Oct 19, 2018

Chinese economy sees slowest growth since 2009

Photo: Yu Hongchun/VCG via Getty Images

China's economic growth dropped to 6.5% in the third quarter, the Wall Street Journal reports — the weakest it's been since the financial crisis.

The big picture: The economy overall is on track to still meet its growth target of 6.5%, the Journal reports, though the drop in numbers could hurt China's ability to negotiate with the U.S. amid the brewing trade war.

The details: The drop was due to growth "in industrial output and consumption," the Journal writes. Chinese financial officials released statements Friday seeking to ease investors' concerns, with People’s Bank of China Gov. Yi Gang saying the recent “abnormal fluctuations” in the Chinese stock market don’t reflect the country’s “stable financial system.”

What's next: If growth continues to slow, China is "ready to roll out more pro-growth measures," the WSJ reports, doing things like giving banks more money to provide loans and increasing government spending.

Go deeper: The threats posed by a U.S.-China rivalry

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Pelosi warns U.S. allies against working with China's Huawei

Nancy Pelosi on Feb. 16. Photo: Sven Hoppe/picture alliance via Getty Images

House Speaker Nancy Pelosi on Sunday cautioned U.S. allies against allowing Chinese telecommunications giant Huawei to develop their 5G networks, arguing at the Munich Security Conference that doing so is akin to “choosing autocracy over democracy," CNBC reports.

Why it matters: Pelosi's hawkish stance marks a rare area of agreement with the Trump administration, which believes Huawei is a national security threat because the Chinese government may be capable of accessing its equipment for espionage.

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Judge sets "scheduling" conference call ahead of Roger Stone sentencing

Photo: Win McNamee/Getty Images

U.S. District Judge Amy Berman Jackson has requested a Feb. 18 "scheduling" conference call in the Roger Stone case, two days before the former Trump associate is set to be sentenced.

Why it matters: Stone's defense team on Friday filed a sealed motion for a new trial — the second time they've done so — amid allegations of juror bias and a growing controversy over Attorney General Bill Barr's intervention in the case.

Biden says Bloomberg's money can't "erase" his record

Photo: Alex Wong/Getty Images.

Former Vice President Joe Biden said on NBC's "Meet the Press" Sunday that Michael Bloomberg's vast fortune cannot "erase" his record, and that scrutiny of Bloomberg's positions on things like race and policing will ramp up now that he's in the national spotlight.

Why it matters: Biden's polling free fall in the wake of poor performances in Iowa and New Hampshire has coincided with a surge for Bloomberg, who appeals to a similar moderate bloc of the Democratic Party. The billionaire's limitless spending capacity poses an especially stark threat to Biden, who has struggled with fundraising.