SCROLL NEWS / DISCOVERY
Search headlines
Find the stories shaping the conversation.
Results for " 110 " 3,623 found 🔀 AI-powered Shuffle
Are LLMs shifting the balance between ‘exploration and exploitation’ in research funding?
The meteoric rise of large-language AI is quietly altering if not effectively upending scientific inquiry. It’s been doing so almost since the technology’s public debut in late 2022. And medical research has been anything but exempt.
Alphabet's AI Story No Longer Runs Through The Business That Funds Everything Else
The advertising line management once pointed to for AI money has been speeding up, not slowing down.
Rossford business owners cheer roundabout project's completion
After two months of work, a new roundabout in downtown Rossford has officially opened. The $2.8 million roundabout at the State Rt. 65 (Dixie Highway), ...
Despite federal efforts to drop some children’s vaccine recommendations, Texas requirements unchanged
Public health officials said some parents are confused about what vaccines are required to attend Texas schools amid efforts to change recommendations.
Despite federal efforts to drop some children’s vaccine recommendations, Texas requirements unchanged
Public health officials said some parents are confused about what vaccines are required to attend Texas schools amid efforts to change recommendations.
Why GameStop’s bold $56-billion play for eBay is suddenly in doubt
(Bloomberg) -- GameStop Corp., led by Chief Executive Officer Ryan Cohen, is considering withdrawing its $56 billion bid for eBay Inc., according to people familiar with the matter.
Victor Wembanyama's Hall of Fame Hype Isn't Premature
Victor Wembanyama hasn't been in the NBA nearly long enough to warrant serious Hall of Fame discussions, but if he stays anywhere close to the same trajectory he's on, it's only a matter of time.
Is PENN Entertainment (PENN) A Bargain As Strong Q2 Earnings Lift Valuation Questions?
PENN Entertainment (PENN) drew fresh attention after reporting second quarter 2026 results that met Wall Street revenue expectations and delivered a significant earnings per share beat, with management highlighting strength in retail casinos and improving Interactive profitability. See our latest analysis for PENN Entertainment. Despite the strong Q2 result and recent shelf registration for an employee stock plan, PENN Entertainment’s share price is down 7.42% over the past month but up...
US small-business sentiment rises to 11-month high in July, labor shortages a worry
U.S. small-business sentiment increased to an 11-month high in July amid a surge in the share of owners reporting plans to boost hiring, suggesting that last month's slump in nonfarm payrolls was probably temporary.
PUMA pop-up store and autograph sessions in Europark
On Theaterplatz until WednesdayFrom now until Wednesday, PUMA will have its own pop-up store on Theaterplatz in Europark station. In addition to selected PUMA products, you'll also find our latest jer...
NCSOFT profit beats forecasts as Lineage W drives sales to record
Webtoon Entertainment Inc., South Korean online giant Naver Corp.'s online comics platform, is betting on gaming with its first developer acquisition to t
All-powerful Trump tells America, ‘Nothing bad can happen’
Just one of the wild actions and comments on Donald Trump’s manic Monday would rank among the most notorious things another president ever did.
Cowboys Sign All-Pro Defensive Tackle to Huge Deal
Midway through last season, Quinnen Williams was traded from the New York Jets to the Dallas Cowboys. He would go on to have a solid 7-game run with Dallas, recording 21 tackles and 1.5 sacks. His performance earned him a fourth straight Pro Bowl appearance. Now, Williams is cashing in with a ...
'A little grace': Kate Beckinsale pushes back on comments about her weight loss
Kate Beckinsale pushed back on comments about her weight, opening up about grief, loss and a health condition.
Harger: A Kent business lost $90,000 to copper wire theft. The accused got $113.40 at a recycler. The receipt was in his truck.
$113.40. That's what the copper was worth at the recycler. The business it came from has lost more than $90,000. Merry Christmas.
Are Madison's vintage shops Gen Z's new small-business boom?
These entrepreneurs in their 20s are selling old-school threads in physical stores, proving that online isn't the only way.
Will the Dome be deflated? Anchorage sports facility launches fundraising campaign.
The Dome has been the home of the state's largest indoor field for nearly 20 years. The facility's operators are asking for help funding the replacement of its exterior.
Monday’s AI business surges, but investors send shares down
AI ARR doubled from Q1 and accounted for 17% of net new ARR, but the company forecast conservative growth for the third quarter and did not raise its annual guidance.
Meet Top Content Creator Cat Grega, face behind 'Lady Business with Cat'
Cat Grega always wanted to create a women's group, but she never imagined it would have 60,000 members.
There’s life beyond Aussie super pace trio: Tony Dodemaide
Tony Dodemaide, who is managing Australia’s development squad that is currently training in Chennai, and is also part of the national selection group, explained that the tight international schedule leaves little room for a conventional warm-up fixture. Australia’s fourth Test against New Zealand is scheduled to finish on Jan 8, while the first Test of Border-Gavaskar Trophy is slated to begin on Jan 21.
Ball wants improvement as Torquay start with draw
Torquay United manager Jimmy Ball says his side's second-half performance cost them as they drew 1-1 with Horsham in their National League South opener.
Norris Consultant Group Launches New Credit-to-Capital Curriculum on The Wealth Blueprint Platform
ANDERSON, S.C., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Norris Consultant Group, the parent company and operating entity behind The Wealth Blueprint, today announced the launch of a new curriculum module on its educational platform, expanding the program's business credit and funding-readiness training for aspiring entrepreneurs. The new module went live in early August 2026 and is now available to members of The Wealth Blueprint community. Norris Consultant Group operates The Wealth Blueprint as its
Support local artisans at upcoming Native Business Market
The Native Business Market will feature native-owned small businesses, artisans, and service providers on Saturday, Aug. 15, at the Tigua Business Center parking lot.
Japan's executives call for FX stability as weak yen intensify import-cost pressure
Japanese executives are increasingly warning that currency swings and a persistently weak yen pose risks to the economy, highlighting concerns that triggered last week's joint Japan-U.S. intervention to support the currency.
Stockard Channing, 82, Opens up About Her Reclusive Life Nearly 50 Years After ‘Grease’
She's not in the spotlight anymore.
Will Kyle Whittingham's Michigan finish above Lincoln Riley's USC?
Kyle Whittingham and Lincoln Riley won't meet this year in the Big Ten, but people will be comparing the two coaches and their teams
Teddy Bridgewater stepping away from Lions. Is retirement imminent?
The veteran backup quarterback is stepping away from the Lions, head coach Dan Campbell announced. Here's why he's doing it.
Is Accel Entertainment (ACEL) A Bargain As Earnings Growth Lifts Valuation Hopes?
Accel Entertainment (ACEL) is attracting fresh attention after its 4 August 2026 earnings update, which showed higher sales, revenue and net income for both the quarter and first half compared with the prior year. See our latest analysis for Accel Entertainment. At a share price of $12.16, Accel Entertainment has posted a 6.95% year to date share price return and a 10.34% 1 year total shareholder return, which suggests moderate positive momentum heading into the latest earnings and capital...
‘You’re hit with a slam of shadow’: Nasa’s air mission to capture rare eclipse data
Two aviators will take off from Iceland to take pictures of the sun while flying at high altitude along solar eclipse’s path
IndyCar photos from Portland Grand Prix
The IndyCar Series at Portland International Raceway from Aug. 7-9, 2026.
Country music star says he is done with California: ‘It’s disheartening’
He made the revelation during a recent interview.
'There was magic in Ms. Levin': South Louisianans remember their favorite teachers
"I hope one day my students will remember me the way I will always remember her; as someone who believed in them and helped them believe in themselves."
Vladimir Guerrero Jr. Shares Concerning Injury Update After Phillies Game
Toronto Blue Jays first baseman Vladimir Guerrero Jr. made a concerning announcement after a game against the Philadelphia Phillies.
SEMRHI wraps up National Health Center Week with Wellness Day focused on eye care
SEMRHI wrapped up its celebration of National Health Center Week with a Senior Wellness Day at the Forrest County Campus of Pearl River Community College.
Lane Johnson Addresses His NFL Future After Return to Camp
Speaking to reporters ahead of Saturday's practice, Philadelphia Eagles offensive tackle Lane Johnson announced that the 2026 season will likely be his final year in the NFL. Johnson recently made his return to the team after missing four straight practices, dealing with a personal matter. Johnson said that as he is getting older, with his kids and parents aging, his priorities are changing.
Tigers vs Giants Highlights ⚾ MLB on FOX
Check out the best highlights between the Detroit Tigers and the San Francisco Giants.
Miami Dolphins quarterback Malik Willis talks to team before practice
Malik Willis talks to his offensive teammates at Hard Rock Stadium, asking if they are doing everything they can and doing the right thing.
The Atlanta Braves Have a Raisel Iglesias Problem
The Atlanta Braves have a problem regrading closer Raisel Iglesias' performance since July 1st.
What happens when progressives stop reproducing?
A research finding indicates that a significant demographic divide is emerging in America, where lower birth rates among progressive, highly educated populations contrast with the stable fertility …
Is lettuce safe to eat now? What to know amid cyclospora outbreak
State at the center of the cyclospora outbreak, Michigan, said residents can go back to eating lettuce as usual. Some food experts agree.
Predicting Georgia Bulldogs Record in 2026 Regular Season
The Georgia Bulldogs will try to get back to the College Football Playoff.
Can would-be buyer afford to take over more Chicago-area hospitals?
Insight Health Systems is in talks to take over West Suburban Medical Center and Weiss Memorial Hospital, which closed in the last year. But records show its Chicago hospital has money troubles.
Flutter Entertainment Q2 Earnings Call Highlights
Flutter Entertainment (NYSE:FLUT) reported second-quarter revenue growth of 3% as strong customer engagement around the FIFA World Cup and acquisitions helped offset customer-friendly U.S. sports results and higher taxes in the United Kingdom. The company also announced that Chief Executive Officer
Aston Villa closing in on €20m Matteo Ruggeri deal
The deal is not yet finalised, but Villa are close to agreeing personal terms with the Italian left-back.
Flutter Entertainment (FLUT) On Guidance Cuts And Losses Still Looks Undervalued
Guidance cut, net loss and delisting put Flutter Entertainment in focus Flutter Entertainment (NYSE:FLUT) is under close watch after a Q2 2026 net loss, a cut to full year revenue guidance and confirmation that its shares now trade only on the New York Stock Exchange. The shift in guidance reflects higher investment to build U.S. market share and the impact of specific sports results on revenue. These moves, together with the London delisting, are shaping how investors reassess Flutter...
PENN Entertainment (PENN) Stock Profit Rebound Faces Lingering Digital Doubts
PENN Entertainment stock barely moved on the results, edging up about 0.3% to US$20.18, even though the earnings story was anything but sleepy. Q2 flipped back into the black with basic earnings per share of US$0.25 and net income of US$33.1m. Retail casinos produced record quarterly revenue and adjusted earnings before interest, taxes, depreciation, amortization and rent that management highlighted on the call. The market reaction looks muted for now. The real question for investors is how...
Ian Garry Keeping Empty Frame On Wall For UFC Belt
Ian Machado Garry is as confident as he can be entering his matchup with pound-for-pound king and UFC welterweight champion, Islam Makhachev, next weekend at UFC 330, which is probably why the brash Irishman already has an empty frame hanging on his wall at home for the 170-pound belt. We’re just one week away from […]
Athletics Part Ways With Former General Manager
The Athletics have parted ways with former general manager David Forst after a season in which the team has struggled to win games.With a 45-70 record this season, the Athletics have been one of the biggest disappointments in all of MLB. Armed with a load of young, talented, and controllable players, things have seemingly fallen […] The post Athletics Part Ways With Former General Manager appeared first on HEAVY.
Colts CB Cam Taylor-Britt suspended 1 game for violating NFL's personal conduct policy, will sit out Week 1
Tackling prostate cancer and heart disease: Free Health screenings at Pro Football Hall of Fame
On Friday, fans and players who gathered at the Pro Football Hall of Fame in Canton found an opportunity to address both — not at a doctor's office, but outside the Hall itself.
Trump says Congress wants to regulate AI industry 'out of business'
U.S. President Donald Trump said the U.S. Congress wants to regulate the AI industry "out of business," according to a Punchbowl News interview published on Friday.
Second-year health careers opportunity program at SAU prepares next generation of health professionals | News
Southern Arkansas University hosted its second year of the Health Careers Opportunity Program (HCOP) Academy, an initiative funded by the Health Resources and Services Administration and coordinated…
Details on the 2026 Patriot Games are sparse. Here's everything we know
The 2026 Patriot Games are just days away. While details about the event have been hard to come by, here’s everything we know.
Lettuce brings the heat to the Englert
Lettuce continuously hones its improvisational skills, drawing inspiration from legends like the Grateful Dead and Miles Davis to authentically capture spontaneous musical moments live and in the studio.
GOP Sen. Lisa Murkowski says she will vote against Todd Blanche for AG, putting confirmation in jeopardy
Sen. Susan Collins, R-Maine, also said she will vote against Blanche’s nomination.
Flutter Entertainment (FLUT) Stock Faces Margin Squeeze Despite Steady Revenue
Flutter Entertainment walked into this earnings print with a stock that has quietly drifted lower over the past month, yet the immediate reaction has been almost flat. The share price edged only 0.1% higher to about US$93, even as the company reported a sharp squeeze in adjusted EBITDA and a group net loss in the quarter. The market mood looks numb rather than shocked. Traders appear focused on the profit hit from heavier U.S. marketing and higher taxes. The more patient question is whether...
High school sports tryouts and practices kick off Aug. 17
Our high school fall sports season will kick off on Monday, Aug. 17, with tryouts and practices beginning for high school football. Tryouts and practices for all other high school sports, including cheerleading, boys' soccer, girls' soccer, boys' cross country, girls' cross country, girls' tennis, girls' swimming and diving and volleyball, will begin on Monday, Aug. 24. Tryouts and practice schedules Tryout and practice schedules are available via the practice schedules button located on the fall sports page of our website. Please note that practice schedules are subject to change due to inclement weather or unanticipated circumstances. Registration information As a reminder, students and parents must fill out all required paperwork on Final Forms to participate in tryouts and practices. A physical conducted within the last 12 months is mandatory for any student interested in trying out for an athletic team and must be uploaded into Final Forms platform. Families are encouraged to get a completed physical from their child's physician. If you are unable to get a physical from your child's physician, you can schedule a free physical with Whitney Young's school-based health center by calling (518) 573-2556. Additionally, the district physician will also be available to facilitate sports physicals at Albany High in room 4253 on the following dates: Monday, Aug. 17 from 10:30 a.m.-3 p.m. Thursday, Aug. 20 from 10:30 a.m.-3 p.m. Sports physicals on Aug. 17 and 20 are free and no appointment is necessary. Academic Eligibility As a reminder, students must be in good academic standing to participate in athletics. Academic eligibility will start at the beginning of each academic year. Eligibility is determined based on quarterly grades, and interim progress reports will serve as an important academic checkpoint for all student‑athletes. For additional details about academic eligibility, please see our Athletic Code of Conduct. Falcons, we can't wait to see you soar this fall season!
IRS expands Business Tax Accounts
The Internal Revenue Service is giving organizations more ways to view digital notices, make payments, and access and manage federal tax account info online.
Entertainment this week: BIG BLUEgrass Benefit Concert, Concours d’Elegance and more
Friday, August 7 2027 Four Winns H2 Demo Day at North Lake Tahoe Boat Rental in Tahoe Vista – 9:30 a.m.-6:30 p.m., North Lake Tahoe Boat Rental, 7220 N Lake Blvd. Join Tahoe Boat Repair...
Britain clears $110 billion Paramount-Warner Bros. merger
The British government has cleared Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery, saying it had received assurances, after earlier citing concerns over the deal’s potential to limit media diversity.
Insmed Reports Second-Quarter 2026 Financial Results and Provides Business Update
—Total Company Revenues of $425.5 Million for the Second Quarter of 2026— —BRINSUPRI® (brensocatib) Revenues of $309.2 Million for the Second Quarter of 2026,...
Bengals safety Bryan Cook is embracing his leadership role
Cook is stepping into a leadership role on the Bengals’ defense.
New York City lawmaker accused of using government staff for political fundraising
The accusations, outlined in a formal whistleblower complaint, come as concerns about wrongdoing in New York City government remain heightened.
Kevin Gausman Reacts to Joining Cubs After Blue Jays Trade
Newly acquired Chicago Cubs starting pitcher Kevin Gausman made his first comments for the Cubs since his trade from the Toronto Blue Jays.The Cubs traded two prospects, outfielder Brett Bateman and infielder Ty Southisen, for the veteran SP Gausman, who is in the final season of his five-year, $110 million contract.With Chicago primed for a […] The post Kevin Gausman Reacts to Joining Cubs After Blue Jays Trade appeared first on HEAVY.
The Herald's weekly entertainment picks
Looking to be entertained from Thursday, Aug. 6, through Wednesday, Aug. 12? Check out the Skagit Valley Herald’s weekly recommendations.
‘Spectral lines’ and a giant plume: what science saw when the SpaceX rocket hit the moon
Sodium and lithium gas was detected in a plume thought to span tens of kilometres, created when part of a SpaceX rocket crashed into the lunar surface
Insmed Reports Second-Quarter 2026 Financial Results and Provides Business Update
—Total Company Revenues of $425.5 Million for the Second Quarter of 2026— —BRINSUPRI® (brensocatib) Revenues of $309.2 Million for the Second Quarter of 2026, Reflecting 49% Growth Over the...
NYS ranked near-dead last for affordable healthcare, elected officials try to fight it
House Democrats just added 12 'safe' Trump districts to their midterm election target list
The move brings the Democratic Congressional Campaign Committee's list of targets to 58, an ambitious list that reflects President Donald Trump's diminished standing with the electorate and Democrats' belief that they can capitalize on voters' frustrations.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. I am particularly pleased that it goes out for free to thousands of subscribers around the world. But, writing this newsletter takes a lot of work. If you are enjoying it and would like to support the project, sign up for one of the subscription options here. It is the equivalent of a fancy cup of coffee per month! Subscribe
Indiana football talks a big game, but Hoosiers won't play a big name
Indiana and Curt Cignetti don't \
Fruit flies and other health violations revealed in Ann Arbor
Washtenaw County health inspectors cited several Ann Arbor restaurants for food safety and cleanliness violations.
Vikings Training Camp Notes: 8/4 Edition
The Vikings held another training camp practice today, this one in shells. Overall it was a lighter practice- tomorrow’s practice is to be a longer, padded practice, so not as many things to report from this practice, but certainly some tidbids here and there. On the Quarterback Competition Other Notes That’s all I have for […]
Impact to N.Y. Head Start programs unclear amid anticipated federal overhaul
Early reports say the administration is planning to “gut its quality standards and replace it with regulations that would leave most of the specifics up to state and local law.”
Impact to N.Y. Head Start programs unclear amid anticipated federal overhaul
Early reports say the administration is planning to “gut its quality standards and replace it with regulations that would leave most of the specifics up to state and local law.”
Why AI giants’ political spending could balloon this fall
The fight over AI regulation, data centers and more will play a key role in the general elections.
Chipotle pulls jalapeños from some restaurants as health officials investigate salmonella outbreak
Chipotle Mexican Grill said Tuesday that it had removed jalapeños from some of its restaurants, after determining the peppers could potentially be tied to a salmonella outbreak that public health officials are investigating.
Series Preview: Mets at Guardians
The New York Mets come to town to face the new look Cleveland Guardians. The Mets are 47-66 with a -58 run differential, 27th in wRC+ at 92, and 15th in team ERA at 4.15 (4.00 FIP). The Guardians are 57-56 with a -16 run differential, 25th in wRC+ at 93 and eighth in team […]
📸 A Peruvian club unveils the year's most surprising shirt!
An impossible challenge and a great story!Jerseys with lots of sponsors are always tricky! The design often gets ruined by an overload of logos and text.For example, people still remember Chambly’s ...
Continental on Track to Reach Tires Business Outlook Despite Rising Costs
The German tire company said it is in the final stage of its strategic realignment and warned of a substantial increase in raw-material costs in the second half of the year.
Minot business leaders see economic opportunity with proposed pig iron plant
KMOT’s Joe Skurzewski met with business leaders in rural Minnesota to learn more about a proposed pig iron plant for Minot and its role in a renewed push for domestic steel production.
A single US measles outbreak can cost millions of dollars, study estimates
The overall cost of containing a 2025 measles outbreak in New Mexico was nearly $5.4 million, a new study estimates.
Flag football continues ‘remarkable’ growth, leading California high school sports’ increase in participation
Girls sports keyed another record-setting year for high school athletics, while football participation saw a significant drop on the boys side
Parents and politics: Moms of minor children now serve in all 50 state legislatures
Every state legislature now includes at least one lawmaker who is also the mother of a minor child, according to the Vote Mama Foundation.
Parents and politics: Moms of minor children now serve in all 50 state legislatures
Every state legislature now includes at least one lawmaker who is also the mother of a minor child, according to the Vote Mama Foundation.
Montclair State University Breaks Ground on $120 Million Science Building
The 110,000-square-foot facility will triple the university’s science lab space while adding state-of-the-art classrooms, research labs, and collaborative learning environments.
Jason McCourty gets a spot on Monday Night Countdown
The McCourtys are taking over prime-time NFL pregame shows.
Is PENN Entertainment (PENN) Undervalued Ahead Of June Quarter Earnings?
Why PENN Entertainment’s Upcoming Earnings Matter For Investors PENN Entertainment (PENN) is back on watch as investors prepare for its June quarter earnings report on August 6, with expectations centered on higher revenue and improved year over year earnings. This focus comes after a recent slide in the stock price and ongoing net losses, even as some investors argue current levels around $20.53 suggest potential undervaluation relative to perceived fair value. See our latest analysis for...
Tyson trims annual profit forecast as tight cattle supplies squeeze beef business
Tyson Foods cut its annual profit forecast on Monday, warning that losses in its beef business would widen as tight cattle supplies keep livestock costs elevated.
Sei Investments Co. Increases Holdings in Flutter Entertainment PLC $FLUT
Sei Investments Co. raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 28.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,851 shares of the company's stock after purchasing an
Edgestream Partners L.P. Buys Shares of 84,184 Caesars Entertainment, Inc. $CZR
Edgestream Partners L.P. bought a new stake in Caesars Entertainment, Inc. (NASDAQ:CZR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,184 shares of the company's sto
Buffalo Bills executive follows his father into Rochester sports history
Pete Guelli helped bring Buffalo Bills training camp to Rochester. Now the hometown executive shares a special honor with his dad.
UConn's Olivia Vukosa Showing Her Skills in International Play
The freshman center is leading the FIBA U18 EuroBasket tournament in scoring and rebounding.
Naji Marshall to remain trade-eligible despite extension with Mavs
Naji Marshall to remain trade-eligible despite extension with Mavs
Rupert Lowe urges Nigel Farage to work with Restore Britain
Lowe says the two should put ‘personalities and our past disagreements aside for good of the country’
Surprise Cowboys draft pick is popping at camp
Jaishawn Barham is having an excellent training camp so far.