Rates potentially going up faster than expected makes profits harder to earn, and shares relatively less attractive. And the good news spin is that higher rates are the result of growth, so these are problems of success. Which is all reassuring. But theres a bigger way of looking at this that this is a turning point. We had a crash ten years ago; we still havent got back to normal and this kind of disruption isjust a starter as to what to expect as we do. The banking crisis of ten years ago has spread across the west and was like an economic heart attack, leaving banks slow to lend so companies couldnt get credit to pay for new investment and too many households were stranded with big debts and couldnt afford to spend. Across the west, grows inevitably slowed. For the time being at least, the nice decade is behind us. The credit cycle has turned. Central banks had to step up to stop the economy is falling down even further, printing money and slashing Interest Rates to nearly zero. In
A global recession can be prevented. In a rare move on a sunday, the Federal Reserve, Americas Central Bank cut Interest Rates to near zero. And in cooperation with other countries around the world, it will engage in quantitative easing. All of this as the number of cases of coronavirus cases continues to rise. Samira hussain reports from new york across america, the damage is mounting. People are asked to practise social distinction distancing. New york feels like its grinding to a halt, the 9 11 memorial is roped off, the Public Schools have all shut their doors and even starbucks will serve you copy but no hanging about in the shop. Recognising the impact coronavirus is already having, Americas Central Bank took an unprecedented move on a sunday, cutting Interest Rates to near zero and watching a 700 billion Stimulus Programme in Co Ordination with its european partners. The president seemed pleased with the feds move. Its really good news, its great for our country, its something t
You are pretty much up to date. It is liz30am. Now on bbc news, hardtalk. Welcomed to hardtalk. Im stephen sackur. As the global effort to control covid 19 continues, so arguments about culpability for the spread of the virus intensify. And at the heart of the story, china, where the outbreak began. Did the Chinese Governments impulse to cover up the truth cost the world dear, or did beijing respond with admirable determination . My guest today is chinas ambassador in london, liu xiaoming. Is china the villain or the hero of this pandemic . Ambassador liu xiaoming, welcome to hardtalk. Thank you thank you to be with you again. We are delighted to have you on this programme at this difficult time. Let me start with a very simple, direct question. Do you accept that covid 19 has its origins in china . It was first discovered in wuhan. But i cant say it originated from wuhan. According to many information, many reports including bbc. It can be everywhere and anywhere. It can be in aircraf
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