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A worker disinfects the Sanlitun shopping complex in Beijing in June as stores in the area were closed for three days after a Covid outbreak. There's greater caution on China this year, as stringent Covid controls drag on and as growth takes a backseat. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. Kevin Frayer | Getty Images News | Getty Images BEIJING — China is no longer just another emerging market play. Now, the country is becoming its own beast — with all the risks and rewards that come with being a world power. There's greater caution on China this year, as stringent Covid controls drag on and as growth takes a backseat. Analysts note longer-term trends of China's reduced dependency on foreign investment and intellectual property. That's all on top of Beijing's crackdown on the internet tech sector and real estate developers in the last two years. Foreign investors are reacting. The sh...

Former Finance Minister Rishi Sunak or current Foreign Secretary Liz Truss will be announced as the U.K's new prime minister later Monday. Dan Kitwood / Staff / Stringer / Getty Images LONDON — The next prime minister of the U.K. will be announced Monday following a grueling, and at times bitter, leadership contest within the ruling Conservative Party. The announcement is expected at 12:30 p.m. London time and will be delivered by Graham Brady, the chair of the 1922 Committee, which is a group of Conservative Members of Parliament who aren't government ministers. The leadership election was triggered when current Prime Minister Boris Johnson announced he would be resigning on July 7. It came after a wave of ministers and backbenchers resigned, with many voicing a lack of confidence in their party leader. Johnson has stayed on as caretaker PM while the party decided between the candidates. He has not yet formally resigned from office, as he must first attend an audience with Qu...