Tag: energy crisis
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Goldman Sachs cuts its China GDP forecast for 2021, warning the economy’s energy crunch is yet another growth shock
Wang Jilin / Costfoto/Barcroft Media via Getty Images Goldman Sachs lowered its 2021 GDP growth forecast for China to 7.8% from 8.2%, blaming energy constraints. Pressure to meet environmental targets has affected 44% of China's industrial activity, its economists said. Evergrande-related risks to the property sector and regulatory clampdowns are other headwinds to the economy.…
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Global stocks fall as oil hits a 3-year high and China’s energy crunch fans fears of inflation
Wang Ying/Xinhua via Getty Images Global stocks fell Tuesday as China's energy shortage hit factories, a risk to the supply of goods. That shortage and a natural gas squeeze helped drive Brent crude's price above $80 a barrel. Soaring Treasury yields were weighing on US stocks, with techs under particular pressure. Sign up here for…