China's economy contracts in Q2, raising fears of a recession.

China's economy contracts in Q2, raising fears of a recession. China's economy contracted by 0.4% in the second quarter of 2023, the first time it has done so since the onset of the COVID-19 pandemic. The slowdown was driven by a number of factors, including the ongoing COVID-19 lockdown in Shanghai and other parts of the country, as well as a slowdown in global demand. [Source: The Financial Times]
Sri Lanka declares state of emergency as economic crisis worsens. Sri Lanka has declared a state of emergency as its economic crisis worsens. The country is facing a severe shortage of food, fuel, and other essential goods, and the government has been unable to pay its debts. The state of emergency gives the government sweeping powers to crack down on protests and dissent. [Source: The Guardian]
North Korea fires suspected ballistic missile into the sea. North Korea has fired a suspected ballistic missile into the sea. The launch comes just days after the country's leader, Kim Jong-un, warned of a "stronger and more sophisticated" nuclear deterrent. The launch is a violation of UN Security Council resolutions, and it raises concerns about North Korea's nuclear and missile programs. [Source: Reuters]
Hurricane Bonnie weakens to tropical storm as it moves over Mexico. Hurricane Bonnie has weakened to a tropical storm as it moves over Mexico. The storm made landfall in the southern state of Oaxaca on Saturday as a Category 2 hurricane, but it has since lost strength. Bonnie is expected to continue to weaken as it moves inland, but it could still bring heavy rains and flooding to parts of Mexico. [Source: The Associated Press]
Thousands of people flee flooding in Bangladesh. Thousands of people have been forced to flee their homes due to flooding in Bangladesh. The flooding has been caused by heavy rains, and it has affected over 2 million people in the country's northeast. The government has called for international assistance to help with the relief efforts. [Source: The Daily Star]
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