FT News Briefing Why Ireland’s economy is red hot
Aug 9, 2022
Rising tensions in the Taiwan Strait are igniting concerns worldwide, especially with China's military maneuvers. Meanwhile, the Irish economy is thriving, thanks to tech sector taxes amidst a backdrop of high living costs. Investors are divided over the longevity of the recent tech rally, caught between hopes for a sustainable recovery and fears of potential earnings declines. Lastly, the U.S. reinforces its support for Ukraine, adding another layer to global geopolitical tensions.
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China's Military Drills
- China's military drills around Taiwan are causing increased tension and concern.
- The drills involved crossing the median line in the Taiwan Strait, signaling potential future presence closer to Taiwan.
Taiwan-US Military Strategy Disagreement
- Taiwan and the U.S. disagree on military strategy regarding China.
- Taiwan prioritizes fighter jets, while the U.S. emphasizes smaller, mobile weaponry.
Tech Rally and Investor Uncertainty
- The Nasdaq has rallied by 15% since last month, recovering from a bear market.
- The rally is driven by better-than-expected Q2 earnings, but investors remain divided on its sustainability.