Medical and Hospital News  
TRADE WARS
Biden says US must invest because China 'eating our lunch'
by AFP Staff Writers
Lake Charles, United States (AFP) May 6, 2021

President Joe Biden warned Thursday that Congress needs to adopt his multi-trillion dollar spending plans to renew the US economy because China is "eating our lunch."

Speaking in deep-Republican Louisiana, Biden pitched his $2.3 trillion infrastructure proposal as a way to secure US preeminence on the global stage as much as fixing dangerous bridges and roads.

The plan is popular among Democrats but Republicans in Congress either oppose what they see as an uncontrolled spending spree or are proposing something far more modest.

Biden argued that his plan, which would fund traditional infrastructure like road transport, but also pour money into things like broadband internet and electric car research and development, will pay off.

It is "a blue collar blueprint to rebuild America, to supercharge our economy so we can move goods, get to work, become more competitive around the world," he said, standing at an outdoor podium in Lake Charles.

In the background was the 70-year-old Calcasieu River Bridge, which Biden called an example of major, heavily over-used US bridges needing not just repair but replacement.

Republicans object to Biden's call for funding infrastructure by raising the corporate tax rate from 21 to 28 percent.

He also touted his $1.8 trillion American Families Plan, which proposes expanding education and social protections and would be paid for through tax increases on the most wealthy.

Biden said a new vision is needed, focusing on research and development, because "the Chinese are eating our lunch. They're eating our lunch economically. They're investing hundreds of billions of dollars in research."

"If it keeps going the way, they're going to own the electric car market in the world," he said. "We've got to compete."

Next week, Biden is scheduled to negotiate at the White House with senior Republicans.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
Asian markets swing after Yellen spooks Wall St, eyes on US jobs
Hong Kong (AFP) May 5, 2021
Asian markets fluctuated Wednesday after Treasury Secretary Janet Yellen's suggestion that US interest rates might need to be hiked, as government spending measures fan inflation and the economy surges. The comments appeared to be a deviation from the united front top officials have put up in trying to reassure investors that the Federal Reserve's ultra-easy monetary policies will remain in place until the recovery is well on track. Investors are also awaiting the release of data on private jobs ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Over 600 Europe-bound migrants returned to Libya: navy

Utah's new concealed carry law won't apply at Hill AFB, Air Force says

Humanity taking 'colossal risk' with our future: Nobels

Fires a chronic threat to Iraqi lives, property

TRADE WARS
GPS tracking could help tigers and traffic coexist in Asia

US Army Geospatial Center Upgrades OGC Membership to Advance Open Systems

MyGalileoSolution and MyGalileoDrone: A word from the winners

Google Maps to show more eco-friendly routes

TRADE WARS
Dunbar's number debunked: You can have more than 150 friends

Circadian rhythm-controlling 'clock genes' could be tweaked to alter sleep

Prehistoric humans first traversed Australia by 'superhighways'

Model shows first Australians travelled on 'superhighways'

TRADE WARS
For animals, inbreeding isn't all that bad, new research shows

Humans significantly altered biodiversity on islands, study shows

Gorilla among 200 endangered species threatened by conflict: conservationists

Madagascar's horned crocodile warrants a new branch on the tree of life

TRADE WARS
EMA opens review of China's Sinovac coronavirus jab

India infections top 20 million but numbers offer slight hope

Chinese tourists out in force as virus fears recede

Philippines' Duterte gets Chinese-made Covid-19 vaccine

TRADE WARS
Chinese university campus plan meets resistance in Budapest

Kissinger warns of 'colossal' dangers in US-China tensions

Hong Kong passes immigration bill with 'exit ban' powers

'Blind box' craze grips China's youth and mints toymakers a fortune

TRADE WARS
Crew of Chinese boat freed from kidnappers: Nigerian army

USS Winston Churchill crews seize illegal weapons off coast of Somalia

Jade and rubies: how Myanmar's military amassed its fortune

TRADE WARS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.