What we’re reading (9/9)
“Xi Jinping Is Done With The Established World Order” (The Atlantic). “The world’s most powerful leaders gathered in New Delhi for the year’s premier diplomatic event—the G20 summit—but China’s Xi Jinping deemed it not worth his time. His absence sends a stark signal: China is done with the established world order. Ditching the summit marks a dramatic turn in China’s foreign policy. For the past several years, Xi has apparently sought to make China an alternative to the West. Now Xi is positioning his country as a full-on opponent—ready to align its own bloc against the United States, its partners, and the international institutions they support.”
“U.S., India, Saudi, EU Unveil A Massive Rail And Ports Deal On G20 Sidelines” (CNBC). “Global leaders announced a multinational rail and ports deal linking the Middle East and South Asia on Saturday on the sidelines of the G20 summit in New Delhi. The pact comes at a critical time as U.S. President Joe Biden seeks to counter China’s Belt and Road push on global infrastructure by pitching Washington as an alternative partner and investor for developing countries at the G20 grouping.”
“'The World Is Rapidly Evolving’: How Gen Z Is Rethinking The Idea Of College” (Insider). “Four million fewer teenagers enrolled at a college in 2022 than in 2012. For many, the price tag has simply grown too exorbitant to justify the cost. From 2010 to 2022, college tuition rose an average of 12% a year, while overall inflation only increased an average of 2.6% each year. Today it costs at least $104,108 on average to attend four years of public university — and $223,360 for a private university.”
“The Job Market Boom Is Over. Here’s Why And What It Means” (Wall Street Journal). “Overall job openings, a reflection of labor demand, peaked at 12 million in March 2022, about double the number of unemployed people looking for work the same month. That gap has since narrowed. Openings in July were much lower at 8.8 million compared with 5.8 million unemployed—showing easing but still elevated demand for labor.”
“How Safe Is Gold?” (Insider). “In short, the decision to invest in gold comes down to 1) the probability that an investor assigns to the prospect of international catastrophe and 2) the investor’s comfort level in ignoring that possibility. As an optimist, I find that an easy call: Forge ahead without it! However, I appreciate that others have different views. For them, a dollop of bullion may provide comfort worth its weight in...well, gold.”
