Transcripts For BBCNEWS World 20240702

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we have been worried about the chinese economy for some time now. does this downgrade suggest things are getting worse? goad does this downgrade suggest things are getting worse?— are getting worse? good afternoon. this is a reminder _ are getting worse? good afternoon. this is a reminder of _ are getting worse? good afternoon. this is a reminder of what _ are getting worse? good afternoon. this is a reminder of what investors| this is a reminder of what investors already know which is a slower economy and a downturn in the manufacturing sector, and the government exactly going back to the old way, they want to reduce debt in this estimate but it is proving to be very difficult, so the stimulus measures are what is worrying moody's, so they think it will raise the debt level in the economy, so it is just a the debt level in the economy, so it isjust a reminder. it the debt level in the economy, so it is just a reminder. it does the debt level in the economy, so it isjust a reminder. it does not change too much of what investors already think about china. fix, lat change too much of what investors already think about china.- already think about china. a lot of --eole already think about china. a lot of peeple said _ already think about china. a lot of people said beijing _ already think about china. a lot of people said beijing should - already think about china. a lot of people said beijing should have i already think about china. a lot of i people said beijing should have done more to stimulate its economy and insulate its property developers and maybe this is why it was reluctant. can you shed any light? the chinese government — can you shed any light? the chinese government is _ can you shed any light? the chinese government is well _ can you shed any light? the chinese government is well aware _ can you shed any light? the chinese government is well aware of - can you shed any light? the chinese government is well aware of the - can you shed any light? the chinese| government is well aware of the debt problem and the debt—to—gdp ratio is 280% according to some estimates, so sky—high, so that is why they have tried to de—risk the economy and thatis tried to de—risk the economy and that is what led to the real estate downturn because property developers were having trouble with liquidity. given the slowdown of the economy, there is no other way to get around, but to stimulate the sector again. so it is a reminder of how difficult it is for china to shift away from this old way of managing its economy, which is by borrowing for manufacturing and development. what manufacturing and development. what would happen. — manufacturing and development. what would happen, remind us of the consequences if they were allowed to implode completely, companies like evergrande? implode completely, companies like ever: rande? , implode completely, companies like evergrande?— evergrande? these developers were bankru -t evergrande? these developers were bankruot and _ evergrande? these developers were bankruot and it _ evergrande? these developers were bankrupt and it is _ evergrande? these developers were bankrupt and it is important, - evergrande? these developers were bankrupt and it is important, within | bankrupt and it is important, within the chinese property sector, that is why the sentiment in the sector has been negatively impacted and that is why buyers are not confident in buying because if you have a top property developer in china under these kind of circumstances, then people are concerned. the chinese government is well aware of that and thatis government is well aware of that and that is why they are doing all they can to stimulate housing demand including reducing the down payment ratio for households and a number of measures. the chinese government is proposing state owned banks to lend to these troubled developers in order to stop further contagion into the financial system, for example, so i think the credit downgrade is not going to stop the chinese government from continuing to push on the economy. we government from continuing to push on the economy-— government from continuing to push on the economy. we have got to leave it there but thanks _ on the economy. we have got to leave it there but thanks for _ on the economy. we have got to leave it there but thanks forjoining - on the economy. we have got to leave it there but thanks forjoining us. - staying on the subject of china and its economic problems, the bbc has been to visit forest city, a $100 billion property project by the developer country garden in southern malaysia. it was a part of china's massive international investment programme, the belt and road initiative, and was designed to become home to almost a million people. eight years after forest city was launched, it's virtually empty. our asia business correspondent nick marsh spent a night in the place its few residents describe as a ghost town. music: ghost town by the specials we're injohor, right on the tip of southern malaysia, and there's something strange on the horizon. locals call it ghost city. and on first impressions, you can see why. ok, this is forest city. it's a bit dark. i think someone has forgotten to turn the lights on. it's hard to believe that anyone actually lives here. 0h, here they are. even in mid—afternoon, forest city feels more like a haunted house than a happy home. do you feel like it's a ghost town? from what i've seen so far, yes, i would have to agree. maybe you should try after 12. we may be 3,000 miles from beijing, but residents likejoanne are trying to weather a storm in china's property sector. she wants to get out of forest city. and as night started to fall, i met someone who already had. i feel freedom, to be honest. i feel free. i finally escaped this multi—billion project. it's supposed to be good. it's supposed to meet expectations, but it's frustrating. the property developer country garden sold this place as a thriving eco—friendly community, with beaches, bars, restaurants. it was a chance for chinese investors to own a second home abroad and then rent it out to locals. but as we've already seen all over china, ambition didn't match reality. chinese government controls on how much companies could borrow and how much chinese citizens could spend on foreign property have left forest city in disarray. this place was supposed to be a restaurant. i think behind me, judging by the looks of things, it was supposed to be the kitchen. country garden's slogan for this whole place was "a prime vision for future cities". but if you just take a look around, it doesn't seem that way. country garden insists that the project will be finished. but with the company facing debts of nearly $200 billion, it's hard to see how. forest city was supposed to house a million people. right now, it's 1% occupied. like so many chinese property developments, this place seems to be going nowhere. bbc news contacted country garden group in china and received no response. its malaysian operation did respond and said that... a former technician at the electric car—maker tesla has told the bbc that he thinks its assisted—driving technology — known as autopilot — is unsafe. lukasz krupski is in the uk to receive an award for deciding to blow the whistle at tesla. he leaked internal memos allegedly detailing the safety issues. the company, which is led by the controversial entrepreneur elon musk, has declined to comment. here's our tech editor zoe kleinman. over—the—air software updates ensure that autopilot gets even better... this is how tesla wants its autopilot software to be seen, assisting a human driver who is ultimately still in control. but when former employee lucasz krupski voiced concerns he felt about safety in his own workplace, and later on with the tech itself, his dream job turned into a nightmare. i became very depressed and anxious. i couldn't sleep. mr krupski was personally praised by tesla owner elon musk after putting out a fire. he claims his managers turned against him when he raised his concerns directly with the tech billionaire. he then told us he found he could easily access a huge trove of sensitive internal company data, ranging from personal staff details to safety information. he chose to hand it over to us regulators and, controversially, the press. i spoke to multiple hr partners, managers, different levels of compliance, and it didn't work. if you don't speak to compliance, what else you can do? the dutch data protection authority, where tesla's european h0 is, are looking into the data breach. some of what mr krupski says he saw continues to alarm him. i found that the car unexpectedly brakes out of nowhere, because it interpreted a shadow as, let's say, some obstacle and needs to suddenly brake. and that can put the car in danger and everyone behind as well. last month, the government announced new proposals for driverless car regulation here in the uk. in san francisco and beijing, you can hire a taxi with no human driver at all. but are we ready for the tech? so it might be relatively easy to get the technology to drive relatively safely on, say, a motorway, which is already quite a controlled environment. it might be next to impossible to get it to drive safely through central london so that we can all be really confident that it causes no additional risk. but that's all a long way away from the hype that's currently coming from the people developing the technology. do you think that tesla autopilot is safe? unfortunately not. i don't think the hardware is ready and the software is ready. so even if you don't have a tesla, your children still walk on the footpath. i have this terrifying feeling that one day a car mightjust harm them. tesla did not respond to our emails. according to its own data, at the end of 2022, us tesla customers using autopilot averaged one crash where the airbag deployed roughly every five million miles traveled. tesla drivers not using it averaged once every 1.5 million miles or so. the us driver overall average was once every 600,000 miles, but we can't independently verify tesla's figures. meanwhile, the first delivery of the car—maker's latest vehicle, the cybertruck, went ahead in the us last week. tesla's boss elon musk continues his push for a driverless future, and the uk aims to be on a similar track. zoe kleinman, bbc news. to hollywood now where members of the screen actors guild in the united states have until later today to decide whether or not to ratify their union's hard—fought deal with studios over pay and conditions. the guild has strongly urged members to back last month's agreement, saying it is a lucrative and innovative package. grievances led to a 16 week strike that cost the industry billions. we were hoping to cross to new york for additional insight but technical gremlins are preventing us from doing so. in other news... technical issues at the london stock exchange have caused delays in trading with a couple of companies. a technical glitch has twice affected the trading of some shares on the london stock exchange today. investors were temporarily unable to buy or sell shares in smaller companies including deliveroo and asos but companies on the major ftse 100 and 250 indices were unaffected. let's speak now to our north america business correspondent erin delmore. is the vote in hollywood likely to pass? is the vote in hollywood likely to -ass? . ~ is the vote in hollywood likely to ass? ., ~' ,., is the vote in hollywood likely to ass? ., ~ i. ., is the vote in hollywood likely to ass? ., ~ ., ., ., pass? thank you for dealing with our tech issues! — pass? thank you for dealing with our tech issues! we _ pass? thank you for dealing with our tech issues! we do _ pass? thank you for dealing with our tech issues! we do have _ pass? thank you for dealing with our tech issues! we do have some - tech issues! we do have some indications over the vote and remember this is the longer striking history spanning more than a hundred days, and it looks like we would be in the clear when the vote goes to ratification. a couple of sticking points, mostly around ai, and when the union reached a tentative agreement in november they mentioned several wins including one around these protection over ai and now they are proving to be some of the sticking points including synthetic actors which is digital make up that come from other actors mannerisms and some of the compensations around ai and so this is a sticking point for many of the actors. we ai and so this is a sticking point for many of the actors. we have got to leave it there _ for many of the actors. we have got to leave it there but _ for many of the actors. we have got to leave it there but sorry _ for many of the actors. we have got to leave it there but sorry for - for many of the actors. we have got to leave it there but sorry for the i to leave it there but sorry for the gremlins and thanks forjoining us. the first ever beans grown in the uk, tinned during a trial at a factory in spalding.- factory in spalding. they are delivered — factory in spalding. they are delivered in _ factory in spalding. they are delivered in this _ factory in spalding. they are delivered in this format - factory in spalding. they are delivered in this format and | factory in spalding. they are - delivered in this format and that we have got to rehydrate them and then the next process is to put them into the next process is to put them into the can and then we add the tomato sauce and spices.— the can and then we add the tomato | sauce and spices._ they sauce and spices. what spices? they are a trade secret. _ sauce and spices. what spices? they are a trade secret. but _ sauce and spices. what spices? they are a trade secret. but what - sauce and spices. what spices? they are a trade secret. but what do - sauce and spices. what spices? they are a trade secret. but what do the l are a trade secret. but what do the treat are a trade secret. but what do the great british _ are a trade secret. but what do the great british public— are a trade secret. but what do the great british public think? - are a trade secret. but what do the great british public think? yeah, i great british public think? yeah, all riuht. great british public think? yeah, all right- they — great british public think? yeah, all right. they taste _ great british public think? yeah, all right. they taste like - great british public think? yeah, all right. they taste like normall all right. they taste like normal beans — all right. they taste like normal beans i— all right. they taste like normal beans. ~ , all right. they taste like normal beans. ~' , ., ., beans. i think they are ok. i would bu that, beans. i think they are ok. i would buy that. yes- _ beans. i think they are ok. i would buy that, yes. they _ beans. i think they are ok. i would buy that, yes. they are _ beans. i think they are ok. i would buy that, yes. they are better- beans. i think they are ok. i would j buy that, yes. they are better than heinz beans- _ buy that, yes. they are better than heinz beans. the _ buy that, yes. they are better than heinz beans. the seeds _ buy that, yes. they are better than heinz beans. the seeds for- buy that, yes. they are better than heinz beans. the seeds for the - buy that, yes. they are better than i heinz beans. the seeds for the beans took 12 years — heinz beans. the seeds for the beans took 12 years to _ heinz beans. the seeds for the beans took 12 years to develop, _ heinz beans. the seeds for the beans took 12 years to develop, by - took 12 years to develop, by scientists at the university of warwick. they aim to make them exactly the same as what shoppers expect. we exactly the same as what shoppers exect. ~ ., exactly the same as what shoppers exect. ~ . ., , exactly the same as what shoppers exect.~ . ., , , exactly the same as what shoppers exect. . . . , ., exactly the same as what shoppers exect. . . . , , ., ., expect. we are always trying to grow new thin . s expect. we are always trying to grow new things and _ expect. we are always trying to grow new things and trying _ expect. we are always trying to grow new things and trying to _ expect. we are always trying to grow new things and trying to do - expect. we are always trying to grow new things and trying to do things i new things and trying to do things to save on food mileage and on imports because we are importing too much food and to be able to produce something we consume in such great quantities in this country, it is just unbelievable. it quantities in this country, it is just unbelievable.— quantities in this country, it is just unbelievable. it could take ears to just unbelievable. it could take years to replace _ just unbelievable. it could take years to replace the _ just unbelievable. it could take years to replace the entire - just unbelievable. it could take i years to replace the entire supply chain from canada and china but today marks the start of a journey today marks the start of a journey to self—sufficiency. hello from the bbc sport centre.

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