News Snapshot:
China's economy contracted sharply in the second quarter of this year as widespread coronavirus lockdowns hit businesses and consumers. Gross domestic product (GDP) fell by 2.6% in the three months to the end of June from the previous quarter. Major cities across China, including the major financial and manufacturing centre Shanghai, were put into full or partial lockdowns during this period. This comes as the country continues to pursue its "zero Covid" policy. On a year-on-year basis, the world's second-largest economy expanded by 0.4% in the April-June quarter, missing expectations of 1% growth. "Second quarter GDP growth was the worst...
