News Snapshot:
HONG KONG (BLOOMBERG) – China’s economy risks slowing faster than investors realise as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combines with a power shortage and the pandemic. Bank of America and Citigroup are among those sounding the warning that expansion will fall short this year of the 8.2 per cent anticipated by the consensus of economists. The slump could last into next year, forcing growth below 5 per cent, they warn. Outside last year’s 2.3 per cent , that would be the weakest in three decades. Strategists at...
