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this is "gps", the global public square. welcome to all of you in the its and around the world. i'm fareed zakaria coming to you from new york. today the on the program, we'll bring you the latest on the suspected chinese spy balloon. then, we'll move to the economy. but for a change, it might not be bad news. >> we have some very good news about the american economy. >> the imf global outlook is less gloomy than it was a few months ago. and then the fed said it wasn't ready to declare victory on inflation, but it is cooling. i will ask larry summers if he agrees. also, crime...

this is "gps", the global public square. welcome to all of you around the world. i'm fareed zakaria coming to you from new york. today on the program, we'll bring you the latest on the suspected chinese spy balloon. then, we'll move to the economy. but for a change, it might not be bad news. >> we have some very good news about the american economy. >> the imf global outlook is less gloomy than it was a few months ago. and then the fed said it wasn't ready to declare victory on inflation, but it is cooling. i will ask larry summers if he agrees. also, crimea, many powerful pe...

let's now get down to business and starting in the uk. how attractive is the uk as a place to do business? later today we'll find out when the ons releases its latest data on the level of foreign direct investment into the uk in 2021. a recent survey conducted by the accountancy firm pwc suggests britain was the third most important place in the world for businesses to invest, behind the us and china. but the head of the cbi is not so optimistic. in a speech today tony danker will call on the government to not shy away from hard decisions that can reverse the uk's trajectory of falli...

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The world. with the flee biggest economies, it enjoyed special status thanks to the u.n. veto and close relations with washington and impressive armed forces and a long tradition of generating ideas on global issues rooted in the legacy as a liberal country with deep historical ties around the world. it was a voice that was heard everywhere and listened to seriously. but over the last decade, defense spending has stagnating while funds for the bbc have been cut in real terms. with brexit, even the rhetoric about a larger role collapsed as politicians ran away from anything that seems too globa...