Tag: Great Recession in the United States

Chinese and Philippine ships collide at Sabina Shoal, a new flash point + More

Tina Marie (Ms. Cat)
Source

The incident, the first time in decades that Beijing and Manila have clashed over the Sabina Shoal, may derail efforts to lower tensions in the South China Sea.

Chinese and Philippine ships collide at Sabina Shoal, a new flash point (archived)

Related:

CCG restricts repeated Philippine vessel intrusions near South China Sea reefs

Chen Xiangmiao, director of the World Navy Research Center at the National Institute for South China Sea Studies, told the Global Times on Monday that the Philippines sees Xianbin Jiao as a transfer station for its resupply missions to Ren’ai Jiao, as Xianbin Jiao is located between Ren’ai Jiao and the Philippines’ Palawan Province.

[08-16-24] Foreign Ministry Spokesperson’s Remarks on the Philippine Coast Guard Vessel’s Illegal Anchoring in the Lagoon of Xianbin Jiao

[08-14-24] Exclusive: Manila to deploy new vessel for ‘semi-permanent presence’ at China’s Xianbin Jiao, breaking its promise: source

Philippine media have hyped the China Coast Guard’s (CCG) presence in the Xianbin Jiao, but it is the Philippines that has sent the MRRV-9701 to the area in the first place. The Philippine ship anchored in the lagoon of the Xianbin Jiao in April, with a CCG ship arriving later in July.

Updated on 07-27-2024: SeaLight, formerly Project Myoushu

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Calling a recession and blaming it on interest rates

Tina Marie (Ms. Cat)

The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.

Calling a recession and blaming it on interest rates