there is a new china. you can speak to that new china. the new board, the entrepreneurship.nk we are going through a cyclical, you can't help but go over that adjustment. that will last two or three years. it comes at a bad time for the rest of the world, because when you look at its impact on commodity prices -- and not just commodity prices, but the other economies in brazil and so on -- and when you look at the vulnerability of the rest of the world, in terms of monetary policy, that's a bad combination. we'll get past that. a bad year in china is a great year in almost any other country. francine: do you question their commitment to structural reform? what are the dangers, if the structural reforms are not being pushed through? madame lagarde: we went through a couple of years of intense discussions with the chinese authorities, because we were going to review the baskets of currency that define the value. it is the elusive currency of the imf. if you asked me, if the chinese authorities would complete the reforms, that they had to take in order to satisfy the criteria o

this as a symbol of the transition from the old china town of my parents days and my youth, to the new china down that is much different in the sense of diversity, dialect spoken, regional roots. because what happened in 1965 was that congress passed a an immigration libelization that opened up more league spots for people all over the world and immigrants from asia, china included, took advantage of the increased immigration slots, and this is the explanation for why beginning in the late 1960s the united states is becoming much more multicultural and color ieszed, if you will. the stories of some so called people of color, minority americans are still not very well known to the american public. in the literary cultural world, and in the narratives, the immigrant experience, there are many many many choices for european immigrants. for the jewish american experience. the irish american experience, including for the german american experience. for the greek american experience. and i think there is also a great body of work for the african-american experience. some great writers who have con

there is a new china. you can speak to that new china.hink we are going through a cyclical, you can't help but go over that adjustment. that last two or three years. it comes at a bad time for the rest of the world are in when you look at its impact on commodity prices. when you look at the vulnerability of the rest of the world in terms of anna terry policy, that's a bad combination. we'll get past that. a bad year in china is a great year in almost any other country. francine: do you question their commitment to structural reform? is there a danger? christine: we went through a couple of years of intense discussions with the chinese of parties because we were going to review the baskets of currency that define the value. this is what central banks around the world use. if you asked me if the chinese of 40's would complete the forms they had to take in order to satisfy the criteria of that currency, i would've said i don't think so. when the authorities their mind and are determined for strategy, we have seen in that case an absolute det

third, china will nudge her new driving forces for growth through reform and innovation. for the coming years, china's development priority is to maintain medium to high growth, advance to medium high ends of the industrial chain, and provide new driving forces for the world economy. there is a lot we will do and can do. and the time for me today is not enough to expand on all those things, but here i would like to share with you three examples of china's exploration and practices of reform and innovation. the first example concerns a small mountainous county named timbla in china's province with a population of 150,000. this county saw 1,100 new enterprises last year alone. the increased margin was 20%. the local people were so enthusiastic about having their own star tops because the local government opened up a green channel for them by adopting sweet measures. first, items that legally require no administrative approval did not need to have government approval. second, items that usually require diminutive approval. and thirdly, purchases can be completed conveniently

is this an indication that the market has already factored in the bad news from china and now startingmove on to what would be considered normal trading. >> i think they have factored in the bad news from china, because no one can be certain how bad it can get. it really seem like they had lost the pot. we have seen this before. they said they would not go back in and buy up shares, and there were rumors today that that was happening. and you also have to look at the currency devaluations. people think that china fixed the rate higher today, but for eight days it was fixing lower. and of course when you lower the value of your currency, your goods are cheaper to buy abroad. but there is a problem with that. we have seen a lot of what we call competitive currency devaluations. there was a great study done by the financial times where they show from where boosting the fortunes of this country, it is lowering the overall volume of trade, that is bad for the global economy, and the u.s. economy is plugged into the global economy, and as i said before, the federal reserve is very concerned

you really have to look at old china and new china. what it comes to the hard landing, in the old china, it has already happened. trade has slowed a lot, globally we are feeling the concert dances of the low weird -- the lower commodity prices. the hard landing in old china has happened. at the same time, you have a new china in the service sector where growth is doing better. the issue is that the chinese authority wants to add more stimulus. this is the tightening capital controls, this sets them up for more monetary easing. the fear was that monetary easing would lead to large capital outflows. then you can implement more easing, we expect two more rate cuts and we expect multiple reductions in reserve requirements for the banks. betty: stay with us for a moment, we will have you back after the commercial break. we will talk about the next move chinae fed, the ecb and and how much more dovish the ecb is going to be. we are live from the world economic forum that starts tomorrow morning. we will be talking the biggest , includingsines

some big movers in hong kong, new world development offering a hefty premium for the china unit. s driving shares up, up 21%. 780.ffer is for we usually see a gap there. it may not happen. new world down 2.4%. hostile takeover, down 7/10 of 1%. the move seems to be driven by general sentiment. we are seeing accelerated losses in australia. the worst hit market this week. down for a third day, sharp losses. in 13 out of 13's box -- stocks in the mining space. back to you. rishaad: we have this earthquake recorded near 5.1 north korea's nuclear test site. south korea says it was artificial. we have been monitoring the headlines. what is the latest? the south korean defense ministry saying intelligence officials are analyzing the data right now. quake happened just about half an hour ago, 5.1 magnitude, as you mentioned. is to make an important announcement at 12 30 p.m. korea time, so maybe just an hour from now. p.m. korea time, so maybe just an hour from now. south korea will convene for a security meeting in half an hour. japan's chief cabinet secretary speaking in tokyo, suspect

you went to china for "the new yorker" for the first time in the '70s. to lay the groundwork, not like what bill whole world is to reporters but what wasn't like to arrive in china as a reporter? how did you live? food did you know, ? literally like others to make sense out of china from the outside. precisely with the refusal to except us. and that willingness to assimilate. and it was a moment the trip if you do. i spoke chinese. as the indebted -- ended adjustability. nobody felt comfortable having an informal conversation with you. to allow unauthorized interaction. with that you work brigade in the commune and then in the factory in shanghai. very ritualized. and wondering what to make of the place. >> and when i arrived with already starts ringing. but this is the style. democracy palestinians have all types of things to say but it is easy 1/2 to read it. if you can't find a story there go do something else. >> you are on a work brigade you're not there to write about politics but how d.c. a story then yorker expects what? i cannot even imagine. >>

china. several new yorker magazine correspondents discuss covering china for two generation answers talk about u.s. and chinese perceptions of each other. from the asian society and new york city, this runs 90 minutes. >>> good evening, everyone. good evening. tonight is a sellout and it's so great to have you all here on this rainy and cold but very festive time in new york. and for a really fabulous evening. this evening the "new yorker" on china, a look back at four decades of reporting on china is indeed a special night and also a convergence of two anniversaries. the "new yorker" is celebrating its 90th this year. it was one of the first western media to have access to china after the revolution? 194 ? 194i? 194n? 1941949 1949. and of our five distinguished guest panelists tonight, one who is not a guest, our own orville schell, they have collectively over 100 years of observation and writing on china. and i think you will all find this very enlightening and no doubt entertaining. this includes of course our own orville schell whose asia societies center on u.s.-china relations, arthur ro

. >> also ahead, a new year and year of change in china. the new two-child policy. >> good evening, everyone. and welcome to the program. we're in london. if anyone thought this new year would bring new hope for peace in the middle east, the dramatic escalation of the cold war between saudi arabia and iran could derail that possibility. sunni, saudi arabia, followed by bahrain and sudan have severed ties, and the uae has downgraded relations. they accused someone of terrorism after which a few dozen extremists stormed in tehran. the arrest was ordered of those responsible, and saudi arabia says it's severing all ties with tehran. >> we decided to cut off all diplomatic relations with iran and also all air traffic to and from iran. we'll be cutting all commercial relations with iran and have a travel ban against people traveling to iran. >> for its part, tehran accused ree yaud of looking for excuses to further harm relations between their two countries. >> translator: iran is naturally taking regulations to protect all diplomatic relations.

by the authorewed of age of ambition, chasing fortune, faith, and truth in the new china. in one or two generations you have seen everybody go from a bicycle aspiration to bmw. if the one child policy had helped people get to that stage i would be all for it. the problem was it didn't have that much to do with this economic growth china had for the last 40 years. the impact ofs breast-feeding policies on american society. breast-feeding fits into an american health paradigm that blames individuals themselves for poor health outcomes and american health care. >> watch book tv every weekend. television for syracuse reader s. >> next, ashton carter talking about isis. he was asked about the u.s. sailors who were released from iranian custody.

iachim: well, first of all, think you have to look at old china and the new china. when it comes to the hard landing, in the old china it has already happened. manufacturing is in recession. trade has slowed a lot. globally, we are feeling the consequences of the lower commodity prices. the state owned enterprises in the old economy are under pressure. the hard landing in old china has happened. at the same time, you have a new china in the service sector where growth is doing better. the issue, however, is i think the chinese authorities want to add more stimulus. this is why they've been tightening capital controls .ecently in various ways this sets them up for more monetary easing. the fear is that monetary easing would lead to larger capital outflows. you have to stand against the capital outflows and then you can let more easing. we expect more rate cuts in china and multiple reductions in reserve requirements from the banks. betty: that was the pimco meaging director joining earlier this morning on "bloomberg markets." much more in the next 20 minutes. carl ica

bad news for china, as you were saying. news for brazil, a contraction there of 3.5% predicted in 2016, which will really weigh on the whole latin america economic area. for europe the imf said the refugee influx is now a major economic challenge that has to be tackled. >> we have been trying to get handle on how bad things are in china. what over all is the report saying about china? >> reporter: well, what it says is that what happens in china is going to have major international consequences. it predicts growth in china staying at over 6%, over the next two years. as we know most countries in the world would be delighted with that, but compared to the kinds of double-digit growth that china has enjoyed, that does amount to a sharp contraction. what is the international impact? well, it compresses commodity prices. it hurts poor countries in places like africa that have been selling minerals so lucrative to china over the past decade, it also has an impact on the global oil price. the majority of countries in the world are

news. >> lauren: china's growth domestic products grew 2 nt 68% last year. it's down 6.9 from last quarter. economic growth for all of 2015 was the slowest in 25 years. so let's get a loser look at how asian markets reacted with business reporter tracy yu. tracy is a reporter for chinese state television. good morning, tracy. >> tracy: good morning, ladies, like you said, asian markets are all in the green. the shanghai composite bounced back by more than 3.2% after beijing released gdp. that's pretty much in line with market expectations. that lifted a little bit. like you said, it was the lowest of growth number in 25 years. over in hong kong people seem to be taking the number well. and over in tokyo, japanese markets also snapped losing streak finally gaining about half a percent. that's after u.s. dollar climbed against the japanese yen to 117 level and over in south korea t kospi snapped a losing streak led by pharmaceutical companies as well as samsung electronics. back to you. >> lauren: all right, tracy, thank you so much. >> nicole: we will find ou

transforming a country they grand old man of china ready for the new yorker. e is a pioneer in the writing of china served as the dean of the university, scholar, writer, producer and teacher develop to start with. distillate groundwork not that the whole world is like reporters others who have been trying to make sense it became something of a tremendous lower precisely because of this refusal to accept us. so when i finallyi finally got there there was something of a moment of hedge era, trip to the sort of holy land if you will but i have to say that once there i was pretty perplexed because i spoke chinese. a little chinese. i thought i have a rudimentary understanding. yet when confronted is a foreigner there is a profound and just ability. no one felt comfortable having an informal conversation much less inviting in the house let's us in writing any kind of unauthorized interaction. it was very much -- and i was on a youth work brigade working in a model agricultural commune and then an electrical machinery factory in shanghai, and it was stylized, ritual

we discussed how the "new yorker" covered china. but i want to mention how the "new yorker" changed china. one of the many changes i think is the wave of nonfiction writing in china. "new yorker" inspired a lot of chinese writers to write nonfiction. i wonder for the panelists tonight. i don't know how much you read about chinese writer, cover china in nonfiction style. what do you think i'm missing in those pieces? and what makes a good writer in nonfiction writing? it's not a question you could answer in one minute. but i wonder if you could boil it down. >> i think it's true that there are a lot of magazines and periodicals that have sprung up. that i think have been very much inspired by the new yorker. i can think of two that i know, that sort of narrative form where you are given enough time, to sort of make your case. the when i first started with the magazine, josette mentioned, it was quite astounding, it was five consecutive issues. you had a chance to feel, it wasn't like evan described, the 9,999 words. i think the challe

china's economy... could have a domino effect: ((jill schlesinger/cbs news business analyst) if things slow down in china the fear is the rest of asia will slow down, europe will slow down and naturally the u.s. economy will also slow down )) ((dave courvoisier)) wall street is hoping to find some comfort in friday's labor report. signs point to another uptick in hiring, which would indicate that despite the turmoil overseas, the u-s economy is ((dave courvoisier)) > china's economy might be in trouble... but what does that mean for us? we look into the country's role in our local economy... and what that means for las plus... wet weather in the forecast tedd? tedd florendo we are tracking some isolated showers out there dave, and we'll talk more and how long they'll stick around. don't miss your forecast coming < it took joel silverman years to become a master dog trainer. but only a few commands to master depositing checks at chase atms. technology designed for you. ((paula francis)) > we just talked about wall street's reaction to the bad economic news out of china this week... with triple digit plung

built for business. >> lauren: in asia china stock down 7% before being halted for trading after new hows china's economy continues to contract. shanghai down about 7%. nikkei 3%. kospi down as well. live report from beijing. good morning, i'm lauren simonetti. >> nicole: welcome back to laura. she had a beautiful baby girl. we are under pressure. >> lauren: we certainly are. also not helping stocks oil prices. saudi arabia cut diplomatic ties to iran after protestors set fire in embassy in tehran. they are trading to the upside. 37.40 is your quote right now. >> nicole: president obama plans to use oval office powers to tighten control gun laws, gop presidential candidates come out loudly. we will have the reaction on that. good morning, fbn:am, first look at what's moving in today's markets, latest breaking news and what to expect on the day ahead. >> lauren: closely tracking stock market action after that steep selloff that started in asia. right now u.s. stock market futures looking pretty terrible on the first trading day of the year. dow down 270 points. that started in asia. bu

saw theeastern china new year through a blanket of smoke. gs in china's major cities, eight times the accepted level over the weekend. a change in the weather is expected to improve things. in orangeaised pollution alert, the second highest as levels hit 480. shanghai is reportedly to be in moderate pollution levels today. i quick check of the markets, trading in the asia pacific low volumes as we get back from holiday. nikkei 225 down about 1%. earlier, lows in the session. the asx of my 7/10 of a percent. we had nine straight sessions of gains. we lost momentum on new year's eve, but we are back in the money today. south korea is opening an hour later today and there is no trading in new zealand. they are enjoying the new year's holiday. all right, shaping up to be potentially another challenging year for asian economies. let's bring in mark matthews. he is the heady of -- the head of asia research. a few months ago, we talked about potentially another asian financial crisis, or something worse. do you think we have managed to sidestep that

news again. as for what will happen in china, chinese etfs that trade here suggest that chinese markets could openown roughly 6% tonight. for "nightly business report" i'm bob pisani at the new york stock exchange. >>> well, you might think low fuel prices would help transportation stocks. they haven't really. the dow transports are now in bear market territory, down 3% today and 24% from their highs last february. as morgan brennan explains, it's a group that many wall street watchers are paying very close attention to. >> reporter: it's a new year but not a new trajectory for transportation stocks. the dow jones transportation average has tanked more than 6% so far this week. firmly stuck in bear market territory and trading at its lowest level since november of 2013. commodity prices that seem to be remaining lower for longer and a dollar that remains strong against other major currencies continue to take a toll on the sector. analysts who track transportation companies say that's hitting those that service the manufacturing and mining industries particularly hard. >> when i talk to my companie

and we discuss how "new yorker" covered china tonight, but i want to mention how "new yorker" changed china. one of the many changes i think it's the wave of nonfiction writing in china. "new yorker" really inspired a lot of chinese writer to write nonfiction. i wonder for the panelists tonight, i don't know how much you read about chinese writer cover china in nonfiction style, and what do you think i'm missing in those pieces? and what make a good writer in nonfiction writing? it's not a question that you can answer in a minute or so, but i wonder how you would boil down in one or two points. >> you want to take a crack at that? >> i mean, i think it's true that there are a lot of magazines and periodicals that have sprung up that i think have been very much inspired by "new yorker." i can think of two that i know that sort of narrative form where you are given enough time to sort of make your case. i mean, when i first started for the magazine as josette mentioned, it was quite astounding. it was five consecutive issues. and you really had a chance to kind of feel that you -- it wa

new optimism. it does not seem as much as change in china. we have manufacturing weakening, services strengthening. .e have the official numbers drivers andthe old the new drivers, different pictures. let's bring up the manufacturing pmi, a survey of private sector .maller manufacturers in china let's start with the official. 49.7. better than that three-year low we saw in november. the fifth month in a row of contraction. since 2009.streak a lot of pessimism globally, china being the manufacturing of the world. we are seeing similar things in the old drivers of growth. much further below. 10th consecutive month in a row for the private sector manufacturers in pessimistic territory. it is not great. rishaad: something optimistic now. , the highestmi since august of 2014. governmentt the wants to encourage as part of the rebalancing effort. 54.4, a nice shot in the arm for the services sector. rishaad: going to check on some of the other stories making headlines. homeowners in sydney may have had their worst quarter in years. house prices down

we are looking at the big news out of china. the steelrop up sector. in equities, more than $20 billion are the biggest. we're joined live from hong kong. it is great to have you with us. does this tell us something broader, in terms of the response mechanisms for 2016? is a significant move and there is a liquidity shortage in the system right now with the chinese central bank responding on a scale. the holiday and them making technical changes to the reserve ratios. encourageimes could lending in the economy to get things going. prudentialthe macro side of things and this brings us back to a liquidity injection with a view that this is about putting money in a system and the rate cut that may not be there. shiftnals something of a to the approach. >> interesting. let's talk about what we are the indices with the authorities intervening today. what do we know about the deadline where the companies listed the ability to shelve -- sell the stakes in the company's. perhaps the limit will not go away in the date will move. >> this is how china intervenes

bad news from china could be good news. the country's economic growth last year w topping "america's money" -- bad news from china could be good news. >> the country's economic growth last year was the slowest in a quarter of a century, but investors aren't too discouraged. most asian markets ended up much higher today and overnight u.s. stock futures were also up. >> the tax filing season begins today. the irs will now accept 2015 returns. the agency says that it's taken steps to protect against identity theft, so, you may notice some changes this year. >> and you also get an extra three days. the deadline is april 18th. >>> and you may also want to start making your romantic valentine's day dinner reservations today at white castle. the burger chain says reservations ss are going fast. >> it's hard to believe. it's the 25th anniversary of valentine's day table service at the burger chain. by the way, they also do weddings. >> oh, let's start planning. money." hey, remember the game when i set the rookie passing record? i

newing in china under the circuit system with a drop on chinese stocks, heading for their worst-ever starts. our chief asian economies joins us now. happy new year. it looks like a fairly rough spot. >> right. there is a narrative in 2015 manufacturing and and relative strength in services. we look at the official numbers and the manufacturing continues to be week. we are expecting this story. the critical thing for the it is more job intensive and that will generate a lot of opportunities and it means the government does not have to do the two aggressive stimulus. 2016, we get rearview near -- mirror numbers. what you expect? >> heading into 2016, it is a story of stabilization. cuts accelerating the public spending and we are starting to see it through the end of 2015. we expect that in the early part is the expectation official numbers showing a progressive weakening in growth and it will come in around 7% or 6%. we think it will edge down. there is a gentle slow down in growth with official baidoa. is thatr expectation andth with independents private measures in the larger economy

china. trying to calm investors trying to issue new regulations. china will limit the shares traders can sell every quarter. what is behind the selloff? two reports this week that china's economy is slowing down and china guiding the value of the currency lower. europe markets are slower. you probably have zero expose tour the chinese stock market. the chinese economy you do. so do european companies. this worry about a slowing chinese economy is worrying in paris and frankfurt and dow futures. the dow plunged 252 points yesterday. that is 1.5%. this is the worst start to the trading year since 2008. nasdaq and s&p had a tough day yesterday. north korea's reported hydrogen bomb test setoff selling yesterday. as well as plunging oil prices. a barrel of crude oil is above $32 a barrel. i have to tell you. the oil crash has been fantastic for consumers of oil. when the commodity falls from the peak of 65%, that becomes destabilizing. >> you say it is the worst beginning of the year for the market since 2008. that was a bad year. that was a bad start. >

global markets making marginal gains despite more dismal news coming out of china.vernor in the state of the state address. >> i will not be at the academy awards and i won't be watching. >> and boycotting the oscars the big names that say they will sit out the awards in protes

for now, china is a country that dependency on chinese demand for exports will have to put up with slower chinese growth. al jazeera, beijing. >> despite the bad news from china, the latest output from the international monetary fund said global growth is expected to rise slightly this year, forecast to be 3.5%, a third of a% from last year. the deputy director general for research at the i.m.f. spoke to al jazeera. >> i think that there are two at spect to say what is going on, there are clearly a number of economies that are facing very difficult circumstances, think of brazil, russia, oil exporters, can think of the slow down in china and that's high on many people's minds. overall, we still see 2016, which is going to be slightly better than 2015. the economy's picking up a bit, a number of the emerging economies, as well. china representles purchasing power probably 16% of world g.d.p. it's a very large economy and clearly what is happening there has repercussions on the rest of the world. a slowdown in china which implies, you know, less chinese imports, less worry on financial markets is going to have ripples that are felt all across the wor

>> lauren: breaking news this morning, china stocks start another week with letdown. nearly 5% overnight. good morning, i'm lauren simonetti. >> cheryl: and good morning, i'm cheryl casone. u.s. stocks not being hit by the china selloff so far. looking to a positive open, the dow pointing higher by 74, s&p looking by 11 and a quarter, nasdaq is wow. >> lauren: finally, right? here you have the price of crude $32. seventy-two cents of barrel. >> cheryl: breaking news overnight rock star david bowie dies of cancer. we are going to have the story coming up. >> lauren: mexican authorities want to talk to sean penn. in the nfl wild card games, greenbay came from behind to defeat the redskins. minnesota and seattle the win with seconds remaining. those details coming up. welcome to fbn:am, first look at what's moving in today's markets and what to expect for your week ahead. >> cheryl: once again this morning go to asia, asian shares sankled to the lowest. tracy, a reporter for chinese state television. good morning, tracy. >> tracy: governing, ladies, 2016 continues to be

china issued new regulations limiting the number of shares traders can share every quarter. the report of china's economy is slowing down and the currency. the european markets are lower. they are concerned about what is happening in the chinese markets and economy. those are big moves. frankfu frankfurt, 3%. futures here in the u.s., a brutal open coming off a selloff yesterday. the dow plunged 1.5% yesterday. this is the worst start since 2008. the nasdaq and s&p 500 down more than 1% yesterday. north korea's bomb and all adding to the cauldron of fear. a barrel of crude oil is just about $32 a barrel. that is on the global growth concerns. >> for the second time in a week, the chinese market down more than 7%. today it happened in less than 30 minutes. the market opened and then closed because it was crashing. >> a lot of people telling you don't be concerned about the chinese markets. that can cause more uncertainty. it is difficult to manage markets. >> it is the chines economic engine driving world economic growth for years seems to be slowing down. that is causing fear

fortune, truth, and faith in the new china. >> china should grow economically and it is a wonderful idea that in one or two generations we have seen everybody go from bicycle, aspiration for a bicycle to a bmw. good for them. one child policy had helped i would be all for it. it did not. it did not have that much to do with this economic growth that china has for the last 30 years. >> sunday at 7:15 p.m. eastern, press or courtney young discusses her book in which she examines the impact of breast-feeding policies on society. >> breast-feeding fits conveniently into an american health paradigm that increasingly blames individuals themselves for poor health outcomes and for the soaring cost of american health care. "book tv. " debated lifting sanctions against iran as part of a multinational agreement. this hour-long debate against with ed royce. transparency act, and i think we should all reflect on the reason for this resolution -- one of the reasons -- and that is since the obama administration sealed the nuclear deal with iran, iran has been on a bit of a tear. has accelerated its mis

. >> now a look back at four debling kids of reporting on china as the new yorker magazine celebrates its 90th an verse vi. several of their correspondent who was covered china for two yen rations talk about their work in chi. in it's from the asia society of new york city and it's an hour and a half. >> good evening, everyone. tonight is a sellout, it's good to have you all here on this rainy, cold, but festive time in new york this evening "the new yorker" on china, a look back at four decades of reporting on china is indeed a very special night. and also a convergence of two anniversaries. the new yorker is celebrating its 90th this year. it was one of the first western media to have access to china after the revolution in 1949. and of our five disting westerned guest panelists tonight, one who is not a guest, orville schell, they have collectively over 100 years of observation and writing on china and i think you will all find this very enlight anyone tissue enlightening and no doubt entertaining this includes of course our other orville schell whose asia society center on u.s. ch

breaking news china set to inject stimulus into the market. jo lin kent is here with the latest. ected but markets are reacting to this. jo lin: breaking news right now the chinese central bank injecting the new stimulus giving the market a boost after chinese gdp growth came in at 6.8% in the fourth quarter, the following from the third quarter for the full year of 2015, finally here, expansion the slowest in 25 years, but asian markets really rallying as the central bank announced 600 billion yuan injection, all to meet medium term liquidity needs and you see the hang seng closed at 2% anticipating the shanghai composite and 3.2% higher investors in the u.s. like this news, you see futures climbing this morning throughout the morning, double digits in triple digits. sandra: we're looking at these markets. a lot on the earnings front, big political situation in the election year but we're looking at dow futures shaping up for a rally. a couple hours from now, "the opening bell" looking at a gain of 260 points, the s&p just over 1900 is up 30 one points ahead of the open, nasdaq f

from china could be good news. >> the country's economic growth last year was the slowest in a quarter of a century, but investors aren't too discouraged. most asian markets ended up much higher today and overnight u.s. stock futures were also up. >> the tax filing season begins today. the irs will now accept 2015 returns. the agency says that it's taken steps to protect against identity theft, so, you may notice some changes this year. >> and you also get an extra three days, the deadline is april 18th. >>> and you may also want to start making your romantic valentine's dinner reservations today at white the burger chain says reservations at its restaurants are going fast. >> that's hard to believe, it's the 25th anniversary of valentine's day table service at the burger chain. by the hey, remember the game when i set the rookie passing record? i mean, you only mentioned what, 50 times... how about when i had three events in one night? well, i've been working on my new superhero move all day! we're non stop, we've gotta have our extra protein. oi

with this new normal china has the confidence and the capability of restructuring to maintain medium and high growth. end commodity prices in the international market. in china's economy bigger in size with resources and environment constraints this echoes general economic development. prices for major economies of the world. and with great potential with policy adjustment with the confidence and capability to meet the two goals. so with those respects by 2020, the communist party of china will build in china into a prosperous strong cultural neediest socialist country when the people's republic of china with 70 million graduates on the basis of the human resources as the chinese people have defined a tradition and the savings rate of 38% of the years. last year in excess of 4 trillion. but the residential savings of 305 trillion are in deep. -- research and development in the past five years than is gdp grew from over $7 trillion to over $10 trillion with the solid material foundation increasing the revenue of china expected to grow more than 5%. to test 3.33 trillion to be the worl

we have maintained our 2016 and 2017 growth assessments for china, in light of the robust developments of its service and newconomy sectors as well as fiscal policy action. but the picture could change farther down the road. continued strong growth in china is dependant on its authority's prompt decisive action toed a dress remaining imbalances in the economy, and the legacies of past imbalances. >>> commodity prices connected to the chinese slowdown are affecting countries around the world. zambia relies heavily on copper, but many countries are struggling. >> reporter: this wasn't the dream home that these children's parents pictured a few years ago. this woman and her husband thought life couldn't get any better when the bank agreed to lend them enough money to buy this land, but then she lost her job. she was one of 5,000 people laid off by the mining company. >> we were thinking when we get these loans we'll try to do one or two issues to like settle ourselves and live a comfortable life, but to our surprise it all came like a bang. >> reporter: not only does she not have enough money to complete the ho

it is not only new to china but the developer as well.are primarily a residential home builder but are diversifying. it's following the trail map of larger developers going into tourism. wanda built this more mass-market resort but there is very little to operate skiing and very odd rules like closing down the mountain before closing down the gondola and chairlifts. >> we were stranded up top. >> there is a huge opportunity. the need to adopt a more services taste and sustainable model. thehey are looking to offer next level of experience to the developing market in the interest that is growing. >> over 300 million people are expected to get into winter sports in some fashion. >> they're doing it in a fraction of the time that it normally should. there are growing pains. >> just like there are with the rebalancing of the chinese economy which could go from high flying to hard landing in a flash. the economic chill would have just about everyone flipping out. >> let's click -- take a closer look at tourism in china at home and abroad. fact

china. where is the chinese economy headed? inh a new plan presented 2015, how can the world second largest economy shift gears without stalling? what does all the market volatility tell us about the perception of china and the task facing regulators? we have an all-star panel. thank you for coming on. zhang xin is chairman of the board industrial and commercial bank of china. christine lagarde, managing director at the imf. fang xinghai, vice chairman china securities regulatory commission. gary cohn, president at goldman sachs. ray dalio, chairman and chief investment officer at bridgewater's associates. thank you for joining us. chinese markets have begun the year with a lot of volatility. what do you believe is the underlying cause? >> i do not believe that -- [inaudible] rate last year was 6.9%. all the economic indicators -- china is still the locomotive contributingnomy, a quarter of the world growth since last year. , in terms of the market, there are certain volatility. of course, there are complicated reasons, one of which is t

the new trading path from china to europe has been paved. stimulating the economy of inland regions had been an issue for china for many years, leading to the creation of the one belt, one road policy. the effects are already evident in yiwu. the first station on the yixunou railway, which is ushering the next chapter in china's economic development. host: hello and welcome to "global 3000." so here we are again in this pre-holiday season that for some reason always turns out to be hectic and stressful. in this edition of our program, we'll take the opportunity to slow things down a bit and introduce you to people who turn to the calming powers of nature. we'll also hear from someone whose reflections about political crises are really good food for thought. so here are the stories we have coming up for you. on a quest for the meaning of life, a trip to the arctic ice of greenland. what our millennium teen enjoys about his life on the islands of the seychelles.

in china, it's begun with an app. mobile apps are a relatively new area so there's room to grow, he says. wong says history is attracting heavy investment and hiring fast. services now account for a larger part of china's growth. 48.28% compared to 42.6% in 2014 from traditional drivers like manufacturing and construction. but about the question is whether these new types of businesses canning develop fast enough to drives the economy forward as old industries fadeaway. he isn't concerned. this business is going very well, he says. i think delivery services have a bright future. he is right -- so could china. for "nightlbusiness report," i'm eunice yoon in beijing. >>> well, cume consumers here at home have a number of things working in their favor. gas prices are oil, job market is strong and home values are rising. steve liesman has more on the silver lining in main street's economy. >> the international monetary fund marked down the global economy tuesday mostly a result of lower oil prices. what it didn't do was mark up the advanced economies or