Chinese institutions cooperate to stave off a downturn. China’s Finance Ministry, central bank and National Development and Reform Commission (the country’s top economic planning agency) seem to be working together to help keep the economy moving – a change from earlier this month. On Wednesday, China’s central bank said it had injected $37.9 billion into the banking system, following the National Development and Reform Commission’s recent call for banks to increase medium- and long-term loans to private companies. The Finance Ministry also announced its plans to implement large-scale tax cuts and to reduce social insurance fees for employers. Chinese news agency Xinhua warned, however, that growth may slow down because of these cuts. It seems the government is preparing the Chinese public for a downturn.
Turkey pushes for safe zones. On Thursday, Turkish Foreign Minister Mevlut Cavusoglu said Turkey could create safe zones in Syria on its own but would include Russia and