China Elects New Economic Team As President Xi Kicks Off Second Term
China elevated a key confidante of President Xi Jinping to one of the top positions in government on Monday as Beijing cracks down on riskier financing and a debt to reduce systemic risks to the world’s second-largest economy. The election of Liu He by parliament to be a vice premier also comes as the United States presses China to cut its trade surplus by $100 billion. Harvard-educated Liu, 66, was the most prominent envoy to visit Washington recently in a bid to prevent the outbreak of a trade war. While most of the personnel changes…
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