“For centuries, rising great powers have sought to thrive and exert influence by establishing a new global framework for trade. Now, Beijing wants to control the greatest businesses, and is building the biggest infrastructure project since at least the Marshall Plan — the Belt and Road Initiative (BRI).” More …
U.S. Economy
Congressional Budget Office: Republican policies add nearly $1.6 trillion to deficit
“Total deficit spending will increase by $11.7 trillion over the next 10 years, including an additional $1.58 trillion because of changes like the GOP tax law and the omnibus spending bill, according to a new report released by the Congressional Budget Office. Annual deficit spending will top $1 trillion by 2020.” More …
Nestlé Makes Billions Bottling Water It Pays Nearly Nothing For
“The company’s operation in Michigan reveals how it’s dominated the industry by going into economically depressed areas with lax water laws.” More …
IMF Cuts U.S. Growth Forecasts, Cites Trump Fiscal Plan Uncertainty
“The International Monetary Fund on Tuesday cut its growth forecasts for the U.S. economy to 2.1 percent for both 2017 and 2018, dropping its assumption that President Donald Trump’s tax cut and fiscal spending plans would boost growth. The IMF, after a review of U.S. economic policy, said the Trump administration was unlikely to achieve its goal of annual GDP growth of 3 percent over a sustained period, partly because the labor market is at a level consistent with full employment. The U.S. economy grew 1.6 percent last year.” More …