Just three years ago, Bowling Green, Ky., was celebrating the largest industrial investment ever made in the city, a new sprawling electric-vehicle battery factory that would create 2,000 jobs. Today, the building is there. The jobs aren’t, according to a Wall Street Journal analysis. The Chinese-owned company behind the factory quietly stopped working on the $2 billion plant last September, according to current and former employees. Now there is just a massive metal shell of a building with no interior equipment.

Two decades ago, China shocked the United States with its ability to make and ship things fast and inexpensively on a scale never before seen, the New York Times reported. The resulting surge of exports reshaped America’s economy and its politics. Today, a new China shock is cascading across the globe from Indonesia to Germany to Brazil. As President Trump’s tariffs start to shut China out of the U.S., its biggest market, Chinese factories are sending their toys, cars and shoes to other countries at a pace that is reshaping economies and geopolitics.

The Bank of Japan on Tuesday left its policy settings unchanged amid ongoing trade uncertainty and announced that it would slow the pace of its bond-buying reduction after April 2026, the Wall Street Journal reported. The Japanese central bank held its policy rate steady at 0.5%, where it has remained since its last hike in January. BOJ Gov. Kazuo Ueda has said the bank will continue to consider further interest rate increases, depending on economic conditions.

The consumer landscape in China was very different in the 1990s, when Häagen-Dazs and Starbucks ventured in with premium products that were alien to most people, Bloomberg reported. They made huge inroads nonetheless, opening outlets at breakneck pace and raking in revenue. But times are changing, and they, like many other Western brands, are reassessing their approach to the world’s second-biggest economy, including possibly selling their businesses. General Mills, which owns Häagen-Dazs, is working on a potential sale of its more than 250 stores in China. Starbucks Corp.

A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation, Bloomberg reported. In a survey of 72 monetary authorities, 43% said they expected their gold reserves to increase, up from 29% a year earlier and the highest figure in eight years of data collected by the World Gold Council and YouGov. None anticipated a decline. Central banks have been one of the most important drivers of a long-running gold rally that has seen prices double since late-2022.

U.S. Bankruptcy Court Judge Robert J. Faris has ordered Imperial Pacific International to show cause why its chapter 11 bankruptcy case should not be dismissed or converted to chapter 7, Marianas Variety reported. Judge Faris wants IPI to provide proof that it has renewed or replaced its recently expired liability insurance policy by June 19. If not, he said the court will enter an order dismissing IPI’s case without further notice or hearing. IPI operated a casino on Saipan for four years until the COVID-19 pandemic forced its closure in March 2020.

Thailand has reached a major aviation milestone as Thai Airways International triumphantly exits its court-supervised debt restructuring program after four challenging years, following official approval from the Central Bankruptcy Court in Bangkok, Travel and Tour News reported. This crucial court decision not only restores the national carrier’s financial stability but also paves the way for the resumption of trading on the stock market, renewed investor confidence, and Thailand’s strengthened position in the global aviation industry.

Hozon New Energy Automobile, the owner of the Neta electric vehicle brand, has officially entered the bankruptcy review process, according to a notice posted on China’s centralized information platform on bankruptcy cases, YiCai Global reported. The National Enterprise Bankruptcy Information Disclosure Platform updated its information about Hozon Auto on June 13, adding Zhejiang Zicheng Law Firm as the administrator, the main person in charge of the administrator, and other data.

The recent bankruptcy of Marelli, a supplier of automotive components, has sent shockwaves through the global automotive industry, MSN.com reported. This event marks one of the first major corporate failures triggered by the new tariffs imposed by Donald Trump's administration. Marelli's collapse directly impacts Stellantis and its renowned brands, including Jeep, Chrysler and Dodge. Marelli, known for its expertise in vehicle lighting and electronic components, had been grappling with financial difficulties for years.

The Pakistan Tehreek-e-Insaf (PTI) has launched a scathing critique of the government's economic management, attributing severe decline in GDP growth from over 6% to negative figures, to the leadership of Prime Minister Shehbaz Sharif, Devdiscourse reported. PTI Central Information Secretary Sheikh Waqqas Akram has highlighted a concerning reduction in average Pakistanis' purchasing power by 58% since the current administration took office.