China has announced that it will stop publishing figures for youth unemployment, making it more difficult for investors to understand what is happening in the country’s economy. This decision comes as China continues to release bad economic news, with retail sales and industrial production missing forecasts in July. China’s slowdown is impacting global growth, as it was previously forecasted to account for 35% of global growth this year. The lack of transparency in China’s economic data is concerning for international investors, as China has been publishing less economic data since President Xi Jinping came to power. The focus of China’s economic priorities is on state-enterprise-led advances, prioritizing the party line over private enterprises making money. The article also discusses the risks of a weak China, which could lead to a strongman in charge who will do whatever it takes to stay in power. In other news, China hawks in Congress are pushing for increased restrictions on American investment in Chinese tech companies due to national security risks. This crackdown could affect mainstream investors, as lawmakers are investigating fund managers such as BlackRock and MSCI for offering products that invest in Chinese companies on a watchlist. Finally, a landmark court decision in Montana ruled that the state’s failure to consider the impact of climate change when approving fossil fuel projects was unconstitutional. This could have ripple effects on how companies and governments are held accountable for climate change.
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