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Transcripts For BBCNEWS Asia 20240702

the global chief partnership. simon baptist is the global chief economist i partnership. simon baptist is the global chief economist atj the global chief economist at the global chief economist at the ir un said australia was never a good target for china to have tensions with. it is never a good target for china to have tensions with.- to have tensions with. it is a sli . ht to have tensions with. it is a slight stabilisation to have tensions with. it is a slight stabilisation peptides| slight stabilisation peptides will remain quite difficult the foreseeable future. this recent incident over the last few years really shows the limit and some ways the lack of sufficient nation of chinese foreign policy. australia was a bad target for china to choose. this was going to side with the us when push comes to shove because of its resource endowment, it has unusually large amounts leverage. push by china on australia hasjust resulted firstly in australia doubling down on divers

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Transcripts For BBCNEWS Asia 20240702

the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of somewhere between $10 billion and $50 billion according to the bankruptcy report. we need to remember this was one of the most exciting projects on the horizon. it was worth $47 billion largely due to a chunk of investment from softbank but wall street were also excited, jp wall street were also excited, jp morgan chase was one of its first big investors. its co founder adam newman projected tremendous growth and took on expensive leases in big cities like new york and london and even here in singapore. but itjust never quite reached its profitability. and like so many industries, the covid 19 pandemic really impacted because a lot of clients now who had memberships with this company have pulled out because many of their workers are now working from home and they have done away with the real estate industry. as we have been reading this mornin

Trade partnersWelcome to asia business reportMariko oiBankruptcy protectionUnited states50 billion0 billionMonica millerReal estate industry functions10 billionJp morgan chaseWall street47 billion7 billionAdam newmanNew york

Transcripts For BBCNEWS Asia 20240702

grappling with losses in debt since 2019. it was backed by soft bank ofjapan and has reshaped the office sector globally but it has now sought us bankruptcy protection on monday after its bets on companies using more of its coworking space sound. that is just coming out. we should have the latest news on our website and we will bring you more as we get it. that breaking news justin, wework has filed for bankruptcy protection in the united states due to heavy losses that it has been suffering since 2019. let s move on to beijing, where australia s prime minister has met chinese prime minister xi jinping. the leaders have expressed a desire to work together and move on from recent tensions. their relationship soured during the pandemic, after australia s previous government called for an independent intervention into the origins of covid 19. beijing slapped bans on products such as wheat, corn and barley. the tariffs which were only lifted this year. this is the chinese leader.

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