China is overly dependent on its export and industrial production strength, says Charles Schwab's Michelle Gibley. She believes the country can't continue to rely on either as an international AI arms race poses a threat to its economy. Michelle looks across continents to Europe and explains how banking companies are adding muscle to EU economies while legacy market winners are lagging. However, any pullback in fiscal spending poses a risk to growth. Elevated energy prices are something Michelle sees forcing central banks in the EU to continue hiking interest rates.
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