tv Asia Business Report BBC News September 5, 2023 2:30am-2:46am BST
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for a summit that is expected to see progress on green infrastructure, food security and the digital economy. the ten members of asean have found it harder to agree on other issues, including territorial disputes and how to work with us and china. for a closer look at what we can reasonably expect from the summit, i spoke to someone who specialises in research and governance and financial innovation. basically, their main theme of, if you like, this year's summit, is really, sustainable economic growth. and that is the main issue. however, there are other issues that they need to deal with and some of them are difficult ones like issues in myanmar, and also integrating timor—leste as part of the asean group. at the same time, they're dealing with some of the issues with regard to the indo—pacific, which includes also the conflicts, if you like, and tensions
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in the south china sea. because of the existing complex dynamics that we are talking about, how difficult does it make for these countries when they have to, in a way, walk the tight rope and really pick sides between the us and china when they're trying to move ahead and forge a relationship? that's a very delicate issue. i mean, the asean group is trying to really remain neutral as much as they can, and they also need, in a sense, both g2 — we call them — the us and china — to assist them in many ways, including in trade, economic activities, foreign direct investment. so they're trying to basically pick up the best of these two in terms of trade, foreign direct investment, but they're mindful of regional as well as global geopolitics which are influencing the way in which the asean group has to relate to g2, if you like.
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and i think that that will remain an ongoing challenge for the asean leaders. the countdown to the 620 leader's summit this weekend has begun with news that chinese leader xijinping has decided to skip the event in new delhi. russian president vladimir putin will also not be attending. from mumbai, our india business correspondent now has more on what this means for india's big moment on the global stage. well, instead of president xi, it's premier li keqiang who will lead china's delegation to the g20. russia, meanwhile, will be represented by foreign minister sergei lavrov. xi's decision to skip the summit comes amid worsening relations between china and india, including a border stand—off and a new map release last week by the chinese that claims part of india as its territory. some analysts view this also as a snub to india as it tries to position itself as a leader of the global south. other experts say this is yet another attempt
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by beijing to stay away from western dominated forums. speaking to reporters, us presidentjoe biden said earlier he was disappointed china's president was not attending the summit. india, meanwhile, has downplayed the decision with government sources telling local media it won't affect the event. the absence of xi and putin is unlikely to make consensus building on tricky matters any easier, though. russia has said it will block the final declaration of this month's g20 summit unless it reflects moscow's position on ukraine. and any significant breakthroughs on issues like climate change and debt relief without the top leaders of these two major economies might also become difficult to achieve. to south korea now where the latest figures
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released a short while ago showed its economy expanded in the second quarter. however, as our next guest says, china's slowdown is still weighing on south korea's post pandemic recovery. well, if you look at exports that's contracted, and the fact that china accounts for 20% of korean exports, that's suddenly imposing a drag on the overall export sector. the korean data year—to—date — total korean export revenues are growing about i2%. but if we isolate exports to china, that's fallen by 25%. so that's a key driver of the export sector within this. and in the months ahead, what are some of the other key sets of data that you will be looking out for? we'll be watching the high frequency data, and so far, what we have seen so far still suggests that activity in korea has been sluggish. retail sales fell in july export data for july and august.
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the pace of decline has at least slowed. so in order for us to see a more meaningful recovery in korea's exports, we need to see a turnaround in the sector. so far, we're starting to see some signs of stabilisation, but the problem is inventories are still very high, so that's keeping prices low, and also constraining production. so until we see a more robust sector, that's the key to korea's export recovery becoming stronger. the boss of qantas will leave the airline earlier than expected. we will now exit the role immediately amid mounting controversies. you spent 15 years as chief executive of the airline. the airline is the subject of going public anger
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after reaping record profits despite a series of scandals. in the past two years it has face criticism. if you're 30, if you're over 30, chances are that you might be interested in personal finance. but i doubt you would describe it as "cool". videos about money, though, have been something of an unexpected hit on platforms like youtube and tiktok, with financial influencers, orfinfluencers attracting huge numbers of viewers. but with no real regulation or controls on who can give what advice online, is it safe to trust them? david harper has been fining out. my name is adriani lee, i'm 22 years old and this is financial audit. if you or i need help straightening out our person finance, you'd probably turn to a book like this, and it is absolutely not something that you would consider entertaining. but there is a group of people on youtube and tiktok
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who turned this into a whole new art form. if you thought that online influencers were aboutjokes and make—up tips, you're about to get a surprise. investment is you make more money off of it. right now, you're lows interest. you're paying off a credit card. how was i supposed to know i wouldn't make more money off of it. oh my goodness. the main thing to do a deep dive and go into their overall finances and improve and get out of the mess that is they've gotten in and put an example out there. what is it about this process that you think people find so interesting? this has been successful. you're one of many people doing this. what do you think that the secret of success it? i think it comes from a number of places. the entertainment side and a lot of people in situations like mine want to figure out ways to improve and get out of bad financial situations and kind of like the overall reality tv that western culture loves,
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but from the financial side. hey guys, welcome back! and it's notjust about saving money. there are plenty of money offering to help with investment, too, like sharon from india who runs the 1% club. we are a start—up who helps people receive financial independence by helping with investing and we also enable them to implement all of the financial planning tactics through tools that we custom create. how do you view the videos that you create? are they just a recruitment tool for the rest of the business? or do you just see them as content in their own right? for a person like me who doesn't have the licence and registrations, i need to prove myself to my countrymen that i can talk about it, i know my stuff. so creating a content creates a way for me to improve my credability after you watch my content and you realise how important financial planning is and you want to take that next step.
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i provide that next step. having not watched the whole thing through... i've looked at the videos in detail, but if i'm being honest, i'm not really part of that target audience. luckily, the bbc has someone who deals specifically with finance for younger people. the rise of these apps, tiktok, instagram, youtube — it's suddenly creating content for an audience where you've got high production, you've got graphics, you've got motivational music — whether it is fitness, fashion. there's loads of different things. and i guess personalfinance is just one of those things. it's just naturally attracting an audience, because you know, who doesn't want to have a few extra quid in their pocket. we need a bit of a note of caution, because these people are doing it with the best of their intentions but not necessarily qualified. you should be careful where you get the violence. finfluencers aren't regulated by anybody. anybody, myself, you, we could get a camera and speak into the camera about how we saved x amount of money doing this. about how we bought our first home by budgeting in this way,
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or the sort of investments that we invested in. you really need to be diligent when watching these videos. you can find more on that story and all of the other stories on the website. that's it on this edition of asia business report. thank you very much for watching. bbc news, bringing you different stories from across the uk. this is the village of carterton near staffordshire who take the tradition of a scarecrow competition to a whole new level. fix, scarecrow competition to a whole new level.— whole new level. a week's festival that _ whole new level. a week's festival that has _ whole new level. a week's festival that has been - whole new level. a week's. festival that has been going whole new level. a week's - festival that has been going on for hundreds of years to celebrate nominally the end of the holidays for what was our traditional copper mines in the area and we felt a scarecrow festival fitted area and we felt a scarecrow festivalfitted in area and we felt a scarecrow festival fitted in very nicely. it has been running for three years and to be fair, we have had a good number of scarecrows and it has got more competitive
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every year. this scarecrow was the design of my five—year—old little girl, so it is row, row your boat and if you see a crocodile don't forget to scream. crocodile don't forget to scream-— crocodile don't forget to scream. , . , ., , scream. they have been a bit loose with — scream. they have been a bit loose with the _ scream. they have been a bit loose with the definition - scream. they have been a bit loose with the definition of i scream. they have been a bit loose with the definition of a | loose with the definition of a nursery rhyme. we loose with the definition of a nursery rhyme-— loose with the definition of a nursery rhyme. we have a lot of fun with it- _ nursery rhyme. we have a lot of fun with it. it _ nursery rhyme. we have a lot of fun with it. it is _ nursery rhyme. we have a lot of fun with it. it is about _ fun with it. it is about bringing people together and getting the kids to do something they enjoy, bring people together, raise money and get a community feel. humpty dumpty has all the kings horses_ humpty dumpty has all the kings horses and all the kings men. i drove _ horses and all the kings men. i drove past _ horses and all the kings men. i drove past if you try before i notice — drove past if you try before i notice them. it was good to discover_ notice them. it was good to discover them hidden away. for more stories — discover them hidden away. fr?" more stories from across the uk head to the bbc news website. hey i'm stephen, with the catch up! tonight: weight loss drugs, festival washouts and a mozart
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masterpiece with dogs. we're starting with the crumbly concrete in schools and colleges. some students are being taught in marquees orfrom home because of raac — a cheaper, weaker type of concrete, used in more than a hundred schools. but there are fears some of it could collapse. the prime minister's denied he's to blame for taking money away from a rebuilding plan. and here's what the minister in charge of education was caught saying, after an interview earlier. does anyone ever say, you have done a bleep good job because everyone else has sat on their bleep and done nothing? no signs of that, no? gillian keegan has since apologised and says a list of affected schools will be out this week. labour's called the whole thing a "farce". some other stories now. northern ireland's top police officer has resigned. simon byrne's been under pressure after some recent controversies, including a leak of thousands of officers' personal data. next, a new weight loss drug can be prescribed on the nhs from today.
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it's called wegovy and makes you feel full so you eat less but supplies are still limited. and if you've been to a festival during the summer, this is probably your worst nightmare. non—stop rain turned burning man in nevada into a mud bath. but thousands of people stuck there for days can finally now leave. time to leave you with 10 seconds of a musical masterpiece. of a musical masterpiece. dogs barking yes, this is the danish chamber orchestra starring three dogs. cookie, sophus and sica are basically the beyonces of the dog world. you're all caught up, have a good night!
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hello and welcome to sportsday — i'm sarah mulkerrins. coming up on the program: carlos keeps his cool in new york — as alcaraz eases in the quarterfinals of the us open. a swedish surprise for europe's ryder cup team — captain luke donald picks new pro ludvig aberg as one of his six wildcards. and let the countdown commence: just four days to go until the rugby world cup starts. we'll be looking ahead to a highly anticipated tournament. welcome to the programme. we start at flushing meadows in new york — where the world number one and defending champion carlos alcaraz has eased through to the quarter finals of the us open.
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he was up against italy's matteo arnaldi in the fourth round — a player ranked 60 places below him — and it showed. alcaraz winning in straight sets injust under two hours. i played the solid and fewer mistakes and i played my game. so i am very happy with the performance in general. world number eight andrey rublev is also through — beating the last remaining british singles player in the draw, jack draper, in four sets. in the women's draw, there was a scare for wimbledon champion marketa vondrousova — she needed to come from a set down to beat 21—year—old american peyton stearns to reach the quarter finals. meanwhile the woman vondrousova beat in that wimbledon final is out. 0ns jabeur losing to the 23rd seed qinwen zheng in straight sets. it's the furthest zheng has ever gone in a grand slam.
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