The balance is shifting and Washington must accept that its hegemony is about to end, Viktor Orban has said The world is facing the biggest power shift in decades, with the US poised to lose its leading position to China, Hungarian Prime Minister Viktor Orban said on Saturday.
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US household wealth has fallen by at least $5 trillion so far this year amid an intense market selloff, according to a JPMorgan Chase note seen by Bloomberg. The losses could amount to $9 trillion by year-end, it estimated.
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