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“The state of the union is strong”

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U.S. President Joe Biden delivers his second State of the Union address to a joint session of congress

U.S. President Joe Biden has delivered his second State of the Union address, sparring with Republicans and appealing for bipartisanship.

With the sitting president eying off the possibility of running for a second term in office, he needs to deliver real change and get the public back on side.

In a show of unity, Biden began his address by congratulating the incumbent House Speaker, Kevin McCarthy.

This is the first time Biden has addressed a GOP-controlled House.

The theme of today’s speech was certainly optimism for the future.

Biden trying very hard to convince the American people his administration is equipped to lead the nation through these turbulent economic times.

Economic uncertainty

The country’s economy was front and centre, with Biden noting it has recovered more quickly from the Covid-19 pandemic than many other major markets.

Inflation’s at a record high, and while it’s beginning to cool after hitting 9.1 per cent, Americans aren’t feeling the impact just yet.

In fact, only only 21 per cent of residents rate the current economic conditions as positive.

Biden’s legislative achievements were front and centre

Biden’s legislative achievements include a sweeping health and climate package, an infrastructure law and investments in the semiconductor industry.

All federal infrastructure projects will need to have materials which have been made in America.

Biden says his economic plan is about investing in places and people that have been forgotten.

The president believes too many people have been left behind.

Biden took aim at big business

As America suffers through an energy crisis, the president says oil companies have pocketed $200 billion in profits.

He says corporations should do the right thing.

Climate change was also addressed

Biden has promised to build new storm resistant power grids, roads, electric vehicle infrastructure, while providing tax credits for residents who want to purchase their own EV.

When it comes to global warming – Biden wants to “finish the job”.

Taxing the rich

Biden reiterated his promise not to tax anyone who earns under 400,000 a year.

“No billionaire should be paying a lower tax rate than a school teacher or a firefighter,” he said.

When it comes to the debt ceiling, Biden warned Republicans not to attempt to cut social security or medicare benefits.

The U.S. hit the debt ceiling set by Congress in January, forcing Treasury to start taking extraordinary measures to keep the government paying its bills.

House Republicans say they will only lift the borrowing if the government introduces spending cuts.

“Folks – as we all apparently agree, Social Security and Medicare is off the books now, right? They’re not to be touched,” Biden said. “We’ve got unanimity!”

“Let’s all agree, and apparently we are, let’s stand up for seniors,” he said. “Stand up and show them! We will not cut Social Security; we will not cut Medicare.”

He added: “If anyone tries to cut Social Security – which apparently no one is going to do – I’ll stop them. I’ll veto it.”

Police brutality

Perhaps unsurprisingly, safety and police brutality were featured in the address.

Biden made a point of acknowledging the parents of late Tyre Nichols.

29-year-old Nichols was beaten to death by police officer in Memphis.

His death has renewed calls for police reform and reignited a national conversation on justice in policing.

Biden’s message: “They must be held accountable”.

Gun reform and abortion rights

Biden reignited calls for gun reform – calling for a ban on assault weapons.

It follows the recent mass shooting in Monetary Park, California.

Abortion rights are a hot topic in the United states.

The U.S. Supreme Court overturned Roe v Wade in late June 2022, repealing a nationwide protections for the procedure which were put in place 50 years ago.

If Congress attempts to pass a national ban on abortion, Biden says he will veto it.

The infamous Chinese balloon was also mentioned.

Biden says it’s never a good move to bet against America.

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China encircles Taiwan with military drills, sparking global concern

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Beijing’s latest show of force sends a stern warning to Taiwan, as the US urges restraint amid escalating tensions.

China deployed planes and ships to encircle Taiwan on Monday in military drills that Beijing described as a “stern warning” to what it called “separatist” forces on the island.

The exercises, dubbed Joint Sword-2024B, mark China’s fourth large-scale war game targeting Taiwan in the past two years.

Beijing, which has not ruled out using force to bring Taiwan under its control, conducted these drills in the north, south, and east of Taiwan, focusing on sea-air combat readiness and blockading key ports.

Practicing an assault

The Chinese military’s Eastern Theater Command said the drills also included practicing an assault on maritime and ground targets, with China’s coast guard conducting “inspections” around the island.

Taiwan condemned the exercises as “irrational and provocative,” deploying its own forces in response. The Taiwanese defence ministry stated it is fully prepared to counter any threat to its sovereignty.

The United States criticised China’s actions as “unwarranted” and warned of the risk of escalation, calling on Beijing to act with restraint. Taiwan’s President Lai Ching-te, who has taken a firmer stance on Taiwan’s sovereignty than his predecessor, convened a high-level security meeting to address the drills, describing them as inconsistent with international law.

Tensions between China and Taiwan continue to rise, with China ramping up its military activity around the island in recent years.

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Europe’s crossroads: confronting electoral upheaval and rising global tensions

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Experts discuss the EU’s challenges and opportunities ahead

Euro Bloch is a comprehensive program designed to highlight the breadth of topics and issues within the EU political landscape. It offers insightful analysis within the evolving framework of relations between the European Union and Australia/Asia-Pacific region.

Hosted by Ticker EU correspondent, Natanael Bloch.

In this episode, Natanael interviews Professor Bruno Mascitelli about the future of the European Union following the June elections. With Ursula von der Leyen re-elected as President of the European Commission, Mascitelli discusses the challenges she may face in her second term and the growing influence of far-right and populist parties in the EU Parliament.

As Hungary takes over the Presidency of the Council of the EU, concerns about its impact arise. The episode also considers the EU’s potential diplomatic role amid escalating tensions in the Middle East and identifies crucial policy areas where the EU must strengthen its stance to compete globally.

 

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Money

China has pledged to “significantly increase” debt to jumpstart its economy

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Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

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