It is no secret that China’s economy has been stagnating. A deflationary spiral looming as the GDP deflator has declined for five consecutive quarters, and economic growth falling short of expectations—growing at just 4% nominal GDP, below the 5% target—the economy faces significant challenges.
On Oct. 25, Hurricane Otis struck the city of Acapulco on the Pacific coast of Mexico, leaving the country with landslides, flooding, and devastation, becoming the second-strongest storm in Mexico's history.
On Friday October 4, 2024, the European Union (EU) finished voting on the proposed tariffs on Chinese electric vehicles (EVs). While countries like Hungary and Germany vocally disagreed to this proposition, a majority of EU countries had already voted in favor of the tariffs. The tariffs are only the beginning of a potential long-lasting economic cold war between China and the West.
