all right, andrew collier, managing director of orient capital research. thank you very much for that 1st taste of the market since the buy back a buy over of a kidney series by u b. s. thank you. russian president vladimir putin has welcomed what he calls china's constructive role in trying to end the war in ukraine. chinese furnishing thing is traveling to russia for a 2 day visit. she call his country's friendship with russia an all encompassing partnership. katrina, you report from vision as she didn't being has visited russia a time since becoming chinese president. his most recent trip was in june 2019 during an economic forum. c will travel there again this week in what's expected to be a major show of chinese support from moscow as it continues its invasion of ukraine . crucial with china and russia working together, the world will have the driving force toward multiple levity and the great at the mock or c. e international relations stand and a global strategic balance, and the stability will be better ensured the visit comes as china seeks to exp

we will discuss that with an author andrew collier,, coming up. and what the message of the china gdp growth goal sense about overall policy. this is bloomberg. rishaad: upgrading muted response to the national party congress at the -- a pretty muted response to the national party congress in the weekend. domestic demand will be there higher priority. and the fastest increase in defense spending, 200 $25 billion. we also have property in focus with country garden. yvonne: look at that drop of 10%, that is not just on the back of what we heard from the npc where there will be regulated expression of the property market, but also contracted sales came out, 24.85 billion remembering. the market really taking a hit this morning on the back of a lot of big news. rishaad: all right, let's have a look by this plan, this company setting that cautious growth target -- this country setting that cautious growth target. let's bring in our next guests. stephen, let's kick things off with that 5% growth target, around 5%, that is the verbiage. . does that repre

well, andrew collier is the managing director of orient capital research. now he says the causes of s v b's collapse a clear they were not cautious enough in terms of their risk assessment. and they basically focused a lot of their business at a single sector, which was pretty risky, the high tech sector. and they also put a lot of the money, the deposits they received from people in 2 bonds. and when the interest rates went up, far more than people had expected than the value of those bonds went down. so, and they force a lot of their customers not only to borrow from them, but also to put their money in their bank. so they're basically put all their eggs in one basket. and when that basket exploded, collapse, and they were stuck with bad bad bank, while biden's can be focusing mainly on the domestic audience. so he's trying to reassure people that they are, they're going to step in and help banks that are in trouble, which they've done very quickly. i mean, it's a very effective regulatory system in the united states. it. ringback that those reassuring re