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Economy

China's Loose Credit Gambit

While other major economies are taking steps to tighten credit, China is acting to cheapen it, in order to revive its economic activity and help big firms repay their debts. But will it fuel global inflation, or worse, stagflation?

​Chinese walk past the People's Bank of China, the country's central bank, in Beijing

Chinese walk past the central bank in Beijing, China

Manuel Romera Robles

-Analysis-

It has recently become clear that Chinese economic growth is losing steam after a third consecutive negative quarter and a fragile 4.9% annual growth rate. This is starkly below China's average historical long-term growth rates and has depressed its stock market values. But China is not a country easily deterred by challenges and has decided to apply the principle that big problems need big solutions.

We are now seeing the world's economic blocks take drastically different approaches. The United States and Europe are envisaging restricting credit flows in the economy by raising interest rates, while China has chosen the opposite: pulling out all the stops to inject cash and increase liquidity.

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Economy

Food Shortages Around The World, Product By Product

The war in Ukraine and the climate crisis have been devastating for food production. Here's a look at some of the traditional foods from around the world that might be hard to find on supermarket shelves.

A customer walking along the aisle of empty shelves in a supermarket

Lila Paulou and McKenna Johnson

The consequences of the invasion of Ukraine by Russia have been far-reaching. A Russian blockade of the Black Sea has meant Ukraine, known as “Europe’s breadbasket,” has been unable to export much of its huge harvests of wheat, barley and sunflower oil.

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So even those thousands of miles from the battlefields have been hit by the soaring prices of basic necessities.

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Central to the tragic absurdity of this war is the question of language. Vladimir Putin has repeated that protecting ethnic Russians and the Russian-speaking populations of Ukraine was a driving motivation for his invasion.

Yet one month on, a quick look at the map shows that many of the worst-hit cities are those where Russian is the predominant language: Kharkiv, Odesa, Kherson.

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