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Hi Reader, here's what you need to know for September 28th in 3:09 minutes.

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Today's big stories

China’s growth is set to fell behind the rest of Asia for the first time in three decades
Where to find opportunities in the UK market crisis – Read Now
Global dealmaking has fallen off a cliff

China’s Looking Frail Next To Hale and Hearty Neighbors

What’s Going On Here?

Projections out on Tuesday suggested that China’s growth will fall behind the rest of Asia for the first time in over three decades.

What Does This Mean?

In the immediate wake of Covid, China seemed to be at the forefront of the world’s recovery from the pandemic. But a lot has changed since then: the country’s strict zero-Covid approach – which depends on snap lockdowns and mass testing – has restricted movement and left consumer activity pretty depressed. And when you consider too that China’s all-important property sector – which makes up about 30% of the economy – is taking a worse bruising than Olivia Wilde’s "Don't Worry Darling", it’s no wonder the World Bank now predicts the Chinese economy will grow just 2.8% this year. For the rest of Asia, though, things look comparatively rosy: high commodity prices (good news for exporters) and a strong rebound in domestic demand mean it's expected to grow by a healthy 5.3% this year.

Why Should I Care?

Zooming in: The world’s watching its wallet.
China’s woes don’t end there. You see, with recession fears (and in some cases, actual, full-blown recessions) setting in, China’s exports are taking a hit. That’s worrying for a country that typically relies on exports to fuel growth, but the numbers don’t lie: Shanghai’s port processed 8% less cargo this August compared to last August – a dropoff that’s contributed to plunging shipping costs from China, which are now at their lowest in over two years (tweet this).

The bigger picture: A silver lining for everyone else.
It’s a dog-eat-dog world out there, and China’s difficulties present the country’s trading partners with plenty of opportunities – specifically the countries China exports to. See, falling demand should ease some of the congestion that’s been plaguing global supply chains, while lower shipping costs could help to cool inflation globally too.

You might also like: China’s economic support plan had one job, and it’s probably failed.

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Analyst Take

The Winners And Losers From The UK Market Turmoil

By Russell Burns, Analyst

It’s been a rough year for UK investors. And this week: it’s been one for the books.

The British pound plunged to all-time lows and the country’s borrowing costs surged as investors reacted to the government’s new tax cuts and the challenge facing the country’s central bank.

And that was just… Monday.

All this turbulence is likely to be with us for a while, so let’s take a look at the market winners and losers it’ll likely create along the way.

That’s today’s Insight: who wins and who loses in the UK’s market turmoil.

Read or listen to the Insight here

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