Transcripts For BBCNEWS Asia 20240704

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the boards for its shares to start trading but the company was once china's largest real estate company but it has defaulted back into 2021 and it is believed to have had at least, at one point, more than $300 billion in debt. recently told investors that it lost more than $80 billion over the last two years and yesterday morning just before its shares started trading it also told us that it lost another 11.5 billion in the first six months of this year. that is still half of what it lost last year. recently the company filed for bankruptcy protection in the united states. the company has become something of a symbol of the nationwide property crisis that many feared it could spill over globally and there have been other developers warning us about a huge loss it could face as well. but for the second day, trading after the suspension was lifted, the shares are down by 14% after falling 80% yesterday. as we have been reporting, the us commerce secretary is in beijing this week. on monday she met her chinese counterpart, describing the discussions as open and pragmatic. the countries have pledged to hold regular meetings between business representatives, with a focus on commercial issues. representatives will also meet to exchange information on export controls, and the first meeting is today. our business reporter has this update. the following report has some flashing images. gina raimondo�*s visit is the latest in a series of top american diplomats to have visited china recently, including janet yellen, antony blinken and the us climate envoyjohn kerry. all in the last three months. despite all these meetings, relations between the world's two largest economies are at their most tense in years. last august the us passed the chips act, specifically aimed at growing domestic chip making business and blocking china's industry. beijing responded in turn including restricting export of chip—making materials to the usand it all comes in the same week as export controls kick in in the netherlands, preventing one of the world's biggest makers of chips, asml, from exporting without a license, something china has complained about and analysts say would only make us—china relations worse. this comes as president biden prepares to visit vietnam. along with the united states trying to increase production at home, vietnam is seen as an alternative destination for the united states to outsource manufacturing, rather than putting all of its eggs on the one basket that is china. the country is having a hard time maintaining its status as the world's manufacturing hub, making it all the more difficult to bounce back after the pandemic. trade policies have also become a problem between economies. raimondo said it was profoundly important to have stable ties but the asian trade centre says it is unclear what beijing's position should be during this visit. from the chinese perspective it is unclear what exactly they expect to do and what it is that they should be delivering or how they might orient themselves differently that would satisfy american demand and from a us perspective they want to make sure that the chinese understand us concerns, understand where the parameters on policy are and i think the big challenge is, for everyone else, where are those parameters, where does the yard end, the fence stop and is that where it will ultimately land and does it keep growing taller. for the rest of us in asia that is a very important question. as you mentioned she is the fourth high—level official to visit china but i want to ask you why the secretary of commerce, not a trade representative from the united states visiting china? that is a great question. i think you will need to see more official visits. it used to be a regular feature of us—china relations that we had ongoing dialogue regularly scheduled dialogue and those were disrupted, covid, trade war et cetera, getting back to that rhythm is important to get high—level officials and the commerce secretary runs many of the programmes that are of particular interest to the chinese, especially around export controls, issues on semiconductors, the rollout of many of the policies related to the ira bill so it is the commerce secretary that has, the portfolio for more of the concerns that china has at the moment. staff at chevron�*s two lng plants in australia have chosen to go on strike in an ongoing dispute over pain conditions. —— pay and conditions. the projects account for 5% of the lng production and fears over industrial action have already had an impact on oil and gas prices. the union said strikes will begin next week and will include rolling stoppages and bans and limitations on certain tasks. last week a similar dispute at rival woodside was resolved. now to the aviation sector in china. a number of chinese carriers report earnings this week including china southern later today as well as air china and china eastern later this week. they quickly re—established domestic flights after covid restrictions were lifted but the statistics for international flights, there is not been a strong response from chinese flyers. an industry analyst told me earlier what is stopping chinese travel from rebounding. it takes time to restore capacity because these were aircraft grounded for a very long period of time and it does take time to put those aircraft into maintenance and train people, so that is why we see the capacity not bouncing back so quickly. it just takes time. flight cost has surged, notjust in china but around the world. is that one of the reasons? maybe passengers are reluctant to go overseas? because the capacity is not fully restored there are limited capacity and that pushes the airfare up higher and for many of the chinese tourists they are price sensitive, particularly those who travel on large package tours. they are very price sensitive and price conscious consumers so until the prices come down you will not see those groups coming in such large numbers. when you do travel around southeast asia we see chinese tourists around. we see chinese airlines flying in but it is just not at the level it was before. we have been talking a lot about weak economic data from china. are you concerned that that could have an impact on travel demand? there will always be a group of chinese consumers who we see who have good income and are doing quite well financially but, yes, the poor economic data and the poor situation and the lack of confidence in china and the economy right now will definitely have an impact on consumer sentiment and travel is a discretionary spending item that people can easily cut back on. how would you build an industry from scratch? that is what peru has done with the production of blueberries. this blueberry was grown in peru where ten years ago there were virtually zero plantations. now it is the largest blueberry exporter in the world. the challenge was big. they need certain conditions in winter. you are lucky to get this on the peruvian coast but elsewhere it was harder. peruvian producers used in old strategy farmers in the south have used for decades. they noticed that blueberries were very hard to harvest between august and december. during that time of year pricesjumped and farmers could get three or even four times the usual price, so peruvians developed their own varieties of blueberries that could thrive in warmer weather than a typical berry. and then producers adapted their farms to help the plants grow. a decade later, peru's blueberry industry is huge. farmers have started to grow them year around. and exported almost $1.5 billion worth of blueberries. chances are the blueberries you eat now are from there as well. that is it for the show, thank you for watching. bbc news, bringing you different stories from across the uk. ., , ., the uk. for english heritage, the uk. for english heritage, the last quarter _ the uk. for english heritage, the last quarter years - the uk. for english heritage, the last quarter years have . the last quarter years have been a labour of love in this part of derbyshire. a team of specialist workers has been busy. it specialist workers has been bus . , ., ., specialist workers has been bus. , ., ., ., ., busy. it is meant to have a roof on _ busy. it is meant to have a roof on it _ busy. it is meant to have a roof on it and _ busy. it is meant to have a roof on it and without - busy. it is meant to have a roof on it and without a - busy. it is meant to have a. roof on it and without a roof to get a lot more deterioration of the stone and of the historic plasterwork. so we were very keen to keep as much of the original plasterwork and to repair the stonework and make the site accessible for people to come and find out the whole story. people to come and find out the whole story-— whole story. what really stands out when you — whole story. what really stands out when you walk _ whole story. what really stands out when you walk around - whole story. what really stands out when you walk around is . whole story. what really stands| out when you walk around is the restoration of the decorative white plaster walls. they show ornate pictures and a bat 400 years. 500 people a day have visited the building since it reopened. but like the road bridge, the work never stops. the place will continue to deteriorate. it is an old building and does not get any younger, like the rest of us, so there is conservation work to be done in the future. but if we have not done anything it would have deteriorated much more quickly and we would not have been a label to allow the public in because it was just not safe. —— been allowed —— been able to let the public in. i am dylan with the catch up. tonight, investigating theft, air—traffic chaos and the notting hill carnival. first, prosecutors in spain have opened an investigation into the head of the spanish football association, luis rubiales after he kissed a player on the lips during the women's world cup celebrations last weekend. prosecutors are looking into whether his behaviour counts of sexual assault. hermoso said the kiss was not consensual. next, have you ever had something stolen? havana has and she said the police did nothing. i had a passport stolen. i went to the police website to report the theft and they said they could not help me with it and i would have to get a new one. it happens to many people another government says police force needs to do a betterjob of following up evidence. statistics show that most of the time no—one is charged for a theft offence and the home secretary she wants police to use footage from smart doorbells and dashcams to help solve cases. things are getting back to normal in the skies after the uk traffic control system failed earlier. hundreds of flights now face massive delays. the company that runs uk air traffic says it is working with airlines. would you get in a self—driving taxi? they recently began service in san francisco and became divisive. one group started disabling the cars by putting cones on the bonnets. finally, i am going to leave you with ten seconds of colour. the notting hill carnival, the largest street party in europe took place this weekend ringing a vibrant injection of colour and culture to the streets of west london. that is it from me. you are all caught up. hello and welcome to sportsday. i'm gavin ramjaun. here's what's coming up on the programme: is it the end of the road for rubiales? after the regional and territorial federations of the spanish football federation ask for the resignation of their president. it's success for swiatek in new york — and quickly too. she's into round two of the us open in less than an hour. but there are shocks on the opening day, as maria sakkari and holgar rune both crash out to lower—ranked opposition. and a year out from the paralympics, we're in france to see how things are shaping up ahead of the highly anticipated games. hello there and welcome along to the programme. lots to get through. and we start in spain, where it's been a huge day of developments in the story that continues to dominate world football, and the latest of which may finally spell the end of luis rubiales' time as the president

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