This is Exchanges of Goldman Sachs, where we discuss developments currently shaping markets, industries, and the global economy.

I'm Jake Seward, Global Head of Corporate Communications here at the firm.

Today we'll be talking about carbonomics and the future of energy with Michaela Delavinia of Goldman Sachs Research. But before that we're going to get a quick

markets update from Oscar Ausland of the Goldman Sachs Global Markets Division

who's watching five key numbers in markets right now.

Welcome, Oscar.

Hi Jake, thanks for having me.

So before we start on the numbers,

just tell me a little bit about your focus area here at Goldman.

So I'm the head of content and data analysis on Marquis, which is our institutional

investor platform. So what's a big number that you've been looking at as we start the new year?

303%. That is the ratio of China's total debt to GDP.

Essentially, over the last decade, Chinese policy makers have favored growth over deal leveraging.

And while debt pile can grow for a very long time, It can't grow faster than your economy forever.

So while I think there are plenty of bright spots in the Chinese economy,

this is a risk factor that I always keep an eye on.

And with global growth being so highly dependent on Chinese growth,

this is very relevant to global markets investors.

How about a number that you feel has been getting a lot of attention but doesn't tell us all that

we need to know. 145,000.

That's the headline number in the latest non-farm payrolls report,

often called the jobs report,

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