Suppliers following its full Scale Invasion of ukraine in 2022. Bilateral trade between the two countries topped 240 Billion last year, up 26 on a year earlier. Has the Balance Of Power now shifted with russias increasing reliance on its eastern neighbour . Joining me now is chris weafer, chief executive officer, macro advisory ltd. Thanks forjoining us, good to see you. Firstly, what were you expecting from these Trade Talks . Anything material or substantial to come out of it . Not to publicly, i think it is more a Case Ofjust again showcasing that this is the main political and economic relationship from moscow. It shows the complete shift away from what was very heavy trade with europe, with the western nations, that has now moved to asia. Kind Ofjust Restating that and restating the fact that and restating the fact that moscow sees this as its main relationship going forward, it used to be the case that the forum held annually in june was the main economic Trade Show Case for russ
As the us exchanges open here in new york. Lets cross live now to Shams Afzal, Managing Director at carnegie investment counsel. Of course, in the last hour, we had that adp data out. How are the markets reacting to this . I think this number, as well as tomorrows total data will probably not change the narrative that has been set already that the Jobs Market has softened quite a bit compared to a year ago. I think the more important data that came out earlier showed the number ofjobs available. If number of jobs available. If you number ofjobs available. If you went back to february 2023, there were almost two jobs open every Wedding Work out there, now that number has shrunk to every 1. 1 jobs to every willing work out there. They are finally getting these numbers so this put the Rate Cut Regime very much intact starting from september and that will be on benefit to the overall capital markets. . Benefit to the overall capital markets. ,. , benefit to the overall capital markets. . ,
To the end of august. Im nowjoined by our North America Business correspondent ritika gupta. We are having some technical problems. Bearwith we are having some technical problems. Bear with us a second, hopefully well be able to get her to talk about these usjobs numbers because they have come in under expected and thatis have come in under expected and that is fuelling concerns about a recession as well. So the economic health of the us, which of the worlds largest economy is under some doubt at the moment. We are still having some problems there. Sorry about that, we had some technical issues. What does this tell us about the late market in the us . This tell us about the late market in the us . This was a Surrise Market in the us . This was a surprise to market in the us . This was a surprise to the market in the us . This was a surprise to the downside, market in the us . This was a surprise to the downside, Usi Surprise to the downside, us companies adding 99,000 jobs in august. T