Economic Headlines: Trump, Tax Evasion, Tech Decoupling, Saudi Borrowing, and Indonesia's Tourism Strategy

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Economic Headlines: Trump, Tax Evasion, Tech Decoupling, Saudi Borrowing, and Indonesia's Tourism Strategy

This week witnessed a barrage of impactful news stories that could potentially reshape the global economic landscape. Among them was the potential return of former President Donald Trump, causing apprehension within Japanese businesses. A recent poll indicated that nearly half of Japanese firms perceive Trump's possible presidency as a significant risk due to his protectionist policies.The Internal Revenue Service (IRS) revealed that wealthy Americans are evading taxes amounting to over $150 billion annually. This tax evasion contributes to a perceived lack of fairness in the tax system, prompting the IRS to dedicate significant resources to address this issue.Amidst the ongoing decoupling between China and the tech world, Taiwanese chip companies are expanding their presence in Japan. U.S. efforts to curb China's advancements in cutting-edge semiconductors have driven this move.Saudi Arabia's ambitious development projects have strained the country's finances, leading to unprecedented borrowing and potential stock sales in Saudi Aramco. These high-profile projects are significantly depleting the country's cash reserves.In an effort to boost its tourism sector, Indonesia is considering the implementation of "Swiftonomics." The government aims to offer incentives for hosting music, sports, and cultural events to attract more tourists and encourage longer stays.