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Economy

With A Little Help From Their Games, UK Out Of Recession

ONS, BBC NEWS (UK)

Worldcrunch

LONDON – Britain’s Office for National Statistics (ONS) reported Thursday that the UK economy has emerged from recession, helped by the Olympic Games.

In the three months from July to September, the country’s economy returned to growth at its fastest pace in five years, with its Gross Domestic Product (GDP) rising 1%, ending three consecutive quarters of declining output.

The Office for National Statistics said that Olympic ticket sales added 0.2 percentage points to the figures – as all Olympic and Paralympic ticket sales counted towards July to September's GDP figure. Though officials acknowledged the artificial boost of Olympic sales, the numbers were still far better than the 0.6% rise that analysts had forecast.

"There is still a long way to go, but these figures show we are on the right track," said Chancellor of the Exchequer George Osborne quoted by BBC News.

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Geopolitics

How Argentina Has Become China's Foothold In Latin America

China has become one of Argentina's most important trading partners and is increasing its military bases in the country. As China seeks to challenge the liberal world order, Argentina risks rifts with other key allies.

Photo of Alberto Fernández and  Xi Jinping

President of Argentina Alberto Fernández and Chinese leader Xi Jinping in November 2022

*Rubén M. Perina

-Analysis-

BUENOS AIRES — There was a media furore worldwide in February over the sighting and subsequent downing of mysterious Chinese balloons by the U.S. coastline. The unnerving affair naturally raised a question mark in countries beyond the United States.

Here in Argentina, currently run by a leftist administration with leanings toward Russia and China, we might pertinently wonder whether or not the secretive Chinese base set up in the province of Neuquén in the west of the country in 2015-17 had anything to do with the communist superpower's less-than-festive balloons. It is difficult to say, of course, given the scarcity of information on the base, but the incidents are an opportunity to revise China's presence in Argentina.

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