China's economy expanded at a 5% annual pace in 2025, buoyed by strong exports despite U.S. President Donald Trump's tariffs.

However, growth slowed to a 4.5% rate in the last quarter of the year, the government said Monday. That was the slowest quarterly growth since late 2022, when China was beginning to loosen stringent COVID-19 pandemic restrictions. The economy, the world's second largest, grew at a 4.8% annual pace in the previous quarter.

Nearly 3,000 high-level participants from business, government and beyond plus untold numbers of activists, journalists and outside observers are converging in the Swiss town of Davos for the World Economic Forum's annual meeting.

Here's a look at the latest edition of the elite affair in the Alpine snows:

The eight European countries targeted by U.S. President Donald Trump for a 10% tariff for opposing American control of Greenland blasted the move, warning that his threats "undermine transatlantic relations and risk a dangerous downward spiral."

The joint statement by some of America's closest allies signaled a possible turning point in the recent tensions over sovereignty and security nearly 24 hours after Trump's threat.

A court in Moscow on Friday began considering a lawsuit filed by the central bank against Euroclear, the Brussels-based clearing house that holds the bulk of Russian assets frozen by the European Union.

The lawsuit seeks to recover 18.2 trillion rubles ($232 billion) in damages incurred when Russia was barred from managing and disposing of its Euroclear funds and securities, the bank said. The case is being heard behind closed doors.

Shares slipped in Europe after a mixed session Friday in Asia, while U.S. futures edged higher.

Oil prices rebounded after dropping sharply on Thursday.

Taiwan's premier on Friday hailed a new trade deal with the United States as the "best tariff deal" enjoyed by countries with trade surpluses with Washington, as meanwhile a Chinese official in Beijing condemned the accord.

The agreement cuts U.S. tariffs on Taiwanese goods to 15% in exchange for $250 billion in new investments in the U.S. tech industry. It is comparable to deals with the European Union and Japan worked out after President Donald Trump proposed sweeping tariffs for many U.S. trading partners.

Venezuela's acting President Delcy Rodríguez used her first state of the union message Thursday to advocate for opening the crucial state-run oil industry to more foreign investment following the Trump administration's pledge to seize control of Venezuelan crude sales.

For the first time, Rodríguez laid out a vision for Venezuela's new political reality — one that challenges her government's most deeply rooted beliefs less than two weeks after the United States captured and toppled former President Nicolás Maduro.

Canada's Prime Minister Mark Carney announced a deal with China's Xi Jinping on Friday to reduce tariffs on each country's products after the two leaders met in Beijing.

"Canada and China have reached a preliminary but landmark trade agreement to remove trade barriers and reduce, reduce tariffs," Carney told a news conference in the Chinese capital.

On the first trip by a Canadian leader to China in eight years, Prime Minister Mark Carney said Thursday that the two countries are entering a new era of relations.

Carney, who became prime minister 10 months ago, is attempting to repair ties with China following several years of acrimony over issues ranging from Canada's 2018 arrest of a senior Chinese tech executive to 100% Canadian tariffs on China-made electric vehicles.

Germany's troubled economy returned to modest growth last year after two years of falling output, official figures showed, as hopes rise that government spending on bridges, rail lines and defense may help end years of stagnation.

The expansion in gross domestic product of 0.2% for 2025 was fueled by stronger consumer and government spending while exports sagged under the weight of more restrictive U.S. trade policy under President Donald Trump, the German Federal Statistical Office said on Thursday.