GROWING TRUST IN GOVERNMENT IN DEVELOPING COUNTRIES The mounting impact of inflation, immigration and inequality helps explain why only about 20 per cent of Americans express trust in government, down from a peak above 70 per cent in the 1960s.

18:47:38 - you're watching east asia tonight beijing's top officials are gathering to discuss what they plan for the economy next year at the annual central economic work conference observers say that policy makers will be looking to tackle soft domestic demand and address what is expected to be a deepening trade war with the us investors meanwhile are keeping a close eye for signs of more measures to boost growth and if more cnn's to new glenn joins us now live from shanghai so you one what is the latest from the central economic work conference well i'm afraid we have all been waiting with bated breath for what from the central economic work conference and so far it has no be there's not been any word from them it typically get as leaders from the central government and also the provincial governments also the hits off institutions state owned institutions financial institutions as well as state-owned companies the meetings while you watch because like you said it gives investors the militants into help policy makers in tent approach the coming year not a hint of this meeting however even though we have from the cwc yet we hear from the communist party's central decision-making body and that is the politburo it announced a moderate eu monetary policy and more proactive fiscal tools to support the economy of this is language not since knots hundred since the global financial crisis more than a decade ago and that's it early i did speak to an associate professor of finance from nyu shanghai leong hon should he says is important to note that the politburo has been let it control in his message a hit of the cwc the key what being moderately so he says that we should not be expecting dramatic lowering of interest rates for example he says the chinese government is a student of history and definitely would have learned its lessons from the global financial crisis we started in us as a result of a mountain of debt and all it takes when there's a mountain of debt it's a trick the spark a crisis so i asked him what would he expect from the cwc tonight and this is what he has to say when i look at all the different types of measures that the government could help to support stimulus there be two things i pay a lot of attention to it first of all would be any particular measures to support consumption so that would be very critical but second i would pay particular attention on what measures would be made to support small businesses specifically for small businesses to be paid faster one thing you see over the past year is that that pmi number for small businesses has almost considerably always been in contraction and this is a concern because eighty percent of china's working urban force is all employed by small enterprises and if they're not getting paid in time then they start laying off people if people get laid off they lack consumer confidence and if they don't have that confidence it's tougher for them to want to spend and so that spending that recovery and willingness to spend is really at the heart of china's private sector growth and overall economic recovery now it's worth noting while we wait for direction from the see ewc that the has been a reuters report we says that you know chinese policymakers are considering allowing the yen to weaken in twenty twenty-five to blank the impact of us tariffs expected when the trump donald trump takes office in the white house not letting the un depreciate would make chinese exports cheaper and therefore blunt the impact of those terrorists not right as bases report on treat people is spoke to who we had this knowledge of the discussion but spoke on the condition of anonymity because they were not authorized to speak to the public about this matter that's it later financial news a publication from china's central bank released a report saying that the foundation for basically stable yen remains solid and that the yen is likely to stabilize and even strengthen near the end of the year now we do have to remember devalue yen would have an impact on impasse and could actually pass possibly trigger inflation and dan consumer in a consumer confidence now let me do share that i do have a company i do have ended on a day when i was having lunch of a shanghai resident and she was basically due to foreign about announcements from the cwc because she is also looking but don't stop me she has bought early now this really goes to show how much this meeting need even to the folks on the streets