The Chinese post-Covid economic recovery suffers a setback with factory activity shrinking for the first time in 18 months. Also in China, a new data security law launches as part of Beijing’s efforts to regulate the country’s internet future. In South Korea, a new bill is passed which will limit Apple and Google’s ability to control app store payments. OPEC and its allies have predicted that oil markets could tighten towards the end of the year but will see a surplus in 2022 as supply cuts are lifted. And in the U.S., President Biden doubles own on his decision to withdraw the military from Afghanistan, heralding an end to U.S. nation-building.

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