China can't seem to shake off its post-COVID economic slump. Will that weakness backfire on the American economy? CNBC reported that the People's Bank of China cut interest rates this week in an effort to spur economic growth, amidst a "confidence crisis" that has seen exports fall dramatically, factory production slow down, and housing sales crater. "In a crisis such as this … you can't really call it a consumption crisis or investment crisis," one economist told the network. "It's really a confidence crisis."
Read Full Article »
