optimistic and yet pessimistic the imf paints a funny picture forward for the global economy. we will have the latest. too big to ignore for the spain's vice president speaks to the bbc on china and the ship to the international word. —— shift to the international world order. hello and welcome to asia business report. our top story, keep the pressure on interest rates or risk a financial crisis. that was one of the ominous warnings given by the international monetary fund to member countries as it kicks off a series of spring

meetings with a washington this week. it also downgraded its global growth this year and deciding weaker than some academies for the pages been looking to this for the great to see you on this show. what have we heard _ to see you on this show. what have we heard from _ to see you on this show. what have we heard from the - to see you on this show. what have we heard from the irs i to see you on this show. “grief have we heard from the irs goes back they said their apparel is buying abilities that is for economic growth. it said it could lead to economic crisis as a result their calling on central banks around the world to keep tight monetary policy and that means you maintain high interest rates they say they've actually given their they“ve actually given their forecast for the year and next. they loaded by about one tenth of a percentage point so about 2.8% global growth this year, 3% next year. that is determined on a number of factors and they say if things go sour or badly as they could cover something could be about a 15% chance of that we may see global growth in the order of

only i%. this is the weakest global growth they forecast in 30 years. they said this is because of weakness in economy, including germany, brazil, india. but they do say there has been some bright spots in the us and the uk has not been as bad as many have expected. we also heard from the chief executive, the head of the imf he says now that central banks need to prioritise price stability over financial stability. stability over financial stability-— stability over financial stabili . ., , ., stability. lots to pick through and sift through _ stability. lots to pick through and sift through and - stability. lots to pick through and sift through and all - stability. lots to pick through and sift through and all of. and sift through and all of that. mainly sounding negative. have there been some optimism in all of this? optimism primarily came from the camp of the us treasury secretary janet yellen. she said that it is reasonable bright and she wouldn't overdo the negativism for the pointed to the us economy she said for example, they are labourfigures economy she said for example, they are labour figures have been strong. she said the energy gusts have remained low and the ability of the us economy to deal with

supply—chain issues has also been positive. she also pointed to the fact that we've seen the recent follower of the likes of sp and credit swears, pointing to problems potentially in the siding put back financial sector. janet yellen says that actually reforms made in the aftermath of the global financial crisis mean the banking sector is actually a relatively good shape. she did say we need to be visually going forward in monitoring the banking sector as the future and energy in ukraine. thank ou for and energy in ukraine. thank you for keeping _ and energy in ukraine. thank you for keeping us _ and energy in ukraine. thank you for keeping us up - and energy in ukraine. thank you for keeping us up to - and energy in ukraine. thanki you for keeping us up to date with the latest developments from the imf. as katie was trackable, that's a picture with the global economy. i will zoom in to china. the imf is forecasting that china's economy will grow by 5.2% this year. earlier i asked for insight and said beijing could be that target but have challenges domestically. i think we are all headed

slightly closer to five but we did make is the official target. we are still fi part five. the reality is the data is having saw. and this is true for increasing auto sense. already with march data and more generally we just don't see a lot of splash that we used to see of consumers going around. yes, it's going to be very five, a little bit five little bit at lowe's for china this year what are the major headwinds that are affecting the outlook for china's economy? first and foremost competence. it“s economy? first and foremost competence. it's not that consumers consume more, they have extra savings, they“ve have extra savings, they've been keeping them for three years with zero covid policy. the thing is, they are not

confident about the future. that“s dragging down both housing purchases, which are still very stagnant. and of course anything that is consumer durable such as a car. that is dragging down consumption more than anything, competence. consumption more than anything, competence-— competence. often when i speak with the economists _ competence. often when i speak with the economists who - competence. often when i speak with the economists who are - with the economists who are perhaps a bit more bullish on china they talk about the fact that there's a huge savings pool there, people have been stalking money away because of the pandemic and they are just waiting to spend it because now the time is right. is that what you are seeing in the data? hat you are seeing in the data? not et. for you are seeing in the data? iirrt yet. for consumers to splash their extra savings they need to be confident about what they are seeing in the future. that is what we are lacking. more than that, i think they are also worried about less growth and less employment. let's not

forget the youth in china remains high. and was adamant that employment was a target. he moved up the target from 11 million to 12 million, which means that even more needs to be created to year in china. if you are not sure about your job, especially if you're young but more generally about your ability to consume in the future you may not splash your savings at dues that everybody is talking about.— is talking about. these sense ofthe is talking about. these sense of the global _ is talking about. these sense of the global economic - is talking about. these sense of the global economic is - is talking about. these sense of the global economic is as i of the global economic is as dire as we are hearing from the imf, in the past china“s been that saviour, it“s imf, in the past china“s been that saviour, it's been the thing that boost legal global economy. can we depend on china's growth this time china“s growth this time around? china's growth this time around?— china's growth this time around? ~ , ., ., ~' around? we should not. i think this is not— around? we should not. i think this is not about _ around? we should not. i think this is not about china, - around? we should not. i think this is not about china, china l this is not about china, china growing 5% is of course less then perhaps expected but still positive. it“s then perhaps expected but still positive. it's about the us and

europe garlic much less allow that. frankly speaking china is in a slowdown we need to find other sources, other engines of growth. we know that asia and india are there as major higher growth environment for economies than china. i think that's where the growth is going to come for the next ten years. going to come for the next ten ears. going to come for the next ten ears, ,, , . years. the spanish vice president _ years. the spanish vice president and - years. the spanish vice president and ministerl years. the spanish vice i president and minister for economies president and ministerfor economies is the size of the chinese economy means it cannot be overlooked and that there's been a tectonic shift in the international world order. a north america business correspondent was speaking on the sidelines of the imf. you cannotjust — the sidelines of the imf. you cannotjust ignore _ the sidelines of the imf. you cannot just ignore the - the sidelines of the imf. i'm, cannotjust ignore the chinese economy. it is wrong of the main trading partner, it is a very large economy, it is very important player. we have entry interesting and engaging constructively. at this point in time i think we have two top

priorities in this regard. first of all to engage and ensure that china engages in a constructive manner to put an end to the war soon as possible. secondly, to avoid a trading and market fragmentation that slows down growth and makes us walk backwards. and lose all the progress we have achieved in the last decade, thanks to international trade.- the last decade, thanks to international trade. how did the frayed _ international trade. how did the frayed relations - international trade. how did | the frayed relations between the frayed relations between the united states and china impact of the countries? we are livin: impact of the countries? we are living through — impact of the countries? we are living through a _ impact of the countries? we are living through a tectonic - impact of the countries? we are living through a tectonic shift i living through a tectonic shift in the international world order. it is clear that there are new superpowers and they are new superpowers and they are are important geopolitical tensions so multilateral institutions have a key role to play in ensuring that we are all on the same table, we engage constructively and find common solutions to global challenges. d0 common solutions to global challenges-_ common solutions to global challenges. do you think the united states _ challenges. do you think the united states should - challenges. do you think the | united states should remove challenges. do you think the - united states should remove any trade barriers or has with

china? i trade barriers or has with china? 4“ . trade barriers or has with china? ~ ., , china? i think that putting trade barriers _ china? i think that putting trade barriers and - china? i think that putting l trade barriers and resorting china? i think that putting - trade barriers and resorting to nationalistic policies and market fragmentation, we live through this and we know it and publishers us all. we should all have space in international trade for a mark that works to the benefit of citizens throughout the world. how worried are _ throughout the world. how worried are you _ throughout the world. how worried are you about - throughout the world. how worried are you about trade protections?— worried are you about trade rotections? , ., , ., protections? history has taught us that trade _ protections? history has taught us that trade protectionism - protections? history has taught us that trade protectionism is i us that trade protectionism is not good for any of the partners. we have every interest in ensuring there is trade framework that works to the benefit of all countries and all citizens throughout the world. to and all citizens throughout the world. ., ., ., , world. to india now because it's world. to india now because its reporting _ world. to india now because it's reporting inflation - it“s reporting inflation numbers from march later today for the prices are expected to have moderated after remaining elevated for several months for the power india business correspondent such as this report. inflation is expected to dip below the reserve bank of india's upper tolerance limit for the first time this year. the number is expected to come in at about 5.8% as

opposed to 6.0% of the last month according to a consensus estimate of economists polled ijy estimate of economists polled by reuters. this is largely driving by accounting for half of all consumer level inflation for dip in vegetable prices is expected to brought down inflation but the cost of fuel has gone up recently and back of herjob overall inflation again accordingly to economists. last week the reserve bank of india gave reits a hold up to six consecutive heights, surprising markets which were expecting a quarter percent increase. the governor did say the central banksjob was not governor did say the central banks job was not finished and the war against inflation had to continue given that it had proven to be more sticky than expected. the reserve bank of india expects inflation to remain at about five in 2024, which began on april one. that brings us to the end of asia business report at this hour. thank you forjoining me. as

always all the bbc stories are on the website. tuesday with bbc news and i will see you at the next hour. —— do stay with bbc news. ian ward has turned his bodmin living room into a slot car racetrack. i've got over 105 cars now, 14 box sets upstairs in my bedroom and probably another 26 that are loose. it takes my mind off things. it“s brilliant. i love it. he rediscovered his childhood hobby a year ago and says it's really helped with his autism and mental health. the scale gives me the

opportunity to be flexible. the scale gives me the opportunity to be flexible. so if i don't like the track, if i get bored of it, i can take it down and put a completely different track up. in my brain, my autism accepts that because it's something completely different. ian has also taken his track out on the road, hosting monthly meets in this local community centre. oh, it's a great group. this is brings together like minded people with racing cars. it's a great two hours on a sunday— it's a great two hours on a sunday evening. my first time down - with ian's club tonight. this is how big club starts. little small things- like a track on the floor built into a big club. i wish iwish in i wish in the best of luck. hi. i“m kirsty with the catch up. four days of strikes byjunior doctors have started across england. they want a 35% pay increase.

the union representing them say they've had 15 years of below inflation pay rises. health secretary steve barclay says he won't talk to unions until they scrap the what he calls unreasonable demands. and he says the government needs to focus on slowing down how quickly prices are rising. next, i million smokers in england are going to be offered a free vaping starter kit by the government. the hope is that less than 5% of people will smoke cigarettes by 2030. but charities have warned that swapping cigarettes for vapes is nowhere near sufficient in stopping addiction. the plans also want to tackle underage vape sales and illegal vape products. some other stories now. and logan paul signed a new multi—year deal with wwe when he first joined back in july. lots of people thought it was just a bit of a pr stunt, but it looks like he's serious about it. and the fans say he's got talent. and millie bobby brown

is engaged. the 19—year—old stranger things actress posted this picture with her boyfriend, jake bonjovi, who she“s been dating for two and a half years. it's time now to leave you with ten seconds of fossils. i promise it's not from a blocked toilet. scientists say that this is a squirrel from about 30,000 years ago. they reckon it died while hibernating back in the ice age. you are all caught up now.. have a good night.

hello there. i“m paul scott at the bbc sports centre. here's what's coming up in the programme. a master class in manchester city thrashed bayern munich to take control of their champions league quarter final. benfica get the blues as inter milan take control of their tie, winning 2—0 in portugal and not quite convincing on the clay. novak djokovic begins his monte—carlo masters campaign with a win but calls his victory ugly. hello and welcome along to the programme. lots to get through. we will start with football and what was a big night in the champions league.

there was a clash of champions at the etihad stadium as