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This article was originally published by Pacific Forum, a Honolulu-based foreign policy research institute founded in 1975. In 2014, at the first meeting of its National Security Commission, China formally introduced the concept of “comprehensive national security” based on economic security. Under this framework, safeguarding economic security requires improving China’s economic strength while containing financial risks and enhancing economic resilience. However, the unexpected COVID-19 pandemic has exposed China’s economic vulnerabilities, and its post-pandemic recovery has been slower than many observers had expected. Challenges from the external environment have led theories such as “Peak China” to make pessimistic predictions about the…

CommentaryNearly half of the world’s wealth, 47.5%, or $213 trillion, is held by just 1.5% of the world’s adult population.According to the 2024 UBS Global Wealth Report (PDF), which covers 56 markets accounting for 92% of global wealth, there are at least 58 million billionaires in the world, making up 1.5% of the global adult population. The United States has the most billionaires, with around 21.95 million people with seven-figure fortunes or more. China comes in a distant second with around 6.01 million, followed by the UK (3.06 million), France (2.87 million) and Japan (2.83 million). UBS defines wealth as…

LANCASTER, Calif. (KABC) — Firefighters were busy battling the blaze Friday after a massive fire broke out at an auto recycling yard in Lancaster, destroying an estimated 1,500 vehicles.The fire continued to burn for hours Thursday, spewing thick, black smoke across the Antelope Valley.Temperatures in the high desert exceeded 100 degrees Fahrenheit, and the flames reportedly destroyed as many as 1,500 vehicles and 10 acres of land on a 20-acre site.Firefighters later contained the blaze, but residents were advised to stay indoors due to smoke.”i was here [Thursday] “My store was the last one open all day,” said Beau Teverius,…

Let’s take a closer look at the bullish thesis for Amazon and why it could soar even higher from here. Source: Sundry Photography / Shutterstock.com For those looking for a top mega-cap tech stock to buy and hold, Amazon (NASDAQ:AMZN) has proven to be an excellent long-term investment. In fact, AMZN stock has seen impressive gains this year, joining the $2 trillion club. Amazon continues to show strength and growth in generative AI, e-commerce, and cloud computing. In fact, the company’s AWS cloud services business holds a 31% share of the cloud market, meaning there is likely still room for…

Image source: ShutterstockImage caption: Hundreds of thousands expected to be affected by delays this weekend Article information Author, Ido Vock Post, BBC News1 hour agoFrench rail operator SNCF warned that disruptions caused by Friday’s vandalism on the country’s rail network could continue into the weekend, affecting hundreds of thousands of further passengers.Simultaneous arson attacks on three TGV high-speed train lines caused chaos for travellers on Friday, just hours before the opening ceremony of the Paris Olympics. A fourth attack was thwarted by railway officials. Prime Minister Gabriel Attal described the attack as an “act of vandalism.”Around a quarter of international…

Florida saw 140.6 million visitors, a new record and a 2.3% increase over 2022.Peter Kranis: The state has valued tourism at $121.5 billion in economic impact, 2 million tourism jobs, and $1,840 in tax savings per resident — and our county alone has an economic impact of $4.6 billion from tourism. BREVARD COUNTY, Fla. – The State of Florida recently released its 2024-25 marketing plan for July through June. In it, there were some very interesting statistics about the current state of Florida’s tourism industry that I would like to share with you. This is similar to what we’ve seen…

Get your free copy of Editor’s DigestFT editor Roula Khalaf picks her favourite stories in this weekly newsletter.Rachel Reeves claims to have inherited the worst economic legacy of any British chancellor since the second world war, and economists say she has reason to be unhappy about the state of the national finances.”Taxes are very high, debt is very high and spending needs to increase dramatically,” said Stephen Millard, deputy director of the National Institute of Economic and Social Research. “That’s where you can legitimately argue that the government has inherited a particularly bad legacy.”What has the Labour Party stood for?Labour…

European domestic airlines such as Ryanair, easyJet, Wizz Air and Vueling are popular low-cost, no-frills airlines that are perfect for long weekend getaways or summer trips to Greece, Italy and Croatia. Travelers can sometimes snag flights to dream destinations at incredibly low prices, but the affordability comes with one important caveat: very strict baggage and possession restrictions. As a travel writer from Italy, traveling around Europe on these budget airlines has been my main source of income for over a decade. Over the years, I’ve learned the 12 things you should never pack when flying on budget European domestic airlines,…

PARIS — Rain fell in drizzles and downpours, making a frustrating noise as the host city tried to liven things up. The weather didn’t mar Paris’ grandiose plans to host the Olympics for the first time in a century, but it also didn’t succumb to grandiosity. And for all the artistry and beauty, the ambitious endeavor succumbed to unintended symbolism.The rain dashed all the bold imagery and soaring optimism – a sense that French creativity could match and reinvent the world. It was a persistent foil to a society on fire. Every Olympic Games seeks to create an ideal world,…

Nothing has launched the first phone in its CMF series, strategically targeting the entry level of the mid-range segment, or what could be called the upper end of the budget range. This bold move marks Nothing’s foray into a highly competitive price range, aiming to capture the attention of price-conscious consumers who want premium features without worrying about their budget. The CMF Phone 1 represents a calculated step for Nothing, bringing its unique design philosophy and user experience to a wider audience.The CMF Phone 1 aims to redefine expectations at this price segment with a combination of carefully curated features…