The Chinese government has announced a 33-point stimulus plan to put the economy back on track.
China has been the biggest source of global economic growth for the past 20 years. And it has long defied predictions that it would soon hit a wall.
- China has vowed retaliation in response to a proposed US diplomatic boycott of the 2022 Winter Olympics in Beijing.
- COVID fatalities in Portugal are on the rise as the tourism season begins.
But, strict COVID lockdowns, a crackdown on tech companies and a real estate slump are challenging the world’s second-largest economy’s expansion. For many financial institutions, growth will fall well short of Beijing’s target of about 5.5 percent this year, for the first time in decades.
Elsewhere, the United Kingdom plans to scrap parts of the post-Brexit trade deal with the European Union. But, can it do so? And how will businesses be affected?