by 11 of the 31 members of the alliance. uk prime minister rishi sunak is expected to urge nato allies to learn the lessons from russia s invasion of ukraine and invest more in defence. joining me now is hugo brennan, research director at the risk intelligence company verisk maplecroft. good morning to you, hugo. so, just talk us through the level of defence spending going on at the moment. because this has been a contentious issue for years within nato, hasn t it? it very much has been, yeah. i mean, the first thing to say is the question of who foots the bill to pay for the alliance? as you say, that s long been a question mark. you ll remember back to 2019, when donald trump made it very much top of the agenda. and again, it s going to be in this latest nato summit. as you said, we re expecting some sort of agreement that will make it a requirement for nato member states to spend at least 2% of their gdp on defence spending, which would build on that 2014 agreement you r
have the ability to keep making so called virgin steal from scratch within the uk. there are also clearly concerned about the workforce here. while there are plans to bring a free port to port talbot, potentially building aviation fuel plant here, too, those plans are in the medium to long term, there is nothing to immediately shift these workers do. at £100 million pot has been announced to potentially help workers to retrain or find other work. it would be very difficult to find a pathway forward until those other potential major employers arrive in port talbot. arrive in port talbot. thank you very much arrive in port talbot. thank you very much indeed. arrive in port talbot. thank you | very much indeed. presumably, arrive in port talbot. thank you - very much indeed. presumably, the fallout from this will be analysed now. what is your expectation as to where it goes in terms of steel production in the uk in the short term? ., , ., , ., production in the uk in the s
to respond to local government debt and real estate troubles. another priority is to get financial regulators to work more closely together so they can co ordinate the event of an economic shock. janet yellen is slowly emerging as a key player in the biden administration s handling of this challenging relationship between the world s two superpowers and she said she plans to visit china again and she said she plans to visit china again next year, her second visit since july. china industrial output grew 6%, faster than the 4.6% gain in october. retail sales also grew but missed forecast chinese consumers have been reluctant to spend amid a deepening crisis in the country s property sector and economic slowdown. a majorfault line between washington and beijing is the race to develop semiconductors. chips power everything from smartphones to military highend equipment and are increasingly seen as crucial to the global economy. south korea and the netherlands two keynotes south
local government that and real estate troubles. another priority is to get financial regulators to work more closely together so they can co ordinate the event of an economic shock. janet yellen is a slowly emerging as a key player in the biden administration s handling of this challenging relationship between the world s two superpowers and she said she plans to visit china again next year, a second visit since july. a majorfault line between washington and beijing is a race to develop semiconductors. chips power everything from smart on stuani and military equipment and are increasingly seen as crucial to the global economy. smartphones to eye hand equipment. career and the netherlands to keynotes in the global chip production, said they are partnering up as well. south korea. translation: 0ur south korea. translation: our two countries have decided to establish a semiconductor alliance encompassing governments, businesses and universities. the netherlands are the
northern ireland but arriving late in the day. temperatures, high teens to low 20s and it will feel warm in the may sunshine and the sunshine is stronger this time of the year so there will be high levels of uv. are out for any level of time might be worth considering suncream. similar on sunday, best of the sunshine in england and wales, scotland and northern ireland cloudy and bright, one or two bits of rain and the temperature is similar, it s going to be quite a one weekend for most of us. nice one, chris, thanks for that. chris fawkes. that s it. more analysis of the main stories on newsnight coming up on bbc two with faisal islam but now the news continues here on bbc one as we join our colleagues across the nations and regions for all of the news where you are. i have a very good night. the economic ascent of china with significant consequences for production of electric vehicles, batteries and microchips. in this new world, does the uk have a strategy? china calls the