Those who believe the world economy can avoid the hardest of landings next year are watching China closely to see whether its move to loosen pandemic restrictions will help that scenario come about or end up wrecking it.
for this year and next, listing the impact of the abrupt loosening of strict COVID-19 containment measures alongside other factors including its shaky property sector.
That would in turn bolster the belief of policymakers in Group of Seven countries that their interest rate hikes will end up taming inflation and that any"If you look forward six months to the exit of the COVID wave ... we'll be getting to a point where China just like everyone else gets to live with COVID," said Mike Gallagher, director of research at Continuum Economics.
"It's hard to say ... how those two will offset each other," Fed Chair Jerome Powell told reporters last week after the U.S. central bank's latest interest rate hike.
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