good to have you with us, if you havejustjoined us, it is time to get to business. economists warn the global economy is at a tipping point, and what can be done to prevent a global recession and stimulate growth will dominate discussions at this weeks annual meetings of the world bank and international monetary fund. the imf is set to downgrade its current forecast for 2.9 percent global growth in 2023 saying there are rising risks of recession and financial instability. the global economy faces pressures on every front whether it be increased interest rates to bring down soaring inflation, a strong dollar, the aftermath of a pandemic and of course the economic impact of the war in ukraine. to talk us through the challenges i m joined by holger schmieding, chief economist at berenberg. good morning to you. what are you expecting to hear from the leaders at this event in washington this week? good morning- washington this week? good morning. you washington this week? good
many of you look in the same couple of days. i know many of you look ahead in the same couple of days. i know many of you look ahead to - in the same couple of days. i know many of you look ahead to 2023 i in the same couple of days. i know. many of you look ahead to 2023 with apprehension. many of you look ahead to 2023 with apprehension- many of you look ahead to 2023 with apprehension. should he be nervous? we can feel apprehension. should he be nervous? we can feel the apprehension. should he be nervous? we can feel the public apprehension. should he be nervous? we can feel the public looking - apprehension. should he be nervous? we can feel the public looking at - apprehension. should he be nervous? we can feel the public looking at us i we can feel the public looking at us again we can feel the public looking at us again and we can feel the public looking at us again and we won t let up. he doesnt again and we won t let up. he: doesn t seem it. look at the
we begin in china where we ve just had a slew of data that shows how deep the impact of both the pandemic and its demographics is having on society and the economy. data from the national bureau of statistics shows china s economy grew by 2.9% year on year for the last three months of 2022. that beat expectations reuters expected the economy to grow byjust1.8%. for the full year growth came in at 3% far below china s official target of 5.5%. excluding the year covid hit in 2020, this is china s worst showing in nearly 50 years. also today, the news that china s population has shrunk for the first time in more than 60 years a change that is expected to have deep economic, social and political implications for china. for more on that let s go to katie silver in our asia business hub. tell us more. that s right. the bi . tell us more. that s right. the big figure tell us more. that s right. the big figure that tell us more. that s right. the big figure that we ve tel