Index, just marginally down. The real story has been the bounceback after last weeks fall for bitcoin, approaching record highs. 19,595. 1. 1 to the upside. Drivings within opec that crude oil price down. Lets look at what is going on in the emerging market context. Asian markets are bouncing back nicely after yesterdays big move to the downside. What has been responsible for this change in mood . , onethink first of all should partly see yesterdays price action as an anomaly. I think the Way Investors are now returning to the positive things like easy fed policy, Global Economic recovery, which was confirmed by asian pmis and the index that just came out, and optimism about vaccines. Juliette and your team has written a piece on the e. M. Currency outlook for 2021. It reads quite positively. What is the basis for all that optimism . Maybe there are three reasons. First, valuation. We believe that emfx is undervalued and conditions should be conducive to pushing them into overvalued te
8 up. A bit of a conundrum, it weaker than anticipated growth number when weve got Industrial Production and retail sales beating what was going on. Graphically, there you go. Retail sales, 3. 3 to the upside and that is what has been going on in aggregate. A mixed bag, a miss on the headline gdp but certainly a beat for Industrial Production and retail sales. Yeah, the topline picture is that China Remains the only major economy that is recovering at a pace like this but nonetheless, yeartodate, growth around 0. 7 . Year, beginning of the officials had hoped to get around 6 growth for 2020. Nonetheless, the fact retail sales came in well above the estimates will for economists who say we should see a broader economic recovery in china fueled by infrastructure. Straight cap to the pandemic, there would be focus on whether or not the consumer would step up and the numbers suggest that is happening. Ubss headore from of asia economics and achieve china economist. Always great to get your
Regulator devastates. Striking back in china orders the us to shut its consulate general and the city of chengdu in retaliation over the closure of its own consulate. As the u. S. Secretary of state ratchets up the pressure by calling on the world to gang up on quote this new tyranny. Several people aboard a passenger plane are injured after the pilot is forced to make a dangerous maneuver were going to encounter with a u. S. Fighter jet. Watching our international bring your live news update from our studio here in moscow welcome to the program. The u. K. His Opposition Labor Party is pushing for arties broadcast license to be revoked and a letter to the countrys t. V. Regulator off com the watchdog is supposed to be independent and immune from political pressure. To have takes us through the development. These must be some sort of record in order vanitys history it has done less harm if any both immediate and long term to Great Britain to the british people and britains future than o
Seem like hyperbolic right why then are we leading our newscast on this night with the suggestion of this potential scenario because 2 World Leaders are coming out and saying that it is what they think could happen and these are leaders who know the region the Asian Pacific both men are all straight and both have held the position of Prime Minister let me take you through it 1st its the former Prime Minister and china scholar there is thats kevin rudd who has just penned an editorial in Foreign Affairs journal where he says the risk of Armed Conflict between the United States and china in the next 3 months. Was especially high. Then as you might expect australias current Prime Minister Scott Morrison was asked to comment on his predecessors statement and surprisingly he basically agreed morrison said that the hot war between the us and china was quote previously inconceivable not considered even possible or likely but not anymore. To australian Prime Ministers one former one present so
Largest number of coronavirus cases in the u. S. Its a passing new york. Cemeteries are overflowing in the hospitals running out of space desperation in bolivia and the government wants the virus will reach its peak only in august. So then he has been criticized for his response to the worsening coronavirus pandemic and the demands for Racial Justice following George Floyds death with just over 3 months to go before the president ial election donald trump is taking action and talking tough on 2 other fronts his administration has ordered chinas houston consulate to be shut down in the latest move against beijing and in the past couple of hours the president has announced that hundreds of federal Law Enforcement officers will be sent to the cities of chicago and albuquerque to combat what he calls rising crime state governors and city officials all democrats say they. Its a political stunt the announcement follows a night of violence in chicago which included a gun battle between gang m