Reporter yeah, deirdre this could be the biggest trade agreement of alltime, possibly. We have to look at the numbers here. The u. S. Touting some real structural changes in china, saying also that this agreement will be signed on paper and signed the first week of january now the chinese are saying this covers some very big items, really big sections, including protecting intellectual property , increasing those protections, those deals of the force transfer of property, ending that, opening Market Access for Financial Services firms, and china agrees to stop manipulating its currency. The president also says chinas agreed to buy a lot more agriculture from the u. S. But would not put that number in writing. President trump i think they will hit 50 billion in agriculture, much more because its also manufacturing and other but i think in agriculture they will hit 50 billion. They were already buying, even before the deal is signed, theyre buying. Reporter and as Senior Administration o
Forecast. I am yousef gamal eldin. Ahn. i am shery we are seeing that Global Equity trading, andian asian currencies gaining ground. Ome the nikkei losing 1. 5 a very important day for india as we get the 2017 Economic Survey and the annual estimate this evening. Losing ground,00 miners reeling, as oil prices coming down. Ally, this entire week were the about Central Banks. Yousef absolutely. We have a big week for Central Banks, the fed, boj, also the brings up this conversation around policy and pressure on the u. S. Dollar. Let me show you a chart that tells the story. Ecb tried to hike rates, but to turn a corner. This is the state of play of key Central Banks. The line in yellow is the fed target rate. On the fact they may not change rates, the base case expectation, but looking very carefully as to what they will possible balancen sheet reduction, speaking of possible passive shrinkage. Lets speak more about rising fromons, big developments the Trump Administration. The white hou
That could be the first signal we have seen of the impact of brexit and other geopolitical concerns on the chinese economy. In june, imports down 2. 3 year term. R in chinas exports better than expected, rising by 2. 9 percent in july. The market was looking for a figure of 2. 3 , well up from the 1. 3 rise in a sports year on year in june. Certainly, a big boost in terms of surplus. A big miss in terms of imports. There has been the impact of the brexit vote. Exports rising up by 2. 9 , so at least some good signals there in terms of Strong Demand for chinas exports. Still awaiting u. S. Figures to come through. Bloomberg was suggesting we should see 47. 3 billion trade surplus for july in u. S. Dollar terms. The quick math on the trade balance, 51. 5. We have to wait for these to be the be averaged out, but it still come in terms of, looking at imports and u. S. Dollar term imports. The estimate is 7 . That should be a little slower in terms of what we saw in june. Exports in u. S. D
Showdown, i am joined by hans nichols. Was the decision to suspend russia from the g8 unexpected or business as usual at this point. Not blow it too much out of proportion. Summit inwas a g8 sochi that president clinton wanted to host. They have moved the summit to brussels. It will be a g7 summit. Impose realt really sanctions on industries. They have posed sanctions on i spokeals there at with the president of the European Commission then asked him what the effect was of taking the g8 and turning it into g7. Class we are very much in favor of a dialogue with everybody in the world and we keep our no sense ton, makes be discussing these issues in the g8 for him. Brussels, the same dates planned. The consensus we have out the summit is a threat. A threat to have additional sanctions, including banking, and other aspects. If russia changes the status quo and if russia moves troops from russia into you eastern ukraine, that also means russian been accepted as the status quo and there is