Yesterday Jean-Claude Junker confirmed plans to screen foreign takeovers of EU companies saying, ‘Europe must always defend its strategic interests’. Perhaps the risk of Chinese takeovers has already receded as August data from that country this morning was weaker than expected. Fixed-asset investment grew by only 7.8 per cent year to date, its slowest since 1999. Factory output was just 6.0 per cent Y/Y, its lowest in nine months. And retail sales dipped to 10.1 per cent from 10.4 per cent previously.
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