China faces multiple challenges amid ‘rising uncertainties’

By KEN MORITSUGU
Associated Press

BEIJING (AP) — A top Chinese leader has warned of “rising uncertainties” and pledged tax cuts to shore up growth. The potential economic and geopolitical fallout from Russia’s invasion of Ukraine loomed over an annual meeting of China’s ceremonial legislature. Premier Li Keqiang described the situation in Ukraine as “grave” and said the pressing task is to prevent the crisis from escalating and getting out of control. On China’s economy, he said that after an 8.1% expansion last year, achieving a growth target of 5.5% this year would not be easy. China has stood apart from much of the world in refusing to condemn Russia’s military action. widening a rift with the United States and Europe.