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Transcripts For BBCNEWS Asia 20240702

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summit in san francisco. it's their first face—to—face talks in more than a year, they are expected to discuss the ongoing trade row between the two countries, as well as washington's measures to restrict beijing's access to advanced computer chips. the meeting comes as china's once—roaring economy struggles to recover from the the impact of the pandemic. earlier, i spoke to the executive director of the asian trade centre in singapore, deborah elms. she told me this conversation is an important first step. well, i think the most important part is that they've had a meeting. i mean, that sounds pretty modest, but after a lot of disruption through the trump years and then through the pandemic and through the post—pandemic period, just having a conversation between the two leaders is critical to helping stabilise this rocky relationship. we talk a lot about the conflicts and economic differences. but how has this impacted customers and businesses? has there been much of an impact? certainly, if you're a us consumer, there's been a lot of an impact. although you might not realise it any longer. the tariffs remain in place that were put in by the trump administration at the beginning of his term. so you've been paying an awful lot more, up to 25% more for a great range of products since that time. so there's definitely been an impact for customers, and an impact for businesses, who've had to reshuffle supply chains, depending on the sector that you're in due to continuing pressure to reach supply chains as those tensions continue to simmer and as they may escalate heading into an election year in the us and then who knows what comes beyond that? do you think this meeting, more businesses will be interested in doing business with china once again? i think it depends on which business it is. there are american companies that are based in china that will stay in china or intend to stay in china, there are some expanding, but american companies are still a bit wary about whether or not they should either increase or move into china. but that's not the case for a lot of other places, where they continue to see the benefits of being in an economy with more than a billion customers, that is extremely well linked to the global economy and that at least appears, to many outside the us businesses, to be trying to stabilise an important relationship. now let's take a look at what else is in the economic calendar this week. on tuesday, we will get the october reading for us inflation, with expectations that consumer prices moved a little higher last month. the following day, there are economic growth figures for the third quarter from japan. those numbers are expected to show the weak yen is helping to boost exports. also on wednesday, we get an economic health check from china, which has seen a sluggish post—pandemic recovery. we'll get numbers on retail sales, industrial production and unemployment. and on thursday, we'll be looking for indications of the effect of rising interest rates on the australian economy, when employment data for october is released. peter mcguire is chief executive at trading—point.com in sydney and he told me investors around the world will be keeping a close eye on that meeting betweenjoe biden and xijinping. i think a couple of good points that need to be discussed. naturally, geopolitical tensions, global economy, the slowing as far as china's export market and the overall health of what's going on across asia, europe and, of course, into the us. so as they sit down, i think it should be reasonably positive, and that's the way it's going to be interpreted as far as both leaders coming together. it's been about a year since they have. the data in china has not really been heading in the direction that president xi is hoping for. so what can we expect to see later this week? this is the issue facing this economy. the weak export numbers last week and you are looking at how that rolls this week as far as data points and the release of numbers. you have the retail sales and fixed asset production and retail production. so as we take on board those numbers, what are they going to represent as far as the internal combustion of china and, naturally, trying to, you know, export their way out? with the bank of japan still reluctant to exit that easy policy, despite sustained inflation and weak yen. what exactly do you expect that we will see later on this week? a little bit of a shrink as far as those gdp numbers. you'vr had three quarters of the extraordinary growth over the first and then this one, i think, will actually be a pull—back. so there's the first part. as you mentioned, ultra—loose policy from the do], and is the bank ofjapan governor prepared to do something in the early 24? and you've got the yen now 151, approaching 152 levels which is, well, from an expert side, it's probably good, but from an import side, it may be hurting them tremendously. you're also going to get some labour statistics coming out of australia. what do you expect to see? the upside as far as the weak growth, then i think that that could be a positive tone. if they are stronger than expected, i feel as though there's probably a 50—50 toss of the coin as far as another december rate hike. we've just had one last week, and that strengthened the australian dollar. china's largest e—commerce company, alibaba group, says it recorded year—on—year sales growth during the singles�* day shopping festival. its rivaljd.com also reported sales volumes at a record high. however, the companies did not release overall revenue figures for the second consecutive year in a row. the festival has been used to gauge chinese consumer sentiment, which has been disappointing following the post—pandemic reopening. former manchester united and england football star gary neville is counting on investors from around the world to buy property in manchester. he's just launched a luxury hotel and apartment complex in the city, as part of his growing business empire. our asia business correspondent nick marsh caught up with the star, who is on a whirlwind trip to asia, where he discussed property, man utd and the beckham documentary. we're launching the sales of our residential units, not the residencies, and we thought no better place to do that than singapore. we've obviously launched in manchester last week as well. so manchester, singapore, then we head over to china to hong kong and into dubai. now, you're off to china after this. i'm sure you're aware of everything happening with the property market there. is that something that's concerning you? i'm not concerned about it. i mean, we're not coming over here sort of saying that people have to buy. we're saying to people that this is, i think, a stellar project, an exemplar project in the city. a project that... i think we've got a building and architecture that could sit in any major international city in the world, and that is my view of manchester. it's a major international city now. and obviously, we will take it over to beijing, into shanghai into hong kong and people will buy or they won't. we've got a lot of people locally in manchester that want to buy, but we want to make sure that this development is sold all around the world. w is a global project. it's a global brand, they demand that from us. and we want the best, you know, we want the best that we can possibly get. ok, let's talk about man united, their potential takeover. just talk me through where you stand on that. absolutely, i don't think much doubt now that sirjim radcliffe will come in as a minority shareholder in the next few weeks, maybe a couple of months, and try and forge a partnership with the glazerfamily who are, you know, i suppose in some ways, tainted at this moment in time in manchester. there is huge unrest at the way in which they are managing the club. so, you know, jim radcliffe is a very successful businessman. he's got great experience, you know, he's certainly not a fool, and i hope that, basically, with him coming in, it can transform and bring a new energy to the club, because it needs it badly. it really does. i just want to ask about that david beckham documentary. it seems like everybody has been watching it. a lot of people say you come out really well, that you're a really good friend, a loyal guy. does that surprise you? no, no! what do you think? what feedback have you got? has anybody been saying that to you? i don't know, people said that they saw me, but i've not seen a lot of feedback on it, really. i saw someone before said to me that they saw me, they were watching me yesterday and it was a shock to see and here — a woman in reception down the stairs — but, no, not really. i think it's brilliant. i think it's brilliant, the way in which his career — which, obviously, i witnessed for a large part first—hand with england and manchester united — has been brought together into these four episodes. and ifeel like it reminds you of how great a football player he was. that's the thing that i feel really passionate about with david, being one of his best friends, that people sometimes talk about the other stuff, which is great, and what he's done is fantastic, but he was a great football player, who played for some of the best clubs in the world for 20 years. gary neville. the former canadian fashion mogul peter nygard has been found guilty of four counts of sexual assault in a canadian court. prosecutors said he had used his wealth and power to lure women to his toronto office building, where they would end up in his private bedroom suite. he was acquitted on two other charges. that's all we have for today's edition of the programme. i'm monica miller. thanks for watching. bbc news — bringing you different stories| from across the uk. it may look like a trip to the science museum, but believe it or not, this is gatwick. it's a new centre with hands—on experiments, with the hope of inspiring schoolchildren to considerjobs in stem — otherwise known as science, technology, engineering and maths. fundamentally, it is about our future pipeline of talent. we're hoping that some of them might be the workforce for the future with gatwick. featuring a mock—up runway lighting rig, among this group, many were keen to see the opportunities on offer. when i grow up, i want to be an engineer. i think something to do - with electronics, something to do with biotechnology, . something to do with stem. when i'm older, i want to be an aircraft carrier designer and i want to make a plane that can hold about 8,000 people that's a kilometre long. when i grow up, i want to be an engineer. - i love the idea of creating . planes and making them go faster, so i think it'd be i really cool to build a plane and then have the chance to go on it yourself. - the specially—adapted space will be here for a year as part of a pilot and will get feedback from schools and students, with the aim of attracting a host of new and enthusiastic talent to the airport's workforce. for more stories across the uk, head to the bbc news website. | it may look like a trip to the science museum, but believe it or not, this is gatwick. it's a new centre with hands—on experiments, with the hope of inspiring schoolchildren to considerjobs in stem — otherwise known as science, technology, engineering and maths. fundamentally, it is about our future pipeline of talent. we're hoping that some of them might be the workforce for the future with gatwick. featuring a mock—up runway lighting rig, among this group, many were keen to see the opportunities on offer. when i grow up, i want to be an engineer. i think something to do - with electronics, something to do with biotechnology, . something to do with stem. when i'm older, i want to be an aircraft carrier designer and i want to make a plane that can hold about 8,000 people that's a kilometre long. when i grow up, i want to be an engineer. - i love the idea of creating . planes and making them go faster, so i think it'd be i really cool to build a plane and then have the chance to go on it yourself. - the specially—adapted space will be here for a year as part of a pilot and will get feedback from schools and students, with the aim of attracting a host of new and enthusiastic talent to the airport's workforce. for more stories across the uk, head to the bbc news website. | hello and welcome to sportsday. i'm lizzie greenwood—hughes. here are the headlines: chelsea snatch a very late draw against premier league leaders manchester city. in flying form — india arejust two wins away from glory at the cricket world cup on home soil. and canada make tennis history by winning theirfirst billie jean king cup. hello and welcome to the programme. we are starting with the premier league, because there was an incredible match between chelsea and leaders manchester city. in a topsy—turvy game, chelsea had lost the lead twice and were 4—3 down with five minutes to go — erling haaland with two of the city goals. but then, late into added time, chelsea equalised with a var penalty scored by the former city player cole palmer. a—all, the final score, so city still top the table, but only by a point, while chelsea stay tenth. yes, it was an amazing game.

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