U.S. Inflation Hits Four-Decade High | With energy and food prices hiking, the U.S. annual inflation speeded up to 8.5% in March, the highest since 1981, as the Producer Price Index (PPI) jumped 11.2% in the same month, breaking a record from 2010. U.S. President Biden blamed Russia for the inflation in the U.S. and the world, as the soaring prices topped the concerns of Americans.
China Aims for a Unified National Market | China goes one step forward to enhance its domestic circulation by introducing a plan for a "Unified National Market" in order to cushion the impacts of external uncertainties. Commentators expect the move to improve the efficiency of the domestic supply chain and create a better business environment for companies.
China Sticks to Dynamic Zero-Covid | President Xi made it clear that China should stick to the dynamic zero-covid policy during his trip to Hainan, as Shanghai began to lift restrictions on its weeks-long covid lockdown due to an improved situation. Earlier this week, the U.S. State Department ordered all non-essential U.S. staff to evacuate Shanghai over safety and welfare concerns during the outbreak. The Chinese Foreign Ministry rejected the arrangement, calling it “politicization and instrumentalization” of personnel departure.
