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Us treasury secretary janet yellen called the downgrade arbitrary and said Economic Conditions had improved under the biden administration. The news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. Lets look at markets now in asia. Japan is currently down by over 2 . Hong kong not that far behind. This was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. Lets discuss this with tom stevenson, whos an Investment Director at fidelity. Good morning. Janet woody allen saying this is arbitrary. I have her statement janet yellen and she said she strongly disagrees and says it is based on outdated data. That is based on outdated data. That is riuht. Is based on outdate ....
united states and around the world. i m fareed zakaria. today on the program president putin s most formidable political rival was locked two ed up two years ago. but he still has a voice, his message carried on by his inner circle that inspires russia s opposition movement. i have an exclusive interview with his daughter, dasha, on the state of her father and his mission to bring democracy to russia. and what might befall the world in 2023? ian bremmer will lay out the biggest political risk of the new year. the biggest risk is putin, agenting as the most powerful rogue state in history. and we ll have the economic outlook. but first, here is my take. it was hard not to be fixated on the drama that unfolded in the house of representatives this week, when the republican party had a nervous breakdown in full public view. this crisis was entirely of the party s own making. for decades, it has whipped its base into a righteous fury, by promising radical polic ....
this is gps, the global public square. welcome to all of you in the united states and around the world. i m fareed zakaria. today on the program, president putin s most formidable political rival was locked up two years ago. but alexi navalny still has a voice, his message carried on by his inner circle, one that inspires russia s opposition movement. i have an exclusive interview with his daughter, dasha, on the state of her father and his mission to bring democracy to russia. and what might befall the world in 2023? ian bremmer will lay out the biggest political risk of the new year. the biggest risk is putin, acting as the most powerful rogue state that we have ever dealt with in his story. and rucihr sharma will give the economic outlook. but first, here is my take. it was hard not to be fixated on the drama that unfolded in the house of representatives this week, when the republican party had a nervous breakdown in full public view. this crisis was entirely ....
From 2.9% gdp growth and last year we expected 1.7 for this year. 1.2 for next year. some of the issues the economy is facing has to do with volatile external demand so of course brazil is a major commodity exporter and amongst the top five agricultural producers across 35 different economies. commodities. for the country, job generation particularly formaljob generation and stimulating consumption, these are keys. an area where the country is struggling with his food inflation. the performance in agriculture and that how that translates into prices for consumers within the country and notjust as a source of ....
It means that their input costs are structurally so much higher for the foreseeable future, from the united states, from the western hemisphere and much of asia. what that means is de-industrialization. a lot of their corporations are going to leave and not come back. it s a real negative impact. second, the europeans have the money when things get ugly to pay for the inputs to ensure their working class is taken care of. the developing world does not. if you re not a commodity exporter in the developing world, you face a serious fiscal crunch, lots more social instability, maybe a financial emerging market crises. i want to end on that point. you talk about arrested global development. this is something that strikes me. you know, we have spent the last few years talking about oh, you know, we overdid globalization, we overdid market reforms. the problem is, the only way to grow, the only way to raise incomes is by embracing markets and trade and all that, and all of these developm ....