can foreign investment sold china's growing economic blooms? we look at beijing's attempt blooms? we look at beijing's attemthohn overseas capital attempt john overseas capital and attemthohn overseas capital and whether foreign businesses are buying it. and the bespoke handmade suit makes a post pandemic comeback, proving that never go out of style. welcome to asia business report. i am monica miller. we begin in china. and with the mounting signs that the world's second largest economy is slowing down. 0m a surprise move on tuesday, beijing said it was no longer going to release youth unemployment figures, which reached record highs injune. meanwhile, the country's central bank has also cut the cost of borrowing in an attempt to boost growth. and on the internationalfront, beijing is trying to encourage more foreign investment at a time when relations between china and the us are strained. daniel picard is an international trade and security expert and he says the biden administration's

de—risking strategy poses yet another threat to foreign businesses operating there. i think the biggest challenge right now is the clear message from the united states government coming right out of the white house that they're encouraging us businesses to essentially what they call de—risk from china, that they're encouraging us businesses to limit investment in china, especially when it has to do with industries that touch on national security concerns. one of the things that china had introduced over the weekend, they're offering tax incentives as well as help with visas. but is that going to work? i don't think so. not right off the bat. and i think the state council recently issued some guidelines in an attempt to essentially make investments in china more attractive. and i think it shows us three major things. the first is that it demonstrates that china knows that it's got a problem. its economy is slowing.

it's got a housing bubble, unemployment is particularly high and foreign investment is beginning to slow down. the second thing is they're saying the right things, that they're providing tax incentives and they're trying to they're indicating that they're going to protect intellectual property rights and they're trying to make the country look more attractive for foreign investors. but i think the third thing is the most important, and that's us companies and multinational companies across the board pay more attention to what china does than what china says. so china has been saying for a while that they're open for business, that they're encouraging foreign investment, but their actions haven't always matched their words. a lot of companies there still want to do business with the world's second largest economy. are they willing to pull back? i think they are willing to pull back. i think us companies and multinational companies, they're they're willing

to be flexible. they'll make the changes they can pull back if they have to. they'll invest more if they want to. but more than anything else, they can't stand the risk. and as the relationship between china and the united states continues to deteriorate, that risk starts to seem too big. and companies have to start taking a look at what their other options are. if it means moving other countries in the region near—shoring or moving it back to their home country. it's just the threat or the risk that comes from the uncertainty. that's the thing that is a difficult pill to swallow. now, speaking of the challenges faced by international businesses with the president in china, canada's corporate ethics watchdog is investigating ralph lauren over allegations that its operations in china benefited from the use of forced labour. the canadian ombudsperson for responsible enterprise said that it has published an initial report after

complaints were filed by a group of organizations against the polo shirt maker. china has denied allegations that uighur minority inmates are being used as forced labour. well, china's economic misfortune is turning into an opportunity for some of its neighbors. a new report has revealed that india has just emerged as the second largest mobile—producing nation in the world, and that's at least partially due to apple's shifting manufacturing away from china. our india business correspondent nikhil inamdar has more. well, a couple of major factors are driving this growth. one is the massive internal demand for phones as data becomes cheaper and disposable incomes rise. and second, of course, is a push by the indian government to increase local manufacturing through schemes that are incentivising companies to produce domestically. india's also been hiking import duties on fully built mobile phones in order to promote more local manufacturing and value addition. now, according to counterpoint

research, which has put out this report, nearly 2 billion made in india, mobile phone units were produced in the country between 2014 and 2022, and nearly all of the phones shipped or sold domestically were made locally, compared to just about 20% of them back in 2014. a lot of this growth in recent years is, of course, being driven by the likes of apple, which has been betting big in india as it diversifies supply chains away from china. it's already tripled its production from india in the last year and may move a quarter of iphone production to the country by 2025, according to the us. wall street bankjp morgan. the shares of vietnamese electric car maker vinfast has soared. the stock opened at $22. now that's more than double the $10 per share agreed

with vinfast�*s spac partner black spade acquisition. it surged further during the session, ending at more than $37. the merger with the special purpose acquisition company gave vinfast a listing in the us market, where it's hoping to take on industry leader tesla with a $4 billion factory currently under construction in north carolina. well, a year ago today, president biden signed into law america's first serious attempt to tackle the climate crisis. a year ago today, president biden signed into law america's first serious attempt to tackle the climate crisis. but the move has ruffled feathers as it includes protectionist measures that might hurt europe's green industry. the bbc�*s michelle fleury has more. the name inflation reduction act is confusing, since most experts agree it has done little to lower inflationary pressures . so why is it called that? well, let's just say it fit the politics of the day. when it was signed into law a year ago today, prices were rising at their fastest pace in a0 years. but if it doesn't bring down inflation, then what exactly

does it do? according to president biden, who's on a 3—state tour this week, it's helping to combat climate change, create jobs and lower people's health care bills. and since i took office, the private sector has announced more than $3 billion in investments, not million, billion in investments for wind energy manufacturing in america. the law, which was signed without a single republican vote, offers tax breaks to companies developing clean energy technology. the rush to take advantage of those credits has delighted white house officials less so america's allies like the eu and uk, who say it puts them at a disadvantage. a law that was crafted in washington being felt not just by american industry but around the globe. well, during the pandemic, dress codes were relaxed and most men adopted leisurewear or even pajamas instead of business suits.

but once restrictions were lifted, a renewed interest in classic dressing meant that sales of suits and sports jackets once again took off. anders edholm has more. newsreel: introducing the best stress treat in the world. - savile row was founded here by the first and most famous taylor of them all, mr henry poole. a few years after the battle of waterloo. my name is simon cundy. i'm owner and managing director of henry poole & co here at 15 savile row. this year we're looking certainly a good start in the year for the first half. we're going to see a little perhaps a little change, i'm sure. as you know, the pent up demand has is declining a little bit, shall we say. but nevertheless, people are aspiring to buy something really special for them. and it's a similar story further down the road. when we look at the figures from pre—pandemic, i have to think with with open

arms and think and say, "yes, it's very much back there and improved from pre—pandemic," which i have to say is rather heartening. but despite this, last year, the uk's national statistics agency removed men's suits from the basket used to calculate inflation. but fear not, they have been replaced with a formal jacket or blazer. we have found that we are making a lot more sports jackets, blazers, whether it be formal tweeds or lightweight wool mesh jackets, and they have become very popular throughout all regions where we do business in. we certainly are seeing a change in dynamic of a wardrobe. you know, they would have been buying four suits and two sports jackets. nowadays it's more sport, sports jackets and two suits, but nevertheless, they're being cautious of what they're buying. big part of the business now, i would say, is about 70% is overseas market with a 30% uk market. it does change a little bit from year on. but, you know, the biggest part of that 70 is going to be

america, japan. but shopping on savile row is not for the faint—hearted. a 2—piece suit from one of those tailors can cost upwards of $8,000. but both tailors insist that a handmade savile row suit is an investment for the future and that cost per wear can be even lower than that for a ready—to—wear one. 0ur suits are built to last. if they're looked after over the course of their lifetime, they can last 20—30 years. they can be adjusted if weight is lost or weight is gained and if required with with some families, they can be passed on to the next generation. so maybe, just maybe, one of the suits being cut here is still walking around somewhere in london and that's it for this edition of asia business report. i'm monica miller. thanks for watching.

different stories from across the uk. buckets, spades and plastic seahorses. it's all been abandoned on the beaches of bedlington in recent weeks, a colourful but depressing sight. the litter pickers believe the problem is more acute. �* , believe the problem is more acute. �*, , , ., acute. it's probably a reflection _ acute. it's probably a reflection of - acute. it's probably a reflection of that - acute. it's probably a - reflection of that takeaway throwaway attitude we have. people in the olden days is to take the buckets home every year and bring them back every year. year and bring them back every ear. �* , ~ ., ., year and bring them back every ear. 2 ~ ., ., year. it's known that some local have _ year. it's known that some local have ingested - year. it's known that some | local have ingested harmful plastic waste and this image from the lincolnshire wash is another powerful reminder that even a simple frisbee can bring misery. the fight to keep beaches clean in this town involves numerous groups and individuals. while we still having conversations about plastics in our environment because watch wildlife programmes, they see the issue. are they notjoining the dots. i really don't know. people

come here for a good day out. maybe the last thing on their mind is collect everything that's on the beach. they grab the kids and just go.— the kids and 'ust go. these lastics the kids and 'ust go. these plastis — the kids and just go. these plastics are going - the kids and just go. these plastics are going to - the kids and just go. these plastics are going to a - the kids and just go. these| plastics are going to a local charity shop. they will be back on the beach again, of course, but the hope is that second time around, they will be taken home. hey, i'm stephen with the catch up. we're starting with an update on a story we told you about yesterday — the homophobic attack on two men outside a popular gay bar in south london. police have now released this image of a man they'd like to speak to. the photo was taken outside two brewers in clapham at the time of the stabbings on sunday night. the victims in their 20s and 30s are now out of hospital. the mayor of london, sadiq khan, called the attack abhorrent and says there is no place for hate in london.

next up, the women's world cup, where spain are into their first final after beating sweden 2—i. the captain, 0lga carmona, scored a cracking goal right at the end to seal the win. they'll play either england or australia in the final. some other stories now, and this one sounds like it's straight out of ajames bond movie. three people who were accused of spying for russia have been arrested and charged in the uk. they're all from bulgaria and had fake ids for nine countries across europe. they're due to go on trial in london nextjanuary. and this probably isn't what you want to hear if you're back to uni in september. more strikes are being planned by the university and college union as part of a dispute about pay. it's been going on for months, meaning exams and assessments haven't been marked and some students haven't been able to graduate.

and we're going to leave you with 10 seconds ofj—lo karaoke. she belted out a few tunes at a bar in italy over the weekend where she's on holiday. definitely an upgrade on the holiday karaoke we're used to. you're all caught up. have a great night.

hello and welcome to sportsday. iam i am tulsen tollett. england and australia prepare to face off in the women's world cup for a place in the final. spain have booked their place already with a late winner against sweden. and a big blow for manchester city — kevin de bruyne could be out for up to four months. hello there. welcome along to the programme. the countdown is on to a massive game in the women's

world cup — england will take on hosts australia in front