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Red carpet for "Minions: The Rise of Gru" in Los Angeles.
Hard Numbers: Minions censored, Qatar deports migrants, Hungarian fireworks get political, China waives African debt
2: Chinese censors have added a more uplifting ending to the latest Minions movie, Beijing’s second Hollywood rewrite this year. In the first edit, authority and order won over the terrorist plans of anarchists in the 1990s cult classic “Fight Club,” and now Gru — spoiler alert! — returns to his family instead of running off with his evil mentor, Wild Knuckles.
60: Qatar deported at least 60 migrant workers who protested outside a Doha construction company over back pay. Qatar has gotten flak for its alleged treatment of migrant workers as it prepares to host this year’s World Cup, but it’s unclear whether the migrants were involved in building the stadiums.
2: Hungary fired two of its national weather service’s leading staffers after a major holiday fireworks display in Budapest was postponed over forecasts of rain that never came. The ruling far-right Fidesz Party had billed the show to mark the country’s millennial as Europe’s biggest-ever — but the opposition saw it as a waste of money.
17: China, Africa's top bilateral creditor, will forgive no-interest debt owed by 17 African countries due last year. Beijing plans to cut lending to the continent by one-third until 2024 due to the high risk of default and political backlash over China's so-called "debt-trap diplomacy."
Think buying American will help ease inflation? Larry Summers says it won’t
Many Americans believe the best way to fight rising prices is to purchase US-made goods, in theory, less affected by COVID-fueled disruptions to global supply chains.
For former US treasury secretary Larry Summers, they're wrong.
"I think the right thing to do is to buy cheap and buy inexpensive."
When Americans decide to buy more expensive US-made products, he says that contributes to driving up prices even more, and to what he calls an "inflationary psychology" that only makes the problem worse.
Tariffs from the trade war with China, Summers clarifies, are indeed costing American jobs, but at the end of the day it's a negotiation — and playing hardball with the Chinese has definitely not helped with inflation.
Watch this clip from his interview with Ian Bremmer on the upcoming episode of GZERO World.
Subscribe to GZERO on YouTube to be the first to see new episodes of GZERO World with Ian Bremmer: https://bit.ly/2TxCVnY
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