CHANGE: Emerging economies are decoupling from China, helping them stay strong despite rising interest rates.

Due to the recent weakness in China this year, Wall Street largely expected most other emerging economies to follow, he noted. Meanwhile, rate-hiking cycles in the 1980s and 1990s triggered crises in emerging markets, and analysts expected the latest tightening campaign to produce a similar results. But except for a few instances, that didn’t happen.

“Among the 25 largest emerging economies, three-quarters of those reporting data have beaten growth forecasts this year — some, including India and Brazil, by a wide margin,” the chair of Rockefeller International wrote. “Forecasts for global growth in 2023 are rising and most of that uplift is coming from emerging economies.”

Many developing nations entered 2020 with improved fiscal discipline and stronger banking systems compared to prior decades, Sharma said.

So when the pandemic hit, they didn’t have to borrow as much money to pay for stimulus spending, with their deficits rising on average by 15% of GDP from 2020 to 2022, just half as much as the US’ did, he pointed out.

“The old notion that ’emerging’ is another word for reckless no longer applies,” he wrote.

And, compared with the Federal Reserve, emerging-market central banks did not delay in tightening their monetary policy. Such early intervention now allows many to start cutting interest rates, while the US looks to possibly hike two more times this year, he added.

In other words, our central bank isn’t as well run as, say, Kenya’s.

NOTHING TO SEE HERE, MOVE ALONG: CDC Altered Death Certificates to Remove ‘COVID Vaccine’ as Cause.

DEAL OF THE DAY: Meat Slicer Electric Deli Food Slicer. #CommissionEarned

RESIST: Hong Kongers are mailing memes and support to jailed pro-democracy protesters.

More than 10,000 people have been arrested and at least 2,900 charged for their roles in the 2019 Hong Kong protests, which first erupted in June over a government extradition bill and later morphed into a broader movement fighting for democratic freedoms. In 2020, the Chinese government quashed the movement by imposing a national security law that gave authorities expansive new powers to crack down on political opposition. In 2021 alone, 985 people were put into custody for charges related to the protests, including unlawful assembly, rioting, and endangering national security. By the end of 2022, 522 of them remained behind bars.

While public expressions of dissent have dwindled in Hong Kong, some residents continue to support the city’s jailed protestors through small-scale online initiatives. Because inmates are prevented from using the internet, supporters like Ruby update them on news of the outside world through mailed printouts of news clips, memes, and YouTube video transcripts. They send essential items such as toothbrushes and underwear using online businesses, and share handwritten letters from the prisoners on social media to help relay their conditions to the public.

More than a little reminiscent of resistance to Soviet rule.

FOLLOW THE SCIENCE: Texas professor fired after teaching sex is determined by chromosomes: legal group.

Schools in Texas should be afraid of doing things like this.

BEIJING BARBIE: Vietnamese Government Censors Hollywood Flick Over Disputed South China Sea Map.

COVERUP: San Francisco State University fails to provide all documents.

CORPORAL KLINGER, CALL YOUR OFFICE: Army’s transgenders are exempt from physical fitness standards.

KRUISER’S MORNING BRIEFING: Judge Gives Free Speech Lovers a Big 4th of July Gift. “Doughty, by the way, is a Trump appointee, so thank you once again, Mr. President.”

MY NEW YORK POST COLUMN: CDC boss’ utterly laughable exit warning on politicized ‘science.’ “What we’ve seen repeatedly is the use of ‘science’ as an excuse for bullying people into going along with leftist policies, when there’s not any actual science involved. A statement isn’t ‘science’ just because people who call themselves scientists make it. If it’s not supported by data and replicable research, it’s just opinion. And, sometimes, just bullying.”

MATT TAIBBI: Remember, Freedom Is Good. Things have gotten so weird, even the most uncontroversial parts of the American experience are becoming taboo. “The country today is run by politicians who spend all their time telling us freedom is dangerous, and the press won’t go near the word unless it can wedge it into an act of self-flagellation, à la the Washington Post headline today: ‘How an enslaved genius saved the Capitol dome’s ‘Freedom’ statue.’ The one thing this country doesn’t need to be ashamed of is its unifying idea, and our cultural and political leaders have somehow managed to turn even that into a source of division.”

Well, that’s because so many of our institutions, especially in media and academia, are anti-American. Also, the people running them are garbage people. That’s all.

PUSHBACK WORKS: Ireland losing enthusiasm for “hate speech” bill.

DISPATCHES FROM THE BLUE ZONES: Gunman arrested for Philadelphia mass shooting which left 5 dead is BLM activist who wore women’s clothes.

DON SURBER: Judge orders Biden to stop censoring Real Americans.

Because the feds got social media outlets to serve as surrogate censors, Judge Doughty issued an injunction forbidding the feds from talking to the people who run social media. He did so on the Fourth of July because fighting the evil of government censorship is embedded in the birth of a free America.

The Washington Post owned by Jeff Bezos whined, “The Trump-appointed judge’s move could upend years of efforts to enhance coordination between the government and social media companies.”

I hope so.

Plus:

In his order, he said, “In this case, Plaintiffs allege that Defendants suppressed conservative-leaning free speech, such as:

“(1) suppressing the Hunter Biden laptop story prior to the 2020 Presidential election;

“(2) suppressing speech about the lab-leak theory of COVID-19’s origin;

“(3) suppressing speech about the efficiency of masks and COVID-19 lockdowns;

“(4) suppressing speech about the efficiency of COVID-19 vaccines;

“(5) suppressing speech about election integrity in the 2020 presidential election;

“(6) suppressing speech about the security of voting by mail;

“(7) suppressing parody content about Defendants;

“(8) suppressing negative posts about the economy;

“and (9) suppressing negative posts about President Biden.”

I follow the news pretty close but reading the breath-taking amount of censorship heaped upon us by the federal government is shocking. The censorship and the lies raise the argument that we should defund the entire enterprise and let the states govern and the National Guard and local militias protect our borders.

You have to read the decision itself to appreciate just how often and routinely the Biden administration got Facebook and Twitter to censor posts and ban dissenters, including Robert Francis Kennedy Jr. There are 18 incidents in the first 93 days of the Biden administration’s takeover of the White House.

The CDC also engaged in this orgy of unconstitutionality.

Anything to keep the masses from figuring out what’s being done to them, or from organizing to do something about it.

OH, DROP DEAD: AP Celebrates Independence Day By Explaining Why The Word ‘Patriot’ Is Problematic. Our chattering class isn’t just useless, it’s poisonous.

ELIZABETH SCALIA: Pride month is over; I have notes. “So, it might be time to recognize that ‘Pride’ is no longer a grassroots movement needed to win civil rights and fight oppression. When your government is putting out taxpayer money to participate in a month-long celebration, maybe your worries should no longer focus on being oppressed.”

It’s hard to be both the darling of the Establishment, and oppressed.

HEH: Joy Reid Reveals She Got Into Harvard ‘Only Because of Affirmative Action,’ Surprises No One.

HARSH BUT FAIR: Kamala: The Bud Light of Vice Presidents.

TRUTH:

No Republican president could have someone pose topless on the White House lawn at an official event FOLLOWED BY cocaine being found in the White House and not have the media just go absolutely bat shit insane.

— Meghan McCain (@MeghanMcCain) July 4, 2023

LIVING HISTORY: China is in default on a trillion dollars in debt to US bondholders. Will the US force repayment?

Before 1949, the government of the Republic of China (ROC) issued a large volume of long-term sovereign gold-denominated bonds, secured by Chinese tax revenues, to private investors and governments for the construction of infrastructure and financing of governmental activities. Put simply, the China we know today would not have been possible absent these bond offerings.

In 1938, during its conflict with Japan, the ROC defaulted on its sovereign debt. After the military victory of the communists, the ROC government fled to Taiwan. The People’s Republic of China was eventually recognized internationally as the successor government of China. Under well-established international law, the “successor government” doctrine holds that the current government of China, led by the Chinese Communist Party, is responsible for repayment of the defaulted bonds.

A private group of American citizens holds a large quantity of these gold-denominated bonds. This citizen-led group, the American Bondholders Foundation (ABF), serves as trustee with power of attorney for some 20,000 bondholders, whose bonds are valued at well more than $1 trillion.

Then-U.K. Prime Minister Margaret Thatcher’s tough negotiation stance on the return of Hong Kong to China led to a British settlement agreement on these same Chinese bonds in 1987. Thatcher said that for China to have access to U.K. capital markets, it had to honor the defaulted Chinese sovereign debt held by British subjects. Faced with that stark choice, China agreed.

Unfortunately, the U.S. failed to take such a common-sense stance. To this day, China has had access to U.S. capital markets while openly rejecting its sovereign debt obligations to American bondholders.

Beijing always knows who to pay off in Washington.

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WHY IS ACADEMIA SO RACIST AND SEXIST? White Professor Disgusts Women Historians’ Conference.

A conference for female historians this weekend was plunged into turmoil when a prominent white academic speaking at the main event said her professional life would have been easier if she were Black.

She was identified by attendees of the Berkshire Conference of Women Historians, on social media and in an interview, as USC professor emerita of history Lois Banner, who co-founded the biennial event in the 1970s.

Banner—author of a 2012 biography of Marilyn Monroe—reportedly also said she wished she was a lesbian because they were good at building community and organizing. She did not respond to a request for comment.

“She was immediately called out for her blatantly racist remarks, and refused to apologize, let alone listen, to the reason why her remarks were horrifying wrong [sic]. ‘You won’t change my mind, I’m 84 years old,’” Stephanie Narrow, a doctoral student who attended the Friday night plenary session, tweeted.

“The room is shaken, it’s palpable,” Narrow added.

“Shaken.” Also, “Narrow.” If you put that name in a novel it would seem heavy-handed.

From the comments: “Where is her actual quote? This is a story of what she reportedly said and how others reacted. If what she supposedly said was said, is she not entitled to HER own interpretation of HER own work experience? She can’t have her own wishes for herself?”

Right? I mean, if she doesn’t identify as racist or sexist, it’s wrong to misbigot her.

MARK JUDGE: The Supreme Court and the End of Punitive Liberalism.

The phrase “punitive liberalism” was coined by James Piereson in his remarkable 2007 book, Camelot and the Cultural Revolution: How the Assassination of John F. Kennedy Shattered American Liberalism. Simply put, punitive liberalism means liberalism that exists to punish the United States for all the world’s problems. From foreign policy to racism to personal psychological ills, America is the world’s great Satan.

In its recent landmark rulings, the Supreme Court has blown the doors off punitive liberalism.

Make the rubble bounce.

WE CAN HOPE: WILL THE SUPREME COURT DISMANTLE THE ADMINISTRATIVE STATE?

NOW THAT’S A HAPPY BIRTHDAY: Court Hands Down A MASSIVE Victory for Freedom on the Fourth of July.