We are going to go ahead and get started now. Folks are still arriving, which is fine. But we want to get started because we have a fantastic program for you and not a lot of time this hour is going to fly by. The book is a fantastic read and i think folks especially in the United States going to find that controversial and that is the great thing about the book. It doesnt generate a conversation that i may not be worth reading. But this is a Glass Half Full story of chinas economy and the management of the Financial System and that is offered at a time when u. S. China relations are declining and attacks from all different corners in the United States of the system are growing the business argument that the economy and how it damages the economy is incompatible with the International System and as a result of the u. S. And others need to reduce their exposure to these unique risks. The book tries to answer the question how did china managed to do it, to continue to grow without a majo
The Senate Committee on finance the subcommittee on International Trade customs and Global Competitiveness will come to order. I know this seems a little strange but an empty room except for three witnesses live in front of me and many of our colleagues are going to be joining us virtually. But i want to welcome all of you nonetheless to this important hearing. This subcommittee continues to do its work in exploring the unfair treatment practices of foreign governments and especially china and russia. The topic of censorship in china is a common one because of its growing of facts on this list in the United States as well as culture. Last fall for example the National Basketball association had its Market Access lock in china because individual american citizens used to media platform not allowed in china to express a political opinion. Now the topic is become much more important to the lack of timely Accurate Information about the spread of covid19 due to chinese censorship has contri
People killed in violence that followed the murder of a popular singer and activist. And the yemeni rights group documents abuses including deaths in secret prisons as a devastating war continues and im santa how much with all the sports including. Pakistans cricket tour england received a major boost 6 players who had tested positive for corona virus that have now been cleared and are set to join up with the squad in the u. K. More than 370. 00 people have been arrested on the streets of hong kong as a contentious new National Security law opposed by chinas Central Government took a fix of people defied tear gas and pepper bullets to protest on the anniversary of the former british colonies handed over to chinese rule u. S. Secretary of state has again condemned the law saying china promised 50 is afraid of falling kong but only gave it 23. 00. Free hong kong was one of the worlds most stable prosperous and dynamic cities now now will be just another communist run city where its peopl
Markets i treasuries as well. The aussie 10 year yield down 16 basis points and money rush into the end. Oil in a bit of a freefall once again. Brent crude down more than 6. 5 . We areke below 20 and watching indonesia here in particular just coming online. The stock index drops re. 5 . Once again, we are seeing a lot of these em volatilities, back once again. We are watching the pboc after that interesting move to cut the seven day repo rate by 20 basis points so they are joining in on the stimulus ways. Lets get more on this with david ingles coming forward. We are watching u. S. Futures in particular continue to head lower. Lets start with the 7 billion injection into the system. I mean, quite a bit. David yes. A couple of things i guess to get out there. You dont normally see a reduction of this magnitude from the pboc. You also have to consider the fact that we know the economy is not doing well and in fact, the latest forecasts now suggest quarter on quarter, you take the median.
The meeting will come to order. Good morning and welcome to todays hearing, the u. S. Policy responses. This is the second China Commission hearing on the situation hong kong. During the may hearing, the commission heard compelling testimony from prodemocracy advocates. They expressed serious concern about the extradition bill that was moving towards becoming law at that time. That legislation wouldve put anyone in hong kong including u. S. Citizens at risk of extradition to Mainland China. Where a lack of due process and custodial leos have been well documented. Over the last six weeks millions of people in hong kong have taken to the streets and unprecedented and sustained show of unity. The protesters have inspired the world and everest their lives, health, jobs and the education to fight for the future of hong kong. Thank you for your courage and thank you for your bravery, we stand in solidarity. As protests get continue, Hong Kong Police use unnecessary force to target those in p