Saudi Arabia’s GDP Tops $1 Trillion as Oil Prices Surge

Saudi Arabia announced this weekend that its gross domestic product had crossed the threshold of $1 trillion for the first time in its history, a milestone reached with the aid of high global oil prices and heavy government investment in tourism and entertainment.

Amin Nasser, the chairman and CEO of the state-run oil giant Saudi Aramco, speaks to journalists at the World Energy Congress in Abu Dhabi, United Arab Emirates, Tuesday, Sept. 10, 2019. Nasser told journalists Tuesday a planned initial public offering of a sliver of the oil company's worth would happen …

China Hosts WEF Bigwigs for ‘Summer Davos’

The World Economic Forum (WEF) convened the 14th Annual Meeting of the New Champions (AMNC) in Tianjin, China on Tuesday. The AMNC is billed as the “Summer Davos Forum,” a nod to the main WEF conclave held each January in Davos, Switzerland.

The Tianjin Radio and Television Tower is illuminated to celebrate the upcoming 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, on June 25, 2023 in Tianjin, China. The Summer Davos Forum will be held in Tianjin on June 27-29. (Photo by VCG/VCG via Getty …

Reports: China Plans Big Stimulus After Disappointing Post-Pandemic Reopening

Although Chinese Communist officials and regime media continue to insist the economy is fundamentally strong and merely experiencing a few bumps on the road to post-pandemic recovery, Beijing is reportedly “planning major steps” to revive a deeply ailing financial system, possibly including billions in fresh infrastructure spending and looser rules for property investment.

An advertisement for bank services outside a bank branch in Hong Kong, China, on Thursday, Aug. 4, 2022. Economists downgraded their forecasts for Hong Kong’s economy, predicting it could contract for the third time in four years, after data on Aug. 2 showed growth is being weighed down by Covid …