Biz Today brings you insight into the day's financial markets and in-depth discussion on what's driving the Chinese and global economies.
OpenAI reveals new Artificial Intelligence tool “Sora”
China’s central bank has cut its benchmark five-year mortgage rate by 25 basis points. What does it mean for the property sector? And what does it mean for the economy this year (00:38)?Open AI has revealed a new Artificial Intelligence tool called “Sora.” What does the latest leap in AI mean for different industries? How should people prepare for it (17:57)?
2/23/2024 • 27 minutes
What are the main drivers for China's digital finance and digital economy?
Chinese consumers have flexed their spending power during this year’s Spring Festival holiday (00:40).
China's digital finance has gone global, enabling tourists to travel abroad with "one wallet.”So, what are the main drivers for China's digital finance and digital economy? What does this growth say about China’s economic policy (15:20)?
2/15/2024 • 27 minutes
What are the new trends in China’s Spring Festival consumption?
Across China, vibrant Spring Festival celebrations are underway as the nation reaches the pinnacle of its most important holiday season. The Chinese Lunar New Year is about homecomings. This year, Chunyun, or the Spring Festival travel rush, is expected to set a new record of nine billion passenger trips during the 40-day travel peak. Meanwhile, China's leading online shopping platforms also capitalize on the traditional high-spending season. So, what are some of the new trends in China’s Spring Festival tourism and consumption? What does all this say about the country's economy (00:38) ?
We also take a look at global AI governance (19:40).
2/9/2024 • 27 minutes
Can global economy avoid “hard landing” in 2024?
The International Monetary Fund has revised its outlook for the global economy this year. It now predicts global growth will hit 3.1 % in 2024. What’s the current situation of the global economy? What are some of the main challenges lying ahead? Can the international economy avoid a “hard landing"?(00:43)China urges breakthroughs in GPUs, robotics, and quantum computing to drive “future industries".(20:12)]]>
2/2/2024 • 27 minutes
Global shipping prices rising as Red Sea crisis deepens
Global shipping rates are rising as Houthi forces continue to attack ships in the Red Sea. Data shows that the cost of shipping from Asia to Northern Europe has surged 460% compared to mid-October. The IMF says maritime traffic through the Suez Canal is down 37% this year. What is the impact of the Red Sea crisis on global logistics and the economy (00:40)?
The World Tourism Organization says global tourism will fully recover from the pandemic in 2024. What’s the driving force behind the rebound of tourism activity (18:38)?
1/26/2024 • 27 minutes
China's economy grows by 5.2% in 2023
Chinese Premier Li Qiang has addressed the World Economic Forum, highlighting China's contribution to global economic growth (00:45).
China's 2023 economic performance exceeded expectations, with GDP increasing 5.2%. What does this figure reveal about the overall economic landscape in China, and can we infer any specific trends or opportunities from this growth rate (17:58)?
1/19/2024 • 27 minutes
What is behind tourism miracle in Chinese "ice city" Harbin?
China's "ice and snow city" Harbin is seeing an unprecedented influx of tourists. Many people from warmer parts of the country flock to the frosty North. What is behind this tourism miracle in Harbin? Is it part of a new driving force for the revival of China's Northeast region (00:39)?
China plans to facilitate common prosperity through the digital economy (15:50).
1/12/2024 • 27 minutes
China’s first home-built cruise ship sets sail on maiden voyage
China’s Caixin manufacturing PMI rose to 50.8 in December from 50.7 in November. Meanwhile, China's official PMI, which includes both manufacturing and non-manufacturing activities, came in at 50.3 in December. How is Caixin manufacturing PMI different from the official PMI? What can it tell about China's manufacturing sector? And what’s the current situation of China’s economy (00:44)?
The first home-built cruise ship in China sets sail on its maiden voyage (19:55).
1/5/2024 • 27 minutes
What to expect for the world economy in 2024?
The world economy has weathered a lot of challenges this year. Many international institutions expect global growth to slow in 2024 due to elevated interest rates, higher energy prices, and geopolitical uncertainties. What has been happening for the global economy in 2023? What are the challenges expected ahead? Can technological advancements deliver new drivers for the global economy?
12/29/2023 • 27 minutes
China's reform and opening-up 45 years on
This year marks the 45th anniversary of China's reform and opening up. It's also been ten years since China decided to deepen reforms. China is now the world's second-largest economy and the largest manufacturer. What does it mean when we talk about reform and opening-up? How has China's economy developed over the past 45 years(00:43)?
We'll also look at ChatGPT. Nature magazine has included it among the top 10 most influential researchers of the year (16:43).
12/22/2023 • 26 minutes, 1 second
China plans to boost economic recovery in 2024
China held its annual Central Economic Work Conference this week as Chinese leaders decided on the priorities for next year's economic work. How does China plan to navigate through headwinds and boost its economic recovery in 2024? What favorable factors will continue to support China as a significant contributor to the global economy?
12/15/2023 • 27 minutes
How have China’s car makers managed to get ahead in the EV era?
Chinese President Xi Jinping has called on Shanghai to deepen reform and opening up. What is Shanghai’s role in China’s high-quality development (00:44)?
We’ll also take a look at how China’s car makers managed to get ahead in the EV era (11:15).
12/8/2023 • 27 minutes
Stabilizing the global supply chain
The first China International Supply Chain Expo was held in Beijing this week. It aimed to provide a platform for enterprises to expand trade and investment cooperation. It covered many areas, including smart vehicles, green agriculture, clean energy, and digital technology. What must be done to stabilize and build more trust in the global supply chain (00:44)?
Germany's GDP fell by 0.1 points in the third quarter compared with Q2. Is Germany’s economy headed for a recession (18:23)?
12/1/2023 • 27 minutes
What does OpenAI's high drama mean for progress in AI?
The artificial intelligence sector has faced high drama recently, partly because of OpenAI and its CEO, Sam Altman. Altman is back as CEO after OpenAI’s board fired him a few days ago, and staff nearly revolted. Meanwhile, AI is already transforming the workplace. How will the development of AI change our work and life? What should be done to regulate it (00:41)?
China and Saudi Arabia have signed a local currency swap agreement. What does it mean for the two countries (21:30)?
11/24/2023 • 27 minutes
APEC meeting 2023: challenges and opportunities
Leaders of the 21 economies around the Asia Pacific region have gathered in San Francisco to discuss economic growth and other issues. The summit between Chinese President Xi Jinping and US President Joe Biden has attracted global attention. What are the highlights of this year’s APEC meeting, and what has the group achieved (00:43)?
China recorded strong retail sales and industrial activity in October (20:21).
11/17/2023 • 27 minutes
What does CIIE tell us about China’s economy?
Global executives and officials have been attending the sixth International Import Expo in Shanghai. What does it tell us about China’s economic outlook (00:39)?
China pledges to expand financial openness at the Financial Street Forum in Beijing (12:26).
Elon Musk launches new A.I. chatbot “Grok” (18:04).
11/10/2023 • 27 minutes
What signal has China sent with its Central Financial Work Conference?
China has held its Central Financial Work Conference in Beijing to deepen reforms in the financial sector. What signal has been sent by the conference (00:40)?
We’ll also examine the latest developments in the country’s EV manufacturing sector (20:21).
11/3/2023 • 27 minutes
China to issue one trillion yuan of bonds to support economy
China has approved one trillion yuan in new government bonds to support the economy. Why is the country making this move now (00:39)?
The IMF says Germany is likely to overtake Japan as the No. 3 economy in the world in 2023. (18:45)
10/27/2023 • 27 minutes
How the BRI contributes to world economic integration?
China hosts the Third Belt and Road Forum for International Cooperation this week, how does the BRI contribute to world economic integration (00:41)?
China's telecommunications and Internet companies increase their investments in the cloud computing industry (18:39).
10/20/2023 • 27 minutes
How has BRI benefited participants?
The IMF has released its latest World Economic Outlook. The fund left its global growth forecast for this year unchanged at 3%.(00:43)
China has published a white paper on the achievements of the Belt and Road Initiative over the past ten years. What has been achieved through BRI? (18:45)
10/13/2023 • 27 minutes
World Bank forecasts 5.1% growth for China in 2023
The World Bank projects 5.1% growth for the Chinese economy this year. What are the driving forces for China’s economy (00:41)?
The US autoworkers strike has cost the US economy nearly four billion U.S. dollars (17:43).
10/6/2023 • 27 minutes
Foreign institutions remain optimistic about China’s economy
China hopes the European Union will lift restrictions on Chinese high-tech products (00:40).
Foreign institutions have expressed positive views on the A-share market and China's economic growth. What’s the basis for their enthusiasm?(15:22)
9/29/2023 • 27 minutes
China saw a steady economic recovery in August
China posted better-than-expected economic data in August as the world's second-largest economy continues to recover steadily. What are the signals behind the indicators? And what has China done to cope
with its current challenges (00:38)?
We’ll also look at what China’s Belt and Road Initiative has achieved ten years on (18:02).
9/22/2023 • 27 minutes
EU cuts eurozone economic growth forecast
The European Commission has cut the growth forecast for the Eurozone economy to 0.8% in 2023 and 1.4% in 2024. Why are the prospects deteriorating for the region’s economy (00:41)?
Apple unveils its latest gadgets, including the newest generation of iPhones (19:37).
9/15/2023 • 27 minutes
Digital Technologies are in the spotlight at CIFTIS
Digital technologies, represented by the Internet of Things, robotics, and artificial intelligence, are a bright spot at this year's China International Fair for Trade in Services in Beijing. How will they improve the efficiency of industrial production?
9/8/2023 • 27 minutes
China, US to continue dialogue on trade, export controls
China has cut its stamp duty on securities trading to activate the capital market and boost investor confidence. Chinese financial authorities say the country plans to expand demand further, shore up confidence, and prevent risk in the year's second half. How will it help stimulate the economy (00:41)?
China and the U.S. have agreed to hold more dialogue on trade and export control. What does it mean for the two countries(15:03)?
9/1/2023 • 27 minutes
Why is BRICS attractive to developing countries?
Chinese President Xi Jinping calls for cooperation between BRICS countries at the summit in Johannesburg, South Africa. He says development is a right of all nations and not a privilege limited to a few countries (00:39).
We also discuss China’s summer spending. Why is the cultural and tourism sector in China booming? What does it mean for the economy as a whole (18:12)?
8/25/2023 • 27 minutes
China issues 24-point guideline to further attract global capital
China has issued a 24-point guideline that would further optimize the country’s business environment and attract foreign capital. How will the new policy benefit multinational corporations? (00:46)
Ahead of the upcoming BRICS Summit, what are the key economic issues to be discussed? (16:40)
8/18/2023 • 27 minutes
Why does China lead the world in auto exports?
In the first half of this year, China exported over two million vehicles, surpassing Japan and Germany to become the world's largest auto exporter for the first time. China’s auto exports expanded on the increased sales of new energy vehicles, which accounted for 25 percent of the total. What are the main reasons behind China overtaking its competitors (00:38)?
Fitch downgrades U.S. credit rating. What impact will it have on the US economy (18:02)?
8/11/2023 • 27 minutes
China issues measures to boost consumption and private economy
China has announced measures to boost domestic consumption and the private sector. How effective will these new measures be (00:44)?
We’ll also take a look at the eurozone economy. Will it avoid a recession this year (17:42)?
8/4/2023 • 27 minutes
IMF raises global economic growth forecast to 3% in 2023
The International Monetary Fund has improved its outlook on global economic growth for this year. The fund projected three percent global GDP growth in 2023, up 0.2 points from its April report. Its forecast for China is unchanged at 5.2 % for 2023 and 4.5 % in 2024. What are China’s primary economic tasks in the second half of the year? What is the single most significant risk factor facing the global economy?
7/28/2023 • 27 minutes
China’s economy expanded by 5.5% in the first half of the year
China's gross domestic product grew by 5.5 % in the first half of the year, reaching 59 trillion yuan, or around 8.3 trillion US dollars. What do the latest economic figures tell us? What policy response can we expect(00:40)?
China has issued a guideline on promoting the development of the private economy. What message does it send (17:52)?
7/21/2023 • 27 minutes
China to raise opening up to a new level
China is aiming to raise its opening up to a new level actively. What is the key message China is sending (00:41)?
The latest OECD report says the world job market is on the brink of an AI revolution, with 27% of workers at high risk of being automated (20:23).
7/14/2023 • 27 minutes
China's Caixin services PMI shows expansion for sixth straight month
China's Caixin services PMI eased to 53.9 in June but remained comfortably above the 50-point benchmark indicating expansion in activity. Meanwhile, the Caixin manufacturing PMI came in at 50.5 in June. What are the signals behind these indicators? What’s the current state of the Chinese economy (00:41)?
For the first time, Argentina has used the Chinese currency to settle part of its debt with the International Monetary Fund. Why does Argentina want to deepen the use of the yuan and reduce dependence on the US dollar (23:20)?
7/7/2023 • 27 minutes
Summer Davos discusses innovation, technology, and economic growth
Chinese Premier Li Qiang has set a bullish tone on economic growth in a speech at this year's Summer Davos Forum in Tianjin. He said China's economic growth in the second quarter would be higher than the first quarter (00:43).
We’ll also look at China’s unicorn enterprises. Who are they, and what sectors are they concentrated in (19:17)?
6/30/2023 • 27 minutes
How China’s tech innovation fuels economic growth?
One of the key competitions in today’s world is in science, technology and innovation. China ranked 11th on the Global Innovation Index in 2022. What are the driving forces behind China's science-tech innovation (00:39)?
China’s central bank cut its benchmark lending rates for the first time in ten months. What impact will it have on housing, business and the financial markets (16:20)?
6/23/2023 • 27 minutes
Why has US Fed paused interest rate hikes?
The U.S. Federal Reserve left interest rates unchanged for the first time in fifteen months. The decision comes after new data shows inflation reached a record high last year and is now cooling off (00:37).
Who's going to regulate artificial Intelligence? The European Union debated that question and agreed on landmark legislation establishing controls on A.I. use (17:47).
6/16/2023 • 27 minutes
How will Saudi Arabia’s plan to cut oil production impact prices?
The World Bank has lifted its growth forecast for global growth in 2023, citing better-than-expected resilience from major economies such as China and the U.S. What more does the World Bank say about the global economy? How could China contribute to the growth (00:42)?
Saudi Arabia pledges to cut oil output by one million barrels a day starting in July. What’s the outlook for oil prices in the coming months (16:05)?
6/9/2023 • 27 minutes
Artificial Intelligence high on agenda at Zhongguancun Forum
Artificial Intelligence is high on the agenda at the Zhongguancun Forum this week. When walking into the forum, visitors encounter various robots providing services such as delivery, reception, and guidance. What advantages does China have in Artificial Intelligence? (00:40)
Singapore home prices have surpassed Hong Kong as Asia Pacific’s most expensive. Why are they so costly? (21:28)
6/2/2023 • 27 minutes
What does China’s population issue mean for the economy?
China will raise its basic pension payments for retirees in 2023, marking the 19th consecutive annual increase. Official data shows by the end of 2022, the number of Chinese people aged 60 or above had surpassed 280 million, accounting for nearly 20% of the country's total population. How should China cope with its aging society? Does China still have demographic dividend? Or is it transitioning to talent dividend? What does it mean for the economy (00:42)?
We’ll also take a look at China-Europe freight train service. Who will benefit from the service and how (21:06)?
5/26/2023 • 27 minutes
How should artificial intelligence be regulated?
China's economy picked up again in April, with growth in both retail sales and industrial output. Meanwhile, a latest UN report says China’s economic growth is expected to increase by 5.3% this year. How will China’s recovery impact the global economy (00:42)?
The CEO of OpenAI Sam Altman testified on the possibilities and dangers of the new technology chatGPT. How should artificial intelligence be regulated (16:22)?
5/19/2023 • 27 minutes
China's trade rises 5.8% in first four months
China's foreign trade rose 5.8% in the first four months of this year. What’s the state of China’s economic recovery? And what has China done to cope with its current challenges (00:41)?
We'll also take a closer look at China's trade with Belt and Road Initiative countries (18:40).
5/12/2023 • 27 minutes
What’s behind the boom in Chinese tourism during the Labor Day holiday?
The U.S. Federal Reserve raised interest rates by a quarter of a percentage point. This is the tenth hikes in 14 months.The moves have pushed the US benchmark rates to between 5% and 5.25%. Has it gone beyond investors’ expectations? How would the U.S. economy react to this additional rise (00:40)?
Chinese tourism saw a remarkable surge during the five-day Labor Day holiday. What does it mean for China's economic recovery (20:58)?
5/5/2023 • 27 minutes
Population size matters, but is "talent dividend" more important?
The United Nations estimates that China will soon cease to be the world's most populous country. It says India will surpass China by mid-2023. What is the demographic dividend besides the whole population of a country? What does it mean for the country's economy (00:41)?
The “new capital of barbecue,” Zibo, has become a hot destination for travelers in China. How did it get so famous in such a short time (18:32)?
4/28/2023 • 27 minutes
What drove China’s economic rebound in Q1?
China's economy rebounded more than expected in the year's first quarter. GDP grew at 4.5 %. What are the main driving forces for China’s economic rebound? Will this growth momentum sustain or even accelerate throughout the year (00:40)?
How should we regulate Chatbot technology (16:17)?
4/21/2023 • 27 minutes
IMF describes Chinese economy as key contributor to global growth
While the global economy faces many challenges, the IMF predicts that China's economy will grow by 5.2% this year. What’s the basis for this optimism? How strong is the influence of China's reopening on the global economy (00:40)?
What more do the latest economic figures say about China's growth (21:22)?
4/14/2023 • 27 minutes
Why is the world trending away from the US dollar?
Oil prices jumped after OPEC+ producers announced further output cuts. Saudi Arabia and other OPEC+ nations announced production cuts of nearly 1.2 million barrels per day. Why are OPEC+ nations announcing additional cuts right now? How will it affect oil prices on the global market (00:42)?
China and Brazil will use their domestic currencies in bilateral trade. Are we seeing a trend of de-dollarization (14:28)?
4/7/2023 • 27 minutes
Global Banking Shake-up and Its Ripple Effects
American bank First Citizens has agreed to buy failed lender Silicon Valley Bank. First Citizens will acquire SVB from the United States financial regulator, which controls SVB assets. What’s next for Silicon Valley Bank and the global banking system? Financial markets turmoil over the past two weeks has caused great concern across the globe. What’s the outlook for the global economy (00:43)?
We’ll also look at this year’s Boao forum for Asia, for which technological competition and cooperation is a hot topic during meetings (17:10).
3/31/2023 • 27 minutes
US Fed hikes rates by 25 basis points amid banking turmoil
The US Federal Reserve has raised interest rates again to fight inflation, despite banking turmoil. The Fed upped its key rates by 25 basis points, the lowest hike in nearly a year. Why does the Fed keep hiking rates? Does it mean fighting inflation is more important than curbing the banking sector fallout? How much responsibility does the Fed bear for the banking crisis (00:40)?
We’ll also take a look at the chip industry in China. Can China achieve self-reliance in the semiconductor industry in the next few years (18:19)?
3/24/2023 • 27 minutes
What is next for Silicon Valley Bank?
In the wake of the collapse of Silicon Valley Bank, Moody's cut its outlook for the U.S. banking system to negative. A day before, President Joe Biden urged the U.S. public to continue to trust the sector. What is next for Silicon Valley Bank? Will U.S. banking fears spread further? Will the Federal Reserve halt its interest rate hikes to boost confidence in the financial system?
3/17/2023 • 27 minutes
China aims for economic growth at around 5% in 2023
China has set a goal for its economy to grow at around 5 % in 2023. This GDP target announced in the government work report marks a significant acceleration from the 3% growth seen last year. What sectors of the economy are likely to see growth momentum?
3/10/2023 • 27 minutes
China unveils plan to promote digital development through 2035
China has unveiled a plan to promote digital development through 2035. What does a "digital China" mean? What is driving the digital economy for the world's second-largest economy (00:42)?
Since the easing of Covid-19 restrictions, China’s economic recovery is gathering pace. We spoke with Wang Dan, chief economist of Hang Seng Bank (China), about her view on China’s market and economy in 2023 (18:32).
3/3/2023 • 27 minutes
How will China’s economic recovery benefit the world?
Goldman Sachs upgraded China’s economic growth forecast to around 6.5% this year. How will China’s economic recovery benefit the world (00:46)?
We spoke with the chairman of a US company in China about his view on China’s market and economy. He also talked about how the business communities in the US and China can contribute to developing bilateral relations (17:18).
2/24/2023 • 27 minutes
Multinational companies pursue business opportunities in China
Top executives of multinational companies are planning visits to China as economic activities recover following the easing of COVID-19 restrictions. What business opportunities are they pursuing? How do they view China’s market(00:46)?
We also talked exclusively with Jens Eskelund, vice president of the EU Chamber of Commerce in China, about his view on China’s markets and the economic bounce back in 2023 (15:52).
2/17/2023 • 27 minutes
How will ChatGPT change our work and lives?
How will China’s resumption of outbound group travel contribute to the overall recovery in global tourism (00:38)?
Microsoft and Google are gearing up for a battle for leadership in ChatGPT. Is the intensifying competition a welcome sign? How will ChatGPT change our lives? How are universities and higher education responding to it (15:10)?
2/10/2023 • 27 minutes
What is driving China’s economic rebound in 2023?
The IMF raised China's growth forecast to 5.2% in 2023. What are the driving factors for the economic rebound? In what fields could China contribute to the world economy this year(0:40)?
The US Federal Reserve increased interest rates by 25 basis points but warned that more hikes could come. What are the implications for the US and global economies(14:33)?
2/3/2023 • 27 minutes
China’s role in the global economy
The International Monetary Fund hinted it might raise its global economic outlook this year. IMF head Kristalina Georgieva said the global outlook is not as bad as feared a couple of months ago — “but less bad doesn’t quite yet mean good.” She said global headline inflation was heading down, and China’s reopening should boost global growth. The IMF is now forecasting China’s economy will outpace global growth of 2.7% this year at 4.4%.
So what’s the state of the global economy? Where is it heading to? What is China’s role in it?
1/26/2023 • 27 minutes
China’s economy: how can it remain resilient among pressures in 2023?
China's economy grew by 3 percent to 121 trillion yuan in 2022, despite many challenges and pressures. Industrial output rose 3.6 percent over the previous year, while retail sales shrank slightly by 0.2 percent. There are expectations that the economy could rebound, with growth reaching 5 percent or even higher this year.
How much momentum will China’s economy have in 2023? Will it be able to weather the headwinds and maintain stability and resilience?
1/20/2023 • 27 minutes
Why are more foreign investors turning bullish on China’s A-shares?
Global investors are buying more Chinese stocks as they are increasingly bullish on the market. Foreign capital inflows into A-shares through the northbound trading system exceeded over 41 billion yuan ($6 billion) since January, equivalent to nearly half of the 90 billion yuan bought by foreign investors in all of 2022. Why more and more global investors are turning their attention to the China A shares market? (00:42)
The French government has announced a highly controversial pension reform, a proposal that might cause a political and social storm for the administration of President Emmanuel Macron. France’s Pension Advisory Council has estimated if nothing was changed, the country’s pension system would have a deficit of 13.5 billion euros by 2030. We look at what’s in the reform and how will it affect people’s lives and the country’s economy in the long term. (15:57)
1/13/2023 • 27 minutes
What benefits has RCEP brought to the member states in one year's time?
It has been a year since the Regional Comprehensive Economic Partnership, or RCEP, came into effect. It is the world's largest free trade agreement among Asia Pacific nations. What benefits has it brought to the member states so far (00:43)?
German official says EU should monitor Twitter for its 'anti-competitive behavior'. What has Musk done in the past two months since he bought Twitter (21:10)?
1/5/2023 • 27 minutes
China’s economy to rebound robustly in 2023
It has been a bumpy ride for China and the global economy throughout 2022 with multiple challenges. In the year-end show, we take a look at what made headlines and what we can expect in 2023? Will China's economy rebound robustly as the country has lifted COVID-19 restrictions?
12/29/2022 • 24 minutes, 42 seconds
Chinese EV makers set sights on winning over European markets
China's digital economy makes up nearly 40% of country’s total GDP. What’s behind its incredible growth (00:43)?
Chinese EV makers set sights on winning over European markets. What’s the competition scenario of the EV industry in Europe (18:34)?
12/22/2022 • 27 minutes
How will China’s new COVID approach spur economy and boost market confidence?
More foreign financial institutions predict that the Chinese economy will rebound stronger in 2023.
This week, Morgan Stanley revised its growth outlook for China’s economy in 2023 to 5.4% from its previous forecast of 5%.
Standard Chartered expects China’s economy to grow at 5.8% next year. Meanwhile, the International Monetary Fund has also raised its forecast for the Chinese economy to 4.4% in 2023.
How did China’s economy stay resilient during the COVID-19 pandemic, and what impact would easing COVID-19 measures have on boosting the country’s economic growth in 2023?
12/16/2022 • 27 minutes
Has Eurozone inflation peaked?
Inflation in the euro zone slowed slightly in November to 10%. What are some of the main reasons of the slowdown? Has inflation in the Euro zone peaked? Is Europe falling into a recession this winter? (00:41)
We’ll also take a look at the UK economy. Is the country facing a “lost decade” of growth (15:51)?
12/8/2022 • 27 minutes
Why is China cutting the reserve requirement ratio?
China's central bank has announced it will cut the banks' reserve requirement ratio by 25 basis points on December 5th. Why this move now? (00:40)
We’ll also take a look at the world economy and where it's headed. (12:08)
11/28/2022 • 27 minutes
China's monetary policy offers strong support to the economy
China's monetary policy will continue to offer strong support to the economy.The governor of the People's Bank of China Yi Gang addressed the Financial Street Forum in Beijing this week. How can the financial industry enhance its support for the country's real economy (00:38)?
Chinese electric vehicle makers have set their eyes on winning over European markets. What are their advantages in the European market? What challenges are they facing (16:20)?
11/24/2022 • 27 minutes
How did G20 focus on global economic challenges?
G20 summit was held in Bali, Indonesia this week. China calls on G20 members to promote 'inclusive, beneficial, resilient' global development.How did G20 focus on solving global economic challenges (00:42)?
The latest economic figures show China continuing its recovery momentum in October. What are the driving forces behind the recovery (20:48)?
11/17/2022 • 27 minutes
What’s behind US tech layoff trend?
China's digital economy accounts for about 40% of its total GDP. What are the driving forces of its rapid development (00:43)?
Facebook’s parent company, Meta, announced its first major job cut in the company's history. What’s behind US tech giants’ layoff trend? Will there be more tech layoffs in the future (18:53)?
11/10/2022 • 27 minutes
How will Elon Musk change Twitter?
China's outbound investment increased by 8.5% in the first nine months. What are the destinations of these investments (00:40)?
Elon Musk has become Twitter's new owner. What's next for the social media platform (20:08)?
11/3/2022 • 27 minutes
New UK PM: What are his solutions to economic challenges?
China promotes foreign investment with a focus on manufacturing, what opportunities are there for global investors (00:45)?
The U.K.’s new Prime Minister Rishi Sunak, what are his plans for restoring economic stability (17:07)?
10/27/2022 • 27 minutes
Why is developing the real economy critical for China?
China has pledged to expand its opening-up and strive for open and inclusive economic globalization. An official with China's top economic regulator says it's wrong to think that by focusing on its domestic economy, China will scale back its opening-up efforts. Why is it essential to expand the opening up? Why is developing the real economy critical for China (00:41)?
We’ll also discuss the current situation regarding energy supply in Europe. Is the E.U. ready for the coming winter (19:03)?
10/20/2022 • 27 minutes
What is driving China’s innovation development?
According to the World Intellectual Property Organization, China rose to the 11th on the global innovation index 2022.This shows that China jumped 23 places up from the 34th spot a decade ago. What are the main drivers for China’s innovation improvement (00:38)?
The IMF has cut its global growth forecast for next year to 2.7 percent, down by 0.2 percentage point from its July forecast. Apart from the pandemic and the Russia-Ukraine conflict, what are some other factors that have weakened the global economy(19:53)?
10/13/2022 • 27 minutes
Why did UK ditch its tax cut plan?
UNCTAD warns that monetary policies in advanced economies may trigger a global recession. What’s the current situation of the world economy? Where will it go in the next year (00:41)?
We'll examine why the U.K. is ditching its tax-cut plan (19:15).
10/6/2022 • 27 minutes, 1 second
OECD slashes global growth forecast for 2023
The OECD has slashed its global growth forecast for 2023 to 2.2%. How will geopolitical tensions, the Covid-19 pandemic, and the U.S. Fed’s interest rate hikes impact the world economy?
9/29/2022 • 27 minutes
Why does Germany nationalize energy giant Uniper?
The U.S. Federal Reserve has raised its key interest rate by three-quarters of a point again. Can this tame the inflation? Will it lead the world economic into recession(00:40)?
The German government has agreed to nationalize its energy giant Uniper. Why now? How will Europe deal with the energy crunch for this coming winter(17:36)?
9/22/2022 • 27 minutes
How high will global food prices go?
Global food prices in July were 13% higher than a year ago, and the prices could keep rising. How high will it go (00:44)?
In the U.S., inflation remained unexpectedly high in August. Over the last 12 months, the CPI rose 8.3%, down slightly from July’s 8.5% rise. When will price increases end? How to tame US inflation (18:57)?
9/16/2022 • 27 minutes
Why OPEC Plus Agreed to Cut Production from October?
OPEC-plus has decided to cut oil production starting from next month. What does it mean for the current energy crisis in Europe (00:43)?
China has published the list of the top 500 Chinese enterprises. Who is on the list this year (19:26)?
9/9/2022 • 27 minutes
Why all the volatility in global markets following Powell's rate hike warning?
Profits of China's major industrial enterprises fell by 1.1% year on year in the first seven months, but revenues still increased. What's behind the increase in revenue but fall in profits(00:40)?
Markets in the US, Asia and Europe dropped this week and the U.S. dollar rallied after US Federal Reserve chair Jerome Powell warned of more rate hikes to fight inflation. What are some contributors to the volatility in the global markets(14:41)?
9/2/2022 • 27 minutes
How can your life and work be changed by robots?
This year's World Robot Conference offered insights into the real-life applications for advanced robots in multiple fields. How can robots change people’s lives and work? (00:40)
Huawei founder Ren Zhengfei said the company needs to change its business strategy to ensure its survival in the next three years. What can they do to maintain profit growth? (20:06)
8/26/2022 • 27 minutes, 1 second
Can US Inflation Reduction Act help tame rising prices?
U.S. President Joe Biden has signed the Inflation Reduction Act into law. But can it solve the U.S. inflation problem? Why is inflation a global phenomenon right now (00:41)?
The Chinese property market is at a turning point. Considering the changing demographics in China, what’s the outlook for it (19:10)?
8/19/2022 • 27 minutes
Why did global food prices fall?
Global food prices fell sharply in July, but they are still up from last year. Why did prices fall? How will it affect global consumers and economies (00:39)?
Baidu says it will operate fully driverless robotaxis in two Chinese cities. What stage are we at now in terms of self-driving technology? How will it change people’s ways of commuting (17:49)?
8/12/2022 • 27 minutes
U.S. CHIPS Act, will it disrupt global semiconductor supply chain?
The U.S. congress has passed the 280 billion US dollar industrial policy bill, the CHIPS and Science Act. Will it make chipmakers have to take side between US and China (00:40)?
OPEC plus said it would produce an additional 100,000 barrels a day in September. That is the smallest increase since quotas were introduced 40 years ago. Why was the increase so small (18:08)?
8/4/2022 • 27 minutes
Can the Fed's interest rate hikes tame inflation?
The 2nd China International Consumer Products Expo shows China's determination to further open up to the world(00:42). The U.S. Federal Reserve has once again raised its interest rate by 75 basis points in its fight against soaring inflation. But is this working? Will the US avoid falling into recession(16:49)?
7/28/2022 • 27 minutes
Why is euro falling?
The euro fell below parity with the U.S. dollar this month, the first time that’s happened in 20 years. Why is the euro falling and what does it mean for the Eurozone economy (00:42)? Twitter's lawsuit against Elon Musk, a judge ordered the case to go to trial in October (19:18).
7/21/2022 • 27 minutes
Analysis: China's GDP expands 2.5% in H1
China's gross domestic product expanded 2.5% in the first half of this year. How has the Chinese economy performed so far this year? From now on, will the pace of recovery be strong?
7/14/2022 • 27 minutes
Why has China's digital economy developed so rapidly?
China's digital economy increased to 6.7 trillion U.S. dollars last year, second only to the U.S. What is driving the digital economy (00:40)? Chinese automaker BYD has overtaken Tesla as the world’s top electric vehicle producer by sales (19:14).
7/7/2022 • 27 minutes
Hong Kong's role in connecting China and international markets
Hong Kong celebrated its 25th anniversary of returning to the motherland on July 1st. Hong Kong has remained one of the world’s freest economies for the past 25 years, and has been a major international financial hub.The city is now integrating further with the mainland economy through the Greater Bay Area, which includes 11 cities centered on technology, innovation and high-end manufacturing.
So what is Hong Kong's role in connecting China to global markets? What is unique about Hong Kong as an international financial hub?
6/30/2022 • 27 minutes
What role can BRICS play in promoting global economic recovery?
Economists say the BRICS countries, Brazil, Russia, India, China and South Africa, represent "a stabilizing factor in regional development and the global supply chain". So what are some of the main areas that the BRICS countries can cooperate on when it comes to trade and the global economy? What are the key roles that BRICS countries can play in promoting global economic recovery?
6/23/2022 • 27 minutes
US Fed announces highest interest rate hike in years - could it lead to a recession?
China’s economic recovery gathered speed in May as key indicators were stronger than expected. But what are the challenges ahead (00:43)?
The U.S. Fed announced a 75- basis-point interest rate hike to fight inflation. Could the move lead to a recession (17:34)?
6/16/2022 • 27 minutes
China's exports surge at double-digit rate in May
China's exports surged at double-digit rate in May, beating market expectations. What is the outlook for China's foreign trade this year(00:40)? The World Bank cuts its global growth forecast to 2.9% for this year, is the world economy heading into a recession(16:58)?
6/9/2022 • 27 minutes
High inflation in US: is this time different from the 1970s?
China unveils a package of 33 policy measures to support the economy. How will they work (00:35)? The U.S. Inflation rate slowed slightly in April but remained a huge concern. What's the gravity of the current inflationary shock (09:05)?
6/2/2022 • 27 minutes
World Economic Forum delegates discuss prospects for global economy
Thousands gathered in Davos over the past week for the World Economic Forum to discuss political and financial policies. The focus is on the Russia-Ukraine conflict, surging global inflation, and the fast-approaching climate emission deadlines. So what is on the Davos agenda? What are the prospects for the global economy?
5/26/2022 • 27 minutes
Chinese economy in April
China's April industrial output and retail sales shrank amid Covid-19 resurgence. What’s the current state of the Chinese economy? Will the government roll out more supporting policies?
5/19/2022 • 27 minutes
China's foreign trade up 7.9% in first four months of 2022
China's foreign trade up 7.9% in the first four months of this year. What contributed to this resilience for China's economy?
5/12/2022 • 27 minutes
Will Global Inflation Come Faster Than Anticipated?
The IMF Deputy says global inflation may come faster than anticipated. What can be done to tame inflation without bringing about a recession?
5/5/2022 • 27 minutes
President Xi calls for advancing infrastructure development
Chinese President Xi Jinping has called for all-out efforts in strengthening the construction of a modern infrastructure system in China.
4/29/2022 • 27 minutes
What can Asia do to kick start the world economic recovery?
The Boao Forum for Asia 2022 was held in Hainan province. Chinese President Xi Jinping called for making Asia an anchor for world peace and a powerhouse for global growth. What can Asia do to kick start the world economic recovery?
4/21/2022 • 27 minutes
Why does China need to build a unified domestic market?
China is taking further steps in unifying its domestic market. Why is a unified national market important to China?
4/14/2022 • 27 minutes
Eurozone inflation hits record high of 7.5%, why?
Annual inflation in the Eurozone in March hit a record high of 7.5%, up from 5.9% in the previous month. What are the main contributors for the high inflation? Which countries will be hit the hardest? Will the ECB raise interest rate to hedge against the risk?
4/7/2022 • 27 minutes
Huawei profit surges despite U.S. sanctions, how?
Chinese telecom giant Huawei has reported record profits for 2021, despite dealing with challenging U.S. sanctions. How did the company accomplish this? Why is the U.S. failing to stop Huawei in the push to dominate 5G technology?
3/31/2022 • 27 minutes
How has the Russia-Ukraine conflict disrupted the global economy?
It has been more than a month since the start of the Russia-Ukraine conflict, and the knock-on effects have spread to the rest of the world. What are the broader economic impacts of the ongoing Ukraine crisis?
3/24/2022 • 27 minutes
US Fed raises interest rates for the first time since 2018
The U.S. Federal Reserve has raised its benchmark interest rate for the first time since 2018. What are the global ramifications of this move? How will it impact emerging market economies?
3/17/2022 • 27 minutes
What role do geopolitical factors play in the global economy today?
The U.S. and U.K. are banning Russian oil imports, and the E.U. plans to end its reliance on Russian gas. After they announced their decisions, Brent Crude futures fell 13%, the biggest one-day percentage declined since April 2020. What is causing this turbulence? What’s the outlook for the global economy?
3/10/2022 • 27 minutes
What possible impacts of removing Russian banks from SWIFT?
The United States, European Union, and other Western allies have agreed to exclude key Russian banks from SWIFT, the world's leading international payments network.
The move is among the sanctions for Moscow's military operations in Ukraine.
The European Union said it banned seven Russian banks from the SWIFT system but stopped short of excluding those handling energy payments.
So what's the significance of this move? Will sanctions also squeeze the global economy?
3/3/2022 • 27 minutes
Global markets volatile over Russia-Ukraine conflicts
Russia's military operation against Ukraine has ripped through financial markets around the world, and sent oil prices soaring over $100 a barrel.
European natural gas prices jumped higher on disruption worries.
Nearly 40 percent of the European Union's natural gas and 26 percent of its crude oil comes from Russia.
Meanwhile, stock markets across the world were volatile.
For more on the global markets and how they're reacting to Russia's action in Ukraine, our host Zhao Yang spoke with Winston Wang, an investor and former diplomat, and Einar Tangen, an independent political and economic affairs commentator.
2/24/2022 • 27 minutes
What does China's slowing CPI, PPI growth mean for the economy?
China's consumer price index, a main gauge of inflation, rose by 0.9 percent year-on-year in January, down from the 1.5-percent increase a month earlier.
The National Bureau of Statistics said the January CPI is generally stable as departments worked to secure supply during Spring Festival.
Meanwhile, China's official producer price index, or PPI, rose by 9.1 percent year-on-year in January, easing from a 10.3-percent rise in December.
What do these rates tell us about China’s economy?
2/17/2022 • 27 minutes
How are US markets reacting to the latest inflation numbers?
Americans are struggling with the highest inflation rate in four decades.
The cost of living was up 7.5% in January from a year earlier.
Experts say the increase is due to a number of factors, including supply chain disruptions, Federal aid, and historically low interest rates. How did the U.S. market react to the inflation numbers?
2/10/2022 • 27 minutes
America's national debt hits a new high. What does it mean for the national economy?
America's national debt has reached an all-time high of over $30 trillion earlier this week.
That has triggered concerns about the country's future economic health.
Could the higher debt levels trigger a fiscal crisis and lead to higher inflation? And what does it mean for the U.S. economy?
Host Zhao Yang spoke to Einar Tangen, an independent Commentator, and Winston Wang, an investor and former diplomat.
2/3/2022 • 27 minutes
What is driving the digital yuan and digital economy?
China's official digital yuan wallet applications have already been available for download on mobile phone app stores.
This is a step forward in the country's development of its digital currency as the Beijing Winter Olympics approaches.
It is also a good example that reflects China’s development in digital economy these years.
What is the digital currency? How does it work? What is driving the digital economy?
1/27/2022 • 27 minutes
What can we expect from China's robotics and smart manufacturing?
China has unveiled a five-year plan for smart manufacturing, vowing that large manufacturers will achieve digitalization by 2025.
The country’s move aims to bolster competitiveness amid the global race in advanced manufacturing.
So, how advanced is China’s intelligent manufacturing? What is its global position?
1/20/2022 • 27 minutes
How do different countries deal with inflation issues?
Official data shows that China’s consumer inflation rose 1.5 percent year on year in December, down from the 2.3-percent pace in November.
The CPI last year climbed 0.9 percent, well below the country's annual target of around 3 percent.
In other parts of the world, U.S. Inflation hit a fresh 39-year high in December. Eurozone inflation also soared in December to its highest annual rate since records began.
So, how do different countries deal with their inflation issues? Are we seeing a significant divergence between monetary policies in the world's bigger economies?
1/13/2022 • 27 minutes
How did markets respond to China Mobile's debut in Shanghai?
The world's largest free trade agreement officially came into force on the first day of the year. How will RCEP reshape the global economy? What will be its implications for China? Also, China Mobile debuted on the Shanghai Stock Exchange this week. How did the market respond?
1/6/2022 • 27 minutes
World Economy in 2021
In 2021, we have witnessed the world economy waking up from the pandemic effect, but where will it go in 2022?
12/30/2021 • 27 minutes
Challenges for emerging economies in 2022
Federal Reserve policy stance is quite critical to what's going to happen in emerging markets. What are challenges for emerging economies in 2022?
12/23/2021 • 27 minutes
Bank of England raises interest rates; ECB holds
Central banks around the world have expressed concern that high living costs amid the pandemic pose a threat to stability and confidence.
The Bank of England has raised its interest rate for the first time in three years.
Meanwhile, The European Bank said it'll kept its main rate unchanged, and end its pandemic-era bond purchasing program in March.
12/16/2021 • 27 minutes
China outlines measures to ensure macroeconomic stability in 2022
Top Chinese officials have laid out their priorities for the coming new year at an economic conference here in Beijing.
For 2022, China looks to keep developing the economy at a steady pace.
12/12/2021 • 30 minutes, 20 seconds
Stability tops agenda at CPC leadership meeting on 2022 economic work
Central authorities in China say economic work next year should prioritize stability while pursuing progress, and changes of macro policy should be prudent and effective.
12/6/2021 • 13 minutes, 20 seconds
Why have U.S. regulators filed a lawsuit to block the merger of Nvidia with Arm?
Why have U.S. regulators filed a lawsuit to block the merger of Nvidia with Arm? We spoke with Winston Wang, an investor and Einar Tangen, author and columnist.
12/5/2021 • 30 minutes, 7 seconds
OECD cuts global and China GDP projections
The Organization for Economic Cooperation and Development, or OECD, has lowered the world's economic growth outlook for 2021 and called for the ramping up of COVID-19 vaccinations.
12/1/2021 • 9 minutes, 57 seconds
Fed chair signals faster bond-buying taper amid high inflation
Federal Reserve Chair Jerome Powell said that U.S. central bankers will discuss whether to end their bond purchases a few months earlier than anticipated.
11/30/2021 • 11 minutes, 14 seconds
Experts: China-Laos Railway to boost China-ASEAN economic links
Experts say soon-to-open China-Laos Railway will boost economic ties between China and Southeast Asia as an important part of the trans-Asian railway network.
11/29/2021 • 11 minutes, 17 seconds
How will Omicron disrupt global economy?
Oil prices and global stock markets fell amid concerns that the new Omicron Covid-19 variant could dampen economic growth and hit fuel demand.
Regarding how the new variant could possibly affect global markets and the global recovery, I spoke with Wang Dan, chief economist of Hang Seng Bank China, and Einar Tangen, author and columnist.
11/28/2021 • 30 minutes, 1 second
How has China-Africa cooperation developed?
China and Africa have experienced booming trade and investment, with Chinese aid to the continent increasing in a variety of fields that impact people's lives, according to a white paper detailing China-Africa cooperation in the new era released on Friday.
11/25/2021 • 11 minutes, 24 seconds
Amazon, Apple fined $225 mln for alleged collusion by Italian authority
The world is divided in many ways, but most countries agree on one thing:
Big Tech is now too big, and too powerful.
Italy's antitrust authority has fined U.S. tech giants Amazon and Apple a total of more than 200 million euros for alleged anti-competitive cooperation in the sales of Apple and Beats products.
11/24/2021 • 9 minutes, 4 seconds
U.S. to release 50 mln barrels of oil from emergency reserve: White House
U.S. President Joe Biden announced that he has ordered the release of 50 million barrels of oil from the U.S. strategic reserves, according to the White House.
11/23/2021 • 12 minutes, 14 seconds
Global market grows for Electric Vehicles
Both China and the U.S. have seen increasingly hot markets for electric cars that could shape the global market.
11/22/2021 • 9 minutes, 21 seconds
SK Hynix says it is in initial stage of upgrading East China facility
South Korea's SK Hynix said it takes a long time before the company can upgrade its facility in China, but the company will follow market demand and international regulations in operating facilities after media report saying it could become a potential victim of a US-China tech war.
11/21/2021 • 28 minutes, 21 seconds
US Retail sales rise faster than expected in October
US retail sales increased 1.7% for October, compared with 0.8% in the previous month.
Meanwhile, according to the US Commerce Department, US inflation hit 31-year high in October, as consumer prices jump 6.2%. This is running "well above" the Fed's 2% goal.
11/16/2021 • 9 minutes, 31 seconds
China's retail sales rise by 4.9% in October, beat expectations
Official figures show that China's industrial output and retail sales rebounded in October despite COVID-19 curbs and supply shortages.
11/15/2021 • 9 minutes, 35 seconds
Beijing Stock Exchange starts trading
The Beijing Stock Exchange has officially opened for trading. It sets to be a major platform for innovative small and medium-sized enterprises.
11/14/2021 • 30 minutes, 10 seconds
China vows to treat market entities equally, build open market system
China will treat all types of market entities equally and build a "unified and open market system with orderly competition," said Chinese President Xi Jinping in his address at the Asia-Pacific Economic Cooperation (APEC) CEO Summit via video link on Thursday.
11/10/2021 • 13 minutes, 11 seconds
China's PPI surges to record high at 13.5%, CPI up 1.5% in October
China's factory-gate inflation hit a 26-year high in October, while consumer prices rose slightly amid public concerns over food shortages.
Data from the National Bureau of Statistics shows that CPI rose by 1.5% year on year in October.
While the country's PPI rose by 13.5% in the same month, hitting the highest level since July 1995.
So what does this mean for the economy?
11/9/2021 • 9 minutes, 42 seconds
Tesla shares fall after Twitter users vote for Musk to sell stock
Tesla shares fell about 7% in pre-market trading on Monday, after an online poll voted for Elon Musk to sell about 10% of his Tesla shares.
11/8/2021 • 9 minutes, 42 seconds
What is the role of banks on climate change?
A new report shows that the banking sector has poured trillions of U.S. dollars into the fossil fuel industry since the 2015 Paris climate agreement.
What is the role of banks on climate change?
11/7/2021 • 30 minutes, 19 seconds
CIIE eyes further opening-up
China's massive trade fair is expecting companies from more than 120 countries and regions to head to Shanghai, revealing its expanding appetite for imports.
China International Import Expo, or CIIE, will be held from November 5th to 10th, and feature close to 3,000 companies selling food, cars and technical equipment.
11/3/2021 • 9 minutes, 29 seconds
Why Facebook rebrands as Meta?
Facebook CEO Mark Zuckerberg has announced that Facebook will be changing its name to Meta, to reflect its focus on building the metaverse.
11/1/2021 • 9 minutes, 8 seconds
China officially applies to join DEPA
China has officially applied to join the Digital Economy Partnership Agreement.
10/31/2021 • 29 minutes, 1 second
Where is global trade recovery going?
The World Trade Organization has recently upgraded its forecast for global merchandise trade to a 10.8% rise this year.
10/27/2021 • 8 minutes, 31 seconds
China, Japan renew currency-swap deal
The People's Bank of China and the Bank of Japan agreed to renew their bilateral currency-swap deal signed in 2018 to ensure financial stability.
10/26/2021 • 9 minutes, 16 seconds
Tesla completes innovation and data centers in Shanghai
U.S. electric car maker Tesla says it has built a research and data center in Shanghai, its first outside the U.S.
Meanwhile, Tesla surpassed a market value of $1 trillion on Monday, making it the fifth such firm to reach the milestone.
10/25/2021 • 8 minutes, 51 seconds
China’s provincial GDP growth rates signal steady recovery
Eight of the 23 provincial level economies that have released quarterly GDP report faster growth than the country achieved as a whole.
10/24/2021 • 29 minutes, 57 seconds
China's housing market further eases in September
China's property market has continued to ease in September amid strict government regulations to curb housing speculation.
10/20/2021 • 8 minutes, 3 seconds
What contributes to the development of China’s digital economy?
Chinese President Xi Jinping has called for efforts to ensure the sound development of the digital economy, at a time when the country is pushing for indigenous innovation.
10/19/2021 • 12 minutes, 34 seconds
Why has the gap between the rich and poor widened in the US?
Among many problems in American society today, the expanding wealth gap is particularly prominent.
10/18/2021 • 8 minutes, 47 seconds
China's GDP grows by 9.8 percent in first three quarters
China's economic growth expanded 9.8% to 82 trillion yuan, or about 13 trillion US dollars in the first three quarters of this year.
In the third quarter, the country's GDP grew 4.9% year on year, compared with the 7.9% growth in the second quarter.
10/17/2021 • 30 minutes, 8 seconds
China's September PPI hits record high
China's consumer price index rose 0.7 percent year on year in September.
Data from the National Bureau of Statistics also shows that the producer price index, or PPI, went up 10.7 percent from a year ago.