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tv   Asia Business Report  BBC News  November 6, 2023 2:30am-2:46am GMT

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are a boost for the industry. hi there. welcome to asia business report. constructive economic engagement — that is what australia's prime minister anthony albanese has pledged in shanghai on his four—day visit to china. the two countries which share significant trade are seeking to thaw icy relations several years of tension over trade and technology. there seems to be a breakthrough in some spots. here is what the australian leader had to say. the government that i lead will continue to work constructively with china. as the business people in this room understand so well, it is in all our interests to have a relationship where there is dialogue and cooperation. later today he will be meeting president xijinping and the premier.
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michael clarke is an expert on australia—china relations from the university of technology sydney and i asked him what prime minister albanese�*s priorities are in china. the key goal certainly on this visit and in the near term is what has been termed stabilisation of the bilateral relationship, so what this means in practice i think is, from the australian perspective, is achieving some short—term wins in a way, so further winding back on a number of the efforts of trade coercion and economic coercion that china imposed around three years ago on australia on a range of australian commodities. so that is kind of the short—term goal for the prime minister. how much of an impact did those trade tarrifs have on australian economy and businesses? the majority of the trade tariffs really targeted what you might term discretionary items within the bilateral relationship. you know, live lobster exports,
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the — some australian wine industry as well — and obviously the big areas of bilateral trade weren't hit, so, of course, australia's large natural resource exports to china, iron ore and coal in particular. so, the australian economy did reasonably well in terms of absorbing some of those efforts of coercion. now, obviously individual industries that were targeted suffered considerably, yet one of the outcomes of china's attempted coercion has been a concerted effort i think by a range of australian businesses to diversify away from the chinese market as a means of mitigating the risk of this kind of development moving forward. in other news, here in singapore, the countries long serving prime minister said he will step down as the leader
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of the ruling people's action party before the next general election which is due before november 2025. they have led the country since it gained independence in 1965 and its original leader, the current prime minister's father, is widely credited as establishing modern singapore, seeing it become a prominent asian financial hub. pm lee confirmed the deputy pm will be a new sworn in leader. schools across india will remain closed for a few days as delhi is smothered by a grey, polluting smog. secondary schools have the option of shifting to online classes. delhi's air quality index has been at severe for days with no sign of improvement.
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industry traffic and double burning by farmers in neighbouring states makes delhi one of the most polluted cities in the world. the union representing thousands of hollywood actors says it has received a new offer from studios to try to end the strike which started back injuly. actors are seeking assurances that the ai digital likenesses will not be used without their permission. the production companies described this as their last, best and final offer. the union said it was reviewing the proposal. the strikes are thought to have cost the californian economy at least $6 billion. this week, the co—working giant wework is expected to file for bankruptcy according to reports as it struggles with massive debt and hefty losses. it has raised questions about the future of working spaces and indeed whether workers will be returning to the office or continuing with remote working. the company's industry peer, iwg, says that despite wework�*s troubles it is a robust time
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for the industry as more companies turn to the hybrid working model to save costs. let's hear more from mark dixon. the impact has been very significant. companies have seen savings of up to 50% in the cost of supporting workers and that in what is a difficult economy at the moment is a really significant saving. so, where does that cost could come from, in your view? is it because they managed to maybe reduce their office space? overall, the savings come through companies reducing space, and you can see many large corporations reducing their fixed space by at least 50% and them supporting their workers on a flexible platform such as ours where we have 3500 buildings globally that can be used at any time, and these buildings increasingly are close to where you might live. what about the impact on productivity, though? because here in asia a lot of companies have their workers back in their office, and some of the managers may argue that having people working at home may not result in the best
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productivity, given they could actually get disturbed by other things at home. very few people can work from home productively for the very reasons that you say — interruptions and a lack of discipline that can come up from people working from home. but what we are seeing is companies and people deciding to work close to where they live. so, they are going to an office building — what do they want? they want a social environment. they want to meet other people. they actually want to leave home and go and work somewhere else. it is just that the working somewhere else is not an hour away, half—an—hour away. it's ten minutes away, and that is really the difference — is the convenience of work that workers are looking for and that allows companies to reduce their costs, and overall productivity actually goes up.
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it doesn't go down. but managers have to manage properly. i think it's wrong to say that just because you have people in a building, somehow they are efficient. that is not the case. the pandemic has also affected children and their education. it has meant that two—thirds of the world's poorest countries ended up cutting their public education budget which resulted in millions of children and young having little or no access to any forms of schooling. sally mandock spoke to the executive director of education for all foundation about what needs to be done. from covid on, investments in education have gone down generally across the globe. the only place where it has picked up again is actually in the lowest income countries, so what we now face is something like a $97 billion—a—yearfunding gap for education across the globe. and in the low—income countries, you say that
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the funding has started to come through again. why is that? i think in general as the poorer countries have looked at where they are in the overall economic picture globally, they realise how far behind they are, how far they have to go, and there is plenty of data that shows that investing in education makes a huge difference to where you are, notjust as an individual or a family, but as a nation. when you are trying to convince partners of the benefit of education, do you often use the economic argument? is it part of that? i think less and less we need to do that because in terms of the partners what we do know is that increasingly parents understand the value of education and we do know that some of the highest price on a per—capita basis, paid education is paid by some of the poorest people in a relational way,
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so, that doesn't seem to be the issue. i think the issue is more along the lines of encouraging governments to understand that the long—term investment in education is about the future. and that is a really difficult sell because politicians are worried about the next two or three years, or even perhaps the next two or three months, and the investments in education need to be long—term. and before we go, let's take a look at what we will be watching this week because on the economics calendar there is data due from south east asia. later today indonesia will release growth figures for the third quarter. household spending contributed to growth in the second quarter. and on tuesday china will release trade data and analysts will be paying particular attention to exports figures for any hint of post
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pandemic demand recovery. that is the dame day australia's central bank will be meeting to decide on the cost of borrowing. there are expectations the reserve bank of australia may hike rates to cool inflation after keeping them on hold in the past four meetings. then rounding off the week — we will get the growth picture from the third quarter for the philippines. that is it for this edition of asia business report. i will be back next hour so dojoin me if you can but for now thank you so much for watching. bbc news, bringing you different stories from across the uk. clocking up the training kilometres on a cornwall�*s north coast, this mum is about to take on the latest ultra running challenge. tn; to take on the latest ultra running challenge. try and find as many hills _ running challenge. try and find as many hills as _ running challenge. try and find as many hills as i _ running challenge. try and find as many hills as i can, - running challenge. try and find as many hills as i can, as- running challenge. try and findj as many hills as i can, as much varied terrain as i can and i find the most beautiful places in cornwall to run.—
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in cornwall to run. julia is from a — in cornwall to run. julia is from a family _ in cornwall to run. julia is from a family of- in cornwall to run. julia is from a family of runners l in cornwall to run. julia is i from a family of runners but in cornwall to run. julia is - from a family of runners but it is only when she started fundraising for a hospice that cared for her grandad that she got the bug. i{hi cared for her grandad that she got the bug-— got the bug. chi tran for my first marathon _ got the bug. chi tran for my first marathon and - got the bug. chi tran for my first marathon and realisedl got the bug. chi tran for myj first marathon and realised i loved it and i like running long so it is about five years ago i entered my first trail race, my first ultra, and from there it has just grown and grown and i love to see what you think i can do.— you think i can do. believe it or not 80 — you think i can do. believe it or not 80 to _ you think i can do. believe it or not so to 100 _ you think i can do. believe it or not 80 to 100 kilometres | you think i can do. believe it i or not 80 to 100 kilometres is her ideal distance. she represented great britain at the world championships in austria in the summer. 50. the world championships in austria in the summer. so, 6500 metres of— austria in the summer. so, 6500 metres of climbing _ austria in the summer. so, 6500 metres of climbing and _ austria in the summer. so, 6500 metres of climbing and some - metres of climbing and some amazingly beautiful mountains. it was so hard, i think the hardest race i have ever done, but it was for me the best — the best feeling to finish because not only was i in the great britain events but my son was at the finish at my mum and dad came at my sister was there as well, having race the day before. it was just magic.
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bbc news, bringing you different stories from across the uk. , .,, different stories from across the uk. , g, the uk. every day, frontline policing- — the uk. every day, frontline policing. officers _ the uk. every day, frontline policing. officers in - the uk. every day, frontline policing. officers in a - the uk. every day, frontline policing. officers in a peter| policing. officers in a peter assaulted, racially abused and spat out. assaulted, racially abused and sat out. , ,., assaulted, racially abused and sat out. , _, . spat out. this is an incident where a _ spat out. this is an incident where a gentleman - spat out. this is an incident where a gentleman had - spat out. this is an incident where a gentleman had a l where a gentleman had a screwdriver in his hand. we believe he posed a risk to us at the time. pf:
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believe he posed a risk to us at the time.— believe he posed a risk to us at the time. pc zachary rolfe had only been _ at the time. pc zachary rolfe had only been in _ at the time. pc zachary rolfe had only been in the - at the time. pc zachary rolfe had only been in the job - at the time. pc zachary rolfe had only been in the job two | had only been in the job two weeks when he was racially abused. �* , , , . abused. being pushed, punched and even kicked. _ abused. being pushed, punched and even kicked. it _ abused. being pushed, punched and even kicked. it has - abused. being pushed, punched and even kicked. it has an - and even kicked. it has an effect on your mental health and you seem to think about it 24/7. it and you seem to think about it 21w. it does not leave your head. 24/7. it does not leave your head. �* ., ., , 24”. it does not leave your head. �* ., ., , ., head. another team is called to a suspected _ head. another team is called to a suspected driving _ head. another team is called to a suspected driving and - head. another team is called to a suspected driving and drug i a suspected driving and drug offence where searching suspects can be a flashpoint. i have been punched, i have been kicked and spat out, bit into the point where it gone through my skin. i have been stabbed in the lake with a pair of scissors and i think it is only getting worse to be fair. itheiith getting worse to be fair. with attacks on — getting worse to be fair. with attacks on officers _ getting worse to be fair. with attacks on officers on - getting worse to be fair. with attacks on officers on the - attacks on officers on the rise, could senior police do more? , ., rise, could senior police do more? , . _, ., ., more? they are encouraged to re ort more? they are encouraged to report these — more? they are encouraged to report these assaults. - more? they are encouraged to report these assaults. the - more? they are encouraged to | report these assaults. the onus is on _ report these assaults. the onus is on the — report these assaults. the onus is on the supervisor to make sure — is on the supervisor to make sure they— is on the supervisor to make sure they do that. it is on the supervisor to make sure they do that.— sure they do that. it shows officers can _ sure they do that. it shows officers can face _ sure they do that. it shows| officers can face challenges anytime of the day, any day of the week. anytime of the day, any day of the week-— anytime of the day, any day of the week. ., ., , ., , ., the week. for more stories from across the _ the week. for more stories from across the uk, _ the week. for more stories from across the uk, head _ the week. for more stories from across the uk, head to - the week. for more stories from across the uk, head to the - the week. for more stories from across the uk, head to the bbc. across the uk, head to the bbc news website.
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hello. i'm 0lly foster and these are your sportsday headlines. it's a virat happy birthday — kohli hits another world cup century as india wins again. there's a crucial goal and an even more important message from liverpool's luis diaz. and novak djokovic keeps the unbeaten run going as he wins the masters in paris for a seventh time. well then, welcome along to sportsday. can anyone beat india at the cricket world cup? there was another statement win
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from the hosts, today, as they thrashed south africa, the teams closest to them on the table. virat kohli on his 35th birthday equalled the record for most one—day international centuries. his 49th 0di ton, matching the great sachin tendulkar. he was unbeaten on 101 in their score of 326—5. his individual score would have been enough by itself to win the match. south africa's chase started very, very poorly. the tournament's top scorer, quinton de kock, departing forjust five. the wickets continued to tumble in kolkata. ravindra jadeja took five of them, just days after bowling sri lanka out for 55, they knocked south africa over forjust 83. both teams have already qualified for the semifinals but india maintained that 100% record, eight out of eight and they are guaranteed to finish top of the table. in the lead up to the game, as well as just before the game, i didn't have a sense of the guys
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being overawed or nervous by the situation.

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