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Small Business Growth

China growth to slow next year despite boost from stimulus: World Bank [Video]

China’s economic growth rate is expected to decline further in 2025 despite a temporary boost from recent stimulus measures, according to the World Bank. 

The international lender estimated that China’s growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. 

The 2024 figure is up 0.3% from the bank’s forecast in April and comes after Beijing rolled out a recent raft of stimulus measures, boosting investor confidence and prompting a stock market rally, which has since fizzled.

However, despite the measures, which have mainly focused on monetary policy, the World Bank’s 2025 growth projection was unchanged from earlier projections.

Speaking to CNBC’s “Street Signs Asia” on Tuesday, Aaditya Mattoo, East Asia and Pacific chief economist at the World Bank, said the “fiscal dimension” of the stimulus measures remained undefined, complicating the projections.

“The question is whether [the stimulus] can actually offset consumer concerns about declining salaries, concerns about …

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Small Business Growth

Trump names Brendan Carr, senior GOP leader at FCC, to lead the agency [Video]

President-elect Donald Trump on Sunday named Brendan Carr, the senior Republican on the Federal Communications Commission, as the new chairman of the agency tasked with regulating broadcasting, telecommunications and broadband.Carr is a longtime member of the commission and served previously as the FCC's general counsel. He has been unanimously confirmed by the Senate three times and was nominated by both Trump and President Joe Biden to the commission.The FCC is an independent agency that is overseen by Congress, but Trump has suggested he wanted to bring it under tighter White House control, in part to use the agency to punish TV networks that cover him in a way he doesnt like.Carr has of late embraced Trump's ideas about social media and tech. Carr wrote a section devoted to the FCC in Project 2025, a sweeping blueprint for gutting the federal workforce and dismantling federal agencies in a second Trump administration produced by the conservative Heritage Foundation.Trump has claimed he doesnt know anything about Project 2025, but many of its themes have aligned with his statements.Carr said in a statement congratulating Trump on his win that he believed "the FCC will have an important role to play reining in Big Tech, ensuring that broadcasters operate in the public interest, and unleashing economic growth.Commissioner Carr is a warrior for Free Speech, and has fought against the regulatory Lawfare that has stifled Americans Freedoms, and held back our Economy, Trump said in a statement on Sunday. He will end the regulatory onslaught that has been crippling Americas Job Creators and Innovators, and ensure that the FCC delivers for rural America.The five-person commission has a 3-2 Democratic majority until next year, when Trump gets to appoint a new member.Carr has made appearances on Fox News Channel, including when he slammed Democratic Vice President Kamala Harris appearance on Saturday Night Live the weekend before the election charging that the network didnt offer equal time to Trump.Also a prolific writer of op-eds, Carr wrote in an opinion piece for The Wall Street Journal last month decrying an FCC decision to revoke a federal award for Elon Musks satellite service, Starlink. He said the move couldnt be explained "by any objective application of the facts, the law or sound policy.In my view, it amounted to nothing more than regulatory lawfare against one of the lefts top targets: Mr. Musk, Carr wrote.