Chinese Communist party marks milestone in its rule but relatively low-key commemorations are indicative of national slump
Xi Jinping makes a toast marking the 75th founding anniversary of the People's Republic of China, at the Great Hall of the People in Beijing.Xi Jinping makes a toast marking the 75th founding anniversary of the People's Republic of China, at the Great Hall of the People in Beijing.
China is the world’s second-largest economy and second most populous nation but has struggled to bounce back after the Covid-19 pandemic and– two of the biggest drivers of an economic downturn that is also affected by an ageing population and low consumer spending. “Taiwan is China’s sacred territory, and the people on both sides of the Taiwan Strait are connected by blood, and blood is thicker than water,” Xi said during the speech, according to China’s state media. “No one can stop the wheel of history.”
On Sunday the US government approved the biggest military sales package to date: US$567m worth of weapons, training, and logistics support.
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