China auto sales slump & Tcherneva on Greece
Auto sales in China – the world’s largest vehicle market – have slumped for the first time in two years. According to China’s Association of Automobile Manufacturers, industry sales dropped 2.3 percent in June compared with last year. And the agency has already slashed its forecast sales for new cars, trucks, and buses from 7 percent growth to 3 percent for the year. Analysts say much of this has to do with China’s slowing economy, including the recent plunge in China’s stock market. Ameera David weighs in.
Ameera is joined by RT correspondent Daniel Hawkins, reporting from Athens. Daniel tells us about Greece’s final proposal to their European creditors and if there’s any sense of how the ECB, IMF, and eurozone countries will respond to it.
RT correspondent Egor Piskonuv reports on the developments from this year’s BRICS summit. The event wrapped up on Thursday in the Russian city of Ufa, where world leaders discussed global economics issues, including Iran sanctions and the Greek debt crisis.
After the break, Bianca Facchinei takes a look at the potential for another drop in oil prices. According to the International Energy Agency, there will be no production growth outside of the Organization of Petroleum Exporting Countries next year for the first time since 2008.
Erin Ade sits down with Pavlina Tcherneva – associate professor of economics at Bard College and research scholar at the Levy Economics Institute. Pavlina tells us about the IMF’s motivations behind their rejection of tax increases and gives us her take on the next steps for Greece.
And in The Big Deal, Ameera and Erin talk about the increase of “cord cutters” and how it’s affecting networks like ESPN.
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