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Could This Be a Second Cultural Revolution? New Economy Saturday – Bloomberg

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It’s no coincidence that an edict barring kids in China from playing online video games for most of the week came as the education ministry introduced a new subject to the national curriculum: Xi Jinping Thought.

As the academic year gets underway, students from primary schools through colleges and university are immersed in lessons from “Grandpa Xi.” The message could hardly be clearer: the Chinese Party-state wants to mold young minds with correct ideology, not distract them with online fantasies. To underscore that point, authorities are cracking down on “fan culture.” All mention of Zhao Wei, a billionaire actress, has been scrubbed from the internet.

Is this a new Cultural Revolution?

What began as a regulatory takedown of Jack Ma, the flamboyant Alibaba co-founder, quickly grew to an assault on tech platforms–including those, like Tencent, that offer online gaming.

Now, as the campaign picks up speed, it’s adopting some of the iconography of the Maoist era. Along with the cult of personality, the effort is building a militant commitment to “struggle” against domestic and foreign enemies along with a “rectification” campaign to instill socialist values and combat decadence.

Authorities are also challenging the extravagant pay common in the entertainment world. And in a more sinister vein, they’ve called for a boycott of what the government has described as effeminate male celebrities.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

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OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

The Canadian Press. All rights reserved.

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Economy

How will the U.S. election impact the Canadian economy? – BNN Bloomberg

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How will the U.S. election impact the Canadian economy?  BNN Bloomberg

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Economy

Trump and Musk promise economic 'hardship' — and voters are noticing – MSNBC

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Trump and Musk promise economic ‘hardship’ — and voters are noticing  MSNBC

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