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The Exchange - Aug 5, 2022

2022-08-05
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  • Nancy Pelosi Visits Taiwan | U.S. House of Representatives Speaker Nancy Pelosi traveled to Taiwan on Tuesday to reaffirm what she calls America’s commitment to Taiwan. The trip has been highly controversial, with China condemning the visit calling it a challenge to Chinese sovereignty. Experts in Washington fear that the visit will cause escalation in the Taiwan Straits.
  • China Criticizes 'Nuclear Sharing' At U.N. Nuclear Conference | At the latest Nuclear Non-Proliferation Treaty (NPT) Review Conference, Chinese diplomat Fu Cong issued opposition against Japan's idea of "nuclear sharing" and nuclear-powered submarine cooperation between the U.S., the UK, and Australia (AUKUS). U.S. Secretary of State Antony Blinken argued that the AUKUS submarines will not be nuclear-armed and comply with the highest standards under the NPT.
  • U.S. GDP Drops For A Second Quarter | The U.S. GDP fell 0.9% year-on-year in the second quarter after declining in the first one, hitting a rule-of-thumb threshold of a recession. However, the administration and the panel identifying recessions say that's not the case, citing the strong labor market. Despite the disagreement, Americans are anxious about the economic downturn and start preparing for it.


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