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Transcripts For BBCNEWS Asia 20240703

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Further complicate evegrande� s restructuring. Sol so i think with the chairman of ever grand arrested, the talk with creditors is going to take a much longer time. With the Police Investigation ongoing, creditors will need to wait for a longer time until the Police Investigation results come out. They have negotiated with the company for over two years com pa ny for over two yea rs about company for over two years about the terms of the restructuring, but the restructuring, but the Restructuring Plan rings more trouble as they have denied to issue the shares for ever grand. Totally different Restructuring Plan or they need to wait for an even longer time, by the investigation by the police will come out. Investigation by the police will come out. Catherine, you know, will come out. Catherine, you know. About will come out. Catherine, you know, about government know, about government policies. Buyers that paid deposits for their flats, or get their units back, its about ensuring that Property Holders feel secure about restoring market confidence. Are those policies working, and what more needs to be done . Chinas Property Market now, the key thing is for developers to complete the unfinished units. However, with more demand, more to support, more supply to meet the demand in the market, we are also expecting to see more Macro Policy Rolling Out to help absorb the surplus of the supplies. So we are also expecting Something Like a model of the singapore Affordable Housing programme. The problems faced by chinas ellipse is facing a whole host of challenges the worlds second largest economy is facing a host of challenges 7 including slow growth and high youth unemployment. While these headwinds add up to a major headache for beijing. Why does it matter to the rest of the world 7 to help answer that question, and summarise the latest viewpoints out there, lets bring in our Asia Business correspondent, nick marsh. Nick, good to have you back on the programme, that is really the programme, that is really the question. The question. Youve written extensively the question. Youve written extensively about the question. Youve written extensively about it the question. Youve written extensively about it on the question. Youve written extensively about it on the l the question. Youve written i extensively about it on the bbc news website, take us through what this really means out the Global Impact. What this really means out the Global Impact Global Impact. When i was writin Global Impact. When i was writing this Global Impact. When i was writing this piece, Global Impact. When i was writing this piece, i Global Impact. When i was writing this piece, i was i writing this piece, i was interested in that saying, you know, when the us sneezes, the rest of the world catches the cold. To what extent does that apply in china, second largest economy, 1. 4 billion people, ultimately It Reallyjust depends on who you are. If you are a global brand, you depend heavily on the chinese Domestic Market for your profits. I dont know if you are a starbucks or a Car Manufacturer like volkswagen for example, obviously youre going be very concerned that people in china are spending less. That has a Knock Off Effect on your suppliers, who rely on you in turn. If you are a commodity� s exporter in south america, youre in africa, your selling Raw Materials to china, but at the moment they are buying less, they are doing a lot less House Building for obvious reasons as weve heard with the property crisis, so youre going to be concerned as well. Then again on the flip side, prices in china are actually staying quite low because demand is so weak. That means that chinese exports are staying cheap from a global perspective, that means that things on your shelves are also distinguished cheap. That could be a way to tame inflation without having to constantly hike Interest Rates as weve seen around the world. Ultimately its a bit of a mixed bag. Ultimately its a bit of a mixed baa. X. , mixed bag. Nick, there has been talk of this mixed bag. Nick, there has been talk of this socalled talk of this so called financial contagion. Is that a realistic possibility regardless of how extreme it sounds . I regardless of how extreme it sounds . ~. , sounds . Ithink it, in a nutshell, sounds . Ithink it, in a nutshell, no sounds . Ithink it, in a nutshell, no its sounds . Ithink it, in a nutshell, no its not i sounds . Ithink it, in a nutshell, no its not a l nutshell, no its not a realistic possibility. People like to make these comparisons with what happened in 2018 in the United States, Subprime Mortgage prices, knock on effect of the financial sector, big banks going bust, then you got a global recession. That is probably not going to happen in china for two main reasons. The financial sector, the property sector arent as closely intertwined as they are in america. You had them buying and selling peoples Mortgage Debt over there. Secondly, chinas Financial System is not the us Financial System, its nowhere near as dominant, if there is a big problem there are the results arent going to be as disastrous as they were backin be as disastrous as they were back in 2008. There is plenty to be concerned about in china especially in the long term, but these kinds of nightmare scenarios, i dont think there is plenty to be concerned about in china especially in the long term, but these kinds of nightmare scenarios, i dont think they are as realistic as some people like to make it out to be. If some people like to make it out to be. ,. ,. Some people like to make it out to be. ,. ,. ,. , some people like to make it out to be. ,. ,. ,. , to be. If you want to read more on that story. For more on chinas economy, please go to bbc news online for nick marshs story. Lets now turn to the United States where a deadline is fast . Approaching for lawmakers to reach a deal and avert the fourth partial Government Shutdown in a decade. A small faction of hard right republicans in the House Of Representatives is calling for deeper Spending Cuts and other concessions, before they approve spending levels for the next fiscal year. Heres our north America Business correspondent, erin delmore, with more on the potential Economic Impact of this political brinkmanship. The clock is ticking on capitol hill. Lawmakers have fewer than three days to reach a deal to avert a Government Shutdown. To do so, the democrat led senate and the republican led house will need to agree on a deal to fund the federal government past september 30th. Right now, the senate has bipartisan support on a stopgap bill that would extend funding until november 17th. But House Republicans have rejected it. Theyre fighting over Government Spending levels with hard line conservatives calling for deeper cuts and tying any Government Funding Bill to the ongoing issue of immigration and security at the us� s southern border. House speaker Kevin Mccarthy has a handful of holdouts in his Republican Caucus who have said theyll oppose any short term funding bill. Several are threatening to oust mccarthy from his post if he doesnt meet their demands. Any shutdown would impact hundreds of thousands of federal workers, many of whom would be out of work without pay. And relatedly, americans who rely on federal assistance would see Services Slow or stop. That means nutrition benefits lapsed, civil trials postponed, museums closed, inspections for hazardous Drinking Water stopped, Clinical Trials for new medical treatments delayed. The Us Government has shut down at least partially three times in the past decade and credit agencies have taken notice with some downgrading the us� s Credit Rating already. Artificial intelligence is supercharging possibilities for scammers and fraudsters. In the United States alone, official figures showed fraud rose by 30 . Percent in 2022 alone. The most common type was so called imposterfraud . People pretending to be someone else theyre not. One of the most dramatic cases happened earlier this year to arizona mum, jennifer destefano, who received a call which sounded like her 15 year old daughter briana. Heres what she told the American Senate about what happened when she answered the phone. It was breanna, sobbing and crying, saying mum . fist it was breanna, sobbing and crying, saying mum . At first i thou~ht crying, saying mum . At first i thought nothing crying, saying mum . At first i thought nothing of crying, saying mum . At first i thought nothing of it crying, saying mum . At first i thought nothing of it and crying, saying mum . At first i thought nothing of it and ask| thought nothing of it and ask her whats wrong . I asked her again, 0k, what happens. Suddenly a mans voice barked at her, sit down, lay back. I demented to know what was going on, nothing could have premiered me for her response after this, met mum, these bad men have me. Took the call. They required me to get in a van with a bag over my head with 50,000 in cash to be transported to my daughter. If i didnt have all the money then we were both going to be dead. I was shocked. At that point in time, the second mum came back to me and she had located my husband. Who had found bree resting safely in bed. I called the police to pursue the matter, unfortunately i was met with, its a prank call, it happens often and theres nothing that can be done. I turned to the community, friends and neighbours came out of the woodwork with their stories. Even voices of Young Children nowhere to be found in social media and without phones. And before we go. Epic games has become the latest company in the tech sector to lay off workers. The maker of the Video Game Fortnite is cutting 870 jobs. Thats around 16 of its workforce. In a memo to staff, epic said it had tried to cut costs but was still spending more money than it can earn. And thats it for this edition of Asia Business report. Thanks for watching. Bbc news bringing you different stories from across the uk. It all began when his Admin Job In Leicester was under threat and he turned to online journalism, launching bellingcat, Exposing Fake News largely to the embarrassment of russia. Fat is made up, and we know that. Its smartphones which have changed everything combined with tools on the internet. Everyone can be a recorder of news. Vast amounts of information that we really didnt have 20 years ago. And thats allowed us to do investigations on things like chemical Weapons Attacks in syria, shooting down of aircraft in ukraine, and now the current conflict in ukraine. Were able to take an image like this, which is from the day before the air strike. And following on the next day. See the damage from the air strike as its happening. Its absolutely crucial to have voices who are actually a little bit more optimistic and what can sometimes seem quite a Doom Laden Area of study. Really what hes telling is coming good on the potential that the internet initially promised. Education is the key in the fight. We see people using the internet at younger and younger ages, and if we arent engaging with them, showing them how to have a positive impact on the discourse, then itsjust going to lead them down some pretty nasty rabbit holes. For more stories from across the uk, head to the bbc news website. Hi. Im alice with the catch up. Police officers are switching off their body worn cameras when force is used, as well as the Video Footage and sharing videos on whatsapp. A bbc investigation has uncovered more than 150 reports and Camera Misuse by force in england and wales. Its been described as shocking by reading officer. By a leading officer. In one case, a brother and sister faced a two year legal battle over footage showing officers use of force against them. I was punched in the face, my sister was punched and then we got charged was pushed and then we got charged with assault even though we were assaulted. But if he and his sister were acquitted and the met police apologise to them, the home office says police use of cameras must be lawful and justified. The officer in charge of the cameras says for Majority Recording show good practice. Some other stories now. A 15 Year Old Girl died after being stabbed in croydon. South london has been named as ariane and her family said as ariane andam her family said she was feeling out of their lives. Police have been given an extra 24 hours to question a 17 year old boy who was arrested after the attack. The number of students not completing uni courses in england, wales and Northern Ireland is at its highest recorded level. But its been a 28 rise in students dropping out partway through the year for Student Loans companies that. Loans companies said. Time now to leave you with 10 seconds of queens. Series five of rupaul� s drag race is back on bbc3 and bbc iplayer, with ten new contenders strutting their stuff. Youre all caught up for now. Hello and welcome to sportsday. Im chetan pathak. Coming up on the programme. Are you ready . Because rome is. The start of the 44th Ryder Cup is just hours away with europe looking to regain the trophy from the United States japan beat samoa to keep their knockout hopes alive at the Rugby World Cup a result that sees england through to the quarter finals. And the investigation into alleged corruption involving barcelona continues as Spanish Police raid the Referees Offices well bring you the latest. Welcome along, thank you forjoining us. Not too long to go now until play begins at the ryder cup in rome. Europe will be hoping Home Advantage helps them to regain the trophy, its 30 years since the united

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