China’s economic recovery continued to lose steam in the second quarter of 2023, prompting urgent calls for more stimulus from Beijing. Last year, harsh Covid-19 lockdowns wreaked havoc in the world’s second largest economy, including in the financial hub of Shanghai. - CFOTO/Future Publishing/Getty ImagesThe waning recovery has prompted Beijing to introduce some stimulus measures, but “more is desperately needed,” Cruise added. The Chinese yuan weakened after the release of the economic data. Four challengesThe Chinese economy faces a number of challenges.

Source: CNN July 17, 2023 03:50 UTC