To an all weather partnership. Kishore mahbubani was singapores former ambassador to the united nations. He gave me a sense of what lies ahead for eu china relations. Trade differences are normal. The important thing is notjust the trade in balance but the trade volume. At the end of the day, as you know, europe is looking for new sources of growth for itself and europe is acutely aware that china is going to become a very, very important market for eu products too, and let me give you some very important statistics so listeners understand how things have changed. In the year 2000 the european economy combined, eu economy combined was six times bigger than chinas economy. Now they are the same size. In five years time china will be bigger than the european union. Europe is aware of this. While they will have difficulties over trade they also rely china is it going to become the big market for them also, so thats also part of the european calculations. Do you seeing that the Balance Of
But stuff like knife crime, you really do need to speak up because it could end up getting someone killed. But they arent just focusing on bristol. Leanne and her best friend carly have been to westminster to try to persuade the politicians. And he said it could be something that could be added to the already first aid and stuff thats already on the curriculum. So, for me and leanne, that was a really positive response because it wasnt a no, it was a this could possibly be done. This is where weve left all his stuff. Oh, wow it brings me comfort because i feel like hes here. I dont want to take it down. No. Id be sat down watching telly and hed be sat on my lap, literally on my lap, and id be like, max, youre six foot two. I should be sat on your lap, not the other way around. But i miss that. Max should have been starting his gcses this week. It was just upsetting. I wish i wasnt sat here doing this, to be honest. Yeah, but i just. I would like max to be remembered in a good way. And
Be bigger than the european union. Europe is aware of this. While they will have difficulties over trade they also rely china is it going to become the big market for them also, so thats also part of the european calculations. Do you seeing that the Balance Of Power shifting, then, and they have to adjust accordingly . I think the europeans are acutely aware of the change in the Balance Of Power. And remember, for europe today, one nightmare that they really worry about is the reelection of donald trump coming in for a second time as president of the united states, and they know that donald trump has absolutely no emotional connection to europe. He does not quite see the value of his european allies, and europe may have to get a much more difficult geopolitical environment. In that difficult geopolitical environment, when europe is looking for ways and means to possibly restrain russia at that point in time, maybe they can talk with china. And as you know china played an Important Role
And well be looking ahead to the Eurovision Song Contest with a Special Report from the host city malmo. Live from london this is Business Today im lukwesa burak. Later this morning the uks First Quarter growth figures will be published. The uk economy grew slightly in february increasing hopes it is on its way out of recession, just. The economy grew by 0. 1 boosted by production and manufacturing in areas such as the car industry. On thursday, the Bank Of England boss said the Monetary Policy committee needs to see more evidence that price rises have slowed before cutting Interest Rates. Governor Andrew Bailey said, he was optimistic that things are moving in the right direction as rates were held at 5. 25 . I think it is. I am encouraged by all of this. Very encouraged that again we have to achieve an Inflation Target that is sustainable. That is ourjob and what we do. The news is encouraging. And what we do. The news is encouraging and what we do. The news is encouraging. Clearly y
The news comes after the boss of the Bank Of England, andrew bailey, said the economy had turned a corner, but wasnt yet in a strong recovery. For more on this im joined now byjackie bowie, head of europe at chatham financial. Where is this growth coming from . The good news is the Surprise Upside in gdp was actually very broad based. If you look across the different components of gdp we saw a good recovery in the Service Sector activity. Actually good recovery in Consumer Spending as well because obviously thats been a big focus with The Cost Of Living issue and of course then with inflation that we have seen over the last year as well. So i pretty broad based recovery and again it took some economists by surprise this morning. Are you breaking out the champagne now, are the recession time is completely behind us . It certainly looks like we completely behind us . It certainly looks like we have completely behind us . It certainly looks like we have exited completely behind us . It ce