USA

Xi Jinping Holds First-Ever Meeting with ‘Pragmatic’ Javier Milei

China’s President Xi Jinping recently hosted a groundbreaking meeting with Javier Milei, a prominent Argentine economist and politician known for his pragmatic approach to economics. The meeting is seen as a significant diplomatic move, bridging the ideological gap between the two countries.

During their discussion, Xi and Milei exchanged insights on economic development, emphasizing the importance of promoting free markets and encouraging investment. They also touched upon bilateral trade and the potential for future collaboration.

Milei’s invitation to Beijing underscores the growing recognition of his ideas in China. His “pragmatic economics” philosophy has resonated with Chinese officials seeking to balance economic growth with fiscal responsibility.

USA

Steven Madden C.E.O. Says It Is Moving Production Out of China

Steven Madden, Ltd. is shifting production out of China as a result of rising operational costs in the country. Moving production will ease some of the financial burdens the company has been experiencing in recent years. In a news release, CEO Edward Rosenfeld said the company has already begun the process of diversifying its supply chain to reduce reliance on China. Rosenfeld said Mexico and Vietnam are seen as lucrative alternatives that will mitigate the impact of tariffs. The changes are expected to benefit the company in the coming years.