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in activity. the world s second largest 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 economic recovery has been. fix, economic recovery has been. pretty dire set of numbers, although still an expansion. it has come below expectations, but of course the bigger shock on the manufacturing side, and to see 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 impac ....
Plunge last week after it admitted that customers had withdrawn $100 billion in deposits in march. at that time its competitor silicon valley bank had collapsed wanting fears of a crisis. that was swiftly followed by the demise of another us lender, signature bank. we werejoined by of another us lender, signature bank. we were joined by thomas but phil hayes for his take on what to expect from a rescue deal. ~ ., ., ., , ., deal. we are going to see what ha ens deal. we are going to see what happens tonight, deal. we are going to see what happens tonight, either - deal. we are going to see what happens tonight, either they i happens tonight, either they get a deal and jp morgan and others were invited to bid. usp and bank of america declined the opportunity. the odds are on a receivership and then a bid for the assets. if they do, it will be at a very small level. they have lost $22 billion of market cap. your earlier point, when you see a bank they are like silicon valley bank, you ....