News Snapshot:
Indeed, China’s President Xi Jinping early this year warned the West that lifting rates too much too fast would endanger the global economy. “If major economies slam on the brakes or take a U-turn in their monetary policies, there would be serious negative spillovers,” Xi told the World Economic Forum’s virtual Davos event in January. “They would present challenges to global economic and financial stability, and developing countries would bear the brunt of it.” Xi’s view was seen as self-serving, given China is a big lender to the developing world and doesn’t want to take the unpopular move of forcing...
