hello there. a significant easing of restrictions in shanghai, which will allow most people to move freely around the city after more than two months of a full lockdown. hooray! the curbs on movement have crippled demand and production. on tuesday, beijing unveiled a stimulus package with 33 measures to try and revive the economy. but china s overall policy of zero covid remains very much in place according to our reporters on the ground. joining me now is iris pang, who is the chief economist at ing wholesale banking. iris, is china open for business? yes, it is. the unwinding of long down in shanghai is a very big step but lockdown is a very big step to the recovery of china. very big step to the recovery of china- very big step to the recovery of china. ~ ., i. ., ~ ., of china. what you make of the olicies of china. what you make of the policies john of china. what you make of the policies john has of china. what you make of the policies john has had of china. wh
thank you so much forjoining us. does it bring prospect of a free trade deal with the united any closer? any closer? no, i think it is a welcome any closer? no, i think it is a welcome sign any closer? no, i think it is a welcome sign that any closer? no, i think it is a welcome sign that the - welcome sign that the relationship is warming again after the trump era restrictions on steel imports from around the world, but i don t see this as any first step for the uk us free trade agreement. step for the uk us free trade agreement- step for the uk us free trade a . reement. ., , agreement. the government is keen to show agreement. the government is keen to show some agreement. the government is keen to show some kind - agreement. the government is keen to show some kind of - agreement. the government is| keen to show some kind of post brexit progress on trade, and including a course on steel. what victories can currently .2? i what victories can currently .2? 4 ., , .2? i t
has tried to present himself to the public as a president who is getting things done. he s tried to hold up progress on trade, but he continues to kind of undermine that possible narrative by tweeting things over the weekend about the speaker, pelosi and her teeth. he s kind of always all over the map and probably will continue to be going forward. i think it s just incredibly telling that his campaign believes he has a good story to tell on the economy, unemployment, 3.5%, that s incredibly low, and yet the new poll out today shows 50% of the country supports impeachment. so the president believes he has a strong case and that the economy will work for him but it may not be enough given that half the country still supports his impeachment. rick, let s be very serious about this because what the democrats are alleging and why they re moving forward as quickly as they are on impeachment is they re saying the president is a danger to our elections, he tried to cheat, he s going to try
the dnc is saying in terms of this particular situation neither they nor the university were aware of these issues until this week. candidates they we had to move it last time and it will be an issue where people will not still be on the picket lines. that is something the dnc should look at again. they hope to get a resolution in time for the debate. carley: thank you very much. stocks are not shaken by impeachment but stirred by progress on trade. the market moving on trade after china s commerce ministry held a news conference to discuss the progress in the trade talks. donald trump touted the deal at the white house. a lot of big things are coming.
is because it s been such a long time since the market has seen any kind of downside momentum. we did hit record highs just the day before thanksgiving. a lot of this was baked into with expectations for incremental progress on trade, whether it s phrase one or new negotiations, whether it s a physical visit, something like that was going to happen. that s the reason a lot of stock traders have been buying up stocks. if the prospects are now dampened, that is the reason we re seeing volatility. and the places we re seeing the most downside action today are in companies that are perhaps more tied towards the chinese company or have a lot of business dealings there. industrial companies that service a lot of chinese companies and maybe computer chip companies because of all of the laptops and other tablet computers that are made in places like china. but again, the reason why we re seeing it is because of those trade comments. it just goes to show you how