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BBCNEWS Asia July 5, 2024

this is the first time a us treasury secretary has visited china since the covid pandemic and this is the environment they find themselves in. for example, trade restrictions. one point of contention is over rare earth metals, essential components to make semiconductor those which are used in everything from smart phones to military equipment. earlier this week beijing said it will require a special license to obtain two metals predominantly mined in china stopping this move has seen a retaliation against export bands put in place by the united states of critical technology needed for artificial intelligence and quantum computing. both sides argue that these bands are neededin argue that these bands are needed in the interest of national security. another issueis national security. another issue is the weakening yuan. china s currency has lost nearly 5% of its value against the us dollar over the past year which makes chinese exports more competitive on the global marke ....

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BBCNEWS Asia Business Report June 4, 2024 00:32:00

Beating s handling of its currency however china says the reason it is so low is because of the us federal reserve raising interest rates. janet yellen says she will bring up china s role in meaningful debt relief for countries facing problems. in the past she is noted that delays are restructuring these debts as both ad for the borrowers as well as the creditors. what these two countries do have in common is they face headwinds from a slowing global economy. going into these discussions, expectations are rather low that any big announcements will be made coming out of this trip but what janet yellen has said as she hopes to re establish communication with her chinese counterparts to have a more substantial discussion moving forward. monica miller reporting there and earlier a spoke to a harvard economic professor who explained what we can expect. i professor who explained what we can “pect can expect. i think she really wants as can expect. i think she really wants as she can e ....

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BBCNEWS BBC News June 4, 2024 00:04:00

Invested heavily there, the semiconductor industry is crucial, as we have been able to see with supply chain disruptions, and on a trade front, a lot of the war is taking place with who gets these ai chips that we are seeing developed at rapid pace, so that is one area for example that has actually caused a tremendous amount of tension with tariffs and sanctions as such. but the region here is completely on edge. if you are in the us and china, you are vulnerable trade wise as to what happens between these two superpowers so really the whole world here is watching what happens. world here is watching what ha ens. a, world here is watching what hauens. ~ happens. monica miller reporting happens. monica miller reporting from - happens. monica miller reporting from the - happens. monica miller - reporting from the shangri-la reporting from the shangri la summit in singapore. great to talk to you. thank you. let s turn to india, where rescue efforts have now ended, after the county s wor ....

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