The world this week

摘要

America's Congress at last passed a deal that avoids the "fiscal cliff" of automatic spending cuts and tax rises, although the frantic round of negotiations continued past the deadline into New Year's Day. Under the deal, taxes will rise for individuals who earn over $400,000-a retreat from Barack Obama's preferred level of $250,000, but still anathema to many Republicans. Markets were relieved, though another political fight looms over raising the limit on America's debt ceiling.