revive the stimulus measures to revive the world's second largest economy. a chief economist at goldman sachs laid out what you expect from the npc this week. this week's npc _ from the npc this week. this week's npc will _ from the npc this week. this week's npc will last - from the npc this week. wm 3 week's npc will last from today until friday. what we are really looking for is after the conclusion of the npc standing committee meeting on friday, what exactly is the fiscal resource they are approving for stimulus. but in the economy. it's possible that there will be a press conference following the conclusion of the npc meeting. that would be a venue for them to provide more details. for investors and markets, people want to know how much and what are you going to spend it on. how much and what are you going to spend it om— to spend it on. details are what you _ to spend it on. details are what you are _ to spend it on. details are what you are looking - to spend it on. details are what you are looking out i to spend it on. details are i what you are looking out for, do you think we will get a clear indication with regards to housing or local covenant debt? ~ ., ., , ., . debt? we are not sure how much detail we are _ debt? we are not sure how much detail we are going _ debt? we are not sure how much detail we are going to _ debt? we are not sure how much detail we are going to get. - debt? we are not sure how much detail we are going to get. but i detail we are going to get. but judging from the amount they

approve, hopefully we will be able to figure out for example how much might be allocated for debt resolution, because local governments are under a lot of financing pressures. in terms of additional spending to boost the economy, how much may be allocated for bank recapitalisation to allow banks to do more. and how much may be allocated for consumption, a key focus area for investors as china transitions away from property and more into consumption driven growth. you mentioned _ consumption driven growth. you mentioned property, and that is a key concern, isn't it? do you think we will see some detail there? �* , . . think we will see some detail there? �*, . ., ~ ., there? it's unclear. again, the details, there? it's unclear. again, the details. we — there? it's unclear. again, the details, we are _ there? it's unclear. again, the details, we are not— there? it's unclear. again, the details, we are not sure - there? it's unclear. again, the details, we are not sure whatl details, we are not sure what they are going to unveil exactly. but in late september in the politburo meeting, there was a clear emphasis for stabilising the property market. we interpret that as stabilising property prices, and to do that, you need to rebalance the supply versus

demand. we think de stocking houses, buying up empty apartment by local governments, that would be a way to achieve that. so it's quite important to stabilise the property sector although we are not sure how much detail we will get from the npc meeting. i know ou from the npc meeting. i know you have _ from the npc meeting. i know you have a _ from the npc meeting. i know you have a close _ from the npc meeting. i know you have a close eye - from the npc meeting. i know you have a close eye on - from the npc meeting. i know you have a close eye on the i you have a close eye on the meeting this week, but there is also the small matter of the us election. how is it being seen in china?— election. how is it being seen in china? , ., , in china? global investment has its e es in china? global investment has its eyes glued — in china? global investment has its eyes glued on _ in china? global investment has its eyes glued on the _ in china? global investment has its eyes glued on the election i its eyes glued on the election because the outcome will have important implications, especially for china. in terms of the outcome, if the outcome shows the risk for tariffs will be higherfor china, we think the chinese policymakers are likely to increase the amount of fiscal stimulus. because, after all, higher of fiscal stimulus. because, afterall, highertariffs, as after all, higher tariffs, as shown

afterall, highertariffs, as shown in the 2018—19 experience, would have a negative impact on the chinese economy. we think policymakers are likely to provide some offset in that scenario. also in china, — offset in that scenario. also in china. a _ offset in that scenario. also in china, a minister- offset in that scenario. also in china, a minister has - offset in that scenario. also in china, a minister has urged france to play an active role in reaching a solution that benefits both european and chinese e v industries. in a method is meeting with his french counterpart, he said the european union's anti—subsidy investigation has seriously hindered co—operation, which comes after the eu went up with tariffs of up to 35% on chinese electric vehicles last week. there will be a vote for a president on tuesday... inaudible. voters like the economy as one of the most pressing issues. inflation is easing towards the federal reserve's 2% target, but the sting of rapid price increases over the last four years lingers for many consumers. our north america business correspondent has more from new york. inflation is

cooling, consumers are spending, and thejobs market remains robust. on the surface, the us economy looks as strong as ever, even if many people don't feel that way. friday's jobs report showed the us unemployment rate remains at 4.1%, low by historical 4.i%, low by historical standards. overall, the american economy has grown rapidly. the latest gdp numbers show an annualised rate of 2.8% for the most recent quarter. and the prosperity is turning up and the prosperity is turning up in american wallets. the average household income last year was over $80,000, back to its pre—pandemic levels. this has empowered the us consumer to keep spending and drive economic growth. it’s to keep spending and drive economic growth. it's been not only resilient _ economic growth. it's been not only resilient but _ economic growth. it's been not only resilient but defiant. - economic growth. it's been not only resilient but defiant. and | only resilient but defiant. and that was before we saw all the effects of the initial cut in rates by the federal reserve, so the good news is consumers still have a lot of savings,

and wealth.— and wealth. but even as inflation _ and wealth. but even as inflation comes - and wealth. but even as inflation comes down, l and wealth. but even as - inflation comes down, many consumers paying grocery and utility bills still feel the pinch. the pandemic —related run—up in prices has made american life costlier and loomed large over the presidential election. and voters heading to the polls on tuesday are more likely to be thinking about their experiences with once—in—a—lifetime inflation. every week, we are going to work and getting a paycheque and seeing you still have to spend huge money on gas to fill up spend huge money on gas to fill up your car to spend huge money on gas to fill up your carto get spend huge money on gas to fill up your car to get to your office. that's another big negative downward pressure on the us consumer.— negative downward pressure on the us consumer. donald trump and kamala _ the us consumer. donald trump and kamala harris _ the us consumer. donald trump and kamala harris have - the us consumer. donald trump and kamala harris have offeredl and kamala harris have offered very different ideas about making life more affordable. the vice president has suggested price controls for groceries, while mr trump has promised drilling for more oil with lower energy costs and reduced inflation. in truth, economists have warned the policies of both candidates

would increase prices. and even if voters aren't feeling it, whoever wins on tuesday seems set to inherit a remarkably strong economy. a reminder you can watch live coverage of the election results on bbc news, also available on bbc one and iplayer in the uk at 10:1i0pm on tuesday. a special programme from washington, dc. 5g is poised to revolutionise several industries, including health care, education and transportation. along with the artificial intelligence boom, this process has accelerated rapidly. it has also created huge demand for network and infrastructure to facilitate next—generation technology. i spoke with the head of ericsson singapore philippines and brunei, and he touched on the role of ai in a 5g future and the challenges that lie ahead. we can predict traffic patterns and turn on and off... that

creates huge savings when it comes to power. and with devices, we are seeing ai more and more in devices, and applications today. what we are seeing in our networks is of course higher demand of traffic, and i think that will be one of the reasons we see traffic continue. and also low latency. what we mean? it's really about how fast you respond. if you ask a question and you need to wait ten seconds, you have probably left the application. of course, if you can get the network to respond very fast, which of course impact how we build the network, i think it's a really great way of using ai and bringing it closer.- great way of using ai and bringing it closer. how are telcos changing _ bringing it closer. how are telcos changing their - bringing it closer. how are i telcos changing their strategy and infrastructure to enable sg? �* , ., and infrastructure to enable sg? �*, ., , and infrastructure to enable sg? ., ., ., 5g? it's a big transformation. they need — 5g? it's a big transformation. they need to _ 5g? it's a big transformation. they need to deploy - 5g? it's a big transformation. they need to deploy new - they need to deploy new equipment, to modernise their

it systems. but of course, i think it's more about the business modelling. it's all about getting out the new offers. it's for us as an industry, as a consumer, and businesses, to understand the value the platform has that it will give you. and many countries around the world where you don't have as much fibre, as in singapore, which is extremely mature with 5g connectivity. you can bring the connectivity. you can bring the connectivity to the unconnected. that's really encouraging to see in more developing countries where you can connect a lot of people who are not connected, and drive economic growth in those countries.— economic growth in those countries. ., ~ ., countries. talking about the re . ion countries. talking about the region we — countries. talking about the region we are _ countries. talking about the region we are in, _ countries. talking about the region we are in, and - countries. talking about the region we are in, and the i region we are in, and the difference? perhaps in different countries. for example, 5g subscription in southeast asia lagged behind that in north asia and other regions as well. what do you put that down to and is it something that will level out? i think where we are now, we

see singapore and australia as more advanced when it comes to technology adoption. but each country is in its own technology revolution and maturity. that is what we need also, because of course from an ericsson perspective, singapore is a very important market. because of its size but also the technology where we can test technology thoroughly and scale globally. because success in our business is the global scale, it's not about any specific country, it's driving the global scale and the early adopter country in technology. before we go, a couple of interest rate decisions on the radar this week. on tuesday, the reserve bank of australia decides on the cost of borrowing there. analysts expect them to hold rates steady at 4.35%. the attention then shifts to the us and the two—day meeting of the federal reserve after election day. expectations of another rate cut by the fed of 25 basis

points after a cut in september of 50 basis points. that's it for business today, see you again soon. goodbye for now.

hello and welcome to sportsday. i'm hugh ferris. our top stories. the weather intervenes

at interlagos, as the sao paulo rain engulfs lando norris and takes max verstappen to the verge of yet another formula one world title. as manchester united await their new manager, their start to the season stutters again. and time to move on — joe marler quits international rugby, for good this time, after a week of headlines. hello again. welcome along to sportsday. max verstappen produced one of the more remarkable drives of his formula one career to win what could prove to be the pivotal race of the season. he hadn't tasted victory in ten attempts, with mclaren's lando norris hopeful of reducing the world champion's lead in the drivers' standings again, amidst the rain of the sao paulo grand prix.

but from 17th to first, and verstappen is on the verge of a fourth straight title. joe wilson reports. lando norris knew not what lay ahead, only who was behind. max verstappen starting from 17th, while lance stroll didn't even manage the formation lap. consequence — aborted start. confusion. some cars moved, others didn't. investigations began. eventually, well, they all started properly. norris lost ground straight away. see his orange mclaren, and george russell going past him into the early lead. rain, which had disrupted verstappen's qualifying, was gentle for a while. he moved rapidly. rain got serious. norris soon changed tyres. bad timing. red flag came, and everyone else did. can you see what's happening? verstappen had made so much progress on the resumption, this move meant he led, while norris slid further back. well, for the red bull team, it was a dream. verstappen completed a win that had seemed impossible. that felt absolutely decisive.

joe wilson, bbc news.