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hello there. we begin in the us where, in an extraordinary move to contain panic in the banking system, 11 of america s biggest financial institutions have agreed to a $30 billion bailout for first republic. shares in first republic plunged, as investors worry that it could be the next to fail. it follows the stunning collapse of two other specialist lenders, including silicon valley bank. samira hussain reports from new york. the collapse of two us banks have spooked investors who are now left wondering which bank could be the next to fail. that s been putting a ton of pressure on smaller regional banks. depositors at first republic have withdrawn billions of dollars and the regional banks share price has been cut in half. now the biggest of the american banks have stepped in, led by the likes ofjpmorgan and citigroup, 11 companies have agreed to make $30 billion of uninsured deposits in first republic. they have done this in the hope that it will be enough to shore u ....
that is despite us china trade hitting a record high last year and with president xi increasing his power this expert what s wrong what s wrong tells us what this means. when will the rivalry have the consequences for the rest of us? we ll hear from the former head of the monetary fund s china division. the man behind brands such as intercontinental, holiday inn and crowne plaza tells us by a big expansion is not stopping him sleeping despite the delicate state of the global economy. welcome to talking business weekly. the us and china are the world s two biggest economies and for decades they have helped to power the global economy meaning that when they do well so does the rest of the world, but there is a growing amount of hostility between them whether it is spy balloons, differences over the war in ukraine, taiwan or coronavirus, those tensions are not always directly related to trade but they re having a growing impact on business deals. today the first shipment o ....
A number of things in china have made them look a bit more pessimistic. china has been growing slower and travel has been really difficult so companies in general, their responses were more negative than they have been in a long time. what does that mean in practice? are they not putting money in in the same way? 74% said they are planning on leaving right now but it does seem to indicate companies are not willing to invest more money right now. they cited a number of reasons. number one, us china relations is a top concern for the third year in a row. number two, number of companies told us executives are just not willing to take expatriate assignments in china and then overall there is political pressure which makes it difficult to do business in china. they are trying to de risk their supply chain and so what that means is, when companies invest, they are looking at markets other than china so they re having a china plus one strategy and realising they can no longer rely on china. ....
Biggest economies and for decades they have helped to power the global economy meaning that when they do well so does the rest of the world, but there is a growing amount of hostility between them whether it is spy balloons, differences over the war in ukraine, taiwan or coronavirus, those tensions are not always directly related to trade but they re having a growing impact on business deals. today the first shipment of some 480,000 bottles and cans of coke was loaded aboard a special train here in hong kong heading for china. trade and business have been at the heart of the us china relationship since the end of the 1970s when the likes of coca cola, ibm became some of the first foreign companies to take advantage of china opening its economy up to the rest of the world. now many of the world s biggest companies are there such as walmart and the drug maker pfizer. they are among the more than 900 members of the american chamber of commerce in china. ....
And one of his ministers explained the impact on trade. translation: the us has taken restrictive measures against trade with china and damage the confidence and willingness of chinese and us companies to cooperate with each other. so what is the impact of all of this on the companies trying to navigate politics? the american chamber of commerce in china just released a new survey looking at these issues and i have been speaking to its president. great to have you on the programme with us. good to be with you. you ve recently released a survey of your member and we re talking major companies like pepsi, johnson &johnson, general electric and so on, and paints a somewhat pessimistic outlook, doesn t it? companies are really tired of three years after covid. ....