Of the Global Economy given so many countries do so much trade with china. Chinese Government Data shows that the value of exports fell 14. 5 compared to the same month a year ago. That suggests the rest of the world is buying less stuff. The value of imports also fell by more than expected, down 12. 4 onjuly a year ago. But that partly reflects a fall in the price of commodities such as crude oil. The figures will concern chinas government, who are grappling with economic growth. The quarterly Growth Figure was just 0. 8 in the april tojune period, as the country continued its post covid recovery. And last month, chinas struggles were cited as a key concern for the Global Economy when the International Monetary fund updated its Global Growth forecast for this year to 3 . David woo is a former imf economist and wall street strategist and has been telling me what he makes of the numbers. You know, like some people are going to say, well, this is just basically a reflection of the curren
Next the hearing from the House Select Committee on the Chinese Communist party, an alleged human rights abuses against the uyghur population. A mostly Muslim Minority in a country in the northwest. The testimony from human rights advocates and people detained in prison camps in the region. Its about three hours. And the select committee will come to order. At this beginning of ramadan, as muslims around the world commemorate Prophet Muhammad receiving the first revelations of the quran, we are here to say a horrifying truth. The uyghurs, many of whom matt practice the muslim faith, are being erased. Genocide is occurring. This time, at the hands of the Chinese Communist party. We are privileged to have with us many members of the weaker community. We are deeply grateful for your bravery. We know that it comes at a great cost. We prepare to hear firsthand testimony from the ccp concentration camp. I would like to turn to alicia we sell, whose father, auschwitz survivor and Nobel Laurea
So as not to overreact to the string of low Inflation Readings that we had in the second half of last year. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Todays remarks highlight the different paths being taken by Central Banks around the world, with the european Central Banks Christine Lagarde reaffirming that the ecb was still on track to cut rates. Many people expect the ecb will cut rates injune. Now, the timing of the first rate cut here in the United States this cycle has become a subject of much debate from main street to wall street to the campaign trail. The fed had previously signalled it intended to cut rates several times this year from a 23 year high of 5. 5 . Us stocks fell after mr powell spoke. Tensions in the middle east have also been weighing on markets, the conflict in the region has been cited as a risk to recovery for the Global Economy by the International
So as not to overreact to the string of low Inflation Readings that we had in the second half of last year. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Todays remarks highlight the different paths being taken by Central Banks around the world, with the european Central Banks Christine Lagarde reaffirming that the ecb was still on track to cut rates. Many people expect the ecb will cut rates injune. Now, the timing of the first rate cut here in the United States this cycle has become a subject of much debate from main street to wall street to the campaign trail. The fed had previously signalled it intended to cut rates several times this year from a 23 year high of 5. 5 . Us stocks fell after mr powell spoke. But that is in the middle east have been weighing on markets in the conflict in the region has been cited as a risk to recovery for the Global Economy by the International
To the string of low Inflation Readings that we had in the second half of last year. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Todays remarks highlight the different paths being taken by Central Banks around the world, with the european Central Banks Christine Lagarde reaffirming that the ecb was still on track to cut rates. Many people expect the ecb will cut rates injune. Now, the timing of the first rate cut here in the United States this cycle has become a subject of much debate from main street to wall street to the campaign trail. The fed had previously signalled it intended to cut rates several times this year from a 23 year high of 5. 5 . Us stocks fell after mr powell spoke. Heres how Stock Markets fared in the us after mr powells comments. The s p 500, nasdaq and the dow closed slightly lower. The federal reserve s next policy meeting will start at the end of april