• Corruption has been plaguing China's military, including senior leadership.
• The issues and purges raise questions about China's military readiness and its ambitions.
• China's military has long struggled with graft, but it's growth and modernization can't be overlooked.

Corruption investigations have led to significant high-level purges in the Chinese military. A US Department of Defense official said that these purges are "just the tip of the iceberg" and that the issues affecting the military could hinder its ambitions, including Taiwan.

The Defense Department released its annual report on China's military last month, assessing that the People's Liberation Army has "experienced a new wave of corruption-related investigations and removals of senior leaders that may have disrupted its progress towards stated 2027 modernization goals."

China's leadership has directed the PLA to be fully ready to execute a potential invasion or blockade of Taiwan as a professional fighting force should Beijing opt to pursue that path.

The PLA has long faced corruption scandals, and Chinese leader Xi Jinping has spent the last decade cracking down as part of a wider campaign to root out corruption and ensure loyalty to the Communist Party. But the latest string of cases has left the Pentagon questioning China's military ambitions and their ability to achieve them in the Pacific.

At an event in mid-December with the Center for Strategic and International Studies, Deputy Assistant Secretary of Defense Michael Chase said the US has assessed "the anti-corruption campaign — the corruption challenges themselves — and how they could present real obstacles to accomplishing the goals that Xi has set for the PLA for 2027."

"Just the tip of the iceberg"

Over the past year and half, China has sacked at least 15 high-ranking military officers and defense industry executives. A prominent example includes the dismissal of Defense Minister Li Shangfu. China also expelled Li and another defense minister from the ruling party over graft. The suspension of Adm. Miao Hua from his position as the Director of the Political Work Department of the Central Military Commission in November 2024, was also significant.

Leaders within the People's Liberation Army's Rocket Force have also been removed.

PLARF's leadership has faced allegations of fraud in the construction of silos for ballistic missiles, and US intelligence has reported on missiles filled with water and intercontinental ballistic missile silos equipped with improperly functioning lids that could derail a missile launch.

At CSIS last month, Assistant Secretary of Defense Ely Ratner said a key takeaway from the corruption crackdown: corruption investigations such as this are typically highly secretive. Beijing has often publicly described the current wave of dismissals as "serious violations of discipline."

"We often don't hear about them until they're done," Ratner said of the Chinese corruption investigations. "And what that should lead us to believe is that what we are seeing now — which already has been substantial, right, 15 senior PLA officials already rounded up — is just the tip of the iceberg."

Chase added that there can be a spiral effect in these kinds of situations, where an investigation may reveal further corruption in a different branch or program. That's broadly been the case in the current wave of allegations.

China's military growth and Taiwan

The PLA has long suffered from corruption issues. Since he took office, Xi's anti-corruption campaign has been seen as a renewed effort to root out problems while also ensuring the PLA is both politically loyal to Chinese Communist Party leadership and prepared for any military directives Xi gives it.

China has pursued massive military buildup and growth over the past decade or so, with its eyes set on Taiwan and challenging the US as a peer adversary, but that's also driven corruption.

"The PLA is modernizing so quickly, and they're spending significant amounts of money to build up their forces," said Brian Hart, a fellow with the China Power Project at the Center for Strategic and International Studies. He said that widespread graft is, in many ways, also "a manifestation of the rapid pace of PLA modernization."

A concentration of the PLA purges being in equipment procurements and the defense industrial base supports the argument that the corruption could be tied to how quickly and aggressively the military is attempting to build up its forces and capabilities.

That raises questions of whether the PLA is on track to meet its mandated modernization goals — a concern that likely keeps Xi up at night, Hart said.

"Does that really undermine the PLA's ability to fight and win wars, especially when it comes to Taiwan?" he asked.

The Pentagon said in its recent report that an investigation announced in July 2023 related to weapons procurement programs dating back to 2017 pointed to "significant concerns with the PLA's modernization efforts more broadly."

What does corruption mean for China's military goals?

Despite the corruption, China's military has achieved tremendous military growth across its branches, from procuring advanced aircraft and bolstering its naval forces to doubling the number of missiles that can reach Guam.

Its military exercises in the Western Pacific, specifically around Taiwan, have grown in size and frequency, and it puts pressure on US allies. And there have been other demonstrations of might.

In September 2024, PLARF carried out an intercontinental ballistic missile test in the Pacific for the first time in 40 years, an apparent signal that despite its challenges with corruption, it maintains power and ambition.

Since the US election, China has been flexing its muscles, sending a clear message to the incoming Trump administration.

The ultimate goal, Hart explained, of Xi's anti-corruption campaign has been to ensure the PLA can modernize on the timeline he has implemented. Even with some issues along the way, China's military growth shows that effort has seen its successes.

Despite the Pentagon's observations, it remains unclear if the PLA's corruption problems will impact China's 2027 goals.

• California has banned undervalued and unsolicited property offers in fire-hit areas of Los Angeles.
• Gov. Gavin Newsom's executive order targeted speculators trying to exploit victims of the LA fires.
• The order covers areas like Pacific Palisades and Altadena, which have been devastated by the fires.

California just made it harder for predatory real estate investors to take advantage of victims of the Los Angeles fires.

On Tuesday, California Gov. Gavin Newsom signed an executive order temporarily banning unsolicited and undervalued offers for properties in specific Los Angeles County zip codes.

The order will be in place for three months, with the zip codes including areas such as Malibu, Altadena, Pasadena, and Pacific Palisades — some of the areas worst hit by the ongoing fires.

The LA wildfires, which have been raging for more than a week, have burned more than 40,000 acres, damaged over 12,000 structures, including many homes, and killed at least 25 people.

"As families mourn, the last thing they need is greedy speculators taking advantage of their pain," Newsom said in a press release.

The governor described how real estate speculators are exploiting the situation, saying he'd heard firsthand from victims who had "received unsolicited and predatory offers" from speculators offering cash far below the market value.

The executive order prohibits offers below the fair market value as of January 6, 2025 — the day before the fires started.

The press release said that the order was inspired by a similar measure issued by Hawaii Gov. Josh Green in August 2023, designed to protect residents after wildfires devastated much of Lahaina.

Violating the order during a state of emergency is a misdemeanor punishable by a fine of up to $1,000, six months in prison, or both.

Altadena, a "working-class neighborhood" hit hard by the Eaton fire, was cited as an example where undermarket offers could displace vulnerable residents with long-standing ties to the community.

"We will not allow greedy developers to rip off these working-class communities at a time when they need more support than ever before," Newsom said.

Even in areas like the Palisades, which has some of the most expensive real estate in the country, not all victims were wealthy.

A 22-year-old living in the Palisades, who works multiple jobs and said many in her building were blue-collar workers, told Business Insider about having to evacuate her rental apartment.

Concerns about exploitation in the rental market are also growing, as those who have lost their homes look to the future.

Jason Oppenheim of Netflix's "Selling Sunset" said that greedy landlords have been taking advantage of the fires by price gouging, or illegally hiking rents.

He told Business Insider: "This is a time for people to put aside any opportunities for financial gain. If anything, we should be giving back financially, not trying to be rewarded financially from the situation."

• Boeing delivered 348 commercial aircraft last year, fewer than half as many as rival Airbus.
• It's the sixth year in a row Boeing has lagged behind its European competitor.
• After a troubling year, the planemaker has a plan to turn things around.

Boeing reported last year's delivery figures late Tuesday, and they show the scale of the challenge that lies ahead.

The embattled planemaker delivered 348 commercial aircraft in 2024 — down by just over a third since the year before. It was its lowest figure since the pandemic.

Boeing also delivered fewer than half as many planes as rival Airbus, which last Thursday reported 766 deliveries.

Last year was especially arduous for Boeing as it not only dealt with the fallout from January's Alaska Airlines blowout but also a seven-week strike that crippled production.

However, it was also the sixth year in a row it has lagged behind Airbus.

The bulk of both companies' deliveries consist of short-haul, single-aisle aircraft.

Boeing's 737 Max has become almost synonymous with its recent woes, while Airbus is helping airlines unlock new routes with an extra-long-range version of its A320neo.

The A320neo overtook the 737 Max as the best-selling narrow-body jet following the Ethiopian Airlines and Lion Air crashes in 2018 and 2019, in which a combined 346 people died.

After a door plug came off an Alaska Airlines 737 Max in midair last January, the Federal Aviation Administration limited Boeing's production of the type to 38 a month.

However, it has stayed below that as it works to overhaul its safety and quality processes.

Boeing was also behind Airbus for orders last year, receiving 569 compared to the European manufacturer's 826. Although, it does have a smaller backlog to work through, of 5,595 versus 8,658.

On the one hand, backlogs are a sign that both firms have plenty of business — as airlines order planes years in advance. However, it is also a challenge to work through the order book and ensure airlines receive their jets on time.

Several Boeing customers voiced their annoyance with delivery delays last year. The planemaker also announced further delays to the certification of its 777X jet.

The industry has also had to contend with supply-chain constraints, with Airbus scaling back its delivery target.

For Boeing, there is a road map to increase production without compromising quality.

In 2024, it acquired the bulk of Spirit AeroSystems — a key supplier that was formerly part of Boeing before being spun off into its own entity.

Integrating Spirit back into the company should help keep production on track and minimize traveled work, where planes are assembled out of sequence.

Boeing CEO Kelly Ortberg has also made clear that he wants company leaders on the factory floors, so that workers have more trust in management and their concerns and challenges are better understood.

The latest delivery figures show there is a lot of work ahead for Boeing to better challenge Airbus, let alone reclaim the upper hand in the duopoly. But the new boss has a plan in place.

The world's CEOs are much more worried about global trade wars now that Donald Trump has been elected president than they were a year ago, according to a new survey from the Conference Board.

Why it matters: While no one knows exactly what tariffs the upcoming Trump administration is going to impose on which countries, the one certainty is that substantially all such tariffs will be met with retaliatory counter-tariffs. Or more simply: a trade war.

• As Axios noted on Monday, rapidly introduced tariffs could trigger speedy retaliation from major allies, including a broad-based 25% Canadian tariff on all U.S. imports.
• Such actions would make the 2018 trade war look minuscule.

Zoom out: The 2025 list of the top geopolitical worries also includes "foreign investment restrictions" and "greater risk of conflict in Asia-Pacific," both of which have risen sharply from their position last year.

The other side: Geopolitical worries don't seem to have dampened broader economic optimism.

• While 55% of U.S. CEOs said the risk of an economic downturn or recession was going to be a high-impact issue in 2024, that number has fallen to less than 40% in 2025.
• Similarly, the proportion of U.S. CEOs worried about high borrowing costs fell from 28% in 2024 to 16% in 2025.

Between the lines: As CEOs get more optimistic on the economy, a new Deloitte survey of North American CFOs shows a huge uptick in their risk appetite, too, since the election.

• 67% of CFOs say "now is a good time to take risks" — a six-year high.
• That figure is up from just 12% in the third quarter.

The bottom line: Global CEOs seem to have taken Baron Rothschild's admonition to heart: "The time to buy is when there's blood in the streets, even if the blood is your own."

• My eldest daughter had to learn to become self-sufficient at an early age.
• I have limited time for her because most of it is spent caring for my youngest.
• It's not the life I would have chosen, but my family is stronger for it.

My eldest daughter is self-sufficient at 10 years old. She gets herself breakfast and lunch, manages her own schedule, and finds ways to fill her time.

I never dread her school breaks on holidays and in the summer, I don't arrange entertainment for her, and she very seldom whines about being bored.

I just wish all this was by choice.

My 6-year-old has a debilitating disease

Instead, my eldest daughter's independence has come about because of my family's unusual circumstances. My six-year-old daughter has a rare progressive disorder called Rett Syndrome.

Her disease has stolen her words, hand use, independent mobility, and much of her swallow function. It has left her with a wheelchair, speech-generating device, feeding tube, and epilepsy.

With the help of my husband, I spend most of my time doing tasks like blending food, preparing medications, coordinating in-home helpers, fighting insurance denials, and driving to medical appointments.

Our workload intensifies whenever my youngest is not in school, her in-home helpers cancel their shifts, or she becomes ill. Because of her weakened immune system, she spends most of the winter sick. Meanwhile, my husband and I spend most of it caring for her.

Unfortunately, all this leaves little time for my eldest daughter.

My eldest's self-sufficiency is a silver lining

I struggle to do the most basic things with her, let alone, coordinate playdates, drive to after-school activities, or act as her entertainment director.

Instead, my eldest plays a vital role in our household. She relays messages, fetches supplies, helps with her sister's feeding tube, and operates our van's wheelchair ramp.

This might sound like my eldest has the short end of the stick. But her self-sufficiency has been one of the biggest silver linings of her sister's disease.

While my eldest daughter's peers are whisked from one activity to another, remain glued to tablets, or complain about being bored, she has the freedom to make what she wants of her time.

When she's not in school she's typically playing with neighborhood kids outside or, when the weather keeps her indoors, reading, designing art projects, or writing stories and poems.

The moments I spend with my eldest are precious and wonderful

I do spend time with my eldest daughter, of course, but not in the way I envisioned when I first became a mother.

Our moments together aren't as frequent as I would like and require a good bit of coordination.

However, because they are so few, they are also precious and highly enjoyable.

When my youngest is healthy and an in-home helper or my husband can care for her, my eldest and I plan activities together.

Sometimes she chooses a recipe and I give her a cooking lesson. Other times we spend a night in a hotel or have a "spa night" painting our nails and playing Mad Libs.

We look forward to these pockets of time when we laugh, talk, and share meals without stress or interruption.

This isn't the life I would have chosen but our family is stronger for it

Sometimes I worry that my eldest's limited extra-curricular activities will eventually make her a less competitive college applicant. She won't have an application filled with sports, language lessons, after-school activities, or service projects.

However, when I feel guilty, I remind myself that she will have many of the things one needs to succeed in life — self-reliance, independence, resilience, flexibility, and compassion.

Though this is not the life I would have chosen for my family, we are all stronger and wiser for it. My eldest daughter is a perfect example.

She doesn't fidget in the doctor's waiting room, even when she doesn't have a phone or a tablet. She doesn't walk by someone in a wheelchair without acknowledging them. She opens doors for others, stands up for her sister, and calmly accepts any last-minute changes to our plans.

I couldn't be prouder of the person she is becoming.

• Firefighters are bracing for strong gusts of winds, fuelling the deadly LA fires.
• The fires have burned through 40,000 acres and could cost up to $275 billion in damage.
• Over 8,500 firefighters have been deployed to fight the blazes. 25 people are reported dead.

Officials have warned that the fires raging across Los Angeles could soon get worse, with the "highest risk" of gusty winds to intensify on Wednesday.

The wildfires, which have now been raging for more than a week, have already burned through 40,000 acres and destroyed more than 12,000 homes and other structures.

Preliminary estimates from AccuWeather show the total damage and economic losses associated with the Southern California wildfires could amount to $275 billion, making it one of the most costly wildfires and natural disasters in recent US history.

According to Goldman Sachs, the total damage from the LA fires could rank among the top 20 costliest natural disasters in US history, in terms of GDP.

More than 8,500 firefighters have been marshaled to fight the blazes, which have caused at least 25 reported deaths.

During a press conference on Tuesday, Los Angeles Police Department Chief Jim McDonnell said 34 people had been reported missing, 21 of whom had been found safe.

Of the 13 remaining, two have most likely been found dead but have yet to be identified, he said.

Fires rage on

On Tuesday night, the LA County Fire Department said that a red warning for the Eaton Fire, one of the major blazes, had been extended through 6 p.m. on Wednesday, local time.

Moderate to strong winds were expected to persist, and gusty winds were at the "highest risk" of impacting the fire early Wednesday morning, it said.

At a press conference on Tuesday, Los Angeles County Sheriff Robert Luna said the next 24 hours would be another "dangerous" period, with high winds set to hit the region.

And in an update Tuesday, the National Weather Service of Los Angeles said "critical" fire weather conditions may extend to next week, when another round of Santa Ana winds could take place.

The Palisades and the Eaton Fires were 18% and 35% contained as of the early hours of Wednesday, according to the California Department of Forestry and Fire Protection, while the Hurst fire was almost fully contained, it said.

Looking beyond the destruction

LA officials are already looking beyond the fires, despite firefighters still struggling to put out the larger blazes.

On Tuesday, Los Angeles Mayor Karen Bass issued an executive order to speed up the city's building permit review process, calling for reviews to be completed within 30 days of submission.

The executive order also aims to streamline processes for clearing debris.

Meanwhile, California Gov. Gavin Newsom on Tuesday issued an executive order barring land developers from making unsolicited and undervalued offers to buy properties.

"Make no mistake — this is a prosecutable crime," he said in an X post.

Southern California Edison, an electric utility company serving California's Central, Coastal, and Southern regions, said on Tuesday that 70,250 customers were without power as of 4 p.m. local time.

It added that because of dangerous conditions, it could take days to restore power, and that customers should be prepared for extended and potentially intermittent outages.

• Millennials and Gen Z are packing up and leaving cities with high housing costs.
• They're moving to suburban and exurban communities while balancing hybrid work schedules.
• Here are 8 hot housing markets located outside major metropolitan areas, according to Zillow.

Young Americans sick of the high housing costs in major cities but unwilling to commit to going country are exploring a third option: moving to the burbs.

This development is a marked departure from the "back to the city" movement pioneered by millennials in the 2000s and 2010s. However, considering the historical context, moving out of crowded urban areas isn't unprecedented.

Suburbs are as American as apple pie. Armed with postwar GI Bills providing housing assistance and bank accounts bolstered by economic expansion, Americans poured out of cities and into mass-produced suburban Levittowns in the 1950s and 60s. Thus, the American dream of a home with a white picket fence was born.

According to Orphe Divounguy, senior economist at Zillow, young Americans are taking it one step further and moving to the exurbs — communities located past denser suburban areas but still within commuting distance to the metropolitan center.

"These communities strike a balance between suburban amenities while being located less than 90 miles outside of the offerings and thriving job markets of large urban centers like New York City or Boston," Divounguy told Business Insider in an email.

Post-pandemic, millennials, and increasingly, Gen-Z, have been giving up city life for the suburbs and exurbs, partly because they're getting priced out but also because they've developed changing lifestyle habits regarding flexible working arrangements.

"The increase in hybrid work models is likely contributing, leading more people to discover hidden gem cities that they may have previously overlooked when daily commutes were standard," Treh Manhertz, senior economic research scientist at Zillow, wrote in a recent report.

According to the moving company Hire a Helper, cities like New York, San Jose, and Los Angeles were top of the list for cities millennials moved out of in 2023. And between 2021 and 2022, millennials and Gen Z comprised almost two-thirds of the total number of departees from New York, an analysis conducted by Business Insider found.

That's not to say city living is out. Young people are still moving into expensive markets, according to Divounguy, but there's an undeniable proportion of the younger population leaving the cities.

This trend was reflected in 2024 Zillow user preferences. The real estate company analyzed metrics such as page-view traffic, home value growth, and days on market to gauge which housing markets with the highest level of consumer demand. Out of the top 10 most popular housing markets on the site, seven were suburban or exurban locations, which are listed below.

7 exurban communities homebuyers are eyeing

Manchester, New Hampshire

Approximate distance to nearest metro area: 50 miles away from Boston

Stamford, Connecticut

Approximate distance to nearest metro area: 35 miles away from New York City

Columbia, Maryland

Approximate distance to nearest metro area: 20 miles away from Baltimore

Bridgeport, Connecticut

Approximate distance to nearest metro area: 60 miles away from New York City

Allentown, Pennsylvania

Approximate distance to nearest metro area: 60 miles away from Philadelphia

New Haven, Connecticut

Approximate distance to nearest metro area: 80 miles away from New York City

Waterbury, Connecticut

Approximate distance to nearest metro area: 80 miles away from New York City