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Transcripts For BBCNEWS Asia 20240704

De risking strategy poses yet another threat to foreign businesses operating there. I think the biggest challenge right now is the clear message from the United States government coming right out of the white house that theyre encouraging us businesses to essentially what they call de risk from china, that theyre encouraging us businesses to limit investment in china, especially when it has to do with industries that touch on National Security concerns. One of the things that china had introduced over the weekend, theyre offering Tax Incentives as well as help with visas. But is that going to work . I dont think so. Not right off the bat. And i think the State Council recently issued some guidelines in an attempt to essentially make investments in china more attractive. And i think it shows us three major things. The first is that it demonstrates that china knows that its got a problem. Its economy is slowing. Its got a housing bubble, unemployment is particularly high and Foreign Inve

Transcripts For BBCNEWS Asia 20240704

Has to do with industries that touch on National Security concerns. One of the things that china had introduced over the weekend, theyre offering Tax Incentives as well as help with visas. But is that going to work . I dont think so. Not right off the bat. And i think the State Council recently issued some guidelines in an attempt to essentially make investments in china more attractive. And i think it shows us three major things. The first is that it demonstrates that china knows that its got a problem. Its economy is slowing. Its got a housing bubble, unemployment is particularly high and Foreign Investment is beginning to slow down. The second thing is theyre saying the right things, that theyre providing Tax Incentives and theyre trying to theyre indicating that theyre going to protect intellectual Property Rights and theyre trying to make the country look more attractive for foreign investors. But i think the third thing is the most important, and thats us companies and Multinatio

Transcripts For BBCNEWS World 20240704

China is experiencing a rare episode of sliding prices. Japans economy experienced this back in the 1990s and early 2000s. Now, this comes hot the heels of disappointing china trade data on tuesday, which showed that exports sank at their fastest rate since the pandemic, dropping by more 14 in the year tojuly, with imports also falling by more than 12 in the same period. Joining me now is duncan wrigley, Chief China Economist at pantheon macroeconomics. Thank you very much for being with us today. The Rest Of The World looking on in amazement. Considering the inflationary pressures the rest of us are dealing with. What do you read Between The Lines in this latest data . Between the lines in this latest data . Latest data . Ok, i mean, there are some latest data . Ok, i mean, there are some shortterm latest data . Ok, i mean, there are some shortterm factors i are some short term factors that push down the data for this month, there has been a surge of seasonal vegetables, the big pictu

Transcripts For BBCNEWS Asia 20240704

Shares in Goldman Sachs fell 2 . The catalyst was moodys, downgrading the Credit Rating on several small and medium sized us banks, including mnt bank and pinnacle financial. The red flags raised by the Ratings Agency included a potential recession, as well as problems tied to the commercial real estate sector. As one analyst put it, any doubts about regional banking is bad for market sentiment. That wasnt helped by data from new york federal reserve, which showed that for the first time, americans owed more than 1 trillion on their credit cards. Traders have also been focused on corporate results, which so far have been better than expected. That was true for lyft, which reported results after the us market closed. Uber s small arrival is forecasting higher revenue in the Third Quarter based in part on a post pandemic rebound in ridesharing. Meanwhile, Electric Vehicle maker rivium posted a narrower lost than expeted and raised its Production Guidance for the full year. Meanwhile, Nin

Transcripts For BBCNEWS World 20240704

In the 90s and early noughties. This comes hot off the heels of disappointing china trade data on tuesday showing exports sank at their fastest rate since the pandemic. Global demand for chinese made goods is falling down more 14 in the year tojuly. But domestic demand is down, too, with imports also falling by more than 12 in the same period. Earlier, i spoke to janet mui, whos the head of Market Analysis at rbc brewin dolphin, and she explained where the deflation was coming from. Deflation data, basically mostly coming from food prices and also commodities prices like raw materials, energy, etc. Actually, if you look at the underlying inflation. Things like services, things like tourism, leisure, hotels, actually they are up. The Core Inflation is up from 0. 4 to 0. 8 , but obviously its still pretty muted. So overall, i think it is a concern that china prices are contracting and it could be lasting for a while as well. How likely do you think it is, though, that china is going to

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