Pallavi Gogoi

Jerome Powell has thrown himself, all guns blazing, into saving the nation's economy from the grips of the coronavirus recession.

And yet the White House heaps ridicule on him.

It was just a few months ago when things were looking up for Latinos. Wages were rising and unemployment had hit a record low.

Trish Pugh started an Ohio trucking company with her husband in 2015. Even for a small business, it's small — they had two drivers, counting her husband, until they let one go because of the coronavirus crisis.

And so her company applied for a loan under the first, $349 billion round of the Paycheck Protection Program, which the federal government had set up to rescue small businesses.

It didn't go well.

Bailout is a dirty word.

The Merriam-Webster dictionary defines bailout as "a rescue from financial distress."

So it is accurate to call the $1 trillion-plus package being debated in Congress a bailout.

But let's not call it that this time.

Humiliation. In China, it is a word laden with history and identity that is playing a role in the high-stakes trade war between the U.S. and China.

This month, I was visiting China with a small group of journalists for 10 days, and the word "humiliation" came up over and over again in conversations both public and private, in meetings with top government officials, university scholars, think tankers and corporate executives.

A top Huawei executive said Tuesday that the company is willing to sign a "no-spy agreement" with the United States to reassure U.S. leaders who say the company's technology could be used for surveillance.

The offer is similar to proposals the Chinese tech giant has made to the United Kingdom and Germany, and it comes after weeks of intense pressure from the Trump administration.

These are prosperous times in America. The country is plump with jobs. Out of every 100 people who want to work, more than 96 of them have jobs. This is what economists consider full employment.

The economy has grown for almost 10 years, making it one of the longest economic expansions in U.S. history. And over that time, the job market has come back. It grew slowly at first, then steadily, finally reaching a point at which there are many more openings than job seekers.

China's Vice President Wang Qishan likes parables.

He offers tales from ancient China when he wants to make a point.

I discovered that last week at the World Economic Forum at Davos, Switzerland, where Wang spoke and I listened intently on the translation headsets provided by the forum.

A new president is elected. Within days of being sworn in, he pulls his country out of a U.N. migration pact. His path to power has been pockmarked by disparaging comments about women, including a congresswoman. His preferred choice for top posts are members of the armed forces.

Davos is where world leaders preen and articulate grand visions in a glamorous setting that beckons with powdery snow and shiny klieg lights. The annual meeting, high in the Swiss Alps, is the ultimate gathering of the global elite.