Surging costs, supply chain disruption and a strong yuan combine to slow China’s November export growth. Troubled Chinese property giant Evergrande appears on the verge of bankruptcy with some foreign bondholders reportedly not receiving payments. We hear from IMF Managing Director, Kristalina Georgieva, who says that the fund may downgrade eurozone growth forecasts due to the Omicron variant restrictions and high inflation. In the U.S. the Dow claws back last week’s losses as investors shrug off Omicron concerns. And tensions between Washington and Beijing increase after the U.S. announces a diplomatic boycott of the Winter Olympics citing human rights concerns.

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