China megacities ease homebuying rules to boost property market [Video]
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Small Business Lifestyle

China megacities ease homebuying rules to boost property market [Video]

Three Chinese megacities on Monday eased restrictions on buying homes and Beijing’s central bank said it would ask financial institutions to lower mortgage rates, as the country seeks to pull itself out of a housing slump.

The measures are the latest in a raft of pledges out of Beijing since last week aimed at kickstarting the world’s number two economy.

The teetering property sector has long accounted for around a quarter of gross domestic product and experienced dazzling growth for two decades.

But a years-long housing slump has become a major impediment to growth as the country’s leadership eyes a target of around five percent this year — an objective analysts say is optimistic given the many headwinds the economy faces.

Late on Sunday, three of the country’s biggest cities said they would make it easier for people to buy homes in measures that would come into effect on September …

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Elon Musk, Vivek Ramaswamy to lead new ‘Department of Government Efficiency’ [Video]
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Elon Musk, Vivek Ramaswamy to lead new 'Department of Government Efficiency' [Video]

President-elect Donald Trump on Tuesday said Elon Musk and former GOP presidential candidate Vivek Ramaswamy will lead a new Department of Government Efficiency" which is not, despite the name, a government agency.The acronym DOGE is a nod to Musk's favorite cryptocurrency, dogecoin. Trump said in a statement that Musk and Ramaswamy will work from outside the government to offer the White House advice and guidance and will partner with the Office of Management and Budget to drive large scale structural reform, and create an entrepreneurial approach to Government never seen before. He added that the move would shock government systems.It's not clear how the organization will operate. It could come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.Federal employees are generally required to disclose their assets and entanglements to ward off any potential conflicts of interest, and to divest significant holdings relating to their work. Because Musk and Ramaswamy would not be formal federal workers, they would not face those requirements or ethical limitations.Musk posted on X: Department of Government Efficiency. The merch will be (fire emojis). Later he added: Threat to democracy? Nope, threat to BUREAUCRACY!!!Musk has been a constant presence at Mar-a-Lago since Trump won the presidential election.The president-elect has often said he would give Musk a formal role overseeing a group akin to a blue-ribbon commission that would recommend ways to slash spending and make the federal government more efficient. Musk at one point suggested he could find more than $2 trillion in savings nearly a third of total annual government spending.Trump had made clear that Musk would likely not hold any kind of full-time position, given his other commitments.I dont think I can get him full-time because hes a little bit busy sending rockets up and all the things he does, Trump said at a rally in Michigan in September. He said the waste in this country is crazy. And were going to get Elon Musk to be our cost cutter.Ramaswamy suspended his campaign in January and threw his support behind Trump.Trump said in his statement the two will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."

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