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
Fanning the flames. What can the government do? we talked again about 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 this future is around? 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. 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, bad property investments for a very long time but the banks need to have better capital 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 w
By hamas gunmen took place just before 6 30 local time. More than 300 young people attending the festival were killed, others were taken hostage. It has been called israels 9 11 by some, and like the attack on the world trade center, its had massive repercussions around the world in both politics and economics. Michelle fleury has more on the Global Impact one year on. The middle East Conflict could add to the risks already facing the global economy. The escalation comes at a time of uncertainty around the upcoming us election and as china tries to stabilise its struggling economy. Economists warn the war could push up inflation if Trade Routes are disrupted, causing the cost of Oil And Shipping to rise. A bigger concern is whether any escalation could rock the straits of hormuz, a major shipping channel. 0ne straits of hormuz, a major shipping channel. One third of Oil Tanker Traffic and a fifth of Lng And Gas passes through there. The Oil Markets are already reacting. The price of Br
In the latest fighting, israel has bombed a building in central beirut. Both Israel And Hezbollah have reported a second day of intense fighting on the ground in southern lebanon. Oil prices jumped on tuesday over supply fears, with markets regAining ground as investors seemingly come to terms with the escalation in tensions. Lets have a quick look at the price of oil, once agAin today, more than a i once agAin today, more than a i increase, the price of oil just below 75 per barrel. It would look at the Share Markets in asia, its an interesting picture were seeing. Japan is seeing a bigjump, Over2 because of the yen has weakened significantly on anticipation of what might happen in the japanese Economy But Hong kong is down over 3 . Big profit taking going on in hong kong, over the last few days there we have seen rapid increases on these markets in response to chinese stimulus so chinese stocks have had a real rise in recent days. Today, profit taking going on there but elsewhere, as
Bonanza for Chatg Pt Maker openai it takes in new funding, making it one of the most valuable Start Ups in The World. Will he or wont he show up that is Elon Musk is due to testify to the us Markets Watchdog over his Twitter Buyout after a no show last month. Welcome to business today, im ben thompson. We start in the Middle East where, as weve been reporting, President Biden has said the us does not support an attack by israel on irans nuclear sites in response to tehran s missile strikes on israel on tuesday. The us president said the israelis had a right to respond to the attack, but they needed to do so proportionately. In the latest fighting, israel has bombed a building in central beirut. Oil prices have risen since wednesday over supply fears, with markets regaining ground as investors seemingly come to terms with the escalation. Lets have a quick look at the price of oil. This is the one to keep an eye on, Brent Crude up another 2 today taking it above 75 per barrel. For more o