🪓 Has The US Decoupled From China?

Good morning. US stock futures rose in Tuesday morning trading as market indices enter bull market territory with the Dow soaring to record highs.

🤖 White House Advisor: China’s economic situation no threat to US

📝 Our report: China’s downbeat economic recovery isn’t rattling the cages of the US according to White House National Economic Council Director Lael Brainard. Brainard, delivering comments at an event hosted by the Brookings Institution said China's lackluster economic recovery has not had a particularly strong effect on the U.S. economy given diversification of supply chains over the past years  

 🔑 Key points:

• The world's second-largest economy grew 5.2% in 2023, reflecting feeble post-pandemic growth amid a deepening property crisis, weak consumer and business confidence, mounting local government debt and persistent deflationary risks.

• "The U.S. economy really has been diversifying over the last few years and you can see that in a variety of different data, and so for the U.S. economy.... the sort of more lackluster recovery in China has not been a particularly strong channel or effect on the U.S. economy," Brainard said.

• Companies listed in Hong Kong and China stock markets have been in a slump largely as a result of foreign outflows and a surge in short selling by investors betting against a creaking economy.

💡 So what: The US has weathered China's economic slowdown through diversified trade, domestic stimulus, its strong tech and service sectors, and adaptable monetary policy. However, supply chain disruptions, geopolitical tensions, and China's long-term challenges present ongoing hurdles. Ultimately, the US has faced the slowdown with a multifaceted approach, but the evolving situation and diverse perspectives demand continuous scrutiny.

 Tuesday - No Major Economic News

Wednesday - No Major Economic News.

Thursday - US GDP Q4

Friday - Personal Income, Personal Spending

 📖 These are the 12 best investing books for beginners

💳 Should you consider a consolidation loan?

💲Thinking about starting a business? These are the costs you need to know!

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🤖 Too early to worry about AI replacing humans, study finds

WHAT: Turns out, artificial intelligence is like a sidekick that's great for certain tasks, but it's not winning the superhero job just yet. In one of the first in-depth probes of the viability of AI displacing labor, researchers at MIT modeled the cost attractiveness of automating various tasks in the US, concentrating on jobs where computer vision was employed — for instance, teachers and property appraisers. They found only 23% of workers, measured in terms of dollar wages, could be effectively supplanted.

WHY: The adoption of AI across industries accelerated last year after OpenAI’s ChatGPT and other generative tools showed the technology’s potential. Tech firms from Microsoft and Alphabet in the US to Baidu and Alibaba in China rolled out new AI services and ramped up development plans — at a pace that some industry leaders cautioned was recklessly fast.

📱 Apple pays up in Russia

WHAT: Apple, the tech wizard of the West, has graciously handed over 1.2 billion roubles (or $13.65 million) to Russia, following what seems like a disagreement over in-app payments. According to Russia’s Federal Antimonopoly Service (FAS), the fine was imposed over the company's alleged abuse of its dominant market position concerning in-app payments.

WHY: Russia has been at loggerheads with foreign technology companies for several years, particularly over what Moscow deems unlawful content and a failure to store user data locally, in simmering disputes that intensified after Russia dispatched troops to Ukraine in February 2022.

💰 Crypto firm seeks bankruptcy protection

WHAT: Terraform Labs, the crypto company that once left investors in disarray with a cryptocurrency collapse, has decided to try its hand at Chapter 11 bankruptcy protection. The Singapore crypto firm filed for protection in U.S. bankruptcy court in Delaware, according to court documents. Terraform listed both its estimated assets and liabilities in the $100 million to $500 million range.

WHY: Terraform's legal troubles boiled over following the May 2022 implosion of digital currencies TerraUSD and Luna. Terraform Labs founder Do Kwon was arrested in Montenegro last year and sentenced to four months in prison for using forged documents while attempting to fly to Dubai using fake Costa Rican passports.

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