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In other products like coal and timber but not all restrictions have been lifted. Some still remain on items like lobster and wine. Earlier, i spoke to clive russell, an economist who explains what has changed. I explains what has changed. 1 think the major change was first a political one, australia had an election last year and the Centre Left Labour government was elected replacing the more right wing liberal National Coalition government which allowed a resumption of relations between beijing and canberra which had been rocky. It was also a Creeping Realisation that there hadnt been any benefit to either party from the trade action that china took, certainly of cost china a lot of money to, to buy. Barley from other places, and coal as well, and it wasnt really a win for them and didnt really hurt austr ....
But in not all restrictions have been restricted. Some remain on items like lobster and wine. I spoke to clive russell, who explains whats changed between beijing and the changed between beiing and the centreleft changed between beijing and lie centreleft Labour Government was replacing the right wing government. That allowed a reset of relations between beijing and camera, which had been rocky. There had not been benefit for other party from the action china took. It cost china a lot of money, so it wasnt really a win for them and it didnt hurt australia as far as australias miners were able to find alternate markets and didnt suffer that much at all. ~. ,. ,. , all. Whether or not any businesses all. Whether or not any businesses that all. Whether or not any businesses that have i all. Whether or not any. Businesses that have been affected because of this tariff as beijing had hoped . It affected because of this tariff as bei ....
us regulators have opened an investigation into openai, the microsoft backed startup behind chatgpt. the federal trade commission says it s looking into whether the ai chatbot could put consumers reputations and privacy at risk by publishing false information about them. open al s ceo sam altman says they will work with the ftc, saying, we protect user privacy and design our systems to learn about the world, not private individuals . michelle fleury in new york has more. the artificial intelligence company openai is facing a probe by us regulators. the federal trade commission, or ftc, sent a letter to the microsoft backed company asking for more information about its privacy and data security practices. the agency also wants to know if the ai tool harmed people by generating false information about them. since its launch, there has been a lot of noise about openai. this is the service that generates convincing human like responses to user queries and is expected to dr ....
and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point. that is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored aro ....
a semiconductor superpower. our asia business reporter monica miller has more. it is a major setback. prime minister narendra modi has made chip making a top priority for india s economic strategy in pursuit of what they say is a new era of electronics making. it doesn t get much bigger than foxconn, which makes roughly 70% of apple s iphones. india estimates that its semiconductor market could be worth $63 billion by 2026. now, we need to go back a little bit to explain how this partnership happened. that was in september 2020 to the taiwanese firm and the indian mining giant agreed to this deal. and part of it was because foxconn was looking at the situation then, which had strict covid restrictions in china, where a lot of these phones are made. they are also concerned about the geopolitical tensions we ve mentioned many times on this programme between the us and china. so it was looking to partner up, which is with the country which is now the largest in the world. ....