Liu He Speaks At Davos, Meets With Yellen | China's Vice Premier Liu He spoke at the World Economic Forum in Davos on Tuesday, urging countries to leave behind Cold War thinking and improve diplomatic relations. Liu expressed optimism about China's economy, forecasting a return to normal in 2023. On Wednesday, Liu met with U.S. Treasury Secretary Janet Yellen in Zurich. Both parties agreed to increase communication around macroeconomic and financial issues, such as climate finance.
U.S. Treasury Secretary Visits Africa | U.S. Treasury Secretary Janet Yellen has embarked on a 10-day trip to Africa, which includes stops in Senegal, Zambia, and South Africa. The trip will be focused on trade expansion, investments, and reiterating the U.S. commitment to Africa’s economy. U.S. experts see Africa as a crucial influence on the global economy in the coming decade, and President Biden and Vice-President Harris are expected to visit the continent later this year.
China’s Reports Growth Performance | According to economic reports, China's economy grew at a rate of 3% in 2022, which is the second lowest growth rate in the past 40 years. The ongoing Covid-19 pandemic and decline in the real estate market have had a negative impact on China's economy. However, experts predict that the GDP outlook for 2023 has improved, as retail sales and industrial production have exceeded expectations in the last year.
