The data invisibility of Asian Americans
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 23 April 2021
⏱️ 12 minutes
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Summary
Joe Biden plans to announce a set of tax increases on the wealthiest Americans, and there has been a rally in the price of lumber due to demand from the housing market. Plus, the FT’s data journalist, Christine Zhang, explains how statistics can fail Asian American communities.
Biden prepares to announce string of tax rises for richest Americans
https://www.ft.com/content/a43d966e-b7d9-4ee1-bb77-2a6561dfda12
Lumber party: economic bounce fuels US wood price rally
https://www.ft.com/content/202dada4-b188-4112-9689-6fec2924efb0
The data invisibility of Asian Americans
https://www.ft.com/content/119b6ffb-bc5e-4632-bc0a-199be9cfb7e7
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Friday, April 23rd. This is your FT news briefing. |
| 0:08.6 | Joe Biden wants to raise taxes on America's wealthiest citizens, and as economies rebound from |
| 0:14.2 | the pandemic, we'll look at one commodity whose price is soaring. Plus, the US Senate just approved |
| 0:20.3 | a bill to address hate crimes against Asian Americans. We'll talk to the FT's data journalist |
| 0:25.5 | Christine Song about why Asian Americans are too often missing from the numbers. |
| 0:30.5 | It can feel like an overly broad term sometimes, and you feel like, okay, so now we're all in |
| 0:35.2 | this one category. Is this how everyone just sees us? I'm Mark Filipino, and here's the news you |
| 0:41.0 | need to start your day. US President Joe Biden is set to announce tax increases on wealthy Americans |
| 0:49.2 | as soon as next week. It's to pay for an increase in funding for child care and education. |
| 0:54.7 | The changes would reverse some of Donald Trump's 2017 tax cuts. The capital gains tax for Americans |
| 1:00.4 | making more than a million dollars a year could almost double. Also, in the package is an increase |
| 1:05.4 | in the top income tax rate. Investors were enthralled by Thursday's news. The big US stock indices |
| 1:11.8 | all ended the day down nearly 1%. Despite yesterday's dip in the stock markets, |
| 1:22.2 | equities for the most part have been heading higher as investors grow more and more confident |
| 1:27.1 | about the US economy. Commodity prices are higher as well. One commodity that's really booming |
| 1:33.3 | is wood. I've got the FT's markets editor Katie Martin on the line to find out what's going on |
| 1:38.2 | with wood futures. Hey, Katie. Hey, how you doing? Good. Katie, remind us a future in this context. |
| 1:45.4 | What is it? So yeah, here with futures, we're talking about contracts that people use to lock in |
| 1:50.8 | the price of lumber a little bit further in the future as the name suggests. And they're up |
| 1:55.9 | about 50% this year. But also, if you're buying the preferred wood for home building, I'm sure |
| 2:03.1 | we all have a favorite wood. Of course. The industry standard, I'm sure you're aware, is |
| 2:09.4 | western spruce pine fur, which is up 30% to over $1200. And this is like well above the average |
... |
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