Economy

Climate threatGlobal challenges
China dismisses criticism: Helping world meet climate goals

China's industries are helping the world fight both climate change and high inflation. This is what Deputy Finance Minister Liao Min says after criticism from the United States, writes Bloomberg.

Liao Min believes that China contributes green goods that help other countries reach their climate goals by 2030.

- The global demand for cars powered by new energy will be 45-75 million units by then, which far exceeds the world's current production capacity, he says.

US Treasury Secretary Janet Yellen has repeatedly criticized China for, among other things, subsidizing electric cars and thereby contributing to overcapacity. According to Yellen, it risks knocking out companies and jobs around the world.

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The change of power in Great Britain
Super-rich Britons are advised of loopholes to avoid tax

Wealthy Britons are being advised to dodge tax increases after the change of power by exploiting a loophole in pension investments. This shows a review from The Guardian.

In secret filming, the wealthy are advised, among other things, to place assets abroad to avoid both inheritance tax and tax on capital gains.

After the election victory, Labor has promised to crack down hard on tax fraud. At an event shortly before the election, an adviser is reported to have said that the authorities will not close the loophole because they have "bigger fish to catch". However, according to analysts, hundreds of millions of pounds are predicted to leak from the British tax base that way.

As soon as next week, newly appointed finance minister Rachel Reeves is expected to give an update on the state finances going forward and also rake the arena for tax increases, newspapers write.

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The development of the Swedish krona
Norway attracts with a weak krona: "Avoid Switzerland"

In just one month, the Swedish krona has lost a lot of value compared to the euro, the dollar and the pound, which can make it expensive for Swedes who want to vacation abroad, writes SVT Nyheter. In order to find an affordable holiday destination, one should also take into account the countries' inflation and how it affects purchasing power, says SEB's head of analysis Karl Steiner.

He suggests that Norway has become affordable because the Norwegian krone, like the Swedish one, has been weak recently. Brazil and Mexico are also countries where the krone lasts longer.

Popular destinations such as the United States and Great Britain are, however, expensive.

- Switzerland should also be avoided because the Swiss franc is really strong, says the head of analysis.