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Chinese authorities have launched disciplinary investigations into Fang Xinghai, the former vice chairman and CSRC member, for suspected serious violations of law and party discipline, with the CCDI and the National Commission of Supervision leading the probe. This ongoing action signals Beijing's continued crackdown on senior financial officials as it seeks to stabilize the capital markets.
World Bank Chief Economist Indermit Gill warns that a protracted US-Iran clash could shrink global growth to about 1.3% in 2026, with inflation near 4.5% as energy prices surge and trade routes and supply chains are disrupted, prompting higher policy rates. The fallout would hit vulnerable, debt-burdened economies hardest by squeezing essential public services and raising borrowing costs, with spillovers for energy, commodities, and global markets as fertilizers, helium, and sulfur supplies are disrupted.
