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Years so we finally want to address that issue so we had four elements in mind one is the. i think we have a global excess capacity but one is clear we cannot solve the issue of china with the european merger but we can also not only let's say put the finger on china if we are not ready to do our homework so the civi is really addressing the structural overcapacity problem in europe the chinese problem need to be solved in china as you point out there are manifold problems facing the european steel market at the moment one of them is the terrorists the united states slapped on european steel h...

It's going forward by another name that is the problem not china and overcapacity of steel. i think we have a global excess capacity but one is clear we cannot solve the issue of china with the european merger but we can also not only let's say put the finger on china if we are not ready to do our homework so the civi is really addressing the structural overcapacity problem in europe the chinese problem need to be solved in china as you point out there are manifold problems facing the european steel market at the moment one of them is the terrorists the united states slapped on european steel ...

Focusing on china. he did say the policy needs to be more surgical in his wordsism take a look at what he had to say. >> the president's right to point out that there are abuses, there clearly is dumping and trans shipping of steel and aluminum. there's a big overcapacity problem. let's focus on the abusers of that. that's why we think the proper approach is a more surgical approach so we do not have unintended con consequences. that's what we've been encouraging the administration. kevin brady he's been working on solutions with the administration. those talks are ongoing and i'm hoping we ca...

There are other other sub indexes there. in the latest report, credit suisse also estimates china's inflation will soar to 5.6% this year higher than any other forecast. he's the chief regional economist for credit suisse joins us live in our studios. great to see you. thanks for coming in. it's a fascinating report. it really goes against a lot of market consensus. first, let's talk about services inflation. what is driving that up? >> well, when the salaries continue to go up, inflation is bound to happen. one, the manufacturing sector. the salary is increasing them, as well. first, it's muc...