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tv   Asia Business Report  BBC News  April 18, 2023 1:30am-1:45am BST

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the world and across the uk, you are watching bbc news. beijing is set to release the first set of indicators of china's post covid economy, we will have analysis. plus political tensions rise again in the us as republicans criticise president biden over the us debt ceiling. hello and welcome to asia business report, i'm a one. markets in asia are awaiting in anticipation for economic data out of china today because in just under two hours beijing will release its quarterly gdp figures amongst a host of other key data. the quarterly figures
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will be the first since beijing scrapped its zero covid restrictions late last year. the chief economist at hang seng bank china told us she is expecting to see an economic rebound that could fade in subsequent quarters. in rebound that could fade in subsequent quarters. in terms of gdp growth — subsequent quarters. in terms of gdp growth for _ subsequent quarters. in terms of gdp growth for the - subsequent quarters. in terms of gdp growth for the first - of gdp growth for the first quarter it is very likely to exceed expectations because the trade data was just exceptional, so now we are anticipating a growth rate of about 4.5% and in terms of infrastructure, housing, consumption, all those figures will improve significantly in the first quarter as well. there might be some downside risks but it will mostly show up risks but it will mostly show up in the coming months. in the first quarter data probably is just right spots. it’s first quarter data probably is just right spots.— just right spots. it's the first set _ just right spots. it's the first set of _ just right spots. it's the first set of numbers - just right spots. it's the first set of numbers we | just right spots. it's the . first set of numbers we are getting in the post— pandemic restriction error. we are really going to get a sense of how china has recovered but can it sustain that economic growth
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going forward?— going forward? there is certainly _ going forward? there is certainly some - going forward? there is i certainly some discrepancy between the macro figures and the perceptions of the general public. maybe there is a delay in a spillover between actual economic expansion and income growth but what is more likely to happen in the coming months is that people might get over the initial high after the reopening and the manufacturing demands might decline, which can also in export because the global economy is slowing down rather than speeding up and for the domestic consumption, it is certainly taking up but a more worrying sign is that income growth in the first tier and second—tier cities have slowed down so significantly that people might constrain their consumption even further. so i would say we are off to a great start, every month is performing better than the previous month at the headwind
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is still strong.— is still strong. meanwhile, shares in _ is still strong. meanwhile, shares in google's - is still strong. meanwhile, shares in google's parent| shares in google's parent company alphabet have ended the session lower following reports that the smart phone maker samsung is considering switching the default search engine to being. we can get more with katie silver, great to get you on the show. this is pretty bad news for google, right? it pretty bad news for google, rirht? , ., pretty bad news for google, rirht? , . ., , right? it is and that is if it comes to _ right? it is and that is if it comes to pass. _ right? it is and that is if it comes to pass. at - right? it is and that is if it comes to pass. at the - right? it is and that is if it - comes to pass. at the moment it is based on an article in the new york times but has been bad for google shares, we saw them on the day trading, they were done about 1r%, finished down about 2.5% but that is a drop and market valuation in the order of $50 billion and it is a big comparison to microsoft that had a i% a big comparison to microsoft that had a 1% rise in its shout. at the back of this new york times report that says samsung electronics is considering switching the default search engine on its devices from google to bing and
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we must say as well that google makes a huge amount of money by being the default search engine. it pays apple and samsung about $23 billion for the privilege and it makes many more billion dollars on top of that. google has been the dominant player when it comes to search for decades, it accounts for about 80% of the search engine market, makes about $160 billion and one of its smaller rivals has been bing which for a long time really hasn't made any waves but earlier this year we heard that microsoft was going to be ploughing billions of dollars into chat gpt and that that was going to vastly improve the quality of bing. the question now is does google have the time in the money to catch up or has it perhaps missed the boat with white thanks for your thought. in the us political and economic tensions are growing again, this time with the us house of representatives kevin mccarthy criticising president biden for what he
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called reckless spending in a speech at the new york stock exchange. that debt limit of $31 trillion was reached earlier this year prompting the introduction of special temporary measures to allow it to continue borrowing but these are due to expire injune. i spoke to the head of public policy at pimco and she explained the implications in the immediate term. the implications of a debt ceiling breach would be catastrophic. we have never seen that though, before, so it is a bit anyone's gas. the federal reserve and some other macro policy folks have sort of estimated what the impact would be including potential large drawdown of the s&p 500, a 30% drawdown according to the federal reserve in a study that they did in 2013 and of course an increase in interest rates but this is all hypothetical. we have not actually seen a breach of the debt ceiling. i think really importantly, we don't think we will see a breach of
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the debt ceiling. there is no political incentive to actually take the debt ceiling over the deadline and we think that there will be a resolution, albeit probably not until the 11th hour like we have seen with. ~ ., ., , ., with. we have not seen a breach. _ with. we have not seen a breach. as _ with. we have not seen a breach, as you _ with. we have not seen a breach, as you point - with. we have not seen a breach, as you point out| breach, as you point out obviously but these sorts of discussions are becoming so much more commonplace, aren't they? particularly with the divisiveness between the two sides, the two political parties. how troubling is that or how much of an impact is that have on the economy? i that have on the economy? 1 think you are right, that the debt ceiling has been used increasingly as a source of leverage, particularly for the party that is out of the white house and controls at least one chamber of the us congress. republicans have used this as leverage to try to get concessions for the white house but so have democrats in the past as well so this is not just falling on one party here but as you point out given the increased polarisation, it has
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become increasingly a source of leverage, however i think in some ways because people have seen this movie before, to use an american expression, that folks really aren't taking it very seriously. you saw speaker mccarthy of course appear in new york at the new york stock exchange and the market didn't even really move, in fact it rallied a little bit so i think people will take this seriously, they will focus on this when we get closer to the x date and as you point out we don't know exactly what that date will be when congress really needs to raise that debt limit, it could be as early as june or as late as september but i do think the markets will start focusing on it when we get closer but as of now people are just sort of shaking this off because again, they have seen this movie before and they think they know how it ends. i think they know how it ends. i want to take you to india now because the state of rajasthan and its efforts to make healthcare a rate in india
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highlights the difficulties in pursuing healthcare reform in the country state legislators passed a law requiring all hospitals to provide emergency treatment to everyone, but that ran into stiff opposition from private doctors, forcing the local government to backtrack halfway. this man is suffering from throat cancer. it is a cruel disease, even more so if you are poor. he's been forced to sleep outside this hospital for the last 22 days. he can't afford a bed. translation: irate afford a bed. translation: we live 300 afford a bed. translation: - live 300 kilometres away. there is no hospitalfor live 300 kilometres away. there is no hospital for the street there are so we had to come here. we have no choice but to stay on the pavement because we can't afford $22 for the bed. what you see here is very much what you see in most public hospitals and india, big crowds and long lines of people waiting to be served. these
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hospitals get far many more patients than they have the capacity to handle. in a first, the state of rajasthan passed a right to health law last month making healthcare a legal entitlement and forcing all hospitals, state funded or private to provide free emergency care to anyone who walks through their doors. as of private hospitals went on strike, arguing the legislation wasn't clear on how it will reimburse private hospitals for treating port patient. the responsibility _ treating port patient. the responsibility is _ treating port patient. the responsibility is not - treating port patient. tie: responsibility is not on treating port patient. tue: responsibility is not on this noble profession. the responsibility goes to the politician!— responsibility goes to the olitician! ., ., �*, ,, ., politician! ra'asthan's state government— politician! rajasthan's state government eventually - politician! rajasthan's state i government eventually agreed politician! rajasthan's state - government eventually agreed to exclude most private medical facilities from this requirement. india's public health infrastructure suffers from chronic underinvestment. the ratio of dock is to patients is far below who
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prescribed standards and out—of—pocket spending on healthcare remains very high. according to the world health organization, medical bills push 55 million indians into poverty every year. and experts say the government cannot depend on private institutions to plug these gaps. the depend on private institutions to plug these gaps.- to plug these gaps. the right to plug these gaps. the right to health should _ to plug these gaps. the right to health should be - to plug these gaps. the right to health should be guiding l to plug these gaps. the right i to health should be guiding the principles for the state to provide the bulk of the care stop the i would argue that 3% of the gdp provision for healthcare, without which, it's not even a pipedream.- not even a pipedream. india s-ends not even a pipedream. india spends a — not even a pipedream. india spends a fraction _ not even a pipedream. india spends a fraction of - not even a pipedream. india spends a fraction of that - spends a fraction of that currently. legislation alone won't help unless it is hand in hand with more public spending to make healthcare accessible to make healthcare accessible to millions in the world's most populous country. well, that brings us to the end of asia business report at this hour. is always there is a lot more
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on the bbc site, particularly on the bbc site, particularly on the bbc site, particularly on the business news page where you can find all the latest dates on our stories but for now, thanks for watching. to stay with bbc news. birkenhead park has always been at the heart of the community. from royal visit to rugby games. and today, it's in the running to be able unesco world heritage site. birkenhead park was the will�*s first publicly funded park. it opened its gates in 18117 and since then has become the blueprint for green spaces around the world, most famously for new york's central park and today the screen space welcomes around 2 million visitors every year. we do get visitors coming from all over the world because of its links with central park. we want people to come in on the cruise ships, come to the park and see what we've got here because i'm no central park is
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probably ten times bigger than this but we are special. we are a little oasis in the middle of a jungle, really. we used to come here when we were young, now we are not writers young. we got the kids and grandkids, they are all here in quite with the site shortlisted, there are 33 unesco sites in the uk, two in the north—west. and birkenhead park is hoping to join them on the prestigious list which recognises cultural, historical or scientific significant. hi there. i'm alice with the catch up. the uk prime minister rishi sunak says he wants all school pupils in england to study some maths until 18,
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although it won't be compulsory to take the subject at a level. he says an anti—maths mindset is holding back the economy. we are is holding back the economy. - are going to change the way our system works so that everyone in our country will study some form of maths all the way to 18. �* ., , ., form of maths all the way to 18.�* ., , 18. at least four people between _ 18. at least four people between ages - 18. at least four people between ages of- 18. at least four people between ages of 17 - 18. at least four people between ages of 17 and | 18. at least four people i between ages of 17 and 23 18. at least four people - between ages of 17 and 23 were killed at a teenager's birthday party in alabama at the weekend. a young american football star has been named as one of the terms. some other stories now. researchers have found air pollution causes harm to people at all stages that life. certain particles could lead to stunted growth. brecon beacons national park has
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announced that it will use its welsh language name only in the future. time now to leave you with ten seconds of shark. this man was having a nice relax outside his home when a black bear came a bit too close for comfort. you are all caught up now, have a good night. goodbye.
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hello, from the bbc sport centre. coming up on this programme: drama at the crucible with play suspended as a protestor interupts the world snooker championship. another heavy defeat for leeds who remain two points above the relegation zone as liverpool put six past them at elland road. and royal challengers bangalore fall short of the highest run—chase in indian premier league history as they're beaten by chennai super kings. play at the world snooker championship was suspended after a protester climbed onto one of the tables and covered it in orange powder. another protester tried to glue herself to a table.

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