Finance

China aims to overtake U.S. GDP growth rate

Chinese President Xi Jinping told officials that the country's economic growth should surpass that of the United States this year, even despite the worst COVID-19 outbreak since the pandemic began.

At the meetings, Xi said that ensuring stability and economic growth is very important, it is necessary to show that China's one-party system is the best alternative to Western liberal democracy, and that the U.S. is in decline both politically and economically.

In response to Xi's call to accelerate growth, Chinese government agencies are discussing plans to accelerate major construction projects, especially in the manufacturing, technology, energy and food sectors, as well as to issue coupons to individuals to stimulate consumer spending, the people said.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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