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WASHINGTON (AP) — In the Chinese city of Shanghai, two young women seeking an education abroad have both decided against going to the United States, a destination of choice for decades that may be losing its shine.
Asian markets retreated Friday, with Hong Kong’s benchmark falling nearly 2%, after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon.
Asian shares were trading mixed Thursday, after Wall Street recovered some losses from the day before.
China's Cabinet on Wednesday appointed markets veteran Wu Qing as chairman of the China Securities Regulatory Commission, state media Xinhua said, replacing Yi Huiman to navigate Beijing through the turbulent waters of a market downturn. Nicknamed the "Broker Butcher" for his crackdown on traders, Wu was previously the acting vice mayor of China's major financial hub Shanghai and served nearly two years as chairman of the Shanghai Stock Exchange. His predecessor, Yi, took the mantle of the CSRC in 2019, tasked to undertake a spate of sweeping capital markets reform
China accused the U.S. of abusing international law with its military maneuvers in the western Pacific, one day after an American naval destroyer sailed through the politically sensitive Taiwan Strait.
David Cameron has been urged to take a more hawkish stance on China following the warm welcome his return to Government has had in the state's media.