China's president argues against rate hikes

President Xi Jinping said human development has fallen because of covid. (Image: Xinhua News Agency)

Tue, 18 Jan 2022

China's President Xi Jinping has warned the United States and Europe that a rapid rise in interest rates would "slam on the brakes" of the global recovery.Xi said that developing markets would bear the brunt of the resulting economic downturn."We must do everything necessary to clear the shadow of the pandemic and boost economic and social recovery and development," Xi told the World Economic Forum at Davos, Switzerland, although it is being held virtually because of the covid pandemic.Financial markets have already pric...

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