tv Asia Business Report BBC News July 10, 2023 12:30am-12:45am BST
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helped improve relations between the worlds two biggest economies. plus, they died on board of a boeing 737 max that crashed four years ago. now theirfamilies want crashed four years ago. now their families want boeing to face in unlawful healing. hi there, welcome to asia business report with me, mariko oi. after a marathon of meetings with chinese officials in beijing the us treasury secretary janet yellen expressed confidence that her visit will help stabilise us china relations. ms. yellin was a trip to china is just the latest step as the world to biggest economies are working on improving ties after a tense few years. the two sides continue to be locked in a tit—for—tat trade war which is now spilt over into the technologies base for the us has imposed export controls get designed to restrict china's
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ability to buy high—tech microchips and it's now considering an executive order to curb us investment in sensitive areas. jerry eligible to chinese counterpart to any such measures would be hardly targeted. i such measures would be hardly tarueted. , .,, , such measures would be hardly tarueted. , . , , ., targeted. i emphasised that it would be highly— targeted. i emphasised that it would be highly targeted - targeted. i emphasised that it would be highly targeted and| would be highly targeted and clearly directed narrowly at a few sectors where we have specific national security concerns. i want to relay them fears that that would do something that would have broad—based impacts on the chinese economy, that's not the case, that's not the intention. i think this is an example of what i said about how to address national securities concerns. address national securities concerne— address national securities concerns. , ., ., ~ concerns. the senior market anal st concerns. the senior market analyst told _ concerns. the senior market analyst told me _ concerns. the senior market analyst told me that - concerns. the senior market analyst told me that ms. - concerns. the senior market. analyst told me that ms. yellen did manage to smooth relations on the economic front. iii
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did manage to smooth relations on the economic front.- on the economic front. if you look at the — on the economic front. if you look at the us _ on the economic front. if you look at the us treasury - look at the us treasury secretary, i believe she's more connected compared to inaudible. national secretary for us. i would like to say that janet yellen actually talked positive outcome in terms of economic communication between us and china for the however, on the still reckon. in terms of trade between the us and china they've actually been growing until very recently that recent data suggested between february to may exports from china to the us down 25%. so our terrace really gnarly started to hurt the chinese goes?- really gnarly started to hurt the chinese goes? yes. if you look at possibly _ the chinese goes? yes. if you look at possibly due - the chinese goes? yes. if you look at possibly due to - the chinese goes? yes. if you look at possibly due to the . look at possibly due to the current global economic
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situation, the slowdown in exports from the china point of view. definitely if we look at the current situation in the last one year or closer to six months, that's still on terrace in place and the trumpet administration that caused the slowdown in exports as well. still there are those of the us that would like washington to a hard position on china. the us presidential candidate in florida governor rhonda santos and said he would take steps to revoke china's permanent normal trade relations status —— ron desantis. if you wanted 2024 white house race eddie step to remove with the congressional approval. the stage is a legal designation in the united states for free trade with a foreign nation. it's the start of a brand—new week and a bunch
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of a brand—new week and a bunch of events on our radar that are due to take place on wednesday. that is when we will learn what caused the bank of new england will be taking on interest rates. they mirror the us federal reserve aggressively hiking rates in the last couple of years for them and the cost of years for them and the cost of borrowing in new zealand is now at the highest level in 14 years, which is one of the reasons the economy fell into recession at the end ofjune. also from india, we're due to have the radius dues latest inflation readings although prices cooled it made the outlook is somewhat uncertain as unpredictable ones is raising concerns about food supply. rounding off the busy wednesday, inflation indicated from the world biggest economy the united states is that it will give us an idea of what the federal reserve will do next after it hit that pause button last month. the head of applied research and he said
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the time for the federal reserve to change policy has not arrived yet.— reserve to change policy has not arrived yet. we're probably auoin to not arrived yet. we're probably going to see — not arrived yet. we're probably going to see inflation _ not arrived yet. we're probably going to see inflation is - not arrived yet. we're probably going to see inflation is still. going to see inflation is still trickling down. but core inflation is still around 5%, which is more than twice as much his defence target. for the pets way, so i could change the pets way, so i could change the direction of interest rates in the short term. fix, the direction of interest rates in the short term.— in the short term. a lot of us banks are _ in the short term. a lot of us banks are releasing - in the short term. a lot of us banks are releasing their- banks are releasing their earnings as to what are you expecting in terms of the health of the banking sector? interesting to see for sure. investors have moved past the banking crisis, we see a lot of specific risk coming back up, a lot of individual bets on individual bank stock options. there seems to be in appetite back on betting on the banking sector right now.— sector right now. what to ask ou a sector right now. what to ask you a about _ sector right now. what to ask you a about china, _ sector right now. what to ask you a about china, the - sector right now. what to ask i you a about china, the economy has been releasing weak data for that in terms of a stimulus package are you expecting
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anything soon? we certainly ho -e anything soon? we certainly hope so- _ anything soon? we certainly hope so- it's _ anything soon? we certainly hope so. it's been _ anything soon? we certainly hope so. it's been an - hope so. it's been an underperforming market for three years. we had a disappointing measure so far. the trying to restart the economy and they really would like to see a sense of urgency on that one. we do see from data that we see from your ex on the derivatives that people are hedging asia, japan and china. i think there's a lot of doubt whether they can pull off. in doubt whether they can pull off. ~ ., . doubt whether they can pull off, a, . if ' doubt whether they can pull off, ii" ., off. in march 2019 in aircraft with 157 people _ off. in march 2019 in aircraft with 157 people on _ off. in march 2019 in aircraft with 157 people on board - with 157 people on board crashed minutes after take—off from the capital addis ababa office of the aircraft, brand—new 737 max was equipped with control software that was fatally flawed. boeing has since admitted responsibility but under a controversial to enact billion—dollar deal with the us government managed to avoid prosecution. today after years of delay in inquest will be given into the deaths of three of the british citizens
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who were aboard the plane. for their relatives it is a landmark moment. . ., , landmark moment. that was the da he landmark moment. that was the day he came _ landmark moment. that was the day he came to _ landmark moment. that was the day he came to see _ landmark moment. that was the day he came to see you - landmark moment. that was the day he came to see you when i landmark moment. that was the | day he came to see you when you were born. do you remember bringing him? that was special, wasn't it? he was so shocked he had a little brother.— had a little brother. members are sweet _ had a little brother. members are sweet to _ had a little brother. members are sweet to this _ had a little brother. members are sweet to this family. - had a little brother. members are sweet to this family. four| are sweet to this family. four years ago mark and deborah lost their son sam and their grief is still intense.— is still intense. hey talk to ou is still intense. hey talk to you and — is still intense. hey talk to you and tell _ is still intense. hey talk to you and tell you _ is still intense. hey talk to you and tell you stories. . is still intense. hey talk to l you and tell you stories. he was just a joy to have in our life. hejust made it so better, really. his left a really big hole.- better, really. his left a really big hole. this is where sam died- — really big hole. this is where sam died. at — really big hole. this is where sam died. at 25 _ really big hole. this is where | sam died. at 25 humanitarian work was aboard a boeing which crashed shortly after take—off from the iitthh is open capital killing everyone aboard. today's impressed focus on three british passengers. the
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plane like scene here was a second 737 max to crash in the space ofjust a few months. the first run by lion air crashed off the sea in indonesia killing 129 people. the aircraft, a new design had a fatalflaw aircraft, a new design had a fatal flaw but after the first accident it was allowed to keep flying. accident it was allowed to keep fl inc. ., accident it was allowed to keep fl in, . . . accident it was allowed to keep fl in. . , accident it was allowed to keep fl in. ., , �*, flying. that fact makes sam's brother furious. _ flying. that fact makes sam's brother furious. it's _ flying. that fact makes sam'sj brother furious. it's corporate brotherfurious. it's corporate greed that is get us to this point. it's killed so many people. it's hard to wrap my head around the fact that even initially wanted to happen that people were up in arms. boeing has admitted — people were up in arms. boeing has admitted responsibility - people were up in arms. boeing has admitted responsibility for i has admitted responsibility for the crash and paid fines and compensation were two and a half billion dollars. but under a deal with the us government its immune from further prosecution. that says the
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family is widely inquest matters. family is widely inquest matters-— family is widely inquest matters. �*, . . , matters. it's a chance be heard- — matters. it's a chance be heard- to _ matters. it's a chance be heard. to tell, _ matters. it's a chance be heard. to tell, let - matters. it's a chance be | heard. to tell, let people matters. it's a chance be - heard. to tell, let people know who sam — heard. to tell, let people know who sam was, what he stood for. and also — who sam was, what he stood for. and also to — who sam was, what he stood for. and also to publicly in a court here — and also to publicly in a court here the _ and also to publicly in a court here the wrongdoing that boeing are guilty of. | here the wrongdoing that boeing are guilty of-_ are guilty of. i recently spoke to one of _ are guilty of. i recently spoke to one of boeing _ are guilty of. i recently spoke to one of boeing top - are guilty of. i recently spoke l to one of boeing top executives and i asked him if he had a message for the bereaved families. message for the bereaved families-— message for the bereaved families. ~ ., , . , families. we have such deep sympathy — families. we have such deep sympathy and _ families. we have such deep sympathy and condolences l families. we have such deep| sympathy and condolences of families. we have such deep - sympathy and condolences of the 346 families that suffered loss. both in lion air and the ethiopian flights. for us as a company the commitment is, how do we ensure that this terrible loss results in greater still in improvements to aviation safety. in improvements to aviation safe . . v , in improvements to aviation safe. , .,, safety. that's 'ust words. em - safety. that's 'ust words. empty womb safety. that's just words. empty words. empty - safety. that'sjust words. i empty words. empty words. safety. that'sjust words. - empty words. empty words. he doesn't — empty words. empty words. he doesn't know what it's like. he can stand there and talk about life—changing, he doesn't know
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the meaning of the words. for this family _ the meaning of the words. fr?" this family grief and anger are still clearly very raw. they're hoping the long delayed inquest will put the focus back on sam whose lives are taken away. perhaps it is questions and even give them a bit of closure. before we go, shortly japan will start trading, this is where the ended on friday but of course on friday we saw a very strong us jobs data which investors have been watching closely. showing the resilience of the us economy. we will see where they trade. that is it for the programme. thank you for watching. bringing you different stories from across the uk. they are places of punishment and rehabilitation. what has been our prisons is a ticking time
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bomb. the daily pressures prison officers say creating a descending spiral that see staff numbers falling and disorder rising.— disorder rising. prison officers _ disorder rising. prison officers have - disorder rising. prison officers have been - disorder rising. prison - officers have been slashed up and down the country. they are threatened almost on a daily basis. , ., , ., _ basis. figures obtained by the bbc show _ basis. figures obtained by the bbc show that _ basis. figures obtained by the bbc show that in _ basis. figures obtained by the bbc show that in england - basis. figures obtained by the bbc show that in england and | bbc show that in england and wales over a five—year period the number of staff taking days off for mental health reasons rose from 1000 for hundred and 50 62 2080 two 2879. shoppers still from 137 to 309. tom hill was in the present service at 32 years he says austerity cuts so swathes of experience staff leave the service and the impact was clear.- leave the service and the impact was clear. when i “oined the 'ob impact was clear. when i “oined the “0b in impact was clear. when i “oined thejobrnthefi impact was clear. when i “oined the job in the 80s, * impact was clear. when i “oined the job in the 80s, if k impact was clear. when i “oined the job in the 80s, if you b impact was clear. when i joined the job in the 80s, if you had i the job in the 805, if you had around 40 or 50 when i left the job is to be lucky if i have forward that did turn up a lot didn't know what to do. the
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rison didn't know what to do. the prison reform _ didn't know what to do. the prison reform process prisons are too full and lower staff ratios increased by problems and pressure. for more stories from across the uk head to the bbc news website. bbc news, bringing you different stories from across the uk. the visitor centre sits on the summit but it's been
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closed since the autumn of 2019. and then a massive project to rebuild the rail tracks brought it to the top. but now the trains are back and that means it can reopen for business. that means it can reopen for business-— that means it can reopen for business. ~ , .., , business. when we first came up here the building _ business. when we first came up here the building was _ business. when we first came up here the building was really - here the building was really mouldy. it's been close, there is no air, ventilation to the building for three years so it's been a massivejob building for three years so it's been a massive job getting professional cleaners then, get in the building nice and clean. the generators, we needed to brand—new of the entity has been working hard to get power. before the trains and business could return the mountain railway has had to replace 1000 metres of track to the to the summit. the project is cost over £1 million. without the train they couldn't open. everything in the building relies on its supplies. but on but on a day such as today when it's wet and windy there is a sense windy there is a sense
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of relief from those arriving. wet and windy there is a sense of relief from the railway says it set for a wet and windy there is a sense of r railwayn wet and windy there is a sense of r railway says it set for a bumper summer and reopening the visitor centre will attract attract even more. especially for those visitor centre will attract even more. especially for those who prefer to let the train to take the strain. hello, i'm olly foster, ehre's what's coming up on sportsday. coming up on sportsday. hello, i'm olly hello, i'm olly foster, here's what's foster, here's what's coming up on sportsday. coming up on sportsday. the world number 0ne the world number 0ne iga swaitek does it iga swaitek does it the hard way to reach her first the hard way to reach her first wimbledon quarterfinal. england have kept the ashes wimbledon quarterfinal. series alive, beating australia in the third test. australia in the third test. and simply unstoppable, and simply unstoppable, max verstappen max verstappen wins the british grand prix to stretch his lead in the world championship. in the world championship.
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