it is the richest country with everything from a thriving wine .ndustry we sat down with a panel of economic to talk about south africa 's finances and the elephant in the room, the country's credit rating. >> obviously difficult times. china's growth is slowing. we have seen a plunge in the last couple of years. we also have a threat of a possible downgrade, perhaps i will just kickoff and asked the representative, conrad. what do you make of the budget? does it leave africa in a better or worse position? conrad: if i could get everybody not to use the term downgrade, we call it noninvestment grade. what i would look at is what our -- would like to do is look at what our concerns are and contrast it with the budget we have seen today. when you look at the negative outlook we put on our industry last year, it was a negative.

were also very strong markets for the ndustry. >> but it is not just about the flash. ed as a car gard show that appeals to the broader markets. there are many more affordable nd practical models as well. car makers are scaling it down. the theme is bigger is not better. take audi's smallest crossover yet, the q-2, appealing to a more eek logically minded and urban driver. >> the jobless ray in the eurozone has dropped to a four-year lone. there were 105,000 fewer seekers of jobs. it pushed the unemployment lower by .1% so 10.3% overall. that is the lowest we have seen since 2011. there are still stark differences between the 19 countries. greece and spain have jobless rates above 20%. germany, meanwhile, has the lowest at just 4.3%. the french unemployment rate stands pat at 10.2%, and to drink that figure down, the government is pushing for every overhaul of labor laws. president hollande defended this controversial reform. in short, the government looked to make it easier to hire and fire. that sparked bad blood. the president said he is open to compromise, but he i

. >> looking at those in michigan that are impacted by the auto ,ndustry sec. earnest: there is no denying the progress michigan has made in digging out of the hole created by the great recession. in many ways, the state of michigan was hurt as badly as any other state. but because of how closely tied their broader economy is to the -- you can look at the news reports of the time, the american auto industry -- weeks or even days from totally collapsing. that did not just affect the big 3 u.s. automakers, it would have an effect up and down their supply chain. one million jobs potentially at stake here. that is why the president believed that action was required to support that industry and make the recovery that we see today possible. the reason that the michigan economy is doing well now is that we do see the american auto industry is performing at unseen levels. their profits are higher, they are making more cars and selling more cars than ever before. that is a good thing for the michigan economy and happens to be a darn good thing for the u.s. economy too.

there is a certainty is that our .ndustry partners need is important for our troops, for our partners, for the planners inside the department to know what resources we have to work, and for our partners around the world. meanss what the secretary when he says he supports this deal. he does not mean it in a sense .hat we had to read it clearly that is always a possible outcome when you're seeking a compromise. you may not end up with exactly what you wanted. , onecan go to master chart thing that i just want to say is an important part of this process is looking at our budget -- we made theon choices, as i described in the , with theof last year belief that are topless down a couple in the future. our profile that we had for the fy 15 budget, for the fy 16 budget and now for the fy 17 budget. other than accommodating the particular reductions in the budget deal from last welcome we have been remarkably consistent. both of these are better than any team i know of in saying euro the resources we need to and there is a reason for that. described, that we like the rebalance, have remained