News Snapshot:
The risks of the Chinese economy slowing faster than investors realize as pressure from President Xi Jinping to reduce his reliance on real estate and regulate the tech education sectors combines with a power shortage and the pandemic. Bank of America and Citigroup are among those sounding the warning that the expansion will be below the 8.2% expected by the consensus of economists this year. The crisis could last until next year, forcing growth below 5%, they warn. Outside of 2020’s 2.3%, that would be the lowest in three decades. Bank of America strategists believe Xi might even embrace a...
