U.S.

Basics
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Tillerson’s ‘less is more’ strategy for foreign aid meets bipartisan skepticism in Senate

Secretary of State Rex Tillerson spent the past two days in Washington defending proposed massive cuts to the foreign affairs budget, using the ‘less is more’ approach. Critics on both sides of the aisle characterized his proposal to cut the State Department and the U.S. Agency for International Development (USAID) by about 30 percent as “reckless” and “divorced from reality.”

Basics
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China can still reverse inequality before it’s as bad as the U.S.

Income inequality in China is worse than previously estimated, according to a new paper published last week by the National Bureau of Economic Research. Still, it’s not as bad as the U.S. Estimates by the new World Wealth and Income Database (WID.world) – an ongoing project of the authors, economists Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman – reveal that China’s richest 1 percent actually holds at least double the share of national income originally reported.

World Politics
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Will Trump honor deal with Australia to resettle Muslim asylum-seekers?

A “substantial” number of asylum-seekers from Australia’s offshore detention camps will be resettled in the U.S. following President-elect Donald Trump’s inauguration on Jan. 20, Australia’s Prime Minister Malcolm Turnbull said this week regarding a recent deal struck between the two countries. Now, it’s up to Trump to decide if it’s a good deal.

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