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China: The context behind the CCP's 20th National Congress

China: The context behind the CCP's 20th National Congress

On Sunday, the 20th National Congress of the Chinese Communist Party kicked off with General Secretary Xi Jinping consolidating his power after a decade leading the world’s most-populous country.

The backdrop for this year’s congress is arguably the most uncertain of Xi’s leadership, even as he remains poised to secure an unprecedented third term in power. Last Thursday, a man strung anti-Xi banners across a bridge in Beijing, a rare public protest in a nation that has become accustomed to swift suppression of dissent. The protest targeted the incumbent president after over 2-and-a-half years of some of the strictest COVID policies in the world which — whilst they saved lives — put the people of China under enormous strain.

Shifting sands

The country’s economy is also starting to slow, just as Xi turns his focus to national security and geopolitics. The closely-watched GDP figures, which were scheduled for release yesterday, were delayed without explanation. The last few quarters that have been released show a sharp slowdown, although China is hardly unique in dealing with economic struggles in 2022.

In a speech made at the congress, the president offered a bleak future insight into China’s already-strained relations with the US, and wariness clearly goes both ways in the nations’ relationship too. Biden’s latest semiconductor restrictions have reportedly hit China hard and a major shift in the US electorate’s view of the country is testament to how sharply relations have deteriorated, with around 80% of Americans now viewing China as an "enemy".

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Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy. 

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

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Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: smile, make eye contact, and greet or wave when a shopper comes within 10 feet — and if they get closer, within four feet, ask whether they need help or how their day is going, according to a new Bloomberg report.

Dubbed the 10-4 program internally, the rule mirrors rival Walmarts own 10-foot policy, formalizing behavior Target had previously only encouraged.

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Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

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