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China may kill market’s bullish recovery
The world’s second-largest economy suspended guidance on its gross domestic product for the first time in 25 years, citing pressures from the coronavirus and trade tensions. For China’s leaders, the economic uncertainty creates political vulnerability. Given that the legitimacy of the Chinese Communist Party comes from the twin pillars of unbridled economic growth and fierce defense of China’s national interests, nationalism grows as economic clouds gather. The National People’s Congress (China’s rubber-stamp parliament) advanced new laws for Hong Kong that outlaws subversion, sedition and foreign ... (full story)
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