China’s $1.4tn fiscal package fails to excite
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 11 November 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Donald Trump’s election victory has sent shockwaves across the renewable energy industry, and China has announced fiscal stimulus to bail out local governments. Bitcoin hit $80,000 for the first time as cryptocurrency investors anticipate looser regulations under Trump, and Argentina’s legal battles could complicate President Javier Milei’s attempts to fix the country’s struggling economy.
Mentioned in this podcast:
Trump election victory deals blow to US clean energy industry
China unveils $1.4tn package to shore up economy
Bitcoin hits high as Trump records clean sweep of seven swing states
Litigation ‘tsunami’ breaks over Argentina’s President Javier Milei
Credit: MARA
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinoor, the UK's energy partner. Learn more at |
| 0:07.6 | equinore.com.uk. |
| 0:09.3 | Good morning from the Financial Times. Today is Monday, November 11th, and this is your FT News Briefing. |
| 0:19.9 | Donald Trump's win has jolted the renewable energy |
| 0:22.9 | sector, and China has finally announced its plans for fiscal stimulus. Plus, a bunch of lawsuits |
| 0:30.5 | could end up costing Argentina billions. And that's a very big deal because the country has |
| 0:36.2 | almost no dollars in its central bank and is in the middle of a big financial crisis. |
| 0:40.9 | I'm Kasha Bursalian, and here's the news you need to start your day. |
| 1:00.0 | Developers in renewable energy are recalibrating after the U.S. election. At least half a dozen have put projects on hold. |
| 1:04.0 | Meanwhile, investors are dumping shares. |
| 1:07.0 | They're waiting to get clarity on what sort of policies the new Trump administration will put in place. |
| 1:12.8 | When it comes to clean energy, Trump hasn't exactly minced words. |
| 1:17.0 | On the campaign trail, he promised to turbocharge oil and gas production. |
| 1:21.9 | He also said that he would repeal one of President Joe Biden's key climate policies, |
| 1:27.2 | the Inflation Reduction Act. |
| 1:29.0 | The legislation has transformed the U.S. into a top market for clean energy investment. |
| 1:34.3 | So now a lot of that could be at risk. |
| 1:43.5 | China announced a hefty $1.4 trillion fiscal stimulus package on Friday. |
| 1:50.6 | It comes on top of a bunch of monetary measures that Beijing put into action in September. |
| 1:57.2 | Now, investors have been waiting for months for this. |
| 2:00.7 | But when it finally all came down, quite a few were left disappointed. |
| 2:05.3 | Here to explain why is my colleague Joe Lay. Hey, Joe. |
... |
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