Its five-yearly congress will further tighten one man’s grip
It will be an orderly affair. From October 16th the grandees of China’s Communist Party will gather in the Great Hall of the People in Beijing for their five-yearly congress. Not a teacup will be out of place; not a whisper of protest will be audible. The Communist Party has always been obsessed with control. But under President Xi Jinping that obsession has deepened. After three decades of opening and reform under previous leaders, China has in many ways become more closed and autocratic under Mr Xi. Surveillance has broadened. Censorship has stiffened. Party cells flex their muscles in private firms. Preserving the party’s grip on power trumps any other consideration.
World Economic Forum top stories of the week: 0:15 – The World’s First flying 3D printer 01:32 – Your outer circle of friends is more important for your career than you think 02:47 – How high interest rates lower inflation 04:47 – This Swedish start up has developed an electric passenger plane
A great rebalancing between governments and central banks is under way.
For months there has been turmoil in financial markets and growing evidence of stress in the world economy. You might think that these are just the normal signs of a bear market and a coming recession. But, as our special report this week lays out, they also mark the painful emergence of a new regime in the world economy—a shift that may be as consequential as the rise of Keynesianism after the second world war, and the pivot to free markets and globalisation in the 1990s.
Top stories of the week of September 23, 2022 from the World Economic Forum:
Video timeline: 0:15 Could These Solar Panel Windows Be The Future Of Green Energy? – If deployed on a large scale, Ubiquitous Energy says the windows could transform solar capacity worldwide. 01:33 What Would A Post-Economic Growth World Look Like? – ‘What is the type of growth that the world needs? And what is the type of de-growth we need?’ asks Tariq Al-Olaimy, Social Entrepreneur and Global Shapers Alumni. 04:41 Clean energy jobs boom – Green energy jobs in wind and solar are more available than fossil fuel jobs for the first time 05:57 Is your smartphone making you less smart? – Not according to scientists
The World Economic Forum ‘Stories of the Week include:
0:18 Pakistan’s Flooding – Due to flash floods triggered by a ‘monster monsoon’, more than 1,100 people have died in Pakistan 01:30 First smartphone made in the Ivory Coast – The Open G smartphone went on sale in July 2022 in the Ivory Coast and has sold several thousand units 02:41 Brazil is building the world’s biggest urban garden – The garden is a collaboration between the City of Rio de Janeiro and the favelas – or informal settlements – that surround it 04:09 Drinking Black Tea could help you live longer – People who drink 2 or more cups of black tea a day are 9-13% less likely to die from any cause, according to a study by the US National Institutes of Health.
The new prime minister must eschew pantomime radicalism if she is to succeed. The sceptics have many reasons to be dubious—yet underestimating Liz Truss is a mistake her opponents have already made to their cost.
CNBC Marathon reviews why a cost-of-living crisis is unfolding across America’s housing infrastructure. CNBC explores what that means for apartments in the cities and houses in the suburbs. Inflation data shows that costs for items such as rent and groceries are increasing quickly across the Sun Belt and coastal cities.
Chapters: 00:00 Introduction 00:39 How to make the suburbs more affordable (Published April. 2022) 13:22 How suburban sprawl shapes the U.S. economy (Published Feb. 2022) 26:34 Are major cities still worth it? (Published May 2022)
Now years removed from the darkest days of the pandemic, people are asking: Is a return to the city worth it? Metropolitan regions have sprawled in recent years, raising budget concerns and quality-of-life issues for the people who remain downtown. Meanwhile the absence of commuters is slowing the recovery in leisure and hospitality. About 46% of renters in the U.S. are struggling to make ends meet, according to Harvard University researchers.
Builders say conditions for renters will get worse before they get better. A snarled supply chain, a labor shortage, and rising interest rates are worsening what some call a “throwaway” development pattern. Several real estate industry experts have ideas about how to make housing more attainable. Some of the most popular ideas include mixed-use districts and master-planned communities.
America’s suburbs are sprawling again. Over the 20th century, real estate developers built large tracts of single-family homes outside of major cities. The builders were following mortgage underwriting standards first introduced by the Federal Housing Administration in the 1930s. Over the century, those guidelines created housing market conditions that explicitly shut out many minorities. Experts say it is possible to update these old building codes to create equity while fixing some, but not all of the problems of American suburbia. CNBC Marathon brings together the best of CNBC’s coverage on the U.S. housing crisis and how life in the suburbs impacts city living.
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