News Snapshot:
BEIJING (Agencies): China’s economy risks slowing faster than investors realize as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from education to technology combine with a power shortage and the pandemic. Bank of America Corp. and Citigroup Inc. are among those sounding the warning that expansion will fall short this year of the 8.2 per ent anticipated by the consensus of economists. The slump could last into next year, forcing growth below 5 per cent, they warn. Outside 2020’s 2.3 per cent, that would be the weakest in three decades. Massive restructuring Strategists at...
