
US Commerce Secretary Gina Raimondo warned at the Bloomberg New Economy Forum that AI-driven economic transitions could mirror the destabilizing effects of the 'China shock' on the American labor market if not properly managed.
AI-generated summary
The 'China shock' refers to the period of rapid Chinese industrial growth that significantly impacted US manufacturing employment.
Speaking at the Bloomberg New Economy Forum in New Delhi on Tuesday, she drew parallels between AI’s potential disruption to American jobs and the past impact of Chinese manufacturing competition on the US labour market.
“In America, we’ve seen what happens when we move through an economic transition without planning it … [the] so-called China shock left millions of Americans out of work and it destabilised our country,” Raimondo said.
The People's Bank of China released financial data for September. M2 balance increased by 7.2% year-on-year, and RMB loans increased by 11.52 trillion yuan in the first three quarters. Experts pointed out that financial data has stabilized and improved, the credit structure continues to be optimized towards new driving forces such as technological innovation, and loan interest rates remain low.
The 2026 Sichuan Cigar Expo opened in Chengdu on October 14. As the "Cigar Capital of China", Shifang City demonstrated its achievements in the entire cigar industry chain, brand building and cultural and tourism integration, aiming to enhance the international influence of Chinese cigars and the high-quality development of the industry.
"Dubai Business Forum China" was held in Shenzhen, focusing on topics such as artificial intelligence, cross-border investment and advanced manufacturing. The Dubai Chamber of Commerce announced that the non-oil trade volume between China and Dubai increased by nearly 23%, and 10 cooperation memorandums were signed on-site, aiming to deepen economic and trade ties and digital economic cooperation between the two parties.
The International Monetary Fund and the World Bank released the "Bangkok Blueprint" in Bangkok, aiming to jointly prevent the risk of online fraud in the digital financial field through cross-sector and cross-border cooperation and provide a reference framework for policy formulation in various countries.

Huang Chen, acting mayor of Baise City, Guangxi, said on the 14th that Baise is accelerating the construction of an important distribution and intermodal transportation hub for the New Land-Sea Corridor in Western China. It will enhance regional logistics and economic development by densifying the transportation network, promoting Pinglu Canal-related projects, and deepening cross-border industrial cooperation with ASEAN.

Taishin Shin Kong Financial Holdings announced that its cumulative after-tax net profit for the first nine months of this year reached 64.17 billion yuan, an increase of 184% year-on-year, and its after-tax net profit per share (EPS) was 2.47 yuan, a record high. Its subsidiaries, Taishin Bank, Shin Kong Bank and Taishin Securities, all performed well in terms of profits and maintained sound asset quality.