News From the Control Tower - 4/8/2021
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. As China Targets H&M and Nike, Local Brands See Their Chance
Chinese rivals to Western names have improved quality and marketing. Now the country’s defiance could give them an edge with young patriots.
2. Yellen Pushes for Global Minimum Tax Rate on Multinational Corporations
Treasury secretary makes the case for President Biden’s $2.3 trillion infrastructure proposal
Audio summary of this article starting at minute 5.
3. Risky Borrowers Are Falling Behind on Car Payments
More subprime borrowers are missing monthly payments on their cars and trucks, pointing to an uneven economic recovery
4. Could Index Funds Be ‘Worse Than Marxism’?
Economists and policy makers are worried that the Vanguard model of passive investment is hurting markets.
5. Singapore Shows What Serious Urban Farming Looks Like
In a city-state that imports 90% of its food, rooftop gardens are a matter of national food security.
Bonus
Couple Who Defaced $400,000 Painting Thought It Was a Public Art Project
The vandalism of a piece by the graffiti artist JonOne at a gallery in South Korea has prompted a debate about contemporary art.