China Cuts Growth Goal, Aims to Reverse Slump

China’s economic growth is taking a hit. The country cut its annual economic growth target to its lowest level in decades, as Russia’s invasion of Ukraine pushed up oil prices. The goal is already down from last year’s more than 8-percent goal. Growth forecasts from the International Monetary Fund and private sector economists paint a bleak picture for China’s economy, estimating a growth rate as low as 4.3 percent this year.