Marc Filippino

It addresses the energy price shock in the short term, but as the International Monetary Fund points out, it'll also test public finances that are under stress.

The fund warned this month that because many countries already have a lot of debt, they should take a cautious approach to fiscal policy.

China is ordering Meta to unwind a major acquisition.

Beijing is taking issue with the US tech giant's purchase of the AI app Manus.

It bought it earlier this year for $2 billion.

Now, this is a big deal for two reasons.

One, Beijing went beyond its borders to break up that deal.

Manus was founded in China but moved to Singapore last year.

And two, this is an unusually late-stage intervention for China.

It all says a lot about the race for dominance in AI.

I'm joined now by the FT's global tech correspondent, Tim Bradshaw.

Hi, Tim.

Hi, Mark.

So why did China block the deal?

Now, I kind of alluded to this earlier, Tim, but how big of a deal is this for Beijing?

Now, like I mentioned, Tim, this deal was done.

So how easy is it going to be to undo

And what does Meta have to say about China stepping in and breaking this deal up?

Given this drastic measure taken by the Chinese government, what does it tell you about the race to dominate the AI field?

That's the FT's Tim Bradshaw in London.