let s start in china, where the latest figures just released show the world s second largest economy grew faster than expected in the first three months of the year at 4.5%. this is the first set of quarterly gdp figures following the end of strict covid 19 restrictions in december. they also follow the easing of a three year crackdown on tech firms and property. lets get reaction from julian evans pritchard, head of china economics at capital economics. this is better than expected. most people are saying we re looking at 4% growth, give us your take on this number? really the strength is all about the consumer centre, we saw the vigors beads on the retail sales numbers are more generally in qrs or the household savings rates, so households are feeling more comfortable, households are feeling more comfortable, spinning again, they have comfortable, spinning again, they have the comfortable, spinning again, they have the possibility - comfortable, spinning again, they ha
43 billion euros, effectively subsidies to encourage companies, european and american, and others, to manufacture their chips on european soil, to put it in context it is 43 billion in europe, and that is a reaction to the us chip act which subsidises their own domestic industry to the tune of $280 billion, and korea has a plan for the next decade to invest 450 billion. crosstalk. the eu, in a way is competing with giants. 0f with giants. of course, and we all are, and somewhere in the midst of this is the uk. let s talk about the companies that will benefit from the chip act. you will be the players that will make the most of it? most of it? europe has got a strin: most of it? europe has got a string of most of it? europe has got a string of leading most of it? europe has got a string of leading chip - string of leading chip technology companies. asml and the netherlands is one of the world s leading chip equipment makers, it makes a lot of the