'Vaccines alone, the researchers find, accounted for 40 percent of the decline in infant mortality. The paper... estimates that in the 50 years since 1974, vaccines prevented 154 million deaths.'

cc: Vox

The initial reading for Q1 real GDP came in lower than expected, at 1.6% (QoQ, seasonally adjusted annual rate).

Q1's GDP reading was dragged down by (as compared to 2023 Q4) higher net imports, weaker personal consumption growth, and lower gov't consumption.

With sales and construction collapsing, China’s real estate slump mirrors what the U.S. experienced during the Great Recession. Morning Joe

China's real estate collapse has weighed heavily on the country's economy writ large.

Since 2019, the Beijing stock market has risen less than 20%. (The S&P 500 is up 87% since then.) Morning Joe

China's real estate industry accounts for nearly 30% of the country's GDP, and Chinese household have almost 80% of their wealth tied up in real estate.

(In the U.S., by contrast, real estate accounts for less than a third of total household wealth.) Morning Joe

China’s property bubble is bursting. After nearly a decade of rapid gains, home prices have fallen by 6% over the last year. Morning Joe

Between 2003 and 2019, construction of new residential property in China ballooned by 280%.

Over the same period, its population grew just 9%.

Now, the country has more homes than it can fill. Morning Joe

China's property market is in trouble. I'll be on Morning Joe to in a few to discuss (and chart) the problem.

Biden's campaign closed the small-dollar donor gap in Q1, and now leads Trump in fundraising among <$200 donations.

The International Energy Agency projects that wind and solar production will grow 690% by 2050...to just 16% of the global energy mix.

To reach our climate goals, low-carbon energy sources have to largely replace fossil fuels, not just complement them.
cc: Morning Joe

The switch from coal to natural gas (and, now the growth of renewables) has helped drive U.S. emissions down 15% since 2005.

But even with the green energy boost of the Inflation Reduction Act, we're still a long ways from our Paris Accords goals. Morning Joe

Europe and the United States are responsible for the bulk of carbon emissions throughout human history, but today, with their faster-growing industrial economies, developing economies — especially China — have taken the lead. Morning Joe