March 19 2016 image description
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Joseph Humire on President Obama’s trip to Cuba

Joseph Humire visits CCTV to discuss President Obama’s trip to the country.

March 15 2016 image description
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Feeling the China Effect Globally

One indicator of China’s ascent as a global power is its ability to have an economic impact far beyond its border. In today’s world, events in China, both positive and negative, are affecting nearly every continent.

During the period of China’s spectacular growth, world markets were particularly transfixed on Chinese trade, investment, and loans. China continues to contribute about 30 percent to global economic growth, down from a 50 percent contribution between 2009 and 2011. Its demand unleashed a commodities boom that benefited nations in Africa and Latin America. Growth at 10 percent and massive trade surpluses helped to ease the worst effects of the global recession of 2008-2009, with the United States and Europe borrowing Chinese cash to pay for their stimulus programs.

China’s economic slowdown, or more accurately, its shift from export and investment-driven development to consumption, has had an equally dramatic effect around the globe.  The world is starting to feel this shift as countries that became overly dependent on the Chinese demand for commodities are feeling the pain.