, and culture of the San Diego–Baja California region. Today, it remains one of the most significant—and often most debated—public policy issues facing our communities. As employers grapple with workforce shortages, governments respond to evolving immigration policies, and families pursue opportunity and security, important questions arise about the economic, ethical, and practical implications of immigration for our region's future. As part of the Engage San Diego: Tough Topics, Real Discussion series, moderator Andrew Blum will lead a thoughtful conversation with community leaders to examine these issues from multiple perspectives. Together, the panel will explore how immigration and immigration policy influence regional economic growth, workforce development, cross-border commerce, public services, and community well-being. The discussion will consider both the opportunities and the challenges immigration presents for employers, policymakers, and the broader San Diego economy, while also examining the ethical considerations that inform business and public policy decisions. Rather than advocating for a single viewpoint, this program is designed to foster informed, respectful dialogue and deepen public understanding of one of the defining issues of our time. Through a balanced exchange of ideas, panelists will explore practical approaches to strengthening our region while recognizing the diverse perspectives that shape this complex conversation. Join us for an engaging discussion that reflects the spirit of the Engage San Diego series—bringing together diverse voices to tackle difficult topics through civil discourse, informed analysis, and constructive community engagement. What We’ll Explore Immigration and the Regional Economy How does immigration influence San Diego's workforce, economic growth, business competitiveness, and cross-border prosperity? Ethics, Policy, and Public Responsibility How can communities balance economic needs, humanitarian values, public safety, and the rule of law in shaping immigration policy? The Business and Government Perspective What roles do employers, local government, and community leaders play in addressing workforce challenges and creating opportunities for shared prosperity? The Future of Our Region As immigration policy continues to evolve, what practical solutions can help strengthen our economy, support our communities, and ensure the long-term success of the San Diego–Baja California region?
Why stocks are rising after a dismal July jobs report
A weaker job market means the Fed might not have to rush to hike rates, but it also paints a poor picture of the broader economy.
U.S. Lost 23,000 Jobs In July, But Entertainment Industry Saw An Uptick
The U.S. economy lost 23,000 in July, while the unemployment rate fell slightly to 4.1%. The figures showed declines in local government education and retail trade, according to the figures from the Bureau of Labor Statistics. The job loss was unexpected, with analysts estimating a gain of as much as 100,000. Jobs in movies and …
U.S. Lost 23,000 Jobs In July, But Entertainment Industry Saw An Uptick
The U.S. economy lost 23,000 in July, while the unemployment rate fell slightly to 4.1%. The figures showed declines in local government education and retail trade, according to the figures from the Bureau of Labor Statistics. The job loss was unexpected, with analysts estimating a gain of as much as 100,000. Jobs in movies and […]
US economy unexpectedly shed jobs in July
The Labor Department released the July 2026 jobs report, which showed the U.S. economy shed jobs unexpectedly last month amid uncertainty over inflation.
Companies scoff at airlines' cheapest business class tickets. 'The real value is flexibility'
Some companies plan to shun the cheapest business- and premium- economy fares from their executives.
Trump unbound: the making of an imperial presidency
Donald Trump’s second term is unlike his first. The politicians who challenged him are gone. The lawyers who once pushed back now choose their battles. What remains is an imperial president with almost no internal checks - using executive power to reshape everything from the economy to immigration and even the presidency itself.
China’s exports slow slightly in July despite robust demand for high-tech products
China has reported its exports slowed slightly in July from the month before despite strong growth in demand for high-tech electronics and vehicles.
American Airlines will stop upgrading elite flyers to business from coach on long domestic flights
American Airlines will no longer give elite frequent flyers free upgrades from economy class to business on some of its longest domestic routes
Federal Reserve’s Lisa Cook tells Anchorage business crowd she’s ‘firmly committed’ to bringing down inflation
High inflation for five years has contributed to negative views of the economy, even as it’s largely stable, Lisa Cook said.
Exclusive | Trump Has Called Warsh Repeatedly Since He Became Fed Chair
The president has sought Kevin Warsh’s counsel on issues such as how the war in Iran is affecting the economy.
Six Businesses You Can Start From Home For Under $500
The side hustle and gig economy are booming, with lots of options for entrepreneurs, from dog walking to renting baby cribs.
Lima, Boston, Athens and Dubai. Grad goes global for business training
Global business education prepared this Northeastern University graduate for a career spanning Peru, Greece, and Dubai's booming economy.
Texas Shows Strengths and Gaps in Multi-Metric Business Rankings
We are accustomed to Texas topping virtually every ranking relating to the economy—most major corporate locations and expansions, top CEO perceptions, highest investment, and many others.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
Minneapolis Independent Music Venues Generate $2.2 Billion but Face Financial Challenges
A new report reveals a disconnect between the industry's economic impact and profitability, finding that locally owned venues are essential to the city's economy, even though only 20 percent report turning a profit.
Local leaders talk business, arts, economy in WYSO City Mayor Series
Local mayors talk business, arts and culture, and other hometown issues in WYSO's City Mayor Series. Host Jerry Kenney talks with Digital Editor Kaitlin Schroeder about the series.
Business News, Personal Finance and Money News
Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News
Politics & Power: Scandals, splits, uncertain road to November mean midterms are still in flux
Scandals, ideological schisms, and foreign‑policy crises have blurred the midterm map. Candidate quality, outside spending, and voter perceptions of the economy — plus President Donald Trump’s outsized role — will determine control of Congress.
Debt Digest | Federal Debt is a Health Care Problem
Welcome David Ditch to the Debt Dispatch! We are pleased to announce a new regular contributor: David Ditch will be joining the Cato Institute as a Policy Analyst for Budget and Entitlement Policy later this week. David has more than a decade of experience in fiscal policy issues, with a particular focus on federal spending. He previously worked at the Senate Budget Committee, the Heritage Foundation, and the Economic Policy Innovation Center. David’s areas of expertise include appropriations, transportation, agriculture, federalism, grantmaking, and policy options for deficit reduction. Originally from the Rochester, N.Y. area, David has a BA in Economics and Political Science from the University of Rochester and a MA in Political Management from George Washington University. David currently lives in Arlington, VA. You may have enjoyed his earlier guest posts: CBO: New Highway Bill Has More Spending, Taxes, and Deficits Trump Administration’s Proposed Changes to Federal Grants Highlight Problems of Big Government Here are this week’s reading links and fiscal facts: The federal debt is largely a health care problem. In a new report, the Congressional Budget Office and Joint Committee on Taxation find that “In 2026, federal subsidies for health insurance, net of related payments to the government, are projected to equal $2.4 trillion, or 7.4 percent of gross domestic product (GDP). In CBO and JCT’s projections, those subsidies grow by 65 percent, reaching $3.9 trillion, or 8.4 percent of GDP, in 2036. Subsidies for Medicare contribute most to that overall growth, increasing by $900 billion. Over the entire 2026–2036 period, federal subsidies for health insurance total $33.6 trillion.” Cato’s Michael Cannon emphasizes, “The long-term federal debt problem is a health care problem. […] Only two categories of federal outlays will grow faster than gross domestic product (GDP): health care subsidies and interest payments on the debt. The former is, therefore, the primary driver of the latter.” The bond market fears deficits, not the loss of tariff revenue. Responding to a New York Times essay claiming tariff revenue has grown too important for a future administration to unwind, Cato’s Kyle Handley argues: “Bond investors are not attached to customs duties as a line item revenue source. They care about the government’s overall fiscal position.” He continues, “tariff revenue is a side hustle. And the Trump administration has already promised to dole out the funds through schemes like tariff dividend rebates, farm subsidies, and pay-fors on tax cuts or other spending.” Furthermore, “tariff revenue is simply not large enough to transform the government’s fiscal trajectory.” Take net interest for example: it “reached $970 billion in fiscal year 2025, absorbing 18.5 percent of federal receipts. Customs duties accounted for only 3.7 percent of receipts—and that was before refunds (see Figure 2).” Handley concludes, “The real bond-market concern is a large and growing interest bill, persistent budget deficits, and a political system unwilling to bring spending and revenue into alignment.” Medicare’s spending growth is driven by more volume and utilization. A Congressional Research Service report finds that Medicare spending “grew at an average annual rate of 7.3%” from 1985 through 2025, and the trustees project health care expenditures will keep rising “faster than gross domestic product (GDP) in most future years.” Citing CBO, the report attributes Medicare’s projected 2026–2036 spending growth to “23% from higher enrollment, 31% from inflation, and 47% from the growth of inflation-adjusted spending per beneficiary. In other words**, the largest single driver of Medicare spending growth during the next decade is expected to be higher volume and intensity of health care services.”** Boccia and Thakur explain: “as the economy grows, Medicare spending tends to grow at least as fast—and often faster—because the program automatically pays the bill for more and more healthcare consumption by seniors, even as prices rise.” The Fed has little control over market interest rates. Cato’s Jai Kedia documents that the Fed has held its rate target steady since December, yet “nearly every rate Americans actually borrow at has climbed over the same stretch.” Kedia continues, “The Fed did nothing, and the cost of credit went up anyway. […] Markets spent these months repricing macroeconomic events such as sticky core inflation, a volatile energy market driven by the conflict in the Middle East, and global trade disrupted by tariffs, among others. None of that required a policy change to show up in borrowing costs because markets, not the FOMC, set prices.” He concludes, “Accurately priced borrowing rates will come from credible disinflation and disciplined budgets and from a Fed content to follow the economy rather than pretend it leads it.” Nearly half of US farm income comes from taxpayers. Former Reagan OMB director David Stockman notes that “in the most recently completed full year (FY 2025) farmer incomes in the US totaled $97.8 billion, but fully 42.7% or $41.8 billion of that amount came from taxpayers, not the marketplace. Nor is this some kind of one-year aberration. If we look at the most recent decade as a whole, total farm income posted at nearly $708 billion, but, as indicated, fully $322 billion or 45% of this came compliments of US taxpayers.” Cato’s Chris Edwards explains why so little of that income is market-earned: “Farmers are businesspeople, but the government shields them from just about every type of weather and market risk. Furthermore, just about every part of the agricultural industry is subsidized, including insurance, loans, marketing, research, export sales, and land improvements.” The Debt Dispatch is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Producing Health: Capability, Capacity, and Competitive Discovery in the Health Economy
Health is not the same as healthcare; healthcare is not the same as health insurance. The endpoint is health.
The JENNIE Economy
The pop artist is part of a complicated new ecosystem in which stars and their fans are more intertwined than ever. But where does that leave the person at the center of all that fame?
Analysis | Is the midterm cake baked?
The vibes around the economy are bad — polls and focus groups show voters feel like they are getting screwed at the gas pump and at the grocery store, jobs feel harder to come by, and the rise of technology like artificial intelligence is injecting considerable uncertainty into the future.