China
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Marginal Rates: For tax year 2026, the top tax rate remains 37% for individual single taxpayers with incomes greater than $640,600 ($768,700 for married couples filing jointly).
The other rates are:
35% for incomes over $256,225 ($512,450 for married couples filing jointly);
32% for incomes over $201,775 ($403,550 for married couples filing jointly);
24% for incomes over $105,700 ($211,400 for married couples filing jointly);
22% for incomes over $50,400 ($100,800 for married couples filing jointly);
12% for incomes over $12,400 ($24,800 for married couples filing jointly).
The lowest rate is 10% for incomes of single individuals with incomes of $12,400 or less ($24,800 for married couples filing jointly).
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“President Trump ratcheted up tariff and trade tensions with China on Friday. In a post on Truth Social, the president said the US would impose an additional 100% tariff on Chinese goods starting on Nov. 1, 2025.”
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Vladimir Putin, Xi Jinping and Kim Jong-un arrive at a military parade to commemorate the 80th anniversary of World War II in Beijing, China. / AP
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Bangkok Art & Culture Centre censors works following visit from Chinese officials
According to information provided by the Human Rights Foundation on 7 August and verified by ArtReview, representatives of the Bangkok Metropolitan Administration (the main funder of BACC) accompanied by Chinese embassy officials visited the exhibition on 27 July, three days after it opened, and flagged several works as ‘problematic’. Works by Hong Kong artists Clara Cheung and Gum Cheng Yee Man, Tibetan artist Tenzin Mingyur Paldron and Uyghur artist Mukaddas Mijit were removed or obscured and the names of the artists were blacked out.
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Ford’s Answer to China: A Completely New Way of Making Cars
Farley thinks that Ford’s new way of making EVs is the perfect weapon to take on the Chinese automakers, the ideal example of precisely how the West needs to compete. “You’ve got the BYD model: 700,000 employees, 200,000 powertrain engineers. How do you beat them?” asks Farley. “Turns out, Doug and Alan and the team built a propulsion system that was like Apollo 13, managed down to the watt so that our battery could be so much smaller than BYD’s. Their cost advantage on vertical integration on the battery is offset by innovation in the powertrain. We can’t beat them on scale. We can’t beat them on vertical integration. But we can beat them on innovation.”
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LIVE | ‘Countries Willing to Kiss My ‘Ass’ for Talks’: Trump Trade Secret BOMBSHELL | CLRCUT
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What’s Trump thinking? People are barely getting by after COVID, and now with these tariffs? This just makes things worse.
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Buddha
Lingshan (Ling Mountain), Jiangsu Province, China
江苏灵山大佛
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Chinese court tries Myanmar gang accused of scams, drugs, extortion, murder
“A Chinese court has begun hearing charges against 23 members of a notorious Myanmar-based telecoms fraud gang accused of a range of crimes.”
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How a top Chinese AI model overcame US sanctions
“DeepSeek’s success is even more remarkable given the constraints facing Chinese AI companies in the form of increasing US export controls on cutting-edge chips. But early evidence shows that these measures are not working as intended. Rather than weakening China’s AI capabilities, the sanctions appear to be driving startups like DeepSeek to innovate in ways that prioritize efficiency, resource-pooling, and collaboration.”
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Which EV manufacturers performed the best in 2024 so far?
“Covering both passenger cars and light-commercial vehicles (LCVs), the global light-vehicle market saw mixed performances from EV manufacturers in the first half of 2024. One of the most noticeable trends was that OEM success followed regional growth patterns. Many Chinese vehicle makers recorded impressive growth between January and June. Compared to the restrained results of most Western OEMs, the likes of Geely, Changan, Li Auto, Seres (Aito), and Chery did particularly well.”