we will look at taiwan in the moment and the implications of nancy pelosi s trip there. we start with oil and the impact high prices is having on the global economy. nearly every country is struggling with the climbing cost of oil and gas as it fuels inflation and households struggle to pay bills so much so that president biden visited saudi arabia last month to persuade the major oil producer to increase supply and cool soaring prices. saudi arabia meets today with the other members of opec plus to decide on their next move. our middle east business correspondent sameer hashmi has more. another opec plus meeting but this one is a crucial one that comes with them if as of august producing the same amount you are back most members of opec plus in the uae only to members which have limited spare capacity. that boils down to them whether they will be able to boost production substantially to balance the market and bring down oil prices. it s very unlikely they are going to mak
this continues that could really take a chunk out of those trade figures. reason we are starting to see these military exercises take place china has already sent some military jets china has already sent some militaryjets over after nancy military jets over after nancy close militaryjets over after nancy close he landed and threatening to do more military exercises, is that the taiwan straits one of the busiest bodies of water when it comes to container ships. if we start to see traffic slowed down there, it s not good for the global economy. not good for the global economy- not good for the global econom. ., ~ let,s focus on taiwan, nancy pelosi has just been talking about the success taiwan has seen in developing its tech industry and how it is a model for other countries. taiwan made computer chips power everything from smartphones to cars and fridges. a recent report showed that more than 60% of the world s made to order chips are produced in taiwan, at semiconductor firms
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