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29.07 - 15:45
China Set to Post the Slowest Growth in Two Years on Zero-Covid Policy
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SINGAPORE—China is expected to record its weakest growth rate in more than two years, a measure of the costs imposed on the world’s second-largest economy by Beijing’s zero-tolerance approach to Covid.
Retail sales and industrial production slowed sharply as Chinese authorities imposed lockdowns in Shanghai and other parts of the country. Unemployment is stubbornly high, real estate is slumping and exports are likely to weaken as Western economies shift into lower gear.
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