Thank you forjoining me. We have been getting lines that we expect gdp to come in at around 5 . What is your reaction to that . , 5 . What is your reaction to that . ,. , that . That is the same number china was that . That is the same number china was targeting that . That is the same number china was targeting last that . That is the same number china was targeting last year i china was targeting last year so i think what beijing is trying to signal than is that despite the short term turbulence, Stock Market Fluctuations earlier this year, i think beijing is trying to tell people that, yes, economics is still steady and the leadership habit together, things are under control and thatis things are under control and that is why they are shooting for the same number, in terms of gdp target in terms of last year, and that also means however in terms of the size of expected economic stimulus that many people were expecting china to dish out, the exact size of it may be more modest than s
continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better than expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings? optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations earnings? it reflects rate cut expectations undergoing - earnings? it reflects rate cut l expectations undergoing belief that the us can have a soft landing, when you look at earnings growth, actually earnings growth, actually earnings growth
countries will include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for exactly what this shipping disruption might mean for the global economy, i spoke to hung tran, who s a seniorfellow at the atlantic council and also former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. all together, it accounts for about us$1 trillion per year of world trade, so it is quite significant, and a disruption there would cause damage to world trade. aside from avoiding this area, what can companies do
havoc to global trade. speaking in bahrain, the us defense secretary lloyd austin said participating countries include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for more on what the shipping disruption might mean for the global economy, i m joined from washington by hung tran, a senior fellow at the atlantic council and former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. altogether, it accounts for about us$1 trillion per year of trade, so it is quite significant, and a disruption
let s now get down to business and the drama that let s now get down to business and the drama that has let s now get down to business and the drama that has been unfolding over the weekend in switzerland is dominating once again. they ve had fraught negotiations as the authorities, the central bank and leaders of two of its biggest banks tried to reach a deal to prevent another damaging financial crisis. late on sunday it was announced. the troubled bank credit suisse has been taken over by its rival ubs in a government backed rescue worth over $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and in the us. switzerland s central bank wanted to prioritise financial stability and protect the swiss economy. here s the chief executive of ubs. translation: it means we bring back stability translation: it means we bring back stability and