China Fails Economic Rebalancing
China's economic rebalancing has largely failed after nearly two decades of official pledges to shift growth from investment and exports toward domestic consumption
PROJECT SYNDICATE -Stephen S.
Roach, former Chairman of Morgan Stanley Asia and a faculty member at Yale University, argues that China's long-promised economic rebalancing has largely failed after nearly two decades of official pledges to shift growth from investment and exports toward domestic consumption.
Household spending remains an unusually small share of GDP, leaving Beijing increasingly dependent on the same investment- and export-led model that former Premier Wen Jiabao warned was unsustainable.
Roach contends that repeated promises to stimulate consumer demand have steadily lost credibility, raising doubts about China's long-term growth model at a time of slowing global trade, rising protectionism and persistent tensions with the United States.
Without a genuine expansion of household consumption, he warns, China risks becoming even more reliant on excess industrial capacity and exports, increasing both domestic economic vulnerabilities and trade frictions with the rest of the world.
BUSINESSWEEK -Liam Denning, the narrative centers on the challenges and experiences faced in navigating ice-laden waters, particularly in Finland.
Eero Lehtovaara of ABB Group discusses his expertise in operating in such conditions, recalling a vivid memory from 25 years ago when he witnessed the sea freeze while on watch for a ship traveling from the UK to Finland.
His account reflects the atmospheric changes encountered during freezing weather, emphasizing the complexities of icebreaking and shipbuilding advancements aimed at revitalizing American maritime capabilities.
The backdrop of this discussion is the pressing need for new icebreakers to enhance American shipbuilding, indicating a significant yet challenging endeavor.
The piece captures the technological and environmental dynamics involved in maritime navigation during winter.
SCIENCE -The European Union (EU) has a comprehensive risk assessment system for pesticides, yet these substances still harm the environment and pose health risks.
Regulatory delays hinder the introduction of new pesticides.
In response, the European Commission proposed an "Omnibus Simplification package" on 16 December 2025, aimed at streamlining pesticide marketing regulations.
However, implementing this package may exacerbate existing deficiencies in environmental risk assessments, undermining its objectives of protecting human and environmental health, as well as broader EU environmental goals.
The document outlines specific recommendations to enhance environmental risk assessments to better safeguard biodiversity while reducing regulatory burdens.
THE LANCET -Widespread concerns about statin-related muscle problems hinder their use in preventing cardiovascular disease (CVD).
This study identifies four prediction models for muscle-related adverse events associated with statin use, which mainly predict short-term risk.
Notably, one model forecasts risk over 1, 5, and 10 years, adjusted for competing mortality risks, offering a more accurate approach.
This model aims to help clinicians and patients understand the benefit-to-harm ratio of statin treatment by providing personalized risk assessments for serious muscle disorders.
Incorporating this model into clinical practice could address exaggerated fears about muscle adverse events and support informed treatment decisions.
Future research may explore the cost-effectiveness and clinical impact of implementing this model.
JIM CRAMER'S MAD MONEY -No Update WOMEN'S WEAR DAILY -As part of their ongoing collaboration, Italy's Camera Nazionale della Moda and France's Fédération de la Haute Couture et de la Mode renewed their memorandum of understanding during the France-Italy Summit in Cannes.
Originally signed in 2000 and renewed in 2005, this agreement emphasizes cooperation on Milan and Paris Fashion Week schedules, support for emerging designers, local know-how protection, and sustainability initiatives.
Key priorities include the preservation of artisanal skills, intellectual property protection, and nurturing the next generation of creative talent.
Both organizations stress the importance of unity against increasing international competition and emphasize the need for close cooperation to enhance the global competitiveness of European fashion and ensure its sustainable development.
The agreement also follows the recent launch of a shared ESG framework for fashion supply chains.
DIGITIMES - Qualcomm has introduced its newest AI data center platform, named Dragonfly, during its annual investor day.
The company emphasized a novel technology referred to as High Bandwidth Compute (HBC), positioning it as a strategic asset in its competition against industry leaders such as Nvidia, AMD, and emerging AI chip startups.
This advancement demonstrates Qualcomm's commitment to enhancing its AI capabilities and securing a significant foothold in the rapidly evolving landscape of AI hardware.
TECHCRUNCH Polymarket has confirmed that hackers stole funds from users following a third-party breach.
In a post on Thursday, the company indicated that the breach at a vendor enabled hackers to inject malicious code, affecting an unspecified number of users.
Polymarket stated that they have managed to contain the incident and are in the process of contacting those impacted to issue full refunds.
Details surrounding the breach remain vague as of Thursday afternoon.
Coinciding with Polymarket’s announcement, blockchain monitoring firm PeckShield reported a phishing campaign aimed at Polymarket users, alleging that about $3 million in cryptocurrency had been stolen.
A blockchain analyst corroborated this information, claiming that the theft affected more than 11 victims.
Notably, Polymarket facilitates payments to users in cryptocurrency.