Overseas Headlines – March 8, 2022

United States:

U.S. Spies See Grim Global Outlook With Russia, China Top Foes

“China is developing one of the greatest nuclear weapons forces in history while Russia will exploit every opportunity to undermine the U.S. and its allies, according to the annual threat assessment by the Office of the Director of National Intelligence. In a stark, declassified 31-page document, the report released late Monday by the House Intelligence Committee says Iran will continue to threaten American interests as it seeks to erode U.S. influence in the Middle East. At the same time, North Korea is committed to expanding its nuclear arsenal and ballistic missile development, according to the assessment.”



U.K. Faces Biggest Income Squeeze Since the 1970s on Ukraine War

“U.K. households are facing the biggest fall in living standards for half a century as Russia’s invasion of Ukraine deepens the cost of living crisis, according to the Resolution Foundation. Soaring oil and gas prices triggered by the war could see inflation exceed 8% this spring, the research group said in a report published Tuesday. That will cause typical incomes to drop by 4% in real terms, or around 1,000 pounds ($1,300), in the coming financial year.”



China’s February Auto Sales Get Boost From New-Energy Vehicles

“China’s passenger vehicle sales rose 4.7% in February from a year earlier to 1.27 million units, helped by particularly strong growth from new-energy vehicles. Deliveries of NEVs soared about 180% to 272,000 units, led by Warren Buffet-backed BYD Co. Ltd., which shipped 87,473 hybrid and pure-electric vehicles in February. U.S. electric car pioneer Tesla Inc. delivered 56,515 cars from its Shanghai factory — 23,200 for the domestic market and 33,315 for export.”



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