China's Economy Surges on Export Boom; US Sees Rising Black Unemployment

China's economy demonstrated stronger-than-anticipated growth in the third quarter, driven by a significant surge in exports, particularly in the electronics sector. This export-led expansion helped offset weaker domestic consumer spending and a prolonged housing market downturn, with GDP increasing by 4.5% year-on-year. Meanwhile, in the United States, the Black unemployment rate saw a concerning rise, climbing a full percentage point to 7% in September, nearly double the rate for white workers, signaling potential underlying weaknesses in the broader job market.

In other economic developments, Amazon is making significant investments in clean energy, agreeing to fund the construction of 12 small nuclear reactors in Indiana. This initiative aims to generate nearly a gigawatt of electricity, replacing a former coal plant with a carbon-free energy source. The tech giant's commitment to nuclear power underscores a growing trend towards alternative energy solutions. Separately, Walmart's Indian subsidiary, Flipkart, is reportedly developing a food delivery service, signaling a new competitive front in the e-commerce and delivery market.