Hundreds of Elderly Protest Chinese Government Cuts to Health Insurance Benefits in Wuhan and Other Places – WSJ

Hundreds of Elderly Protest Chinese Government Cuts to Health Insurance Benefits in Wuhan and Other Places – WSJ

Hundreds of elderly people staged a protest in the central Chinese city of Wuhan on Wednesday, in what appeared to be a sign of widespread discontent over the government’s recent changes to the national health insurance system. Hundreds of elderly people gathered outside Wuhan’s Zhongshan Park, less than a mile from city government offices, surrounded … Read more

China’s Top Nuclear Research Institute Still Using U.S. Chips Despite Blacklisting Decades Ago – WSJ

China’s Top Nuclear Research Institute Still Using U.S. Chips Despite Blacklisting Decades Ago – WSJ

China’s top nuclear weapons research institute has purchased advanced American computer chips at least a dozen times over the past two and a half years, successfully circumventing decades of U.S. export restrictions on such sales. Procurement documents reviewed by The Wall Street Journal show that while the China Academy of Engineering Physics was placed on … Read more

BuzzFeed Stock More than Doubles on News of AI Initiative, Meta Partnership – WSJ

BuzzFeed Stock More than Doubles on News of AI Initiative, Meta Partnership – WSJ

Shares of BuzzFeed Inc. (BZFD ) most recently more than doubled on Thursday after The Wall Street Journal reported that the media company intends to use artificial intelligence to help create content. The Wall Street Journal reported that BuzzFeed CEO Jonah Peretti wrote in an internal memo to employees that the company would use ChatGPT … Read more

Philippine President Says Seeking to Defuse Tensions with China – WSJ

Philippine President Says Seeking to Defuse Tensions with China – WSJ

Philippine President Ferdinand Marcos Jr. said the Philippines is stepping up cooperation with the United States and developing stronger mechanisms to defuse disputes with China. The Philippines is now carefully balancing its relationship with the superpowers of the United States and China. “I learned an African proverb: When elephants fight, the grass loses,” Marcos said … Read more

Bullard wants Fed to raise key rate to 5.25%-5.5% range this year, doesn’t want ‘delay’ – WSJ

Bullard wants Fed to raise key rate to 5.25%-5.5% range this year, doesn’t want ‘delay’ – WSJ

St. Louis Fed President James Bullard said on Wednesday the central bank should not “hold off” on raising its benchmark interest rate until it exceeds 5%. “I like a little bit more up front,” Bullard said in an interview with The Wall Street Journal. The interview was live-streamed. He said the Fed should move as … Read more

China’s Export Drop Widens, Threatens Growth – WSJ

China’s Export Drop Widens, Threatens Growth – WSJ

The export boom that underpinned China’s economy for most of the pandemic has lost momentum. As the global economy struggles, the Chinese government urgently needs to find growth drivers elsewhere. According to data released by the General Administration of Customs of China, China’s exports in December 2022 fell by 9.9% year-on-year, which was an increase … Read more

Economists Still See U.S. in Recession This Year, Even as Inflation Pressures Ease – WSJ

Economists Still See U.S. in Recession This Year, Even as Inflation Pressures Ease – WSJ

Economists still expect rising interest rates to push the U.S. economy into recession in the coming year, despite signs that U.S. inflation has started to recede, according to the latest quarterly survey by The Wall Street Journal. Business and academic economists surveyed by The Wall Street Journal see a 61% chance of a U.S. recession … Read more