Discussion. Great. Lets get started. Since thesi outbreak of the covd pandemic, a faceting debate has emerged about the potential impact of the coronavirus on the global order. Some experts are maintaining the virus will have a transformative effect. For example, doctor Henry Kissinger has written the world will never be the same after the coronavirus, andy ward that the pandemic could up in the global order. And then there are people like professor joan i who contends that the pandemic is unlikely to be a a political turning pointd he believes many aspects of globalization will endure and suggest despite u. S. Mishandling of the pandemic that the balance of hard power and soft power will night shift fromm the unitd states to china which is of course part of the debate. Id like to start with a broad question. Do you think, congressman bera, that the pandemic will affect the global order inconsequential ways . If so, how . I certainly think this is the Largest Global disruption with had
Also his rhetoric reiterated when it comes to china, saying china should have kept the virus where it was and could have stopped this virus spread. These are the latest lines coming through, the president saying trump the u. S. Can deal with the flareups. We are seeing with stocks we are basically coming off some of the lows but still heading lower today, u. S. Futures extending losses to more than 1 now. Jakarta coming online. We have a Bank Indonesia decision today, expect some type of rate cut. When it comes to india we are watching the standoff on the border with china. Besides continue to talk. They are pledging to deescalate after the deadly clashes. Here is what we are watching out for, not a lot of catalysts. Looking at the dollar, it is very much on the stronger side and youre seeing the likes of the aussie dollar reacting to those unemployment numbers which was a big miss. U. S. 10year yield, seeing bonds that are up as well and the china 10year yield is what we are watching
A new brexit deal. And the Nobel Laureate Toni Morrison, whose books examined the history of black life in america, has died at the age of 88. Hello and welcome im katty kay in washington and Christian Fraser is in london. The trade war is between china and america both sides showing they have financial weapons and are prepared to use them. But its now making the rest of the world nervous too. Global markets have had a run of bad days and the german finance minister today sounded the alarm bells warning beijing and washington to tone down the rhetoric and get back to negotiating. China gave its First Official response to the latest threats of us tariffs today, with the bank of china saying washington was totally wrong to label china a currency manipulator. President trump sounded defiant this morning. Massive amounts of money from china and other parts of the world is pouring into the United States for reasons of safety, investment, and Interest Rates we are in a very strong position.
Getting a boost from the gdp boost print which was something. 1. 8 growth. Shanghai, doing well. Lets look at whether the currencies are playing out in this because when we see the japanese yen appreciate, we tend to find exporters are under belowre but it is still 106 and doing ok on the nikkei 225. The euro, fractionally moving to the upside at 1. 12. This, despite what has been a bit of a fallback but it looks salvinis government is on the verge of collapse. Meanwhile, we had the fix early in onshore yuan, below seven against the dollar. Lets carry the position we have on these markets. Lets look at the first word news with su keenan. Governor has told ready to that he is reduce australias record low Interest Rates further, although he indicated the economy may see the worst of the slowdown. The rba undertook back to back rate cuts in june and july to a record low 1 as it stopped to revive a decelerating expansion and drive down unemployment. Inflation will be below the target for s
We highlighted the Human Suffering and negative added impacts of the war in ukraine with regard to global food and energy security, Supply Chains, Macro Financial stability, inflation and growth. Thats a departure from tougher language at last years 620 in bali, saying the 620 deplores, in the strongest terms, the aggression by the Russian Federation against ukraine and demands its complete and unconditional withdrawal from the territory of ukraine. We should note two key leaders were missing russian president Vladimir Putin and his key ally, chinese president xijinping. Disagreements over language on ukraine threatened to overshadow the 620 this year, as south asia correspondent Yogita Limaye explains. During the 620 summit in bali last year, member countries took a very long time to agree on the wording regarding the war in ukraine, so that was expected this time around as well. In fact, there were worries about whether there would be consensus on any statement at all. And so, its qu