for more, let's bring in stephen engel in hong kong.hat about 5% growth target has been a bit more challenging given the economic slump in china. what are we expecting policymakers to do? >> obviously, as we go through october, that about 5% growth target is in severe jeopardy given the property sector was, the fairly week consumer spending and overall, that is all contributing to a deflationary environment in china. hitting that goal will be tough without going back to that old cocktail that china oftentimes uses in downturns. that is selling bonds essentially to funnel into infrastructure projects. sources are saying that is what the leadership is considering right now. it may not be the big bazooka stimulus. we are talking about one trillion yuan of new bonds, sovereign debt for spending on infrastructure. 137 billion u.s. dollars considered by most economists to be fairly modest. i think it would be more important as we saw on the golden dragon indexed over night in new york, it would be a positive message coming out of beijing as w

let's bring our chief north asia correspondent stephen engel in hong kong. that we've all been waiting for? stephen: it is something that has been speculated for a couple of weeks. the scoop of raising the deficit ratio. that's what state media has revealed after a two-day meeting of the national people's congress that came out with a number of people's moves including new sovereign debt to be issued, and to go into some infrastructure projects. hopefully put a floor into the dating economy and into 2024. hoping it doesn't come worse. the stimulus will add half of a percent -- .5% to 2024. a trillion yuan in sovereign debt issuance is about 137 billion u.s. dollars. what it also does is alleviates the burden that is usually placed on local governments. when the marching orders come down from beijing to deliver growth and to essentially further add debt loads at the local level, this time around it looks as though the central government will shoulder some of this step burden more than in years past. that's been a common theme with xi jinping. it does not want

>> stephen engel here at the belt and road forum. we heard from xi jinping and the successes. but given the death crises around the world -- debt crises around the world and china struggling with its own debt crisis, should there be caution as far as lending to the developed world that is indebted? >> i think i would be careful in characterizing china in the debt crisis. i do not think it is reaching a crisis stage so far. in terms of china letting two countries along the belt and road initiative, i think china has been downplaying its capability of providing all the financing capabilities to belt and road projects. i think china is also re-freezing belt and road for a much longer term. i think things are changing in terms of the narrative and the substance related to the belt and road initiative. >> he is hosting vladimir putin and trying to engage with the united states, talking about china not being in favor of bifurcation in the world. how important is it to get china and the united states talking again? >> i think things are improving at the moment. i think present a she

yvonne: stephen engel there.g calls to play a key role in helping ease tensions in the middle east. our columnist says china's response so far has fallen short. is china not using its influence enough? >> frankly, it simply is not. i was listening to what stephen was telling you about how much the relationship between russia and china has grown. in the ukraine war when the world appealed to beijing, can you step up, it did not use its influence with russia. it is not using its influence with iran at this time. we have seen a muted response when it comes to a condemnation of what is happening in the middle east region. it falls short of what china professes that it wants to be a voice of peacemaking. beijing could do a lot more to make the situation in the middle east better. rishaad: china is an economic giant, but when it comes to foreign policy, is it a --? >> i was speaking to a lot of people who worked on policy affairs with china over the years. as china's economy has grown as fast as it has, its foreign pol