A Special China Taping of Bloomberg's Trumponomics
Hao Hong, Managing Partner & Chief Investment Officer, Lotus Asset Management; Rebecca Choong Wilkins, Asia Economics & Government Reporter, Bloomberg and Robin Xing, Chief China Economist, Morgan Stanley join Stephanie Flanders, Head of Economics & Government, Bloomberg for a special taping of the Bloomberg Trumponomics podcast. (Source: Bloomberg)
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Business Insider
13 minutes ago
- Business Insider
African countries excluded as China expands visa‑free transit to 55 nations
China has expanded its 10-day visa-free transit policy to 55 countries, but notably excluded all African nations, raising questions about the scope of its global engagement. China has expanded its 10-day visa-free transit policy to 55 countries, excluding all African nations. It facilitates stays of up to 240 hours for travelers transiting to a third destination, with certain restrictions. The exclusion of African nations sparked debates about China's geopolitical strategies and diplomatic priorities. China's visa-free transit policy, which grants a 10-day stay for travelers in transit, now includes 55 countries but excludes all African nations—a move that has sparked disappointment and raised questions about Beijing's travel diplomacy and its Africa policy. The absence of African nations, despite China's strong economic and diplomatic ties across the continent, has surprised analysts and travel industry stakeholders alike. China's new transit policy allows travelers from select countries to stay visa-free for up to 240 hours if transiting to a third destination. Visitors must remain in the city or region of entry and have a confirmed onward ticket. While not a general tourist visa, the policy permits short-term activities like tourism, business, and family visits. Aimed at boosting convenience for businesspeople, tourists, and frequent travelers, it also helps save on visa fees and processing time. China-Africa relations threatened? China's recent visa-free travel policy for over 50 countries has sparked debate over the exclusion of African nations, raising questions about Beijing's stance toward the continent. This move appears contradictory given China's deepening trade ties with Africa, including zero-tariff treatment for 53 African countries and import duty exemptions for products from 33 least developed nations. However, the omission may not signal waning interest. Rather, it could reflect strategic prioritization of diplomatic and economic relationships. China's investments in Africa focused on trade, infrastructure, and development, suggest a long-term commitment. Understanding Beijing's approach requires considering the broader geopolitical and economic context in which its Africa policy operates. Observers note that this exclusion could be interpreted as a missed opportunity for people-to-people exchange, especially given Beijing's consistent rhetoric about its 'win-win' cooperation with Africa. With African countries hosting massive Chinese investments and infrastructure projects under the Belt and Road Initiative, the lack of reciprocal travel ease underscores a gap in the relationship that some believe needs urgent attention. Full list of eligible countries The countries included under China's 10-day visa-free transit policy are: Albania, Argentina, Australia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Brunei, Bulgaria, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Indonesia, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, Montenegro, Netherlands, New Zealand, North Macedonia, Norway, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, and the United Kingdom. These travelers are eligible for entry at any of the approved 60 transit points, which include international airports in cities like Beijing, Shanghai, Guangzhou, Chengdu, and Shenzhen, as well as a select number of seaports. Authorities have clarified that travelers must be in direct transit, meaning they must travel from Country A, transit through China, and continue to Country B. A return trip to the country of origin would not qualify under this policy.
Yahoo
14 minutes ago
- Yahoo
Influencer Marketing Gains Ground as Global Ad Budgets Tighten
(Bloomberg) -- Ashton Hall's morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall's brand of choice for drinking, brushing his teeth and submerging himself — that's fantastic news. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space 'We're so thankful to this incredible fitness influencer called Ashton Hall,' Saratoga-owner Primo Brands Corp.'s Chief Executive Officer Robbert Rietbroek said on an earnings call after Hall's morning routine video went viral. 'He really helped put our brand on the map.' Primo Brands, which wasn't affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer co-signs. Handbag-maker Coach, once synonymous with mall discounts, has become a Gen-Z status symbol and saw sales soar thanks to TikTok influencers expanding their collection of purses adorned with little cherry or pretzel charms. With economic turmoil squeezing ad budgets, content creators are seen as better value than other marketing areas. 'While it's true we are seeing brands begin to pull back in marketing expenditure as a whole, the creator economy is surging,' said Kenny Gold, head of social, content and influencer at Deloitte Digital. The global influencer marketing industry is projected to grow 36% between 2024 and 2025 to reach $33 billion, Statista data shows. 'This year will be the first year that advertising revenue on user generated content and platforms actually outpaces the ad revenue on professionally produced content,' said Kate Scott-Dawkins, WPP Media's global president of business intelligence. 'That's a big deal.' Unilever Plc's recently appointed CEO, Fernando Fernandez, said he will hire 20 times more influencers as part of a social-first marketing strategy because consumers are 'suspicious' of corporate branding. The owner of Dove soap and Hellmann's mayonnaise plans to dedicate as much as 50% of its ad budget to social media, up from 30% before. While fashion, beauty and accessories lead the way in employing influencer marketing, the strategy is gaining ground among consumer goods companies amid economic turbulence who are increasingly relying on influencers to position their products as premium, said Ruben Schreurs, CEO of media analytics firm Ebiquity Plc. With the expense of TV advertising, brands are starting to look at maximizing their reach more effectively, according to Alex Burgess, global president of The Goat Agency, which counts Unilever as one of its biggest clients. Globally, brands increased investment in influencer partnerships by 49% in 2024 and content creators topped social media marketing budgets, taking up a quarter of the total annual spending on average, according to Deloitte research. Influencer marketing spending is expected 'to continue to accelerate,' said Scott Morris, chief marketing officer of social media management company Sprout Social Inc. Within the last year, Publicis Groupe SA bought Influential, the largest influencer marketing company in the world by revenue, and BR Media Group, a leader in Latin America that works with 80% of the region's biggest influencers. Publicis' backing of players like Influential is a 'strong indicator' that influencer marketing is no longer a niche, said Oliver Lewis, CEO of The Fifth, an influencer marketing agency recently acquired by digital media company Brave Bison Plc. 'They have to be very acquisitive because if they don't acquire these capabilities across their network, they'll be left behind,' Ebiquity's Schreurs said. Companies often favor smaller, independent, topic-specific influencer agencies that can connect them to creators with a strong reach and a defined audience. Attracting Gen Z The appeal is the direct line to consumers. 'It works because it feels personal, relevant and real,' Sprout Social's Morris said. 'These are qualities that traditional advertising often lacks.' 'People trust people more than they trust brands,' said Rahul Titus, global head of influence at WPP-owned Ogilvy. 'Authenticity sells.' This resonates with Gen Z digital natives in particular, a cohort with $450 billion in global spending power. Micro-influencers – creators with 10,000 to 100,000 followers – 'exert great influence' on the 'the savvy and cynical' Gen Z, Jay Sinha, an associate professor of marketing at Temple University's Fox School of Business, wrote in a paper. As social commerce — where people buy and sell on social media platforms like TikTok Shop — becomes mainstream, brands want to create content with an 'easy onward journey to purchase,' said Jessica Tamsedge, EMEA CEO of Dentsu Group Inc.'s influence division. That flexibility, affordability — they're cheaper than celebrities — and direct impact, compared with the uncertain results of shooting a TV ad or setting up billboards, is appealing. 'Unlike more traditional channels, we're not weighed down by long lead times or heavy production guardrails,' said Nick Rogers, founder of influencer marketing agency The Cast, adding that campaign messaging can be adjusted, influencers recast and creative direction altered very quickly. That immediate feedback loop comes with a key risk: 'When it goes wrong, because it's social, it goes wrong very quickly,' Ogilvy's Titus said. German sportswear maker Adidas AG was forced to publicly cut ties with Kanye West in 2022, highlighting the risk of trusting a public figure with unlimited access to a phone. One way around that may be the emergence of AI-generated influencers, some of which have large followings on Instagram, TikTok or OnlyFans. Meta Platforms Inc. plans to fully automate ad creation with AI, including imagery, video, text and audience targeting, the Wall Street Journal reported. 'It's going to be very interesting to see how much value there is in being human versus an AI when it comes to engaging audiences,' Ebiquity's Schreurs said, adding that influencers' livelihood may be at risk from the shift. When it comes to concerns over brand safety, clients could look more favorably on an AI-generated influencer where everything can be controlled and there are no skeletons in the closet, WPP Media's Scott-Dawkins said. For now, the growth runway remains clear for influencer marketing. 'What used to be seen as a bolt-on is now right at the center,' The Fifth's Lewis said. American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years As Companies Abandon Climate Pledges, Is There a Silver Lining? US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
14 minutes ago
- Yahoo
Trump Parade to Display Power at Home That's Being Tested Abroad
(Bloomberg) -- President Donald Trump's pledge to exert US power around the world is being tested in Europe and the Middle East, but this weekend offers him a chance to display that power on American soil. Shuttered NY College Has Alumni Fighting Over Its Future Trump's Military Parade Has Washington Bracing for Tanks and Weaponry NYC Renters Brace for Price Hikes After Broker-Fee Ban Do World's Fairs Still Matter? As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space Trump, who's celebrating his 79th birthday on Saturday, is the driving force behind the parade down Washington's Constitution Avenue — which runs behind the White House — that includes a muscular exhibition of 6,600 soldiers, Abrams tanks, Bradley Fighting Vehicles and a Black Hawk helicopter. Also planned are historic reenactments, state-of-the-art military technology and a flyover with the Air Force Thunderbirds. The Army is marking its 250th anniversary with a companion all-day event on the National Mall. The parade is expected to cost $45 million, an estimate that includes potential damage to major District of Columbia streets from heavy tank treads. The US last celebrated its military strength in 1991 after the first Gulf War. The only other such events celebrated the end of the Civil War and World Wars I and II. While Democratic President John F. Kennedy included military displays in his 1961 inaugural parade, such exhibitions are more common in authoritarian countries such as Russia, China and North Korea. Longtime US ally France also marks its annual Bastille Day with a military parade. Previous parades in the US came in moments of national unity and patriotism about victories overseas. By contrast, Trump's parade coincides with his seizing control of California's National Guard and deploying US Marines to quell protests over immigration raids in the state. An appeals court is allowing him to continue their use over the weekend as a lawsuit from Governor Gavin Newsom is considered. Across the globe, Trump's exertion of US influence and power has been repeatedly stymied. Few US trade deals have been notched since his April 2 'Liberation Day' announcement. Israel and Iran traded missile strikes on Friday, jeopardizing US talks with the Tehran government over its nuclear program. Secretary of State Marco Rubio said Israel acted 'unilaterally.' Hours later, Trump linked the strikes to the talks, demanding that Iran return to the discussions. Despite a promise to end the war in Ukraine on 'Day 1,' Trump has failed to push Russian President Vladimir Putin to the negotiating table and both sides are waging increasingly audacious attacks. European leaders are moving away from relying on the US and seeking other means of aiding Ukraine. Back home, the Washington parade will be flanked by at least 200 'No King' protests nationwide to defy what organizers call Trump's brand of authoritarianism. Millions are expected to participate from New York and Chicago to Milwaukee and Los Angeles. Trump on Monday referred back to the 2020 protests over the murder of George Floyd by Minneapolis police, and suggested he would handle such incidents differently in his second term. 'There's so many different places where we let it burn, we wanted to be politically correct, we wanted to be nice,' he said. 'Those people that want to protest, they're going to be met with very big force,' Trump said this week. 'And I haven't even heard about a protest, but, you know, this is people that hate our country, but they will be met with very heavy force.' Trump has been eager to host a military parade ever since attending a Bastille Day parade in Paris during his first term. City officials in Washington warned that heavy military vehicles could damage city streets, and the price tag became a political liability. American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software New Grads Join Worst Entry-Level Job Market in Years As Companies Abandon Climate Pledges, Is There a Silver Lining? US Tariffs Threaten to Derail Vietnam's Historic Industrial Boom ©2025 Bloomberg L.P.
