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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Consumer Sentiment Leaps, but High Inflation Limits Recovery, Dollar Maintains Gains

Cameron Murphy

Apr 15, 2022 10:44

Consumer confidence increased to 65.7 in April, up from 59.4 in March, above market forecasts.


The resurgence in confidence in the US economy is being hampered by rising consumer costs.


After the poll findings are released, the US dollar retains its gains, with the robust surge triggered by the dovish Fed. ECB.


Consumer confidence surprisingly improved in early April, but the improvement was limited as four decades of high inflation continued to erode family spending and real income, hurting confidence in personal finances and, to a lesser degree, the economy as a whole. The University of Michigan's consumer mood index improved to 65.7 at mid-month from 59.4 in February, according to preliminary figures. In a Bloomberg News survey, experts predicted that the number will fall to 59.


Inflation has been the major cause of concern for most Americans in recent months, as growing costs of living have harmed people's financial fortunes, leading to broad public anger and mistrust of some of the government's economic policies.


The economic circumstances indicator increased to 68.1 from 67.2, while the expectations index increased to 64.1 from 54.3, indicating that the labor market would grow and raise salaries. The one-year inflation forecast remained unchanged at 5.4 percent, while the five-year forecast remained unchanged at 3 percent.


The mood index remained stuck near crisis levels in April, but it's crucial to remember that individuals don't always behave how they feel, so low numbers don't automatically imply lower spending. This strange occurrence has lately been seen. For example, consumer confidence has been steadily declining since May of last year, but despite this, Americans have not tightened their purse strings; in fact, consumer spending has remained solid for the most of this time due to surplus savings and a healthy job market.


Nonetheless, given that household spending accounts for over 70% of US GDP, the low consumer mood is reason for worry. However, in comparison to economic realities, the excessive pessimism seems exaggerated, raising the issue of whether the country's great ideological division is contributing to the worsening mood. In any case, one thing is clear: certain soft data may have lost their predictive potential, thus they should be treated with caution when used to make broad predictions about the economy.


The US dollar, as measured by the DXY index, continued to rise after the University of Michigan poll was released, increasing nearly 0.7 percent to 100.1, its highest level since April 2020. However, rather than U.S. statistics, the uptick is connected to the ECB's dovish approach at its April monetary policy meeting.

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