The issues china is facing. Short of these stimulus packages, we don t know a great deal about where the money is being spent. Would you be looking for in order to try and turn these futures around 7 one of the big issues is the banking system is huge in china, it is loaded with bad debts. It s been forced to lend to bad projects for so long so the first thing to do is rescue the banks of this is something that the fed did after the financial crisis. system. Instead of giving them more money to lend and using that money to set up a fund, buy from them all of the bad assets and let them go back to a clean balance sheet and start over. The government can hold this bad debt, these bad property investments for a very long time but the banks need to have a better capital base to start lending again and you need to stop forcing them to lend only to state owned enterprises which are not profitable and bad projects, bad infrastructure projects with a 1% return on assets. You need to get the
After the chinese government chose not to announce any additional measures today. Chinas chief economic planning official, zheng shanjie, told a Press Conference earlier hes fully confident the country can hit its 5 Growth Target for the year and had no further policies to reveal to boost chinas struggling economy. For more im joined by Alicia Garcia Herrero chief asia pacific economist at the bank natixis. Has that disappointed investors . Did they expect more . Yes they did because there was already a softening of the market overseas. Of course the chinese market was already closed. But already by friday you could see overseas markets waiting for more on the fiscal side. This Press Conference was announced in china and there was a big expectation that it would go beyond the 2 trillion. That they had an officially announced. The reality is they didnt even fully confirmed that and the markets remained a little bit surprised that they would call a Press Conference for such little infor
Of retail is changing. Well hear from The Boss of ingka about what it means to go phy gital. Live from london this is Business Today, im sally bundock. We start in the united states, where Donald Trump haS Pledged the us would take other countries jobs if he returns to the white house. Hes laid out hiS Plans to slash taxes, lower Energy Costs and regulations for manufacturers that made goods on us soil. At a Campaign Rally in savannah, georgia, trump promised a Manufacturing Renaissance reiterating hiS Pledge to punish american companies that manufactured outside the us, and slap large tariffs on foreign made goods to protect us industries. Not only will we stop our Businesses from leaving for foreign land but under my leadership we are going to take other countries jobs. Leadership we are going to take other countriesjobs. Ever leadership we are going to take other countries jobs. Ever hear that expression before . That we are going to take other countries jobs, are going to take othe
Joining me now is satyam panday, Chief Us and Canada Economist at S P global ratings. Satyam, what are the key elements here that youre looking at that mean theres going to be a drag on growth . We are mostly focused on the consumer sector, we are mostly focused on the consumersector, like we are mostly focused on the consumer sector, like you mentioned in your opening statement. We are starting to see some Consumer Caution creep up, see some Consumer Caution creep up, especially given how the Labour Market has moderated, we have also seen the real Income Growth so often, and that means most likely moving forward, the same type of growth coming from Consumer Spending iS Probably going to be softer, and if you think about the Consumer Spending, you have to look at the taxes being collected state and local site, so the Upside Surprise we have seen from the state and local Government Spending is also going to be softened moving forward. Put it all together, it is the consumers that are go
Dozens of rockets into northern israel. On tuesday the israeli military said they d killed a senior hezbollah commander in a strike on beirut. These pictures show the extent of the destruction from that strike. Our senior international correspondent orla guerin sent this report from tyre, where thousands of people have fled their homes. A community in mourning. The village of saksakiyeh in southern lebanon today. Ii were killed here yesterday by israel s massive bombardment. The dead included four women, an infant and a seven year old girl called joury. Herfather, mohammad halal, says she was an innocent child and a martyr. He pledges his support for the hezbollah leader, sheikh hassan nasrallah. Even if they kill us, he says, we are at your service. Also being mourned today, dina darwiche and her son, jad. Killed in their own home by an israeli missile. Here she was at work with the un refugee agency. It says it is outraged and deeply saddened, and civilians must be protected. A mir