China’s central bank lowered the proportion of funds (SCMP) that banks are required to hold in reserve, a surprise move (CNBC) that acknowledges the difficulties the Chinese economy still faces in emerging from its pandemic-induced slump.
In Foreign Affairs, Daniel H. Rosen discusses China’s economic reckoning.
Japan: All Olympic events in and around Tokyo will be held without spectators (Kyodo) due to rising COVID-19 case levels, organizers said.