News Snapshot:
China’s top leaders said the economy was facing “new difficulties and challenges" in a meeting of the 24-person Politburo on Monday. The country’s highest-ranking officials gather annually at the end of July to review the economic situation before their traditional summer break in August. This year, they met as the post-Covid recovery in the world’s second-largest economy was running out of steam, due in large part to sluggish consumer spending. “The meeting pointed out that the current economic operation is facing new difficulties and challenges, mainly due to insufficient domestic demand, operational difficulties for some enterprises, high risks and hidden...
