On the afternoon of Aug. 7, Ministry of National Defense spokesman Senior Colonel Chen Xi said Huangyan Island is China’s inherent territory and that China has continuously, peacefully and effectively exercised sovereignty and jurisdiction there. Chen said China is the only state entitled under international law to declare territorial sea baselines for Huangyan Island. He described recent Philippine actions as a serious infringement of China’s territorial sovereignty, a grave violation of intern

U.S. global supply-chain pressure index for July 0.8, down from 1.25 previously.

U.S. nonfarm labor productivity rose at a 1.4% annualized rate in Q2, above a revised 0.8% in Q1 and beating consensus. Unit labor costs rose 1.3%, below expectations. Fed officials, investors and economists are monitoring whether large-scale AI investment is lifting productivity, but official quarterly data are volatile and a clear trend will take time to emerge. Labor costs remain a major corporate expense; efficiency gains can allow wage increases without adding inflationary pressure. Some economists warn sustained AI-driven productivity gains could prompt firms to delay hiring or cut staff. Q2 productivity was supported by the strongest output growth since Q3 2025 while hours worked rose only modestly.