Politically, a US intelligence report indicates that Netanyahu's viability to lead Israel is in jeopardy.
Within the economic sphere, Biden proposes increasing taxes on corporations and wealthy individuals. In turn, the United States leads global arms sales. On the other hand, the increase in sales of manufactured goods abroad is contributing to China's economy.
On the business front, BYD is facing challenges in its international expansion.
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Policy
- According to the annual report on national security threats facing the United States presented to Congress on Monday, the US intelligence community raised questions about whether Prime Minister Benjamin Netanyahu of Israel could remain in power. “Distrust in Netanyahu's ability to govern has deepened and widened among the public from its already high levels before the war, and we expect large protests demanding his resignation and new elections,” according to the report. The US intelligence report also indicates that Israel will face difficulties in defeating Hamas militarily. Military experts and analysts have issued similar assessments, warning that Israel's aggressive bombing campaign could only serve to inspire future generations of terrorists.
Economy
- Joe Biden unveiled a $7.3 trillion budget plan for 2025, a measure that would push America's debt past 100% of gross domestic product. The president detailed a fiscal strategy that increases spending while seeking to generate $3 trillion in savings over the next decade through higher taxes on businesses and wealthy individuals. The proposal is unlikely to gain support in Congress, however it will be a pillar of Biden's re-election campaign as he seeks to highlight the differences between his economic policies and those of the presumptive Republican presidential nominee, Donald Trump. The budget proposal comes less than eight months before Election Day and amid polls showing Trump with a narrow lead over Biden.
- According to a recent report, the United States consolidated its position as the world's leading arms exporter, accounting for more than 40% of global arms trade over a five-year period. Meanwhile, Russia's foreign sales fell by more than half due to the conflict in Ukraine. Russia has refocused its defense industry to support its war there, while the United States has shipped weapons in large quantities to kyiv. Concerns about China's military ambitions are also driving U.S. sales to partners and allies in Asia. The United States sent weapons to 107 countries, more than the total of France and Russia combined, the next two largest exporters.
- From the steel and automobile industries to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for their products. China's exports, measured in dollars, rose 7% in January and February compared to last year. Additionally, China has found ways to evade some tariffs. Chinese components are being exported in increasing volumes to countries such as Vietnam, Malaysia and Mexico. These countries process the goods so that they count as their own products and not as made in China. These countries then ship the goods to the United States and the European Union, which apply low or even zero tariffs. They are both starting to show concern.
Business
- Chinese electric vehicle maker BYD is encountering obstacles in its overseas expansion, realizing that its rapid growth in its domestic market does not automatically lead to quick success in important foreign markets like Europe. BYD executives said the company is unlikely to meet management's internal goal of selling 400,000 cars outside China this year, compared with 242,765 sold last year. Challenges include weak market demand, quality control issues and internal tensions over how quickly BYD should seek to capture market share. Additionally, BYD vehicle prices are significantly higher overseas than in China, reducing the company's ability to compete on price with more well-known brands.
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