in terms of what isabel is saying, a regarding safety as all of them on the look, a safe, even in the area that is supposed and this ignited since the beginning of the world as a safe zone here. let's bring you some of the days of that. he has no knowledge and team has low houses, cited to approve controversial reforms at a spot protest and the streets congress has been 3 days to basing present how the malays reform bill is approved by the sun. it's what's known as the omnibus bill would lead to cuts and public services and job losses. at least 4 people were arrested on thursday. after protest is fault with police outside parliament treated by is outside congress in but as long as i'm here, a ton of holes with the what is known as the bill. $144.00 votes against the bill. mental health president, argentine mental health. when you get the president extraordinary policy became

what he believes it's reforming to this country. the top 2 days have been because we tend to quit trying to make our sleep. we're really concerned about the baby on many of the the each month, the price in the table here say that they want to continue the team for margin cleanup. even the economy commission for our country. people here to pay the point $18.00 when you when in

any trouble does the sunset same? what is the result? you can see the funds are being lifted in various parts of the city would demonstrate to still out on the streets a big old and in kenya. at least 3 people have been killed. after a lori carrying gas exploded and caused a major cya find, finds those bottles hours to put out the blazing nairobi. hundreds of people living in residential areas of interest and vehicles destroyed. and those were the headlines for me. so robin, i'll be back with more news in hop, not counting. the cost is next to stay with us. the, [000:00:00;00]

the hello, i'm adrian said again, and this is counting the cost on elders 0. you'll ricky looked at the world of business and economics this week, slowing growth, leading foreign investors and a property jobs order to liquidate. china as economy has faced a suicide packs. is it in serious from also this week, from tech companies to media, american science of slash thousands of jobs and systems of the other workers for you? they now could be at risk plus, so called poli employment is on the rise. we'll take a look at why employees are increasingly working, hold on one job. the china was expected to experience a rip roaring recovery and offered lifted strict code at 19 restrictions bought almost

a year off the measures ended. the chinese economy seems to be stumbling. prices are full and exports and imports of plummeted. unemployment has risen and the real estate crisis has deepened. the sentiment is so bad, the foreign investors fled the stock market last week. the situation could get even worse off to the nations biggest property, develop a ever ground, was order to liquidate image and can but reports. it's been described as a nate in the coffin for the world's most invested property, develop a f, a grand and another place to join us loving economy. a quote in hong kong is ruled that the chinese company must go into liquidation, hold on one sec. i don't get one of the 1st mission is restructuring the business. we will keep the value of have a gland in order to increase the ability of the credit to stakeholder to pay the debt. it's been 2 years since join is largest home build

a default to donate step $300000000000.00 marketing the beginning of joint as property market crisis. company has been working on a restructuring plan, but with no tangible results. judge, leading to john has ruled enough is enough. the china is not always recognized hong kong readings. the problem, the liquidator in hong kong would have any offshore liquid data is they have no enforcement rides on shore in china. so all they can do is try to attempt to grab assets and sell assets that are optional. but the majority of the value in this case is on shore in china. already closing fees and uncertainty is high significant . the company clash is to the trouble joined these economy and i suspect that the chinese government will manage this liquidation process very carefully. and why that does that cause major problems for the chinese economy. in other words, it's not i a layman,

much like we saw it back in 2009. but that's partly because epa ground was already considered as good as bankrupt on the property crisis is already in full swing. this is just for the evidence of a large property bottle in china and you know, evergreen's collapse was in many ways a consequence of that. it was when they using cut down on landing to property develop as in 2020 slash 2021. the day of the grand really got into serious trouble from the ninety's until 2020 property developers could access large bank loans to fund developments. but when the cash flows stopped advert, grand and other property developers headed for collapse. it's estimated there are millions of people who have paid up front for homes, but the yet to move in on the rest of the economy is suffering to last year. joiner's g. d p grew by 5.2 percent, the slowest and 3 decades excluding the curve at 19 is consumers spending is done,

causing prices to drop and make showing up. one of the few countries threatened with deflation on foreign investment fell by 8 percent. most economists don't think all that will have a knock on affects worldwide, but others fear the worst is yet to come for the 2nd largest economy in the world imaging kinda which is 0 for counting the cost. joining us not from hong kong as alysia garcia, editor chief economist for asian pacific at the texas bank. good. have you with us for this year? what's been the full out then on the chinese economy of this liquidation or the against the ground? so i think the biggest impact of this liquidation will be on a phone call as well as from chinese companies issuing the overseas made mostly in talking to in dollar wise. because i just don't think that the chinese sports are going to affect the whole quote to cease assets or the offshore credit.

why? because it is very likely that they, we prefer these, i'm finished units which are more than a 1000000 only forever on that to be finished with the percent of all the drugs, with whatever absence they are left. so thinking that for an investors are going to get this assets is very likely this means that any new investors can try that, trying to get them thinking of buying. it took me spoons in dollar, we think twice. because basically now it's obvious that they cannot see if this is the most of the assets are on in the maintenance. and that's going to increase the cost of funding in dollar for chinese companies overseas. we've talked about this on the program many times before about about the property crisis and, and on where rock bottom is. we now finally, joshua boss and why has the chinese government been able to pull the sector out of the doldrums? well, in terms of the prices,

if you know real estate prices financial crisis, where all of the doldrums, because is that that needs to come is highly eh, intervene or in, in states has including the bike and sector. so it is in a way, and these cuts the controls, the money can lovely. this is why we've not seen it for that price is by the way, we didn't see it in japan in the ninety's either because at the end of the day the, the, the, those were all the china that are i in the may not the contract and weight, but that doesn't mean there's no consequences from this the best that the month. and this is mostly deflation because the yes exec there's pushing down stream prices, iron, nor cement, etc. and that is having to tow on the trend is a huge over capacity. inflation will be a major problem if it's not, if it doesn't get sold. so in that regard, yet it is, this crisis is costly, right?

most of this in mind, maybe the most economic indicators right now pointing in the wrong direction, is china's economy in serious trouble. i would actually start by saying that i don't think the 24th would be much worth i'm familiar with base. so it's really a modeling throw situation is not a price is i explain why it is just very difficult to have a price wherever the facts behind this structure the celebration are not being spared the court repair them with before the huge opening up of the chinese economy, perhaps even fiscal the report just desperately need it. in my view, all these things are not happening. so the clocks are getting bigger, but they're not big enough for the building to full. so we, we still seats no growth, maybe slightly slower, but not a recession. or, or it prices in child, alyssa, i'll be back with you in just

a 2nd. chinese leaders of sickle concerns over the economy by taking measures aimed at reviving growth and studying markets. they include a decision by the central bank to flash the amount of cash, but the banks are required to hold and reserve which could provide long term. it liquidity, if the economy, china is also typed in stock market. bruce, as the government tries to hold a deepening set off almost 6 trillion dollars has been wiped off the chinese and hong kong stock market since 2021. let's see. it was the lack of any big stimulus package. what do you make of the steps taken so far to revive growth and, and what does it take to revive an economy like china is which is which is huge. yeah, good point. so i actually do agree with the recovery finally, make sure even rates because as i said, i worry about the placing in china. so that was the previous,

the cut. but the reason why the piece is not cutting rapidly is that they really worry about offers. so the interest rate differential with, if it is very important, these basic, a alpha, those go into the door which is very profitable in terms of return on the, on the assets or on the previous, these cuts. now it's basically incidentally more of this exit of capital and with a weakening r a b, which is a bad thing now for those are still there with god to. so this is why they're in a way to catch 2222. they need lower rates, but on the other of the other hand they, they want to keep the cost the lead in china. and this is why 10 is very key more than ever to receive for an investment. more than ever would need to realize that this is a charm offensive that we'll see. but so far it hasn't worked. let's say you say you're worried. should the rest of us be worried on investors? did you say or dispute will they?

will they trust ever putting the money into china again, or it is, is john china now set for ups a almost a death spiral, a loop of low confidence? well i would it 1st the full answer, the question, the following way a, do you trust the japanese? because as maybe you to maybe after for the 5 years of deflection a pressures you're ready to go, it's like everyone is going to japan. the wife just defining so cheap, so yeah, but again, it's cheaper, it goes through it very, it's very been in place in the furniture where there was a good reason. me that basically mattered orientation in japan. so to buy, so cheap now compared to what it was in the eighty's early not. so these have that, but this is judy be thought it was more because you know, and number of no, no inflation. i don't think china would be asked to be as to that,

and because china is the big amount of power globally, i mean has literally nearly 30 percent of the bundle talk to market share defending never go there. so i don't think it would be a spot of japan, but a, i do seen that china from rapid conversions with the us, with the develop will we decelerate that comes or just at some point we stole. but the good news is that china, by that time mean by the times that number of the same as the us false seem to be doing. the 3rd done, $35.00, it turn on would have $25000.00 per capita and it'd be that huge market already. but even bigger we'd, we'd rather rich. so basically a scape in the middle of the truck, big country, the consumer consumer land, less than the us, consumers would never come to much, much of the us. consumer provides these lower, but it big market. so it's, i'm not sure market the key to our market,

not even growth market. that's where china city. ok alicia really good to talk to you on counting the costs many thanks to the for being with us. thank you very different story in the us. the economy that grew faster than expected and stocks hit record highest. the market riley was mainly driven by the tech sector, but despite ranking in big profits tech giant's, a downsizing nearly 100 tech firm. so together laid off almost $25000.00 employees . that's interest the 1st month of the year, and it's occurring not only in big companies, but in smaller startups to across a range of roles. meta, amazon, microsoft, google, tick tock, and sales force are among the company splashing jobs. the move comes this tech try and supporting billions of dollars in aust, official intelligence. more than 260000 layoffs were recorded in the industry last year. according to layoff, store f, y, i data, the jump comes back,

then we're in response to the tough economic conditions and changes and consume habits in the wake of the corona virus pandemic. well, the last not limited to the tech sector, city group bank said last month, it was causing 10 percent of its workforce. several retail companies are cutting jobs in order to lower costs. and many journalists began the new year with the pink slip, nearly a dozen main stream organizations, including prominent newspapers, reducing the stuff numbers. joining us now from london is called benedict for a director of the future of work at the oxford mazda in school at oxford university . good to have you with us. so, as we said, the us economy is booming stock. so rallying the tech sector is striving and you have thousands of workers being laid off. what's going on? i think what's happening is that we've seen the period where money has been ex agentless cheap. and so it's changing now with interest rates, pricing, and what that means is that the author period where companies have expended their

operations invested high to more people than now type running their ballast. and as a consequence, we're seeing these layoffs. and also, as we mentioned uh, heavily impacting, smaller companies as venture capital firms becoming more risk of us and then you high interest rates and environment. and i think that is the sort of driving force behind these laid off. okay, you say that type thing that bells the businesses, they exist to make money. do they really need to, to get rid of the stuff, these people? and is this going to be contagious? so be going to see it across multiple sect does not just the tech sector. as i think the effects of interest rates on employment are going to be seen across a variety of sectors. but remember, the tech sector expanded particularly rapidly in the leading up at to these

a rising interest rate. so i think the impact is going to be more significant and in the tech sector, whether they need to do it or not. and i'm not the business analyst, but i do think that they are at the credit, quite a mess of pressure from investors to improving profit profitability. okay, so it could be in the investor driven, but the other question i want to ask is that to what extent is a i replacing people. so artificial intelligence is going to have a huge impact on the labor market go forward. but i don't think we've seen the much of outright replacement at from a i yet. i think what's happening gradually though, it says artificial intelligence is changing the business model. in many companies, in particular, firms that's being very reliant on collaborative advertising for revenues and not seeing those revenues being challenged to large degree by technology is lock chat, stupid

t m. and i think the big question marks over to what extent people will continue to search and, and the web at to find news and information. and depending on the impact on the web traffic in particular, and the impact of companies, advertising revenues and kind of can be quite significant. so we talked about the media sector also laying off jobs and very different reasons i assume from the tech sector. i mean is a, i something to do with what's going on in the media industry that the business models need to adapt and change. so the media industry has been on the pressure for some time now to large degree because of rising competition from the types of tract forms and changes in the way that people can see news and entertainment. but i think in addition to that, they are as now creating

a profit store as it becomes easier for outside us to generate content with the health, which activity as news organizations can become leader. as a result of the generativity i and obviously many media companies uh, companies rely on advertising, advertising reb, revenues very handily. and as that business model is gradual, being undermined by gender to v i. s. well, the layoffs in the media industry have been particularly mess. what does this tell us about the us labor market right now, particularly off to the feds, but latest decision then its impact on the economy or so i think that most of the impacts from rising interest rates have already at been seen, but they're a good question marks over janet t v i and it's impact on living markets go for not think we are much at the

cost of a transformation, which is very similar to the one electricity head on the us economy. and as companies change their business models in response as a, i am changes the way corporations look, that will be layoffs going forward. but there will also be new job opportunities. emoji really good to talk to you so on catching the cost many. thanks. and thanks for being with us. my pleasure. now the practice of working more than one job to make ends meet is nothing new, but the trend is now known as poly employment is no longer driven solely by financial needs. exploring different career pops is another reason why employees work too full time job civil tediously. and despite the stress involved and double jumping, not to mention the lack of sleep poly work is on the rise. a new study by workforce management and sugar link platform deputy found probably employed shift workers

more than doubled over the past 2 years. 60 percent of party workers. a women disproportionately young. the so they found the one in 5 generations, the workers engaged in poly employment. the vast majority of double jumping, though, took place in the hospitality sector, health care and retail, others where the trend is common. so why do people take on board them one job and how does that affect the price balance? we'll put that question to our guest shortly. but 1st, let's see if what some employees have had to say right now in the united states with how expensive everything is, especially for college students. i think people feel like they have no choice. for example, i'm some of those get an answer in the summer, but i'm thinking, oh, maybe i should get another side also another job because i'm gonna be in new york city and your city is an expensive place. so i think that people are put in positions where they feel like in order for me to feel secure and safe and comfortable, especially as a woman, you feel like you need to take the extra 10 steps. i've had multiple jobs, i have multiple jobs left here this year. i'm a little bit more stable, so i have

a regular don't know. uh, i was sort of a start founder. so at that point it was like i needed to have multiple in concerns because there was so you know, both totally fluctuating for they were probably some, you know, a few weeks for average more than $100.00, which um, but it also gave me a lot of freedom in this area, it's just kind of like a page of constructs like you, you get to kind of offset of lots but then again at the expensive we're familiar with the hard. and so it's sort of time for us to ship because they be, it's being too positive. but i can imagine it being nice to have several different jobs. what i like about my job is there's a lot of variety. so it could be nice not to do the same thing the whole time to do different things. or actually it's not for melvin and australia is dr. shashi quarter of an s a. he's a chief economist at the geographic, a global city planning consultancy. good to have you with us. i'm probably

employment. it's on the rise. the and it's not just people making ends meet now. is it? that's right. it's clearly it hasn't been, as i said because of the cost of living much it inflation. but what we found and the analyzing millions of ship, what goes is that this trend is currently being pushed by young generation, say what goods? well, need to experiment in your career as a means by taking multiple jobs in multiple industries. so that's a very interesting trend that is recently a, the best thing to them is that you have the people spend the libel inquiry part of the throne of the younger people. i think the experience of the se, and, and the pending as many young people realize the job 3 months, i'm not as stable and secure as they thought it was always the, the eldest. and so young people tend to take on multiple jobs sort of as an insurance rates that gives losing one well. so maintaining another and that's it. and we have to take

a lot of place and this hides the labor. it's your market. all right? on, on comes with the cost we, we like to look at the global picture, is this trends more pronounced in, in certain countries than others? certainly both are now in developing countries. contents. part of it is in place, but those are rising cost pressure as you can appreciate. a high proportion of young people continue to your rate and increasing the housing in affordability, has driven them in part to take or multiple jobs to make any makes in need of a whole we find a huge that's been is most find it in places like australia where does the housing cost pression and is a 30 year hide in the share? and what? because taking on multiple jobs, a wheezy whizzing decade or higher, the us and then you can leave. the lock is as well of our employee is concerned about this, about this trend, the fact that but somebody might be coming to work for them having already finished

a shift elsewhere. i mean that that's going to be impact impact productivity has missed certainly, but some of the boys are not able to provide a more reliable look, goes full employees, especially in ship with industries like hospitality, retail. and the notion of our reliable logo is, is, is, is more planning on a weekly basis and was particularly young, who is looking for most of the georgia streams of income. i'm taping on multiple jobs to me and to manage those income flows. certainly employees were able to plan for the employees on flexibility, structures and reliability of what colors. i think they, they would find a way to, to manage those, those workers that i take, you know, multiple jobs. and why is the trend more common among women? the men should so if you think about a, the economy has been

a whole lot of people with extra work hours. but women and particularly young women in these family responsibilities have to juggle the voice. media family needs while ensuring a reliable stream of income in what colors the best way to do that is frequently done through taking on a gate. what? by taking on multiple reliable should level jobs to own jobs. sometimes fascinating talk to it's been really good to talk to you on counting the cost manufacturing date for being with us. thank you. and that's our show for this week . if you'd like to comments on anything that you've seen, you can get in touch with us on the x. i'm at a thinking that please try to remember to use the hash tag h a c t c. when you to contact us why i asked, you could also drop us a line counting the cost i'll just, you know, don't met is our email address. as always type email for you online at, aus. is there

a dot com slash ctc that takes you straight to the page that you'll find individual reports links at a time episode, speed to catch up on the bus it. so this edition of counting the cost on a tree instead of going from the whole team here. and so thanks for being with us. the news on i was just the euro is next. the route to you by visit comes to the pacific coast just being backdated. this is a picture from southern california of flooding. now the winds were particularly strong here that they were a notable, but the point really is of a hold of the west coast is likely to be either went or if you're in line to be in the mountains, sorry for a while yet. so the picture on south today is that cold has come off the mountains and dine towards the plains facing being mixed with this air of the gulf. you get some even shells in louisiana. but the small writing coming to southern california

and on sunday looks particularly wet. they all the way aside from san francisco, beyond the funds into san diego, with more funding, quite likely. and the same is true in the southeast corner, were significant. most though, 40 in the rockies as well. so that's fairly active, whether in contrast to the very current, whether in the caribbean, where all the trade winds very license the environment. so slow moving charles on the resulting doesn't posit columbia veterans right. not so much right now in kind of on your own, by just putting it all big charts and science with that in peru, in particular with flash, nothing seems quite light the, the shelves fresh up to was boerger time i'm dying to was re i where they again, i've caused some flash flooding sounds so that is quite holt, an option to you know, knowledge and tina. i mean paragraph where it is cooling down in bio blank. the weather brought to you by visit cuts on

the of the the us little just as strikes in syria and iraq in retaliation for a drone to turn that killed 3 us soldiers in jewels and the results comes just hours of to the bodies. all the 3 service then best will return created to the us, the product. so robin, you're watching onto their life when headquarters here in the also coming up profit as

a pressure approval of despair that we feel for what comes next. i want to inform the united nations on life and southern gaza with most of the 1000000 people have