In El Salvador, Bitcoin Is Nothing More Than Authoritarian Propaganda

The country’s cryptocurrency paradise is a mirage.

#bitcoin-currency, #bukele-nayib, #credit-and-debt, #economic-conditions-and-trends, #el-salvador, #freedom-of-the-press, #human-rights-and-human-rights-violations, #politics-and-government, #poverty

Gas Prices Around the World Threaten Livelihoods and Stability

Around the world, from South Asia and Africa to Europe and Latin America, the cost of filling a car’s tank, getting to work and cooking dinner has spiked.

#birol-fatih, #economic-conditions-and-trends, #international-energy-agency, #international-trade-and-world-market, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain, #united-states-economy

Inflation Is Posing 19 Problems for One Central Bank

After more than a decade of worrying about low inflation, the European Central Bank is trying to tackle the problem of high inflation across the eurozone’s economies.

#banking-and-financial-institutions, #economic-conditions-and-trends, #europe, #european-central-bank, #eurozone, #inflation-economics, #interest-rates, #lagarde-christine, #powell-jerome-h, #prices-fares-fees-and-rates, #sintra-portugal, #stimulus-economic

More Mexicans Are Migrating to the U.S. After a Decade-Long Drop

The death of at least 53 migrants in Texas, more than half of whom were from Mexico, is testing U.S. efforts to enlist Mexico in deterring migration.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #illegal-immigration, #immigration-and-emigration, #labor-and-jobs, #mexican-americans, #mexico, #politics-and-government, #san-antonio-tex, #texas, #united-states, #veracruz-mexico

Tunisia’s President, Kais Saied, Proposes New Constitution

The proposal, which will be put to a national referendum on July 25, would enshrine the significant steps he has taken over the past year to dismantle the North African nation’s young democracy.

#constitutions, #economic-conditions-and-trends, #legislatures-and-parliaments, #middle-east-and-north-africa-unrest-2010, #politics-and-government, #referendums, #saied-kais-1958, #tunisia

Biden Vows to Back Ukraine ‘as Long as It Takes’ Despite Economic Toll

NATO leaders concluded a summit with new commitments to a united front against Russian aggression, but they face the challenge of persuading their own people that it’s worth the cost.

#biden-joseph-r-jr, #defense-and-military-forces, #economic-conditions-and-trends, #international-relations, #north-atlantic-treaty-organization, #politics-and-government, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #ukraine, #united-states, #united-states-international-relations

Missing From Biden’s Europe Trip: An Endgame for War and Cheaper Gas

The G7 and NATO meetings this week underscored the pressure on Western leaders caused by soaring energy costs resulting from Russia’s invasion of Ukraine.

#biden-joseph-r-jr, #economic-conditions-and-trends, #europe, #group-of-seven, #north-atlantic-treaty-organization, #oil-petroleum-and-gasoline, #politics-and-government, #russia, #russian-invasion-of-ukraine-2022, #ukraine, #united-states, #united-states-economy, #united-states-international-relations

Missing From Biden’s Europe Trip: An Endgame for War and Cheaper Gasoline

The G7 and NATO meetings this week underscored the pressure on Western leaders caused by soaring energy costs resulting from Russia’s invasion of Ukraine.

#biden-joseph-r-jr, #economic-conditions-and-trends, #europe, #group-of-seven, #north-atlantic-treaty-organization, #oil-petroleum-and-gasoline, #politics-and-government, #russia, #russian-invasion-of-ukraine-2022, #ukraine, #united-states, #united-states-economy, #united-states-international-relations

‘Everything in Hong Kong Has Changed’: A Road to Reinvention

In the 25 years since the handover to China, life on Queen’s Road, the first thoroughfare built by the British after they seized the territory, has been transformed.

#china, #economic-conditions-and-trends, #elections, #great-britain, #hong-kong, #hong-kong-protests-2019, #politics-and-government, #roads-and-traffic

How Long Will Europe Support Ukraine?

The continent’s leaders increasingly want to understand how the war with Russia might end.

#defense-and-military-forces, #economic-conditions-and-trends, #embargoes-and-sanctions, #europe, #kyiv-ukraine, #politics-and-government, #russian-invasion-of-ukraine-2022, #zelensky-volodymyr

U.S.-Led Alliance Face Frustration Over Russia Sanctions

Vladimir V. Putin is making gains in his war on Ukraine while the United States and its allies struggle with soaring energy prices and inflation.

#biden-joseph-r-jr, #defense-and-military-forces, #economic-conditions-and-trends, #embargoes-and-sanctions, #group-of-seven, #inflation-economics, #international-relations, #oil-petroleum-and-gasoline, #putin-vladimir-v, #ruble-currency, #russian-invasion-of-ukraine-2022, #united-states-economy, #united-states-international-relations

In Russia’s War on Ukraine, China and India Emerge as Financiers

Their purchases of Russian crude are undermining the West’s efforts to isolate the Kremlin and upending the global oil markets.

#china, #economic-conditions-and-trends, #embargoes-and-sanctions, #india, #international-trade-and-world-market, #oil-petroleum-and-gasoline, #politics-and-government, #russia, #russian-invasion-of-ukraine-2022, #united-states-international-relations

Beware the Dangers of Sado-Monetarism

The Fed mustn’t get bullied into excessive harshness.

#economic-conditions-and-trends, #federal-reserve-system, #inflation-economics, #interest-rates, #united-states-economy, #volcker-paul-a

Russia Cuts Gas Flows as Europe Races to Stock Up for Winter

The routine summer practice of filling Europe’s natural gas tanks has become a battle after Russia cut deliveries by more than half.

#economic-conditions-and-trends, #europe, #gazprom, #germany, #natural-gas, #netherlands, #nord-stream-ag, #pipelines, #russian-invasion-of-ukraine-2022

To Pressure Taiwan, China is Now Targeting its Grouper Exports

Taiwan’s lucrative grouper industry is bracing for heavy losses after China’s recent ban on imports of the fish from the island.

#agriculture-and-farming, #china, #economic-conditions-and-trends, #embargoes-and-sanctions, #fishing-commercial, #international-trade-and-world-market, #kaohsiung-taiwan, #politics-and-government, #taiwan

U.K. Hobbled By Largest Railway Strike in Three Decades

Travel was disrupted for tens of millions of people during the country’s biggest walkout in decades as union leaders warned of a summer of labor unrest.

#economic-conditions-and-trends, #great-britain, #johnson-boris, #london-england, #national-union-of-rail-maritime-and-transport-workers-rmt, #organized-labor, #strikes, #transit-systems, #wages-and-salaries

U.K. Train Strike Expected to Cause Transit Chaos

Tens of millions of Britons will find traveling difficult or impossible during the biggest walkout in decades, as union leaders warn of a summer of labor unrest.

#economic-conditions-and-trends, #great-britain, #johnson-boris, #london-england, #national-union-of-rail-maritime-and-transport-workers-rmt, #organized-labor, #strikes, #transit-systems, #wages-and-salaries

China’s Once-Sizzling Property Market Has Started to Cool

New home prices in China have fallen, and would-be buyers are thinking twice. That’s bad news for the overall economy.

#china, #china-vanke-co-ltd, #economic-conditions-and-trends, #politics-and-government, #real-estate-commercial, #real-estate-and-housing-residential

New Brand of Activist Takes Aim at Ukraine War and Climate Crisis, Together

Led by young women from Eastern Europe, they are cornering Europe’s leaders and pressing them for a total energy embargo on Russia — to end the fighting and to save the planet.

#brussels-belgium, #demonstrations-protests-and-riots, #dominika-lasota, #eastern-europe, #economic-conditions-and-trends, #embargoes-and-sanctions, #europe, #european-commission, #european-council, #european-parliament, #european-union, #global-warming, #greenhouse-gas-emissions, #greenpeace, #macron-emmanuel-1977, #metsola-roberta, #michel-charles-1975, #morawiecki-mateusz, #oil-petroleum-and-gasoline, #politics-and-government, #russian-invasion-of-ukraine-2022, #strasbourg-france, #thunberg-greta, #total-sa, #ukraine, #von-der-leyen-ursula, #war-and-armed-conflicts, #wiktoria-jedroszkowiak, #youth

On Inflation and the Food Crisis, the World Can Work Together or Fall Apart

No single country can solve the problem of rising food and fuel costs.

#africa, #biden-joseph-r-jr, #black-sea, #coronavirus-2019-ncov, #economic-conditions-and-trends, #embargoes-and-sanctions, #federal-reserve-system, #food, #food-insecurity, #global-warming, #grain, #guterres-antonio, #inflation-economics, #international-relations, #international-trade-and-world-market, #middle-east, #odessa-ukraine, #politics-and-government, #ports, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #ships-and-shipping, #shortages, #third-world-and-developing-countries, #ukraine, #united-states-economy, #united-states-international-relations, #wheat

A Defiant Putin Says Russia Will Flourish Without the West

In a speech at an economic forum, he called the U.S. a fading power and said sanctions on Russia, not the Ukraine war, are hurting Western economies.

#economic-conditions-and-trends, #european-commission, #johnson-boris, #moldova, #putin-vladimir-v, #russian-invasion-of-ukraine-2022, #st-petersburg-russia, #ukraine

As European Leaders Visit Kyiv, Putin Cuts Their Gas Supply

At a critical moment in the war, Russia is strategically reducing gas flows to drive up prices and hurt European economies already reeling from high inflation.

#economic-conditions-and-trends, #embargoes-and-sanctions, #energy-efficiency, #europe, #germany, #inflation-economics, #natural-gas, #pipelines, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022

Bank of England raises rates for a fifth time, to 1.25 percent.

Inflation is reaching deeper into the British economy, the bank said, as businesses raise prices and workers seek higher pay.

#bank-of-england, #banking-and-financial-institutions, #economic-conditions-and-trends, #great-britain, #inflation-economics, #interest-rates, #wages-and-salaries

Yes, Crypto Is Crashing Again. Blockchain Will Survive.

Don’t be distracted by the shenanigans going on in the casino.

#blockchain-technology, #computers-and-the-internet, #economic-conditions-and-trends, #entrepreneurship, #kwon-do, #regulation-and-deregulation-of-industry, #terraform-labs-pte-ltd, #united-states-economy, #virtual-currency

Heading to Ukraine, the Leaders of France and Germany Face a Tense Reception

Chancellor Olaf Scholz of Germany and President Emmanuel Macron of France have had strained relations with Ukraine’s leaders since Russia invaded, struggling to balance support for Kyiv with the rising economic costs of the war.

#defense-and-military-forces, #draghi-mario, #economic-conditions-and-trends, #europe, #european-union, #france, #germany, #italy, #macron-emmanuel-1977, #politics-and-government, #russia, #russian-invasion-of-ukraine-2022, #scholz-olaf-1958, #ukraine, #zelensky-volodymyr

For Its Next Zero Covid Chapter, China Turns to Mass Testing

Residents in many cities must show negative P.C.R. tests to go shopping or use public services. The policy may hamper efforts to revive the economy.

#china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #shutdowns-institutional, #tests-medical, #vaccination-and-immunization, #xi-jinping

In South Asia, Climate Change Worries Take On Fresh Urgency

Hundreds of millions of humanity’s most vulnerable live in South Asia, where rising temperatures make it more difficult to address poverty, food security and health challenges.

#agriculture-and-farming, #economic-conditions-and-trends, #floods, #food-insecurity, #global-warming, #heat-and-heat-waves, #politics-and-government, #poverty, #south-asia, #weather

Global Stock Sell-Off Continues as Economic Concerns Mount

The losses in China, Japan and Australia followed weakness in the United States, where stocks closed in bear market territory.

#bear-market, #coronavirus-2019-ncov, #economic-conditions-and-trends, #federal-reserve-system, #international-trade-and-world-market, #politics-and-government, #recession-and-depression, #stocks-and-bonds, #supply-chain, #united-states-economy

India’s Economy Is Growing Quickly. Why Can’t It Produce Enough Jobs?

The disconnect is a result of India’s uneven growth, powered and enjoyed by the country’s upper strata.

#economic-conditions-and-trends, #income-inequality, #india, #modi-narendra, #oxfam

Traffic-Clogged North England Bitter Over Stalled Rail Plan

Transport problems are just one symptom of the economic neglect that has long hobbled the region, where growth, employment and health care mostly lag far behind the south.

#bradford-england, #conservative-party-great-britain, #economic-conditions-and-trends, #england, #high-speed-2-ltd, #politics-and-government, #railroads, #roads-and-traffic, #urban-areas

McDonald’s Is Back, Moscow Style, as Russian Economy Stumbles On

The reopening of the fast-food stores under Russian ownership illustrates the economy’s surprising resilience in the face of intense sanctions, though difficult times lie ahead.

#economic-conditions-and-trends, #nabiullina-elvira-s, #politics-and-government, #putin-vladimir-v, #ruble-currency, #russian-invasion-of-ukraine-2022, #united-states-economy

A Chinese Entrepreneur Who Says What Others Only Think

Already a maverick in business circles, Zhou Hang has dared to openly criticize the government’s zero Covid policy — and urges his peers to speak out, too.

#censorship, #china, #coronavirus-2019-ncov, #economic-conditions-and-trends, #politics-and-government, #zhou-hang

White House Struggles to Talk About Inflation, the ‘Problem From Hell’

Inflation is upending voter confidence and posing a glaring political liability that looms over the Biden administration’s major policy decisions.

#american-rescue-plan-2021, #biden-joseph-r-jr, #democratic-party, #economic-conditions-and-trends, #federal-reserve-system, #inflation-economics, #prices-fares-fees-and-rates, #stimulus-economic, #student-loans, #united-states-economy, #united-states-politics-and-government

Stagflation and Recession Warnings Plague U.K. Businesses

Higher prices plus a labor shortfall plus a national economic contraction make it hard to plan for the future.

#economic-conditions-and-trends, #great-britain, #great-britain-withdrawal-from-eu-brexit, #inflation-economics, #labor-and-jobs, #prices-fares-fees-and-rates

Biden to Host Latin American Leaders at Summit in Los Angeles

The president is already the subject of a boycott by some of the region’s most important heads of state, and his agenda is being met with deep skepticism.

#biden-joseph-r-jr, #economic-conditions-and-trends, #el-salvador, #guatemala, #harris-kamala-d, #honduras, #illegal-immigration, #immigration-and-emigration, #latin-america, #los-angeles-calif, #mexico, #united-states-international-relations, #united-states-politics-and-government

Global Growth Will Be Choked Amid Inflation and War, Says World Bank

Global economic growth will be choked as war, inflation and ongoing supply chain problems take a toll.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #embargoes-and-sanctions, #inflation-economics, #international-trade-and-world-market, #malpass-david, #recession-and-depression, #russian-invasion-of-ukraine-2022, #supply-chain, #third-world-and-developing-countries, #world-bank

Thomas Piketty’s Radical Plan for a More Equal World

The economist makes his case for universal inheritance, worker ownership and ‘participatory socialism.’

#audio-neutral-informative, #corporate-taxes, #economic-conditions-and-trends, #economics-theory-and-philosophy, #income-inequality, #inflation-economics, #inheritance-and-estate-taxes, #socialism-theory-and-philosophy, #taxation, #united-states-economy, #wages-and-salaries

Persistent Inflation Puts Yellen in the Spotlight

The Treasury secretary’s recent comments about rising prices have put the Biden administration on the defensive.

#american-rescue-plan-2021, #economic-conditions-and-trends, #inflation-economics, #interest-rates, #prices-fares-fees-and-rates, #supply-chain, #united-states, #united-states-economy, #yellen-janet-l

Bamboo Is a Salve for Impoverished Nepal

The ubiquitous crop yields a degree of economic freedom — and lessons for other needy nations.

#agriculture-and-farming, #bamboo, #bureau-of-labor-statistics, #economic-conditions-and-trends, #internal-sub-only-nl, #kathmandu-nepal, #nepal

How Boris Johnson Suffered a Stunning Political Reversal

The same baffling mix of strengths and foibles that propelled Mr. Johnson’s rise have brought him low: rare political intuition, and breathtaking personal recklessness.

#conservative-party-great-britain, #coronavirus-2019-ncov, #economic-conditions-and-trends, #fines-penalties, #great-britain, #johnson-boris, #politics-and-government

U.K.’s ‘Brightest and Best’ Visa Plan Faces Charges of Elitism

Under the new program, graduates of top-ranked global colleges can move to Britain for two years, even without a job offer. But no African, Indian or Latin American universities made the list.

#colleges-and-universities, #economic-conditions-and-trends, #foreign-students-in-us, #great-britain, #immigration-and-emigration, #sunak-rishi-1980, #visas

The Perverse Politics of Inflation

Voters blame presidents for things they can’t control.

#biden-joseph-r-jr, #consumer-price-index, #democratic-party, #economic-conditions-and-trends, #inflation-economics, #oil-petroleum-and-gasoline, #price-gouging, #prices-fares-fees-and-rates, #united-states-economy

Seizing Russian Assets to Help Ukraine Sets Off White House Debate

Some European officials want to use more than $300 billion in Russian central bank assets to rebuild Ukraine. But Biden administration officials warn that diverting those funds could be illegal.

#assets-frozen, #banking-and-financial-institutions, #biden-joseph-r-jr, #central-bank-of-russia, #economic-conditions-and-trends, #embargoes-and-sanctions, #group-of-seven, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #treasury-department, #united-states-international-relations, #yellen-janet-l, #zelensky-volodymyr

Eurozone Inflation Hits Highest Level Since Creation of the Euro

The economic toll of Russia’s war on Ukraine keeps widening, with price rises in Germany hitting a record and inflation in Estonia topping 20 percent.

#banking-and-financial-institutions, #economic-conditions-and-trends, #euro-currency, #europe, #european-central-bank, #eurozone, #inflation-economics, #interest-rates, #prices-fares-fees-and-rates

Lavish Projects and Meager Lives: The Two Faces of a Ruined Sri Lanka

A frenzy of building on borrowed money in the Rajapaksa family’s home district illustrates the hubris and mismanagement that led the country into economic collapse.

#demonstrations-protests-and-riots, #economic-conditions-and-trends, #hambantota-sri-lanka, #infrastructure-public-works, #rajapaksa-mahinda

Afghanistan Tries to Stamp Out Opium Again

The multibillion-dollar trade has survived previous bans. Now, the Taliban are going after solar-powered water pumps to try to dry up poppy crops in the middle of a national economic crisis.

#afghanistan, #afghanistan-war-2001, #agriculture-and-farming, #deserts, #drug-abuse-and-traffic, #economic-conditions-and-trends, #irrigation, #opium, #politics-and-government, #poppies, #rural-areas, #solar-energy, #taliban, #united-nations, #united-nations-office-on-drugs-and-crime, #water, #wells

For New York to Get Better, Times Square Has to Get Worse

The economic future of New York depends on everyone coming back, not just the tourists. Too bad office workers don’t want to join them.

#coronavirus-return-to-office, #economic-conditions-and-trends, #nycco, #palace-theater, #real-estate-commercial, #renting-and-leasing-real-estate, #rxr-realty, #times-square-and-42nd-street-manhattan-ny

Pakistan Raises Fuel Prices in Effort to Stabilize Economy

The interim government’s move was seen as a bid to revive a $6 billion bailout from the International Monetary Fund.

#banking-and-financial-institutions, #demonstrations-protests-and-riots, #economic-conditions-and-trends, #inflation-economics, #international-monetary-fund, #khan-imran, #legislatures-and-parliaments, #oil-petroleum-and-gasoline, #pakistan, #politics-and-government, #protectionism-trade, #sharif-shahbaz

Larimar, the Dominican Republic’s Unique Stone

The Dominican Republic wants jewelers to love larimar, the national stone. But authorities shut the mine temporarily after two fatal accidents.

#accidents-and-safety, #bahoruco-dominican-republic, #dominican-republic, #economic-conditions-and-trends, #international-trade-and-world-market, #jewels-and-jewelry, #larimar-stone, #mines-and-mining, #rock-and-stone, #shutdowns-institutional, #your-feed-fashion

Harsh Winter Could Force Europe to Ration Gas, Global Energy Leader Warns

Fatih Birol, the head of the International Energy Agency, says he has been urging leaders to draw up contingency plans.

#birol-fatih, #economic-conditions-and-trends, #energy-efficiency, #european-union, #international-energy-agency, #oil-petroleum-and-gasoline, #rationing-and-allocation-of-resources, #russian-invasion-of-ukraine-2022