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Nearly 12%. instead it peaked at 5.2% and has now fallen to just over 4%, saving more than 2 millionjobs. and with the fastest—growing economy in the g7 this year, over 400,000 more people on the numberfor the pandemic and business investment writing, it is no wonder that borrowing is set to from three june £20 billion last year, the highest ever peacetime level, to just £46 billion by the end. as we emerge from the depths of the worst recession in 300 years we should be proud of our economic record. the economy is stronger because of the plan we put in place, because of the actions we too...

There is still a lot we don't know about how the sanctions will impact the central bank. it is not like venezuela, not like iran. this is a major g7 economy, right. when you take a step back and think about it, this country has $46 billion in transactions daily on the market. and most of that, 80% is usually done in u.s. dollars. they have to figure out the 620 to 630 billion dollars in reserve, how can they access, can they do it as a result of the sanctions? one of the questions we have been asking as well, i asked the former deputy chair of the russian central bank, i said how difficult wil...

About those long tables that he has been sitting at when he has been meeting with his aides, but that is kind of a physical manifestation of a russian president who is listening to fewer and fewer people. we will see if these real world impacts change his mindset. richard? >> starting to hit the pocketbook. hud are, you know this better, putting on your treasury hat for a minute. russia has really experienced a great five years when it comes to gdp and now all of the sudden, the u.s. is saying hey, you may do 46 billion in international dollars every day in her transactions. but 80% of that is...

Those concerns. according to the german magazine "build" sergei lavrov was on a flight headed to beijing but the plane turned around and flew back towards moscow. nbc news has not been able to confirm that reporting. china called for dialogue. joining me is host of "the world tonight." always great to see you. let's talk first about the incentives that china has. china says russia is its good friend. let's put up the graphic how much business they actually do with russia versus how much they do with us. the e.u. is actually the person, the entity in the world that they do the most business wit...

Markets, from the e.u. and united states where they make a whole lot of their money. their trade with china, their trade with the e.u. is $838.1 billion in 2021. it was $755.6 billion in 201 with us. it's $146 billion with russia. why on earth are they not just turning on russia with the rest of the world? >> well, joy, it's a calculations you have to make. on one hand, you're right, they depend on the relationship with the united states and europe and democratic countries that have stood against this invasion and they don't like the kind of massive instability of the global economy that we're...