Communist | featured news

China plans major bond market reform to raise the money the ruling Communist Party needs for a 40 trillion yuan ($6.4 trillion) urbanization program to buoy economic growth and close a chasm between the country's urban rich and rural poor.

...For decades, Cuba has been a country whose government would not let its people leave. But in October, it announced a lifting of the despised travel ban to begin in January. The announcement cheered Cubans as well as millions of Cuban Americans whose families have escaped the island since its takeover by communists. But it is unlikely the change will result in a tidal wave of Cuban travelers.

For decades there's been no such thing as a commercial radio or TV spot in Cuba. Ditto for billboards, website banner ads, and newspaper classifieds.

The Communist Party official is named to a post that is considered a steppingstone for assuming the leadership. He has a reputation for being tough on corruption and friendly toward business, even foreign companies. Unless something goes badly wrong for Xi Jinping over the next two years, it looks like a fait accompli that the 57-year-old Communist Party official, who has been groomed his entire career for leadership, will be China's next president.

Cuban announced today it's laying off at least half a million state workers and allowing more private sector jobs as the communist nation's economy struggles to recover.