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      Elecciones en República Dominicana: lo que hay que saber

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      El presidente Luis Abinader llega a las elecciones de este domingo como el claro favorito, impulsado por políticas migratorias nativistas, una economía fuerte y un esfuerzo anticorrupción.Este año, República Dominicana está deportando decenas de miles de personas de Haití, a pesar de las peticiones de las Naciones Unidas de que no lo hagan, mientras los migrantes huyen de una anarquía impulsada por bandas criminales. El presidente dominicano, Luis Abinader, está incluso aplicando medidas adicionales, como la construcción de un muro fronterizo entre las dos naciones que comparten la isla caribeña La Española.Los votantes dominicanos acudirán a las urnas este domingo para unas elecciones generales y las políticas migratorias severas, junto con un impulso anticorrupción y un crecimiento del turismo, han convertido a Abinader, quien busca un segundo mandato, en el claro favorito.Las elecciones dejan en evidencia cómo República Dominicana, con una de las economías más sólidas de América Latina, se diferencia de otros países de la región, donde muchos líderes que llegaron al poder en el mismo periodo que Abinader tienen índices de aprobación sombríos.El uso por parte de Abinader de restricciones polémicas contra los migrantes haitianos también deja en evidencia un enfoque de mano dura hacia la migración que convierte a República Dominicana en un escenario atípico en la región.“Estas sin duda no son unas elecciones de ‘cambio’, como lo han sido muchas otras en América Latina recientemente”, dijo Michael Shifter, miembro de Diálogo Interamericano, una organización de investigación con sede en Washington.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      In Meeting With Xi, E.U. Leader Takes Tough Line on Ukraine War

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      Ursula Von der Leyen, the European Commission president, pushed Beijing to help rein in Russia’s war in Ukraine after meeting with the Chinese and French leaders in Paris.Ursula von der Leyen, the European Commission president, put pressure Monday on China to help resolve the war in Ukraine, saying Beijing should “use all its influence on Russia to end its war of aggression against Ukraine.”She spoke after accompanying President Emmanuel Macron of France in a meeting with Xi Jinping, the Chinese president, who began his first visit to Europe in five years on Sunday. Ms. von der Leyen has persistently taken a stronger line toward China than has Mr. Macron.With President Vladimir V. Putin of Russia again suggesting he might be prepared to use nuclear weapons in the war in Ukraine, she said Mr. Xi had played “an important role in de-escalating Russia’s irresponsible nuclear threats.” She was confident, Ms. von der Leyen said, that Mr. Xi would “continue to do so against the backdrop of ongoing nuclear threats by Russia.”Whether her appeal would have any impact on Mr. Xi was unclear, and describing the conflict as Russia’s “war of aggression” in Ukraine seemed likely to irk the Chinese leader. Beijing has forged a “no limits” friendship with Russia and provided Moscow with critical support for its military effort, including jet fighter parts, microchips and other dual-use equipment.“More effort is needed to curtail delivery of dual-use goods to Russia that find their way to the battlefield,” Ms. von der Leyen said of China. “And given the existential nature of the threats stemming from this war for both Ukraine and Europe, this does affect E.U.-China relations.”It is relatively unusual for a top European official to describe the war in Ukraine as an “existential threat” to the European continent. Doing so may reflect Mr. Putin’s renewed talk of the use of nuclear weapons.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      I.M.F. Sees Steady Growth but Warns of Rising Protectionism

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      The International Monetary Fund offered an upbeat economic outlook but said that new trade barriers and escalating wars could worsen inflation.The global economy is approaching a soft landing after several years of geopolitical and economic turmoil, the International Monetary Fund said on Tuesday. But it warned that risks remain, including stubborn inflation, the threat of escalating global conflicts and rising protectionism.In its latest World Economic Outlook report, the I.M.F. projected global output to hold steady at 3.2 percent in 2024, unchanged from 2023. Although the pace of the expansion is tepid by historical standards, the I.M.F. said that global economic activity has been surprisingly resilient given that central banks aggressively raised interest rates to tame inflation and wars in Ukraine and the Middle East further disrupt supply chains.The forecasts came as policymakers from around the world began arriving in Washington for the spring meetings of the International Monetary Fund and the World Bank. The outlook is brighter from just a year ago, when the I.M.F. was warning of underlying “turbulence” and a multitude of risks.Although the world economy has proved to be durable over the last year, defying predictions of a recession, there are lingering concerns that price pressures have not been sufficiently contained and that new trade barriers will be erected amid anxiety over a recent surge of cheap Chinese exports.“Somewhat worryingly, progress toward inflation targets has somewhat stalled since the beginning of the year,” Pierre-Olivier Gourinchas, the I.M.F.’s chief economist, wrote in an essay that accompanied the report. “Oil prices have been rising recently in part due to geopolitical tensions and services inflation remains stubbornly high.”He added: “Further trade restrictions on Chinese exports could also push up goods inflation.”The gathering is taking place at a time of growing tension between the United States and China over a surge of Chinese green energy products, such as electric vehicles, lithium batteries and solar panels, that are flooding global markets. Treasury Secretary Janet L. Yellen returned last week from a trip to China, where she told her counterparts that Beijing’s industrial policy was harming American workers. She warned that the United States could pursue trade restrictions to protect investments in America’s solar and electric vehicle industries.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China’s First Quarter Results Show Growth Propelled by Its Factories

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      China’s big bet on manufacturing helped to counteract its housing slowdown in the first three months of the year, but other countries are worried about a flood of Chinese goods.The Chinese economy grew more than expected in the first three months of the year, new data shows, as China built more factories and exported huge amounts of goods to counter a severe real estate crisis and sluggish spending at home.To stimulate growth, China, the world’s second-largest economy, turned to a familiar tactic: investing heavily in its manufacturing sector, including a binge of new factories that have helped to propel sales around the world of solar panels, electric cars and other products. But China’s bet on exports has worried many foreign countries and companies. They fear that a flood of Chinese shipments to distant markets may undermine their manufacturing industries and lead to layoffs.On Tuesday, China’s National Bureau of Statistics said the economy grew 1.6 percent in the first quarter over the previous three months. When projected out for the entire year, the first-quarter data indicates that China’s economy was growing at an annual rate of about 6.6 percent.“The national economy made a good start,” said Sheng Laiyun, deputy director of the statistics bureau, while cautioning that “the foundation for stable and sound economic growth is not solid yet.”Retail sales increased at a modest pace of 4.7 percent compared with the first three months of last year, and were particularly weak in March. We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      U.K. to Cut Taxes Again as Election Nears

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      The Conservative government, trailing badly in the polls, proposed the second tax cut in four months.Amid lackluster prospects for economic growth, the British government announced it would cut taxes for workers ahead of a general election this year.Jeremy Hunt, Britain’s top financial official, told lawmakers on Wednesday that he would cut National Insurance, a payroll tax paid by workers and employers that funds state pensions and some benefits, by two percentage points. It would take the rate for about 27 million employees down to 8 percent, and follows a two percentage point cut announced less than four months ago. Together, the cuts would save the average employee about 900 pounds ($1,145) a year, Mr. Hunt said. The rate was also cut for self-employed workers.“We can now help families not just with temporary cost-of-living support but with permanent cuts in taxation,” Mr. Hunt, the chancellor of the Exchequer, said in Parliament. “We do this to give much needed help in challenging times. But also because Conservatives know lower tax means higher growth.”Mr. Hunt also announced a sweep of smaller measures, including freezing taxes on alcohol and fuel, proposals to increase productivity in the public sector, and abolishing the tax advantages for foreign earnings of British residents living abroad.The chancellor has been under political pressure from the governing Conservative Party to lower taxes ahead of the general election, which is expected to take place this year, though a date has not been set yet. The party is substantially lagging the opposition Labour Party in the polls.But Mr. Hunt’s ability to offer sweeteners to voters has been constrained by the fact that the British economy is growing slowly — if at all. Stretched public services need money and there are calls to invest more in infrastructure. The chancellor also has to meet his self-imposed budget rules, which gave him even less fiscal room to maneuver.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China Sets Economic Growth Target of About 5%

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      Premier Li Qiang targets growth of about 5 percent this year but signals continued reluctance to use deficit spending for economic stimulus.China’s top leaders on Tuesday set an ambitious target for economic growth but they signaled only modest stimulus measures, not the aggressive support for China’s domestic economy that many analysts believe is necessary to halt a steep slide in the housing market and ease consumer malaise and investor wariness.Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would seek economic growth of “around 5 percent.” That is the same target that China’s leadership set for last year, when official statistics ended up showing that the country’s gross domestic product grew 5.2 percent.The country’s program for state spending showed little change. Mr. Li said that the central government’s deficit would be set at 3 percent of economic output, but that the government was ready to issue another $140 billion worth of bonds to pay for unspecified projects of national importance. The more the government borrows, the more it can spend on initiatives that could boost the economy.China had also set the deficit at 3 percent early last year, before raising it in October to 3.8 percent when the government approved $140 billion in additional bonds to pay for disaster relief and prevention measures after severe summer flooding.Conspicuously missing from the premier’s agenda for this year was a move to shore up the country’s social safety net or introduce other policies, like vouchers or coupons, that would directly address Chinese consumers’ very weak confidence and unwillingness to spend money.“There’s a lot of positive noises for the economy, but not a lot of concrete proposals for how to resolve the country’s growth difficulties,” said Neil Thomas, a fellow at the Center for China Analysis of the Asia Society.

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      China consumer confidence index
      Source: China National Bureau of StatisticsBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Squeeze on British Businesses Is Not Letting Up Soon

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      Company insolvencies hit a three-decade high, with businesses under pressure from high debts, prices and interest rates. The Bank of England held rates steady on Thursday.Britain’s economy faces a bracing fact: The number of companies that folded last year was the highest in three decades.More than 25,000 companies registered as insolvent in 2023, the most since 1993, according to government data published this week. As pandemic-related support measures for businesses ended, the wreckage from years of high debt and interest rates, soaring prices and a cost-of-living crisis become clearer. Insolvencies have spread from small to larger businesses, analysts said.Businesses still dealing with relatively high costs, demands for higher wages, supply chain uncertainties and wavering consumer confidence are hoping for brighter economic times. Slower inflation, stronger growth and cuts to interest rates are expected to come this year, but not soon.On Thursday, the Bank of England held interest rates at 5.25 percent, the highest since 2008, and where they have remained since August, after rising from just above zero in a series of increases over a year and a half.Policymakers said inflation had declined, including wage growth and services inflation, but some measures of persistence remained “elevated.” Two members of the nine-person rate-setting committee voted for a quarter-point rate increase, while one voted for the first time to cut rates.There has been good news on inflation, “but we have to be more confident that inflation will fall all the way back to the 2 percent target and stay there,” Andrew Bailey, the governor of the bank, said on Thursday. “We are not yet at a point where we can lower interest rates.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Real Estate Giant China Evergrande Will Be Liquidated

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      After multiple delays and even a few faint glimmers of hope, a Hong Kong court has sounded the death knell for what was once China’s biggest real estate firm.Months after China Evergrande ran out of cash and defaulted in 2021, investors around the world scooped up the property developer’s discounted I.O.U.’s, betting that the Chinese government would eventually step in to bail it out.On Monday it became clear just how misguided that bet was. After two years in limbo, Evergrande was ordered by a court in Hong Kong to liquidate, a move that will set off a race by lawyers to find and grab anything belonging to Evergrande that can be sold.The order is also likely to send shock waves through financial markets that are already skittish about China’s economy.Evergrande is a real estate developer with more than $300 billion in debt, sitting in the middle of the world’s biggest housing crisis. There isn’t much left in its sprawling empire that is worth much. And even those assets may be off limits because property in China has become intertwined with politics.Evergrande, as well as other developers, overbuilt and over promised, taking money for apartments that had not been built and leaving hundreds of thousands of home buyers waiting on their apartments. Now that dozens of these companies have defaulted, the government is frantically trying to force them to finish the apartments, putting everyone in a difficult position because contractors and builders have not been paid for years.What happens next in the unwinding of Evergrande will test the belief long held by foreign investors that China will treat them fairly. The outcome could help spur or further tamp down the flow of money into Chinese markets when global confidence in China is already shaken.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More