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Now with power to long rule China, Xi beset by challenges

Now with power to long rule China, Xi beset by challenges

World
As China's leaders gather for their annual Yellow Sea retreat, the country's political waters are looking choppy. Chinese President and ruling Communist Party leader Xi Jinping is beset by economic, foreign policy and domestic political challenges just months after clearing his way to rule for as long as he wants as China's most dominant leader since Mao Zedong. Mounting criticism of the Xi administration's policies has exposed the risks he faces from amassing so much power: He's made himself a natural target for blame. "Having concentrated power, Xi is responsible for all policy setbacks and policy failures," said Joseph Cheng, a retired City University of Hong Kong professor and long-time observer of Chinese politics. Notably, Xi used to dominate state-run newspapers' front pages and t...
What expats don’t know about this tax rule could cost them $100K or more

What expats don’t know about this tax rule could cost them $100K or more

Finance
It will take more than moving across an ocean to escape the long arm of the IRS. Americans who hold assets in foreign countries are required to report those accounts to the appropriate federal authorities — or else face penalties as high as $ 100,000 or 50 percent of the account balance. Despite the severe punishment for failure to report, Americans abroad still have a lot to learn about their reporting requirements. Those were the findings of a recent survey by Greenback Expat Tax Services. From late March to May 2018, the company polled more t...
The 60/40 stock-bond weight rule needs to go on a crash diet

The 60/40 stock-bond weight rule needs to go on a crash diet

Finance
The classic 60/40 rule — an investor should put 60 percent of their portfolio in stocks and 40 percent in bonds — is popular for a reason: It has a good historical track record of delivering equity-like returns, while lessening the risk of serious annual portfolio drawdowns.Here are a few basic statistics that prove that point.Since 1928 — the first year data were available — a 60/40 portfolio of the S&P 500 and 10-Year Treasurys has delivered an average annual total return of 9 percent, or 78 percent of the total return for just the S&P 500 (11.5 percent). After inflation (using annual CPI) this translates to a 5.9 percent average total return for 60/40, or 70 percent of the average real returns for the S&P 500 (8.4 percent).More from Fixed Income Strategies:Where the bonds ar
China scraps term limit on presidential rule

China scraps term limit on presidential rule

World
China has abolished the limit on how long its leader can serve, meaning President Xi could now rule the country indefinitely.The almost 3,000 hand-picked delegates at the National People's Congress overwhelmingly endorsed the constitutional change, with 2,958 voting in favour.There were two votes against, three abstentions and one ballot was invalidated.The amendment overhauls a system introduced by former leader Deng Xiaoping in 1982, which was introduced with the aim of preventing a repeat of the bloody reign of Mao Zedong.Until now, presidents had been limited to two consecutive terms.Image:The result of the vote is seen on a giant screenAs voting got under way, President Xi led members of the seven-member all-powerful Politurbo Standing Committee in casting their ballots.He put his ora...
Shape of Water and Frances McDormand rule Oscars

Shape of Water and Frances McDormand rule Oscars

Entertainment
Media playback is unsupported on your deviceThe Shape of Water, about a woman who falls in love with a sea creature, has taken the top honours at the Oscars.Frances McDormand won best actress for Three Billboards Outside Ebbing, Missouri, and persuaded every female nominee to stand with her in a night full of statements about inclusion.Britain's Gary Oldman was named best actor for playing Winston Churchill in World War Two epic Darkest Hour.The Shape of Water won the most Oscars with four, including best film.In her acceptance speech, McDormand put her Oscar on the floor in front of her and addressed executives as the female nominees got to their feet. It was one of the most powerful and symbolic moments of the night. "Look around, ladies and gentlemen, because we all have stories to tell...