counting down to a meeting between the leaders of the united states and china. we look at what's at stake for the world's two largest economies. plus... cleaning up what's left behind. the nuclear industry in the uk faces an existential question. hello and welcome to asia business report. i'm monica miller. world leaders are arriving in san francisco for the ongoing summit of the asia pacific economic cooperation, or apec. the us presidentjoe biden has landed there and so has his chinese counterpart, xijinping. they're set to meet for talks on the sidelines of the summit. the leaders of the world's two biggest economies have a lot to discuss not least their ongoing disputes over trade, technology, taiwan and fentanyl.

the bbc�*s james clayton is in san francisco and he's filed this report with the latest. apec has started here and it is a huge moment for the city of san francisco, the biggest summit to be held here since the united nations charter was signed here in 1916. this is a huge economic summit, we are talking about more than 50% of all of the worlds trade belongs to the 21 nations who will be attending here this week. we are talking about 40% of the worlds population. so it is a big economic conference, but by far the biggest ticket item here is the meeting between president biden and his counterpart in china, xi jinping. relations between them two nations have not been good as late, they last met last yearin as late, they last met last year in indonesia and since then you have had that moment

where the american government shot down the chinese spy balloon and growing tensions in the south sea and alsojoe biden ramping up a ban on high level chips which really hurt the chinese economy. the diplomatic tensions between those two countries, but there has been a foray in recent times and there have been a number of discussions recently. there was no real indication that any high—level agreements had been made here this week, but there are hopes that at least the country's militaries between china and america would actually begin speaking again and there may be some announcements around things like artificial intelligence and the prediction of fentanyl. a lot of the fentanyl on the streets of san francisco comes from china through the borders of mexico so there may be a few things that countries can agree on but there is not much hope from what i can see that there will be any high—level diplomatic agreement here.

let's zoom in on the us economy... the year over year consumer price index readout for october measured overall inflation at 3.2% — down from 3.7% in september. the numbers pumped up investor confidence and put the brakes on fears about further rate hikes by the us federal reserve. the bbc�*s erin delmore reports from new york. investors looked at the inflation data from tuesday and saw a lot to like. the confidence sent stocks rallying across all three major indices. the nasdaq closed up more than two percentage points. the dow nearly one and a half percentage point after spending the day flirting with a 500 point gain. the s&p was up at 9% closed all 11 sectors skinny. that marks the markets best performance on the price index day since last november. treasury leads took a dive with a ten year yield at 10.4% above 4.6 marking its biggest one—day

decline since march. the cpi data buoyed investor hopes that the federal reserve is finished raising interest rates. the fed meets again next month and the expectation is that they will hold interest rates steady. using price pressure may mean an error of federal reserve rate hikes has drawn to a close. the meeting betweenjoe biden and xi jinping will be closely watched by business leaders for signs that the relationship between the us and china is improving. companies will be hoping the bitter trade dispute between the us and china, which started during the trump administration, is set to ease. joining us now from the apec summit in san francisco isjohn denton, the head of the world's largest business group, the international chamber of commerce. thank you forjoining us on the programme. talk to us about what businesses are expecting from this meeting? to what businesses are expecting from this meeting?— what businesses are expecting from this meeting? to put it in context, first, _

from this meeting? to put it in context, first, this _ from this meeting? to put it in context, first, this meeting - from this meeting? to put it in context, first, this meeting is. context, first, this meeting is taking place in the context of a very large meetings while the apec meeting has been convened in the us, this is actually very important symbolically the fact that the us is engaged at high level and with such emphasis with micro once tells you the importance of the asia—pacific economic community. it is a grouping which you have the us and china and also hong kong and also to chinese taipei as it is this called at the apec sitting. you have latin america, asia, the pacific so quite is significant context. let's not forget that the asia—pacific economic region which is celebrated through apec is still the most significant driver of the global economic growth. so in that context, the fact that these two leaders are meeting is quite significant as well. they did not meet last year at apec, the error meeting this year. there are a couple of things to bear in mind, the

timing of this meeting, the apec meeting is very consequential. this is the last significant meeting before the cop 28 process, so this is the last meeting of global leaders before that process. but it is also the last significant meeting of global leaders before what is called the mc 13 which is designed to try and ensure that the wto remains relevant and actually continues to do work. so this it's as few things happening at the same time. in the midst of all of this we have a situation where the economic environment between the us and china has fragmented and is no doubt, fractured. the reality is slightly different. we have seen a drift in some business activity, but it takes a long time to unravel what has already been rivalled. because there is actually a lot of interest in maintaining the supply chain linkages between these two markets and also the economic opportunities between

these two markets. yes, there is no doubt that semiconductors and other areas and there has been quite a shift. in other areas it is easy to wish it away, but harder to do it. that is what we hope this meeting coming on top of the meeting held last year at the g20 summit, again, in asia—pacific, in bali, indonesia, will give pause to think about what kind of framework will be to ensure this kind of important economic relationship continues to find a way to operate even within the political environment has been created as well. because it is just an awful business and frankly it is not good for the economies in asia pacific. they do not want the uncertainty.- they do not want the uncertainty. they do not want the uncertain . , ., uncertainty. this does not hel. uncertainty. this does not help- let _ uncertainty. this does not help. let me _ uncertainty. this does not help. let me just - uncertainty. this does not help. let me just break i uncertainty. this does not help. let me just break in j uncertainty. this does not - help. let mejust break in here for one second. witches have limited time so ijust want for one second. witches have limited time so i just want to ask you, exactly we are hearing about businesses but what about customers? how has the tension between the us and china affected them?— between the us and china affected them? think about this.

affected them? think about this- supply _ affected them? think about this. supply chains - affected them? think about this. supply chains are - affected them? think about i this. supply chains are putting comparative advantage which is to ensure the lowest cost of production to enable you to bring goods to market to consumers at an effective and efficient costs, if you unravel all those economically advantageous and subsume double supply chains you are going to add costs. the risk is it as to costs to consumers and puts inflationary pressure and something the leaders of china will want to avoid.— will want to avoid. thank you forjoining — will want to avoid. thank you forjoining us— will want to avoid. thank you forjoining us on _ will want to avoid. thank you forjoining us on the - forjoining us on the programme. let's turn now to the uk and the first new nuclear plant to be built there in decades. it's called hinkley point c and its construction theo leggett reports. for decades, the two reactors at hinkley point b provided enough electricity to power one and a half million homes in the south—west of england. but last year they were closed down. beneath my feet is the core of the nuclear reactor. for nearly half a century, it was generating huge

amounts of electricity, operating at high temperatures and under enormous pressures. but now the reactors been shut down and the highly radioactive contents need to be removed and removed safely. and that's what this machine over here is all about. it's a heavily shielded crane which pulls the old fuel elements out of the core. so the fuel assembly that's being lifted contains eight fuel elements. those fuel elements are highly irradiated and can be lethal. but the whole point of this entire set up is to make sure that nobody comes anywhere near that fuel. the fuel assemblies are brought down to a special cell where they're taken apart. the radioactive remains are then left in these ponds to cool for several months. they're then placed in special, rugged containers before being driven away into storage. emptying all the fuel will take four years and cost around £1,000,000,000, but that's just the start.

afterwards, other work can begin, such as the removal of these huge turbine generators. the reactors themselves won't be dismantled for some 60 years. the waste they've created during their life span will remain in storage. and campaigners say that's reason enough not to build any more nuclear plants. the main lesson we should learn from decommissioning the existing fleet is that we still don't have an answer for what to do with nuclear waste at any scale. and the more highly radioactive waste that are coming from the proposed new plants are going to be even more of a problem. yet, a stone's throw away from hinkley point b, a new nuclear plant is being built. hinkley point c. it's due to start generating infouryears�* time, but one day it too will have to close. and plans for its eventual demolition at the end of the century are already in place. theo leggett, bbc news, hinkley point. and that's it for this edition of asia business report. thanks for watching.

so we've got parents on low incomes working two or three jobs to make ends meet, earning just over that amount of money,

and then they have to pay for school meals as well. in northern ireland, the income threshold is double at £14,000. and in scotland and wales, free school meals for all primary age children are being rolled out. in london, they currently get free meals too. i feel a bit disappointed because if they have it, then that's not fair. the food foundation charity says the income threshold to qualify for free meals is too low. the children say they'll continue pushing for change for their health. for more stories from across the uk, head to the bbc news website. hey, i'm zof with the catch up. tonight, underage delivery riders, a dream career for one 26—year—old and a festival celebrating dogs. first, you might use them to order a takeaway when you get home from a night out or to treat yourself midweek. but a bbc investigation has found a black market trade

and delivery app accounts for deliveroo, just eats and uber eats, which allows underage teenagers to sign up as riders. basically, at the moment, riders who sign up to work for these big food delivery apps have to pass background checks and verify their age of 18 or above. but once accepted, they can lend their accounts to another person to work instead of them. and politicians say this needs to change and deliveroo, uber eats and just eat say they're working with the government to find a solution. next, this is fun, so a youtuber who left his job at the council to play at the computer game football manager full time says he's now doubled his salary. 26—year—old tom kelsey started his youtube channel dedicated to the game whilst he was a student at nottingham trent uni and now he posts around three videos a week and runs his channel from his bedroom at his parents house in lincoln. for me to be able to earn that money whilst also being my own boss and having had my own choices and not

work for someone else is is the best part of it. it's the freedom that i get from it. and that's what i love. time now for 10 seconds of cute dogs. the day of the dog celebration in nepal happens over five days. rightly so. these adorable dogs are praised and treated for their loyalty and companionship. you're all caught up now. see you later.

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