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CUSEF Express - January 17, 2022

2022-01-17
Daily highlights of developments that affect China and the U.S.
Daily highlights of developments that affect China and the U.S.

Online Davos Starts

The World Economic Forum holds the virtual Davos Agenda 2022 from Jan. 17 to Jan. 19, with Chinese President Xi Jinping and U.S. Secretary of the Treasury Janet Yellen delivering speeches there. German Chancellor Olaf Scholz, Japanese Prime Minister Kishida Fumio, and Indian Prime Minister Narendra Modi will also speak at the event.

China’s Economy Grew 8.1% in 2021

Chinese GDP in 2021 expanded 8.1 percent from a year earlier, topping the above-six-percent target set by the government. On Monday, the People’s Bank of China cut the rates of its one-year medium-term lending facility (MLF) loans and seven-day reverse repurchase agreements (repos) by ten basis points, the first of such adjustment since April 2020.

Volcano Eruption near Tonga

An underwater volcano near the Pacific nation of Tonga erupted on Saturday, causing tsunamis across the Pacific. Study shows that massive volcanic eruptions could affect the global climate. But the final impact of this eruption is just starting to become known.

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