To European Markets opening up, and the close in asia saw significant gains in Hong Kong and japan. The picture there is across the world, that is last night but this is what we are drawing our attention to here, the Hang Seng up by almost 4 and then Ak Injapan up by 3 as well. For more, joining me now is rory green, chief China Economist at t5 lombard. How significant are the new measures . It isa it is a significant Step Up in stimulus from beijing. What we have had announced so far, and we have got clarity on the monetary Side And Today the Politburo Set for september gave us an indication, we do not yet know the size of a fiscal stimulus and that will be crucial to assess the acceleration of growth. As you touched on, until traders are loving these signs and china assets are ripping higher. Observers have been saying for quite some time that beijing needs to do something dramatic to stimulate its economy. Why has it waited so long or until this point to do so . It has it waited so
To unmute your microphones anytime you speak. If at any time during hearing im unable to chair the hearing the human chairman colon or vice chairman of the committee congressman kennedy will serve as chair until im able to return. Documents for the record can be sent to Benjamin Tabor at the email address weve provided. All documents will be entered ininto the record with the inclusion of the hearing. The chair will not recognize herself for an Opening Statement. Today the energy and Commerce Committee continues itser oversight of the nations covid19 Pandemic Responsee examining a safe and effective covid19 vaccine that the American People can trust. In the eight months we battled covid19 over 7 million americans have had the virus and tragically over 200,000 have lost their lives. Millions ofll people face on employment and have lost their Health Insurance and families are still juggling childcare and virtual classrooms. The list of those most vulnerable to covid19 is especially on th
U. S. House here on cspan. [captions Copyright National cable satellite corp. 2020] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] the speaker pro tempore the house will be in order. The prayer will be offered by our chaplain, father conroy. Chaplain conroy let us pray, lord, father of us all, we give you thanks for giving us another day. At a time when so many are worried about business survival, rent payment and unemployment benefits, impell those in our government that are charged with the general welfare to come together to negotiate solutions benefiting all americans in need. Put forth your spirit of wisdom, patience and goodwill upon all the members of congress during these troubling days for so many of our nations citizens. May all that is done this day be for your greater honor and glory. Amen. The speaker pro tempore pursuant to section 4a of House Resolution 967, the journal of the last
With the dividend although it will be far lower than last years. Hong kong media tycoon released on bail. His broken National Security laws beijing has branded him guilty. Breaking news out of south korea. We are getting Unemployment Rate numbers, and again, surprising to the upside. They fell to 4. 2 in the month of july, this after surprising to the upside the previous month, falling to 4. 3 in june. Of course, we have seen more job creation efforts. In fact, we just heard from south koreas Ruling Party Leader saying south korea will actively consider a fourth extra budget if needed. South korea has already pledged more than 225 billion in stimulus measures or roughly 14 of gdp to help put a floor on the jobs market, and right now, the july Unemployment Rate falling to 4. 2 . Lets turn to the markets and bring in Sophie Kamaruddin in hong kong. What are you watching . Korean alongside the jobless numbers, we are waiting on Australian Consumer confidence, due out later this morning, a
Good morning. This hearing will now come to order. I am pleased to welcome our distinguished panels of Witnesses Today on the economic subcommittee focusing on a very important topic and i think theres a lot of bipartisan interest in and that is the economic geostrategic challenge with the rise of china poses for the United States not just today but in the future. The calmness party led peoples republic of china through unfair treatment practices and intellectual property theft market manipulation and very prominently in my view not reciprocal treatment not just in the economic realm but in many realms has been a force in the Global Economy that undercuts the resiliency of the u. S. Economy. Its been one of the worlds fastestgrowing economies averaging close to 10 growth from 1979 to 2015. In 2014 china overtook the United States as the Worlds Largest country in reducing power according to the International Monetary fund. I believe there is a strong bipartisan interest and hopefully we