UK finance minister defends China trip, cites potential trade growth

Britain's finance minister, Rachel Reeves, defended her trip to China amid rising interest rates at home. She emphasized that "pragmatic and predictable" ties with Beijing could enhance growth and trade, aiming to revive talks that have stalled for nearly six years. Reeves stated that reengaging with China could bring $730 million in trade benefits over five years. China is currently Britain's fourth-largest trading partner. She also noted that decisions regarding tariffs on Chinese imports would be made in the national interest. The recent rise in British interest rates has drawn comparisons to the 2022 crisis that led to the resignation of former Prime Minister Liz Truss. However, current market movements have been less severe, with no significant strain on investors reported.