Economy

China's global ambitions
Minister: China's cheap goods threaten the world economy

The entire world economy is threatened by cheap Chinese export goods, says French Finance Minister Bruno Le Maire.

- We have to address this problem, says Bruno Le Maire in an interview on Bloomberg TV.

The statement follows US Treasury Secretary Janet Yellen's call last week to introduce tariffs against China in the EU as well.

The rhetoric among the leaders of the G7 countries has become increasingly harsh against China's exports, which are said to be flooding the global market with cheap goods. The fear is that it will eliminate jobs in the Western world, writes Bloomberg.

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The development of electric cars
Evergrande's electric car company rushed in terms of sales

The struggling Chinese real estate giant Evergrande is in negotiations to sell its electric car subsidiary to an unnamed buyer. This is reported by Nikkei Asia.

The negotiations are not legally binding and Evergrande has not yet received proof that the potential buyer can finance the acquisition, the newspaper writes.

Suffering from a lack of funds, Evergrande New Energy Vehicles has halted production at its main factory in Tianjin. The company is also facing demands for reimbursement of subsidies from local authorities, which may adversely affect its financial position.

The electric car maker's stock soared 87 percent, while the property giant's stock plunged 21 percent on Monday's Hong Kong stock exchange.

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Tech companies' AI race
Elon Musk has taken in 64 billion for his AI company

Elon Musk has taken in the equivalent of SEK 64 billion in a new financing round in his AI company, XAI. This is reported by several media.

The capital injection will be used to bring the company's AI tools to market, the company writes in a blog post on Sunday. "There will be more news in the coming weeks," says Musk in the post.

The company has previously said that it will develop the world's most powerful supercomputer, which will be ready for use by the end of next year.

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Norwegian growth
Chief economist: Norway will almost drown in money

The Norwegian economy could face a major boost, says the bank Eika's chief economist Jan Ludvig Andreassen. He points out, among other things, that the government has refrained from major withdrawals from the oil fund in recent years. In addition, interest rate cuts and krone strengthening will be an injection going forward.

- My point is that in the years to come Norway will almost drown in money, says Andreassen in an interview with Dagbladet.

The economist has become known for forceful statements that may go against the views of his colleagues.

- Jan is probably a bit optimistic, says Nordea's chief economist Kjetil Olsen.