One after another, the companies began to crumble as they could not pay their bills. More than 50 Chinese property developers have defaulted or failed to make debt payments in the last three years, NYT reported citing credit ratings agency Standard & Poor’s.
In a short span of 10 years, India has gained positions in the world order with significant positive consequences for the macro and market outlook, Morgan Stanley Research has said in a report.
The Indian economy is on track to surpass 7 per cent growth rate in Fiscal Year 2023 with manufacturing being the key driver, according to a report released by the State Bank of India.
Earlier, the Dutch government said that they have imposed restrictions on the export of chip manufacturing equipment and raw materials used in chip making to China.
In a recent piece, the Wall Street Journal advised Americans to forgo breakfast to save money. The WSJ suggestion was not well received by American netizens, who slammed the media outlet for presenting such a ridiculous idea. Additionally, they blamed the Biden administration for failing to rein in the country's spiralling inflation.