The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl
Have just voted in in centerright government. Annabelle i am Annabelle Droulers in hong kong, we are counting down to asias major market opens, in australia have just come online. Shery i am shery ahn in new york. The top stories. Asian stocks set for losses, as the prospect of a ground offensive in gaza is large of a market. The u. S. Warns iran against escalating the war between israel and hamas. Washington and its allies stepping up efforts to prevent a wider conflict. And the baited administration is set to tighten measures to curb chinas access to advanced chip tech, adding design firms to a restriction missed. Adding design firms to a restriction missed. Annabelle asx 200 had just come online. We will see how it starts to trade. Really the focus as you said in the headlines is all around the flight to safety. It started to kick off in the session on friday. The question is whether it is extending into the start of another trading week given the prospect of another ground offensiv
European equities stumble off the back of disappointing inflation data out of the u. S. And china, but the ecb Council Member kazaks throws his weight behind a pause saying inflation is at a manageable level. Of course, we go from meeting to meeting and forecast to forecast taking a look at what happens in the economy. Hamas rejects warnings for civilians to leave gaza city and head south ahead of what israel describes as significant military operations in the coming days. And earnings season kicks off on wall street with numbers out of Jpmorgan Chase and citibank and wells fargo on the deck before the start of trade stateside. The uk market regulator has given microsoft the green light to complete the 69 billion acquisition of Activision Blizzard after a series of concessions for the takeover deal. Including activision selling the cloud gaming rights to ubisoft. The deal will prevent microsoft from locking up competition in cloud gaming and preserving competitive pricing and services.
Expected report showing the economy cant shake the sticky inflation. We get exclusive reaction from the secondincommand of us treasury shortly, coasttocoast starts now. Welcome and happy friday. I am edward lawrence. Our top story inflation showing little signs of letting up in march and all eyes are on the fed, how it will react at the next meeting next week. Getting a read him bob nordeli. You understand when a consumer is under pressure the report shows overall inflation rising yearoveryear, going sideways in this. Is this the start of stagflation . Thanks for having me on. Gary is the expert on this subject to. It is. Why deal with fortune 25 companies and i will tell you theres a long tail on inflation. We are seeing it every day. I would project oil is over one hundred dollars a barrel. I predicted inflation would be 10 . I missed ten but got to nine. I continue to see inflation across almost every commodity we are involved in. People continue to raise prices. Consumers have this
Thanks to you for joining me at home at this hour. Unless republicans in congress do something about it, this Saturday Night, at one minute past midnight, the federal government will shut down. And while the House Freedom caucus making radical demands and treating this like a political stunt, that Saturday Night deadline very real in terms of the harm it can cause for Hundreds Of Thousands of americans. I am old enough to remember the last time that the Government Shutdown because republicans wanted something ridiculous. Its right around christmas of 2018. The federal government shut down because President Trump demanded funding for a border wall that he never ended up finishing. And on capitol hill, it was a but for 100,000 Government Workers, these antics and 35 days without a paycheck. That new life for ships enter in Capitol Heights its opening its doors to furloughed workers, providing donating food from Grocery Stores and church members. Im with the Department Of Commerce in four