Developing countries in Asia, for the first time in more than 30 years, will grow faster than China, according to a new report by the Asian Development Bank. The bank forecasts China’s annual growth rate this year to be just 3.3% compared to 4.3% for developing countries in the region. ADB analysts attributed the slowdown in China’s economy to a range of issues, notably the lockdowns brought on by the country’s zero-COVID policy. (NIKKEI ASIA)
Israel and China could sign a free trade deal before the end of this year, according to Amir Lati, Israel’s Consul General in Hong Kong. If signed, the deal would be China’s first free trade agreement in the Middle East, and would likely rile the United States. (SOUTH CHINA MORNING POST)
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