UK Chancellor Rachel Reeves calls for confident trade engagement with China during Beijing visit

UK Chancellor Rachel Reeves has arrived in Beijing, emphasizing the need for confident trade engagement with China. She stated that avoiding interaction is not an option, despite ongoing economic challenges at home, including rising government borrowing costs. Reeves plans to discuss trade and investment with Chinese officials, addressing contentious issues like democratic values and China's support for Russia. The UK government acknowledges that while it seeks to reset relations, disagreements will persist. The Chancellor's visit comes amid market volatility, with UK bond yields reaching their highest levels since 2008. She may consider further spending cuts to manage the economy, having ruled out tax increases or additional borrowing.