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World Business Report: First broadcast 15/08/2022 14:32 GMT : Is China's economy in trouble?

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Is China's economy in trouble?

First broadcast 15/08/2022 14:32 GMT 

First broadcast 15/08/2022 14:32 GMT : Is China's economy in trouble?

BBC World Service - World Business Report, Is China's economy in trouble?

China cuts its benchmark interest rate to 2.75%.

China has cut its benchmark interest rate by one tenth of a percentage point to 2.75%.

China has cut its benchmark interest rate by a tenth of one percent which Craig Botham, Chief economist at Pantheon Macroeconomics explains why this is being seen as a further sign that China's economy could be in trouble. 

State-owned Aramco announced record profits of nearly 50 billion US dollars for the second three-month period of this year. It comes as Russia's invasion of Ukraine has led to oil and gas prices trending much higher. Our correspondent Sameer Hashmi joins us live from Dubai.  

It's exactly a year today since the Afghan capital Kabul fell to Taliban forces, marking the end of a 20 year experiment in western-style liberal democracy in the country. Since then the economy has collapsed, throwing tens of millions of people into abject poverty.  

Former Afghan finance minister, Khaled Payenda ran the finance ministry for the last six months of democratic rule right up to August of last year, he speaks to World Business Report’s Ed Butler.    

Thailand’s economy has expanded at the fastest pace in a year, following the recent easing of Covid restrictions. Bruce Haxton runs tuk tuk tours, he speaks to us from Chiang Mai about how business has been for him. 

(Picture: LIANYUNGANG, CHINA - AUGUST 10, 2022 - Large machinery lifts containers to international freight trains at the China-Kazakhstan Logistics base in Lianyungang, Jiangsu province, China, Aug 10, 2022. Picture Credit: Getty Images).

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