the country's debt is measured as a percentage of g.d.p. yet debt represents 50 percent and here 100 percent of g.d.p. . in 1902 maastricht treaty laid down the terms for an integrated europe in order to keep debt from getting out of control experts agree that a country's debt should not exceed 60 percent of its g.d.p. but that critical threshold has been largely exceeded by most european countries joins us from get us what he said so more now we have a pretty up with the beauty of rio might have a pretty rigid there. when debt exceeds a certain level tax revenues start going up to pay interest on the debt instead of funding government expenses hospitals schools teachers. how can that dates be repaid how can we ever get out of the spiral. if you for too long but in that lesson i guess your view divvy ossie were dead to see was everybody's wired. wrong he was operating in the cellar there covered with have no no but whatever that is sean hoare only 6. hossein. says they did to contact about what hamas which i meet on bossy when it drops belo

reporter: g.d.p.ivisions earlier indicate we did not have 3% growth the way many people expected we would. i would love a bit more of your response, specifically are there any underlying economic factors that most concern you? is there anything there in the data that gives you cause? ms. pelosi: i haven't seen all the data yet except the figure, that it's 2.1. closer to 2 1/2. the president used 3% as the standard. i do think that our g.d.p. will rise when we have -- when we raise the wage and people have more purchasing power because these are people who will spend, inject demand into the economy and therefore our g.d.p. will rise. i think it will -- if we'd comprehensive immigration reform where everybody is brought into the system in the way that is most productive, economists tell me, you want to grow the economy, have comprehensive immigration reform. how we not just have trickle down to grow our economy, but how we have to bubble up. that's a difference of opinion between our two parties. i thin

obana g.d.p. growth off a 6.2 percent that's what traders are telling me here is actually still strong in many countries here in europe they would like to have growth numbers like that but we have to remember china is still considered as an emerging market and these markets need a very fast growing economy well we'll have to get toward when we talk about 2 scenarios 1st if china runs out of liquidity and is not able to get more loans we have to remember that china has an enormous amount of debt and 2nd if the chinese government decides to stop their stimulus program with tax cuts for example in order to give the economy a boost in this scenario experts believe that china g.d.p. would be only at the level of about 3 percent ok so quite a lot of caution and a wait and see approach i guess to that stimulus but in the meantime the germans sound even gloomier about the outlook. yeah exactly what i wouldn't even say that investors here at the market are seeing all of this is that negative they don't car

dollars by 2024 that's nearly doubling today's g.d.p. i call that ambitious with new. actually it is indeed ambitious but and the she needs to be ambitious if it reaches 5 trillion dollars it will go all you can journey in terms of g.d.p. which he too brittle for sure but doing it in 5 years is a long elaborate rule for a 10 person to yoda to do to achieve that number not to be sure india has been a great person in the past but doing that what after quarter year after year is a long odds but one important point in this plan is a massive infrastructure investment something india desperately needs but can't the country finance that by itself. so one of the big things introduced by that was a big push in infrastructure across sectors theaters and instance and how saying we we what we evy share and there are a bunch of announcements and this to me does that india needs about $1.00 trillion dollars in the next 5 years to be able to finance this for example it gets to build up going to be 1000000 houses in the next 3 years to have houses for all of the population now they do

obana g.d.p. growth off a 6.2 percent that's what traders are telling me here is actually still strong in many countries here in europe they would like to have growth numbers like that but we have to remember china is still considered as an emerging market and these markets need a very fast growing economy and well we'll have to get toward when we talk about 2 scenarios 1st if china runs out of liquidity and is not able to get more loans we have to remember that china has an enormous amount of debt and 2nd if the chinese government decides to stop their stimulus program with tax cuts for example in order to give the economy a boost in this scenario experts believe that china's g.d.p. would be only at the level of about 3 percent ok so quite a lot of caution and a wait and see approach i guess to that stimulus but in the meantime the germans sound even gloomier about the outlook. yeah exactly what i would even say that investors here at the market are seeing all of this negative they don't care if

share was equivalent to 18 percent of china's total g.d.p. share in 1970 but by 2018 this number fell to 2.6 percent of china's g.d.p. so are many analysts believe that the city has experienced this slow motion seach from beijing that is china trying to make large investments in other business hops for example like the city of send to nurture hong kong in put for the country's political economy we recently reported that investors are gradually withdrawing money from hong kong juju fear of beijing's influence what what is the situation there now. while it's happening quietly and slowly no major company dares to speak out for fear of angering the chinese government but there is this wave of concern spreading through the community many international investors they really warry because they used to think that hong kong is a safe base for them to do business in china but if the hong kong government they cannot promise to actually drop that extradition deal then a lot of companies they might leave hong kong for up that is the nation's what about th

is calculated deception means that the net export component of g.d.p. has been holding up quite well actually what's knocking off the most percentage point from growth is actually final consumption expenditure how much more can china take that if this trade war goes on and if this trade war escalates well i think china can has still has some reserves they have a large. a very large portfolio of foreign reserves the central banks in the country have a reserve requirements of around 10 percent which means that there is room to lower more inflation is at a very low it's at a reasonably low level so the central bank still has and the mission to push money into the market if needed so i think they can hold on for quite a bit longer if you reckon that this slowdown in the economy is going to continue right i would say so and it's china's been undergoing a trending slowdown for a very long time and of course as china becomes more advanced country its growth is going to become closer to other advanced countries so this is something that is hard to stop but what

i do think that our g.d.p. will rise when we have -- when we raise the minimum wage and people have more purchasing power because these are people with will spend, inject demand into the economy, and therefore our g.d.b. will -- our g.d.p. will rise. i think if we had comprehensive immigration reform where everybody is brought into the system in a way that's most productive, economists tell me, you want to grow the economy, have comprehensive immigration reform. so it's how we have not just trickle down to grow the economy but how we have bubble up. that's a tinches of opinion between our two parties. i think what you saw was that the tax scam that they put out there has not produced the growth that the president was boasting would happen. and that it hasn't produced the revenue. hence we've had to lift the debt ceiling earlier than maybe people had expected. so that didn't work. it didn't pay for itself. it isn't growing the economy to the extent that the president said it would. so i think we have to, instead

it is definitely likely said the g.d.p. our law has been described as the biggest shake up to data privacy in about 20 years it's now mandatory because of that law to report data security breaches to the information commissioner it also increased the maximum penalty to 4 percent over turnover so in this. case the be a penalty amounts to 1.5 percent of its worldwide turnover in 2017 which is actually a lot less than the possible maximum fine could have been so until now the biggest penalty was 500000 or about 625000000 imposed on facebook or 500000 i should say imposed on facebook for its role in the cam bridge analytical data scandal and that was the maximum allowed under the old data protection rules that applied before the g.d.p. or law took effect so the message is clear in this new law that corporations are expected to treat customers data with the utmost care or there could potentially be a very big penalty to pay. and what is the company's what is british airways official reaction to the fine and the findings of yeah

dollars to china's export import bank equivalent to about one 4th of its g.d.p. but the chinese say it's increasing footprint in the south pacific is nothing to worry about nevertheless after western allies overlook the south pacific is a somewhat sleepy neighbor to a stray or new zealand and the united states they are now responding in an effort to check growing chinese influence after cycling destroyed tonga's historic parliament house last year the government 1st suggested china might pay to rebuild it then new zealand stepped in and now considering jointly funding the project. abas is on course to overtake boeing the european plane maker has already made more deliveries the 1st half of this year thanks to keen interest from china actually carrier and china has just ordered its 20 new a 358 from the european plane maker a deal worth some 6000000000 euros it's the latest sign that boss is expanding its foothold in the chinese market where local carriers are. more interest in european made planes and some part of the trade tensions with the u.s. . meanwhile comp

of 5 trillion us dollars by 2024 that's nearly doubling today's g.d.p. i call that ambitious wouldn't you absolutely it does it and she's got it and the she needs to. just lie to the gods or you can journey. we've really for sure but doing it 5 years ago you have to rule for. us to do to achieve that number to be sure india has gotten us to that what about the water you know that you know is that on us one important point in this plan is a massive infrastructure investment something india desperately needs but can the country finance that by itself. one of the big things introduced by that was a big push in infrastructure across sectors and on stands and how saying really. what ways evy share a bunch of announcements and estimate is that india needs about $1.00 trillion dollars in the next 5 years to be able to finance this example and gets to build up $20000000.00 houses in the next 3 years to have houses for all of its population now they don't stick at 50 and don't get markets just don't have that kind of debt and india will need to have each other al

for years double digits were the norm now the pace of expansion is slowing down in the last quarter g.d.p. rose by 6.2 percent solid by many standards but for china the worst performance since the early 1990 used the government's been keen to offer reassurance but doesn't deny there are problems from. from one year and generally speaking economic performance in the 1st half of the year was within a reasonable range and has sustained momentum and overall stability. however we should also be aware that the economic conditions are still severe both at home and abroad huge global economic growth is slowing down the external instability and uncertainty are increasing the unbalanced and in adequate development as home is still accused the economy is under a new downward pressure. much of that downward pressure is a result of the country's ongoing trade dispute with the united states which has seen the introduction of hundreds of billions of dollars in punishing tariffs. but there are home grown problems too for years chinese companies have taken advantage of largely on regulated lending leading

the percentage of the g.d.p. in 30 years that's going to have to be dedicated just to covering social security and medicare, we'll be taking in about 5.8% of taxes equal to g.d.p., that's dedicated to social security and medicare. but we're going to be spending 17.9%. remember, if we're going to be -- tell the truth, for many of us, it's now a battle to keep the ratio of our nation's debt to the size of our economy from blowing through that 100%. can we find a way to stabilize t in that 90%, 95% area? if this is now not the fantasy of coming -- look, it's my goal, it's my dream to come behind this microphone and say, we balanced the budget. we're paying off the debt. but demographically that math is almost impossible. so our job is to balance it, so as we're getting older as a society we don't blow through that debt to g.d.p. ratio, which all of a sudden blows up our interest costs. which consumes every next incremental dollar. and if you start to see, when you look at charts like this, it helps you understand th

the country's debt is measured as a percentage of g.d.p. here debt represents 50 percent and here 100 percent of g.d.p. . 1992 maastricht treaty laid down the terms for an integrated europe. in order to keep debt from getting out of control experts agree that a country's debt should not exceed 60 percent of its g.d.p. but that critical threshold has been largely exceeded by most european countries joins us from get us what he asked about it so more now we have a pre-nup with the beauty of rio might have a pretty rigid there. when debt exceeds a certain level tax revenues start going up to pay interest on the debt instead of funding government expenses hospitals schools teaches. how can that data be repaid how can we ever get out of the spiral. if you put 2 on both in that as in i guess your yet divvy almost have a dead to cvs everybody's word. or junkie was up i think they sell out jack of which i don't know but most of the dead sean hoare and his exam proof are saying of all of his says that they did to cause like the balliol were tossed k

of g.d.p. and down here, we have a period that starts at the origins of our country and concludes in 2049. from the start of our country to 2049, you can see the peaks. obviously our country was in bad shape at the beginning. d you can see the civil war, wars are times when we have to borrow money. wars are times that are difficult for economies and our expenses are up and people have needs and during that time we borrow money and we always tried or tried to pay it back down because we don't know when the next emergency will come along. we can see another peak here, world war i. we see the great depression right here. the great depression and franklin roosevelt's new deal which was financed with borrowing and then the tragedy of world war ii, the absolute peak of our debt versus gross domestic product. and why not? our world was at war and the economy was in a shambles and we had to finance that war. not only did we finance that war but the recovery of the world, the marshal l plan and rebuilt

just turn to our top story on north korea's economy its g.d.p. is estimated to have fallen by 4 point one percent last year benjamin silberstein is that is a north korean economy what she joins us via skype from seoul benjamin north korea's economy is decline now for the 2nd year running i mean clearly international sanctions are taking that toll how bad of the numbers do you think. i think they're quite bad which really isn't surprising given that north korea is essentially not able to export any of its main export commodities such as coal and minerals and products and other things so it's not not surprising i mean we're not talking about any devastating numbers such as in the 1990 s. but still it is looking quite grand and as you say trade figures and exports of plans drastically so how does this actually play out on the economy and what sort of impact does it have on ordinary people in north korea. i mean i would say that it's the worst for a certain specific sectors such as you know mining workers who essentially don't have. have any work to

the country's debt is measured as a percentage of g.d.p. here debt represents 50 percent and here 100 percent of g.d.p. . in 1902 maastricht treaty laid down the terms for an integrated europe in order to keep debt from getting out of control experts agree that a country's debt should not exceed 60 percent of its g.d.p. but that critical threshold has been largely exceeded by most european countries that can stretch and get us what he asked about it some more now.

>> the g.d.p. numbers to be honest. when we look at the e.c.b., the expectation is that there will using some -- in september if there is a surprise and they do something this week, then of course that's a different situation. the g.d.p. numbers are expected to come in soft based on inventories. but what people i talk to have telling me is to look beyond that, look at the consumer portion which is expected to be very strong. and if those numbers are strong, that's going to put a little pressure on the fomc next week perhaps even though the odds are that they cut be more neutral. if they are soft, you know you're going to have starting tweets about jay powell. >> what's wrong with that guy? [laughter] david: it's interesting to me that you left out mueller report -- mueller's testimony on wednesday. which i think is going to rivet the attention of a lot of traders on the street who will be watching that in real time. >> and donald trump's reactions to those hearings is going to be something to watch. david: and it will r

estimates government debt could reach over 200 percent of g.d.p. this year. 2016 saw the start of the food supply crisis since then the government has been handing out care packages to the poorest there is hardly anything to buy in the shops or anything ordinary people can afford the 3rd cause of the crisis inflation. people in venezuela spend a lot of time standing in line at banks so sure people are employed and those who are still can't afford even the basics. the i.m.f. also predicts that the inflation rate could soar to an annual 10000000 percent this year. as revenues collapsed president nicolas maduro started to print more and more money and turned the venezuelan currency collapsed and the black market flourished. there's no conflict in the supermarkets but you can get it on the black market where it costs 2 or 3 times as much. as that because of corruption yes it is where do the black marketeers get their goods.

to think the economic focus is really justified i think we should a new mission of progress i mean g.d.p. per capita. wealth which is an important indicator for progress but i think a lot of people globally are feeling that we have gotten richer societies without necessarily getting happier and we need additional new measure of progress and wellbeing happiness quality of life might be one of those now but government's main purpose by default is to make people's lives better at the greatest good for the greatest number so if they're doing their work correctly they would be taking care of all this institutional factors wellbeing why do you want them to be engaged in the subject if personal aspect of happiness. policies do influence people's lives i think policies the way we shape societies the way we build our cities i think that dose impact. well the quality of life and i think is also why we see some of the patterns we see for example in the world happiness report that looks at life satisfaction for people around the world we see things like healthy life expectancy we see things like the

company eskom imports operator transnet government debt would shoot up from 57 percent to 68 percent of g.d.p. escolar said it doesn't need a 3rd of its $48000.00 employees and for unions and ram opposed the that's a problem south africa's unemployment rate is at 27 percent with or without a bailout power blackouts in march were behind south africa's economy contract in the 1st 3 month. of the year eskom has been given an extra $4900000000.00 to keep operating and to pay down some of its debts trance that which runs the company's ports and rail freight is also at the center of numerous corruption allegations from overpaying for locomotives to paying advisory fees for non-existent businesses south african airways which employs $5700.00 people is another company that's been without a chief executive for the last few months in his resignation letter c o o. complained that his plans to turn around the last making airline were undermined by a lack of funding he'd requested $1500000000.00 well there's little prospect of the government allowing the big state firms to fail as that would damage the ec

her priorities among them she wants to get the defense budget in germany closer to the 2 percent of g.d.p. berlin has committed to as a member of the nato alliance. a solemn swearing in ceremony for the newest recruits to to germany's armed forces when they started a few weeks ago was enough on the line with still their chief now their commander is conservative c.d.u. leader on it but come on bella. shinseki think it's very good i think it's good that women too can show what they can do it can be science she seems to me to be a very stable minister stuff to do in the seventy's and isn't the you i think she does a really good job and i have complete confidence in her. but not everyone was so positive when the new defense minister took a stance on a topic that is widely unpopular in germany increasing the country's defense spending germany is not on track to meet the nato wide goal to spend 2 percent of g.d.p. on defense in a newspaper interview come khandala said she now plans on changing that. we have made a clear commitment to nato is 2 percent target it is clear that the 2 percent will

steel mills and pakistan railways these losses have now amounted to the equivalent of 4 percent of g.d.p. posing a serious fiscal risk there's 3 or bail package will be pakistan's 13th bailout package since the late 1980 s. the nation is struggling with slow growth in a budget deficit which has climbed to more than 7 percent of g.d.p. the currency revert serves standard less than $8000000000.00 or enough to cover nearly 2 months of imports clearly these billet packages are not sufficient and the nation will have to assume tough policies and forms to turn the ship around. i.b.m. announced tuesday has closed $34000000000.00 deal to purchase open source software company red hat and marking the largest acquisition in the 108 year history of the company they agreement between i.b.m. and redhat was made in october of 2018 but had to wait regulatory approval in the european union and the united states the deal was made $490.00 per. a share in cash a 63 percent premium on top of the stock price on the news i.b.m. stock was down just under one percent on the day while red hat management team must

percent over the next fiscal year that represents a slight improvement on the year 2018 to $19.00 when g.d.p. growth hit 5 a 5 year low of 6.8 percent forecasters are expecting investment rates in india to pick up following improvements in consumer demand and bank lending. the u.s. state of california has passed a landmark bill banning discrimination against natural hairstyles at work and in schools the ban aims to protect people with dreadlocks braids twists and locks for years u.s. courts had argued hair can be changed meaning anti-discrimination laws could not be applied the belt backers see they are changing the course of history. because of hair like this from now on employers and schools will no longer be free to discriminate on the basis of natural hair style. black people. who have always been discriminated against because of travelogues braids afros and they have a kind of style that you can name. that's not a fashion statement for us like that sorry that i am like you're discriminating against me because of my identity lawmakers say it was this video of a high school wrestler havin

dollars to china's export import bank equivalent to about one 4th of its g.d.p. but the chinese say it's increasing footprint in the south pacific is nothing to worry about nevertheless after western allies overlook the self pacific is a somewhat sleepy neighbor to a stray new zealand and the united states responding in an effort to check growing chinese influence after a cycle and destroyed congress historic parliament house last year the government 1st suggested china might pay to rebuild it then new zealand stepped in and considering jointly funding the project. here's a look at some other stories making headlines around the world china says it will impose sanctions on u.s. companies involved arms sales to taiwan the u.s. approved the fail worth $2200000000.00 earlier this week washington's approval has infuriated beijing which considers taiwan a breakaway province. british travel group. is an advance talks with chinese investors about an 800000000 euro rescue deal it would see thomas cook the biggest stake holder china's foes to and take control of its tour b