tv Asia Business Report BBC News August 7, 2023 12:30am-12:46am BST
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after three years, and the latest sign of warming times. first is gearing up to be a big week on the data front. we'll tell you what you can expect. hi there, welcome to asia business report, with me, mariko oi. china and australia seem to be moving beyond trades because over the weekend, beijing ended tariffs on australia and mali. —— australian harley. it follows the resumption of trade in products like coal and timber,
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but in not all restrictions have been restricted. some remain on items like lobster and wine. i spoke to clive russell, who explains what's changed between beijing and the changed between bei'ing and the centreleft changed between beijing and lie: centreleft labour government was replacing the right—wing government. that allowed a reset of relations between beijing and camera, which had been rocky. there had not been benefit for other party from the action china took. it cost china a lot of money, so it wasn't really a win for them and it didn't hurt australia as far as australia's miners were able to find alternate markets and didn't suffer that much at all. ~ ., ., ., ,
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all. whether or not any businesses _ all. whether or not any businesses that - all. whether or not any businesses that have i all. whether or not any . businesses that have been affected because of this tariff as beijing had hoped? it affected because of this tariff as beijing had hoped?- as bei'ing had hoped? if you look as beijing had hoped? if you look at the _ as beijing had hoped? if you look at the tariffs, _ as beijing had hoped? if you look at the tariffs, some - as beijing had hoped? if you look at the tariffs, some of. look at the tariffs, some of which are still in place, there are producers that were very exposed to that and they were quite badly affected by that. certainly a lot of lobster fishermen struggled to solve their catches and they did became reliant on chinese markets. that was small amounts of money in a relatively small part of the overall economy. so, it was more... the big one was cold. a very significant trade. coalwas was cold. a very significant trade. coal was more. was cold. a very significant trade. coalwas more. so, the barley and coal miners weren't as affected. there was trade destruction, but australian coal miners found willing markets in india particularly and in other parts of southeast asia like vietnam. they were relatively unaffected, and the dislocation of the trade flows
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since the prices above coal and barley more. since the prices above coal and barley more-— barley more. clive russell speaking _ barley more. clive russell speaking to _ barley more. clive russell speaking to me. _ barley more. clive russell speaking to me. one - barley more. clive russell speaking to me. one of i barley more. clive russell. speaking to me. one of the world's biggest companies saudi aramco is do to report its reports later. echoing the trend across big oil. that's because we saw fossil fuel prices weekend, but that has been increasing, especially after production cuts by both saudi arabia and russia. we're also looking ahead to a few data points. japan will soon release the rate is reading on household spending for the month ofjuly. we'll see if the consumer prices were having an impact. china's economy is in
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focus on tuesday with trade figures due forjuly. global demand has left a drop in exports in the month ofjune, and midweek, we'll get the make insulation from the world's second biggest economy as china continues to struggle for post—pandemic rebound. rounding off and inflation will get us reading on thursday. any increase in price growth could pressure the american central bank, the federal reserve, to raise rates in september. earlier, i spoke to tim murray, and he explained what he's expecting. i and he explained what he's “peeling-— and he explained what he's expecting. and he explained what he's exectina. ., , . ., expecting. i would expect it to aaain be expecting. i would expect it to again be slightly _ expecting. i would expect it to again be slightly lower- expecting. i would expect it to again be slightly lower than i again be slightly lower than expectations. right now, what's positive about inflation in the us is that a lot of it was generated by housing prices. so, shelter is about 40% of the cpi number. we know that's
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coming now. it actually impacts inflation and the house prices have been coming down or actually flattening for the last 12 months.— actually flattening for the last 12 months. we also have the 'ob last 12 months. we also have the job last _ last 12 months. we also have the job last week _ last 12 months. we also have the job last week that - last 12 months. we also have the job last week that came i last 12 months. we also have | the job last week that came in cooler than before. what is mean in terms of the feds's next move?— mean in terms of the feds's next move? . �*, . ., , next move? that's a really good question- _ next move? that's a really good question- i _ next move? that's a really good question. i think— next move? that's a really good question. i think that's - next move? that's a really good question. i think that's one - question. i think that's one more hike left. i don't know if it will be in september or november. but you have to recognise that we will have two more reports before we get to that next decision. we'll also have two more inflation reports, so there's a lot of data yet to come. the one thing i think you can be sure about is that we won't get cuts anytime soon. that's one thing that china has been very clear about. do not expect cuts until 2024. is about. do not expect cuts until 202a. is there will more hike
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in the cards? probably. i wouldn't expect a whole lot more than that. meanwhile, in the second _ more than that. meanwhile, in the second biggest _ more than that. meanwhile, in the second biggest economy, | the second biggest economy, it's a very different picture. slower than expected. we haven't really seen a massive package announced by beijing, so what are you expecting? i think what we'll continue to see is something relatively modest from beijing. i think the important thing to recognise, and this is something that markets have had trouble with, chinese stimulus is not going to be the same way. it's no longer going to be focused on the market. that's what i would guess. i think they've been very clear that what they would rather do, rather than really worry about specific economic growth targets, they're probably more concerned about where they go, what they call common prosperity, which has to do with notjust having wealth
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increase, but having wealth and more broadly distributed. i think they'll be focusing on measures that do a betterjob of that. if you pump up the property market, that makes housing less affordable. tim murray speaking _ housing less affordable. tim murray speaking to me earlier. summer holidays are in full swing around the world, but many places are facing a labour shortage after the pandemic. places like croatia. the country is looking to asia and its workers to fill operational�*s host is bigger than ever. a record number of visitors arrived in the first half of this year and this summer is set to break all previous records. that's great news for creation of�*s economy and around the fifth of its gdp comes from tourism. seems to be giving it another boost. one
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problem. finding staff to serve all the sons acres is becoming all the sons acres is becoming a severe issue. as a real shortage of seasonal workers — locally and in the traditional recruiting grounds of other former yugoslav countries. many businesses are starting to look a lot further afield. staff from places like nepal, bangladesh and the philippines are feeling the apps. taking on workers from outside the region is a new experience for many employers. they're grateful employers. they�* re grateful they employers. they're grateful they can find personnel. translation: they are as lovely people as anyone we can find here. they come from work, do the job and we don't have any problems. we are working together like family. are working together like famil . �* , are working together like famil . v . are working together like famil. , family. it's an opportunity. waues family. it's an opportunity. wages may _ family. it's an opportunity. wages may be _ family. it's an opportunity. wages may be a _ family. it's an opportunity. wages may be a quarter i family. it's an opportunity. . wages may be a quarter lower than the eu average, but they're still considered a higher than at home. nepal is not too much _ higher than at home. nepal is not too much give _ higher than at home. nepal is not too much give all - higher than at home. nepal is not too much give all jobs - higher than at home. nepal isj not too much give all jobs and not too much give alljobs and salary. — not too much give alljobs and salary. so _
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not too much give alljobs and salary, so we not to feel for our— salary, so we not to feel for our dreams.— salary, so we not to feel for our dreams. and ratio, you can have the _ our dreams. and ratio, you can have the same _ our dreams. and ratio, you can have the same work— our dreams. and ratio, you can have the same work and - our dreams. and ratio, you can have the same work and earn l have the same work and earn much — have the same work and earn much better_ have the same work and earn much better salary. - have the same work and earn much better salary.— have the same work and earn much better salary. despite the arrivals from _ much better salary. despite the arrivals from asia, _ much better salary. despite the arrivals from asia, businesses l arrivals from asia, businesses of all kinds are still chronically short—staffed. croatia's unemployment rate is currently lower than it's ever been and employment agencies want the authorities to make it easier to import workers. everything is about two months ago until we get working licence, when working licence is finished, then we send it to the embassy. the embassy may be one months, it may be three months. it depends on the air. and if it continues to pull the countries like this, workers down like they will need all the workers they can before you go, if you've been wondering it does look and might actually happen. elon musk has said a cage match
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between mark zuckerberg will be livestreamed on next. formerly known straighter. he said all proceeds will go to charity for veterans. —— on x, formerly known as twitter. the two heads have been egging each other into a mixed martial arts cage fight in las vegas sincejune and if the fight does go ahead, the 39—year—old owner of meta is the clear favourite. mr zuckerberg is known to be a martial arts enthusiast who has taken parts and professional competitions. also, elon musk has been tweeting or rather posting on x that he has been training as well. let's quickly show you to pan's and ak, which is going to start writing shortly. that is it from the programme. thank you so much for watching.
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bbc news — bringing you stories from across the uk. jamie reeve is showing me a video that no parent should ever have to film. it's of his eight—month—old daughter hallie on an emergency flight from spain, where the family had been on holiday, back to birmingham — where doctors then diagnosed her with a rare form of leukaemia. since lastjuly, it's been hell. i don't think there's been a week that's passed where we haven't been in hospital. i think it's been the most we've done about three or four days. hallie's had two stem cell transplants, the most recent one in april. neither has worked. her medical team says they're not prepared to do a third transplant. in all honesty, i thought last week, when we weren't seeing any of her accounts, i was getting really worried and... ..started to think in my mind maybe that could be it. —— her accounts come up. —— her counts come up. herfamily has been
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told their best option might be to pay for a highly specialised treatment called car t—cell therapy in america, as it's not currently available on the nhs. but the treatment�*s expensive and the family's now on a mission to raise £1 million. the clock is ticking, time isn't on our side, so the sooner we can get over there, the better. for more stories from across the uk, head to the bbc news website. bbc news — bringing you different stories from across the uk. puppy whines safe and sound asleep. these puppies are lucky to be here. their mum was a stray, rescue from the streets, rescued from the streets, heavily pregnant, clearly traumatised. when she arrived with us, she was so nervous to the point of she didn't actually walk for the first, i'd say week. she wouldn't stand, she was just so nervous, she wouldn't go anywhere — particularly of men,
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but with everyone, basically. staff at the rescue centre name the nervous collie rue, and a foster family was found at this farm near helstone, where she could have her litter of seven pups if things aren't perfect for her, things aren't perfect for her, she's definitely still got a long way to go, but coming to a nice quieter environment from being in kennels has been fantastic for her. she's come a long really, really well. and the next stage will be obviously keep feeding, keep growing the puppies, and then, when they're old enough, we will be finding them all homes, and obviously rue as well. but for now, she's really happy here, she's settled well. with tens of thousands of dogs in uk rescue centres, the national animal welfare trust says rue's story is an important reminder to think carefully before getting a pet. for more stories from across the uk, head to the bbc news website.
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bouncing back — matteo vanderpool recovers from across to become a world champion. —— from a crash. good evening, welcome along to sportsday. the usa have for long been the dominant force at the women's world cup, but the defending champions have suffered their worst ever to performance of the competition being knocked out the last 16 stage by sweden. if an s 0—0 in melbourne after normal time, despite the americans dominating the 90 minutes. the size to be separated in extra time with penalty shoot—out level at four — four. the mist from kelly o'hara gave a chance from kelly o'hara gave a chance from lena hurley to win from sweden. the line technologies
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