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tv   Asia Business Report  BBC News  November 7, 2023 12:30am-12:46am GMT

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let's start in beijing where australia's prime minister anthony albanese has met chinese president xijinping. the leaders have expressed a desire to work together and move on from recent tensions. their relationship soured during the pandemic after australia's last government called for an investigation into the origins of covid—19. beijing slapped bans on several australian imports — including wheat, coal, and barley. those restrictions were only lifted this year. here's the chinese leader. translation: a healthy and stable relationship is in the common interest of our two countries and peoples, and meets the common expectations of countries in the region. we will push forward the development of the china—australia comprehensive strategic partnership. for more i'm joined by simon baptist, global chief economist
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from the eiu. he says australia was never a good target for china to have tensions with. it’s good target for china to have tensions with.— tensions with. it's a slight stabilisation _ tensions with. it's a slight stabilisation but - tensions with. it's a slight stabilisation but ties - tensions with. it's a slight stabilisation but ties are l stabilisation but ties are going to remain quite difficult. this recent incident between australia and china over the last two years really shows the limits and in some way the lack of sophistication of chinese foreign policy. australia was a bad target for china to choose. it was always going to side with the us when push comes to shove. because of its resource endowments it's got unusually large amounts of leverage. pushed by china on australia hasjust leverage. pushed by china on australia has just resulted firstly in australia doubling down on diversifying its export rays. it's termed public and political opinion in that country firmly against china. there's no political gains to be had by being too friendly. the fact that china's economy growth has been slowing down, do you think that is playing a role in the improved relations?
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china's establishment is saying not only has the pressure not been yielding results but it's actually been counterproductive and pushed australia to doing things like accelerate the caucus agreement where it will get nuclear submarines, pressure like firms like huawei and foreign investment. china's economy is in a weak spot so that they could do with fewer problems. and repairing the relationship within important trading partner and it is in important financial relationship. china is a huge market for us try is one of the major and largest suppliers of goods to china was up both sides will get some benefit economically from the relationship improving. does that mean — relationship improving. does that mean the _ relationship improving. does that mean the future - relationship improving. does that mean the future is - that mean the future is albright? australia businesses shouldn't have to worry? absolutely not. the futures that many clouds in it. i think australian firms will made to be wary are they being used as
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geopolitical footballs? as future spats happen, they will because the countries have deep disagreements on many issues, human rights, taiwan trade, investment rules with her on the same token, chinese firms are knocking to get an easy ride in australia. we're not going back to the heydays of the mid—2010s. going back to the heydays of the mid-2010s.— going back to the heydays of the mid-2010s. ,, ., ., the mid-2010s. simon mentioned au:ust, the mid-2010s. simon mentioned august. the _ the mid-2010s. simon mentioned august, the multi _ the mid-2010s. simon mentioned august, the multi elliott - august, the multi elliott defence partnership between the us australia and the uk. the biden administration has announced that it will be sending a high—level delegation to australia this week to review how it's progressing. this includes representatives from the state department of a national security council, energy department as the pentagon. the three—way deal aims to create a new fleet of nuclear powered submarines seeking to counter china's influence in the indo—pacific region. the video game, fortnite, says it had its biggest—
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ever day on sunday. saying it stifling competition on vendors on its android operating system. the two are facing each other in federal court in san francisco. our north america business correspondent — erin delmore has the latest from new york. fortnight makes a lot of money by an app purchase. it fortnight makes a lot of money by an app purchase.— by an app purchase. if on an android boat _ by an app purchase. if on an android boat google - by an app purchase. if on an android boat google makes| by an app purchase. if on an| android boat google makes a commission off back. that's true if you're making any in 3pp true if you're making any in app purchases like downloading an audiobook or subscription. in this lawsuit epic is claiming that you the customer are paying higherfees for these things that you should be. epic sued apple over this issue a couple of years ago and that largely it resulted in an initial weld for apple although the supreme court may take a second look. this is different because it will be decided by a jury because it will be decided by a jury instead of a judge. epic is being countersued by google. this isn't the only antitrust case google is facing right
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now. it's in a legal battle with the justice now. it's in a legal battle with thejustice department over its search engine for case is one of many we've seen in recent years on washington's efforts to rain and big check. it's been ten years in beijing and infrastructure project to redevelop the ancient silk road connecting china to the rest of asia, africa and europe. some of those project sensors seated but some have failed. bradley parks is the executive director for aid data and he gave me his take on the current state of childers belt and initiative. if you were sitting in beijing right now and looking at a global cash forward you would see a lot of flashing red lights. the chinese authorities, they are dealing with three big problems. the first is debt repayment, 80% of china's overseas lending portfolio is currently supporting borrowers in financial distress. problem number two is that a lot of beijing overseas infrastructure
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projects from the environmental, social or governance perspective, when china first got into the global infrastructure market it had only 17 problem projects. if you fast—forwa rd to only 17 problem projects. if you fast—forward to today it has nearly 1700 problem projects. the third big challenge is reputational risk. as belt and road projects have run into trouble china has seen its public approval rating plunged from 56 to a0%. now with the grace periods on many chinese loans expiring beijing is trying to find its footing is trying to find its footing is the worlds largest official debt collector. the thing about debt collector. the thing about debt collectors, they don't win a lot of popularity contest. it's being called australia's "great unretirement" — as older people change their minds about quitting theirjobs and rejoin the workforce. a combination of the rising cost of living, a shortage of workers and the growth of flexible employment has encouraged more people to come out
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of retirement. that's even as experts say older australians still face ageism in the workplace. from sydney, phil mercer reports. after 45 years as a motor mechanic he needed a fresh start. he was weary and stressed. he ended up swapping retirement for a new career as an artist. retirement for a new career as an artist-— an artist. this isn't one of my aalle an artist. this isn't one of my gallery spaces- _ an artist. this isn't one of my gallery spaces. i _ an artist. this isn't one of my gallery spaces. i was - an artist. this isn't one of my gallery spaces. i was coming | an artist. this isn't one of my i gallery spaces. i was coming up to retirement and i was looking ahead at where i wanted to be. and while my hands work and my mind work i would like to work until my last day, really. i don't want to start new ideas every day. it's not short of ideas, it short of time. we hear a lot of stories, people sit down at retirement and see watch the tv and whatever and it doesn't take long, a couple years and they start sliding. about a third of newjobs in australia have been taken by the over 50 fives who are
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rejoining the workforce. many missed the social connections in the sense of purpose that a job can bring. 0thers need the money. job can bring. others need the mone . . ., money. the cost-of-living pressures _ money. the cost-of-living pressures might _ money. the cost-of-living pressures might be - money. the cost-of-livingj pressures might be biting. money. the cost-of-living - pressures might be biting. and for some they also want the meaning that work provides. ageism is still systemic for the employer should be recognising that these older workers are an opportunity in an asset, particularly when they're facing problems finding skilled labour. this is an untapped resource. many businesses _ untapped resource. many businesses in _ untapped resource. many businesses in australia i untapped resource. many. businesses in australia can't find enough staff. but as the population ages the economic influence of older people in the workplace is increasing. about a fifth of all workers are now aged over 55. job flexibility has been a key factor. ~ ., ., , ., factor. we have to remember and exce -t factor. we have to remember and except retirement _ factor. we have to remember and except retirement is _ factor. we have to remember and except retirement is not - except retirement is not gardening, golfing and grandparenting for everyone. grandpa renting for everyone. but we grandparenting for everyone. but we really need to start
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thinking for the older worker, what does work actually look like and can it mean for them? canopy different from the traditional mould of full or part—time work was back at their peak capacity for them to mentor others in the workplace? a lot of these tell a story. australia is great and retirement is gathering steam. for the former city mechanic james, his custom—made lighting with its industrial flavour is illuminating a brighterfuture. illuminating a brighter future. it's illuminating a brighterfuture. it's functional art. phil mercer, bbc- it's functional art. phil mercer, bbc news, i it's functional art. phil- mercer, bbc news, sydney. in italy — a judge has ordered the seizure of about eight hundred and forty million dollars from the short—term rentals platform aianb, for alleged tax evasion. a statement by the milan prosecutor's office said aianb
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was suspected of failing to withhold 21% of landlords�* rental income, and pass it on to the italian tax authorities, as required by law. the period in question covers twenty seventeen to twenty twenty—one. airbnb has told the bbc they're surprised and disappointed by the announcement and the company has been in negotiations with the italian authorities sincejune. and that's it for this edition of asia business report. thanks for watching. bbc news — bringing you different stories from across the uk. villagers who gathered to meet their mp in a pub car park in canton, nottinghamshire, hadjust found out about the latest proposal for a solar park. the great north road scheme plans battery storage for the grid and a chain of what's called solar islands linked by underground cables circling the village. i think that the majority of the community probably isn't against solar, but i think the dimension of this project is just so huge and vast. the proposals that we're seeing
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cover dozens of villages, thousands of acres, and will have a profound impact on the landscape and the quality of life of people living in this area. the company behind the plan says if it goes ahead, they'll pay £1 million a year to projects suggested by the community. this is just the start of a consultation which really gets going next year as a nationally significant infrastructure project. the final decision will be made by the secretary of state for energy. for more stories from across the uk, head to the bbc news website. hey, i'm steven with the catch up tonight — bonfire night clashes in scotland, the search for lewis diaz's dad and some spectacular skies. but first, have you ever bought a top or a dress on boohoo and wondered how it's so cheap? well, a bbc investigation has found
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the company is breaking its promises to make clothes fairly and ethically. we sent an undercover reporter to boohoo's head offices in manchester. she found staff are under pressure to drive down the price paid by suppliers even after a deal�*s had been done. 0ne colleague admitted lying to try and get clothes made at a cheaper price. boohoo says it's invested significant resources into driving positive change across the business. you can watch the full panorama investigation on the bbc iplayer now. it's called boohoo's broken promises. some other stories now — and eight police officers have been injured after violence on bonfire night in scotland. this was near in edinburgh last night. more than 50 young people throwing bricks, fireworks and petrol bombs at officers. police believe the clashes were planned. and an update on liverpool forward luis diaz's dad, the gunman who kidnapped him in colombia over a week ago, say
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they plan to release him soon, once the local officials meet their demands. diaz revealed a t—shirt saying freedom for papa after he scored for liverpool against luton yesterday. time to leave you with 10 seconds of the northern lights because, yep, this isn't a filter. these are the stunning pictures from across the uk on sunday night as the lights put on a pretty special show. looks amazing, doesn't it? you're all caught up. have a good night.
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hello there and welcome along to sports day. i'm gavin ramjaun. controversy in delhi — angelo mathews becomes the first international cricketer timed out in sri lanka side beaten by bangladesh. chelsea beat spurs 4—1 at the tottenham hotspur stadium. but that's only half the story in a thrilling premier league london derby and a boost for manchester city is erling haaland's back in training ahead of their champions league game following an injury at the weekend.
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hello there and welcome along to sports day. history was made at the cricket world cup in bangladesh's three wicket victory over sri lanka. but for controversial reasons, angelo mathews became the first international cricketer to be timed out after failing to get himself in a position to face his first ball for sri lanka. bangladesh insisted it was a violation which left the former sri lanka captain fuming. their hopes of reaching the semi—finals now over. patrick geary was watching. a murky delhi. the arunjaitley stadium sits in the middle of a problem. this week. india's capital has been the most polluted city in the world. schools are off, building work has stopped, but the cricket goes on. the world health organization rates the conditions in delhi as very unhealthy. both bangladesh and sri lanka have missed training sessions in recent days. both have questioned the safety of the match.
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when they did train, bangladesh wore masks and took precautions.

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