party, even his seeds were invited to moscow by the politburo. rarely went to moscow, sat there in leningrad and ensured the loyalty of the leningrad communists, that is, he was a person. by the way, prigozhin was also from the same city, well, i have a manager because he was not from leningrad, but politically he was with leningrad in principle , there was no sense in him, there were no competitors, he was not for anyone, he was just in serves steel in the province and had the position of a member before the road for one simple reason . because the predecessor in the position of this leader , they of the players' party of the organization hryhoriy zinovov, an associate of levin, was a member of the flights of weapons were well, just another politician of another if on the field the bureau will not even go into all these details of party history, because i am tired of party history already during the years of soviet power, it was still possible to forget everything about it. but after the 34th year, all lenin's associates were simply sent so to s

and the politburo sinks through moment, and says yes. this is on radio, and on television, within minutes, literally just a few minutes, east germans began streaming to the fore checkpoints of the berlin wall. east german guards have no idea what's going, and they have not received these orders. and, there is a tense moment, as the crowd grows and begins shouting. car horns are honking, and the guards realize they have two choices. use force, or open the gate. and they open the gate, and the berlin wall ceases to function. all right, again, reagan speaks on june 12th, 1987, and the wall falls, ceases to function, effectively falls, on november 9th, 1989. were those two events connected in any way? >> absolutely peter. yeah, i mean i think we can trace almost even a direct cause and effect. and i don't want to take this too far. obviously, the people of germany deserve a tremendous credit for their own -- in running up and tearing down the wall. there is a course some fascinating historical accidents of miscommunication, and communist bur

whoever, in fact, he was a person who was even on polybiotics, the party, even the seeds of the politburoed to moscow. he very rarely went to moscow. he was really there in leningrad and ensured loyalty of the legras communists , that is, he was a person. by the way, from the same city that i will use, well, i have a leader because he was not from leningrad, but politically he was with leningrad, in principle there is no sense in him there were no competitors, he was not for anyone, he was simply in the service of steel in the province and had the position of a member of the road for one simple reason. because the predecessor in the position of this head of the leningrad party organization, hryhoriy zinov, an associate of levin, was a member of the flights of weapons were, well, he was what polider another politician will not even go into all these details of party history because i am tired of party history already during the years of soviet power, it was still possible to forget everything about it. but after the 34th year all of lenin's associates were simply sent er, er, so to speak,

all those gains we sell post politburo have evaporated. david:'s they are on the csi 300 which should be at 3800. what is the price target of morgan stanley? yvonne: $.75. david: 75 more than i have in my pockets but that is nothing. country garden services last i checked was down substantially. we'll talk about some of the other things in just a moment. and a terms of where we are at technical levels, let's get a chart up at msci asia pacific. we have taken out your 100 day moving average. we will see whether or not the index manages to hold right above that. we will see where we close today momentum is not your friend. purple circle on your right side of your screen. that is a sizable cut. macro movers for you. only two colors anyway. the only bright spot is a bit across your chinese 10 year yield. yvonne: it is so green you cannot see it and our eyes are getting bad. david: we are getting old too. yvonne: a rare move given how green the box is right now. which goes to show where we are comes to the risk tolerance. there is a lack of ris

the idea to eradicate drunkenness in the ussr and introduce a sober lifestyle were members of the politburoor ligachev and mikhail solomentsev during the years 1985-1988 in the country was halved the production of all alcoholic beverages, even beer, but the price of alcoholic beverages was sharply increased, the number of outlets selling alcohol, as well as the time of their work, was radically reduced, but the norm was two bottles. in one hand, for a large purchase for a wedding or funeral, special permission was required, the people answered the siege of liquor stores by a wave of evil anecdotes and mass moonshining, because of which sugar disappeared from the trade, a currency anti-alcohol company. generated many absurd scenes in everyday life also faded in 3 years. at the same time, she reduced the budget revenue from retail trade in the third place. rybachev's assistant, georgy shakhnazarov, estimated the damage at 100 billion rubles. on january 1, 1987, state acceptance of products by quality was introduced in industry; state controllers began to work at enterprises , who had the auth

the politburo's demolition was authorized by the order of planned reconstruction by the local authorities. however, do not rush. everyone was waiting for an opportune moment 2 years after the verdict of the politb, yeltsin, who headed the region, decisively demolished the memorial mansion. and let the whole adjacent to the quarter building area. it was the decision of the highest authority, i received a written interpretation of this episode. i had a chance to ask yeltsin, then not yet the president, a direct question. he answered that there was pressure, and it was impossible to refuse a serious one, and it would be pointless for someone else to give details. we won't know anymore. well , it's good that at the site of the execution house. hypatia ivan is not worth a temple on the blood. andropov noticed and remembered the decisiveness of the ural leader so well that yeltsin became. almost the last the personnel care of the sick general secretary, he was clearly preparing to call the energetic uralian to moscow at the end of december 1983. andropov from the kremlin hospital called yegor r

that everything is moving to the point where russia may begin to be ruled by such a the collective politburoas like during brezhnev's time, i will remind you when for 2 years they could not decide on a successor who would actually represent the soviet union. brezhnev at that time had already suffered two strokes. he was incapacitated, he could not normally pronounce half of the alphabet, if there is, they were joking, nevertheless, he remained in power for almost two years, i repeat that he is in power. i think that we are just moving. well, not us, but russia is just moving to this stage. when will they show us putin or putin's double or some person similar to putin? and at this time, very large tectonic influences will take place behind the scenes and the ukrainian war is what russia is doing inside ukraine. i think that will be one of the factors because, hmm, there will be a watershed between how to get out of this situation now and who will win in this in the immediate environment or in the so-called image of this collective putin, will the hawks win who will demand an even greater sett

the politburo meeting a month ago, people thought that would be when the big bang would come out and very specific market reform, and that did not happen and people went ok, it's coming, it's coming. and sooner or later, you see it really will display right now, the market is growing impatient. this thing enough is enough, will this happen or not? and another thing to point out, northbound buying, which is buying chinese stocks, the northbound -- i guess selling is now a ninth consecutive day, this is a record. we are talking foreigners selling just out of abundance, just dumping this stuff because they don't believe they have lost confidence. david: that is interesting, net sellers for a nice day lower on the stock, it's interesting for a day where just a day before we were talking about this on a bloomberg report on china selling some of its funds to avoid being the net sellers for the day. don't be in the negative. thank you so much, we will keep an i out on these metrics, some of these flows coming across the stock. interestingly enough, haslinda, we were having these conversatio

the conservative challenge thrown to him and the possible consequences at his insistence of the politburoays on march 23 and 24 discussed the letter of nina andreeva gorbachev was sharp and prepared to fight conspiracies, marshal dmitry was present at the discussion languages. future member of the infamous gkchp. subsequently, he recalled that among those gathered, many with him were opposed to the continuation of perestroika, but no one dared to openly object until the result of the discussion was, prepared by alexander yakovlev, an article on principles, perestroika, revolutionary thinking and actions, published in pravda on april 5 , 1988. andreeva's letter was decisive. rejected as a manifesto of anti-perestroika forces, the party and the people were called upon to overcome the mechanism of bureaucratic inhibition to make perestroika. the revolutionary and irreversible article, as a public policy response of the conservatives in the party, was reprinted in the same soviet russia and in all the most important press organs of the country. gorbachev and his supporters overcame the first

sverdlovsk regional committee of the cpsu and in 1976 at the age of 45, on the recommendation of the politburoe central committee of the cpsu, he became the first secretary, that is, he became the sovereign owner of the largest the industrial region of the urals with ten times more powers than any current governor. decades later, mastitis and party functionaries will argue that even then in the forty-year-old yeltsin. they saw july something vicious and hostile. but this, of course, is a typical belated, self-justifying assertiveness of the early yeltsin, the communist party appreciated encouraged and willingly used

yvonne: we have seen a little bit of a rally since this politburo meeting. there's a lot of questions like bank of america saying, is this a bounce, a rally, or a turnaround? do the inflation numbers change that view in any way? >> i think after the politburo meeting, investors are starting to lose their patience. it takes a lot of time for all the stimulus policies to play through. i think what we are seeing this morning is slightly better than expected cpi. core cpi in july rose to the highest since january. so that is a little bright spot. on the policy side, people tend to be more forward-looking. some state mediate was saying of the tier one cities in china, they are having a basket of policies and they are ready to launch any time when beijing says ok. so there is some policy expectations. having said that, i think patience of investors have turned very limited and all the trade seems to be shorter and shorter. rishaad: rebecca, we have these restrictions over investment in china and china tech in particular. this is a story which has been developing.

that rally we saw post politburo evaporated, how are you looking at china now?of course, the highlight of the day is the cut in the loan prime rate by a lesser than expected extent. if you look at china and the latest policy decision, there are a few to consider. perhaps it is the case that the chinese authorities are not as concerned with regards to the debt situation, or the contagion risks with regard to the recent defaults of property developers. authorities are not as concerned as the markets. the second point is that the july decision, there have been some policy measures, and these have yet to take effect on the real economy with regards to lending rates. banks have been reluctant to lend or lower rates, at the same time, the demand for property and mortgages has been subdued as well. to cut the five-year rate at this point may not be as timely as desired. the other thing is that the u.s., china interest rate differential has widened significantly. that could mean further cutting of rates could have more significant adverse effects. the third point is tha

chinese stocks, the politburo meeting, there are supportive measures coming out, but people have not stimulus measures so far. morgan stanley downgraded chinese stocks to equal weight last week, and they are recommending people to use this rebound as a tactical trade to take profit, so we are seeing this preference of japan overturned a continuing, even though after the doj and politburo meeting. haidi: you mentioned the key meeting which flagged a change in tone and increasing expectations we see another rrr cut for big banks months. what is the risk reward looking like? what is the risk premium for chinese stocks? >> it seems like for the time being investors are pricing in the worst-case case scenario for chinese stocks. of course, there is always an upside risk to if there is stronger stimulus coming through from the chinese government. if the pboc cuts, there could be another rebound in chinese stocks, but so far the long-term structural story has not changed for china. we are still seeing this economic slowdown, property prices has not been solved, people's confidence has not c

it was not even two weeks ago the politburo gave a progrowth message saying they needed to get the economyack, things are losing steam. you are seeing today and last night, literally every day this week some level of follow-through, some agency meeting to say we will bolster confidence or make these measures work. in terms of how the pboc, this meeting with developers was encouraging but not unprecedented. ultimately what markets are looking for may be something that feels more substantial that will move the needle. we have not gotten anything big in terms of mortgage restrictions being relaxed in large cities, something that might feel like a substantial message. this is part of china's strategy. they have signaled in so many cases over the past several weeks and months that they want stimulus this year to be targeted and limited. they cannot rollout anything massive. you are seeing that translate through these meetings last night and today. lizzy: thank you, waiting patiently for the china bazooka. donald trump has pleaded not guilty to charges of conspiring to obstruct the 2020 presiden

of course, after the famous galina brezhneva , the grandson of that very all-powerful member, the politburoin-arms. lenin ’s house was stalin himself, who then, together with khrushchev, fought against the cult of personality, and then , together with brezhnev , khrushchev removed them from their posts like these people. came here are the cameras, we have the power for our imam native grandfather. stas namin's father was also not the last person of the lieutenant general of aviation , deputy of the supreme soviet of the ussr with such a background. for a moment, stas was always able to do everything and even more for a boy from a good , very influential family. former speculators. aizenshpis was always just a shmelevich. or the dunce of their roads. crossed paths, in the summer of 89, when the king mazhorov namin organized the first rock festival in the soviet union and artful helpers. he needed. how the air came and asked me to take a job because he had to dress nowhere. well, i hired him to be an administrator in the team of mikoyan namin, there were about 30 such administrators, but only

see, you know, i know every time i appear on this program, i go back to the politburo meeting from ae of weeks ago. those ideas on really boosting consumption and demand and driving pro growth. we've seen a little bit of that from china. but of course, it's all been very targeted. we'll have to see if additional measures are rolled out in the coming weeks. joe, always a pleasure to get your thoughts. that's bloomberg's jill diocese now along with china. the other thing, souring markets sentiment this morning is that moody's decision in early this morning if you were in europe or overnight in the us, moody's lowered credit ratings for ten small and mid-sized us banks and says it may downgrade major lenders. now it's part of a sweeping look at mounting pressures on the industry. for more on this valerie title is back. valerie, i know moody's didn't do this because they were sick of a equity market rally. what was their reasoning? well, okay, they changed their assessment for 27 us banks. they are all a bit different, but there was a few key themes that that shrunk you strung through mo

thought this was really something that was going to forever and that the central committee, the politburo, the standing, they would be adequate at checking the overconcentration of power in the hands of the leader because of course that was done. champagne's objective to prevent the emergence of another mao zedong who in dozens. carried out overconcentration of power in a way that led to arbitrary decision making and like the great leap forward and the cultural revolution. but in fact those collective institutions of the party pretty much just rolled over. when xi jinping came into power the first of all, he made the case for the need for more constant trade and leadership, because collective leadership under his hu jintao had become so corrupt and it was really the distaste for a corrupt head that gave him the mandate among. the party elite and the public too. and so he carried out this massive anti-corruption campaign which was also a purge of his potential rivals. also the fact that darvish peng really had and de mao managed enough so to rely on the collective institutions of the party

the politburo called for a comprehensive plan to address local government debt as of their late julyment on the economy. but i don't think the fact that some of these instruments have defaulted, necessarily indicates that there is a decision that has been reached about what to do about this or to allow some cities to default or some types of bonds to default. those are very difficult decisions. chair cleveland: thank you. questions for the other witnesses? >> i will go next and then go in the other order. first, thank you to all of you for appearing before us today in preparing such great testimony. i am struggling here a little bit. i think all of you are mirroring each other in what you have said about the economic slowdown, its trajectory over the next couple of decades, over the next five years. i am not sure what the cristobal says. but i think policymakers in washington, rightly so, dr. lu, as you pointed out in your testimony, they need to ingrain this in their thinking about what is happening in the chinese economy. are we getting out front as aggressively as we should about

sound bite, positive drip feed of stimulus measures playing out since we got that news from the politburouity bulls might still have to be more patient and historically august has been a rough month for the greater china indices. turning to currencies, as you mentioned the dollar is bouncing in and out of gains and losses. particularly the aussie dollar and kiwi dollar are in the red. they are sinking, aussie dollar still declining after the reserve bank of australia decision yesterday and the kiwi dollar also lowered. today there was unemployment data out showing that unemployment was at a two-year high. a quick mention of jgb yields because we saw the boj come into the market on monday and that was around the .60 percent yield at the 10 year and now we are around those levels so there may be a little dilemma they are weighing right now in japan. >> you mentioned the aussie dollar slide, you have to wonder whether the real could see something similar if it is more dovish than expected. thank you for that update on asian markets. i want to continue the conversation about the u.s. downgrad

shcherbitsky convinced the members of the politburo that this case could be a black stain on the reputationrainian ussr as a result, the 72-year-old vasyur was shot without eyes in the fall of 1987. over 2 million people died in belarus during the years of the war, the youth of the invaders and their accomplices in belarus , a quarter of the pre-war population of the republic , this nightmare will only end in the summer of 1944, when the soviet command had accumulated enough strength to drive the nazis out of belarus forever, by that time the situation on the eastern front had changed radically. after the defeat at kursk, the german divisions constantly retreated, they were driven out from under leningrad, the crimea and most of the soviet ukraine, the front line remained almost unchanged only in belarus. here, the german fortified areas protruded far ahead, forming the so -called belarusian balcony in the winter of 1944 . soviet troops tried unsuccessfully attack the german fortifications head-on. this was due to a fairly strong defense, and the german in belarus and support. this defense

the key thing as after the politburo meetings when top policymakers gathered in beijing and said the economic tone and agenda, the expectation was something big or bigger would follow. whenever anyone cost me about this, i asked them what is that something big? what is the big bazooka that could possibly be announced? so far as an is policy window that we normally get after the meeting, we have had mainly tax cuts, marginal, stamp duty cuts and things that essentially should make it easier or reduce the supply of stocks in the stock market and make it a little bit less attractive to pull your money out. they are not solving the liquidity issues. where is the money going to go into the stock market? at the broad picture is that china is still in a structural downturn and these measures don't fix this. these are short-term and like putting a band-aid here on the stock market. you are not fixing the long-term growth story and not doing stimulus on the fiscal side. avril was talking about increased government spending and that has not come through yet. this takes time. lizzy: you wonder

it was some kind of mess there, a politburo mess, and he turned around, and the general who was standingre waiting together for this person. well , valentinovich apologized. i say, well, i have accumulated energy. well, write what will happen to russia and began to write what he says in the ninety-first year in the fall, some kind of baltic tv tower from there will collapse russia, he says, what kind of collapse of russia i say, look, well, i wrote until the twentieth year. this person is alive. eh, as long as it goes. everything is as you wrote. that is the twentieth year. we can live in peace until the twentieth, we can live in peace, everything will be fine. here, which shows that this parameter well is much more pronounced and in fact it indicates that it has information communication capabilities. they seem to be higher. what about other people? well, now a short commercial right after that we will continue to stay tuned. summer is the time for big things and important decisions. work while others rest. and be one step ahead of a real volunteer training center every day twice a day,

russian delegation, defense minister, and high level chinese delegation, including a member of the politburoou see them sharing what looks like a growing bloc, your interest is in making sure you have a friend like the united states to back you up as well. i think that's one of the motivating forces behind this meeting today. >> we're told just a couple of seconds we expect to see some movement out of camp david. i'm wondering about when north korea meets with other delegations, russia or china, anybody else, it is just the dictator of north korea with the other people assembled. is the strength of that regime, you know, is that regime rock solid? >> here's the thing, so we have taken both carrots and sticks to deal with north korea. punitive action, basically and supportive action toward the north korean regime has not changed its trajectory. it has been able to enhance is own military capabilities, including becoming a nuclear power. and this has led to a rethink about how we need to deal with north korea. the endurance of the north korean regime is remarkable. i don't think sanctions or s

in the golden dragon index because we've now erased all of the gains that were in place since the politburo meeting that took place on july 24th. and it was a moment in which we got some pro growth policies coming through. so initially something that did lead to that bounce that we saw for chinese stocks, it's now being given up. what exactly are officials doing about it? we did have a bloomberg scoop out saying that beijing may cut stamp duty on stock trades. that would be for the first time since 2008, something, paul, that could really help lift market sentiment, but certainly a major concern for for officials in china. yeah, for more on china, let's bring in bloomberg's senior geoeconomics analyst, gerard de pipo. so gerard anabel running us through there. some of the rather disappointing numbers we saw out of china yesterday and some of the policy responses as well. but right on cue, here come the downgrades. what are some of those big investment banks saying? well, some of the banks, including jp morgan, barclays and others, are now forecasting that china's gdp growth might fall below

like if you look at how many members of the politburo has lived abroad or studied abroad, i think the number is about one. yeah. my hope is, is that 15 years from now, you may have as many as 12 or 15 who lived or studied abroad. so i think you also see the elites in china, they they have money overseas. they send their kids overseas to study. that's that's a revealing preference that says something about how they're thinking about themselves and how they think about us. so we should want, to the extent that not stealing our stuff, bullying others, pushing some, propagate and we ought to have i'm open to us having a lot of them, the whole idea of saying we're going to cut them off completely, i think is an error. yeah, we've talked a lot about market democracies here. i mean, and i know from our long association that your preferences on democracy. but let me talk about the markets for a psych. i mean, one thing that's come through in your book is the the importance of the private sector. and we don't always think about that from a development perspective. how how have in you've done a

on the equity side, you know, we're giving back pretty much all of the gains that we saw from the politburomeeting last month that inspired a little bit more confidence and close to a bear market in some of the hang seng indexes as well. so so lots of lots of kind of grim looking levels that we're that we're approaching. and it seems like the authorities are doing what they can to try to hold back on that. so today, not only did we see the yuan fixing being particularly strong relative to expectations, trying to prevent it from weakening too rapidly, but also authorities injected a whole load of cash into short term money markets. china may be eased. things a little bit with those shadow banking snarl ups that we're seeing. so digging deeper into that tool bag, looking for some extra tools to try to help the markets at this at this time while we're in those precarious situations. but sentiment sentiment is still very negative. if you look across the options space in the currency markets, if you look at the one year forward rates, the market's counting on the yuan continuing to weaken. so, y

one gentleman compared it to the soviet politburo saying they implement any scheme they wish and appearble to nobody. winchester cathedral so far hasn't commented, but i think it's fair to say that winchester city council will find plenty of allies among the bishops . not allies among the bishops. not too long ago, synod discuss the potential of human composting as disgusting as that sounds , as disgusting as that sounds, as a low carbon alternative to burial and cremation extinction rebellion. who we've seen parading through bristol cathedral seem to be more welcome than traditionally minded christian towns like coutts bank, who recently de—banking nigel farage the church of england are signed up to the un's principles for responsible investment and the church, like the and the church commissioners like coots who handle the churches investment portfolio are , to quote their portfolio are, to quote their website, committed to incorporating environmental, social and governance issues into our approach to investment thatis into our approach to investment that is esg. now now, we'll come b

we had the politburo meeting when they spelled out their strategy. as for what can stand that slide it is clear -- not really clear. there are investment funds to avoid being that sellers of equities, but there are so many negative headlines facing the chinese economy this morning. >> and protests, something we almost never see, reported in beijing, against one of the biggest shadow banks after it skipped payments on several investment products. this is really underscoring how troubles in the property sectors of china's weakening economy are spreading deeper into the financial industry. our chief north asia correspondent is in hong kong. what do we know about the protests? >> it is rare, obviously, particularly in beijing, the nation's capital, obviously, where they prefer stability and it is very right to see these kinds of protests. what we hear is at least a dozen, maybe jilted investors, gathering outside of this shadow banking the shadow banking industry provides they could go part as well as loans, and also private households. but they also --

one gentleman compared it to the soviet politburo saying they implement any scheme they wish and appearble to nobody. winchester cathedral so far hasn't commented, but i think it's fair to say that winchester city council will find plenty of allies among the bishops . not allies among the bishops. not too long ago, synod discuss the potential of human composting as disgusting as that sounds , as disgusting as that sounds, as a low carbon alternative to burial and cremation extinction rebellion. who we've seen parading through bristol cathedral seem to be more welcome than traditionally minded christian towns like coutts bank, who recently de—banking nigel farage the church of england are signed up to the un's principles for responsible investment and the church, like the and the church commissioners like coots who handle the churches investment portfolio are , to quote their portfolio are, to quote their website, committed to incorporating environmental, social and governance issues into our approach to investment thatis into our approach to investment that is esg. now now, we'll come b

mainland and the fact we are getting this gauge underperforming come and take your pick, from the politburo meeting about a month ago. this quarter, if you measure it, three months, one year, year to date, i guess in some ways, this is one leading indicator to watch that has not botched. we are not saying it is not impossible whether or not it wakes up tomorrow come about with information the market has at the moment, we will run with it yet. rishaad: the hang seng small-cap index also down 18% year-to-date. that tells you a lot. when you talk about liquidity, there are so many stocks. you can be so reductive about it. but let's see what we have got coming up. we will be speaking to a former u.s. diplomat about gina raimondo's visit and what it can achieve as she visits beijing. this is bloomberg. ♪ rishaad: you are back with bloomberg markets. this is what it looks like with some decent gains out of tech and the hang seng being supported there. looking perhaps for more muted gains as we just saw the stocks to the open on monday with authorities taking those steps to halve that stamp duty a

beginning of a series of more supportive economic policies to implement what's outlined at the july politburohartered. let's get more of our trading day ahead. david ingles joins us now. let's start with the yuan. just seems to keep on getting weaker. what are your expectations today? david: you are right. it certainly broken out of the range. we can blame the dollar and we can blame the other side of this deteriorating outlook on the economy on the market on the property market. the exchange rate is nearing a level at which it's almost an implicit agreement within the market that 7.3, we would be bobbing around that level in a tight range, but we are very close to that now and forward point, record low. you did get a very strong fixed yesterday relative to estimates, so i would expect nothing less then a stronger fix them to send a signal to the market, if that is the policy intention today. we are within .5% or .6% of 7.3 on the onshore rate, that's what i'm watching closely. you also have a couple of big expiry's right now on strikes among 7.3. a lot of things to watch in the currency spac

the politburo in late july did pledge, they signaled a pledge to have more stimulus in the chinese economy, but so far that has not necessarily materialize with full vigor. i was just reading a report from the research group that set the risk of inaction or insufficient action has risen. the pboc has a toolbox they can dip into. i mentioned the daily fixing rate. there has been a stronger bias towards a stronger yuan. and then the yuan can trade within 2% either way of that 2% fixing. the biases been to the strong side. we have a chart showing that kind of strengthening bias. but again, there has to be some other toolkits that they can dip into, including basically cutting the reserve ratio requirement for effects at banks. they could, because they are worried about capital flying off. they could tighten the capital controls. there's a number of tools, but just how far they want to go. right now there seems to be a magical number that sources telling bloomberg news that the leadership is concerned about. that would be a weakening toward 7.35 to the u.s. dollar up onshore cny. yesterday it

real-time data i am watching in china to some of the stimulus measures that have trickled out the july politburo>> what the government needs to do is settle some sort of stimulus, but they need to reiterate private-sector confidence, and that will take a lot more than stimulus. >> i am encouraged by what i am seeing, but i am not entirely convinced we are out of the woods. david: just a nice selection of some of the answers to our mliv pulse survey we asked late last week. when you look at these results, some of those questions we posted where before that flurry of announcements over the weekend late on friday. so maybe you could incrementally put this a little higher. how big will the stimulus be? 60% being fairly moderate. the best way to play, the bearish view on china. that is also up for voting as well, up on the bank of america fund managers survey where china always seems to feature as a chronic trade. direct bearish bets. rishaad: not really of you. -- a view. david: you could split it equally. and will the bank slow down force the -- and will try to's let him force the central banks to

real-time data launching in china to some of the stimulus measures that have trickle down since the july politburo meeting. an example, air pollution, epa air tests are done every hour. they plunged in the second quarter, suggesting manufacturing and transportation activity is falling. it started to rise here again in august. they have started showing some signs of rebounding. and box office results, we are seeing more consumer activity, showing maybe some response among households to what has been taking place to try to support them. so i am encouraged by what i'm seeing but i'm not entirely convinced we are out of the woods. i will continue to watch the data closely. paul: how about in terms of stimulus, what do you expect, according to magnitude? targeted stimulus or an ongoing piecemeal approach, what is your expectation? jeffrey: a little bit of each. the piecemeal approach is not working in the market but is working at the margins. the new infrastructure spending is green tech come parts of the economy in china are moving. electric vehicles, solar, wind powered batteries. those are growing a

arose, complaints were sent to the supreme court of the union's prosecutor's office, and even in the politburoverturned the verdict and ordered a new execution. before voronin's death continued to blame his wife. it's all because of her and the bastard. in some ways he was right, because she married evil, lived without love, and life without love. it's a completely different story. year volgograd region really a snag in despair, a man pulled hard realizing that the fishing line was about to break . the catch turned out to be a terrible naked, severely mutilated human body. the pensioner rushed for help. soon a task force was on the scene. what happened on the banks of the river an accident a man fell from a boat? location of the incident kapitan yury stepanov, one of the best employees of the police district, carefully studied the divers inspected the river bed, aksai , and soon an explanation was found. someone tied an iron disc to the unfortunate legs so that the corpse would remain at the bottom of the river forever, but did not take into account that the rope could break or fray. then no o

the politburo announcement at the end of july which is brought forward, though there were no policiesion that things are weaker than expected and we need to do something about it. yvonne: are you seeing other opportunities elsewhere? the likes of india and japan benefited from the underperformance in china. . what are the markets you like no? dave: obviously you run a balanced portfolio. we are quite positive in indonesia. traditional emerging markets with demographics that are available. a lot of the banks are well managed. we have seen infrastructures and then come through from the sub administration and there are also beneficiaries from the energy transition. we like some of the stocks in indonesia as well. yvonne: dave, great to have you in the region dave perrett of m&g investment. people stick around, we will talk more about ai as well. you don't want to miss our exclusive interview with the founder and ceo of one of india's leading clean energy companies, our conversation with renew's sumant sinha, later this hour. ♪ health customers surd reported taking healthier actions. beca

spattering of policy announcements that are inevitably going to come out over subsequent weeks after politburong. there has been a lot of short covering investment activity. if you looked at friday before the meeting, it was 30% short interest activity in hong kong like an all-time high. people have very low expectations now of the fundamentals, about policy conviction and any kind of meaningful deviation is going to get rice's moving. -- prices moving. rishaad: people are expecting a big bazooka but they are getting piecemeal advice and strategy and bits of stimulus, if you will. the managing of this is a subtle way and perhaps it is too subtle for some investors, wouldn't you agree? helen: well, if you look at china's toolkits, it is much more diversified versus the u.s. and many other dm countries. you tend to have more piecemeal action from different areas of the economy. a bit in terms of infrastructure stimulus, maybe fiscal support, a bit in terms of property and restoring confidence from consumers and buyers there. some push on the consumption front overall, some push in terms of capit

the money that went into this market during the brief rally post politburo was simply the fast money.hat they heard so far from authorities or what we have seen so far from the data, guys. vonnie: obviously, there's the loan prime rates. are there any other specific companies or potential news to track today? david: the developers, as we tracked them anyway for obvious reasons, given the weakness in the sector, country garden really or so because it got removed from the index, the hang seng index. that is one stock to watch. i mentioned a developer coming out with a profit at 16 to 15 billion renminbi was the loss that they flanked. x, came out with earn -- xcomm came out with an earnings miss so we are watching that closely. 4.3% was the drop on friday. vonnie: you have had three down weeks for china tech but we do get some major tech earnings this week. can you give us a quick update on them and the earnings season in general? anything standing out to you? david: on tech itself, that so far has been really one of the bright spots. we have several more names coming out. we are pointi

and if we weren't late, we wouldn't be late. next week, the meeting of the politburo to prepare a certificatehe failures in the economy will criticize. it would be necessary to prepare the west yes, yes, and about brezhnev personally about him about this family about the son of an alcoholic we will pull out all the rubbish into the light, but carefully. a friend would not mess up, eh? here here what idea? there is a journalist named louis. i need to talk urgently. it was him who was kidnapped. yes, dear, we already know everything. man he wants to meet with you, just calmly. good afternoon your husband is safe but if you want to see him alive and well. you have to do something for us. your name is not important. all that is required of you. on behalf of your husband to transfer this material. and remember. we have very little time for a film that can be watched endlessly information about the wife about the children of relatives. this is not nonsense. it's quite even not nonsense. buddy 17 moments of spring, i want to be with you. for me to die, go draw a couple of formulas, go. from monday o

at least it's gone somewhere, but it's come back almost full circle to pre politburo meeting levels hangg index 1.2% to the downside right now. so we've we're at the bottom of the recent range. there's nothing to suggest at this point. we are breaking below that and hitting new lows. we've had a very busy morning here on on china, as always, a very strong fix. you had weaker than expected home prices coming in overall 70 cities, and yet a really big injection out of the pboc in terms of the 77 day reverse repos, all things equal, stocks not doing really are not responding as much. but this is really has a a regional region wide story here of this aversion to risk at least today. yeah. dampening sentiment even in japan which has been a darling and you talk about you know chinese markets not really going anywhere. well japan we know, has gone pretty gangbusters, but not today, down about 1%, coming back from that lunch break in the negative territory. of course, we're keeping an eye, by the way, on some of those japanese companies. they've just posted blockbuster earnings in a sign that th