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China's #1 Ambitions Are Fading

11 Sep 20235 minute
China's #1 Ambitions Are Fading

Last week economists' forecasts for global growth this year and next are diverging. China’s trade slump eased in August, with exports and imports falling by less than expected. China's prospects of overtaking the US as the world's biggest economy are diminishing. The Fed hit a key milestone with its quantitative tightening program. The price of Brent oil soared after Saudi Arabia and Russia extended their voluntary supply curbs until the end of the year.

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