We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
Hard Numbers: X’s neo-Nazi problem, China’s export extravaganza, America’s economic bounce, Oreo’s antitrust woes, Russia’s bumpy flights
Elon Musk, CEO of SpaceX and Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023.
5.3: China’s economy, the world’s second-largest, grew more than many experts expected, expanding by 5.3% compared to the same period last year. That beat analysts' predictions by 0.7 points. The boom was driven largely by huge investments in manufacturing for export – in particular solar panels, cars, and steel. Concerns remain about the persistent weakness of China’s property sector, but at this pace, China will comfortably hit its “around 5%” growth target.
2.7: Meanwhile, the world’s largest economy, the US, is projected to grow 2.7% this year, according to new IMF figures. That’s not quite on China’s level, but it’s still double the rate of any fellow members of the G7, a club of the world’s largest democratic economies. Coupled with China’s strong showing, the US economic boom has helped to stave off a global recession.
340 million: The company that owns Oreos is about to get dunked, it seems. An EU antitrust probe has found that Mondelez, the US-based company that also makes Toblerone bars and Cadbury chocolates, deliberately restricted the flow of its products between European countries in a bid to keep prices higher. The company has reportedly set aside €340 million ($360 million) for the coming fine.
20*: Flying in Russia is getting more dangerous but less fatal. Western sanctions on plane parts and servicing have caused a sharp rise in aircraft malfunctions, but Russia’s 20 air travel deaths in 2023 were still the lowest in a decade. The asterisk is for the late Yevgeny Prigozhin, of Wagner insurrection fame, who was killed along with nine others when his plane went down last August. Authorities say the possibility of foul play means the incident isn’t included as a conventional air travel death.