Chinas economy on track as well as internationally as a country tries to navigate a rather tense geopolitical environment. Ive been speaking to and economy of cornell university. He told me how the belt and Road Initiative had achieved mixed results for china. ,. , china. The belt and Road Initiative china. The belt and Road Initiative was china. The belt and Road Initiative was chinas china. The belt and Road Initiative was chinas attempt to use its economic muscle in order to gain both geopolitical and economic inroads and at the same time broaden its economic breach by providing opportunities for other countries and their transport and other infrastructure nets that try to link china with other countries. Some of these have not paid off very well, evenin have not paid off very well, even in times of economic terms or geopolitical terms. China is getting pushback from countries that feel they have incurred debts to china that will be very difficult to pay off. I think this is an attempt by the jinping administration to put the belton Road Initiative back on track and tried once again find a way to garner those and geopolitical benefits that beijing has been seeking for some time now. Beijing has been seeking for some time now. You have any tanuible some time now. You have any tangible expectations some time now. You have any tangible expectations from. Some time now. You have any| tangible expectations from this forum . I tangible expectations from this forum . ~ , forum . I think we might see new Investment Forum . I think we might see new Investment Opportunities forum . I think we might see new Investment Opportunities that. Investment opportunities that beijing starts to announce but the bigger issue i think is going to be to reassure its partners in the belton Road Initiative that in fact china has their interest and mind is state ofjustice own interests and any further. Is not done on inaudible terms with participating countries and it will provide economic advantages to them as well. ,. , well. Essentially, there will be rebooting well. Essentially, there will be rebooting the well. Essentially, there will be rebooting the belton well. Essentially, there will. Be rebooting the belton Road Initiative in a way that makes it more appealing to all the other partners who have engaged with this effort. We will be rolling out some special coverage both today as well as tomorrow so we start with three linker today, which has been one country where the belton road projects have had mixed success. Bbc senior corresponded travel to sri lanka to get us this report. It is very often held up as an example of everything that has gone wrong with chinas belt and Road Initiative. It was started in 2010 but very quickly sri lanka had to leave it out to china for 99 years because it was not generating enough revenue for them to repay the debt. Lease this Letter Allegation that columbo was having to seek control over Strategic National asset. And then there is this the airportjust a few kilometres away. It is yet another example of a project that has gone wrong. It is often called the emptiness to airport in the world star it has the capacity to handle about one million passengers but in reality only gets about 10 of that every year. This has led to many commentators say that china is practising some kind of Deathtrap Diplomacy with this project. Sadly, it has left countries with low they cannot repay and it often takes control of some of those strategic asset. It is a theory that has been debunked in recent years by several independent expert. Here is why. Forall the independent expert. Here is why. For all the failures the bri has delivered sicknesses and successes in columbus well. The Container Terminal is one example. Also half the countrys expressways are either built or funded by china and these investments came in at a crucialjuncture. At a crucialjuncture. These investments at a crucialjuncture. These investments were at a crucialjuncture. These investments were useful i at a crucialjuncture. These J Investments were useful to complimentary like as Economic Development after the end of the world. However, sri lanka did not do the Master Planning to have these investments deliver proper rates of return. Second, chinas policy banks probably push the money on to aid economy that did not have the capacity to evaluate them properly. The capacity to evaluate them roerl. � the capacity to evaluate them ro erl. �. , the capacity to evaluate them roerl. �. , the capacity to evaluate them roerl. �. , properly. The belt and road has limited complex properly. The belt and road has limited complex legacy properly. The belt and road has limited complex legacy here limited complex legacy here entry linker. Fresh investments under the initiative will not come by at least the next few years. Closer to home, come by at least the next few years. Closerto home, chinas stoic economy is of top concern. In a few hours time we will be hearing from china as they release the Third Quarter gdp numbers as well as Industrial Production and retail sales data. It illustrates different facets of exports as well as domestic demand in the economy. We will keep a close watch on those numbers as they come out shortly. A big drag on the economy is of course been chinas troubled real estate companies. Debtladen Property Developers are struggling to finish projects and Payback Interest on Loans Ta Ken Finish Projects and Payback Interest on loans taken out in yuan and dollars. That is the case with Country Garden and the clock is ticking for chinas largest Property Developer which could see its entire offshore debt deemed in default if it fails to make a 15 million coupon payment. I have been speaking to the chance of starters north asia cheap Investment Officer on the implications. Cheap Investment Officer on the implications implications. Should there be another default implications. Should there be another default this implications. Should there be another default this will implications. Should there be another default this will be i implications. Should there be another default this will be of concern about the Housing Market in china. 0ver concern about the Housing Market in china. Over the last three months, we have already seen quite a bit of mergers to try to support boosting Housing Demand here, including Relaxing Downpayment Ratios as well as mortgage rates. But when we track the property sells numbers for the month of september, it did go up 28 month on month, but on a year on year basis it still came down 29 . So i think to back major trends of note first, we has been gradual but very uneven across city. We saw much better traction in tijuana cities than the lower ones. Secondly, we think the divergences in terms of contract and Self Performance would be very evident in terms of the soa the state owned developers, first as the state owned developers have been able to garner much better sales momentum. To garner much better sales momentum to garner much better sales momentum. Are you satisfied with the kind momentum. Are you satisfied with the kind of momentum. Are you satisfied with the kind of measures momentum. Are you satisfied| with the kind of measures and policies taken at government level . , w. , level . Given the fact that the month of level . Given the fact that the month of september level . Given the fact that the month of september Contract Sales remain somewhat sluggish, as we talked about, i think market will likely seek more co ordinated policy approach in order to restore confidence, trust in the market. So, as we go into the npc bimonthly Standard Committee meeting, at the end of the month, we are hoping that there will be much more supportive measures to come through, especially on the supply front. So, specifically we think it is important for these developers to have better funding access, as well as some more support in order to make sure that they can guarantee some presell so delivery. 0therwise confidence will remain very low at this level. And of course other Us Tech Companies are being impacted by the deteriorating us china relations. Chipmaker nvidia is usually a Star Performer on the s p 500 but on tuesday was one of the worst performance of the index. It shares and other companies in the chip sector fell after the Biden Administration announced plans to cut off more exports of advanced trips to china. The bbc� s erin delmore has more from new york. If this sounds slightly familiar it is because the Us Commerce Department announced Export Controls on chips last october. This new set of measures aims to close loopholes of parents in. The aim has not changed but the goal is to prevent china from receiving technology from the us to strengthen its military. It is broader than we have seen in the past, targeting not only advanced chips designed by nvidia but as well as others as well as trip making tool. It targets not only china but also iran and russia. It also blacklist too china but also iran and russia. It also blacklist to make chinese chip designers. The rout speaks to to make issue. 0ne designers. The rout speaks to to make issue. One is the value of Generative Ai and the per important subject that powered that take. Into mac, long simmering tensions with china and the Bidens Administration aims to contain china without helping, hurting the country economically. Spoke, spoke person said it firmly opposes the restrictions. Criticised as overly broad, unilateral controls that ms carney the us. Without advancing National Security and that would encourage overseas customers to look elsewhere. The rules go into effect in 30 days. That was erin dan more that getting us the very latest from new york. But on that nvidia has responded to the curbs in a filing on tuesday. Lets get you more on what they said, the chipmaker sank the new restrictions were blocked sales of to make high end Artificial Intelligence trips that were created specifically to comply with previous us rules for the chinese market. They will also block exports to china of its top of the lamp direct line gaming chip. Thats all we have you on the show but do stay on with bbc news for more news and updates. In an Upcycling Shop in headingley, a transformation is under way. Josefin is using her skill and creativity to help solve a shameful problem. Along with her partner, james, the couple are trying to make fashion more sustainable starting on their own doorstep. Who could forget these shocking images of the tents and Camping Equipment left behind after Leeds Festival . Hundreds of items treated as disposable and destined for landfill. It was a bit grim, to be honest. A lot of people have a throwaway mindset. But tents arent single use theyre very durable fabric that can be used again and again. And when i sawjust how much stuff had been left behind, it was really shocking. Along with other charities and upcyclers, james retrieved tents and Sleeping Bags to make into something new. So weve got a laptop case, bum bag. Weve got what we call a festival bag its supposed to be worn over your shoulder like that. Its an interesting, exciting opportunity for us because weve not worked with that kind of material before. Ive worked a lot with cotton and silk in the past, because thats usually the second hand material we find and reuse. So i find the whole Experimentation Process of it very interesting. For more stories from across the uk, head to the bbc news website. Hey, im stephen with the catch up. We are starting with news from the war in the middle east. Palestinian Health Officials say hundreds of people have been killed in an israeli air strike that hit a hospital in central gaza. We have heard from a british Palestinian Surgeon working at the hospital. He says parts of it were on fire. The Israeli Military says it is investigating what happened. You can follow all the latest on this story on a page on the bbc news website and app. Elsewhere, eight british teenager who went missing after attacks by hamas gunmen in israel is now known to have died. He was 13 and lived in southern israel near the border with gaza. Her mother was also killed and her sister and dad are still missing. Herfamily have called her beautiful, full of adventure and mischief and said they will forever miss her. Next, a blue for lgbtq couples in india. The countrys top court has decided not to legalise same sex marriage, Dividejudges Rule Legalise same sex marriage, divide judges rule that it is P Divide Judges rule that it is up to the government to decide whether couples should be able to open a joint bank account. The s p. Announced a new scheme to help women escape abusive relationship. They will get up to £1000 for essentials like rent and clothing. And time to leave you with ten seconds of a dream job. Well, maybe if youre a fan of cambridge united. They are looking for someone to become the mascot marvin the blue. They say you have to be fun and energetic. Imagine being paid to do that . It sounds pretty ideal for to do that . It sounds pretty idealfor me. You are all caught up. Have a very good night. Hello and welcome to sportsday. Im paul scott. Heres whats coming up. England reach euro 2024 they beat the defending champions, italy, to book their place in germany. A shock at the Cricket World Cup The Netherlands beat south africa for their first win at this years tournament. Perhaps south africas rugby players can have more success. They prepare for their World Cup Semi Final Showdown with england. Hello and welcome to the programme. England have qualified for next years european football championships, with two games to spare, after a 3 1win over italy at wembley. The defending champions hopes of qualifying automatically are hanging by a thread. Joe wilson was watching
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