The issues china is facing. Short of these stimulus packages, we don t know a great deal about where the money is being spent. Would you be looking for in order to try and turn these futures around 7 one of the big issues is the banking system is huge in china, it is loaded with bad debts. It s been forced to lend to bad projects for so long so the first thing to do is rescue the banks of this is something that the fed did after the financial crisis. system. Instead of giving them more money to lend and using that money to set up a fund, buy from them all of the bad assets and let them go back to a clean balance sheet and start over. The government can hold this bad debt, these bad property investments for a very long time but the banks need to have a better capital base to start lending again and you need to stop forcing them to lend only to state owned enterprises which are not profitable and bad projects, bad infrastructure projects with a 1% return on assets. You need to get the
The prIme MInIsters Message to Conference Labour Is buIldIng a new brItaIn. A UnIon Leaders told thIs programme that wIthout a change of course the party could lose the next electIon. So what Is the Governments Plan . Welcome to newsnIght, lIve from the Labour Party Conference In lIverpool theIr fIrst In 15 years In government. TonIght well be joIned lIve by a government mInster, well hear from the leader of the one of the bIggest unIons In the country who has a strong warnIng for labour, and In a moment well hearfrom the health secretary, wes streetIng. Your InsIght TonIght comes from mp Zarah Sultana, who lost the Labour WhIp after backIng a motIon to scrap the two chIld benefIt cap. Also, a man who had to get Into the heads of both KeIr Starmer and Tony BlaIr because he wrote some of theIr speeches, phIl collIns. And the polItIcal edItor of the DaIly MaIl, jason groves, whos been coverIng these conferences sInce the last tIme labour were In government. NIck, we heard from the chance
for its brutal aggression. the white house is being briefed on the debt ceiling negotiations back home. i will speak to a senate democrat leading the push for the president to bypass congress and raise the debt ceiling by invoking the 14th amendment. this hour, desantis versus trump. dueling positions on abortion, as the florida governor prepares to jump into the race as early as next week and signs four more bills positioning himself to the right in the culture wars. rising tensions over immigration boiling over far from the border. cities like new york run out of space to house migrants being sent north. it has overwhelmed our system. 65,000 people are coming to the city. a week and a half ago, we had 4,200. in one day, we had 900. the numbers are unbelievable when you think about it. good day, everyone. i m andrea mitchell in washington. president biden is balancing major domestic and foreign policy challenges while on the other side of the world. in japan today,
them neville. former president obama just wrapped up a rally with democratic senate candidate john fetterman in pittsburgh. mr. obama will team up with president biden for another rally later this afternoon in philadelphia, and former president trump stumping later as well for senate candidate mehmet oz and gop gubernatorial candidate doug maas try january know. we ll have full cover coverage with lauren wright standing by in philly, bryan llenas on former president trump hitting the trail, but first, rich edson on the democrats rolling out their big guns, and he is live in pittsburgh. hey, rich. reporter: hey, good afternoon, arthel. it is a wealth of former presidents here on the western part of the state. president obama just finished here close to the university of pittsburgh where he s trying to turn i out voters, college students, folks in the area to vote for john fetterman for u.s. senate. also campaigning for the house candidates and the governorship that s also up
if gas prices keep rising. fuelling controversy. opec slashes production to boost oil prices, sparking an angry reaction from president biden. plus too broke for beauty? women around the world say they are cutting back on cosmetics so how is the industry responding? we ll hear from a top entrepreneur. we start here in the uk, where as you ve been hearing, prime minister liz truss has been presenting her plans to boost the economy in her keynote speech to the conservative party conference in birmingham. she re stated her commitment to lowering taxes just two days after being forced to abandon a pledge to cut income tax for the highest earners. markets remain nervous about the outlook for the uk s finances under ms truss s government after the mini budget statement on september 23rd that sent the pound to a record low and borrowing costs soaring. but she argues the disruption will be worth it. whenever there is change, there is disruption. and not everybody will be in f