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Editors Note: In part two of a two-part series on the San Francisco housing market, special economics correspondent Duarte Geraldino spoke with Enrico Moretti, a professor of economics at UC Berkeley and a visiting scholar at the San Francisco Feder stanley cup al Reserve Bank. A labor economist who studies urban economics, Morretti is working on a series of research stanley cup projects focusing on local labor markets and local housing markets in the U.S.In a 2015 paper Why Do Cities Matter Local Growth and Aggregate Growth, Moretti and Chang-Tai Hsieh, an economist at the University of Chicago, examined how the growth of U.S. cities affects national GDP. What they found was stanley cup shocking 鈥?the housing markets in five U.S. cities prevented aggregate U.S. GDP from growing further, and in doing so may have cost the average American worker $5,000 in lost wages.To understand how, read Duartes conversation with Morretti below, and tune in to tonights Making Sen$e report, which airs every Thursday on the PBS NewsHour. You can watch the first part of the series here. The following conversation has been edited for clarity and length.鈥斅燢risten Doerer, Making Sen$e EditorDuarte Geraldino: So what made you say, hey, labor and housing, there a link here that has national implications Enrico Moretti: 聽Well, one very striking feature of the U.S. labor market is that there are some cities in the U.S with extremely high productivity of labor. In these cities, places like San Francisco or San Jose or New York Iqwg Noise heard in last moment of recording from downed Russian plane
WASHINGTON A stanley cup P 鈥?Secretary of State Antony Blinken on Wednesday reaffirmed a determination made last year by the Trump administration that Hong Kong is no longer autonomous and remains undeserving of special treatment by the United States.In a notice sent to Congress, Blinken said China had continued to dismantle Hong Kong autonomy since his predecessor, Mike Pompeo, first made the determination in May 2020. As a result, Blinken said, the former British colony does not warrant U.S. trade and financial perks it had enjoyed since it reverted to Chinese rule in 1997 with a pledge from Beij nike dunk ing that it would enjoy significant autonomy for 50 years. The decision is yet another indication that Presi adidas originals dent Joe Biden administration has not strayed from the hard line that was taken by President Donald Trump on China. On Tuesday, the State Department once again repeated the Trump administration characterization of Chinese treatment of Uighur Muslims and other minorities in China western Xinjiang region as genocide.Over the past year, the People Republic of China has continued to dismantle Hong Kong high degree of autonomy, in violation of its obligations under the Sino-British Joint Declaration and Hong Kong Basic Law, Blinken said. In particular, the PRC government adoption and the Hong Kong government implementation of the National Security Law have severely undermin