welcome to asia business report. i am monica miller. welcome to a new week on asia business report, and we are seeing oil prices starting to rise in early asian trade this morning. this is after a failed mutiny in russia over the weekend raised concerns of possible political instability and what sort of impact that might have on the global oil supply. if you can remember back in early 2022, we saw oil prices spike following the russian invasion of ukraine. earlier, i spoke with naeem aslam from zaye capital markets who gave his thoughts on how the energy markets could move. looking at the futures market, we don't really see too much of an action, although it is quite important to emphasise that russia plays a very important role within the opec cartels. so, if these tensions, if they escalate and change into something more meaningful, i think then certainly we will have a huge reaction in the market, but for now

i don't really see anything more meaningful coming into the market. we have reached now the halfway point of 2023. how would you describe the health of the global economy? that's a really intriguing question. i think throughout this year, central banks and lawmakers and policy makers have been focused on containing inflation, bringing inflation under control, and a lot of these banks have failed to bring the inflation to the target level, which is still running quite high, so especially in the uk, the cost of living crisis is a huge issue, and inflation data last week has already shown that there is no easiness or ease—off in the data for the time being. but, having said all those pessimistic things and pointed to those factors, i think i am a bit more optimistic going into h2 of this year because i think inflation is going to come closer to the central bank's target,

whether we are talking about the federal reserve, whether we're talking the ecb, and, of course, inflation is not that much of an issue when it comes to pboc over in china. and over to china where the latest data showed travel spending during the dragon boat festival last week fell short of pre—covid levels. domestic tourism revenue was about 95% of the amount recorded in 2019, even though more trips were made. we have been seeing signs of a slowdown in the chinese economy, and not just over consumer levels. earlier, i spoke to julian evans—pritchard of capital economics who gave us his outlook for china for 2023. well, i think sentiment has swung from sort of extreme optimism to the point where we are now entering a period of extreme pessimism. you look at many of the consensus forecasts for chinese growth of around 5% this year.

that would imply the chinese economy barely grows for the rest of the year. that is certainly a possibility. it is a risk. you mentioned the tourism data for the dragon boat festival. that was pretty disappointing. 95% of pre—pandemic levels, whereas in early may during the labour day holiday when we were back at 100, so it seems like the recovery there is going to reverse, but i don't think we should give up hope just yet. they do have some stimulus measures that they could potentially roll out. the labour market is not quite as weak as it looks if you just focus on youth unemployment rate figures, which were very high, but if you look at the overall unemployment rate is slightly below its pre—pandemic average so it would not take too much policy stimulus to push it down to levels that would be consistent with an acceleration in wage growth which could generate positive spillovers and address some of those confidence issues. so, we are not completely throwing in the towel

for a slightly stronger growth than people are expecting but it will not be the that we were used to prior to the pandemic. we will take a deep dive into the economy and to see what is installing the rebound and what policy makers are doing to spur growth edit the second largest economy. speaking of the economy, the fort cs, korea, conflict, cost of living. it is because the issue in lots of countries and that is being said by the international trade centre. the executive director of the itc made the comments to the bbc and explained why trade and inclusion were the only parts for global growth. we are not through yet. we have the inflation issues coming up. we have massive debt and the social strain that has emerged from this crisis, well, the multiple crises, can't go unattended. the second issue is, which has been overlooked a lot more, is the impact

on the most vulnerable. the msmes who have suffered exponentially and the ones that my organisation work with, the lbcs, the llbcs, small island developing states and those in africa who basically have had to weather this storm of the food crisis, the cold war, conflict and also the impact of covid. and then we look at women — more than 2 million women left the workforce in the united states alone in 2021 and that has not been able to recover. the rates of sexual violence grows exponentially, domestic violence as well against women, and for young people it has been a very difficult time, so when you combine all these factors, it has not been easy, but i do trust that we are able to address these issues in a broaderframework, and hopefully we will be able to emerge from this stronger

and more resilient. old cars are being given a new lease on life thanks to a scheme from online marketplace ebay which takes parts destined for the scrapheap. it will help consumers notjust to save money but offset part of their carbon footprint as well. paul carter visited a recycling plant in the uk to find out how this works. we are all familiar with production lines in factories, but here is something a little bit different. this is a deproduction line and it can dismantle entire cars from scratch down to its component parts injust over one hour, and i am

here to follow one car on its end—of—life journey. here at the uk's most advanced reverse production line facility, 120 cars are received daily to be deconstructed, packed and purchased online within hours. using a 13—step process, the company aims to recirculate as much as possible back into the economy. this even includes draining fluid such as oil and petrol which is resold to staff at a discounted price. and robotic arms helped the mechanics stripped the car for specified parts. eventually it goes into the box andto the warehouse and is resold either on the internet or through the front counters. the parts go straight back to the manufacturers. the other materials get recycled so we basically recycle a car to greater than 95% of its body weight. not only is this whole facility

operated by solar power, but also that solar energy operates our forklift trucks, our electric baler, which crushes the vehicles, and the company is in a transition of moving into 100% electric. as consumer interest in sustainability grows, there is likely to be increasing demand for reused parts like this one, rather than purely recycled ones, and as you can see from the scale of this facility there is already quite a lot of it. but one barrier people face is being sure of the quality of reused parts. as ebay is one of the largest online automotive marketplaces, it has partnered up with industry to develop a certifica to help people

buy in confidence. it is independent of the industry so it is an outside body looking at it and it is a verification that you operate to a certain standard. it was developed because we needed more professionalism in the industry. by having providence, by knowing where that second hand part came from and ensuring it is not stolen gives the insurance companies satisfaction that they can then fit that part. we have an appalling situation with parts shortages in general. many cars are off the road for a long time waiting for parts, and a secondhand part, a recycled, green, part is available, why not have that fitted and get yourself back on the road quickly? last month ebay relaunched their certified recycled portal featuring certified recyclers like charles to make it easy for people to find same quality parts as the ones their cars were sold with. there is 2500 auto treatment facilities in the uk. not all of those will specialise in actually removing the parts from the vehicle.

a lot of them willjust scrap the cars and sell it for metal value, and for customers who can't necessarily afford to buy brand—new parts to keep cars on the road, these types of parts give them an opportunity to keep their cars running. as consumer attitudes towards the secondhand market are changing, so is the industry, and instead of being the sort of place where cars come to die facilities like these are giving them a new lease of life. and that is it for this addition of asia business report. thanks for watching. ina in a school in south—west london, a surprise is about to take place, starring will polter who just start and guardians of the galaxy three but he is here today because of

his sister. but he is here today because of his sister-— his sister. today is national think a teacher _ his sister. today is national think a teacher day. - his sister. today is national think a teacher day. she i his sister. today is national think a teacher day. she isj his sister. today is national. think a teacher day. she is an unsung hero in text on a huge responsibility. the unsung hero in text on a huge responsibility.— responsibility. the day began in 2014 to — responsibility. the day began in 2014 to celebrate - responsibility. the day began in 2014 to celebrate the - in 2014 to celebrate the commitment and professionalism found in so many schools. hi. found in so many schools. hi, everybody- — found in so many schools. hi, everybody. hello! _ found in so many schools. hi, everybody. hello! how- found in so many schools. hi, everybody. hello! how is- found in so many schools. hi, everybody. hello! how is it. everybody. hello! how is it auoin ? everybody. hello! how is it going? hi. _ everybody. hello! how is it going? hi, miss— everybody. hello! how is it going? hi, miss charlotte. | everybody. hello! how is it. going? hi, miss charlotte. it is national thank a teacher day so i wanted to say thanks to you and your colleagues. she is funny and _ you and your colleagues. she is funny and she _ you and your colleagues. she is funny and she is _ you and your colleagues. she is funny and she is cool. - you and your colleagues. she is funny and she is cool. she - you and your colleagues. she is funny and she is cool. she is i you and your colleagues. she is funny and she is cool. she is a l funny and she is cool. she is a ureat funny and she is cool. she is a great person- _ funny and she is cool. she is a great person. she _ funny and she is cool. she is a great person. she is _ funny and she is cool. she is a great person. she is always i great person. she is always kind — great person. she is always kind to _ great person. she is always kind to everyone. _ great person. she is always kind to everyone. the - great person. she is always kind to everyone. the whole team is incredible. - kind to everyone. the whole team is incredible. it - kind to everyone. the whole team is incredible. it is - kind to everyone. the whole team is incredible. it is a - team is incredible. it is a joint effort and i am lucky to work to the people i do. appreciation often goes unmentioned. 50 appreciation often goes unmentioned.— appreciation often goes unmentioned. , ., ., unmentioned. so proud of you. schools today _ unmentioned. so proud of you. schools today it _ unmentioned. so proud of you. schools today it is _ unmentioned. so proud of you. schools today it is hoped - schools today it is hoped people, parents, family and friends will take the time to

say thank you. for more stories from across the uk, head to the bbc news website. the young chinese rookieruoning yin wins the women's pga championship.

king of queens. carlos alcaraz wins his first title on grass and regains the world number one ranking ahead of wimbledon. and the st louis cardinals fight back to beat chicago cubs and draw the mlb london series. welcome to the programme. the young chinese golfer ruoning yin in her rookie year has won the women's pga championship — her first major title. and she did it in style with a dramatic victory on the final round in newjersey which had been delayed for bad weather. the 20—year—old ruoning was level with japan's yuka saso on 7 under heading on 7 under heading to the 18th hole. to the 18th hole. saso made par but ruoning saso made par but ruoning rolled in a birdie to beat rolled in a birdie to beat the former us women's open champion by a shot. northern ireland's stephanie meadow was tied for third and the overnight leader leona maguire from ireland finished tied 11th.

keegan bradley overcame a back—nine wobble to claim his second pga tour victory this season with an impressive three—stroke win at the travelers championship. the former us pga winner took a one—shot lead into the final day in conneticut but he led by as many as six strokes at one point, only to give hope for the chasing pack by making three bogeys in four—holes. the american then recovered been growing on these lawns, to card a 68 — 23 under for the tournament. rory mcilroy finished tied for seventh. carlos alcaraz is now the top seed for wimbledon after winning queens — his first title on grass. his impressive victory over alex de minaur in the final means he's also the world number one, over—taking novak djokovic in the seedings for wimbledon, which starts in a week's time. patrick gearey reports. one of the most popular paths to wimbledon runs through west kensington. queens is a good place to see the future. it's grass courts are strange territory

for carlos alcaraz, but he's