tv Asia Business Report BBC News April 11, 2023 2:30am-2:46am BST
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warnings on the estate of the global economy as finance officials meet in washington. plus a potential bright spot, some economies expected to do better than forecasts.— better than forecasts. hello and welcome _ better than forecasts. hello and welcome to _ better than forecasts. hello and welcome to asia - better than forecasts. hello i and welcome to asia business report. the global economy is to grab a simple and paltry 3%
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according to the imf. they were made ahead of the spring meetings which kicked off on monday in washington. from there, we have more. high inflation continues to play countries around the world. central bankers are raising interest rates to try and slow down those price increases. as a result, however, we have some of the week growth projections by the international monetary fund since the 1990s. meeting in washington this week, the increasingly fragile global economy will certainly be the focus along with ways for countries to try and mitigate some of the negative impacts of those interest rate rises. high inflation is already having an impact on poorer countries, pushing them further into financial distress. given the uncertain economic outlook, the imf believes more countries
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will be looking towards it for help. earlier i spoke withjohn lipsky the chair of the national bureau of economic research who is also in washington for the meeting and he told me cost of living will feature heavily.— feature heavily. the real question _ feature heavily. the real question is _ feature heavily. the real question is about - feature heavily. the real question is about the . question is about the persistence of inflation. the pessimists think central banks especially in advanced economies are going to have to produce the serious risk of a recession in order to meet their inflation targets. inflation optimists think it will be more benign and a better outlook, perhaps better than the imf and world bank are looking for but inflation is the key and there is little reason to see when looking towards a boom.— reason to see when looking towards a boom. what else are investors looking _ towards a boom. what else are investors looking for _ towards a boom. what else are investors looking for to - towards a boom. what else are investors looking for to come i investors looking for to come out of these meetings in terms of reassurance?—
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out of these meetings in terms of reassurance? there are three other key points _ of reassurance? there are three other key points in _ of reassurance? there are three other key points in addition - of reassurance? there are three other key points in addition to i other key points in addition to the obvious ones about growth, inflation and stability. and thatis inflation and stability. and that is dealing with sovereign debt. the imf expects many more cases of countries with debt distress in the coming months in a situation where there is no well—functioning international system to deal with that restructuring. that is going to be a real effort in washington to try and make progress. —— there is. bringing together private sector, countries in dance and lending countries in dance and lending countries and especially between the advanced economies in china. two other points of importance, the debate about climate and climate finance is extremely important and will be addressed very directly in washington. the us and other
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advanced economies that have charged the world bank and other banks to developing a much more aggressive stance towards climate finance. john li -s towards climate finance. john lipsky speaking _ towards climate finance. john lipsky speaking to _ towards climate finance. john lipsky speaking to me - towards climate finance. john lipsky speaking to me earlier. let's turn to india because expectations are it is likely to get below normal rainfall this year according to the weather agency. we have been looking into this story. our correspondence joins us from mumbai. i know how important the monsoon is for the indian economy. what do these projections mean?- economy. what do these projections mean? what this essentially — projections mean? what this essentially means _ projections mean? what this essentially means is - projections mean? what this essentially means is a - projections mean? what this essentially means is a bit. projections mean? what this essentially means is a bit of| projections mean? what thisl essentially means is a bit of a negative for india's agriculture sector because prop yields could start going down and, as you know, 50% of india's farms are irrigated which means the rest of them depend entirely on a normal monsoon and this comes on the
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back of unseasonable winter rains which have damaged the winter crops. in some sense it could become a double whammy for the agrarian economy of india. would be a time of albino like conditions. ——el nino —like conditions. 30% of the average rain that it usually gets. economists will be looking at what this will mean particularly for food prices when food inflation has just about began to cool off after an elevated period. rural demand and international crisis as key commodities such as rice may be curbed. it is a situation that is certainly being monitored by policy makers. ., ~ , ., being monitored by policy makers. ., ~ ., .,
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makers. thank you for “oining us. makers. thank you for “oining mi makers. thank you for “oining us. let's talk �* makers. thank you for “oining us. let's talk about _ makers. thank you forjoining us. let's talk about technicall us. let's talk about technical shipments of personal computers globally dropped by almost a third in the first three months as fears about economic recession continued to bite, according to market research firm idc. one of the companies heat hardest was apple. katie silverjoins us.— silverjoins us. what does the research tell _ silverjoins us. what does the research tell us? _ silverjoins us. what does the research tell us? i _ silverjoins us. what does the research tell us? i looked - silverjoins us. what does the research tell us? i looked at l research tell us? i looked at the top five makers of pcs and what we have found is there was a $57 million phuoc computer sold in the first three months. thejob sold in the first three months. the job of almost 30%. all companies had double—digitjobs companies had double—digit jobs but companies had double—digitjobs but the was impacted was apple, 40% less sales and a significant drop in its share of the market. a couple of
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reasons. the first is weak demand. when everyone was forced to stay at home during the pandemic including working from home and met many turned to buying fresh laptops and computers. that supersonic growth could never continue. these harsher numbers were probably always coming and the factors well many people bought fresh computers two years ago so they are not necessary looking to replace them immediately. given the current macroeconomic climate and fees of recession, with high interest rates and people feeling unable to pay their mortgages, going out and buying a shiny new laptop is perhaps not top of the agenda and it will hit apple sales as apple makes are seen is such an item. the final reasons is because of glut when it comes to inventory. because of there was so much demand, now shops around the world have inventory sitting around that they were
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keen to sell so not looking to buy any more. —— apple. it gives companies time to move production away from china and we will see some form of recovery towards the end of this year and the start of next year. this year and the start of next ear. ., this year and the start of next ear. . ,, ., ~ , ., year. katie silver thank you forjoining _ year. katie silver thank you forjoining us. _ year. katie silver thank you forjoining us. in _ year. katie silver thank you forjoining us. in other- year. katie silver thank you i forjoining us. in other news, the leaders of latin america and asia's largest economies are said to it. the brazilian president luiz inacio lula da silva is beginning his state visit to china on tuesday. he was meant to be there two weeks ago but that was postponed due to mild pneumonia. there are expectations it will stick to the original agenda which includes of the signing of some 20 agreements. china is of course brazil's largest trading partner. despite the concerns we have been talking to you about with regard to the global economy, something asia will send out as a bright spot, according to the asean blustery
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economic office also known as amro. collectively they could see an economic growth of four points 6% this year, outpacing the imf forecast. points 6% this year, outpacing the imfforecast. anthony points 6% this year, outpacing the imf forecast. anthony tan says part of the optimism is driven by demand.- says part of the optimism is driven by demand. indeed, we are optimistic _ driven by demand. indeed, we are optimistic of _ driven by demand. indeed, we are optimistic of the _ driven by demand. indeed, we are optimistic of the growth i are optimistic of the growth outlook for asia. for asean plus three in particular. i can give you some of the driving factors. number one, we do see that the robust growth in the region will be anchored by robust domestic demand benefiting from fuller economic reopening. private consumption is expected to remain resilient. mainly driven by pent—up demand and this notion of revenge spending. the resumption of delayed
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investment activity supported ijy investment activity supported by private investment.- by private investment. which countries _ by private investment. which countries do _ by private investment. which countries do you _ by private investment. which countries do you see - by private investment. which countries do you see as - by private investment. which countries do you see as the l countries do you see as the standouts into bright spot area, if you well? certainly china. area, if you well? certainly china- in — area, if you well? certainly china. in china _ area, if you well? certainly china. in china we - area, if you well? certainly china. in china we are - china. in china we are optimistic that the growth for of 4.5% is reasonably achievable, primarily because of reopening of the inaudible which is earlier than expected. we expect this huge drawdown of access savings resulting in pent—up demand and spending. they will read drive forward the growth in china from this year. the growth in china from this ear. , ., , the growth in china from this ear, , ., , ., . ., the growth in china from this ear. , ., ., , year. tesla is facing a lawsuit from francisco _ year. tesla is facing a lawsuit from francisco owner - year. tesla is facing a lawsuit| from francisco owner accusing it of allowing its workers to use images captured by cameras in electric vehicles to create what he calls tasteless entertainment. he brought the case on behalf of owners after reading reports of tesla
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employees sending recordings of tesla customers. stay with bbc news. iam i am juliet with the catch up. consequential influence andrew tait and his brother have stepped out of their villa in romania for the first time since leaving prison and being put under house arrest last month. they have also been getting that electronic devices such as part of an investigation into claims including rape and people trafficking. both of them have denied wrongdoing. events taking place this week have been marking the 25th anniversary since the signing of the good friday peace agreement which ended 30 years of conflict in northern ireland, known as the troubles. prime minister of uk will meet
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joe biden to commemorate the event. the dalai lama has apologised after footage showing him asking a boy if he wanted to suck his tongue. it also shows the leader kissing the boy on the lips. joe biden says he plans to run for re—election in 2024 even though he is not formally announced a campaign. at aged 80 is the oldest american president ever and the majority of democrats would prefer the party nominate someone else. despite poor reviews, the new super mario movie has broken records. $77 million worldwide in its first five days of release. add ten seconds of an unusual encounter. inky bail was spotted by fishermen. they said
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the whale swim alongside the boat for five minutes and it was roughly eight metres long. —— mink wail. aspin a spin class for people looking for that feelgood feeling that follows exercise except everyone taking part here is dealing with a disease that has no cure. it is especially adapted for people with parkinson's. julia is a 16 hour but at 43 she found out parkinson would affect her life. , , ., . , life. just a twitching in my little finger, _ life. just a twitching in my little finger, spread - life. just a twitching in my| little finger, spread across life. just a twitching in my - little finger, spread across my hand and continued. about five years ago i felt quite good. i felt very stiff in my body and everything and i played rugby for bristol and for england a
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couple — for bristol and for england a couple of times so it was a bit of a _ couple of times so it was a bit of a shock _ couple of times so it was a bit of a shock-— couple of times so it was a bit of a shock. the team say after 'ust a of a shock. the team say after just a few _ of a shock. the team say after just a few sessions _ of a shock. the team say after just a few sessions they - of a shock. the team say after just a few sessions they are i just a few sessions they are already seeing a difference. we have had already seeing a difference. - have had people cycled to one of our sessions, really struggling to get a lock under their bike. do the exercise and get back to the bank and have no problem at all.— no problem at all. their observations _ no problem at all. their observations are - no problem at all. their observations are being l no problem at all. their - observations are being backed by science. it observations are being backed by science-— by science. it can help the brain rewire _ by science. it can help the brain rewire how - by science. it can help the brain rewire how it - by science. it can help the brain rewire how it works, j brain rewire how it works, using the chemical dopamine better. 135,000 people diagnosed with parkinson's in the uk so the more we can provide for that communities are better. —— the better. behind every headline, there is a human story. this is our world. a series of documentary
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films that reveal the human drama at the heart of global events. hello, i'mjane dougall with the latest from the bbc sport centre. coming up on the programme: no nadal, alcaraz absent, and now ciao to cam, as norrie suffers a shock early exit at the monte carlo masters. not a night to remember at the nou camp, but barcelona move a point closer to their first league title in four years. and super stoinis shines for the super kings, as they snatch a dramatic last—gasp victory in the indian premier league. hello and thanks forjoining us.
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