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What this materials more means for the rest of the world. The consensus is that will be damaging not fatal for the United States. The reason china dominate the market is not because it is the only place where gallium and germanium exists, but because it is by far the cheapest place you can get them from. You dontjust dig them up from the ground, they are derived from a more complicated Reduction Process and china has that capability. So governments and businesses will have to rely on cheaper substitutes and alternative sources. It means prices will go up, it means some products might be less effective and some production right be delayed. 50 some production right be delayed some production right be dela ed. , delayed. So this sort of poses a bit of an delayed. So this sort of poses a bit of an existential delayed. So this sort of poses a bit of an existential thread i a bit ....
inflation and high interest rates, and banking instability have contributed to this year s gloomy economic forecast stock but it is a global recession is not likely stop business reporter katie silver has been looking into this story for us and joins me now on the programme with the details. great to get you on the show. talk through what you have seen today. 50 talk through what you have seen toda . ~ ., , talk through what you have seen toda . ~ .,, , today. so the imf has seen it has been today. so the imf has seen it has been a today. so the imf has seen it has been a perilous - today. so the imf has seen it i has been a perilous combination of vulnerabilities and they are calling on central banks around the world to keep monetary policy tight and that means high interest rates in order to stave off dental economic crisis or a decrease in economic growth. so the fund has revised their forecast for this year and next, lowering both from what was predicted in janu ....
We were very much hoping it would move from policy guidance to policy implementation. beverly was not the case. we are seeing a lot more of rehashing what has been said that last week. so i don t think there s anything new in there. it does suggest to us that the government is moving towards this consumption led, driven stimulus, which frankly i think would be quite healthy, given where the witness is going into the second half of this year. going into the second half of this year- this year. but they did not have any this year. but they did not have any sort this year. but they did not have any sort of this year. but they did not have any sort of spending | this year. but they did not - have any sort of spending cuts orany have any sort of spending cuts or any sort of spending packages? are they being aggressive enough to get china s a comme back on track? i think ultimately the government and try to engineer towards a slower, healthier growth. and so gone are the days were rece ....
Panning out? sorry, couldn t hear what your reporter said | hear what your reporter said earlier, let me report for asia we have growth at ii.i6 s in 2023, this reflects a couple of big changes, emerging markets in asia we have growth at 4.3% and four the advance we have i.6%, this is an adjustment upwards of 0.4 percentage points for emerging markets and lowerfor points for emerging markets and lower for advanced economies points for emerging markets and lowerfor advanced economies in lower for advanced economies in asia. lowerfor advanced economies in asia. now, for emerging markets, the big news for china where we have increased production sent the projection from 4.4% from 2 october by 20% now. this reflects largely a rebound in consumption following owner opening of the economy forced economic restraints being lifted, so we have consumption led growth or projected consumption led growth in china which will provide the rest of the region in asia. it s interesting you say that, ....
Really taking the amount we invest as a fraction of our income and output, back to where it was 15 or 20 years ago. that will really drive a recovery and we have to change the nature of that investment so it s all green, sustainable, and there are tremendous opportunities there to make those investments. there is plenty of savings to finance them, but we need is the commitment to that form of growth in the policy is to draw the investment through. and that will give us a real sustainable recovery, what we don t want is a recovery, what we don t want is a recovery like the roaring 20s100 years ago, after the second world war, sorry, after the first world war, sorry, after the first world war, of course, 100 years ago, in the roaring 20s, where it was consumption led and we need investment led, steady growth with investment led, steady growth with investment of the right kind. that would be enormously attractive to get people back to work, drive out of the recession from covid and tackle ....