Three news stories summarized & contextualized by analytic journalist Colin Wright.

Recession reality hits major economies

Summary: Both Japan and the UK met the technical requirements for recession in 2023, according to new data, and there are concerns that several European nations could be next.

Context: Growth has been meager in most wealthy countries this past year, and this is partly the result of larger economic forces, partly a hangover from pandemic-era expenses, and partly the result of tumult—economic and military—elsewhere; the US has proven to been almost bizarrely resilient in the face of this, compared to its peer economies, though there’s trepidation about that, too, as China’s economy continues to falter and the interconnected nature of all these countries risks pulling those that are doing pretty well into a slowdown or recession at some point in the near-future.

—Axios

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Trump fraud ruling threatens to handcuff family business operations

Summary: A New York fraud case against former US President Trump has resulted in a $355 million ruling, alongside limitations on how his businesses can operate and how much oversight they require.

Context: This case was based on allegations that Trump and his people lied about how much their assets were worth in order to attain better loan terms, and though Trump has said he’ll appeal the ruling, an appeal would also tie up a large amount of money, possibly more than the judgement sum, as a sort of guarantee that must be put down during the appeal process, alongside interest, which is expected to be more than $100 million; so while not the absolute worst punishment that could have been applied, this is likely to place a significant monetary burden on Trump’s businesses, and could make it more difficult for him to get loans and do business in New York in the future.

—The Wall Street Journal

Alexei Navalny’s team confirms his death and says his mother is searching for his body

Summary: The Russian opposition leader Alexei Navalny has been confirmed dead by the people running the remote Arctic penal colony where he was serving time for opposing the Russian government.

Context: Navalny was seemingly poisoned by the Russian government in 2020, allegedly at the behest of President Putin, and returned to the country in 2021, at which point he was arrested, and then moved to progressively more punishing prisons; so while he survived that poisoning, he’s been on a sort of assumed deathwatch ever since, because he was the figurehead of one of the few anti-Putin political and ideological movements in Russia; world leaders have criticized Putin’s government following the announcement of Navalny’s death, many suggesting or outright saying he had been murdered by Putin; pro-Navalny protests and ceremonies around Russia have been violently broken up by government security forces, and hundreds of people have been arrested.

—The Associated Press

Military spending in 2023 marked a new record of $2.2 trillion, due to Russia’s invasion of Ukraine, Israel’s invasion of Gaza, and a general sense of insecurity around the world.

—The Washington Post

18%

Reduction in soil degradation in the Dominican Republican from 2009 to 2019 stemming from intense land recovery efforts, leading to a re-greening of previously desolated areas.

This is restoring entire ecosystems, and helping the country restore its depleted tourism industry.

—El País

Trust Click

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