Interesting times.

In September 2024, "The International Monetary Fund (IMF) has approved a $7 billion loan to cash-strapped Pakistan." "Pakistan has taken more than 20 loans from the IMF since 1958 and is currently its fifth-largest debtor." BBC. On 25 March, "The IMF said...it has reached agreement with Pakistan on a new $1.3 billion loan program and reviewed an existing bailout that would, if approved, unlock an additional $1 billion." NDTV. The IMF may help a country in extreme financial difficulty but loans have to be repaid. "Argentina is one of the largest and most frequent borrowers of the IMF." In 2018, it received a record $57 billion loan from the IMF. "Fast forward to early 2025, and the country still faces an outstanding IMF debt of roughly $44 billion." Dawn. On 25 March, "Iran's currency hit a record low of 1,039,000 rials to the US dollar.., as the absence of nuclear talks with the US continues to fuel economic uncertainty." "The steep decline began after Israel launched devastating attacks on Iran's proxy, Hezbollah, in Lebanon in September, undermining Tehran's regional influence." The election of Donald Trump as US President has added to the pain. Iran Int. "The Chinese government has promised new child care subsidies, increased wages and better paid leave to revive a slowing economy. That is on top of a $41bn discount program for all sorts of things, from dishwashers and home decor to electric vehicles and smart watches." "While the US and other major powers have struggled with post-Covid inflation, China is experiencing the opposite: deflation," as "prices fell for 18 months in a row in the past two years." BBC. As China's economy slowed people cut down on eating out and "That unleashed a price war in which food providers are offering coffees at 9.9 yuan ($1.40) and four-person set meals at 99 yuan ($14)." "A restaurant in China has an average lifespan of just about 500 days, analysts say, falling to as low as a year in Beijing, where municipal data show net restaurant profits plunged 88% in the first half of 2024." Reuters. In 2010, China banned exports of rare earths to Japan after it arrested Chinese fishermen trespassing in its waters. Since then Japan has adopted a policy of "Critical mineral security and the 'garbage is gold' approach." However, waste production is shrinking in Japan but rising in India, so Japan is investing in India. FP. "China will export deflation and recession to the world," said Kotak Mutual Fund MD Nilesh Shah. "After Trump's aggressive tariff push, cheap Chinese goods - redirected from the US - are now flooding emerging markets. Countries from Southeast Asia to Latin America are grappling with job losses, collapsing local industries, and surging trade imbalances.' BT. Just a sample of economic turmoil in the world. Seems that everyone is going to live in interesting times  (wikipedia). Like it, or not.