Senators reach consensus on gun control legislation, U.S.-China relations grow tense over Taiwan

Yahoo Finance published this video item, entitled “Senators reach consensus on gun control legislation, U.S.-China relations grow tense over Taiwan” – below is their description.

#senator #uschina #taiwan #guncontrol #YahooFinance

Yahoo Finance Contributor Kevin Cirilli reports on a group of 10 Republican senators announcing they had reached consensus with Democratic lawmakers over pieces of gun control legislation; inflation and rate hike concerns are mounting for investors; and tensions continue to grow between U.S. and China over Taiwan.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: Taiwan

Taiwan, officially the Republic of China, is a country in East Asia. Neighbouring countries include the People’s Republic of China to the northwest, Japan to the northeast, and the Philippines to the south.

The political status of Taiwan is complicated. The Republic of China (ROC) is no longer a member of the UN, having been replaced by the People’s Republic of China (PRC) in 1971. Taiwan is claimed by the PRC, which refuses diplomatic relations with countries that recognise the ROC. Taiwan maintains official diplomatic relations with 14 out of 193 UN member states and the Holy See.

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