China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu
And early noughties. Now this comes hot the heels of Dissapointing China Trade data on tuesday showing exports sank at their fastest rate since the pandemic. Global demand for chinese made goods is falling, down more than 14 in the year tojuly. But domestic demand is down too with imports also falling by more than 12 in the same period. Joining me now is janet mui, head of market analysis, Rbc Brewin Dolphin where is this deflation coming from . Good morning, thanks for having me. So, this Deflation Data is mostly coming from food. And also commodities prices like raw materials, energy etc. Actually, if you look at the underlying deflation, things Like Services and tourism and leisure, hotels. Actually, they are up, the Core Inflation is up from 0. 4 to 0. 8 . But obviously, its still pretty muted. Overall, it is a concern that china prices are contracting and it could be lasting for a while as well. , ~ , could be lasting for a while as well. , ~ ,. ,. , well. How likely is it that ch
In the 90s and early noughties. This comes hot off the heels of disappointing china trade data on tuesday showing exports sank at their fastest rate since the pandemic. Global demand for chinese made goods is falling down more 14 in the year tojuly. But domestic demand is down, too, with imports also falling by more than 12 in the same period. Earlier, i spoke to janet mui, whos the head of Market Analysis at rbc brewin dolphin, and she explained where the deflation was coming from. Deflation data, basically mostly coming from food prices and also commodities prices like raw materials, energy, etc. Actually, if you look at the underlying inflation. Things like services, things like tourism, leisure, hotels, actually they are up. The Core Inflation is up from 0. 4 to 0. 8 , but obviously its still pretty muted. So overall, i think it is a concern that china prices are contracting and it could be lasting for a while as well. How likely do you think it is, though, that china is going to
florida in just a moment. plus a new subpoena from the department of justice, this one to the national archives for white house documents it turned over to the january 6 committee. meanwhile, in georgia, rudy giuliani testified for over six hours over his efforts to overturn the 2020 election. now georgia s governor is seeking to delay his own testimony which was scheduled for today. willie. let s begin this hour in the state of florida. where at 1:00 p.m. a federal judge will hear arguments about whether to unseal the affidavit used by the fbi to search the florida home of former president donald trump. the justice department is arguing against that saying it could compromise an ongoing investigation. the fbi goes through the seized documents sorting those covered by attorney/client privilege to what is relevant to the case. joining us in west palm beach, correspondent sam brock. good morning. reporter: willie, good morning. and speaking to that specifically, the breadth
close ties to politics. the financial conduct authority will be asking banks to disclose the number of accounts they have terminated or suspended and the reasons behind those decisions. hundreds of amazon sellers have complained that the online marketplace is withholding their money. amazon said it emailed sellers about a delivery date based reserve , which holds some money in case of refunds. but some sellers have written to their mps saying they cannot get the cash needed to run their businesses. shares of wework, the once globally hyped office space sharing company, have plunged after it raised substa ntial doubt about its future. the company s shares fell by close to 24% in extended trading in new york. wework was hit hard by the pandemic as social distancing rules drove people to work from home. and is facebook good or bad for your well being? we speak to one of the researchers behind a new global survey finding out just that, with some surprising results.