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The 2024 GDP target has been set at around 5%, despite economic challenges at home and worldwide Chinese Premier Li Qiang on Tuesday unveiled the country’s economic development program for 2024, promising steps to “transform” the national growth model and eliminate risks brought about by a recent slew of bankruptcies in the property sector.

US President Joe Biden and House Speaker Kevin McCarthy have reached a “tentative” agreement on raising the country’s debt ceiling and curbing federal government spending, following a lengthy phone call on Saturday evening. The bill, however, must be finalized and voted through Congress before the government runs out of cash to pay its bills.