This MIT economist helps decide when recessions officially begin and end. Here's why those dates matter | China is willing to be a ‘partner and friend’ of the US, Xi tells American CEOs | CNN Business | The world must try to break a vicious cycle of insecurity | Myanmar junta's war against rebels displaces millions: UN

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� � � � � � This MIT economist helps decide when recessions officially begin and end. Here's why those dates matter - CNBC    As the president of the National Bureau of Economic Research and a member on the Business Cycle Dating Committee, James Poterba helps determine when a recession officially starts and ends. Why is that important? What do those dates tell us? Although there was less economic data available a century ago, "it was understood by anyone observing the economy that there were times when economic activity happened faster and more slowly, and when there was more or less going on," Poterba said. More from Personal Finance:73% of millennials are living paycheck to paycheckAmericans are saving far less than normalA recession may be coming — here's how long it could last Continued here � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium China is willing to be a ‘partner and friend’ of the US, Xi tells American CEOs | CNN Business - CNN    China is willing to be "a partner and a friend" of the United States, Chinese leader Xi Jinping told American business leaders in San Francisco on Wednesday, as he sought to court US businesses amid a decline in foreign investment in China. In a speech evoking decades of shared history and laden with symbols of warm US-China ties, Xi told a dinner event on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum that the most fundamental question shaping bilateral relations is whether they the countries are rivals or partners. "If we regard each other as the biggest rival, the most significant geopolitical challenge and an ever-pressing threat, it will inevitably lead to wrong policies, wrong actions and wrong results," Xi told an audience that included Apple CEO Tim Cook and Tesla CEO Elon Musk. Continued here � � � � � � The world must try to break a vicious cycle of insecurity - The Economist    AS 2023 drew to a close, wars were raging in Africa, Israel and Gaza, and Ukraine. These crises are explosive in their own right. Combine them with a presidential race in America and 2024 promises to be a make-or-break year for the post-1945 world order. The 2020s were destined to be dangerous. The West’s share of world GDP has fallen towards 50% for the first time since the 19th century. Countries such as India and Turkey believe the global institutions created after 1945 do not reflect their concerns. China and Russia want to go further and subvert this system. Though America’s economy is still pre-eminent, its unipolar moment has ended. Allies in Europe and Japan are in relative economic decline. There is tepid support among the middle class for America’s global role, and an isolationist tilt in the Republican Party. At the start of 2023 America was busy adapting to this reality, implementing the Biden administration’s foreign policy. The idea was to be a more selective, even selfish, superpower. Prioritisation had meant quitting Afghanistan and shifting resources to Asia to counter China. Alliances were rejuvenated in the Pacific and in Europe, where NATO was expanded and Ukraine kept afloat. Energy and tech embargoes were used to weaken adversaries, at little cost to the West. Domestic industrial subsidies, though inefficient, were potent: in mid-2023 American factory construction hit its highest rate since the 1950s. Continued here � � � � � � Myanmar junta's war against rebels displaces millions: UN - BBC News    The United Nations Secretary-General Antonio Guterres has expressed his deep concern over the escalating conflict in Myanmar. According to the UN the number of people displaced by the fighting has reached two million, and the Secretary-General appealed to all sides to protect non-combatants and open access for humanitarian aid. The striking success of an alliance of three ethnic armed groups in Shan State in driving the army and police out of large areas along the border with China has emboldened other opposition forces around Myanmar. Continued here

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