Friday in Whitewater will be mostly cloudy with a high of thirty-seven. Sunrise is 7:04 AM and sunset 4:22 PM, for 9h 18m 17s of daytime. The moon is a waxing crescent with 9.3% of its visible disk illuminated.
On this day in 1961, Enos the chimpanzee orbits the Earth during the Mercury-Atlas 5 space flight.
Recommended for reading in full:
The International Consortium of Investigative Journalists describes the China Cables:
NEW: #ChinaCables is a leak of highly classified Chinese documents that expose the inner workings of mass detention camps in Xinjiang and reveal, in the government’s own words, how it manages the day-to-day internment and forced indoctrination of Uighurs. https://t.co/Veoj40IKqB pic.twitter.com/7RL8mEzKur
— ICIJ (@ICIJorg) November 24, 2019
Panos Mourdoukoutas writes China Is Heading For A Long Growth Recession, Not Because Of The Trade War:
Nowadays, China is still trying to build wealth, but it’s doing the wrong way… by pursuing investments that do not raise the country’s productive capacity and growth potential.
Like bridges and roads to nowhere; like factories that no longer produce competitive products. Like apartments where nobody lives.
“If a country spends billions of dollars on infrastructure projects, its GDP will rise,” says Beckley.“But if those projects consist of bridges to nowhere, the country’s stock of wealth will remain unchanged or even decline.”
Simply put, bridges to nowhere have a “multiplier effect.” They create several rounds of jobs and income while the building takes place. But these bridges have no “accelerator effect.” They don’t create any jobs and income once the building is over. They just waste the country’s precious resources, which could be used elsewhere.
That’s why bridges to nowhere undermine the country’s productivity and economic growth. “To accumulate wealth, a country needs to increase its productivity—a measure that has actually dropped in China over the last decade,” says Beckley. “Practically all of China’s GDP growth has resulted from the government’s pumping capital into the economy. Subtract government stimulus spending, some economists argue, and China’s economy may not be growing at all.”