economy has second largest economy has expanded 4.7% in the second quarter of the year. that is raising a lot of question marks over beijing hitting its growth target of 5%. for a breakdown of china's challenges, let's bring in katie da silva. help us understand that a. $5 bring in katie da silva. help us understand that a. as you mentioned. _ us understand that a. as you mentioned, we _ us understand that a. as you mentioned, we have - us understand that a. as you mentioned, we have seen i us understand that a. as you i mentioned, we have seen that 4.7% growth figure for the second quarter. now we are going to find out how the economy performed three months later. the two interesting figure to note here, one is the year on year numbers, so how closest to china to that 5% target? economists are predicting between 4.7% and 4.9%. the other parties whether or not we will see a deceleration and whether the economy has stalled somewhat from the previous three months. in the last 20 minutes we have been hearing from the people's bank of china, the central bank there, they have been meeting with financial institutions, banks, mortgage brokers, fund managers, and they say they have been urging financial

institutions to boost credit support for the economy as well as passing on interest rate adjustments that have been flagged in the last week. so we have seen of course a raft of stimulus measures announced in beijing when it comes to lowering key interest rates, when it comes to fiscal stimulus and when it comes as well to issuing close to $1 trillion of bonds. all attempting to prop up the world's second largest economy which has been flailing as of late, and the post—pandemic recovery has been something people have really seen as being lacking, so a lot of things really to look at particularly when it comes into next year, and those figures out in half an hour.- out in half an hour. look forward _ out in half an hour. look forward to _ out in half an hour. look forward to checking - out in half an hour. look forward to checking in i out in half an hour. look. forward to checking in with out in half an hour. look- forward to checking in with you again, katie silber, thank you. staying with china, the economics professor said that he thinks the government's 5% growth target is still achievable.- growth target is still achievable. , ., ., growth target is still achievable. ~ , ., ., , achievable. we should not 'ust anchor on what is i achievable. we should not 'ust anchor on what is this i anchor on what is this quarter's growth or next quarter's. what china actually needs— quarter's. what china actually needs a — quarter's. what china actually needs a sustained growth, and that is—

needs a sustained growth, and that is the _ needs a sustained growth, and that is the way all countries essentially become rich, so china — essentially become rich, so china faces two traps, one is the deflation trap which is similar_ the deflation trap which is similar to what japan went through, the bubble bursts, japan — through, the bubble bursts, japan falls into deflation and there — japan falls into deflation and there is_ japan falls into deflation and there is no growth for three decades _ there is no growth for three decades. china has to avoid that — decades. china has to avoid that the _ decades. china has to avoid that. the big reason for that of course _ that. the big reason for that of course is that when this happened to japan, they were a rich country, where china is still— rich country, where china is still a — rich country, where china is still a middle income country. the second part of this is the middle — the second part of this is the middle income trap where companies fail to grow out of it, companies fail to grow out of it. and — companies fail to grow out of it, and there are some forecasts out there that chiha's_ forecasts out there that china's potential growth over the next _ china's potential growth over the next decade or so is closer to 4% — the next decade or so is closer to 4% rougher than 5%. and partly— to 4% rougher than 5%. and partly this is driven by the crackdown on the private sector and enterprise, so what they should — and enterprise, so what they should really be focusing on a sustaining growth rather than 'ust sustaining growth rather than just thinking about next quarter's growth for the next year — quarter's growth for the next ear. ., ., , ., year. returning to earnings out ofthe year. returning to earnings out of the us, _ year. returning to earnings out

of the us, to — year. returning to earnings out of the us, to netflix _ year. returning to earnings out of the us, to netflix added - of the us, to netflix added over 5 million subscribers in the third quarter, and beat wall street's expectations on every financial metric. at the same time, the steaming giant is raising prices amid a slowdown in growth after it's cracked on password sharing. let's speak to an industry expert. great to see these earnings results from netflix. what stood out to you the most crazy as you mentioned, netflix beat their subscriber forecast, they got to 5.1. operating margin was up ahead of the forecast as well of 30%, and revenue growth exceeded forecasts, so very positive. the thing that stands out for analysts looking at this as well is the slowing in subscriber growth even though netflix added more than forecast, that is down, that

5.1 is down on 12 months ago where they added 30.1 million. so lots of questions around how netflix is going to stay at the business forward in an environment of slowing subscription. and this might be one of the last times we receive that kind of data. that must be a concern for investors and analysts as well.— and analysts as well. that's ri . ht. and analysts as well. that's right- from _ and analysts as well. that's right. from next— and analysts as well. that's right. from next year- and analysts as well. that's l right. from next year netflix. reporting subscribers, not only expected. they are really stirring the coal is now, the reporting towards metrics like margin, average revenue per member, and they really are seeing some strong growth in those areas, so it is probably not a surprise that they are looking to focus the attention away from net subscriber growth. away from net subscriber urowth. �* ., ., ~ away from net subscriber urowth, �* ., growth. and if we look at netflix in _ growth. and if we look at netflix in the _ growth. and if we look at netflix in the region - growth. and if we look at netflix in the region here growth. and if we look at i netflix in the region here in asia, how is it faring compared to the competition? it is asia, how is it faring compared to the competition?— to the competition? it is doing very well- _ to the competition? it is doing very well. the _ to the competition? it is doing very well. the bright -

to the competition? it is doing very well. the bright spots, i to the competition? it is doing very well. the bright spots, if| very well. the bright spots, if you break down netflix subscriber add to the last quarter, the us and canada is where it is really slowing down. they only put on 690,000 subscribers in the us and canada, and contributing good subscribers around 2 million, and that is down on 5,000,012 months ago, and it is a pack thatis months ago, and it is a pack that is forming well for them, adding 2.1 million subscribers in the quarter, and that is only slightly down on 12 months ago at 2.9 million. and in fact, in terms of revenue contribution, the region was netflix was my highest performing region with 19% revenue growth, so that is a real bright spot for them. in their earnings fall as well they spend a lot of time emphasising the international production capabilities, and a packis production capabilities, and a pack is where they are really investing in significant volumes of original content. streaming is a significant industry, where does netflix sit? it industry, where does netflix sit? ., , ., industry, where does netflix

sit? .,, ., ., sit? it has a unique position in the streaming _ sit? it has a unique position in the streaming market. it| in the streaming market. it dominates the category in markets where there are still subscribers who are yet to get into streaming, and they will go to netflix first. and in many markets were subscribers only have one service, it is only have one service, it is only netflix. so netflix is in the category of one as far as streaming is concerned, and you heard this on the earnings call earlier today, there were questions around whether netflix would consider bundling options as many of its peers are heading towards more bundling with each other, and netflix was quite pointed in its remarks around that direction not being necessary for netflix. they see themselves as having a broad enough catalogue of content and an appeal doesn't need assistance of other services to press. so i think they will be focused on doubling down on original content and try to grow out the advert here from a revenue point of view as well as customer acquisition. thank ou ve as customer acquisition. thank you very much. _ as customer acquisition. thank you very much, we _ as customer acquisition. thank you very much, we will - as customer acquisition. thank you very much, we will leave i as customer acquisition. thank you very much, we will leave it

there. instagram has introduced a bunch of teen safety features as the company continues to face scrutiny over protecting the privacy of its young users. users will now not be able to screenshot or screen record images and videos tend to to be removed once. parent company meta has said it will also crackdown on scam accounts used to target teens by sending follow requests from such accounts to spam folders or blocking them entirely. airbnb is one of the first tech companies to completely transform the way we travel. it upended the hotel market and in some places the housing rental market too. as housing prices have been rising, some cities have been rising, some cities have been rising, some cities have been cracking down on airbnb play michael together. in this week's addition of talking business, we asked the company's chief executive if airbnb is contributing to the housing crisis. i

airbnb is contributing to the housing crisis.— housing crisis. i don't think it is in large _ housing crisis. i don't think it is in large cities, - housing crisis. i don't think it is in large cities, at - housing crisis. i don't think it is in large cities, at leastj it is in large cities, at least not — it is in large cities, at least not nearly to the extent that some — not nearly to the extent that some critics have pointed out. let me — some critics have pointed out. let me just back up and say this — let me just back up and say this i— let me just back up and say this. i don't want to ever say this. idon't want to ever say that— this. i don't want to ever say that it — this. i don't want to ever say that it is _ this. i don't want to ever say that it is not contributing to any— that it is not contributing to any problems anywhere. we built any problems anywhere. we built a platform that is used hundreds of millions of times a year _ hundreds of millions of times a year and — hundreds of millions of times a year. and just to give you a sense, _ year. and just to give you a sense, we _ year. and just to give you a sense, we have nearly 4 million people — sense, we have nearly 4 million people staying in airbnb, and i can't _ people staying in airbnb, and i can't be — people staying in airbnb, and i can't be here to tell you that every — can't be here to tell you that every single thing are something we can defend, because _ something we can defend, because we are a platform, and when _ because we are a platform, and when you — because we are a platform, and when you build a platform, it is used — when you build a platform, it is used for unintended consequences, so in the past there — consequences, so in the past there have been people who have taken _ there have been people who have taken holmes off the market, there — taken holmes off the market, there have been major concerns from _ there have been major concerns from cities, so we have worked with— from cities, so we have worked with cities— from cities, so we have worked with cities around the world to establish _ with cities around the world to establish laws and regulations and restrictions about who can host _ and restrictions about who can host and — and restrictions about who can host and how many days they can host _ host and how many days they can host. so — host and how many days they can

host, ,, ., ., host and how many days they can host, ., , ., host and how many days they can host. ., i. ,, . host. so do you respect when cities like _ host. so do you respect when cities like new _ host. so do you respect when cities like new york - host. so do you respect when cities like new york and - host. so do you respect whenl cities like new york and miami do decide to implement these new restrictions, even if you don't agree that they are going to work? , ., . , don't agree that they are going to work? , ._ , .,, don't agree that they are going to work? , .. , ., to work? yes, a city has a riaht to work? yes, a city has a right to determine - right to determine how they want — right to determine how they want to— right to determine how they want to govern and what they want — want to govern and what they want to — want to govern and what they want to restrict and do not restrict _ want to restrict and do not restrict. let me just say this, though. _ restrict. let me just say this, though, take a city like new york — though, take a city like new york it _ though, take a city like new york it is _ though, take a city like new york. it is not like the city of new _ york. it is not like the city of new york made a decision. if you were — of new york made a decision. if you were to ask broadly the city— you were to ask broadly the city of— you were to ask broadly the city of new york, i think there is quite — city of new york, i think there is quite a _ city of new york, i think there is quite a bit of support for airhhb_ is quite a bit of support for airbnb to _ is quite a bit of support for airbnb to exist at least with some — airbnb to exist at least with some restrictions. i don't think— some restrictions. i don't think the _ some restrictions. i don't think the majority of people in the city— think the majority of people in the city of new york fought a ban was _ the city of new york fought a ban was the best solution. it was — ban was the best solution. it was a — ban was the best solution. it was a bit _ ban was the best solution. it was a bit of a giant hatchet approach. was a bit of