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Challenging Week Ahead
Three macro considerations are shaping the investment climate: the evolution of the virus and the response, the timeframe of the Fed's tapering, and China's broad regulatory crackdown. Beijing's new policy initiatives are broader and quicker than generally anticipated. Officials seem to be opening up several different fronts, including anti-trust, data protection, discourage foreign capital raising, and private education reform. The common element is reining in what officials may see as excesses. It dovetails with other efforts seeking to strengthen the Communist Party's command and control functions. Beijing seemed ... (full story)