tv Asia Business Report BBC News July 31, 2023 2:30am-2:46am BST
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italy's defence minister says rome made an "atrocious decision" when itjoined china's belt and road initiative four years ago. guido crosetto says it's done little to boost exports. and that italy needed to work out a way to get out of the deal without harming relations with beijing. italy was the first major western country to join the bri in 2019. meanwhile on the weekend the italian prime minister said a decision on the contrary�*s continuing participation on the rbi is under consideration. the paradox with the belt and road initiative is that we are the only nation in the g7 and the european union, but we are not the nation that has the best trade with china. that means you can have good relations with china without the belt and road initiative. that is something, in my opinion, that
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has to be discussed with the chinese government and inside the italian parliament. anyway, we will take a decision before december. it is the start of a brand—new week china has released its latest manufacturing purchasing managers index for the month, coming out at 49.3, slightly betting estimates but a contraction. officials are due to announce new measures to boost domestic consumption later today. and on tuesday australia's central bank will unveil its latest rates decision. the central bank earlier hinted it could hike the cost of borrowing once again as inflation continues to hover around 6%. later this week as well the bank of japan will release the minutes from its latest meeting where authorities have pledged greater flexibility over its closely watched bond yield control policy.
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i spoke with an analyst who gave us his expectations. inflation has been above the target of 2% for 15 consecutive months now so how much longer do they want to see it go by? that will start affecting consumer demand which is a problem because 70% of the gdp injapan is driven by consumer demands, so if we are not seeing that pick up, we're going to have a softer or harder landing than we think. the boj i think it is now a little bit flexible and might have to start fighting inflation soon. we're looking at the us now where there may be a soft landing after all of this but what can you tell us about the global economy? the global economy is a little bit divergent now. yes, the us is strong and keeps beating estimates every time so we might have a no—landing scenario there. europe is a little vulnerable because of the energy crisis
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which is still — oil prices are still at $83 or $84, so it could still flare up, europe is still a bit fragile. and asia is a little bit all over the place, so you've had the region that opened up to last after the covid lockdown, so it is already delayed, and you have a lot of debt, us dollar denominated debt mostly from chinese property companies that is also keeping the mood down and interest rates being so high, that is a big financing cost for them. it will be tough for asia. they really need the global economy, trade and growth to go back up and that's not happening. millions of people in northern china including the capital beijing are under a red alert for heavy rain. officials have warned of potential floods and landslides in what looks to be the first such heavy rain warning since 2011. this is as the storm continues to sweep over the country, forcing thousands of people to be evacuated from high—risk areas in biejing.
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meanwhile, it's estimated that india has over 20% of the global semiconductor design talent and that has recently attracted investment from major players like amd and micron. about a year and a half after india announced a $10 billion incentive package for chip companies, investments finally seem to be coming in. after micron�*s $2.7 billion commitment to set up a semiconductor assembly and testing plantjust a few weeks ago, amd said last week it will open its largest resurgent development centre in bengaluru. prime minister modi has said a 50% assistance to set up chip manufacturing in the country will mean india could see exponential growth in this sphere. foxconn says it is optimistic about the direction in which india is headed on chip making. but industry watchers are more cautious.
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they say while the government will allow india to strengthen, its presence in the design, assembly, and packaging ends of the chip—making value chain, attracting manufacturing investment will need more work. for companies to commit to technology transfers and set up fabrication units, india will need to undertake structural reforms such as improving its business climate and trade linkages. the country has made some headway on these fronts but there is still a long way to go. to the us, where senators are looking to summon developers and experts for hearings later this year on possible legislative safeguards over the issue of artificial intelligence. last week big tech players like microsoft, openai, and google announced the formation of a group to look at how the future of ai applications are developed. earlier i spoke to lan guan of accenture on the sort of guardrails needed. first of all, we have to understand the different risks. for example, data security
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is not a new topic in the digital age, but generative ai has elevated the threat. when we ask ai tools like chatgpt to answer questions or perform tasks, we may also share sensitive information and put it in the public domain. thatjust means that there is a heightened chance of such data being used, broadcast far more widely to an audience that includes competitors, customers, regulators, and board members. actually, research done by cyberhaven, a data security company, found that 11% of data employees paste into ai tools is actually confidential. so, in terms of the guardrails, in accenture we actually believe that there is no one—size—fits—all. a holistic approach is very much needed. beyond regulation and governance, yes, it starts with regulation by governments and regulatory bodies.
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one of the research we have also recently done, a survey which found nine in ten apec organisations support some level of government regulation around ai. still staying on the topic of tech, one of the most famous centres for science in the world, cern, on the border of switzerland and france, its high—energy physics research has helped unveil some of the secrets of our existence. the bbc visited the facility and met some of the robots used there. i am eloise matheson, a mechatronics engineer at cern. welcome to our robotics workshop. this is one of our modular robots that we use regularly for inspection, maintenance or repair tasks in the excelerator complex. it has mecanum wheels that can move side to
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side easily. we might send robots to an area where a human might not want to go, either due to risk of oxygen depletion or gas leaks, or even if there is the presence of radiation. it has lots of sensors, mostly we use cameras, to give what we call telepresence, so the operator has a more intuitive way of controlling and interacting with the robot. here you are looking at the beginnings of the prototype, which could be where the future of cern is going to build a new excelerator that'll be 100km in circumference. in that environment robots will be really important both as tools you can use for inspection, maintenance, or repair, but also as first responders. this is a novel robotic system we are building that once that inside of radiofrequency cavities that will acceleration to the beam and it's really important that the inner surface is perfectly machined so we built this robotic system to take thousands of close—up
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photos using a liquid lens camera. here you have a robot and you can imagine it's useful if we need to access an area that is very cluttered. when you drop it from a crane you are hanging off cables, so of course you have sway and momentum from everything going around, but you have these two arms, like when you're a human your arms balance yourself. the arms can stop the swaying motion. finally, it looks like x marks the spot where twitter once stood. elon musk�*s firm has put up this logo on a roof of its san francisco headquarter. it's after the messaging platform underwent a name change earlier this month when twitter was rebranded to just simply x. not everyone is happy, especially in san francisco where some residents have complained about the intrusive lights. if you can't get enough of the rebranding of the platform formerly known as twitter, you can read all about it on our website. specifically, how elon
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musk wants to be more like wechat, an all—in—one app used widely in china. you can catch the full story on bbc�*s website. that's all we have for you in this edition of asia business report. thanks for watching. iam i am monica miller. voice-over: bbc news, bringing you different stories from across the uk. safe and sound asleep. these puppies are lucky to be here. their mum was a stray, rescued from the streets, heavily pregnant, clearly traumatised. when she arrived with us, she was so nervous to the point where she did not walk for the first week. she wouldn't stand. she was so nervous,
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she wouldn't go anywhere, particularly with men but with everyone, basically. staff at the rescue centre named the nervous collie roo and a foster family was found at this farm near helston where she could have her litter of seven pups in peace and quiet. things aren't perfect for her. she still has a long way to go, but coming to a nice, quieter environment than being in kennels has been fantastic for her. she has come along really well and the next stage will be keep feeding and growing the puppies and when they are old enough we will find them all homes. and roo as well. but for now, she is really happy here, she has settled well. with tens of thousands of dogs in uk rescue centres, the national animal welfare trust says roo�*s story is an important reminder to think before getting a pet. voice—over: for more stories from across the uk, head to the bbc news website.
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voice-over: bbc news, bringing you different stories from across the uk. mason and bastien are both autistic. bastion is in the process for adhd as well and mason has got a development delay. they're both still in nappies. for eight years emma has campaigned for getting more changing places in toilets built because poor facilities has often meant leaving home could be a problem. it has shortened our days out, so we would go out and if one of the children would make a mess we have to come home straightaway. when she started the campaign in norfolk, there werejust four changing places. how many are here now? 24? 24. more are coming? more are coming, there should be 30 when the next couple of years. but... still not enough.
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never enough so people can go out and not have to think about going somewhere because of the changing places. the issue of facilities for people with disability is a big one and now a report has highlighted the spending power of disabled people. £300 million a year, just in suffolk. what we are calling for is for suffolk to become an exemplar destination for accessibility and inclusion, and to do that we have got move things on. voice—over: for more stories from across the uk, head to the bbc news website. hello, i'm olly foster. here's what's coming up on sportsday. colombia cause the biggest shock of the women's world cup so far as they beat two—time champions germany. so far as they beat the co—hosts new zealand have been knocked out. a goalless draw with switzerland not enough. one more day in the ashes series. it's set up to be a thriller at the oval, unless the weather has its say.
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and eight in a row for verstappen. the red bull driver is romping towards another world title. welcome along. we'll start with football and a dramatic day at the women's world cup, there was despair in dunedin where the co—hosts new zealand were knocked out. there were wins for norway and morocco and a shock in sydney — the two—time champions germany can't afford another slip—up after losing to colombia. joe lynskey reports. new zealand will be a host nation flooded with tears tonight. fulltime in dunedin, new zealand exit their own party. the co—hosts are out at the group stage. a 0—0 draw took switzerland through and in auckland gave norway a chance.
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