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Home News Economy

Charting the Global Economy: China Buckling Under Covid Policy

admin by admin
May 22, 2022
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(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Industrial output and retail sales in China slumped, indicating the government’s strict Covid Zero policy is causing the world’s second-largest economy to buckle and helping explain a larger-than-expected cut in a key interest rate.

In the US, firmer retail sales suggest consumers aren’t yet deterred by higher inflation,…



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