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link : Chinese President Xi Warns Against 'Black Swan' And 'Grey Rhino' Events
Chinese President Xi Warns Against 'Black Swan' And 'Grey Rhino' Events
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FILE PHOTO: China's President Xi Jinping is seen on a screen in the media center as he speaks at the opening ceremony of the third China International Import Expo (CIIE) in Shanghai, China November 4, 2020. REUTERS/Aly Song
ABC News (Australia): Chinese President Xi Jinping warns against 'black swans', 'grey rhinos' amid economic downturn
China must be on high alert against "black swan" and "grey rhino" financial events in the face of a slowing economy, President Xi Jinping told senior members of the Communist Party faithful.
State news outlet Xinhua said Mr Xi instructed officials to "prevent and defuse major risks" across a range of fields — politics, ideology, society, science and technology — to "ensure a healthy economy and social stability".
A "black swan" is an unpredictable market event with extreme financial consequences, while a "grey rhino" is a large, visible threat that goes ignored.
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WNU Editor: A “black swan” event refers to an unforeseen and unlikely occurrence that typically has extreme consequences, while a “grey rhino” is a highly obvious yet ignored threat. (Reuters).
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