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Days after Turkey's worst earthquake in modern history, Erdogan vowed to rebuild the southern disaster zone within a year, an undertaking conservative estimates put at $25 billion and others expect to be far higher. Authorities say more than 380,000 units in 105,794 buildings are in urgent need of demolition or have collapsed, out of 2.5 million structures across the region. "We will rebuild these buildings within one year and hand them back to citizens," he said. They devastated southern Turkey in the dead of winter, with overnight temperatures near freezing, leaving many emergency tents inadequate for the homeless. "FRIENDLY COMPANIES"The bill to rebuild houses, transmission lines and infrastructure is around $25 billion, or 2.5% of GDP, U.S. bank JPMorgan said in a report.

☆ China has to figure out how to care for 400 million people over the age of 60 by 2040 — and it's off to a rocky start
▼ + stars: | 2023-02-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +11 min

By 2040, it's expected to have 400 million people above the age of 60 — more people than in the entire US. "It's obvious that relying on contributions from medical insurance schemes to fund age care services is not likely to be viable in the longer term," she said. Alzheimer's is quickly rising as a concern in China, Luk said. "Is China aging rapidly? Beijing has been pressuring the private sector into building daycare centers, wards, and other age care infrastructure to shore up gaps in local government finances, Gu said.

HONG KONG, Feb 17 (Reuters Breakingviews) - The disappearance of Bao Fan is a chilling dampener on the reopening of the world's second largest economy. China Renaissance was valued at $2.3 billion in its own IPO in 2018 when it was ranked second on China tech deals per Dealogic. Entities including China International Capital Corp (3908.HK) and Citic Securities (600030.SS), also have to grapple with President Xi Jinping’s common-prosperity campaign, making it unclear whether these firms’ erstwhile generosity will resume when advisory activity picks up. It also noted that in September Chinese authorities took Cong Lin, the bank’s president and chairman of its Hong Kong securities unit, into custody. Column by Yawen Chen in Hong Kong and Una Galani in Mumbai.

☆ GOP Rep. Andy Ogles claimed to fight international sex crimes and be an economic expert. Like George Santos, his real resume tells another story.
▼ + stars: | 2023-02-17 | by ( Katherine Long | Bryan Metzger | Jack Newsham | ) www.businessinsider.com time to read: +14 min

Rep. Andy Ogles (R-TN) claims he's a real estate magnate, policy expert, and sex crime investigator. Ogles' business experience seems to be limited to owning two restaurants, a short-lived travel agency, and becoming licensed as an insurance agent. Ogles' supposed experience rescuing sex trafficking victims helped propel him into national headlines in his first week in Congress. During one debate during his campaign, Ogles described himself as "a former member of law enforcement" who worked "in international sex crimes, specifically child trafficking." Fighting international sex crimes and traffickingWhen discussing his support for a more militarized border with Mexico, Ogles has repeatedly referenced his involvement in combating human trafficking and working to fight international sex crimes.

☆ Analysis: Why China's reopening isn't inflationary
▼ + stars: | 2023-02-16 | by ( Rae Wee | ) www.reuters.com time to read: +6 min

However, economists see no challenge to global inflation, pointing instead to Chinese President Xi Jinping's new blueprint for self-sufficiency, broader prosperity and a socialist ideology as checks on big-ticket shopping. The slack in China's labour markets and Beijing's growth priorities will also take the edge off inflation, they say. "I don't think China's recovery or the reopening will cause any significant global inflation," said Chi Lo, senior market strategist for Asia Pacific at BNP Paribas Asset Management. BNP's portfolio managers are positioning for China's rebound to boost regional tourism, but not export price rises for manufactured goods. "I'm very much of the view that (China's reopening) will be positive for the world in terms of either not being too inflationary, but more widely having deflation in some key new goods and services," Westpac senior economist Elliot Clarke said.

☆ China has U-turned on almost all major policies it put in place in the last 3 years — and it's not surprising, given the state of its economy
▼ + stars: | 2023-02-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +10 min

But the country reversed some major policies in response to the abysmal GDP growth. China's GDP grew by 3% in 2022 — the worst since the chaotic Cultural Revolution ended. Most recently, after three years of pandemic lockdowns and isolation, China abruptly reversed course and abolished its zero-COVID policy — leaving the world guessing why. China's GDP grew only 3.0% in 2022 — the worst in nearly half a century since the chaotic Cultural Revolution ended. China's GDP growth is vital because it is the world's second-largest economy after the US, so it's a driving force for global investment and trade.

☆ Israeli parliament in uproar over Netanyahu plans for judiciary
▼ + stars: | 2023-02-13 | by ( Maayan Lubell | ) www.reuters.com time to read: +2 min

JERUSALEM, Feb 13 (Reuters) - Israeli lawmakers engaged in a shouting match on Monday in a parliamentary committee deciding on government plans to overhaul the judiciary, a move President Isaac Herzog has warned risks tipping the country into "constitutional collapse". The plans, which would give rightist Prime Minister Benjamin Netanyahu greater control of appointments to the bench and weaken the Supreme Court's ability to strike down legislation or rule against the executive, have triggered widespread protests. Morning trains from Tel Aviv to Jerusalem were packed with people, many carrying Israeli flags and protest signs, heading to the demonstration. U.S. President Joe Biden has urged Netanyahu to build consensus before pushing through far-reaching changes, saying in comments published by the New York Times on Sunday that an independent judiciary was one of the foundations of U.S. and Israeli democracy. Additional reporting by Hannah Confino; Writing by James Mackenzie, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ Most Republicans are on the fence about Trump's 2024 re-election bid. Here are the few elected officials backing him so far.
▼ + stars: | 2023-02-13 | by ( Bryan Metzger | Oma Seddiq | ) www.businessinsider.com time to read: +6 min

As of Monday, five senators and about a dozen House members have announced they're backing Trump in 2024 or expressed support for his bid. As president, Trump maintained an ironclad grip over the GOP. Eric Schmitt — the newly elected senator told Politico last month he's backing the former president in 2024, who also endorsed Schmitt in Missouri's GOP primary last year. Tommy Tuberville — the Alabama senator endorsed Trump in a tweet just days after he launched his 2024 bid, becoming the first Republican senator to do so. 3 House Republican endorsed Trump days before his widely expected 2024 announcement in November.

☆ Analysis: Shock of war hits a world economy at the crossroads
▼ + stars: | 2023-02-10 | by ( Mark John | ) www.reuters.com time to read: +6 min

But its deeper impact will be felt in how the conflict plays into shifts that were already reshaping the global economy before Russia's tanks rolled in. Economic sanctions on Moscow came as hurdles to world trade were mounting after an era of rapid globalisation. Reuters GraphicsReuters GraphicsReuters GraphicsNO ENDGAME IN SIGHTSome might conclude that means the world economy has taken the conflict in its stride. That would take the outlook for both the global economy and wider peace into uncharted territory. For the economy, the risk is that energy prices - and hence inflation - will be squeezed higher if shortfalls are not met.

☆ Jason Miller returns as Trump advisor for campaign struggling to generate much excitement compared to 2016
▼ + stars: | 2023-02-10 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Jason Miller will advise Donald Trump on the strategy of his 2024 presidential bid. He previously left the Trump campaign to become CEO of the right-wing social media platform Gettr. Miller is joining a team that is struggling to generate the same excitement as past campaigns. "It was always a matter of when and not if I returned to help re-elect President Trump in 2024," Miller said in a statement, per Politico. Former Trump White House press aide Sarah Matthews described the campaign launch in a tweet as "low-energy" and "uninspiring."

☆ Yellen wants bolder World Bank steps on climate change, global issues
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +4 min

[1/2] U.S. Treasury Secretary Janet Yellen arrives to a news conference during the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 14, 2022. Yellen said countries urgently needed the World Bank and other multilateral development banks to evolve, given declining progress addressing global poverty that began even before the COVID-19 pandemic. "In today’s world, sustained progress on poverty alleviation and economic development is simply not possible without addressing the global challenges that face us all." She said Treasury was asking the Bank to identify concessional resources - low or zero-interest loans - to help countries tackle global challenges. The bank also needed new diagnostic tools to identify global challenges affecting development, and it needs to boost its financial capacity, she said.

☆ Analysis: Swiss neutrality on the line as arms-for-Ukraine debate heats up
▼ + stars: | 2023-02-06 | by ( John Revill | ) www.reuters.com time to read: +5 min

Buyers of Swiss arms are legally prevented from re-exporting them, a restriction that some representing the country's large weapons industry say is now hurting trade. Under Swiss neutrality, which dates back to 1815 and is enshrined by treaty in 1907, Switzerland will not send weapons directly or indirectly to combatants in a war. Third countries can in theory apply to Bern to re-export Swiss weapons they have in their stocks, but permission is almost always denied. Meanwhile the right-wing Swiss People's Party (SVP), the lower house's largest party and traditionally staunch defenders of neutrality, now appears divided. ($1 = 0.9132 Swiss francs)Reporting by John Revill; editing by John Stonestreet and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Billionaire Charles Koch-Backed Group Will Push GOP to Move Past Donald Trump
▼ + stars: | 2023-02-05 | by ( Alex Leary | ) www.wsj.com time to read: 1 min

WASHINGTON—A group funded by billionaire Charles Koch will work to support a Republican presidential nominee other than Donald Trump, concluding in a strategy memo that “we need to turn the page on the past.”The organization, Americans for Prosperity, has stayed out of the last two presidential cycles but has concluded it needs to engage now as Mr. Trump mounts his third consecutive White House run. The memo released Sunday doesn’t mention the former president by name but is unambiguous in its purpose.

☆ Koch-backed group AFP ready to back new Republican candidate
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

The group, Americans for Prosperity (AFP), has not previously supported candidates in presidential elections but said in the memo the best thing for the country would be to have a president in 2025 who "represents a new chapter." "The Republican Party is nominating bad candidates who are advocating for things that go against core American principles. This means the country is in a downward spiral, with both parties reinforcing the bad behavior of theother." Former president Trump is so far the only announced Republican candidate, although former South Carolina Governor Nikki Haley is expected to kick off her campaign for the nomination this month. Reporting by Rahat Sandhu in Bengaluru; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

[1/6] Pope Francis greets people during the Holy Mass at John Garang Mausoleum, during his apostolic journey, in Juba, South Sudan, February 5, 2023. Two years after independence, South Sudan plunged into a civil war that killed 400,000 people. "I want peace to come to South Sudan. Jesilen Gaba, 42, a widow with four children, said: "The fact that the three Churches united for the sake of South Sudan, this is the turning point for peace. South Sudan has some of the largest crude oil reserves in sub-Saharan Africa but a U.N. report in 2021 said the country's leaders had diverted "staggering amounts of money and other wealth" from public coffers and resources.

☆ Koch network looking to back a new GOP presidential nominee in 2024 and 'turn the page' on Trump
▼ + stars: | 2023-02-05 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

The donor network created by Charles Koch seeks to boost its role in the GOP presidential primaries. The message is seen as a veiled swipe at Trump, who is running for the GOP nomination in 2024. However, the network has largely stayed out of presidential primaries after identifying five approved candidates in 2015, all of whom ultimately fell to Trump the next year. While the Koch network disagreed with Trump on his implementation of trade tariffs during his White House tenure, it did work with the administration on criminal justice reform efforts. Nikki Haley of South Carolina is expected to enter the race on February 15, but at the moment, Trump remains the only major declared candidate seeking the GOP presidential nomination.

China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.

☆ German retail sales post shock fall in December
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 31 (Reuters) - German retail sales unexpectedly fell in December, as a Christmas shopping period weighed down by high inflation and the energy crisis revived fears of a more marked slowdown in Europe's largest economy this winter, data showed on Tuesday. Retail sales decreased by 5.3% in December compared with the previous month, the federal statistics office said. Retail sales also fell year-on-year in December by 6.4% in real terms, the office said"Just before Christmas, retailers in German city centres missed the big rush," said VP Bank chief economist Thomas Gitzel. The federal statistics office publishes more detailson retail sales on its website. Reporting by Miranda Murray and Friederike Heine, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

SINGAPORE, Jan 31, (Reuters) - Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth. His family might establish a Singapore family office to manage its wealth in the future, he added. Well-known Singapore family offices include those set up by James Dyson of vacuum cleaner fame, hedge fund manager Ray Dalio and Zhang Yong, founder of China's Haidilao hotpot restaurant chain. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year. While some are setting up family offices, others are setting up business headquarters in Singapore or investing in funds domiciled in Singapore, she said.

☆ UK's Hunt pledges to boost growth but won't budge on tax hikes
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] British Chancellor of the Exchequer Jeremy Hunt leaves his house in London, Britain, November 16, 2022. REUTERS/Toby MelvilleLONDON, Jan 26 (Reuters) - British finance minister Jeremy Hunt will promise on Friday to tackle the country's weak productivity with post-Brexit finance reforms to boost growth, but he will also stick to the tax rises that have angered some lawmakers in his Conservative Party. Hunt, who steadied financial markets after the turmoil of former Prime Minister Liz Truss' "mini-budget" in September last year, is preparing to announce a plan for growth in a budget statement in March. The Telegraph newspaper said Hunt would reject calls from some Conservative lawmakers to bring forward tax cuts as a way to spur growth. Earlier on Thursday, Hunt told fellow ministers that he had to stick to the fiscal discipline he outlined in November in order to help reduce inflation which is running above 10%, according to Prime Minister Rishi Sunak's office.

☆ China and the Population Bomb That Wasn’t
▼ + stars: | 2023-01-24 | by ( William Mcgurn | ) www.wsj.com time to read: +1 min

Doubleday once published a book with a title—“Too Many Asians”—that would never fly today. Author John Robbins argued that “if humanity is to have a future,” the West would have to see to it that fewer Asians were born in the years ahead. Robbins was but one voice in a chorus of think tanks, government aid organizations, international development specialists, environmentalists, zero-growthers, doom mongers and do-gooders who all saw population control as the cure for poverty. China’s recent announcement that its population fell by 850,000 last year, the first recorded drop since the Mao-induced famines of the early 1960s, provoked much comment on the social and economic challenges decline brings. Yet conspicuously absent was any recognition that the whole idea that Chinese moms having children threatened the country’s prosperity was, much like Marxism itself, a noxious Western import.

☆ Are There ‘Too Many Asians’?
▼ + stars: | 2023-01-24 | by ( William Mcgurn | ) www.wsj.com time to read: +1 min

☆ Live updates: Suspect in shooting at dance hall near Los Angeles is dead, sheriff says
▼ + stars: | 2023-01-23 | by ( Erick Mendoza | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | ) www.nbcnews.com time to read: +33 min

Share this -Link copiedAlhambra officials release statement on Monterey Park shooting Alhambra officials released a statement on the Monterey Park shooting early Sunday evening. Officials also acknowledged the shooting that occurred in the city after the Monterey Park shooting. Share this -Link copiedPolice release pictures to identify Monterey Park shooting suspect The Los Angeles County Sheriff's Department has released pictures seeking to identify the Monterey Park shooting suspect. Law enforcement has connected him to the Monterey Park shooting and a shooting minutes later in Alhambra. Patrons of the Alhambra dance hall wrestled a firearm away from a man about 20 minutes after the Monterey Park shooting.

☆ Live updates: Possible suspect in mass shooting at dance hall near Los Angeles is found dead, sources say
▼ + stars: | 2023-01-22 | by ( Erick Mendoza | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | ) www.nbcnews.com time to read: +31 min

☆ Here's what the Year of the Rabbit could symbolize
▼ + stars: | 2023-01-20 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +5 min

It’s the Year of the Rabbit and we should all be focusing on rest, introspection and working smarter not harder. Though it was a weak swimmer, the rabbit used its brain, opting to cross the river portion of the course on a raft. … If you did just jump in because of FOMO, you’re going to have a whole slew of issues.”The rabbit in the Chinese zodiac also speaks to the power of empathy. What does my community need? How can I make myself of service to my community?” Lee said.

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