For over a decade, China has been building an alternative to the US-led order, notes Andrew J Sinclair I enjoyed reading George Magnus’s article (Why Peak China may finally have arrived, 11 August). However, focusing on peak economic growth misses the bigger picture and underestimates China in ways that could weaken western policy responses. China’s central goal is national power, and we are far from its peak national power. The Chinese economic miracle has taken place under the US-led global system. China built factories along its coast, filled container ships,…
Tag: Money
The $10,000 job search: why people are paying a small fortune to find work
In the US, it takes an average of 24 weeks to secure new employment. Enter a legion of expensive career strategists, networking sites and AI interview training … Name: The $10,000 job search. Age: Depressingly modern. Continue reading… The Guardian
The ‘rat person’ trend is here – and I thoroughly approve | Arwa Mahdawi
Somewhere in Zhejiang province, China, a woman is living my dream. She gets up in the morning and then, almost immediately, goes back to bed. She lies prostrate all day long, scrolling, eating some food, opening some packages, showering at 2am, then snoozing again. As a longtime sleep enthusiast – and the mother of a child who thinks that 5am is a good time to start the day, all systems go – I think this sounds like bliss. The woman in Zhejiang is known as @jiawensishi – and also “rat…
Ethical alternatives to American goods | Brief letters
Pleased to see I’m far from alone in trying to avoid American products (This un-American life: can you really divest yourself of everything from the US?, 19 April). Mostly there are alternatives. There is no need to make your own cleaning products – for example, there are Bio-D and Faith in Nature. I have a Kobo e-reader and a Doro phone. A good source of alternatives is Ethical Consumer magazine.Ruth ClancyWhaley Bridge, Derbyshire For someone who sees nothing wrong in saying the US wants Greenland, no wonder Donald Trump thinks…
The Guardian view on the digital pound: an impetuous idea with a risky momentum of its own | Editorial
Two years ago, the House of Lords looked into whether the Bank of England should issue digital pounds to be held in electronic wallets. Peers were unconvinced, asking if this wasn’t “a solution in search of a problem”. Last December, MPs on the Treasury select committee said the same thing. The government’s response, however, was to tell the public to prepare for a “Britcoin” to be in use by the end of the decade. Physical money has been around for thousands of years for good reason. Cash is convenient, reliable and…
China’s share of Europe’s electric car market accelerates as UK leads sales
China’s share of the European electric car market has more than doubled in less than two years as the world’s second largest economy tries to take the lead in the transition away from petrol and diesel cars. The UK is the largest market in Europe for Chinese electric car brands, accounting for almost a third of sales in 2023 so far, according to data from Schmidt Automotive Research on the 18 largest European car markets. About 5% of all new car sales in the UK were from Chinese brands in…
International Energy Agency warns of higher bills this winter
The head of the International Energy Agency has said energy prices may spike again this winter, forcing government to subsidise bills – just days after state support for UK households fell away. Fatih Birol said a rapid improvement in the Chinese economy, coupled with a harsh winter, could put pressure on gas supplies and push up bills for consumers. He said the agency “cannot rule out” another spike in gas prices this winter, which would mirror last year when a surge in wholesale costs as a result of Russia’s invasion…
The Guardian view on India at a crossroads: development, not dictatorship | Editorial
Becoming the world’s most populous nation allows India to burnish its credentials as a global economic and political heavyweight. With a population that is much younger than those of China, the US and the EU, there will be renewed interest in India’s potential to be a beacon of liberal values. The west is eager to draw a democratic giant into its orbit. China and India will together account for about half of all global growth this year. But India risks emulating its bigger northern neighbour’s economic ascent under tight political…
‘Everything is fake’: how global crime gangs are using UK shell companies in multi-million pound crypto scams
A woman meets a man online. They flirt. Then, after a few weeks, they begin imagining a future together. Fast forward a few months and one of them has had their heart broken and been defrauded of their life savings. It sounds like a classic romance scam, but it isn’t. This is “pig butchering”: a brutal, elaborate and rapidly expanding form of organised crime, often involving criminal syndicates, modern-day slaves and victims around the world. Since it came to prominence in 2021, the fraud – which involves scammers grooming their…
UK energy bills to fall to about £2,200 from July as wholesale gas costs drop
Energy bills are expected to fall to about £2,200 from July in a fillip for the government and households struggling with ballooning costs. Leading energy consultancy Cornwall Insight has predicted that, excluding government subsidies, typical annual household energy bills will have fallen from £4,279 now to £3,208 from April, and then will ease to roughly £2,200 for the remainder of the year. The forecasts are about £300 a year lower than its previous expectations because of the recent fall in wholesale gas costs. Nevertheless, bills are set to remain far…