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IMF Warns About Soaring Global Government Debt

2 weeks 5 days ago
The IMF has issued a stark warning over soaring global government debt, saying it is on track to exceed 100% of GDP by 2029. Semafor: Such a ratio would be the highest since 1948, when large economies were rebuilding post-war. Today, "there is little political appetite for belt-tightening," The Economist wrote: Rich nations are reluctant to raise taxes on their beleaguered electorates -- but they're facing pressure to spend more on defense, and on social services for aging populations. Higher long-term bond yields, meanwhile, suggest investor wariness over governments' balance sheets. In the short term, the debt concerns manifest in political disruption: France's budget fight recently toppled another government, while the US federal shutdown highlights the tension between new spending demands and deficit reduction.

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Trump's anti-sustainability agenda comes to Eurozone

2 weeks 5 days ago
ESG kicked like a 'toxic political football' amid greenwashing

canalys emea forum 2025  US President Donald Trump released a wrecking ball that smashed through environmental, social, and governance (ESG) policies stateside – and it's now swinging across the Atlantic, according to analysts.…

Paul Kunert

'China Has Overtaken America'

2 weeks 5 days ago
China now generates well over twice as much electricity as the United States. The country's economy has become substantially larger than America's in real terms, measured at purchasing power parity, economist Paul Krugman wrote this week. The Trump administration has moved aggressively against renewable energy development. It rolled back Biden's tax incentives for renewables through the One Big Beautiful Bill. The administration is attempting to stop a nearly completed offshore wind farm that could power hundreds of thousands of homes. It canceled $7 billion in grants for residential solar panels. A solar energy project that would have powered almost 2 million homes was killed. The administration canceled $8 billion in clean energy grants, mostly in Democratic states, and is reportedly planning to cancel tens of billions more. Energy Secretary Chris Wright said solar power is unreliable because "you have to have power when the sun goes behind a cloud and when the sun sets, which it does almost every night." California has already integrated substantial solar power into its grid through battery storage technology. Republican support for higher education has collapsed over the past decade, according to polling data. The administration has also targeted vaccines and research in multiple areas. Krugman argues that by 2028 America will have fallen so far behind China that it is unlikely to catch up.

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South Korea Abandons AI Textbooks After Four-Month Trial

2 weeks 5 days ago
South Korea's government has stripped AI-powered textbooks of their official status after a single semester of use. The textbooks were introduced in March for math, English, and computer science classes as a flagship initiative under former President Yoon Suk Yeol. Students and teachers complained about technical problems, factual inaccuracies, and increased workload. The government spent more than 1.2 trillion won ($850 million) on the program. Publishers invested around 800 billion won ($567 million). The textbooks were reclassified as supplementary material. Adoption rates dropped from 37% in the first semester to 19% in September. Only 2,095 schools now use them, about half the number from earlier in the year.

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