Free Markets, Free People

Economic Statistics for 4 May 15

Boosted by aircraft and motor vehicles, factory orders rose an as-expected 2.1% in March, ending 7 straight months of decline.

Gallup’s US Consumer Spending Measure shows Americans’ daily self-reports of spending averaged $91 in April, up from $86 in March. 


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One Response to Economic Statistics for 4 May 15

  • It was not until 1985, about seven decades after Robert Scott and Roald Amundsen raced to the South Pole, that a team representing Beijing hoisted the Chinese flag over the nation’s first Antarctic research base, the Great Wall Station on King George Island.

    But now China seems determined to catch up. As it has bolstered spending on Antarctic research, and as the early explorers, especially the United States and Australia, confront stagnant budgets, there is growing concern about its intentions.

    China’s operations on the continent — it opened its fourth research station last year, chose a site for a fifth, and is investing in a second icebreaker and new ice-capable planes and helicopters — are already the fastest growing of the 52 signatories to the Antarctic Treaty. That gentlemen’s agreement reached in 1959 bans military activity on the continent and aims to preserve it as one of the world’s last wildernesses; a related pact prohibits mining.

    But Mr. Xi’s visit was another sign that China is positioning itself to take advantage of the continent’s resource potential when the treaty expires in 2048 — or in the event that it is ripped up before, Chinese and Australian experts say.