Chancellor Rachel Reeves has begun a week-long trip to China, emphasizing the need for 'confident' engagement with the country despite criticism over her timing. Reeves aims to discuss trade and investment opportunities while addressing concerns about market access and practices. The visit comes as UK borrowing costs hit a 27-year high and concerns over the 'flatlining' economy grow.
Rachel Reeves has said the UK has "no choice" but to engage "confidently" with China, as she arrived in Beijing to begin what she described as "financial dialogue" between the nations. "National security and growth are not opposed," the Chancellor said on Friday as she began her much publicised trip alongside financial officials.A meeting with China’s finance minister Lan Fo’an marked the start of her week-long trip to Beijing and Shanghai.
"I think it needs to be put into some perspective about what's happening in the world as a whole," he told Ian Dale."The pound has not fallen since the budget, other than against the same strengthening dollar that has strengthened against everything else."The pound against the euro is the same today as it was on budget day... the pound has hardly moved against the Yen, so the commonality is that everything has weakened against the dollar.
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