Within the political sphere, legislative activity in the United States is stopped after the impeachment of the president of the House of Representatives.
From an economic perspective, enterprise technology leaders must be prepared to adapt their technological supply chains and cybersecurity measures in consideration of the global geopolitical situation. In the United States, the unemployment rate remains low even amid economic challenges.
In the business world, BYD is racing to position itself as the leader in the electric vehicle industry. In turn, millions of call center jobs may become obsolete.
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Policy
- Republican Kevin McCarthy was removed from his position as speaker of the House of Representatives after failing to resist a rebellion among far-right dissidents over the approval of a budget extension to avoid a partial government shutdown. This historic vote in the House marked the first time in history that its leader was removed. The legislative activity of the House of Representatives is at an impasse pending the election of a new president, since no clear candidates have yet been defined to occupy said position.
Economy
- The strained relationship between the United States and China poses especially significant challenges for certain companies, such as those in the hardware industry that rely on supply chains in China or funds that have billions of dollars in investments in illiquid assets in China. Many businessmen are aware that there is a trend in Washington towards greater regulation and supervision in relation to any activity that involves transactions with China.
- In the last quarter, the United States economy faces significant challenges. However, layoffs are low even as the economy faces headwinds ranging from strikes, the resumption of student debt payments that will reduce consumer purchasing power, and high oil prices. Layoffs are higher than a year ago, but still below pre-pandemic levels. A labor market this strong right now, despite the risks, could remain quite strong next year.
Business
- Chinese company BYD, which stands for Build Your Dreams, is racing to become the No. 1 seller of electric vehicles in the world. It sold 431,603 all-electric cars in the third quarter, and is on track to sell approximately 1.8 million electric vehicles by the end of the year. This automaker aims to roughly double its export sales to 400,000 vehicles next year. Expansion beyond China is essential for the company as the Asian economy is slowing and overall passenger car sales have fallen.
- Call centers offer cheap overseas labor to handle routine corporate tasks for Western companies. However, artificial intelligence is rapidly transforming the customer service and call center landscape, raising concerns among developing economies about the potential challenges they may face. Now, chatbots can interact directly with customers without the need for human intervention. Businesses argue that technology can allow them to reduce burdensome customer service expenses while offering personalized service to their customers.
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