{"id":186131,"date":"2023-03-06T11:15:00","date_gmt":"2023-03-06T16:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=186131"},"modified":"2023-03-06T10:54:20","modified_gmt":"2023-03-06T15:54:20","slug":"china-boosts-defense-spending-shiba-inu-update-olearys-life-lesson-draws-criticism-and-more-5-weekend-stories-you-may-have-missed","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/china-boosts-defense-spending-shiba-inu-update-olearys-life-lesson-draws-criticism-and-more-5-weekend-stories-you-may-have-missed\/","title":{"rendered":"China Boosts Defense Spending, Shiba Inu Update, O&#8217;Leary&#8217;s Life Lesson Draws Criticism And More: 5 Weekend Stories You May Have Missed"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>China&#8217;s policy moves are closely watched given it has emerged as a dominant economy in the world.<\/li>\n\n\n\n<li>Fed watchers are resigned to a quarter-point increment at March meeting but one economist has a different take.<\/li>\n<\/ul>\n\n\n\n<p>Former President&nbsp;<strong>Donald Trump&nbsp;<\/strong>took the spotlight this weekend with a video released on social media platform&nbsp;<strong>Rumble&nbsp;<\/strong>and his address to the Conservative Political Action Committee&nbsp;<a href=\"https:\/\/www.benzinga.com\/news\/23\/03\/31209674\/will-donald-trump-win-republican-nomination-in-2024-election-heres-what-his-niece-predicts\" target=\"_blank\" rel=\"noreferrer noopener\">conference on Sunday<\/a>.<\/p>\n\n\n\n<p>Here&#8217;s a recap of a few major headlines that hit the wire over the weekend.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>China\u2019s GDP Target:&nbsp;<\/strong><\/h2>\n\n\n\n<p>After struggling with COVID-19 recurrences in 2022, China seems to be on the mend. The National Working Report presented by Premier&nbsp;<strong>Li Keqiang&nbsp;<\/strong>at the National People\u2019s Congress opening session showed that the<a href=\"https:\/\/www.benzinga.com\/government\/23\/03\/31209281\/china-boosts-defense-spending-sets-gdp-growth-target-of-5-for-2023-national-peoples-congress\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;country now targets 5% GDP growth&nbsp;<\/a>and 3% consumer price inflation for 2023. Importantly. a draft budget presented by the Ministry of Finance, also during the weekend, showed a slightly faster pace of increase in defense spending.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Summers Raises Prospect Of Bigger Rate Hike:&nbsp;<\/strong><\/h2>\n\n\n\n<p>Former Treasury Secretary&nbsp;<strong>Larry Summers<\/strong>&nbsp;told Bloomberg News he wants the&nbsp;<a href=\"https:\/\/https\/\/www.benzinga.com\/news\/23\/03\/31209445\/larry-summers-says-fed-should-consider-a-50-basis-point-hike-in-march-but-that-will-likely-depend-on\" target=\"_blank\" rel=\"noreferrer noopener\">Fed to keep the door open for a 50 basis-point hike<\/a>&nbsp;at the March meeting. The central bank tempered the pace of rate hikes from 50 basis points to 25 basis points in each of the past two meetings. He apparently views that the Fed is now behind the curve with respect to rate hikes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Major Update Coming For Project Shibarium?&nbsp;<\/strong><\/h2>\n\n\n\n<p>Lead&nbsp;<strong>Shiba Inu&nbsp;<\/strong>developer, who goes by the pseudonym&nbsp;<strong>Shytoshi Kusama,&nbsp;<\/strong>created a buzz when he hinted through his Twitter bio update that&nbsp;<a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/23\/03\/31209970\/shiba-inu-developer-hints-major-update-for-highly-anticipated-crypto-project-shibarium\" target=\"_blank\" rel=\"noreferrer noopener\">ShibaSwap is the official decentralized exchange for the Shiba Inu&nbsp;<\/a>and Shibarium ecosystem. The project\u2019s White Paper indicates that ShibaSwap will provide a safe place for traders to crypto assets in a decentralized environment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>O\u2019Leary Says Quit Job, Start Business:&nbsp;<\/strong><\/h2>\n\n\n\n<p>Shark Tank\u2019s&nbsp;<strong>Kevin O\u2019Leary&nbsp;<\/strong>faced backlash after he suggested on Twitter that the most notable thing to do in one\u2019s life was to&nbsp;<a href=\"https:\/\/www.benzinga.com\/news\/23\/03\/31210470\/kevin-oleary-says-you-should-quit-your-job-do-this-instead-elon-musk-and-doge-co-founder-disagree\" target=\"_blank\" rel=\"noreferrer noopener\">quit one\u2019s job and start a business.<\/a>&nbsp;Shortly after,&nbsp;<strong>Dogecoin&nbsp;<\/strong>founder&nbsp;<strong>Billy Markus&nbsp;<\/strong>chimed in, taking potshots at O\u2019Leary\u2019s comments and Markus\u2019 view was promptly endorsed by&nbsp;<strong>Elon Musk.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Apple Supplier Sees February Setback:&nbsp;<\/strong><\/h2>\n\n\n\n<p><strong>Apple, Inc.&nbsp;<\/strong>iPhone assembler&nbsp;<strong>Hon Hai Manufacturing Company Limited<\/strong> reported&nbsp;<a href=\"https:\/\/www.benzinga.com\/news\/23\/03\/31210186\/apple-supplier-foxconns-february-revenue-slumps-as-consumer-electronics-business-slows-what-that-mea\" target=\"_blank\" rel=\"noreferrer noopener\">February revenue that fell year-over-year and quarter-over-quarter.&nbsp;<\/a>The Taiwanese company blamed the softness on customer pull-ins amid caution.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Else:&nbsp;<\/strong><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.benzinga.com\/news\/23\/03\/31210278\/apple-in-final-stages-of-production-testing-new-imacs-says-gurman-what-investors-should-know\" target=\"_blank\" rel=\"noreferrer noopener\">Apple could launch a new iMac as early as the second half of this year,&nbsp;<\/a>Bloomberg columnist Mark Gurman said. The machine is reportedly in the advanced stages of engineering testing.<\/p>\n\n\n\n<p>Nobel Prize-winning economist Paul Krugman shared a chart compiled by the St. Louis Federal Reserve, which showed a<a href=\"https:\/\/www.benzinga.com\/analyst-ratings\/analyst-color\/23\/03\/31210923\/paul-krugman-says-this-is-the-most-puzzling-chart-in-economics-right-now\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;divergence between housing starts and employment numbers.<\/a>&nbsp;He called it the \u201cmost puzzling economic\u201d chart.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted March 6, 2023 &#8211; <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/23\/03\/31216211\/china-boosts-defense-spending-shiba-inu-update-olearys-life-lesson-draws-criticism-and-mor\">China Boosts Defense Spending, Shiba Inu Update, O&#8217;Leary&#8217;s Life Lesson Draws Criticism And More: 5 Weekend Stories You May Have Missed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s policy moves are closely watched given it has emerged as a dominant economy in the world.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,18,6,8,9,22,26,3],"tags":[264,216,294,527,1685,591,10115,10549,44],"contributors-categories":[13584],"class_list":{"0":"post-186131","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-text-articles","13":"category-traders-insight","14":"tag-apple","15":"tag-china","16":"tag-crypto","17":"tag-gdp","18":"tag-macro","19":"tag-outlook","20":"tag-rate-hikes","21":"tag-shiba-inu","22":"tag-stocks","23":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the 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