Talks have been delayed until thursday. Diplomatic and trade tensions between australia and china formed the backdrop as the rba prepares its latest statements. Economists see no change. Shery we will start with breaking news out of south korea. We are getting the final Third Quarter gdp numbers. When it comes to the year on year numbers, a contraction of 1. 1 . This is coming in a little better than expected. The quarter on quarter numbers also rising more than expected, 2. 1 , and beating estimates of growth of only 1. 9 . We have seen some pretty positive ratings especially when it comes to the south korean export numbers. They have seen a lot of external demand, especially in china and the u. S. , despite the fact we continue to see virus infections accelerate in those economies. Again, thirdquarter gdp numbers for the final numbers now beating expectations and coming in at growth of 2. 1 quarter on quarter, haidi. Haidi lets take a look at where we are sitting when it comes to thi
This week. The democrats say there is no rush and that any decision should wait for the election. An exclusive interview with atlanta feds rafael on the prospect of race. The bank of thailand make policy decisions this week. Central banks heading the headline when it comes to the agenda this week. Take a look at markets setting up in the early part of this monday. Liquidity is in session in asia. Japanese markets are off in respect to the holiday. That also means treasuries at cash trading wont begin until the london session. Asian equities are up someone it comes to rebound after tech put u. S. Stocks to a sixweek low on friday. The s p contracts trading law by that the , suggesting downward pressure could continue after three days. Kospi futures are looking positive. That does hold the crucial export data. About half a up percent. Sydney futures lower by 6 10 of 1 . We did get positive developments when it comes to the coronavirus case numbers continuing to trend lower and 11 cases r
Fed president Robert Kaplan this hour. President trump orders chinese to shutdeo app tiktok down in the u. S. Next month unless there is a deal with microsoft or another leading american company. Breaking news out of south korea. The cpi numbers for the month of july year on year, a growth of 0. 3 . This is of course after inflation remains flat for the previous month year on year. We have seen somewhat muted demand. Perhaps weighing on the month on month numbers. We are seeing inflation at zero growth. This really missing expectations that prices would rise 0. 1 if also inflation is decelerating from the previous month of june. Core cpi take out oil prices, and you get a rise of 0. 7 , in line with estimates, and slight acceleration from the previous month. We have seen brent crude prices recover somewhat from aprils slump but still down 38 year on year also. The are also expecting tokyo Inflation Numbers within the hour so take a look at what japanese futures are doing at the moment.
In food cooperatives, electricity cooperatives banking cooperatives housing cooperatives, all sorts of cooperatives that are not based on a profit motive. They pool their n. Shared resources on the commons. This cooperative is a comment and theres no direct profit. For example in the United States when you go to the Grocery Store a lot of the food you get is coming from agricultural cooperatives and invest part of u. S. Electricity comes from rural electricity cooperatives. They provide 70 of electricity. Its not a profitbased system. Its wildly successful. In new york we have housing cooperatives. In europe and asia and around the world more people bank in banking coops and commercial banks and their big players. Theyre not small players. Again we are so blinded to the idea theres only the capitalist market that we dont see around us is other reality cooperatives and nonprofit organizations that are common to let me say one last thing. Economists will say the social commons is a paras
Agriculture we have to turn it around. We need to move toward organic agriculture land reform and allow people to begin to shift their Food Production from fertilizers and pesticides to more organic treatment. To big john. In europe we are doing it. In parts of asia they are beginning to move toward a more agriculturally sustainable system. We are not hearing doing it here in the u. S. In any major way. Host one of the sections of the book makes a small concession to the idea of near zero marginal cost and i was struck by that. When i think about my internet of things i never believe that what i use is free. I pay comcast hundreds of dollars per month and i pay at t hundreds of dollars per month and i pay and a number of other companies for theirdevices and software to interact with the flow of data. Nothing about the internet is free. Some of those are sunken cost but every month i write a check to comcast. Guest every time i mentioned in the book i stayed near zero. I spent a lot of