Day: September 5, 2022

Your Tuesday Briefing: Liz Truss Selected to Lead Britain

Chin@Strategy

Liz Truss is chosen to lead Britain Liz Truss will formally assume the prime minister’s title in a meeting today with Queen Elizabeth II at Balmoral Castle in Scotland. The hawkish foreign secretary will assume power as Britain faces its gravest economic crisis in a generation. Household energy bills are set to spike by 80 percent, and some economists predict that inflation will top 20 percent by early next year. In a speech, she promised a “bold plan to cut taxes,” but many believe Truss will have to announce sweeping…

China puts 65m people into semi-lockdown ahead of party summit

Chin@Strategy

China has intensified its efforts to rein in outbreaks of Covid-19 ahead of a major political meeting by placing about 65 million people under semi-lockdown, according to local media reports. The Chinese Communist party will begin its 20th congress on 16 October, with party chief Xi Jinping widely expected to be reinstated as president for a third term. According to a report on the business portal Caixin, 33 Chinese cities – including eight major provincial and municipal centres – have been placed under China’s lowest “static management” tier of lockdown,…

China earthquake kills 21 as tremors shake locked-down Chengdu

Chin@Strategy

At least 21 people have been killed in a strong earthquake that struck south-western China and was felt by millions of people confined to their homes under a strict Covid lockdown in Chengdu. The 6.6-magnitude quake hit about 26 miles (43km) south-east of the city of Kangding at a depth of about six miles, the US Geological Survey (USGS) said. Fourteen people died in Shimian County and seven were killed in nearby Luding County, while more than 30 were injured, according to the state broadcaster, CCTV. Tremors also shook buildings…

China Imposes More Covid Lockdowns, Stoking Anxiety

Chin@Strategy

In the hours before the southern Chinese city of Chengdu entered a coronavirus lockdown, Matthew Chen visited four vegetable markets in an attempt to stock up on fresh food. But seemingly the entire city had the same idea, and by the time he got to each place, most of the shelves had been stripped bare, except for hot peppers and fruit, he said. Mr. Chen, a white-collar worker in his 30s, managed to scavenge enough cherry tomatoes, meat and greens for about one day, and since then has been ordering…