Author: Reporter

Economic Stability: How the “Dollarization” of North Korea has become a potential threat to Kim’s rule

Before fleeing North Korea in 2014, Jeon Jae-hyun kept U.S. dollars as a store of value and used Chinese yuan to make everyday purchases at markets, restaurants, and other places. He used the domestic currency, the won, only occasionally. “There were not many places to use the won, and we actually had little faith in our currency,” Jeon said during a recent interview in Seoul. “Even the quality of North Korean bills was awful as they often ripped when we put them in our pockets.” North Korea has tolerated the widespread use of more stable foreign currencies like U.S....

Read More

Every Head Counts: How 2020 census data helps guide the allocation of $2.8T in annual Federal spending

The head count of every U.S. resident in 2020 helped guide the distribution of $2.8 trillion in annual federal spending, underscoring the importance of participating in the once-a-decade census, according to a new report released in June by the U.S. Census Bureau. There were 353 federal assistance programs that used the Census Bureau data in 2021 to steer the allocation of the federal funding, up from 316 programs accounting for $1.5 trillion in 2017 when a similar study was conducted, according to the report. The federal funding is distributed to state and local governments, nonprofits, businesses and households. In...

Read More

Americans cautioned to avoid mailing checks if possible due to dramatic escalation of check fraud

Check fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether. Banks issued roughly 680,000 reports of check fraud to the Financial Crimes Enforcement Network, also known as FinCEN, last year. That is up from 350,000 reports in 2021. Meanwhile the U.S. Postal Inspection Service reported roughly 300,000 complaints of mail theft in 2021, more than double the prior year’s total. Early in the pandemic, government relief checks became an attractive target for criminals....

Read More

Global Recovery: Why China needs domestic demand as its economic growth stumbles post-COVID

Sales of Yizhuan Automobile Co.’s trash trucks picked up after China ended anti-virus controls in December, but their growth is in low gear as managers struggle to rebuild business lost during the pandemic. China’s economy rebounded at the start of 2023, but after a good first quarter, factory output and consumer spending are weakening. An official survey in April found a record 1 in 5 young workers in cities were unemployed. Yizhuan’s sales are up only by single-digit percentages from last year’s depressed level, according to its deputy general manager, Yu Xiongli. The 300-employee company is in Hubei province,...

Read More

Government survey finds rate of adult cigarette smoking sinks to an all-time low

U.S. cigarette smoking dropped to another all-time low last year, with 1 in 9 adults saying they were current smokers, according to government survey data released in late April. Meanwhile, electronic cigarette use rose, to about 1 in 17 adults. The preliminary findings from the Centers for Disease Control and Prevention are based on survey responses from more than 27,000 adults. Cigarette smoking is a risk factor for lung cancer, heart disease and stroke, and it’s long been considered the leading cause of preventable death. In the mid-1960s, 42% of U.S. adults were smokers. The rate has been gradually...

Read More

CDC says first years of COVID-19 pandemic saw huge decline in high school students having sex

The first years of the pandemic saw a huge decline in high school students having sex, according to a government survey. Teen sex was already becoming less and less common before COVID-19. About three decades ago, more than half of teens said they’d had sex, according to a large government survey conducted every two years. By 2019, the share was 38%. In 2021, 30% of teens said they had ever had sex. That was the sharpest drop ever recorded by the survey. The Centers for Disease Control and Prevention at the end of April released reports analyzing the latest...

Read More