Business Brief (May 21): U.N. Cuts Global Growth Forecast

Published: May. 21, 2026 6:33 p.m. GMT+8

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U.N. cuts growth forecast

The United Nations lowered its 2026 global economic growth projection to 2.5% from 2.7%, citing Middle East conflicts that have slowed growth, fueled inflation and heightened global uncertainty. The report expects global inflation to reach 3.9% this year.

China, Russia issue joint statement

China and Russia agreed to extend the Treaty of Good-Neighborliness and Friendly Cooperation to deepen bilateral relations. Both sides reaffirmed their commitment to maintaining global strategic balance and stability.

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Explore the story in 30 seconds

U.N. lowers 2026 global growth forecast to 2.5% from 2.7%, citing Middle East conflicts and inflation expected at 3.9%.
China and Russia agree to extend Treaty of Good-Neighborliness and Friendly Cooperation.
China’s commerce ministry affirms export controls on critical minerals, expresses willingness for U.S. cooperation.

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