Global Economic Shifts: China Boosts Tourism and Services, ECB Cautions on Rates, Ford Announces Job Cuts

Group 1: China’s Economic Initiatives - China is rolling out policies to invigorate service consumption and tourism, including issuing 5-year multiple-entry visas to a broader range of individuals and extending business hours for tourist attractions and museums [2][3][9] - The country aims to expand pilot programs in strategic sectors such as telecommunications, healthcare, and education to attract global capital and open up the economy [3][9] - China plans to promote international sporting events, targeting a total scale of the sports industry to exceed 7 trillion yuan ($982 billion) by 2030, as part of its strategy to make domestic demand the primary engine of economic growth [3][9] Group 2: European Central Bank (ECB) Stance - The ECB is maintaining a cautious approach to future interest rate adjustments, with Governing Council member Scicluna stating that there are no planned cuts, emphasizing a data-dependent approach [4][9] Group 3: Automotive Industry Developments - Ford Motor Company is set to cut 1,000 jobs at its Cologne plant in Germany in early 2026 as part of a broader restructuring effort across Europe, with a total workforce reduction of approximately 4,000 employees by 2027 [5][9]