Rishi Sunak will be named the U.K.’s new prime minister, following a fast-tracked Conservative Party leadership race initiated to fill the void left by Liz Truss’ resignation.
In remarks Sunday, Xi emphasized the Party’s leadership in “a new journey to turn China into a modern socialist country,” according to an official translation.
But the new list for China’s central committee left off several officials with more market-leaning tendencies.
“Overseas investors are likely to see this political volatility as another reason to get out of U.K. assets,” one strategist told CNBC.
U.K. Prime Minister Liz Truss resigned following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party.
Truss described her U-turn on tax cuts as “in the national interest to make sure that we have economic stability.”
Just six weeks into U.K. Prime Minister Liz Truss’ tenure and the political future of yet another Conservative leader looks to be in jeopardy.
U.K. Prime Minister Liz Truss is facing calls to resign from within her own Conservative Party just six weeks after entering Downing Street.
Chinese President Xi Jinping said China reserves the option of “taking all measures necessary” against “interference by outside forces” on the issue of Taiwan.
The Federal Reserve’s campaign to tame high inflation here in the U.S. has been felt around the world.