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Bobbyrendy

26 Jul 2025 - 04:49 pm

The levies are also likely to reduce America’s economic output, as has happened before. A 2020 study, based on data from 151 countries, including the US, between 1963-2014, found that tariffs have “persistent adverse effects on the size of the pie,” or the gross domestic product of the country imposing them.
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There are a number of possible explanations for this.

One is that, when tariffs are low or non-existent, the country in question can focus on the kind of economic activities where it has an edge and export those goods and services, Gimber told CNN.
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“If you raise tariffs, you’re not going to see that same level of specialization,” he said, noting that the result would be lower labor productivity. “The labor could be better used elsewhere in the economy, in areas where you have a greater competitive advantage.”
Another reason output falls when tariffs are raised lies in the higher cost of imported inputs, wrote the authors of the 2020 study, most of them International Monetary Fund economists.

Fatas at INSEAD suggested the same reason, providing an example: “So I’m a worker and work in a factory. To produce what we produce we need to import microchips from Taiwan. Those things are more expensive. Together, me and the company, we create less value per hour worked.”

Yet another way tariff hikes can hurt the economy is by disrupting the status quo and fueling uncertainty over the future levels of import taxes. That lack of clarity is particularly acute this year, given the erratic nature of Trump’s trade policy.

Surveys by the National Federation of Independent Business in the US suggest the uncertainty is already weighing on American companies’ willingness to invest. The share of small businesses planning a capital outlay within the next six months hit its lowest level in April since at least April 2020, when Covid was sweeping the globe.

“The economy will continue to stumble along until the major sources of uncertainty (including over tariffs) are resolved. It’s hard to steer a ship in the fog,” the federation said.

Whichever forces may be at work, the IMF, to cite just one example, thinks higher US tariffs will lower the country’s productivity and output.

Coreyglica

25 Jul 2025 - 09:45 pm

Indian and Chinese travelers hail end of visa freeze between world’s two most populous nations as diplomatic tensions thaw
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They are the two most populous countries in the world and neighbors clamoring for more tourists, but for much of the last five years it has been difficult for Indian and Chinese nationals to vacation in each other’s nations.

Now that looks set to finally change as previous fractious relations between the two Asian giants finally begin to thaw.
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India will issue tourist visas for Chinese citizens for the first time in five years, allowing nationals from its neighboring country to freely visit each other, marking a significant reset in relations after a deadly border clash sent ties into a deep freeze.

From Thursday, July 24, Chinese citizens can apply for tourist visas to India, the Indian embassy in Beijing said Wednesday.

This “positive news” is in the “common interests of all parties,” China’s foreign spokesperson Guo Jiakun said. “China is willing to maintain communication and consultation with India to continuously improve the level of facilitation of personnel exchanges between the two countries.”

There has been a gradual normalization of ties between India and China in recent months after relations were deeply strained in June 2020, when a brutal hand-to-hand battle in the Galwan Valley left at least 20 Indian and four Chinese soldiers dead.

Both nations maintain a heavy military presence along their 2,100-mile (3,379-kilometer) de facto border, known as the Line of Actual Control (LAC) – a boundary that remains undefined and has been a persistent source of friction since their bloody 1962 war.

The 2020 clash in the disputed region between Indian Ladakh and Chinese-controlled Aksai Chin marked the first deadly confrontation along India and China’s disputed border in more than 40 years.

Davidrob

24 Jul 2025 - 04:46 pm

Solar and batteries could help Egypt beat its blackouts
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Egypt’s first large-scale hybrid solar and battery plant has begun construction as the country looks to its abundant sunshine to help fix its energy crisis.

Obelisk, located in Nagaa Hammadi, will combine 1.1 gigawatts of solar production with 200 megawatt hours of battery storage. The $590 million project is being built by Scatec, a Norwegian renewable energy company mostly working in emerging markets.

Scatec already has four other renewable projects in Egypt, and the north African country is aiming to increase its share of renewable production from 13% in 2023, to 42% by 2030.
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Around three quarters of Egypt’s electricity comes from gas. But in recent years, as its domestic gas production fell, it became reliant on imports and rising gas prices plunged Egypt into a series of blackouts.

Renewable projects are becoming increasingly attractive to emerging economies, which tend to be hit the hardest by rising fuel prices, Terje Pilskog, CEO of Scatec told CNN. “With renewables, you are not dependent on importing fuels,” he said. “It is also about predictability.”

Sixty percent of the world’s best land for solar development is in Africa, according to the industry body Global Solar Council, but in 2023, only 3% of the continent’s energy came from solar. In 2024, 75% of all new solar projects were built in South Africa or Egypt, however 18 countries across Africa have the potential to install more than 100 MW solar projects in 2025, compared to two in 2024. The continent is aiming to reach 300 GW of solar capacity by 2030, which is more than the current capacity of the US.

Although Egypt is looking for new domestic gas resources, it has set ambitious renewable energy targets, and hosted the COP27 climate conference in 2022. But the driving force behind these new renewable projects is economic, not environmental, said Karim Elgendy, executive director of Carboun Institute, an energy and climate think tank for the Middle East and North Africa.

With an overreliance on gas, and with declining production from its flagship Zohr gas field, Egypt is struggling to keep the lights on.

Egypt issued a tender to import nearly two million tons of fuel oil in May and June to meet its electricity needs as gas imports became too expensive. The summer brings high demand, as air conditioning units are turned on to combat the intense heat – average highs can reach 42 Celsius (108 Fahrenheit) in the south. Prime Minister Mostafa Madbouly recently urged people to curb their energy usage to avoid blackouts.

Jamesheink

23 Jul 2025 - 10:44 am

You can walk between the Louvre and the Guggenheim in this new art district
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Right now, if you’d like to visit the Louvre and the Guggenheim in one day, you’d need to cross international borders.

But with Abu Dhabi’s long-awaited cultural district on Saadiyat Island nearing completion, by the end of the year, you’ll be able to walk between them.

The new cultural district will feature international outposts of the world-famous Louvre and Guggenheim museums, along with other institutions, including an immersive digital art space from teamLab and a natural history museum.

“Many places around the world have fantastic cultural institutions; many of them are much older than these. But I think the proximity of all of them is what makes this quite special,” says Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism in Abu Dhabi.
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The project is piloting a network of “cool paths,” which implement nature-based shading techniques, to allow visitors to navigate between the museums and cultural sites on foot, says Al Mubarak.

The multi-billion-dollar, 2.43 square kilometer museum complex is one of the largest cultural investments of its kind in the world, and its design — by “starchitects” like Jean Nouvel, Frank Gehry, and Norman Foster — is expected to be as much of an attraction as its artworks.
Dr Peter Magee, director of the Zayed National Museum, currently under construction, describes the district as “a constellation of stars” illuminating the region’s history, culture, and art.

The project broke ground in the mid-2000s and has not been without controversy. Human Rights Watch raised concerns about conditions for migrant workers, which were refuted by Abu Dhabi’s Tourism Development and Investment Company (TDIC), which was overseeing the project. Others have questioned whether the Unites Arab Emirates’ censorship laws are aligned with the values of the Louvre and Guggenheim.

But Abu Dhabi will be hoping the complex, which will have more than 1.7 million square feet of space across its five main institutions, will become a world-renowned tourist destination in the same way as Hong Kong’s 98-acre (40-hectare) West Kowloon Cultural District and Berlin’s 21-acre (8.6-hectare) “Museum Island.”

As several of the museums prepare to open later this year, take a look at what to do in Saadiyat Cultural District.
Abu Dhabi’s science-focused museum explores the 13.8-billion-year story of our universe, complete with a research center. When it opens later this year, the 35,000-square-meter (377,000-square-foot) museum will be the largest of its kind in the region.

Its star attraction is Stan, the world’s most complete Tyrannosaurus rex skeleton, which was purchased for $31.8 million in 2020. The 67-million-year-old fossil will be on display alongside the Murchison meteorite, which crash-landed in Australia in the 1960s and contains organic compounds never identified on Earth, as well as “pre-solar grains” formed before our own sun, and to date, the oldest material discovered on Earth.

Williamleare

23 Jul 2025 - 08:55 am

What happens when an octopus engages with art?
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When the Japanese artist Shimabuku was 31 years old, he took an octopus on a tour of Tokyo. After catching it from the sea with the help of a local fisherman in Akashi, a coastal city over 3 hours away from the Japanese capital by train, he transported the live creature in a temperature-controlled tank of seawater to show it the sights of Tokyo before returning it safely to its home the same day.
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“I thought it would be nice,” the artist, now 56, said about the experience, over a video call from his home in Naha, Japan. “I started to travel when I was 20 years old. But octopuses, maybe they don’t travel so much — and when they do, they are just going to be eaten. I wanted to take an octopus on a trip, but not to be eaten.”

Documenting it on video, Shimabuku took the octopus to see the Tokyo Tower, before visiting the Tsukiji fish market, where the animal “reacted very strongly” to seeing other octopuses on sale, the artist said. “Octopuses are smart — maybe he told his experience to his octopus friends in the sea (after returning).”

The interspecies day trip, resulting in the 2000 video work “Then, I Decided to Give a Tour of Tokyo to the Octopus from Akashi,” kickstarted a series of projects Shimabuku has undertaken over the decades that engage with octopuses in playful, inquisitive ways. A portion of this work is currently on show in the UK, in two exhibitions that explore humanity’s relationship with nature and animal life: “More than Human” at the Design Museum in London (through October 5) and “Sea Inside” at the Sainsbury Centre in Norwich (through October 26).
Fascinated by what the sea creatures might think, feel, or like, Shimabuku has documented their reactions to various experiences, from the city tour of Tokyo to being given specially crafted artworks. “They have a curiosity,” he said. “For some other animals, it’s only about eating and making love. But I think octopuses have time to wander — time for hobbies.”

When he lived in the Japanese city of Kobe, Shimabuku would go on fishing trips with local fisherman, taking the opportunity to learn about octopuses. “Traditionally we catch octopuses in empty ceramic pots — that’s my hometown custom,” he said. Fishermen would throw hundreds of pots into the sea, wait two days, then retrieve them — finding octopuses inside. “Octopuses like narrow spaces so they just come into it,” explained Shimabuku.

When he saw the animals within the pots, he discovered they were “carrying things”: shells, stones, even bits of broken beer bottles. He began to save the small objects the octopuses had gathered — “a collection of a collection,” he said.

Michaeltem

23 Jul 2025 - 04:23 am

The ‘Magic Solar Belt’
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Whilst Egypt’s summer heat increases its electricity demand, it could also offer a solution. The south of Egypt, where Scatec’s new project is breaking ground is “in the magic solar belt,” said Elgendy. According to the Global Solar Atlas, Egypt has the fourth-highest solar PV (photovoltaic) potential of any country.
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Historically, solar energy has been hampered by its intermittency — solar panels only work during the day and large-scale battery storage has been too expensive. However, falling battery prices, combined with the lower operational and installation costs of solar power means that projects that combine solar generation with battery storage, like Obelisk, could overcome this problem.

Because of its size and prime location, Obelisk, Elgendy said, “can demonstrate value for the rest of the region, for the rest of the world, that ‘solar plus batteries’ can take away this primary weakness.”
The cost of battery storage projects has dropped by 89% between 2010 and 2023, driven by growing production capacity, especially in China. This drop, Elgendy said, means that by 2027 solar plus battery plants will be “the cheapest form of (any kind of electricity) generation.” A report by the Global Solar Council said that the availability of energy storage is a “major driver for increased solar installations globally.” However, whilst global battery storage capacity hit 363 gigawatt hours (GWh) in 2024, Africa only has 1.6 GWh.

Whilst battery prices have dropped and solar is cheap to operate, these plants still need large investments to build, and the money can be hard to find, Elgendy said, adding that the “risk premium” of investing in the developing world means that these projects are more expensive to build in Africa. The continent attracted only 3% of global energy investments in 2024.

Obelisk will receive $479.1 million in funding from the European Bank for Reconstruction and Development, the African Development Bank, and British International Investment. The first 561 MW of solar power and the full battery capacity are due to be online in the first half of 2026, and reach the full 1.1 gigawatt capacity by the end of the year.

Anthonymut

23 Jul 2025 - 12:49 am

Emily Mazreku, director of marketing and communications at Breakthrough T1D, lives with type 1 diabetes and worked with Mattel to design the doll.
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Barbie’s phone app displays a snapshot of her actual blood sugar readings from one day during the design process. Barbie’s blood glucose reading is 130 milligrams of sugar per deciliter of blood, which is in the normal range. Most people with diabetes try to keep their blood sugar between 70 and 180 mg/dl.Her continuous glucose monitor has a graph that shows the highs and lows that can happen during the day. The blue polka dots are nods to the colors and symbols for diabetes awareness.
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Mazreku spent almost two years holding focus groups to get feedback about the features of the doll and to make sure it was representing the entire type 1 diabetes community.
“Mattel approached us, and they wanted this to be a part of their Fashionista line,” Mazreku said. “And we jumped on that opportunity right away.”

The line has dolls with more than 175 different looks, including a variety of skin tones, eye and hair colors. It includes a Barbie with behind-the-ear hearing aids, a blind doll who uses a cane and another with a prosthetic leg. There’s also a doll with vitiligo, a condition in which skin loses its pigment and becomes splotchy.

“We know that increasing the number of people who can see themselves in Barbie continues to resonate,” said Devin Duff, a spokesperson for Mattel, in an email to CNN.

The company said the blind Barbie and a doll with Down syndrome were among the most popular Fashionista dolls globally in 2024.
The company launched its first doll with a disability — a friend for Barbie called Share-a-smile Becky, who used a wheelchair — in 1997. Customers noted at the time that Becky’s wheelchair couldn’t fit through the doors of the Barbie Dream House, a situation many people with disabilities encounter in real life.

Rosariolew

22 Jul 2025 - 08:35 pm

The latest Barbie slays in a chic blue polka-dot crop top, ruffled miniskirt, chunky heels and an insulin pump. She is the brand’s first doll with type 1 diabetes.
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Dollmaker Mattel worked with Breakthrough T1D, formerly known the Juvenile Diabetes Research Foundation, to design the doll, which aims to represent the roughly 304,000 kids and teens living with type 1 diabetes in the United States.
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The doll launched Tuesday at the Breakthrough T1D Children’s Congress, a three-day event in Washington that brings in kids and teens living with the condition to meet with lawmakers. This year, they’re asking Congress to renew funding for the Special Diabetes Program, which was first allocated by Congress in 1997. The program’s current funding ends after September.

The advocacy efforts have taken on new urgency this year. With so many deep cuts to federally funded projects in recent months, Breakthrough T1D said it’s anxiously watching to see if this funding will be reupped.

Type 1 diabetes is an autoimmune disease, meaning the body mistakenly attacks its own organs and tissues. In this case, rough antibodies go after cells in the pancreas that make insulin, an essential hormone that helps the body turn food into energy. As a result, the body doesn’t make enough of its own insulin, so people have to take insulin by injection or though a pump to survive.

Type 1 diabetes is typically diagnosed in childhood but can be diagnosed in anyone at any age. It differs from type 2 diabetes, in which people are still able to make insulin but their cells stop responding to it.

In addition to the insulin pump that attaches to the new Barbie’s waist, the chestnut-haired beauty has a continuous glucose monitor on her arm – a button held on by a strip of heart-shaped Barbie-pink tape. Her cell phone displays an app that shows her glucose readings. She also has a light blue purse to hold her supplies and snacks to help her manage her blood sugar throughout the day. It matches her shoes, of course.

Barrykic

22 Jul 2025 - 05:16 pm

Job losses
But what about the impact of tariffs on job creation? Surprisingly, an increase in import taxes has been found to result in slightly more unemployment across countries.
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An example provided by Irwin at Dartmouth College points to one plausible explanation — and it has to do with the steeper cost of imported goods.

“A number of studies have shown, on net, we lost jobs from the (2018) steel tariffs rather than gained jobs because there are more people employed in the downstream user industries than in the steel industry itself,” he said.
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A study by the Federal Reserve Board found that a rise in input costs resulting from US tariff hikes in 2018-19 led to job losses in American manufacturing. The damage from those higher expenses was compounded by retaliatory taxes on US exports, more than offsetting a small boost to manufacturing employment from US tariffs — at least so far, the 2024 paper said.

Retaliation by other countries is indeed another danger of pulling the tariff lever. Higher tariffs on American exports would typically raise their prices for foreign consumers, hitting demand for the goods in many cases.

When Trump announced new tariffs this year, America’s major trading partners were quick to strike back with their own levies, although the US then agreed a temporary truce with China and the European Union.

Costs of free trade
While economists generally agree that free trade has benefited the global economy in recent decades, they acknowledge that it comes with certain costs.

One is the loss of jobs in communities that are particularly exposed to new competition from foreign manufacturers.

That is similar to the impact of technological progress on workers. “Manufacturing jobs as a share of the labor force have come down everywhere. It isn’t a US-specific story,” said Gimber at JPMorgan Asset Management, pointing to automation.

He drew a parallel between helping workers affected by higher imports and what is known as a just transition — the idea that the drastic changes needed to move toward a greener economy should be fair to everyone and minimize harm to workers and communities.

In both cases, providing workers in impacted industries with new skills or retraining them could be key, Gimber said.

Another potential cost of free trade is dependency on far-flung manufacturers. That took on new relevance during the pandemic, which snarled global supply chains, contributing to shortages of products such as face masks and respirators in the US and elsewhere.

However, economists do not typically see tariffs as a good way to build up domestic manufacturing, Fatas at INSEAD said, noting that subsidies for specific industries are viewed as a better tool “because they work more directly.”

But perhaps the strongest argument in favor of free trade is its importance to maintaining peace between nations.

As Gimber’s colleague David Kelly noted in March, closer trade relations give countries more to lose in any conflict.

Victorhaips

22 Jul 2025 - 04:32 pm

Rescuers are hailing as a “four-legged hero” a furry Chihuahua whose pacing atop an Alpine rock helped a helicopter crew find its owner, who had fallen into a crevasse on a Swiss glacier nearby.
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The man, who was not identified, was exploring the Fee Glacier in southern Switzerland on Friday when he broke through a snow bridge and fell nearly 8 meters (about 26 feet), according to Air Zermatt, a rescue, training and transport company.

Equipped with a walkie-talkie, the man connected with a person nearby who relayed the accident to emergency services. But the exact location was unknown. After about a half-hour search, the pacing pooch caught the eye of a rescue team member.
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As the crew zeroed on the Chihuahua, the hole the man fell into became more visible. Rescuers rappelled down, rescued the man and flew him and his canine companion to a hospital.

“Imagine if the dog wasn’t there,” Air Zermatt spokesman Bruno Kalbermatten said by phone. “I have no idea what would happen to this guy. I think he wouldn’t survive this fall into the crevasse.”

On its website, the company was effusive: “The dog is a four-legged hero who may have saved his master’s life in a life-threatening situation.”