falling 3.7 percent in the 1st quarter and contracting nearly 4.8 percent in 2020 as a whole, as the nation struggled to deal with the cobra. 1900 pandemic. so what do these latest numbers tell us about the future of the 2 most crucial asian economies? well, to discuss, let's bring in boom by telephone. kristi i kristi, i want to start with china's economy, which is hip re pandemic levels. but there are concerns that the growth is flowing due to inflationary pressure and issues with the supply chain. what you as well as take steps the counter increasing commodity prices. what exactly are they doing there? and how is this all going to work? well, the central bank is unlikely going to inject a massive stimulus to boost growth, but i think it is reasonable though to assume that they will maintain an easing bias. many analysts, it's like the central bank to announce another cut in the amount of reserves. cash banks my hold in order to support further growth. so the p

b o c injected billions of r and b through medium term loans into the financial system on monday. but the cost of borrowing was left unchanged. and on top of that, china is also point to quicken spending on infrastructure project, which will also help to support the economy. so including this broad cut in mid july, the p, b o. c has now injected 600000000000 r and be worth of liquidity. however much more will be needed and is expected to come in the coming months unless china is willing to risk a hard landing goldman sachs expects further supportive policy measures including a larger amount of government bond issuance. a more supportive monetary policy stands with another cut and potentially some marginal evenings and regulation policies. but altogether, the big question right now is whether china can even afford the massive stimulus that helped to push the world out of its deflationary depression. in the aftermath of the lima failure, china was the growth engine of the world 20 years ago, post the double digit growth in the world, back into action, post crisis. but now it's getting more and more difficult as growth is slowing down

for the foreseeable future. and now i want to move over to japan. second quarter growth outpaced expectations of less than one percent, but japan's recovery still lags way behind what we are seeing in china, or even the us, which saw the growth of 6.5 percent in the 2nd quarter. the japanese economy minister said that he has very mixed feelings about this g d p. result adding the priority is to prevent the spread of the virus. it's very bad for the economy for the situation to continue to drag on. what factors are we looking at that are causing japan to strike? so when the 2 largest economies, they're not thriving, they still have their own issues, but they're making bigger leaps. yeah, thriving is definitely a bit of a stretch there, but i don't think any economy is driving right now. but to your point, japan's recovery has lag far behind china and the u. s. by quite a bit. but even pre pandemic though, japan was already struggling with growth even with it, given its dwindling exports. so japan has been experiencing less global demand for

its primary exports, which revolved around electronic equipment and car port parts. the japan ftp growth in 2019 was only point 27 percent, while the u. s. in china were in the mid single digit. so it's not really that surprising that now it's recovery balance is also less than that of the us. and china, japanese manufacturers are falling behind because they rely heavily on foreign demand. and now with global inflation on commodities and raw material pricing, that is likely going to pressure demand even further. and on top of that, with cove it the slow roll of it's vaccination prod, program and a series of state emergency measures. they've heard consumption japan's vaccine rolla is among the slowest for industrialized countries and tourism. that's also a huge part of the japanese economy. but now this industry has been hit very hard by the pandemic as a keeps foreign investors for investors and visitors away. and you have to take a look at, you know, they had this gigantic tourist event in the olympics where they didn't allow any

spectators to come. so that had to yeah, i mean, we're considering how much they definitely had to spend for that. now when we take a look to decide this all back together, when we take a look at both nations here, how big of a factor are these rising cases of the very worldwide? and could those continue to put pressure on those economy? it's interesting, it's kind of a big factor in different ways. china and japan, they've taken completely different approaches to cove it in the delta v area. so china has this 0 tolerance policy, which is among the strictest in the world. so as of august, china's current cove in 1900 break would barely register as a blip for most countries with only a $125.00 cases. a 125 cases among as 1400000000 people. but since that number has risen sharply since the middle of july, china, back to no tolerance policies in locking down cities. and by that i mean they're stealing off entire areas enforcing mandatory testing of tens of millions of people . they banned people for extra infected cities. canceling flights and trains and

shutting down tor sites. and these methods would, they would never work in the what. but arguably, it has been quite effective as china for a few months has entirely eradicated the virus in the country with daily life returning back to normal. but japan, on the other hand, the delta vary is spreading quickly, especially post olympics cumulative cases have now top 1000000 and the situation is worsening. and a state of emergency has been issued. but unlike china, they've actually never locked down. this is a complete opposite. japan has never had an official lockdown, but the government had repeatedly declared a state of emergency for some areas that revolve around eateries and bars. clothing early are not serving alcohol. japan's measures mostly rely on cooperative public and not a hard lockdown, but these have had little effect and slowing down the infection rate, but definitely to very, very important academies that we will continue to keep an eye on boom. but it's christy, i thank you so much. thank you. and just 2 weeks before the u.

s. was set to finally complete its troop withdrawal from afghanistan. after nearly 20 years of war, the taliban has seized power in the nation. the taliban moved throughout the country, capturing all major cities in just a few days, capturing the capital city of bull. on sunday, the afghan president, osh wrap gaffney fled the country that evening in an attempt to avoid further bloodshed, according to the russian embassy and campbell, which is one of the few embassies that chose to remain god. he fled with 4 cars full of money and hopped aboard a waiting help, a helicopter, allegedly, with so much cash that he had to dump some onto the tarmac due to weight constraints. the latest conflict has caused hundreds of thousands of people to flee their home with many attempting to flee the country. us president joe bible return to the white house from camp david to address the situation monday afternoon, saying that he stands by the decision and that the us did not enter the nation to nation build, but rather to prevent another terrorist attack on american soil. and as we look at

this massive news, the question becomes, how are investors reacting well for more on that, let's bring in a hobby or envy. he's ceo of optimist. l l c. octavio we're seeing global markets retreat for the most part on monday. although the down at the p were actually able to come up pretty much even is the situation to f dentistry and having any major impact or is this more about that growth data that we just talked about with christy. well, i think i can, i said as a whole, if it's simply too small economy to have a big impact on global market. so unfortunately, it's a, it's a better, very poor country and where it goes doesn't really match that much for the local markets. of course, regionally that might be seen as a big catastrophe. i think the chinese data is much more important, but as you point out, the s and p 500 is back in positive territory. so those are very temporary thing. the voltage we've seen over the course the past day has been quite modest in line with what you see in a day to day basis. so it looks like all these things are bit of your own for the, for the markets overall. i'm about china. the news coming from china is not very

positively sold, is very, very heavy floods in who a province seems that only bad news comes out over the course of past year or so. and that is concerning because there is a major agricultural center and it's a major center for primary materials and metals and minerals and think about so so that has more impact potential that the next kind of song. but i think the general consensus that's going to take care was fairly quickly. these floods are not a permanent fixture in hubert province. if there's going to be a temper thing and it will come back to normal quite quickly. and i mean, is there any economic impact we're seeing is to go back to the afghanistan issue that we're seeing from the more than 2 trillion dollars spent on that conflict that started nearly 2 decades ago. i mean, does that give us a long lasting effect or did we already kind of felt that pain and now we're just happy to supposedly have it over with i think that pain is low in the past. i mean, that's money that was out the door some time ago. it's what the accountants refer to as a sunk cost, meaning you spend the money was gone in the past. it would be very different if the

us were being present to bill. now, for 2 trillion that was not expected and say you left afghanistan to pay to print in dollars that would have a severe impact. but the fact that spread out over 20 years is in the past, i think was 40 fully priced into the market. and it's not really driving things at this stage. i want to take a look at the broader economic policy here in the u. s. and the recovery, there's growing conversation that the federal reserve could begin to taper its monthly purchases of $80000000000.00 in treasury security than $40000000000.00 and mortgage backed securities. as early as september. well, ending the asset purchases by mid 2022. now we know that officials have continually said they want to end bond purchase before they start raising interest rates from the near 0 that we're at currently. do you actually see this happening? and if they do make that move, well, this actually help address all the issues that we're seeing right now in the county with inflation. well, certainly if the fed does decisively increase interest rates and rush up interest rates that will have a damping effect on inflation,

we'll keep it under control. but they might have to take some severe action to make that happen. and in the process of crash, the equity markets, the run, the risk of crushing the housing market and the bond markets all this in the same time. so the real question, is it politically worth it for the fed to do that? and i think will only do that when inflation really comes a painful thing politically. and they get false into doing it. they are not going to want to crash the markets without a very strong reason to do so. i think the whole back on that i'm going to do that and i 5, is that crashing the market? is that solely based on the speculative nature of the stock market? and the fact that really all these wall street is they love the free money that they're getting from the fed. it doesn't really a 100 percent change the way they're making money. is that what this is all about? why i think it does change. we're making money bear in mind the fed, when they want to inject money into, into the money supply, they go out and buy bose. and so the drive, the price of bonds up, if they stop doing that, the price of bonds will come down and that will have

a negative impact there. a lot of the money that they use and print up to actually buy those bonds, find its way into the equity markets quite quickly as well. so the, the fed buying bond has a very beneficial impact on the market. and it's quite mechanical, it pulls into that quite directly their mind. they're also buying a lot of mortgage backed securities. so a lot of money fade is printing is also being put into the housing market. so if they type a back then purchase as a mortgage backed securities, they run the risk of the crash in the housing market and this politically very difficult for them to survive. i think very difficult for them to get a handle on. so i think they'll be very relaxing about raising interest rates and that rather just talk about of a single future. well, i would have said a different thing just a couple weeks ago and said that at the jackson, the whole meeting later on this month. and now some sort of tapering now with a delta 1000000 taking off the profound an excuse to carry on having a very loose monetary policy. so i think they'll grab the excuse along with it. well i, i just say, i guess i look at it and i say, yeah, okay, i understand what you're saying. it does affect the money there. but the reality is,

you've also had, you know, 2 years, almost of all this free money from the fad. so shouldn't that be enough? i have 30 seconds. i'll give you the final word on that. it should be enough. you know, i don't, i didn't know exactly what the end game is. it looks to me like their books themselves into a corner is going to be very tough to get out of. so i'm looking for them to sort of pull a rabbit up perhaps. and some of the magic trick to make this will go away and make this better. but i think it's, it's, they, they're in a bind, they, they run the risk crash, the market, or having high inflation. and that is the balance of the risk. so i want to see how they get themselves out of this, and we'll certainly have more on this as the week goes on. as we're going to see some minutes from last month's meeting our tabio moran, the ceo of optimist. l. l. c. thanks so much for your analysis today. thank you. and time now for a quick break, but when we come back, we take you back to the airline industry where the delta variant of cobra, 1900, is raising volatility in the sector. we have an expert on hand to bring us this

data flight. that's going to break here, the numbers of the quote, the with the ah now we have cigarettes, i just heard that it was

a healthy alternative to figure out how do we trust tobacco companies with their message that these new products are actually going to reduce? are these are making the tobacco. floors americans love buying homes? ah, this was a funded mental part of how our political leadership and our country, large, understood the bargain. you get a whole and then you know, rebel right, as the things you don't revolt if you have a stake in the system. be really interesting to dial back and think about the longer, deeper history of what housings meant in the united states. not just that old question of the american dream, but the bigger question of who the dream has been for

the the welcome back. the mobile is reportedly investigating a data breach involving as many as 100000000000 customers. the hacker allegedly still information including names, social security numbers and addresses. meanwhile, the culprit is seeking a ransom for the data to be paid in crypto currency r t. trinity chavez has more of the story today, popular mobile company, t mobile, investigating claims that the personal data of up to a 100000000 of its users has been breached. according to vices motherboard. a hacker on an online forum is claiming to be selling private data, which includes social security numbers, phone numbers, names, addresses,

and drivers license numbers. and while the foreign post itself didn't specifically mentioned t mobile, the seller told motherboard the data they obtained came from t mobile servers, the anonymous seller, reportedly seeking 6 bit coin or $270000.00 for about 30000000 of those accounts with the rest supposedly being sold through private channels, t mobile set in the statement, we are aware of claims made in an underground forum and we have been actively investigating their validity. we do not have any additional information to share at this time. t mobile has reported a number of serious data breaches in recent years. in fact, the company has reported a data breach every year since 2018. and if this data breach is confirmed, it could affect nearly every t mobile customer in the us because it's 2nd quarter earnings report last month. that telecom giant reported a 104000000 u. s. customers and other time of widespread digital insecurity in the united states, experts at the national security agencies say that consistently rebooting your

phone simply turning it off and then back on again oftentimes towards hackers. and they also recommend unas stalling applications on your devices. if you weren't using them, because by doing that, you keep your attack service more bounded. trinity chavez, r t. and as we get it to the end of the summer travel season, we wanted to take a look at how the industry is bearing while bookings are up from where they were last year. one airline is saying a recent surgeon cove case is related to the delta variant is hurting the bottom line south west airlines will fed last week that while demand over the upcoming labor day weekend remain strong, a slow down in business due to concerns about increased cases of the cro virus will make it hard for the company to turn a profit in the 3rd quarter of this year. the cancellation of festivals and trade shows and recent weeks has weighed on travel along with new restrictions to deal with rising numbers of cases in many major cities. many us carriers have also dealt with staff shortages and longer timeframes for repairs, which along with weather events have caused them to delay or even cancel flight. so

let's go ahead and take a look at the date of travel with jerry left. the author from view from the wing carry always a pleasure to have you on the show. we really appreciate it. what is the state of air travel demand as we think consumers become more and more cautious with new cases of the delta barrier or travel demand is basically flat, which is to say that it's still down a little bit more than 20 percent compared to pre pandemic. but at it settled down at much higher levels than we've seen, you know, at any time over the last 17 months. so it is strong and much recovered. but that recovery has real rather stalled out. and now airlines got a pretty big bailout to deal with the fall out from the pandemic last year with the rise in cases of the delta various are they going to be able to weather the storm? so at this point, absolutely, with the asterisk that everything in the pandemic is certainly been unpredictable.

so we can't, you know, we can, we can't rule out truly long tail events. it's likely that many of the airlines would have survived without going through chapter 11, bankruptcy even without at least a 2nd. and 3rd of my bill, i've certainly $79000000000.00 and appropriations. ready wasn't necessary to keep planes flying in the u. s. and all of the major carriers of the southwest have been to the courthouse steps if not once and sometimes cases $2.00 and $3.00 times. so they all have experience playing through bankruptcy. we're not likely to see that at this point without the bailouts. we probably would have seen american airlines in bankruptcy instead. at the end of the 2nd quarter, they had about $21000000000.00 in liquidity, which position them incredibly well to survive for quite some time. but you know, like some of the others, they have tremendous debt burden, which is going to have to be repaid over time, as well as very high costs compared to competitors. and so the airlines are an out

of the woods, but it's not likely that they won't. well, it wouldn't be beyond the pill to expect them to go back to congress for a 4th pilot. the apple. there's really no reason why they repeat it. it's up last also said business travel in september is expected to remain down 50 percent from pre pandemic levels, but better than the 69 percent drop in june. how concerning is the state of business travel for the entire industry? when a lot of people maybe realize, hey, you don't have to go back and forth so much when we can do things, you know, by teleconference or so on. i mean the fall is always going to be a little bit challenging for the airlines because post labor day end of summer with kids back in school. in many cases we're going to see leisure travel drying up. but business travel not quite recovering, as we would only start to see for many large businesses to return to office that is being put off somewhat. and so normally in the all business travel is that back

though, that replaces leisure. it was going to be slow, it's going to be slower than before. that's a big deal for airlines, because while it's fewer travelers and we'll see, leave the skies. and we're already seeing airlines adjust their schedules as a result, often pulling back somewhat. those passengers tend to pay more, their higher yield customers who are price insensitive looking more for a schedule and those passengers aren't going to be back as quickly. we're going to, it's going to be longer before we see, you know, large events, large indoor events, conventions returning and you really can't do business to office until offices are completely open and people are back in the office at full, at full speed. we are going to see some business travel, especially we're seeing some among small and medium sized enterprises. but until that we get that return to office. we're certainly not seeing a company's imposing business travel to a large extent on their, on their employees. and gary, i know that you've been traveling quite a bit here and there,

it's your job. that's what you do. not only do you have to travel around for that job, but you also have to write about it so much. so i have about 30 seconds left here, but what the sentiment from the consumer that you were seeing out there is it as busy and airports are plain feeling safe? what do you think in their well, it certainly has been incredibly busy and it's been very difficult and frustrating as airports aren't fully back to capacity offering services. as many vendors, restaurants in airports aren't fully staffed. and so it's difficult to get everything that you need with lots of longer lines. are there been lots of cancellations the summer and that's frustrating, difficult to get through to airlines difficult to get customer service when you needed. if i could leave folks. one tips. if you can't get through to you or line, try one of their part call centers. those usually don't have the same one. hold times at the u. s. for mines do. and i know there are probably a lot of folks who made that airline status back in 2019. but unfortunately the pandemic, it's probably wait on that. you're not getting that back unless you get into the friendly skies. maybe 2020 to gary. laugh author

a view from the wing. thank you so much. thank you. and that's it for the time you can catch boom bus down to man on the portable tv app available on smartphones and tablets. you google play and the apple app store by searching portable tv, portable tv can also be downloaded on newer model. samsung, smart tv and roku devices, or you can just check it out at portable dot tv. well see you next time on boone, by me. ah me ah oh, yeah, you could, i could be a

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ah ah ah, in the headlines this our here on our hail thing, gulf cobble that bought the coffins about guns, tried to flee the country, disturbing images show people desperately trying to sing on to an airplane as it tries to take off because we understand the some later. plunging to that death. the mission and get to stand was never supposed to been nation building. it was never

supposed to be created to, you know, by centralized democracy, defiant, president biden. defense is troop withdrawal. blaming the unfolding tales and gone us on a deleted fleeing on the afghan army for not fighting auto renew off. gun reality makes you leaders very anxious over potentially massive flow of refugees, straight to europe. and along with everything that has followed has not been asked .