Stock Market Today: Global economy, Beijing panic buying, Oil logjams – Bloomberg

With major advances in missile technology, naval forces and intelligence, China is well on its way to becoming what President Xi Jinping calls a “world-class” military power by 2049.
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Richard Henderson
Good morning. War slows the global economy, panic buying in Beijing and Twitter welcomes back suspended accounts. Here’s what people are talking about.
The world economy will be as weak next year as it was in 2009 after the financial crisis as the conflict in Ukraine risks becoming a “forever war,” the Institute of International Finance said. Global growth will expand 1.2% while the Eurozone will contract 2% as the war drags on. “The severity of the coming hit to global GDP depends principally on the trajectory of the war in Ukraine,” IIF analysts wrote.

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