Resources and stability to thrive. Mufg, we build relationships that build the world. And now, bbc world news america. Bbc world news america. This is this is bbc world news america. Washington, i am katty kay. Chinas Central Bank CutsInterest Rates, but the doll still sinks 200 points. Ch trainect on a fren wash a jihadi video just before the violence. 10 years after Hurricane Katrina smashed into new orleans, we visit the one Radio Station that stayed on the air throughout the storm. Katty welcome to our viewers on Public Television in america and around the globe. Today, chinas Central Bank CutsInterest Rates and eight attempt to prevent more falls in stock prices. That was not enough to lift the dow jones into positive territory. It dropped more than 200, that brings the last five trading days to almost 2000 points. In china there is no sign of a rebound, and it is still a cause of global concern. Heres her china editor. Many chinese seemed unaware of the collapse in their stock market today. Share prices slid by almost 8 after falling but more than after falling by more than eight percent yesterday. The yearlong debt fueled price bubble could not last, and now it has burst spectacularly. At the height of chinas stock fever you could not move for people leaping into the market. After a long and horrid summer, only the diehard are left. Many of the big players are here because the government forced them to stay in and the government itself has had to pump in hundreds of billions of dollars to keep everyone afloat. Until this summer, many investors thought they had made their fortune. Now, some have lost their life savings. There were gloomy voices today. My friends and colleagues are really worried. I hope the government will come up with an explanation of what happened and give us comfort. Confidence. Prices are high, wages are low, it is hard to get by. After trading today, the central bank announced an Interest Rate cut and relax the rules on Bank Reserves to support the real economy. After three decades of doubledigit growth, china is aiming for 7 this year. Many suspect that the actual growth is already far lower. This is going backwards. The problem that china has is growth has been generated by even more rapid growth of debt, they have to get the debt under control. By lowering Interest Rates they have relieved the debt press ure to give them more time. If they use the time to impose reforms, that is good. If they use the time to allow debt to continue to grow, that means we will have more of the difficulty in the next few years. Economicng chinas challenge of pauls political risks, but that runs counter to the communist partys instincts of discipline and order at any price. Bbc news, beijing. Katty chans economy has been fueled for many years by rising levels of debt. The slowdown in growth has now led to this recent market turmoil. Our economics editor is with us with whether the move by the central bank will work. Another stock market route in china and the shares in japan fell 4 in sympathy. Shares soared in europe. In america they rose for a few hours but closed down. Why do western investors breathed a sigh of relief for a few hours . Is because the peoples bank of china has done what Central Banks typically do when markets are tumbling and growth is slowing, which is to throw to money at the problem. Since the global crash of 20072008, china has become dependent on investment to keep the economy growing fast. Chinas debt has increased by just under 21 trillion dollars since 2007, the equivalent of incomean 120 of its gdp and takes its total debt to more than americas as a share of income. 282 of gdp. There is no big country in history which has not suffered a severe crash at some point after risen atd its dead that kind of rapid rate. Rise after that kind of rapid rate. They are borrowing more to pump up chinas debt bubble even more. It may make the eventual pricking of the bubble more damaging. Growth has slowed down dramatically. The rate of increase in overall debt is alarming. The rest of the world is no longer providing china with the genuine consumer demand it did before the financial crisis. This dramatic chinese slowdown has profound applications on the whole global economy, including the u. K. It is not just china slowing down. Most of merging of economies, from brazil, to russia, to malaysia are in difficulties, that is half of the global economy. The ones that have gone the fastest are in the doldrums. One influential indian central banker that correctly predicted the crash in 2008 says there thanks to not have the power to make it right again. I have been concerned about the immense burden of action that is falling on Central Banks. It is important for Central Banks to see it some point. We cannot carry the burden ourselves. We may not even have the tools to do everything that is asked of us. The excessive use of antibiotics, like that the use of debt can be helpful for a while, but too much into long can be dangerous. Katty for more im joined by a former World Bank Director for china that is now at the of international peace. It will fuele that more debt and make the eventual pricking of the chinese bubble more painful . It is all relative. If you look at the rest of the world there is a lot of money flowing around. Interest rates are quite low. Interest rates in china are much higher. The Interest Rates in china are higher than they are in europe and other emerging market economies. Money is leaving china. Government basically had to increase the money supply, and that is what they did. They want to lower Interest Rates, because Interest Rates in china are higher than other economies. Laura you think what the central bank did today was the appropriate thing to do at this point in the market swings. You think it will be enough to stem the force . I think it is appropriate that they want to make sure the monetary situation is not contractionary. Whether it will have a real impact on the economy my guess is probably not. Even if you put more money out there, chinese firms are not borrowing. It will not lead to a spur in investment. The problem in china is there is not enough demand. Katty you understand what the Chinese Government wants. What is it the communist party really wants from its Financial Market . Does it want a free and fair market, or does it want to control a government market . It is kind of confusing at the moment. It is confusing. In a policy statement a said the market should dominate. It also said the state should play a major role. Katty the state has intervened. A contradiction. They want the Exchange Rates and Interest Rates to be moving in line with market forces, but they want to influence the course of that movement. This is contradictory. Goes waycertainly up, way down, the government wants to control it and cannot. They want the Exchange Rate to move more in line with market forces, which means it should come down in value, because most people think the women be the r b is overvalued. Rnb is overvalued. Katty if youre looking at the Chinese Government response, what are you to make of this . I think hold your seat. Theres not much you can do in the interim. It is coming to america at the end of the month, president is coming to america at the end of the month, and then to your. Katty how much credibility does he come coming at of the crash. He is nervous. He is not making many statements. He feels there is pressure. The signals are confusing. He is trying to construct a get himself back together again. Katty thank you very much for coming in. You are welcome. Katty french authorities have opened a terrorist investigation of board the boarded attack on the french train last friday. Elkhazzani watched a jihadi video just before taking out his gun. He is in court on tuesday. He was barefoot, blindfolded, and his hands were bound behind his back. He told police he was only planning a robbery. This video was taken by one of the americans who overpowered him. It shows the moroccan tied up and taken and lying on the floor of the train. His rifle had been torn from his hands. , he wasrain platform handed over to the police. He was still tied up. He was manhandled off to custody where he has remained ever since. He has always denied being a terrorist. He says he found weapons in a park in belgium and used it to try to rob tear rob passengers. A french prosecutor said a former terror investigation would be launched into the activities of Ayoub Elkhazzani. The prosecutor said that Ayoub Elkhazzani was found with 9 rifle magazines containing 270 bullets and that he had a container of petrol, and had watched a jihadi video just before the attack. The individual, Ayoub Elkhazzani, was known for his involvement and radicalism and had recently went to turkey with a root possibly too seriou with a route possibly to syria. He had weapons capable of causing death or serious injury to a larger number of people. He is not very credible as to how he got a hold of his weapons. In order toy he had travel and to buy a firstclass ticket on this train at the cost of 149 euros. For their part in foiling it, the french president Francois Hollande gave three Young Americans and a british businessman the countrys highest award, the legion of honor. One of those heroes, 23yearold student Anthony Sadler is making the most of his time in the sun. He was a special guest at a movie premiere in paris. He will soon have to get back down to earth. To california tomorrow. That is next for me. Just trying to go back home, get settled down. I have school next week. Im trying to settle down before i start school. French authorities have made it clear that Anthony Sadler and his friends stopped real carnage on the train. Bbc news. Katty you are watching bbc world news america. This program,on after 8 years as Vice President , could joe biden have his eyes on the top job. Well tell you about the president ial speculation in overdrive. Looking for a new job, how does this one sound . Experienced pa wanted to manage the diary of the busy british client, you will be paid 94,000 dollars. You will have to keep his fruit stopped and helped turn him into a global brand. Youll have to keep his fridge stocks and help turn him into a global brand. He wants someone to help manage his diary. And madman arranged travel, app,eate a Jermaine Defoe pick up his dry cleaning, help to run his football academy, ensure that he gets his lunch, by his suits, be in charge of birthdays and mothers day, keep in the fridge well stocked, insure the house is clean. You will be in charge of the Jermaine Defoe international brand. Very nice. Jobt is an interesting application. Developing a global brand takes years, investments, highly skilled multimillion dollar corporations. Not generally the job of someone whose other responsibilities include stocking the fridge. Back to the list, there is more. Create a clothing line, fragrance, ecommerce line on his website. Starting of his own Sports Management company. Who know all about running around looking after the ,oss, looking after the boss it is part of the job. He is being clear. Description that detailed, anyone that applies know what they are getting themselves into. It will allow him to relax on the pitch knowing that one person will be in charge of his business, clothing, fragrance, family members, and pets. Ebc news. Bbc news. Weeks donald trump who dominated news about the u. S. President ial race. This week it is Vice President joe biden and he is not a candidate, yet. Speculation is rife in the capital that mr. Joe biden might be getting ready to give Hillary Clinton highprofile competition. I spoke with a National Political correspondent for the washington post. Time going to run a third for the american presidency or not . At the beginning, when the buzz started a few weeks ago, i was extremely skeptical. I am less skeptical now, but i do think that it could go either way. What does appear to be pretty certain is that the Vice President is trying to figure out a way to get to yes. He is clearly thinking about this very seriously. Everyone that i talked to, again these are primarily people this is the washington chatter, people who are two or three levels removed, but there does seem to be a very strong sense that he is more inclined to do this that he would have then a few weeks ago. Katty if youre watching this race from around the world, you are looking at a crazy field of republicans, most of whose names you do not know apart from donald trump and jeb bush. You look at the democratic field and you have been told that Hillary Clinton is the candidate what has changed . And number of things. Hillary clinton herself is facing a rough patch with a controversy over her use of a private email account. Upon,ing that was frowned and that she used this exclusively. There is a federal bureau of investigation investigation into whether classified material was mishandled. I think more than the actual nuts and bolts of this investigation is the sense, particularly among people who write checks to democratic candidates, that Hillary Clinton has not handled all of this as smoothly as they might have hoped. Katty we are year out from this election, but it is never too early to speculate about campaigns, when you look at the race of until now, what is the American Public looking for, do you think, from the next president . I think, at this point, most of the American Public is not paying a lot of attention to all of this. It does appear that donalds support on the republican side is that a lot of people are really angry and anxious to send a message that they are sick of politics the way it is. We have seen Something Like this on the left as well, where bernie sanders, the senator from vermont who describes himself as a socialist he is way behind Hillary Clinton in the polls, but he is getting crowds in the tens of thousands. Katty it is an amazing race. We will have more conversations like this. Thank you, very much. Joe biden first ran in 1988. Will he run again . President obama will travel to new orleans to commemorate the 10 Year Anniversary of Hurricane Katrina. When the storm broke the levees, much of the city flooded and nearly 2000 people died. Our reporter has gone to new orleans to see how the city has fared. Happenedg back to what 10 years ago, i told the story radio, the one station that remained on the air in the aftermath of Hurricane Katrina and became a lifeline for people in the city. This is the presocial media age, people were listening to the station on batteryoperated radios. Many phoned and in distress, others were looking for family members who were lost. Theirdio handed me archives from that time and it painted a vivid picture of what happened a decade ago. We were trying to get out, we had a baby. Voices of desperation amid the devastation of Hurricane Katrina. House is underwater. Me and my husband have a 3yearold and a newborn. We are stuck with no water. One of the 80s is running one of the babies is running a high fever. This was called into the only Radio Station on the air in new orleans. Stay with us. We are your lighthouse gang in this moment of darkness. Ls headquarters were ravaged by the wind. Early in the city you are on wwl. This whole area is flooded. System designed to protect new orleans from flooding had failed. We were on the floor looking at the water rise. The car is under water completely. We do not have any way to get out. It is just coming up. Would be thehis last person that would hear my voice if we did not get out. It was rising. She escaped with her husband by boat. They spent a year in Houston Texas before returning to the same house. Us out ofand got here. He and my neighbor next door saved a lot of people. Orleans pleaded for salvation, many people had asked why the government had not sent help. That is when the citys mayor phoned into the station unannounced. Excuse my french everybody in america. Pissed. I am get off of your asses and lets amn disasterest godd in this country. People are dying. They do not have homes. The city of new orleans will never be the same. We were both pretty speechless. I dont know what to say. Keep in touch. Keep in touch. Ok. Can we take a break . We had people dying. We had people that we knew were not going to make it. We had their relatives here. That was tough. That was hard. That was beyond hard. That was the worst part. I think that fueled the anger even more. A the Radio Station provided voice for people during Hurricane Katrina. Today, the scars of the storm are still visible. While much of the city has been rebuilt, many homes and buildings remain untouched and serve as a painful reminder of what happened here 10 years ago. Bbc news, new orleans. Radio. The story of wwl picking out on what the mayor ray nagin said, this city will never be the same. To what extent is new orleans different different 10 years after katrina . Many people i spoke to in new orleans say that they approach this anniversary with a bittersweet attitude. On one hand, people talk about the renaissance of new orleans, the rebirth, and billions of dollars of money that was pumped into the city. For example, new orleans has more restaurants than it did before katrina. Katty the French Quarter was buzzing when i went not long ago. Other areas have not picked up. People praised the school system. The state took over all schools. It is a Charter School system which many say has boosted education. Are otherd, there areas that remain untouched, as we saw in those pictures. Youre telling me earlier that the demographics of new orleans has changed because of the storm. Looking at 80 of the population today that was there before katrina. In the years afterward, that population fell by nearly half. Wasle like arlene, who featured in the report, went away and came back. Part of the returning population, there are people that are coming in because of the economic investment. The character has changed as a result. It is still a predominantly lack but it is now 60 from 67 . All of the africanamerican areas are still hurting. Like the mid city and the lower ninth. They have not been rebuilt. Public housing was never rebuilt. One thing that did not change is the spirit of the city. People say that new orleans will always be a positive and hedoni stic city. , thank you katty kay for watching. We will see you again tomorrow. Make sense of International News at bbc. Com news. Funding of this presentation is made possible by the freeman foundation, newmans own Foundation Giving all profits from newmans own to charity and pursuing the common good, Kovler Foundation pursuing solutions for americas neglected needs, and mufg. It is a global truth. We can do more when we work together. At mufg, our banking relationships span cultures and support almost every institute across the globe, because success takes partnership, and only through discipline and trust can we create something greater than ourselves. Mufg, we build relationships that build the world. Bbc world news was presented by kcet los angeles. Puppet master, i know you turned 6 people into puppets. 2 of them were my agents. If you dont fix it by sundown, youll be cute puppets forever. man screaming quick back to the lab odd squad is made possible in part by. A cooperative agreement with the u. S. Department of education, the corporation for public broadcastings ready to learn grant, and by contributions to your pbs station from viewers like you. Thank you. Ive. This is my partner, agent otto. This is what came first. But back to otto and me. We work for an organization run by kids that investigates anything strange, weird, and especially, odd. 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