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The CHIPS Act, signed into law in 2022, aims to revive semiconductor manufacturing in the U.S. by providing grants and incentives to companies, with Intel being the primary recipient. The U.S. has not manufactured leading-edge chips since 2017, with Taiwan and South Korea dominating the market. The Act, with $280 billion in authorized funding, is an exercise of industrial policy that could have wide-ranging effects on businesses and competition for tech-literate employees. The Act reflects a larger trend of corporations playing a geopolitical role, as nations increasingly compete through economic means. The U.S. hopes to reclaim global leadership in chip manufacturing with the Act, but challenges remain, such as the need for specialized inputs produced in other countries and a shortage of skilled workers. The success of the Act will be measured by its progress in reversing the decline of America's chip technology. [Extracted from the article]

JEL codes: E44, G1l, G12 1. INTRODUCTION Over the last few years, many countries have adopted economic policies that can be broadly defined as populist. Typically, these policies include different [...]

In May William Ruto visited Washington DC for the first state visit of an African leader since 2008. Lennox Yieke profiles the flourishing US-Kenya relationship President William Ruto's state visit [...]

President William Ruto's economic policies, while gaining a mixed reception at home, are endearing East Africa's largest economy to gloDal investors. Ruto's measures, which include aggressive revenue collection, spending cuts [...]

The article discusses viewpoints from various representatives regarding U.S. Congress' approach to addressing economic inequality. Topics include critiques of current economic policies, concerns about inflation and decreased purchasing power, and proposals for creating a stronger economy, ensuring national safety and upholding freedom.

Governments around the world are increasingly intervening in the private sector through industrial policies designed to help domestic sectors reach goals that markets alone are unlikely to achieve. Companies in targeted sectors—such as automakers, energy companies, and semiconductor manufacturers—may experience dramatic changes in their operating environments. The policies could create new costs or deliver significant financial incentives to shift R&D or manufacturing investments. They might also incent firms to alter their supplier networks or change their trading partners. Managers who have grown up in markets without such interventions are now facing an unfamiliar environment. In this article, HBS professor Willy C. Shih outlines some of the policy approaches and offers a framework for responding to them. Business leaders need to understand the competing interests shaping the policies, engage and educate political leaders and their staffs, collaborate with upstream and downstream partners, and weigh the pros and cons of accepting government incentives. [ABSTRACT FROM AUTHOR]

The article reflects on the challenges and contemplations of aging, exploring the contrasts between societal expectations and personal quests for meaning. Topics include the impact of governmental policies on individual peace, the misalignment of societal values with personal fulfillment, and the search for a deeper sense of tranquility beyond material concerns.

The given text is a summary of a report by the National Defense Commission, which emphasizes the need for a stronger and integrated innovation ecosystem, defense industrial base, and a larger Joint and Total Force in order to counter threats from peer or near-peer adversaries. The report recommends increasing the military budget through supplemental appropriations to support national security innovation, expand industrial capacity, secure access to critical minerals, and invest in a digital and industrial workforce. It also highlights China's military growth and economic initiatives, as well as Russia's chronic and reconstituting threat. The report suggests that the United States should strengthen alliances and integrate all elements of national power to effectively respond to these threats. [Extracted from the article]

This document titled "Ensuring a Fair, Transparent, and Efficient Power Sector in Pakistan" outlines several recommendations for improving the power sector in Pakistan. The document emphasizes the importance of transparency and accountability, suggesting measures such as providing public access to data on Independent Power Producers (IPPs) and conducting forensic audits of IPP plants. It also proposes energy market reforms, including the establishment of a power exchange and the privatization of government-owned power plants and distribution companies. Stakeholder inclusion is highlighted, with a call for representatives of large consumer groups to have seats on the NEPRA Authority. The document also suggests immediate tariff adjustment initiatives and the establishment of an Economic Policy and Business Development Think Tank to drive economic reforms. The author urges citizens to join in the effort to protect the nation's sustainability. [Extracted from the article]

The article critiques the Australian Census Commission's decision to simplify the religion question, implying an agenda to minimize the visibility of faith in Australia. Topics discussed include the need for precise religious data for national planning, the growth of diverse faith communities amidst declining traditional denominations, and the progressive narrative that overlooks the robust religious engagement among immigrant populations.

The article discusses the potential impact of a second Trump presidency on Asia, focusing on security and defense as well as trade and commerce. In terms of security and defense, a Trump 2.0 administration could lead to a scaling back of U.S. military presence in the region and put pressure on allies like Japan and South Korea to increase their financial contributions. Trump's stance on Taiwan, the South China Sea, and the alliance with the Philippines is expected to remain firm. In terms of trade, a second Trump administration could increase tariffs on China and other Asian countries, potentially leading to a re-routing of supply chains and increased exports from countries like Vietnam and Indonesia to the United States. The article also mentions the possibility of a collapse of the Indo-Pacific Economic Framework (IPEF) and the potential negative consequences for the regional economic order. Overall, the article suggests that a Trump 2.0 administration could significantly alter the strategic landscape in Asia, particularly in the field of trade and commerce. [Extracted from the article]

China's leaders are preparing for the third plenary session of the 20th Central Committee, which will focus on deepening reform and advancing Chinese modernization. The session has been delayed, indicating difficulties in formulating an economic plan. Top Communist Party leaders have been touring the country to understand the economic situation, with a focus on sectors such as technology, green transition, and innovation. The session is expected to address issues such as central-local relations, the promotion of "new quality productive forces," the development of the Yangtze Delta River region, revitalizing the real estate sector, and restoring confidence among private capital. The IMF predicts that China's GDP growth will fall to 3.3 percent by 2029 due to an aging population and low birthrate. [Extracted from the article]

The article discusses China's economic trajectory and challenges it faces, including internal structural issues and a hostile external environment. The author interviews Sara Hsu, an expert on China's economy, who explains that China's government-led economic policy is viewed as a threat to national security by the United States. The article also highlights the tension between China's economic strategy and the conflicting goals of its trade partners, particularly in industries such as electric vehicles, lithium batteries, and solar cells. The author suggests that China will continue on its current trajectory and view the response of its trading partners as hostile, which may hinder its growth in the desired areas. Additionally, the article mentions China's focus on integrating AI into business and growing its digital economy, but notes that AI is also an area of strategic competition with the US. The relationship between China's party-state and private enterprises has shifted under Xi Jinping, with an emphasis on state enterprise and reduced investment in the private sector. The article concludes by stating that the upcoming third plenum of the 20th Central Committee is likely to continue the state-led approach to innovation and development, which may not be as effective in promoting economic growth as a private-led approach. [Extracted from the article]

Mian Zahid Hussain, Chairman of FPCCI Advisory Board and President of the Pakistan Businessmen and Intellectuals Forum, has expressed concern over the recent increase in electricity tariffs and fixed charges in Pakistan. He argues that these increases are unbearable for both the public and businesses, threatening livelihoods and hindering economic growth. Hussain criticizes the government for not consulting with business stakeholders before finalizing the budget and warns that these policies will lead to missed tax targets and hinder business expansion. He urges the government to reconsider these increases and engage with business and industrial leaders to develop more sustainable economic policies. [Extracted from the article]

The article discusses the need for a shift away from austerity policies in economic programs, particularly in the context of the International Monetary Fund (IMF) program in Pakistan. The author argues that austerity policies have led to macroeconomic instability and hindered economic growth. They emphasize the importance of investing in import substitution, enhancing exports, and transitioning to a green economy to build economic resilience and reduce dependence on fossil fuels. The article also highlights the significant economic costs of climate change and the insufficient progress in renewable energy goals. Additionally, it points out the lack of adequate climate finance and the need for increased funding to address climate change. [Extracted from the article]

The article informs on earlier high inflation experiences in U.S. history that may provide insights on how to address high inflation today. It mentions that wars, supply shocks and oil prices have all caused inflation, along with policy options for Congress such as removing fiscal and monetary stimulus; Federal Reserve and interest rate changes; and credit controls.

Perhaps the clearest differences--improvements, really--between Kamala Harris’s economic proposals and the much maligned Bidenomics are those where she’s taken Biden’s policies further. Had Biden been able to get his Build [...]

PRESIDENTIAL DEBATE:Debate Caps a ‘Cruel Summer' for Trump Vice President Kamala Harris repeatedly goaded former President Trump into insults that had nothing to do with policy. * SHAKE IT OFF. [...]

Byline: Palash Ghosh Sonal Desai Executive vice president and chief investment officer of fixed income, Franklin Templeton Sonal Desai, executive vice president and chief investment officer for Franklin Templeton Fixed [...]

Commentary Money Are You Financially Savvy? MONEY SMART WOMEN BY JANET BODNAR NNAMARIA Lusardi is senior fellow at the Stanford Institute for Economic Policy Research and coauthor, with Tim Kaiser, [...]

Byline: Victor Martino Democratic presidential nominee Kamala Harris needs to clarify her proposal to ban food and grocery companies from 'price gouging' or drop it altogether. Harris' plan, which she [...]

Trump and Harris offer vastly different economic policies. Harris' campaign focuses on middle and lower-income support while Trump on cutting taxes. But both candidates will have to face the reality [...]

As the citizens grapple with exorbitant electricity bills, a high-level business delegation will meet President Asif Ali Zardari on Thursday to discuss concerns of the business community over independent power [...]

(https://images.unsplash.com/photo-1519150268069-c094cfc0b3c8?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wzMDAzMzh8MHwxfHNlYXJjaHwxfHxwdXBwaWVzfGVufDB8fHx8MTcyMzg4MDEzMnww&ixlib=rb-4.0.3&q=80&w=1080) Photo by (https://www.wonkette.com/true) Judi Neumeyer on (https://unsplash.com) Unsplash Vice President Kamala Harris unveiled her (https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families) first economic policy proposal of the campaign Friday -- with more on the way, [...]

Vice President Kamala Harris is announcing a plan to ban price gouging on food and groceries. She would also call on the FTC to penalize companies that don't comply with [...]

The BRH will adhere to an accommodative monetary policy stance in 2024-25 to mitigate the economic fallout from the security crisis. The BRH has held the benchmark repurchase agreement (repo) [...]

Economic policy will remain largely unchanged after the parliamentary election in June. The emphasis is on implementing the New Revival Policy, a government programme announced by the MPP to boost [...]

Following the conclusion of elections we expect policy continuity and project that the government's policy focus in its new term will return to sustaining brisk economic growth. Climate change mitigation [...]

Trump is sparking steep losses in areas of the market he's targeted, a group of researchers said. Researchers pointed to Trump's many 'tantrums' against certain companies and sectors, which sparked [...]

President Joe Biden's July 21 decision to withdraw from his reelection campaign -- and his subsequent endorsement of Vice President Kamala Harris to take his place at the top of [...]

Byline: EFY Bureau India's electronic manufacturing sector is poised for significant growth in the coming years, driven by ambitious government initiatives and strategic economic policies. Currently employing around 25 lakh [...]

In This Issue / City view Good riddance to Bidenomics Joe Biden will not be re-elected and America will be better off without his wasteful economic policies Matthew LynnCity columnist [...]

Here is a rundown of the full list of bills from the King’s Speech 2024, including quotes from King Charles III’s address where relevant: ECONOMIC STABILITY AND GROWTH Budget Responsibility [...]

King Charles III delivered the King’s Speech on Wednesday, unveiling more than 35 bills. The first Speech from the Throne under a (https://www.politics.co.uk/tag/labour/) Labour government in 14 years emphasised securing [...]

Trump's triumphant return. President Trump made an emotional and triumphant arrival to his third nominating convention Monday night, just over 48 hours after surviving an assassin's bullet. Yesterday's theme on [...]

Market Update: European stock markets are broadly lower, with the DAX underperforming after a sharp correction in the ZEW investor confidence reading that flagged downside risks to the growth outlook. [...]

The French state maintains an oversized role in the economy, providing financial transfers that are estimated to equate to about 15% of New Caledonia's GDP. The territorial government's long-term policy [...]

In This Issue / Politics & economics Iran elects a moderate Many Iranians boycotted the first round of the country’s presidential election, says The Guardian. But more turned out for [...]

https://www.economist.com/newsletters/us-in-brief to receive "The US in brief" as a newsletter, each weekday, in your inbox. Joe Biden hosts foreign leaders on Tuesday at a NATO summit in Washington, DC. He [...]

The article explores the implications of Prabowo Subianto's election as Indonesia's president, highlighting his potential economic policies, international relations stance, and the internal political dynamics shaping his administration. It discusses concerns over continuity in economic reforms, Indonesia's strategic positioning between global powers, and Prabowo's approach to governance amidst domestic and international expectations.

The article offers information on influential figures in economic policy, including Mana I. Corwin, Kate Hahn, Dean Baker, Tyler Cowen, Oren Cass, and Paul Dans. Topics include their roles in labor economics, tax policy, macroeconomics, and conservative economic ideology. Hahn argues for the benefits of labor strikes for economic efficiency and heads a team focused on policy debates.

The article explores the question of whether India could become the next China in terms of economic growth. It highlights India's recent infrastructure development, digital transformation, and government welfare programs as major policy achievements that have improved the country's economic prospects. The article also discusses the potential for India to increase its global market share in skill-based service exports and manufacturing. However, it acknowledges that India still faces challenges, such as weak private investment and concerns about government policies and institutional decay. Overall, while there are positive signs, it is premature to declare India as the next China. [Extracted from the article]

The article discusses the evolving perceptions and concerns regarding the European Union (EU) across different European countries, focusing on issues such as security, economic policies, and cultural identity.

Japan's economy is experiencing a paradox where its GDP has been surpassed by Germany's, dropping it to the world's fourth-largest economy, but its stock market continues to soar. The depreciation of the Japanese yen has influenced the nominal GDP calculation, causing it to shrink. However, Japan's real growth rate and labor productivity are lower than Germany's, and its GDP per capita and percentage of the world economy are at record lows. The stock market's success is attributed to the weak yen benefiting big companies and increased investment from overseas. Despite this, the economy faces challenges such as a slump in consumption and stagnant wages, leading to inflation and the loss of skilled workers. The government's economic policies have not yet addressed these underlying issues. [Extracted from the article]

The article compares the economic policies towards China of former US President Donald Trump and current President Joe Biden. Both administrations see China as an unfair trading partner and have taken steps to address this issue. However, there are differences in their approaches. Trump focused mainly on trade concerns and took a unilateral approach, while Biden takes a more comprehensive view and prioritizes working with allies and partners. Biden also emphasizes worker and human rights in his China policy. These differences are likely to become more apparent in the 2024 presidential election campaign. The article also discusses the challenges and complexities that the next president will face in China-US economic and trade relations. [Extracted from the article]