UK business confidence tumbles; China’s Xi holds rare meeting with company leaders – business live
Rolling coverage of the latest economic and financial newsUK firms mull biggest layoffs in a decade as business confidence slumpsJack Ma’s presence at today’s meeting with Xi suggests authorities are finally moving past its crackdown on Alibaba, suggests Angela Huyue Zhang, a law professor at the University of Southern California.She told CNN:“With the domestic economy slowing and geopolitical pressures escalating, the government is making it clear that it values and relies on the private sector to drive innovation and stimulate growth.”“It’s a tacit acknowledgement that the Chinese government needs private-sector firms for its tech rivalry with the US.“The government has no choice but to support them if it wants to compete with the U.S.” Continue reading...
Rolling coverage of the latest economic and financial news
Jack Ma’s presence at today’s meeting with Xi suggests authorities are finally moving past its crackdown on Alibaba, suggests Angela Huyue Zhang, a law professor at the University of Southern California.
She told CNN:
“With the domestic economy slowing and geopolitical pressures escalating, the government is making it clear that it values and relies on the private sector to drive innovation and stimulate growth.”
“It’s a tacit acknowledgement that the Chinese government needs private-sector firms for its tech rivalry with the US.
“The government has no choice but to support them if it wants to compete with the U.S.” Continue reading...
