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where sentiment has been weakening since about mid january on the lack of stimulus measures by the government. so after the last inflation numbers, so we could have an overreaction, but then again the trading restrictions being what they are right now it s very hard to play out the numbers especially with ten days of holidays coming up after tomorrow. yes. so what do you think the reaction from the chinese government is going to be then to these numbers that are worse than expected 7 i think because of the holiday period, they may be buying themselves a few days to think about what to do. it s really a demand side issue with them. as we saw with the alibaba earnings, people don t have the confidence right now to spend or take on debt. all of the measures we have seen so far have targeted the supply side, increasing loans, increasing liquidity. these are not enough. investors want to see some job creation type of investments, some reduction in some of the maybe the bur ....
with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they won t win over republicans ....
the mood in washington. with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they wo ....
economy grew faster than expected in the first quarter thanks to robust consumer spending after lockdowns were lifted. but factory output has lagged due to weak global growth and this latest data raises questions about the sustainability of china s recovery. a market strategist told me these numbers show how uneven china s recovery has been. a pretty dire set of numbers, although services is still an expansion. it has come below expectations, but of course the bigger shock on the manufacturing side, and shows how uneven the recovery is in china. two things worth noting. first, we are coming from a strong first quarter where we had this initial euphoria after the reopening of the economy, as well as some benefit from the chinese new year period. so of course, manufacturers are a little bit downbeat after that initial euphoria has come down. secondly, my bigger concern is about geopolitics and the impact on making the external demand weaker for china s manufacturing secto ....
It has been the wettest 18 months on record since 1836, one of the wettest winters in decades that many farmers can remember. It has had a huge impact on the ability to grow crops and it has been quite sudden. In 2022 we were talking about extreme heat and drought and farmers not being able to get crops out of the ground because it was baked too hard. This winter they have not been able to get them in the ground because it has been too wet, waterlogged and soft, basically. That means that the amount of wheat and winter barley, oilseed rape were likely to harvest this year will be down a third, and looking across all the farming sectors, fresh fruit and vegetables, meat and dairy, eggs, that will be enough to drive an 8 reduction in the headline self sufficient and seen when, Self Sufficiency when measured by volume. Around 86 over the period btween 2018 and 2022 to 78 this year or thats what we estimate. Egypts economy has been ....