24 Burst results for "David Malpass"

"david malpass" Discussed on The World Next Week

The World Next Week

08:30 min | 1 d ago

"david malpass" Discussed on The World Next Week

"The these can be put into countries that are improving their systems and the world bank can help by working with the government identify. What kind of the kinds of changes can take place that will be beneficial so we we can help with that and let me just describe several of the things we've been trying to do in the crisis that are i think innovative. And that also helped the countries attract more resources on the private sector side. ifc has been we. We started early in in april with the idea that there was going to be a gap in trade finance and working capital. D. capital is accounts receivable financing an inventory financing short-term financing for liquidity needs by private sector firms until ifc stepped into that void with working capital and with trade finance. And they've been not rapidly ramping up though so those have helped with regard to vaccines. Ifc has helped manufacturers expand their production if they will dedicate some of that production to the developing world. So that that those are ways that you can mobilize resources from outside in order to bring in in order to bring more leverage to the up to the problem with that in the bank. We've looked at ways to have more efficiency in terms of cash. Cash programs social safety. One of the things in this in the midst of this crisis is active social safety nets where the people that are fault that have lost their jobs or their incomes. Have some means of survival in terms of in terms of money And the in the past those systems have been very inefficient in their ability to target and delivered to the people who are most vulnerable to one innovation that's occurring is digital availability of the availability of cash even to the poorest people through things like debit cards for example. Just yesterday we move forward with lebanon program. So here's the government is not not formed so strongly and is still looking for direction. But we're able to have a very broad or a quite broad program in lebanon for the for the poorest where the money is loaded onto the unto unto the debit card in And that's happening in many people. Many of you are familiar with the success. Kenya has had with its with its digital money program that operates through the telephone system rather than a banking system so it it allows a very inexpensive transaction platform. That can help more people. So we're looking to expand those broadly. We operate in brazil. In other countries that have Social safety nets to mention that. One thing i wanted to mention is The with the low for long environment it also provides opportunity for funding by the world. Bank the world bank is one of the biggest on non-government issuers of that we we issued in To in our count in our fiscal twenty twenty which ended in june ninety five billion dollars of debt of new debt and those are coming at lower and lower interest rates for example. Yesterday we announced a forty year euro-denominated bond and yield. Was i think twenty basis points And it was very well received by investors so that means that we can get long term financing and we can pass some of those benefits on to the to the borrowing country. Another innovation on the financing side is will bank has been in the forefront of the switch from libor to sofer. That's going to be the alternative Benchmark reference rate for for for floating rate financing. and that's also important because Most of the world bank's clients borrow at floating interest rates. And so it's important that we make the transition smoothly from library to the future system. So i just wanted to mention an array of things. I've left out all of the infrastructure health education all of the areas that we work in actively everyday to try to help countries not only directly meaning with the with our own resources but also with the changes in their system that invite new investment. How changing the leverage ratio is used to being the nineteen eighties. I think double and keeping aaa rated and conservative management but increasing leverage. Is that something you're thinking about. You know we just completed The capital increase the subscriptions are still coming in which we appreciate and we we are thankful to the to the shareholders or for adding equity capital To the world bank and those issues were discussed heavily in twenty seventeen twenty eighteen as far as what the leverage what the leverage would bear in terms of our so the world bank has triple a credit rating which is which is valuable from the fundraising standpoint from the funding standpoint meaning are issuance of triple a. Rated bonds is important in our ability to finance large amounts and then it it it's also allows a range of instruments for example. We were talking about miya earlier. It benefits from being backed by a triple a. Rated creditor or institution as the world bank is so your question is how how do the shareholders think about how much you could borrow. Meaning i mentioned to you that we we issued ninety billion dollars of debt last year. Could we have issued a one hundred and twenty billion dollars of debt. Last year we have constant is spoke with our chief financial officer this morning and shula can't Not about this. But i mean a regular a regular meeting. She has regular meetings with the bond rating agencies and they have a good dialogue with him. About what will the market bear in terms of issuance in order to a maximize or to to do as much as we can in our lending. So that's a dialogue that we have with shareholders. My own sense is a we have the staff. And the you know the technical ability and so onto a certain number of programs with we've ramped up very rapidly in starting in april and so were We made a commitment at the time to do one hundred and sixty billion dollars of commitments over a fifteen month period and were fully on track with that commitment. And right now. That's the that's the that's the limits of what we can do. We are exploring with donors A supplemental or an additional Ida contribution from the donors that would allow more funding to flow through the world bank. So that's an important part of our of our of our of our of our surge the surge that we're doing in lending david you know there's so much more to talk about in terms of smoothening the instead of smooth spending the money faster or as you said a lot of really interesting topics to touch on. I wanted to switch over to climate change and The bank's role In the environment area climate change. And whether you see the bank you know using the resources that you were just talking about and the increased resources that we were also talking the box to become willy. The leader on the climate's france If the back of has the longest string infrastructure in also environmental assessments. I think that twenty thirty years ago..

brazil Last year april forty year twenty thirty years ago june last year yesterday ninety billion dollars one hundred and sixty billion france twenty seventeen Ifc Yesterday one hundred and twenty billion twenty basis points fifteen month triple a. Kenya ninety five billion dollars
"david malpass" Discussed on CFR On the Record

CFR On the Record

04:11 min | 1 d ago

"david malpass" Discussed on CFR On the Record

"Cash programs social safety. One of the things in this in the midst of this crisis is active social safety nets where the people that are fault that have lost their jobs or their incomes. Have some means of survival in terms of in terms of money And the in the past those systems have been very inefficient in their ability to target and delivered to the people who are most vulnerable to one innovation that's occurring is digital availability of the availability of cash even to the poorest people through things like debit cards for example. Just yesterday we move forward with lebanon program. So here's the government is not not formed so strongly and is still looking for direction. But we're able to have a very broad or a quite broad program in lebanon for the for the poorest where the money is loaded onto the unto unto the debit card in And that's happening in many people. Many of you are familiar with the success. Kenya has had with its with its digital money program that operates through the telephone system rather than a banking system so it it allows a very inexpensive transaction platform. That can help more people. So we're looking to expand those broadly. We operate in brazil. In other countries that have Social safety nets to mention that. One thing i wanted to mention is The with the low for long environment it also provides opportunity for funding by the world. Bank the world bank has one of the biggest on non-government issuers of that we we issued in To in our count in our fiscal twenty twenty which ended in june ninety five billion dollars of debt of new debt and those are coming at lower and lower interest rates for example. Yesterday we announced a forty year euro-denominated bond and yield. Was i think twenty basis points And it was very well received by investors so that means that we can get long term financing and we can pass some of those benefits on to the to the borrowing country. Another innovation on the financing side is will bank has been in the forefront of the switch from libor to sofer. That's going to be the alternative Benchmark reference rate for for for floating rate financing. and that's also important because Most of the world bank's clients borrow at floating interest rates. And so it's important that we make the transition smoothly from library to the future system. So i just wanted to mention an array of things. I've left out all of the infrastructure health education all of the areas that we work in actively everyday to try to help countries not only directly meaning with the with our own resources but also with the changes in their system that invite new investment. How changing the leverage ratio it used to be in the nineteen eighties i think double and keeping aaa rated and conservative management but increasing leverage. Is that something. You're thinking about you know we just completed The capital increase the subscriptions are still coming in which we appreciate and we we are thankful to the to the shareholders or for adding equity capital To the world bank and those issues were discussed heavily in twenty seventeen twenty eighteen as far as what the leverage what the leverage would bear in terms of our so the world bank has triple a credit rating which is which is valuable from the fundraising standpoint from the funding standpoint meaning are issuance of triple a..

brazil yesterday june forty year Yesterday twenty basis points twenty seventeen Kenya One double eighties ninety five billion dollars twenty eighteen One thing one innovation things one lebanon nineteen twenty twenty
"david malpass" Discussed on The World Next Week

The World Next Week

09:58 min | 1 d ago

"david malpass" Discussed on The World Next Week

"Thank you so much again. Thank you so much for all of you to be here today. And i hope you all are keeping well and safe at this extraordinary times. We're very fortunate to be welcoming world. Bank president david malpass. Today's council on foreign relations meeting assignment specialized founder and ceo of rock break. I'll be presiding over today's discussion. This meeting is part of the fires. Cpt mccullough series on international economics. David doesn't need an introduction to this audience. Let me just say that is. Currently the president of the world bank group. He was nominated by president trump in two thousand nineteen. He was previously serving as under secretary of the treasury for international affairs in the tom administration and has had a number of senior positions at the us treasury in us government's on the both president bush and president reagan in addition to his government service. He has worked as chief economist at From two thousand to two thousand eight and has had Also his own economic consulting firm he has served on the boards of a number of nonprofits including the council of the americas and economic club of new york. Thank you so much david with your very busy schedule to be joining us today. You've been in washington during this last week. That has been That has seen applauding a violence and the sad loss of life. You've been very busy. Also in the last few days talking about the global economic prospects reports. That was released just last week. And i wanted to start david if i may to ask you a question. That's really on everybody's mind which is covid at covid. Nineteen pandemic of course and the global health security that it has caused with soaring infection rates with the lockdowns with the collapse in output in goods and services in credible debt issues. That you're facing everyday the country's you're working on spike in poverty and according to the reports that you have just been releasing an additional hundred seventy six million people who have gone back into extreme poverty. David the leader of the preeminent development institution. It would be great if you could tell us today. How the twelve billion vaccine financing package been spent. And what you see the role of the world bank on the next steps on the maxine front. Hello out upside at very good to be with you. And i saw the the roster of people that i want to say hello to a lot of old friends and i'm looking forward to the conversation today and i. I am missed a cf our Conversations that we that i that i participated in over the over the years so i wish everyone very very happy new year and You know good. Good luck in twenty twenty one to everybody though world bank to give you background And thanks for the question. In in april as the pandemic was hitting where we worked hard to get a programs and a lot of countries part of the response to cova needs to be the breadth of the response so we ended up with one hundred twelve operating programs to help people with their with their personal protective equipment. And other things that can respond to covid in august and september. I recognized that we needed out to have an explicit address of the vaccination process that means the therapeutics the vaccine themselves but also the systems that are needed to deliver the vaccines. The we pass that through our board in october so that was a twelve billion dollar financing window that allows countries to draw on it to purchase vaccines from manufacturers or from kovacs So it's a flexible facility with just-completed assessments now in ninety countries on their readiness to do vaccines that means assessing the cold chain. That means Helping the government. Think about how it wants to To create a fair and equitable distribution system within their country as we know from the advanced economies. It's different some countries wanna do by age. Some countries want to by profession or engagement within the society. And that's the same in the developing countries. So what will our goal has been is to help the developing countries vaccinate safely barely in massive numbers and as soon as possible. So one of the things. We're bringing to it as the urgency of getting access for countries. That don't have access i. I won't go into our we can come back to. Why is that important. But i clearly from the standpoint of both saving lives and the standpoint of the economic recovery. It's important that the world work fast to provide vaccines to broad a group of people as quickly as possible. And so we're we're actively engaged in that. I'm optimistic on the philippines for example that we can begin that Begin that program that will be good. And the way. I think about our country development goals the world bank's goals it's very much country by country were bringing together global knowledge but applying it it because each country is so different. The vaccination program in neighboring countries is is very different. And that's two of their other development goals too. So i'm thinking of our success in vaccinations. We'll be. I hope to be able to take off within a couple of months or three or four months A number of countries where we've made a difference in accelerating vaccination schedules one of the mention. I'm starting to go on of sound of. This is a really important part of of twenty twenty. One is a problem that we've encountered that we're working on. Is the indemnification process. The legal constraints on In various countries are are a challenge or the for the vaccine manufacturers. They don't wanna take the liability in the countries if it's an open ended liability and it's also it turns out to be an issue in the countries we've found that in this assessment process that the that the ministers are sometimes cautious about signing contracts so whereas there might have been a news announcement that they were entered into a contract with to get to get back scenes. You really looked at the legal documentation. It hadn't been completed so one of the things we're working on with. The countries is the and we can handhold or we can help them with technical assistance to actually get the contracts executed. So they'll get a delivery schedule set up. Let me stop there. Thank that is so important. Dated and Sort of brings me to the point as you said the country by country approach of this lease very important at the same time. For example you mentioned kovacs and working with kovacs Let's say using an institution like nigga for a sovereign risk mitigation. Because as you said longer health minister so worried about certain issues. Pharmaceuticals are worried about certain issues at the same time. We need to mitigate against sovereign risks of people may not being able to pay for the maxine. You part of the world bank. Which is nego can play such watsonville hobbies studios docs getting a roast that god the world bank's whol old multilateral walk rate closely together to get snacks teams to as many people and as you said i think very importantly in an equitable manner we were kind of daily basis with. Who with unicef with gavi where we world bank is a principal partner. And gabby in gabby is Is is Is the parent in a way or is is closely associated with kovacs which is which is a financing facility so the world bank funding that we have is available to the countries if they want to if they're able to use it to get deliveries from got from kovacs if it has the vaccines but also from From the manufacturers if that turns out to be a better channel for the access. And we're wanting we we are are are approval. Process is that the countries work with stringent regulatory authorities or on. The vaccines need to be safe. Vaccines that are that are available through the through regulatory authorities. That's an important part of the of the work so that didn't takes me so ver. Peoples background migas. The multilateral investment guarantee agency. It's one of the the five main parts of the world bank along with ibm de ida ifc and exited the the dispute settlement Organization so mega provides a traditional product is political risk guarantee guarantee.

David washington september august october today april ninety countries twelve billion three Today two thousand two david malpass david last week four months one hundred twelve operating p five main parts kovacs
World Bank approves $12B to finance virus vaccines, care

AP News Radio

00:42 sec | 3 months ago

World Bank approves $12B to finance virus vaccines, care

"The World Bank has approved a twelve billion dollar package in financing to help developing countries buy and distribute coronavirus vaccines tests and treatments the initiative aims to support the vaccination of up to one billion people the multi billion dollar fund is part of a wider World Bank group package of up to one hundred sixty billion to help developing countries fight the cobit nineteen pandemic the group's president David Malpass says the plan is to extend and expand a far struck approach to address because of the emergency so the developing countries have banned and equal access to vaccines I'm Charles Taylor this month

World Bank David Malpass Charles Taylor President Trump
World Bank approves $12B to finance virus vaccines, care

AP News Radio

00:42 sec | 3 months ago

World Bank approves $12B to finance virus vaccines, care

"The World Bank has approved a twelve billion dollar package in financing to help developing countries buy and distribute coronavirus vaccines tests and treatments the initiative aims to support the vaccination of up to one billion people the multi billion dollar fund is part of a wider World Bank group package of up to one hundred sixty billion to help developing countries fight the cobit nineteen pandemic the group's president David Malpass says the plan is to extend and expand a far struck approach to address because of the emergency so the developing countries have banned and equal access to vaccines I'm Charles Taylor this month

World Bank David Malpass Charles Taylor President Trump
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:24 min | 3 months ago

"david malpass" Discussed on Bloomberg Radio New York

"The World Bank is calling on G 20 nations to extend debt really for developing countries until the end of next year. An exclusive interview with Bloomberg President David Malpass said the situation in the world's poorest nations is likely to worsen as a pandemic continues and more should be done to prevent people from falling into poverty. It's already gotten bad that's showing up in the numbers and likely to get worse as we go into 2021 1. Notable part of this global recession is the inequality of it that in 2008, there was a great financial panic, People's stock markets and their bond portfolios and so on. But it didn't have much effect on the developing world. This one is much deeper in the developing world and likely Tio likely to deepen if there are further shutdown in the indie advanced economies. One of the things our numbers show is that the advanced economy the recession, it has actually been somewhat less severe than the estimates in June, but for the developing world The recession has been worse than what was expected in June of you excluding China, you know China's in a in a bit of a recovery phase, but the other developing countries still in a worsening recession. It's given what you're saying clap right now, and they used to be a stigma attached to asking this question, but I'm not sure there is any more. Whether the cure for this virus at the moment on the approach from developed economies is worse than the disease. Given what you're seeing plan in poor countries, you know its its hard hard for us to judge history will look back and try to assess but for the for the poorest in the world, you there A Koven is a problem, but a bigger problem for people is no jobs and increasingly this problem of foods food shortage. Scarcity as their incomes go down. One of the things that hit the developing world so hard is the Remittance has got cut off from their workers that were working outside their country that might be across the border. Or it might be in one of the advanced economies. They would be sending money back every month to their families. And that got cut off for other suddenly, another.

World Bank David Malpass Bloomberg China Tio President
Is America's debt unsustainable?

Marketplace with Kai Ryssdal

08:30 min | 1 year ago

Is America's debt unsustainable?

"Yes there. Is that big speech tonight. Up on Capitol Hill. President trump gives his state of the Union address. Democrats on one side of the Aisle Republicans of course on the other. I am town though not for that but for conversation I had this morning at the bipartisan policy. Center with Janet Yellen late of the Federal Reserve. Also David Malpass the president of the World Bank to people who keep close eye and have some thoughts on the global economy. And I started off with when I grant she was a softball question. Describe for me this this macroeconomic moment where are we thank softball slow growth but that leads to all sorts of conversation conversation we recently did our global economic prospects when moored so the bank does twice a year a thick report. I'm growth and it. It's looking looking at twenty two point. Five percent real growth some of the developing countries especially chime in a little bit India running above that average but but then the US in our forecast was consensus at one point eight percent. Europe is down at one percent only in Japan at point. Seven seven percent so they dragged down the average. So that gives you a sense of what's going on in the world that you've got to get some of the big countries going in order to get people toward prosperity Janet. Let me ask you this question. Then where are the drivers of growth. I mean if as the World Bank says the United States is going to grow at one point eight percent this year. Are we helping so growth. In the United States this year is likely to be slower earth in it was last year and the year before but likely the US economy is still going to grow at its potential or maybe even a little bit higher which in the senses all the expected especially given how tight the Labor for market is with the lowest on employment rate in fifty years so it shouldn't be surprising to see growth in the United States around two percent cent. We've had globally. We global growth is a drag on the US and the US growing slower of course is a a drag on the global economy but the driver of growth for the US and in many many more developed countries. This is true that the main driver is the consumer the US consumer is strong enough to think propel in the United States State's growth at a trend like pace which is not inappropriate given it means will continue to have a very tight labor market. Maybe it'll even tightened further but don't sorry wait. Let me just follow up really quickly. Don't you worry about consumers getting tired because it's been years now that everybody from you on down amount has been saying consumers there the thing. How much longer can that happen well? Consumer spending is in line with income growth. If if you can trust the current situation with what we saw before the crisis in the run-up to the crisis consumer spending was also the driver but it was debt-fuelled we had a lot of people using their homes like piggy banks. The saving rate had been declining to exceptionally very low levels. We've been through a very tough period in the United States in which consumers who've worked off debt and the labor market's market's been performing exceptionally well. We still have about one hundred eighty thousand jobs a month and wage gains are moderate but have picked picked up some and so don't see the consumer spending that's carrying this economy is based on very weak foundations. It's it's based on solid growth of income. I see it as sustainable dividend. I Apologize Weaving said. That's fine. Just picking up on some of those points. The misery index is way down and so that gives if you look at what drives people going forward and businesses to create a new businesses. As is people have confidence in the economy. So remember the old misery index the some of the unemployment rate and the inflation rate as the as the unemployment appointment rate has gone down the participation rate has gone up so I get all that and that's all good and I appreciate the indicators but but let me pick up on on something you said Janet which was that the US economy is growing about its potential one point eight. Maybe two percent. Is it troubling to know on that. The potential of the American economy is present It is troubling to percent I. It's something his been long anticipated so it's not an enormous surprise. Part of it reflects a slowdown in labor force growth. We have an aging population list immigration. The the second piece of it is productivity growth and it is depressing or of concern that not only in the United States but in most most developed countries were simply seeing slower productivity growth than his been the average partly I think it reflects sluggish investment spending part of it reflects slowdown in the pace of educational attainment in the United States. But most important just the pace of technological change seems like it's declined and there really is no agreement mint on the reasoning. But of course it's tremendous. It's a tremendous concern. I say this mostly just A. I guess there's probably thought bubbles out out there but it's not at all encouraging a former Fischer says I dunno truth God and we'll get back to that in a very quick topic since you both have brought it up the recession and the response the crisis next time because of course there's another recession coming. This expansion is long in the tooth although it does not As we all know died of old age corona virus I does that distress you at all in terms of global economic shock. I mean you were just in Hong Kong. You're you're feeling fine. We should say so far. You know so it's been three routes all it's quite a. Are you worried about that. I mean honestly well of course it is a potential attention influence on the global economy. It seems certain to have a significant effect at least for quarter to one Chinese growth and China's such a significant piece of the global economy. That's bound to have spillovers. Economists of look did what's happened with past episodes like the SARS virus or the mayor's virus but we don't know where this is going and I mean to. My mind is clearly a source of uncertainty and risk to the global outlook of the World Bank's position. So they'll be lowering of forecasts for at least the first as part of twenty twenty in part due to China in part due to the supply chains to give you an example. A lot of Chinese goods come out to the rest of the world in the belly of aircraft that are carrying passengers so as you cut down on passenger flights you need to adjust the supply chains in in order to get the goods out to make the products that the whole world economy is operating on a positive side that I bring out is the different science science. That's available this time then. The SARS SARS was two thousand to two thousand and three China released the virus this time and quickly released the virus so we have some hope that science response will shorten the full life cycle of this crisis. It's also true though that China's more integrated into the global economy. So that's you know. The transmission vector completely different correct. Devin malpass there. The president of the World Bank. Also Janet Yellen Ellen at mead past chair of the Federal

United States World Bank China Janet Yellen President Trump David Malpass Federal Reserve Softball Union Janet Yellen Ellen Europe Devin Malpass United States State Hong Kong
"david malpass" Discussed on CATS Roundtable

CATS Roundtable

10:58 min | 1 year ago

"david malpass" Discussed on CATS Roundtable

"Good Morning America. This is the cats roundtable John Catch Matiz here. Send me more on what's going on in the world economy. We have a special special guests with us this morning. We have David Malpass. WHO's president of the World Bank must now pass has been the now the thirteenth president of the World Bank and previously Under Secretary for the Treasury of International Affairs Good Morning Mister Malpass? How are you this morning? I Don Good Morning. I'm doing just fine. Thanks now explained to all Americans. <hes> it sounds great to World Bank but most Americans don't I don't know about the World Bank and what it does <hes> founded in after World War Two and the idea was to help rebuild Europe <hes> and then it gradually <hes> moved into development <hes> for for worldwide in in fact one of the early loans was Chilean about nineteen forty eight but in recent years it's linked to <hes> countries <hes> around the world we have offices in we lend at <hes> as countries do both projects such as as <hes> road systems zoar or <hes> or drainage systems <hes> but also directly to governments for if they're improving their systems so that might it'd be their health system for example or their education system now. What is your annual budget how much money you lend out yeah? The the commitment Scott come to came to sixty billion dollars in F Y nineteen we just completed the fiscal year on June thirtieth breath and so we'll be looking into a new year the reason it can be large is donors are the end owners have been generous in contributing and and stop buying capital in the World Bank. The U._S. is the biggest donor and the most generous and the biggest contributor <hes> other contributors major <hes> <music> authors and contributors include Japan China France Germany U._K. The U._K. is one of the biggest <hes> each year so oh it's mostly the G. seven or percentage of it is a seven of the of the capital that becomes available. The Lion I insurance g seven countries around the world and many of the smaller European countries are are big contributors. The Nordic countries for example are are our <hes> our large contributors but in reality countries around the world <hes> make contributions because they they want to see <hes> they want to see themselves and other countries do well. Does the money come back someday or was it a one way street. Most of the <hes> most commitments are are loans. <hes> some of them are grants for example of the sixty billion that I mentioned for this year <hes> <hes> <hes> five billion dollars of it was in grants <hes> and so that won't come back but most of the rest will come back over time the goal is to get good outcomes for countries so the bank works actively in many countries but right now Ethiopia <hes> in Kenya Ghana Cote d'Ivoire in Latin America <hes> there's there's a growing program in El Salvador and so on around the world <hes> of the sixty billion. Where's the focus is <hes> Africa or South America or Europe ways the real focus? It's really spread around the developing world so it's it's it's not Europe <hes> but it <hes> and it's not Russia. It's not <hes> Iran it. It is <hes> countries that are that are part of the international system in trying to grow <hes>. One of the controversial countries is China it historically Arkley has been a borrower large borrower from the World Bank. Now our relationship with them is evolving <hes> so the and meaning the lending by the World Bank China is is declining <hes> China has asked that there be a continued presence to help think about <HES> <hes> public goods that means for example <hes> environmental <hes> lending ocean plastics is one of the big problems the world faces in China <hes> puts out a lot of plastic through <hes> through river systems that can be improved substantially so that's one area. We're working with China on if you're going to tell if you're sitting down to dinner with some Americans know very little about the World Bank and tell us what you would say to them <hes> it's <hes> it's an institution that grew up in the in the time after World War Two that has evolved oft with the with the challenges that the world faces particularly in terms of poverty in terms of <hes> of very poor countries <hes> the bank makes a difference in trying to help those countries <hes> improve their system and also the survivability for for people people for example we just last week made a <hes> a loan and grant into the Ebola area. That's the that's the very dangerous epidemic <hes> going on in the Democratic Republic of Congo right in the middle <hes> in in the middle of Africa Africa and it's spreading and so the bank can <hes> has <hes> have people that that make the a that try to help get aid to health workers that are on the front line the the workers that are actually trying to segregate or identify the victims of Ebola and keep it from spreading. What is the state of the world economy endure you deal with the whole world <hes> what parts of the world are doing better a wick which parts doing voice we noticed that last week interest rates went down in the United States? It's ten year Treasury Bills Falling <hes> again you have your evaluation of the world economy. The bank does some forecasting casting so the for the forecast in June was for world growth to slow to two point six percent in twenty nineteen that and to put that in perspective respective population growth is probably almost that much and so it means the world's not really moving forward in on average you know Oh that's the that lumps together lots of different countries so as we look at it the U._S. <hes> continues to grow pretty well. <hes> <hes> the Europe has slowed substantially <hes> China is slowing some from the fast level. It's still growing fast but but slower than before and so one one of the challenges for the developing world is with Europe being quite slow <hes> that takes away some of the opportunities for them in addition Russian their own policies are not very strong and so. I don't want to generalize you you know it's case by case but the the investment and <hes> numbers for the developing world aren't strong enough to show future growth. You can't grow if you're not building things and investing and and and and improving the health of your people and in general or in some of the major countries that's just not improving at a <hes> ah in a way that will that will that will pay a good future China lending money on its own not through the World Bank on its own two countries which the idea of of foreclosing owning assets China's making has been making loans in many parts of the developing world so in in Africa in Central Asia. One part of their lending program is called the B._R._I. Belt and road initiative or used to be called one belt one road meeting it started started in China and went <hes> went westward around the world and it's a challenge because the the lending hasn't been transparent <hes> and so and the quality of some of the projects hasn't worked out well for the borrowing country they they take on a loan and they end up with a project that doesn't work very well or is in complete and so one of the things that the world is trying to do is bring China into better practices. It's it's okay for China to want to be engaged in other parts of the world but the question is to make that beneficial to those borrowing countries. That's what the U the World Bank wants to do that. When we lind two countries we want the country to be better off <hes> the U._S? Certainly does that from my from my past experience with that government <hes> and so we would be <hes>. It's it's it's a challenge for China to find better program so that they can lynn constructively I I think they're trying to evolve that system them. It poses challenges within their own within their own governmental system to get the data to <hes> <hes> set the standards that will it'd be higher. We have a minute left. What else would you like to tell the American people thanks down <hes> well? Let's stay on this debt. <hes> <hes> the debt issue. It's important for governments to find a way to spend money effectively and that is actually a universal problem whether in the U._S. or in Europe are are in <hes> <hes> for China <hes> and and that poses what what we are trying to do is encourage it much more transparent system. We're you know how big your debt is. That's the starting point for getting a handle on it and I think that's critical for future. Growth Understood David mouth past the you're the thirteenth president of the World Bank congratulations. You have served other <hes> Ronald Reagan under George H W Bush and now under president trump thank you for your service to our country into the world thank you John. This is the.

World Bank China Europe World Bank China Africa Mister Malpass president Japan China France Germany John Catch Matiz Iran Democratic Republic of Congo Under Secretary Ethiopia Russia Ronald Reagan
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:11 min | 2 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Senior treasury official David Malpass and coming up for its president of global operations. This is Bloomberg. With a Bloomberg small business report, I'm John Tucker. Medics is a seventeen employees startup in Israel. That's changing the way surgeons operate this small company manufacturers X vision, and augmented reality headset the surgeon wears that superimposes CAT scans and other images over a patient's body. It helps the surgeons map and operation without looking away. The system uses a reference market to align images giving the surgeon the illusion appearing into the patient's body separate markers attached to the handles of surgical instruments. Help update the augmented reality view in real time. Nissan, Ellen the company's CEO will working as a sales reprimand trophic. He saw the need for surgical navigation system that doctors could use while keeping your eyes of the patient. He says he expects the US food and Drug administration to clear vision for spinal surgery sometime this year. And that's the Bloomberg small business report. This is a Bloomberg market minute anxiety over the trade war with China was among the things that rattled investors. Concerns are also building about the deadline for heading off another government shutdown stocks closed lower. The key index has had losses ranging from nine tenths percent to one point two percent. The judge overseeing Sears, bankruptcy has cleared. The way for Eddie Lampard's five point two billion dollar deal to acquire the chain and keep it going. A software update is now available from apple to fix the recently discovered. Bug that let's FaceTime video chat users eavesdrop on other users. The update can be installed on iphones and other apple devices mortgage money is cheaper this week, Freddie, MAC says the average interest rate on a thirty year fixed rate home loan has fallen to four point forty one percent, a ten month low, but tap the equity in your home, and it will cost you bankratEcom reports. The average interest rate on a home equity line of credit is up to nearly six point eight percent. And eleven year. Hi, Jeff Bellinger, Bloomberg radio. Are.

Bloomberg apple David Malpass Jeff Bellinger Eddie Lampard John Tucker treasury Sears president Israel US Nissan official CEO Drug administration Ellen
"david malpass" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:07 min | 2 years ago

"david malpass" Discussed on WNYC 93.9 FM

"On Monday night. The Trump administration announced that the president will tap David Malpass as the next leader of the World Bank. As with many of Trump's appointees this nomination is generating its fair share of controversy due in large part to Malpass previous criticisms of the global institution. Josh zoom. Brune is an economics reporter for the Wall Street Journal, and he's been following the nomination. Josh. How's it going? It's going great. Thanks so much for having me. Absolutely. So before we dig into Malpass remind us what is the World Bank's role on the global stage. Can you explain to us the World Bank's a really interesting institution? It was I set up by the allies at the end of World War Two and its purpose is to take money from the world's wealthier countries. And it puts them into loans that go to some of the world's poorer and developing countries. So it funds projects, you know, roads rails infrastructure projects ports things like that. It can also do health projects public education projects any anytime. A government needs financing for these kinds of basic economic development projects the World Bank is kind of the biggest institution that it can turn to and who is David Malpass David Malpass who the Trump administration kind of announced on Wednesday. They're putting forward for this job is the current undersecretary at the treasury for international affairs. That means he's the top person on international issues. The treasury department here in the US he was an adviser to Trump's campaign. He was on his economic advisory committee, and he's been at the treasury since very early on in the administration that seems like a job that would put you in place to get a position like this. But there there are folks coming out against his nomination. Can you explain some of their concerns about him if he were to lead the World Bank? Yeah. That's right on the one hand he's been working on issues like this for the past two years. He's gotten to know a lot of the relevant people who have kind of the same function that he does and other countries people who are decision makers when their countries vote the World Bank. But he's also been in a position where he's been the guy who's had to make. He's been the guy who's had to discuss the administration's policy for the World Bank, which is sometimes been very critical. So a lot of the world is kind of taking note that one of the institution's biggest critics is the person who's been picked to lead. It. What have his criticisms of the World Bank? Ben, well, they've been a handful one of them has been that the institution has continued to. Lend too much money to China. This is kinda gotten pulled into the overall tensions that the United States has China. If you think back twenty years ago, China was still a much poorer country and made a lot of sense that you are working to help them develop rails, and and infrastructure projects and things of that nature. You know, you fast forward today too much richer country. And so he's raised the question of whether this is a country that still needs the support of the World Bank. He's criticized other things at the main to, you know, questioning their business model the Bank last year had to raise more money from it's kind of donor countries around the world, and he was someone who was skeptical that they needed those funds, and he's criticized level of salaries at the Bank and just kind of a whole range of criticisms. They have made a lot of people that work at the Bank a little bit wary of his nomination. So how are these appointments typically made the US gets to pick the president of the World Bank? This is really interesting. There's no formal rule about this. But by tradition. The Americans have always. Put forward to candidate. So the way it works is all the countries that donate to the World Bank have voting power at the Bank. The US has the most voting power of any country that has about sixteen percent. So that's a lot. But it's not enough to automatically make every decision on its own. You know, the European Union, for example, if you put all the countries in the European Union together they have about twenty six percent of the vote. And so it's always been a tradition that the rest of the world has gone along with that the Americans put forward to candidate and everybody else around the world supports him. But that's why it's such an interesting moment right now, the US has put forward someone who's been such a critic of this institution. And so there's kind of a question of whether or not the rest of the world is still going to feel compelled to go along with it. It's kind of a test of American leadership in a situation where.

World Bank David Malpass Trump United States treasury Brune president Wall Street Journal Ben Josh China European Union reporter undersecretary twenty six percent sixteen percent
"david malpass" Discussed on KHVH 830AM

KHVH 830AM

03:29 min | 2 years ago

"david malpass" Discussed on KHVH 830AM

"Hundred. Fox news. I'm rich Denison. The house intelligence committee now controlled by Democrats voting today to send dozens of transcripts from its Russia investigation to the special counsel committee chairman Adam Schiff says the committee will reopen parts of the Russia investigation closed last year by Republicans and expand the scope beyond Russia to include allegations of financial interests driving. The citizens of the administration Republicans say Democrats should vote to publish all the unclassified transcript. Fox's Jared Halpern on Capitol Hill secretary of state, Mike Pompeo says ISIS has been pushed back significantly. But there's still work to do. The recent suicide bombing in mon- incident shows that ISIS remains a dangerous threat in territory. It does not control on Paola speaking to a global coalition to defeat ISIS. President Trump today announcing treasury undersecretary David Malpass says the next president of the World Bank. This is Fox News. Indepth theft. Eight on the state of Hawaii. This is civil beat when Chad Blair on NewsRadio eight thirty K H VH. Good morning. This is champ. With today's report from civil v dot org for Hawaii agriculture to successfully transition from its pineapple and sugar plantation passed to a future locally produced food plays a bigger role in the diet. Governor David Ige gay believes both small and large farms must play a part that could include massive greenhouses at Costco is considering for the islands and expansion of small operations like cow Hamano organic farm and cafe in line. I recently doubled its production in a single year since taking office twenty fourteen gas talked about doubling food production statewide by twenty twenty to help achieve that goal. Governor's budget requests for the next two years includes twelve point five million and egg loan money to support new and existing farms and another twelve point five million to maintain irrigation systems. State senators are considering using their subpoena power to compel testimony regarding one of governor David Ige as cabinet members to governor renominated Nolan spend for a second term director of the State Department of public safety concerns about spenders management of public safety, which includes overseeing the state's for jails and four prisons has raised concerns about whether the senators are able to learn the facts, but what does it occurred during the four years, he has been director Senator Clarence tissue. Hara share of the public safety committee said he had not yet made a decision on whether to subpoena potential testify. Here's he said issuing subpoenas is rare, but Senator bean hurry Moto, another member of the public safety committee said he thinks Pena's may be necessary in the case of the spindle and finally to house bills look to increase voter participation in a state that often has one of the lowest turnout rates in the nation. Well, they're alive and well at the state house house Bill fifteen eighty eight. Would open up primaries to allow voting for any candidate in partisan races. Right now voters must choose the primary ballot of the single political party and since the Democratic Party dominates. The state many races are effectively decided in primaries. Withdraw fewer voters in general elections. Another Bill house Bill fifteen eighty nine might solve that problem. The measure would have the top two vocab in primary elections compete in a runoff in the.

Governor David Ige ISIS house intelligence committee Fox News Hawaii Russia Senator Clarence tissue Adam Schiff governor renominated Nolan Denison David Malpass State Department of public Mike Pompeo President Trump Costco Senator bean theft
Trump to choose Treasury's Malpass to lead World Bank

Morning Edition

01:45 min | 2 years ago

Trump to choose Treasury's Malpass to lead World Bank

"York, President Trump has decided on who he'd like to head the World Bank. A critic of the Bank, David Malpass this according to Reuters and other published reports marketplace's Nancy Marshall Ganz on the line from Washington. Nancy good morning and who's Mr. Malpas. Well, right now, he's under secretary for international affairs at the treasury department. He used to be chief economist at Bear Stearns before its collapse in the financial crisis. He's generally skeptical of. The international institutions for one thing. He for one thing he says the World Bank's should stop lending money to China because he says China is now wealthy enough to stand on its own. He says China doesn't need low interest World Bank loans. He also thinks salaries at the World Bank or too high. And given that we will we expect him to do at the Bank itself. Well, he apparently wants the World Bank to focus more of its lending on the poorest developing countries over the past few years when the World Bank asked its member countries for more money map is initially argue against increasing the US contribution the treasury department did end up agreeing to the increase, but only after the World Bank promised to cut back on lending to China and start to rain in salaries and Nancy short answer for us. What is the World Bank? Good question. It is an international Bank that provides low interest loans and grants to poorer countries. One of its goals is ending poverty with no more than three percent of the world's population living unless than a dollar ninety day by the end of the decade. Now, the US has traditionally chosen the president of the World Bank. But mouse would need to be approved by the bank's executive board. And he could face some

World Bank Chief Economist Nancy Marshall Ganz China Treasury Department President Trump David Malpass United States Reuters Bear Stearns York Washington Executive Under Secretary Three Percent Ninety Day
"david malpass" Discussed on News Radio 920 AM

News Radio 920 AM

04:54 min | 2 years ago

"david malpass" Discussed on News Radio 920 AM

"The big stories in the market Adam thanks for coming on Berry thanks for having me and by the way welcome. Back, from vacation mind starts Lucky, you I. Got I got mine and now it's time for you. To get yours I guess so it's what's talk a, little bit about WalMart, here we, were talking about him a little bit earlier today but for a company this size this is. About as good of, an earnings report is, you can get it seems like Now my best failed a year and a half percent and there's so much that we, could talk about. Here from brick and mortar is not dead to, air pivot. Court groceries and buying jet dot com for deliveries I. Mean all that was very good but I think the, single most important takeaway, from the, report guy is the fact that it more evident tax cut are percolating through the economy You know we cut people's taxes they have more to the average American data five percent raise and WalMart were they shop More, than anybody else so much more than Amazon in America shop so when you see. WalMart rise the most in ten years that direct relation or direct. Reflection of tax cuts at the wonderful wonderful door Adam so that's one of the big stories that's moving things upward today the other one. Is the news that China in, the US are going to. Be, resuming trade negotiations prior to the end of the month so within the next two weeks we're going to have that I, I'm somewhat skeptical on these just because I feel. Like we've, we've seen the store. Before and have an ad progress made but, I'm curious what your thoughts. Are on it Yeah This is hitting quite, deserves but Really Hear what the headline from, the you, know you look in the mirror, time, negotiations, resume, dot dot, dot really low. Level it's not actually a low. Level. Okay because it's not the Treasury Secretary for the, commerce secretary. Himself people interpreted the low level it David. Malpass David Malpass is the under secretary of the. Treasury I actually know David Malpass very well I, sat down. With him a number of time and he's. The former economist from Euboea extremely thoughtful and here's. The key is very very close like They talk every clothes who Larry cudlow who is. President Trump economic advisor in the. White House these quote committed Trump himself I don't think people realize the fact that David Malpass is leading spearheading. Meet negotiation is important as it. Is I think that he Kudlow and Trump are going to. Have all their talking points in line and and effectively now pack is the Trump messenger it's not a low level thing is a back door thing I think the goal is to try. To figure out how to a help the Chinese space. And make it, look like. Trump got a victory and. That has to happen behind the scenes they need to make it a at those low. Level but trust me it's not it's a really, big deal Adam are the Chinese incentive to get. Something done soon as in before, the midterm elections Oh my gosh, yeah there. Is a school of thought. That says if they wait until the midterm election Trump Mike it weekend if he loses Right The way the generic ballot is starting to move in your favor and all of a sudden now they've played double jeopardy. Law the fact is the Chinese stock market has fallen twenty five. Percent they have a real problem in China right. Now they're having to lead the Bank with liquidity to try to make up for the fact that failed abroad are struggling to keep. Up it's also one of the reasons why the Chinese wanted, ball so, precipitously the Chinese at admit that they need a, deal but they really. Do Adam are as a country in the United, States I assume is the biggest customer of the Chinese France doesn't by more than. US Britain doesn't by more than. Us we are China's biggest company. Customer we not, well if you look at the EU as a, whole it's pretty close and depending upon how you wanna that you might actually say you lately larger, customer but that's a combination of countries that, that's you, know there's, countries but, yeah as far as a single. Country, oh. Yeah no, one, no No, one. Else even, come Has been with Trump point They need us. More than we. Need them I'm not sure, I necessarily agree, with that but you. Know I, get my portfolio I mean I'm long Alibaba at apple On John Deere and, co you, know I think actually we're going to get a very positive announcement on Mexico and they're gonna use basket four candidates at the. Table, also we've.

Trump Adam David Malpass China WalMart Chinese France Berry Amazon US under secretary Euboea Larry cudlow Alibaba John Deere America White House
Elon Musk, SEC and Harvey Pitt discussed on Bloomberg Best

Bloomberg Best

00:18 sec | 2 years ago

Elon Musk, SEC and Harvey Pitt discussed on Bloomberg Best

"I'm Bryan Curtis in San Francisco let's get you, this hour's top business stories and the markets China says vice commerce, minister one show one will be traveling. To the United States for trade talks later this month it would be the first official exchange since earlier negotiations, broke

Elon Musk SEC Harvey Pitt United States San Francisco Chairman China Treasury Bryan Curtis Bloomberg David Malpass Brian Curtis Undersecretary Hang Seng Tesla Twitter Francisco Official CEO Five Percent
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:52 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Anchored in place and expectations and in fact the prevailing view in the profession was that we should actually allow inflation to rise in order to get the unemployment look lower we're now in a very and we learned that that was a huge mistake we're now in an environment where central banks in and the fed is included have actually stressed how important it is tanker inflation expectations and you can see this is why they discuss inflation expectations all the time and actually that they're quite well anchored in that kind of environment the likelihood of getting this elbow of this very sharp acceleration of inflation is much much much less and indeed that that that it might textbook for example i have whole discussion of why things are very different when you actually anchor inflation expectations so i think that this concern and comparing us to the sixties is not quite right because of this very different environment where central banks now understand that their primary activity is to actually control inflation and also anchor inflation expectations weekly something like an inflation target that was former fed governor rick michigan speaking with bloomberg's scarlet fu and joe weisenthal coming up david malpass discusses us china economic ties you can see all the bloomberg best stories at best go this is bloomberg market experts when i grow up i wanna be a new pair of blue jeans suenaga grow up i wanna be a kid's first computer warm fleece on our football team bike that races around the country i wanna be bench on a forest trail when i grow up i don't wanna be a piece of garbage and if you recycle me i won't be give your garbage another life recycle learn how at i want to be recycled dot org brought to you by keep america beautiful.

fed bloomberg rick michigan joe weisenthal david malpass football america
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:36 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"So china's provision of subsidized finance for over capacity is of grave concern to workers around the world including american workers and that's the focus that the president has had on need for the us to be producing steel and aluminum and so that's something that the world needs to work on we work with with other countries on many forum for in order to try to get china back to a market orientation or forward to a market orientation that includes the paris club china's not a member export credit agencies where china is using subsidized nontransparent finance and above all china's own policies where there's not a reciprocity of their market oriented of their markets they don't allow other countries to operate in china the way they're allowed to operate abroad and that ends up with this imbalance balance that the us is having to deal with that was david malpass under secretary for international affairs of the us treasury speaking with bloomberg's michael mckee coming up linda mcmahon explains how she spurring small business development across the country you can see all the bloomberg best stories at best go this is bloomberg it only takes a minute to find out if you may have prediabetes and you can do it at do i have prediabetes dot org but you're probably not going to.

china president us david malpass bloomberg michael mckee linda mcmahon paris under secretary treasury
Carles Puigdemont, fugitive ex-Catalan leader, detained by German police

02:28 min | 3 years ago

Carles Puigdemont, fugitive ex-Catalan leader, detained by German police

"Sunday mnuchin said we expect to sign that agreement soon the uk government will direct facebook google twitter and other tech companies to simplify their data management policies for consumers this after disclosures about recent breaches and all that according to the sunday times matt hancock the uk digital culture and media secretary told the newspaper that those digital powerhouses were failing to provide users with clear and concise terms and conditions for how personal data is used his goal is to get the information onto one page police detained former catalan president carl's pushed him on as he crossed into germany from denmark his lawyer said today puji demont was attempt to return to belgium after a visit to finland a spanish supreme court judge on friday reactivated an international arrest warrant for puigdemont who fled to belgium in october he faces charges of rebellion for holding an illegal referendum and seeking to split from spain people familiar with the matter say uber technologies has reached an agreement to sell its southeast asian ride hailing business to rival grab the people said the agreement which includes all of uber's operations in southeast asia as well as it's in the region gives uber a stake of between twenty five and thirty percent in the new combined business the deal marks uber's operational exit from yet another major market after selling its business in china and russia global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg bloomberg best bloomberg best is about the insight and the context we get from our guests it's a great way to catch up on some of the stories you might have missed on the bloomberg stories you're not going to find in any other news organization bloomberg best bloomberg's best stories of the week powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world i'm ed baxter on this edition of bloomberg best david malpass discusses us economic ties with china markets are simply not reciprocal in the sense that there's not an ability for other countries to work in china the way china works elsewhere plus epa administrator scott pruitt discusses california's role in setting automotive emissions regulations california is not.

Bloomberg Administrator EPA Spain Finland Belgium Germany President Trump UK California Scott Pruitt David Malpass Ed Baxter Mnuchin Susanna Palmer Russia China Asia
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Provision of subsidized finance for over capacity is of grave concern to workers around the world including american workers and that's the focus that the president has had on the need for the us to be producing steel and aluminum and so that's something that the world needs to work on we work with with other countries on many forum for in order to try to get china back to a market orientation or forward to a market orientation in that includes the paris club china's not a member export credit agencies where china is using subsidized nontransparent finance and above all china's own policies where there's not a reciprocity of their market oriented of their markets they don't allow other countries to operate in china the way they're allowed to operate abroad and that ends up with this imbalance that the us is having to deal with that was david malpass under secretary for international affairs at the us treasury speaking with bloomberg's michael mckee coming up linda mcmahon explains how she spurring small business development across the country you can see all the bloomberg best stories at best go this is bloomberg it only takes a minute to find out if you may have prediabetes and you can do it at do i have prediabetes dot org but you're probably not going to.

president us china david malpass bloomberg michael mckee linda mcmahon paris under secretary treasury
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:30 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Anchored inflation expectations and in fact the prevailing view in the profession was that we should actually allow inflation to rise in order to get the unemployment look lower we're now in a very and we learned that that was a huge mistake we're now in an environment where central banks and the fed is included have actually stressed how important it is tanker inflation expectations and you can see this is why they discuss inflation expectations all the time and actually say that they're quite well anchored in that kind of environment the likelihood of getting this elbow of hysteria short acceleration of inflation is much much much less and indeed that that that might textbook for example i have whole discussion of why things are very different when you actually anchor inflation expectations so i think that this concern and comparing us to the sixties is not quite right because of this very different environment where central banks now understand that their primary activity is to actually control inflation and also anchorage inflation expectations speaking with something like an inflation target that was former fed governor rick michigan speaking with bloomberg's scarlet fu and joe weisenthal coming up david malpass discusses us china economic ties you can see all the bloomberg best stories at best go this is bloomberg what's the most important at massage envy we help runners run golfers drive and mom's glow we want everybody to be the best they can.

fed bloomberg rick michigan joe weisenthal david malpass
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Provision of subsidized finance for over capacity is of grave concern to workers around the world including american workers and that's the focus that the president has had on need for the us to be producing steel and aluminum and so that's something that the world needs to work on we work with with other countries on many forum for in order to try to get china back to a market orientation or forward to a market orientation that includes the paris club china's not a member export credit agencies where china is using subsidized nontransparent finance and above all china's own policies where there's not a reciprocity of their market oriented of their markets they don't allow other countries to operate in china the way they're allowed to operate abroad and that ends up with this imbalance that the us is having to deal with that was david malpass under secretary for international affairs at the us treasury speaking with bloomberg's michael mckee coming up linda mcmahon explains how she spurring small business development across the country you can see all the bloomberg best stories at best go this is bloomberg it only takes a minute to find out if you may have prediabetes and you can do it at do i have prediabetes dot org but you're probably not going to.

president us china david malpass bloomberg michael mckee linda mcmahon paris under secretary treasury
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:33 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Provision of subsidized finance for over capacity is of grave concern to workers around the world including american workers and that's the focus that the president has had on the need for the us to be producing steel and aluminum and so that's something that the world needs to work on we work with with other countries on many forum for in order to try to get china back to a market orientation or forward to a market orientation in that includes the paris club china's not a member export credit agencies where china is using subsidized nontransparent finance and above all china's own policies where there's not a reciprocity of their market oriented of their markets they don't allow other countries to operate in china the way they're allowed to operate abroad and that ends up with this imbalance that the us is having to deal with that was david malpass under secretary for international affairs at the us treasury speaking with bloomberg's michael mckee coming up linda mcmahon explains how she spurring small business development across the country you can see all the bloomberg best stories at best go this is bloomberg it only takes a minute to find out if you may have prediabetes and you can do it at do i have prediabetes dot org but you're probably not going to.

president us china david malpass bloomberg michael mckee linda mcmahon paris under secretary treasury
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:21 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"To hayes out at uk claims that his regime was behind the spy poisoning in salisbury as quite drivel rubbish and nonsense of course any person with any brains understands that it's complete nonsense that russia would carry on with that type of attack just before an election and the world cup in football it's ridiculous meanwhile the russian president says that he is willing to work with british authorities to establish the facts behind the nerve agent at tight on sergei scruple chemical weapons experts will travel to the uk later to start an international investigation and of course when it comes to the russian election we'll be live in moscow a little bit later on in the program to give you all of the latest details including the turnout which was seen as key really from the kremlin's perspective at least meanwhile in china the national people's congress voted today to approve ye gone to run its central bank bloomberg's tom mackenzie has more now from beijing the appointments of egon china's central bank governors signals continuity he's been the deputy governor for the last ten years and has helped push through gradual reforms he faces key challenges though including how to cap debt without derailing growth other policymakers named to posts include a new vice president one she shan and a new finance minister unsurprisingly president xi jinping ping was confirmed for a second term in beijing tom mackenzie bloomberg daybreak europe meanwhile g twenty finance ministers and central bank governors gathered in breda's ariz foam today bloomberg's michael mckee has the preview treasury secretary mnuchin will get a chilly reception here in wayne is irish president trump steel and aluminum tariffs are very unpopular with the other members of the g twenty bloomberg obtained a draft of the ministers communique it notes countries turning inward is the biggest threat to global growth treasury officials hope they can turn the focus of the meeting to china's trade practices which they say is the real motivation for the tariffs they say global cooperation is needed to change chinese behavior while many here agree it's a goal perhaps made more difficult by the steel tariffs and trump is on the verge of starting a trade war in winners iris michael mckee bloomberg daybreak europe well then the us treasury official david malpass is actually out that g twenty summit had to roll back some of the.

michael mckee official trump treasury europe finance minister beijing moscow hayes david malpass us mnuchin salisbury breda vice president egon china
Washington DC Cherry Blossom Festival Delayed

02:23 min | 3 years ago

Washington DC Cherry Blossom Festival Delayed

"Eighteen year old louis is a bit of a clean freak whatever he has his hands full of food like tomatoes other snacks he walks upright like a human in order to keep his food and his hands clean rather than the typical gorilla which leans forward on his knuckles michael stern a curator of primates and small mammals at the zoo said workers had to install a fire hose over a mud puddle in the yard the nearly five hundred pound six foot tall primate crosses like a tight rope in order to avoid getting dirty i'm john stolnis the start of the twentieth eighteen national cherry blossom festival in washington dc is being pushed back organizers say they're moving the date to march twentyfifth because the march for our lives rally as expecting big crowds on the twenty fourth the national park service has the peak bloom of the cherry blossoms is expected to begin on march twenty seven i'm ann cates and i'm susanna palmer from bloomberg world headquarters the wall street journal reports china has named ye gang deputy governor at the people's bank of china to run at central bank ye would replace joe show chuan who steered the institution through the global financial crisis overhauled monetary policy tools and oversaw the allocation of the one to reserve currency status during his record fifteen year term a top treasury department officials said today that the trump administration ended decade old economic talks with china because it believes china is moving backward on opening its markets to foreign competition david malpass treasury's undersecretary for international affairs said the administration is disappointed with china's reversal from market liberalisation treasury secretary steven mnuchin faces a potentially cool reception tomorrow from global policymakers who are upset at president donald trump's steep tariffs on steel and aluminum imports the group of twenty summit of finance ministers and central bankers will convene this week in buenos aires a federal appeals court has thrown out a three year old rule to limit the number of robocalls we hear more on that from bloomberg joan doniger a unanimous opinion from the federal appeals court in washington dc role the federal communications commission's 2015 rule was too broad the court says the regulation could subject ordinary calls from any conventional smartphone to coverage under rules barring junk calls the rule was passed under democratic leadership of the fcc in the.

Federal Communications Commiss Washington Bloomberg Buenos Aires Donald Trump JOE Bank Of China Wall Street Journal Bloomberg World John Stolnis Louis Joan Doniger President Trump Steven Mnuchin Undersecretary David Malpass Treasury
"david malpass" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:00 min | 3 years ago

"david malpass" Discussed on Bloomberg Radio New York

"Forecasters have released a three month outlook just days ahead of the first day of spring no different than any other year spring will bring generally warmer temperatures but richard bond with the nation's weather prediction center tells us some places are likely to be warmer than usual climatologist look at the large scale hemispheric flow parents they saw the chances of temperatures being above normal across really the southern half united states and then in the eastern third california is also expected to be drier than usual worrisome where wildfires are concerned but von also explains in the event any of these regions get a big rainstorm or snowstorm that doesn't mean the climatologists are wrong they're just trying to give us the tip of the hat are the signals air for a warmer than normal or below normal spring jan johnson spring or not widespread rain and snow forecast for the rockies in southern plains today from new mexico northward to montana i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters the wall street journal reports china has named ye gang deputy governor at the people's bank of china to run at central back yea would replace joshi coach thuan who steered the institution through the global financial crisis overhauled monetary policy tools and oversaw the allegation of the one to reserve currency status during his record fifteen year term the trump administration ended decade old economic talks with china because it believes china is moving backward on opening its markets to foreign competition david malpass treasury's undersecretary for international affairs said the administration believes there wasn't a path back toward a market orientation in china so formal talks would not be held but he said communication isn't cut off treasury secretary steven mnuchin has frequent private talks with senior level officials in china to try to bring back focus to free market capitalism a facebook post is pushing.

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