. >> world bank president david malpass says a global recession is not off the table. the vendor is reviewing its global growth forecast following china's lifting of its covid lockdown. david malpass told bloomberg that the lack of investment in developing economies is a concern. >> what we have seen in the latest is advanced economy growth expectations have gone up some late last year, the u.s., china in particular, as china lifted the embargo in the lockdown, and so as we are looking at it now, the growth is slow, but positive in advanced economies, but developing economies, not much investment taking place. that is the big challenge. >> the sec is suing tron for violating security rules selling unregistered crypto securities. regulators accuse sun of breaking antifraud and market manipulation rules. the sec named lindsay lohan among celebrity's who illegally promoted the tokens without revealing compensation, with most paying a fine to settle the charges. china evergrande group has announced its long awaited restructuring plan for the world's most indebted developer

my colleague aaron heslehurst has been speaking to the world bank president david malpass and asked himas a result of the us china competition. both of those big economies are potential investors around the world so the countries are competing for that investment and that is may be healthy for developing countries to look and see if there are options. what i encourage strongly is they be transparent in their contracts. that's been one of the problems. if you write a contract and say, "don't show it to anyone else," that is a minus. get away from that and also the collateral of governments in africa, they should not be offering collateral as an inducement to make alone because it locks it up make alone because it locks it up for generations.— up for generations. that's what's been _ up for generations. that's what's been happening. i what's been happening. especially with chinese loans. china moved to that kind of lending, also with escrow accounts, and we've encouraged them to move away from that. at them to move away from that. at any stage during your tenure, have you been concerned a

my colleague, aaron heslehurst, has been speaking to the world bank president david malpass and asked of the us—china competition. both of those big economies are potential investors within... around the world. and so the countries are competing for that investment, and that�*s maybe healthy for developing countries to look and see that there are options. what i encourage strongly is that they be transparent in their contracts. that�*s been one of the problems. if you write a contract and say, "but don�*t show it to anybody else," that�*s a minus, so get away from that. and also from the collateral. for governments in africa, they shouldn�*t be offering collateral as an inducement to make a loan because it locks it up for generations. that�*s what�*s been happening, right? that�*s been happening. and you can see more of that interview with the president of the world bank on talking business with aaron heslehurst this weekend, on the bbc news channel at 1530 on saturday here in the uk, and in the rest of the world on bbc world news, where the first airing will be at 2130gmt on friday.

of course, i want to thank david malpass for his service as president of the world bank and his commitment to a smooth transition. under his leadership, the bank has measurably improved the lives of people around the world. i'm looking forward to productive meetings over the next two days. there's a lot to do. with those remarks, i'll be glad to take your questions. reporter: thanks very much, secretary yellen. alan rappeport with "the new york times." treasury has expressed concern about china's deepening ties with russia and also about it obstructing debt restructuring efforts. what is your message to china on these issues? and do you believe china is committed to stabilizing the economic relationship with the united states? secretary yellen: so, let me say with respect to sanctions and aid to russia -- we have made clear that providing material support to russia or assistance with any type of systemic sanctions evasion would be a very serious concern to us. and, we will certainly continue to make clear to the chinese government and to companies and banks in their jurisdiction about what

to contain the global banking crisis in the fed's next move is the president of the world bank, david malpassry under president trump and, david, one of your -- one of the things you have talked about for years and years and years are things like moral hazard and no real interest rates causing the misallocation of assets. and since you're at world bank, you think that it is not only ill advised, but it affects the people you're trying to help and the countries you're trying to help it adversely benefits wealthy people, wealthy nations, and doesn't benefit poor nations >> hi, joe when you guarantee something that is not costless and the cost goes to the rest of the society, so over the years we had the ze 0% interest rates and that channeled capital up at the top and now they're borrowing huge amounts so the problem this causes for developing countries and poorer countries and also i think for average taxpayers is they don't have access to capital it is being allocated toward the ridge and my concern looking forward from this current crisis is that it will make the conditions worse in terms of