Tuesday, February 27, 2024
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Primary Wave strikes deal with Village People for publishing, recorded music, name and likeness rights


Primary Wave Music has announced a partnership with Y.M.C.A hitmakers Village People.

The agreement covers the group’s brand, as well as name & likeness rights, plus master recordings and publishing assets. A price for the transaction has not been disclosed.

Founded in 1977, Village People have sold more than 100 million records worldwide.

Y.M.C.A has sold more than 12 million copies, and has racked up around 450 million plays on Spotify to date.

Village People’s second single, Macho Man, is also included in the deal with Primary Wave, in addition to multi-platinum hits like Go West and In The Navy.

Go West was covered by Pet Shop Boys in 1993 for a performance at an AIDS charity event and hit No.1 in several countries around the world including topping Billboard’s Dance Music/Club Play singles chart in the U.S.

In a joint statement, Jonathan and Anthony Belolo of Village People said about the Primary Wave deal: “As we were picking up the mantle following our father’s passing in 2019, we soon realized that – to achieve his dreams of bringing the Village People ideal into the 21st century the right way is a very bold endeavor.

“Our partnership with the amazing team at Primary Wave now brings us the backup and expertise that will ensure we can rise to the task together. With multiple projects in development, the future looks bright as ever for the Village People!”

Lexi Todd, Vice President, Business & Legal Affairs at Primary Wave Music, commented: “The Village People have brought so much joy to listeners around the world for decades. With disco-inspired music all over the contemporary charts, now is the perfect time to launch our new partnership. We look forward to working alongside Jonathan and Anthony to reinvigorate the Village People brand.”

The current Village People lineup is comprised of: Victor Willis (Cop/Admiral), Angel Morales (Native American), James Kwong (Construction Worker), Chad Freeman (Cowboy), James Lee (G.I.), and James J.J. Lippold (Leatherman).

Earlier this month, Primary Wave moved into Brazil via the acquisition of a 50% stake in Nas Nuvens Catalog (NNC). That transaction valued the Sao Paulo-headquartered company at around USD $100 million.

In January, Primary Wave announced a rights partnership deal with the estate of Stone Temple Pilots Singer Scott Weiland.

Primary Wave’s repertoire includes hits by icons such as Bob Marley, Prince, Stevie Nicks, James Brown, The Doors, Frankie Valli & the Four Seasons, Smokey Robinson, Whitney Houston, Ray Charles, Burt Bacharach, Bing Crosby, Luther Vandross, Olivia Newton-John, Isaac Hayes, Andre 3000, Steven Van Zandt, and Aerosmith.Music Business Worldwide

A Beginner’s Guide to Meditation


We all know life can be stressful—family, friends, pets, and work, can all be sources of stress. Developing a fitness routine to deal with stress can improve your life in many ways. Fitness itself is a self-care activity which promotes physical, mental, and emotional well-being. When considering how to integrate more fitness in your life, keep in mind that every workout shouldn’t leave you mopping up after yourself. Formats like yoga promote breath and movement in a more mindful environment than you won’t find on most gym floors or group classes. There’s also a meditative aspect of yoga that allows you to be more in touch with your mind and how your body feels in the moment, which can enhance your performance during harder workouts.

VASA offers a retreat from the busy gym floor in its STUDIO FLOW room. Each of the three class types (Flow, Deep Stretch, and Restore) offers a unique benefit, with Restore classes being the most mindful and meditative of the three. Getting into comfortable positions and promoting relaxation through the breathing cycle, Restore is the class that creates a present feeling with mind and body. Creating space in your day for you to notice your body, feel your breath, and remove the constraints of your thoughts can leave you feeling lighter and ready to take on the stress of the world outside of class.



If you don’t yet have access to STUDIO FLOW, you can still devote some time to yourself at any point in your day through meditation. Meditation has been shown to decrease stress levels, improve attention, increase sleep quality, and lower blood pressure in those who practice for just a few minutes daily. Life provides us with plenty of stress, so taking a few minutes to decompress can also improve your relationships with your friends and family and enhance your self-awareness.

If you haven’t tried meditation yet, follow these simple steps to get started:

  • Find a position that feels comfortable to you in a quiet space.
  • Set a timer; start with a short amount of time, and gradually build up as you become more comfortable with meditation.
  • Notice your body and how it feels in the comfortable position you started in.
  • Focus on your breath as you slowly inhale and exhale.
  • The mind will wander as you start to think about things other than your breath. When this happens, return your attention to your breath and try again. Don’t judge yourself or worry about where your mind wandered, just focus on your breath.
  • When your timer goes off, slowly return to your normal breathing as you begin to notice the sounds and sights of your environment again.
  • Take note of how your body feels, your thoughts, and your emotions in the moments immediately following your meditation session.

Whether you want to move your body or take a few quiet moments to yourself, there are no drawbacks to incorporating yoga or meditation into your daily routine. Try STUDIO FLOW or meditation (or both!) to experience for yourself the positive effect self-care can have on your life.


A trainer helping a male athlete stretch in a group yoga STUDIO Flow class in VASA Fitness

The post A Beginner’s Guide to Meditation appeared first on VASA Fitness.

Donald Trump: Judge in Trump fraud case would not back down


Arthur Engoron, a cabdriver-turned-judge who found Donald Trump liable for fraud, did not hold back in accusing the former U.S. president of trying to take him for a ride.

In ordering Trump and his family business to pay a $355 million penalty, Engoron displayed the wit, humor and disbelief he has often shown in more than three years overseeing the civil fraud case brought by New York Attorney General Letitia James against Trump, including a trial spanning three months.

“The English poet Alexander Pope first declared, ‘To err is human, to forgive is divine,'” Engoron wrote near the end of his 92-page, single-spaced decision.

“Defendants apparently are of a different mind,” the judge continued. “Their complete lack of contrition and remorse borders on pathological.”

James, an elected Democrat, sued Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others, saying they violated state law by overstating the value of Trump’s properties in order to inflate his net worth and obtain better loan and insurance terms.

Her case thrust Engoron, 74, into a spotlight he had never seen while driving a taxi in the 1960s to make some money while attending Columbia University, or since graduating in 1979 from New York University’s law school. Nor did it shine so brightly when he played the keyboard for what he has called a “moderately successful” bar band. A Democrat, Engoron has spent two decades on the bench. He was elected to the state Supreme Court in Manhattan in 2015.

Trump, the frontrunner for the Republican nomination to challenge Democratic President Joe Biden in the Nov. 5 U.S. election, and his entourage repeatedly tested Engoron’s patience and rulings before and throughout the trial.

Trump wrote on social media that Engoron is “DERANGED,” and he and his lawyers portrayed the judge’s principal clerk Allison Greenfield as biased. Trump even falsely called Greenfield the “girlfriend” of Democratic Senator Chuck Schumer.

Engoron fined Trump $15,000 for twice violating a gag order against deriding court staff.

There was no let-up in the days leading up to Jan. 11 closing arguments, as Trump’s lawyers beseeched Engoron to let Trump speak in court, a matter within the judge’s discretion.

Engoron said he would, provided that Trump stuck to the case and did not made a campaign speech or air grievances, and that if he verbally attacked court staff he would face a minimum $50,000 fine.

The former president’s lawyers resisted, and Engoron decided that Trump could not speak. But at the last moment, the lawyers asked again if he could, and Engoron asked Trump if he could follow the rules. Ultimately, Trump could not.

Trump insulted Engoron by telling him “you have your own agenda” and “can’t listen for more than one minute.” Trump also declared himself “an innocent man” and said he was the victim of “a fraud on me” by James.

“Control your client,” Engoron told Trump’s lawyer Christopher Kise.

Earlier that day, authorities responded to a fake bomb threat at Engoron’s home in New York’s Nassau County.

Engoron’s refusal to be cowed mirrored that of U.S. District Judge Lewis Kaplan, who in January oversaw the defamation trial held down the street in which the writer E. Jean Carroll won an $83.3 million jury verdict from Trump, which he plans to appeal.

Kaplan once warned Trump he could be thrown out of the courtroom for speaking loudly enough for jurors to hear, and on multiple occasions told his lawyers they could face consequences for making specious arguments or ignoring his orders.

Engoron, too, faulted Trump for his courtroom behavior, saying Trump’s refusal to answer questions directly and insistence on making irrelevant speeches while testifying “severely compromised his credibility.”

In Carroll’s case, the jury had the final word. In the case brought by James, where there was no jury, Engoron did:

“Defendants did not commit murder or arson. They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a ‘See no evil, hear no evil, speak no evil’ posture that the evidence belies.”

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Nvidia is too ‘frothy’ and its price will fall from unsustainable heights, analyst says


Justin Sullivan/Getty Images

  • Nvidia’s stock price is “frothy” and is at unsustainable highs, one analyst said.

  • The stock has a price-to-earnings ratio of 97, far more than all of its trillion-dollar peers.

  • The company’s chipmaker peers like Taiwan Semiconductors haven’t seen the same type of gains.

What goes up must come down — and Nvidia, which has been forging upwards in a seemingly unstoppable rally, has got to come down eventually, one analyst said.

“I think the price that it’s at right now is very, very, very hard to maintain,” Cleo Capital’s Sarah Kunst said in a CNBC interview. While other tech stocks have seen huge gains over the last few weeks, they’re “foamy,” but Nvidia is “frothy,” Kunst agreed with the interviewer.

The stock has a price-to-earnings ratio of 97, which essentially means investors are willing to pay 97 times the price for the reward that could be earned per share. That is far more than all of its trillion-dollar peers, Kunst said.

Nvidia has enjoyed an astronomical boom over the last few months, with a stock price that is up 224.64% in the past year, and a valuation that has relentlessly risen. Its shares have been boosted by the rapidly growing AI industry, which requires chips like those made by Nvidia, to the point that it has become the 3rd largest US company, behind only Microsoft and Apple.

But even if there’s a perfectly logical reason for why the stock is up, it still doesn’t explain the magnitude of Nvidia’s meteoric rise. After all, other semiconductor companies like Taiwan Semiconductors are doing much better on the fundamentals, Kunst said. And across the broader market, stocks are up — but not unsustainably high like Nvidia. The reason why, Kunst said, is optimism.

“The reality is right now that things are up,” she said. “There was so much cash sitting on the sidelines last year waiting for this big crashing downturn — that, knock on all of the wood, we have hopefully avoided. People want to put that cash back in.”

To be fair, the fact that a big name like Nvidia is soaring in a market that is, on balance, rallying, isn’t a bad thing, Kunst added.

“People right now are really looking for innovation,” she said. “We see everything — from the Novo Nordisk’s of the world to the Uber’s — we see them go up right now because that’s what people want to invest in.”

Read the original article on Business Insider

Japan loses its spot as world’s third-largest economy as it slips into recession


Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.

The country fell from the second-ranked economy behind the U.S. to the third-largest in 2010 as China’s economy grew. 

The International Monetary Fund had forecast Japan’s fall to fourth.

The comparisons among nations’ economies look at nominal GDP, which doesn’t reflect some different national conditions, and is in dollar terms. Japan’s nominal GDP totaled $4.2 trillion last year, or about 591 trillion yen. Germany’s, announced last month, was $4.4 trillion, or $4.5 trillion, depending on the currency conversion.

For the latest October-December quarter, the Japanese economy shrank at an annual rate of 0.4%, and minus 0.1% from the previous quarter, according to Cabinet Office data on real GDP. For the year, real GDP grew 1.9% from the previous year.

Real gross domestic product is a measure of the value of a nation’s products and services. The annual rate measures what would have happened if the quarterly rate lasted a year.

Both Japan and Germany built their economies through strong small and medium-size businesses with solid productivity. In contrast to Japan, Germany has shown a solid economic foundation on the back of a strong euro and inflation. The weak yen also works as a minus for Japan.

The latest data reflect the realities of a weakening Japan and will likely result in Japan’s commanding a lesser presence in the world, said Tetsuji Okazaki, professor of economics at the University of Tokyo.

“Several years ago, Japan boasted a powerful auto sector, for instance. But with the advent of electric vehicles, even that advantage is shaken,” he said.

The gap between developed countries and emerging nations is shrinking, with India certain to overtake Japan in nominal GDP in a few years, Okazaki said.

Wall Street ends sharply lower as hot inflation sparks sell-off


Wall Street’s main indexes ended sharply lower on Tuesday (February 13) after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher.

A Labor Department report showed U.S. consumer prices increased above forecasts in January amid a surge in the cost of shelter.

Markets have rallied this year on bets that the Fed would start trimming rates in May. The S&P 500 closed above 5,000 for the first time on Friday. The Dow is also trading near a record-high level, and on Monday the Nasdaq briefly surpassed its record closing high from November 2021.

After the release of the inflation data, bets by traders for a rate reduction in May of at least 25 basis points dropped to 36.1 per cent, from about 58 per cent before the data, while expectations for June stood at 74.3 per cent, the CME FedWatch tool showed.

Real estate consumer discretionary utilities ked losses among the 11 major S&P 500 sector indexes, with real estate falling to an over two-month low.

The small-cap Russell 2000 index also fell.

The latest data comes on the heels of a modest revision to inflation in the last quarter of 2023 that left investors briefly relieved on the trajectory of inflation.

Beamr jumps 800% on Nvidia collaboration


The share price of Israeli video optimization company Beamr Imaging rose 1,000% on Wall Street this evening after reporting a collaboration deal with chip giant Nvidia. Beamr’s share price rose 840% to $19.70, giving a market cap of $427 million. The company held its IPO about a year ago when it raised $7.8 million at a company valuation of $48 million.

Beamr, which was founded by CEO Sharon Carmel, provides video and broadcasting solutions for coding, conversion and video optimization, which allows high quality, performance and efficiency. The company’s customers are content producers, broadcast and Internet companies, streaming platforms and Hollywood studios.

Beamr today reported about that it will present its joint research on automated video modernization with Nvidia at the ACM Mile-High-Video 2024 conference, being held in Denver this week.

The research found that while video usage is growing at an exponential pace, most videos today are still based on a 20 year old format (AVC / H.264), that existed before smartphones, AI, 85″ screens and high-speed internet. The research presented will highlight the Beamr-Nvidia collaboration in facilitating the transition to AV1 adoption at scale. Beamr CTO, Tamar Shoham, who will present the research at the conference, explained: “Until today, adopting the upgraded video standard was a complex transition for two reasons – one, the new standard requires significantly more compute power and therefore comes at a very high cost; and two, the new standard requires a steep learning curve as it is difficult to figure out how much added compression can be applied without sacrificing video quality, which results in a lot of uncertainty during the process.”

He added, “Beamr technology powered by Nvidia’s encoder (NVENC) addresses these two challenges by using Nvidia’s hardware accelerated AV1 encoding with performance that is equal, and even superior, to previous formats. It is done at the same cost thanks to Nvidia’s focus on the adoption of the latest standards. We also made the conversion to modern formats, or ‘codecs’, such as AV1, fully automated, so that going from an AVC format to a smaller, more efficient AV1 format is seamless and does not introduce any quality degradation.”

In the first three quarters of 2023, Beamr’s revenue was $1.4 million compared with $1.2 million in the corresponding period of 2022. The company expects full year 2023 revenue to be similar to 2022, with accelerated growth in 2024.

Published by Globes, Israel business news – en.globes.co.il – on February 12, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Friday Faves 2.9 – The Fitnessista


Hi friends! Happy Friday! How was the week? I hope you had a great one! Ours was pretty low-key. The Pilot flew nights, the girls had all of their usual events and activities, and I’ve been here working on blog content, client calls, and podcast interviews. We have an event this weekend that I’m looking forward to, and I’m still looking for a dress. If you wait until the last minute, it only takes a minute. 😉

(My fave Sakara goji rose donut)

(Smiling with her lil teeth after her Valentine’s haircut)

Other than the event, I’m teaching barre, working on some fitness programming, and it’s movie night at the kids’ school.

It’s time for the weekly Friday Faves party! This is where I share some of my favorite finds from the week and around the web. I always love to hear about your faves, too, so please shout out something you’re loving in the comments section below.

Friday Faves 2.9


We went to the Annual Fighter Wing awards banquet in Phoenix and it was a blast as usual. It’s fun to see friends we haven’t caught up with in a long time and also celebrate some hardworking and inspiring squadron members.

It was hard to believe that this was the last time the Pilot will ever wear mess dress. This time next year, he’ll be RETIRED!! Tbh, I’m more than ready, but I can tell it’s going to be bittersweet for him. His military career has been a huge part of his identity for so long, and I know he’ll miss it.

I’m definitely looking forward to more stability and a return to the airlines, but I’ll definitely miss seeing him in his mess dress and flight suit. 🙂

(dress was from RTR. It wasn’t my fave dress I’ve ever rented, but all of my top picks were gone. It was ok for the occasion.)

Since we were in Phoenix, the kids requested a hike at Camelback. It’s probably their favorite hike, which doesn’t surprise me at all.

They climb and skip around while I fear for everyone’s lives. It’s a great time, I tell ya 😉

The first climb is extremely intense – you can hold onto guard rails because it’s so steep and high –

but after that, the intensity goes down a bit. It’s an incredible view, and the weather was perfection.

We also tried the Original Chop Shop for the first time, and it was SO, so good. I got the gf hummus and veggie wrap (added chicken) and we’ll definitely be back.

High Performance Health. This is going to be my first 2024 certification and I’m so excited to dive into this one. HPH is all about longevity and biohacking, so I’m excited to use this information for intermediate and advanced clients to make the most out of their routines, and get very strategic about daily habits. I’ll share more along the way! If you’d like to be my study buddy, you can check it out here and enter the code FITNESSISTA for $100 off.

Fashion + beauty:

New Beautycounter body butter. I’m waiting for mine to arrive and can’t wait to try it. I LOVE a body butter with clean ingredients – especially during these chilly winter months – and this is in the lovely Monoi scent. Check it out here. 

Ordering this dress for spring. It looks like a Nap Dress and is less than half the price!

Also adding this to cart. I love lounge sets so much right now.

Read, watch, listen:

Definitely check out this week’s podcast interview. We’re chatting all about seed oils.

 What are your simple pleasures?

Enjoying this audiobook right now. Lots of helpful tips and encouragement to shift more to investments.

Fitness + good eats:

You have to try these homemade peanut butter protein bars.

More reasons to practice self-compassion. 

Gf oat flour tahini chocolate chip cookies. 

Happy Friday, friends! Have an amazing weekend and I’ll see ya soon.



In Trump-Biden Rematch, the Only Sure Loser Is China


Trump vows massive tariffs that could shrink US-China trade to practically nothing — and Biden has new restrictions ready to roll before election day

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(Bloomberg) — Donald Trump’s China trade war frayed economic ties between the two global superpowers. His second-term plans risk cutting them entirely.

The former president is pitching a 60% tariff on all Chinese imports. That would shrink a $575 billion trade pipeline to practically nothing, Bloomberg Economics analysis shows. And it’s not the only escalation Trump has in mind if he converts a narrow poll lead over incumbent Joe Biden into victory in November.

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For China’s economy and its slumping stock market — down more than 40% from its 2021 high — that’s bad news. Worse, Trump’s rhetoric may add pressure on Biden to take harsher measures in the run-up to election day.

The president knows that China is on the ballot, and tough-on-China a proven vote winner. Biden may not be floating anything as drastic as Trump’s tariffs, and his administration has said it doesn’t want decoupling. But he has a raft of new restrictions on everything from data flows to electric vehicles to pick from, and doesn’t have to wait till Americans go to the polls before rolling them out.

Read More: Biden Looks Beyond Tariffs to Keep Chinese ‘Smart Cars’ Out of US

Whichever way you cut it, three months after Biden’s San Francisco summit with his Chinese counterpart Xi Jinping lowered the temperature, US elections mean the heat is on again. For investors, Trump’s latest proposals may trigger flashbacks to his first term — when trade policy announcements tweeted at all hours could whipsaw markets around the world.

In Beijing, officials say they have no clear preference on who takes power. While Trump is unpredictable and often aggressive, he also likes to strike deals and could undercut Biden’s efforts to work with US allies, according to Chinese officials who asked not to be identified speaking about sensitive topics.

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“They’re both a big threat,” said Sang Baichuan, a professor at the University of International Business and Economics in Beijing, and adviser to China’s Ministry of Commerce.

Trump’s America-first approach could create opportunities to “break through the anti-China economic circle,” Sang said, citing Biden’s ability to shut China out of technology supply chains. But either way, Beijing will face an American president whose overall strategy is “to exclude and contain China’s development.”

Read More: Trump’s Favorite Metric Has Biden Winning the US-China Trade War

Trump Tariff Shock

Responding to a question about his 60% tariff plan last week, Trump said the goal was to “bring business back to the US.” The 25% tariffs in his first term already put a hole in the revenue that China’s exporters earn from American markets. Tariffs at 60% would turn the hole into a crater. Using a model of the global economy, Bloomberg Economics estimates it would slash the share of US imports that come from China — which peaked at about 22% before the trade war started — down to near-zero.

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The biggest impact would fall on textiles and electronics, industries where China currently dominates and where thin profit margins make it impossible for factories to absorb the tariff impact. Bloomberg Economics’ model shows Southeast Asia and Mexico would pick up the largest share of the slack, as trade flows shift around geopolitical fault lines. US electronics firms would take a hit, since many of them manufacture in China. And American companies and consumers would end up paying higher prices for imports.

Tariffs might be the most eye-catching economic proposal from the Trump campaign, but they’re not the only one. The ex-president is hinting at new bans on US-China investment in both directions — an area where Biden’s already tightening the rules — promising to keep China out of America’s “essential industries” and ensure US cash isn’t driving China’s rise.

China is “taking our business at levels that nobody’s ever seen before,” Trump told reporters at his Mar-a-Lago estate in Palm Beach, Florida, on Thursday. On the second-term tariff plan he said: “By doing that we bring business back, manufacturing back to the United States.”

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Then he accused the Biden administration, which has kept his China curbs in place and added more, of letting American gains ebb away. “Now, they’re blowing it,” he said.

Read More: Trumponomics 2.0: What to Expect If Trump Wins the 2024 Election

Campaign promises, especially when their real-world impact would be this disruptive, don’t always translate into administration policy. Still, if there’s a lesson from Trump’s first term, it’s that his anti-China rhetoric tends to do just that.

For Xi, the prospect of intensifying economic conflict with the US comes at a bad time.

Beijing is already grappling with a property meltdown that’s turned the biggest growth driver into a major drag, and a stock market slide that’s erased $7 trillion in wealth. Xi’s economic planners have recently stepped up exchanges with US counterparts, with plans to welcome Treasury Secretary Janet Yellen to Beijing this year, in a bid to stabilize relations with its biggest export market.

Terminal readers: see Bloomberg Economics model of what’s driving China stocks at BECO MODELS → Drivers

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With Trump close to sewing up the Republican nomination, and running ahead of Biden in key swing states, investors are already bracing for impact.

Trump’s 60% tariff threat drove a selloff in China stocks from low-price retailers to solar panel makers. Goldman Sachs economists report that the implications of a Trump win are one of the things they are most frequently asked about by investors in Beijing and Shanghai.

Election Turns Up the Heat

Before any of this comes into play, there’s 2024 to get through. From Bill Clinton — who campaigned on a promise to hold the “butchers of Beijing” to account — to Trump, history suggests a US election year spells trouble ahead.

A Trump-Biden rematch will pit the president who started the trade war against the one who’s broadened its scope. Both men have a case that they’ve been tougher on China.

Tariffs were Trump’s weapon of choice early on, but as China policy hardened he expanded the arsenal. Executive orders attempted to ban superapp WeChat and viral video platform TikTok from operating in the US. A raft of export controls and sanctions took aim at Chinese firms,  with telecom equipment giant Huawei Technologies Co. the highest-profile target. Human rights violations in Xinjiang were classified as genocide.

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By the time Biden came into office, the bipartisan consensus was that China posed a fundamental threat. While Biden has restored diplomatic guardrails and a more civil tone, the substance of the relationship remains unblinking strategic rivalry.

On top of the tariffs, Biden has targeted China’s ability to compete at the cutting edge of technology. He imposed export curbs on semiconductors and chipmaking equipment — accompanied by measures to boost those industries at home —  and is setting up a screening program for US investment in areas like artificial intelligence and quantum computing.

A key difference is that Trump’s approach was more transactional — he sought a China trade deal timed to help his reelection campaign — and it often looked more like a solo effort. He sparred over trade with American allies as well as adversaries, and has plans for punitive measures targeting Europe in a second term.

By contrast, Biden has built a broader coalition for his policies, invoking a shared interest in preventing China from undermining the US-led world order. He’s been able to convince officials in The Hague and Tokyo to help squeeze China on semiconductor technology, limiting the China sales of key firms like Dutch chip machinery giant ASML Holdings NV.

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China’s alignment with Russia before and during the invasion of Ukraine helped strengthen the US argument. European allies, which till then saw China more as a market opportunity than a geopolitical threat, started to pay more attention to US warnings — including on the risk of an invasion of Taiwan.

Some aspects of the impact are measurable. Bloomberg Economics estimates that China’s exports to the US are $160 billion below where they would be if the Trump tariffs had never been imposed. Others, like the effect on confidence, are harder to capture.

The overall effect, though, is clear and negative, contributing to the slide in China’s growth and darkening the view in corporate board rooms and Wall Street trading floors.

Before America goes to the polls, China’s economy might come under more pressure.

Eight executive orders explicitly targeting China, and most of Trump’s export controls and sanctions, came in his last year in office — when he also closed the Chinese consulate in Houston. Trump’s election-year antagonism came after the onset of the pandemic, which he blamed on China: Shortly before Covid hit the US, he’d signed a trade deal with Beijing and talked up the relationship.

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Biden’s November meeting with Xi in San Francisco started with a warm handshake and ended with hopes for a partial thaw. Still, the Biden team has some pre-election moves lined up.

The administration is working on a final version of rules for US investors in China, with hawks pushing for tougher action. And it’s preparing to open a new front: data security. One measure, curbing transactions that involve sensitive personal data across a wide range of industries, could be announced as early as this week. Also in the works are restrictions on Chinese electric vehicles and other so-called “smart cars” because of the data risks they pose.

There’s talk of higher tariffs on EVs and clean-energy products, and on older-generation semiconductors. All of this could come before November’s vote, and poses a direct threat to the high-tech industries Xi is counting on to lift China’s economy out of the doldrums.

Asked about Biden’s approach to China ahead of elections, the White House referred to comments made by National Security Adviser Jake Sullivan late last month.

In that speech, Sullivan outlined economic steps the administration has taken with national security in mind, including investment and trade curbs on China. He said there are “competitive structural dynamics” in the US-China relationship, but added that the competition “does not have to lead to conflict, confrontation, or a new Cold War.”

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The View From Beijing 

China isn’t waiting to see what that means in practice. Xi is pouring money into manufacturing in a bid for technological breakthroughs that can make the nation self-sufficient. Huawei saw its revenue surge close to $100 billion last year as it released a smartphone with a sophisticated chip, which was celebrated across the nation as a victory over US restrictions.

Read More: Huawei’s Surprise Comeback Marks New Phase in the Tech Cold War

As for the Chinese public, Zhu Junwei — director of American research at Grandview Institution, a Beijing think tank, and a former researcher in the People’s Liberation Army — carried out an informal online survey to find out how they view the upcoming US vote.

About 60% preferred Trump, and the main reason may not have had much to do with how his China policies stacked up against Biden’s. Rather, Zhu suspects, people thought he might ease the pressure on China a different way — by bringing chaos to the US.


Bloomberg Economics models the impact of a 60% tariff using the WTO Global Trade Model (GTM), a dynamic and recursive model based on the GTAP Model (version 7) (Aguiar et al, 2019; Corong et al., 2017). Following the experience of the first Trump administration, we assume that 60% US tariffs on imports from China would be matched by retaliatory 60% Chinese tariffs on imports from the US.

—With assistance from Peter Martin, Yujing Liu, Rebecca Choong Wilkins, Gerard DiPippo, Colum Murphy, Nancy Cook, Phil Kuntz and Maeva Cousin.

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Money and ageing: The positive effects of cash grants


Nearly half of South Africa’s 60 million people receive social grants, ranging from child support to pensions. The grants are designed to provide financial assistance to people living in poverty.

The largest components of the South African social grant system were introduced, or expanded to include the full population, in the 1990s. Since then, the system has evolved into one of the most comprehensive in the global south.



In addition to their direct financial benefits, the grants have been found to have a wide range of positive effects. These include improvements in child nutrition and education, and increased participation of women in the labour force.

But the effects of social grants on the health of older adults have not been extensively explored. Until now.

Across a series of recent studies conducted as part of an extensive research project in a rural part of South Africa, we have established that social grants can help older South Africans protect their cognitive health and live longer. Cognitive health is the ability to clearly think, learn, and remember.

Using our collective expertise into cognitive and population health, we studied the health effects of three different cash transfer programmes in a sample of 5,059 adults 40 years and older in rural Mpumalanga province.

Our results consistently found strong and positive effects thanks to these programmes.

Older people will make up a much bigger portion of South Africa’s population over the next 20 years. Our results provide good news about a social intervention programme the country already has in place to promote health and well-being among older adults.

How we did the studies and what we learnt

The Agincourt Health and Demographic Surveillance System has been collecting data on more than 120,000 people living in 31 villages in north-east South Africa since 1992.

This rural campus of the University of the Witwatersrand was established to track and understand health and well-being in these rural environments.

The Agincourt project is also a platform for other studies to collect more detailed information on certain community members.

We used data from an experimental cash transfer trial within the larger Agincourt research platform that paid monthly cash transfers to households from 2011 through 2015 and compared them to control households with no payments. Just over 2,500 households originally enrolled in the trial. Monthly payments of R300 were split between a school-age female and her caregiver.

We also used data from Health and Aging in Africa: Longitudinal Studies in South Africa. This is a smaller Agincourt cohort of 5,059 men and women aged 40 and older with detailed information on memory function and dementia probability collected every three years from 2014/2015 through to 2021/2022.

We tested whether being in the group that received the cash transfers led to better cognitive health later in life, up to seven years after the trial concluded.

We found that people who received the cash were better off than those who did not. They had slower ageing-related memory decline and lower dementia probability in 2021/2022, the most recent wave of data collection.

For some groups, we also observed an impact on mortality. In those who were relatively better off at baseline with regard to education and wealth, the addition of the cash transfer led to significantly reduced risk of mortality.

In a second study we examined the impact of the older person’s grant, a public pension, on men’s later-life cognitive health.



From 2008 to 2010, the older person’s grant expanded its age eligibility for men from 65 to 60 years. This meant that men aged 60 through 64 at the time of expansion were newly eligible for between one and five “extra” years of pension income prior to turning 65.

Women had always become eligible at 60 years of age, so they were not included in this analysis.

We found that men who received the full five extra years of pension income eligibility had significantly better cognitive function than expected if the grant had not expanded its eligibility.

We also observed a “stair step” pattern, where cognitive function was progressively better for each extra year of pension eligibility.

In our final study, we examined the impact of the child support grant on women’s later-life cognitive health.

When the child support grant was introduced in 1998, it was available only for children under seven years old. Since then, a series of policy changes expanded the ages that children were eligible for the grant, eventually rising to age 18 in 2012. These expansions over time mean that two women with the same number of children could have had access to very different amounts of child support grant income, depending on when those children were born.

Consistent with what we found for the older person’s grant expansion, higher access to child support grant income was associated with higher later-life cognitive function for maternal beneficiaries of the grant.

Looking forward

Our results so far clearly point to the benefits of South Africa’s social grant programmes for older adults as they are currently structured.

They suggest that as South Africa ages in the upcoming decades, sustained investments in these programmes will pay off in better health and well-being of the country’s most vulnerable older adults.

Molly Rosenberg, Associate Professor of Epidemiology, Indiana University; Chodziwadziwa Whiteson Kabudula, Senior Researcher Rural Health in Transition and Agincourt Research Unit, University of the Witwatersrand; Kathleen Kahn, Professor: Health and Population Division, School of Public Health, University of the Witwatersrand, and Lindsay Kobayashi, Assistant Professor, Department of Epidemiology, University of Michigan, University of Michigan

This article is republished from The Conversation under a Creative Commons license. Read the original article.