U.S.-China Tensions, Facebook Feeling the Heat: Weekend Reads

Bloomberg

Published: October 9, 2021, 06:45 PM

U.S.-China Tensions, Facebook Feeling the Heat: Weekend Reads

Tensions between Washington and Beijing intensified with news that a small number of American troops has been training local forces in Taiwan to defend the island in case of attack by China. Beijing called for their withdrawal.

The U.S. Senate approved a short-term increase in the amount of money the government can borrow, but there will be another debt-limit fight in less than two months. And Democratic divisions continue to jeopardize Biden’s economic agenda. 

Facebook’s business practices came into sharp focus once again as a whistleblower told the Senate that the social-media colossus puts profits ahead of user safety. Chief Executive Officer Mark Zuckerberg said the allegations are “just not true.”

U.K. Prime Minister Boris Johnson wrapped up his Conservative Party’s annual conference with a pitch to build a high-wage, high-skills economy. 

Democratic Strife Risks a 2022 Bloodbath — and Biden’s Legacy

Divisions among Democratic progressives and centrists are threatening Biden’s economic agenda and his legacy. If they fail to unite to pass a safety-net package, Joshua Green reports, the party could pay a steep price in next year’s midterm elections.

Xi Picks Opportune Time to Cool Tensions With Biden Meeting

There are pressing reasons for Chinese President Xi Jinping to arrange a meeting with Biden and dial back tensions between the world’s two largest economies. Iain Marlow lays out what’s at stake when the two hold a virtual summit before the end of the year.

Dueling U.S., China Military Drills Highlight Rising Taiwan Risk

Taiwan was the focus of rival displays of might by the world’s major military powers this week. Samson Ellis reports on the record sorties by Chinese military planes off one coast and flotillas of U.S. and allied warships off another. 

Whistleblower’s Guide to Fixing Facebook Centers on Algorithms

In her testimony to the U.S. Senate on Tuesday, former product manager Frances Haugen stressed an overarching point: Facebook needs to make big product changes that would likely lead to less engagement, a decline in advertising dollars, and ultimately less profit. Naomi Nix and Anna Edgerton outline what she said.

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