China’s economy rebounds after steep slump, but US tensions, weak consumption raise challenges , East Asia


Source: straitstimes.com straitstimes.com

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BEIJING (REUTERS) - China’s economy returned to growth in the second quarter after a deep slump at the start of the year, but domestic consumption and investment remained weak as the shock from the coronavirus crisis underscored the need for more policy support to bolster the recovery. Asian share markets fell, partly reflecting the broad challenges facing the world’s second-largest economy as it tries to regain its footing and deal with heightened tensions with the United States on trade, technology and geopolitics. Gross domestic product (GDP) rose 3.2 per cent in the second-quarter from a year earlier, the National Bureau...