The News
The UK resumed high-level economic talks with China after a six-year hiatus.
British finance minister Rachel Reeves’ trip to China reflected the Labour government’s self-described “pragmatic” approach to Beijing, with the aim of striking long-term economic deals.
It’s a marked change from the previous Conservative government, which hardened London’s stance over human rights, Hong Kong, and spying allegations.
Critics, however, said Reeves shouldn’t have prioritized outreach to Beijing over market turmoil at home: UK investors are increasingly concerned over the Labour government’s ability to deal with the country’s stagnant economy and high borrowing costs.
10-year bond yields hit their highest level last week since 2008, while the pound sank to a 14-month low.
