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tv   Asia Business Report  BBC News  April 8, 2024 12:30am-12:46am BST

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overproduction of electric vehicles, solar panels and other clean energy products with premier li qiang. she says the huge subsidies china is providing to companies is giving them an unfair advantage over foreign firms. my colleague david waddell has more. soon after arriving she addressed and promised to addressed and promised to address the oversupply of chinese goods in key industries such as electric vehicles in solar panels. on sunday she meant the premier li qiang and struck a tone. we meant the premier li qiang and struck a tone.— struck a tone. we have put our bilateral relationship _ struck a tone. we have put our bilateral relationship are - struck a tone. we have put our bilateral relationship are more | bilateral relationship are more stable — bilateral relationship are more stable footing. this is not meant _ stable footing. this is not meant ignoring our differences or avoiding tough conversations. it has meant understanding that we can only make _ understanding that we can only make progress if we directly and openly communicate with one anothen _
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and openly communicate with one another. ., , ., . , ., , another. china news agency has accused the _ another. china news agency has accused the united _ another. china news agency has accused the united states - another. china news agency has accused the united states of. accused the united states of fabricating a china threat and criticise washington for erecting trade barriers. but premier li qiang seemed optimistic aboutjanet premier li qiang seemed optimistic about janet yellen visit. translation: i visit. translation: ., ., ., , translation: i have read all my re orts translation: i have read all my reports about— translation: i have read all my reports about your _ translation: i have read all my reports about your visit _ translation: i have read all my reports about your visit and - reports about your visit and from the moment you touch down, chinese citizens have been enthusiastic and continuously commenting. in fact, this reflects the expectations for the outcome of your visit. china remains angry at us sanctions on its axis to advance semiconductor is saying it is designed to suppress its technological infant development and also concerned of us moves to force bite dense to divest its popular tiktok out. in part us is concerned about taiwan in the south china sea seem taiwan as an inherent part of its own territory and ownership of the undisputed assignments in the south china sea. we are witnessing
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something of a repression or everything could change if president trump returns to the white house. stephen olson, a former us trade negotiator, said the us and china will continue to be challenged by fundamental differences. i think talking is always better than not talking so for that reason alone, things are positive. but in myjudgment at least, i don't expect anything to come out of the discussions at will significantly move the needle on the overall bilateral relationship. china will continue to believe correctly or incorrectly that the united states is determined to block its quote on quote, peaceful rise and the united states will continue to believe, correctly or incorrectly, that china engages in a host of predatory economic and trade policies which threaten the rules —based global system. those were the perceptions that were entrenched before the meeting
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started. when janet yellen gets on the plane flies back to austin, i'm afraid those perceptions will remain entrenched.— perceptions will remain entrenched. ,, ., , entrenched. she was actually in china last _ entrenched. she was actually in china last year, _ entrenched. she was actually in china last year, janet _ entrenched. she was actually in china last year, janet yellen, i china last year, janet yellen, things change since? i china last year, janet yellen, things change since?- things change since? i think both countries _ things change since? i think both countries have - things change since? i think both countries have an - things change since? i think i both countries have an interest at this point trying to improve the mood music, if you will comments with lisa segments of the rest of the world that they are stabilising the relationship, that the relationship, that the relationship has been managed well and i think you see that coming through clearly in the messaging. i have seen secretaryjanet messaging. i have seen secretary janet yellen on a couple of different occasions saying, luck, work remains to be done, but we have really put the relationship on a more stable footing. i think she is acknowledging that she is not expecting any real breakthroughs in this round of meetings, but she does want to emphasise to the outside world of the relationship is being stabilised. i think that is important for both countries
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and china, of course is trying to signal to the international business community that china should remain at the top of their list as a business investment destination. if their list as a business investment destination. if the diplomatic — investment destination. if the diplomatic trip _ investment destination. if the diplomatic trip i _ investment destination. if the diplomatic trip i want - investment destination. if the diplomatic trip i want your - diplomatic trip i want your thoughts on is the japan prime minister fumio kishida visiting the us, what are your expectations there? i the us, what are your expectations there? i think biden and _ expectations there? i think biden and his _ expectations there? i think biden and his japanese - biden and his japanese counterpart are going to give each other a very big bear hug and very warmly embrace each other. i think they are going to stress the importance of both the economic relationship as well as the security relationship and if at all possible try to move this relationship even more close together. of course they hundred pound gorilla that will be sitting in the room during this discussions will be noppon the seal —— nippon six deal and
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us steel, i do not think biden has the political maneuverability to change his stance on that issue is something leaders will to carefully manage. an official investigation is under way in the us after the engine cover of a boeing 737 800 aircraft dislodged on sunday during take off in denver, striking its wing flap. the southwest airlines flight, which was headed to houston, returned safely to denver international airport. southwest airlines says its maintenance teams are reviewing the aircraft after the incident. plane—maker boeing, which has been in the spotlight in recent times over manufacturing and safety concerns, declined to comment. let's take a look at what is coming up on the economic calendar. a lot of focus will be on the united states on wednesday as key inflation data is released for the month of march. prices picked up in february and that makes the case for an interest rate cut this year a bit tricker for the federal reserve. economic data from china will be closely watched as well to see if things are turning around for the economy. on thursday it's inflation figures for march. then on friday, trade data.
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this is going to be key to help us understand why manufacturing activity has expanded for the first time in six months. we spoke with economist priyanka kishore from research company asia decoded. she said a lot of focus will be on the us. i she said a lot of focus will be on the us-— on the us. i expect headline inflation in _ on the us. i expect headline inflation in the _ on the us. i expect headline inflation in the us _ on the us. i expect headline inflation in the us will- on the us. i expect headlinel inflation in the us will appear to diversity of seen rising energy crisis that means month on month inflation will remain elevated and at ed headline level. on a worldwide basis you could see the headline inched up could see the headline inched up again to around 3.2% from three point 2% last month. on the other hand it will be supported declining inflation will be supported by slowing shelter inflation and decline in used prices. that actually keeps in place the support class from fed even if you know headline inflation remains around 3% over the rest of the
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year,. however given the strength of the us level market supply chain disruptions, there is no urgency for the fed to cut at this point in time. i think the fed possible extended to the second half this year. the fashion industry is the second largest industrial polluter, accounting for 10 percent of global pollution, ranking higher than emissions from air travel. but oliver spencer wants to change this. the british menswear designer is hoping to usher in a cultural shift from fast fashion to slow fashion. and he's urging otherfashion brands to follow suit. we are trying to encourage your customers to bring their close back to us when they are finished and we will decide what the afterlife process is for that piece of clothing. the idea was to tell our customer,
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if you finish with something, do you mind or something you don't wear much, or it might be threadbare and you have worn it to absolute death, because we use a lot of very pure fabrics, we can offer many different types of and use for the clothing. so we are encouraging and educating, trying to educate our customers that this is a good idea. educate our customers that this is a good idea-— is a good idea. what will encourage _ is a good idea. what will encourage them - is a good idea. what will encourage them to - is a good idea. what will| encourage them to make is a good idea. what will - encourage them to make that move because physically coming to hand things back in or making the effort to post things back, what is the encouragement?- things back, what is the encouragement? first and foremost _ encouragement? first and foremost they _ encouragement? first and foremost they are - encouragement? first and foremost they are being . foremost they are being responsible. so that in itself is going to be part, i hope it will be part of their everyday habits as far as clothing is concerned. secondly we will be offering them a discount on their next purchase. the fashion _ their next purchase. the fashion industry - their next purchase. the fashion industry is - their next purchase. the fashion industry is a - their next purchase. the fashion industry is a huge
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polluter and many organisations within it big and small such as yourselves are extremely aware of that and trying to take action. to what extent do you think you can in fact the narrative on that? hoping to im act narrative on that? hoping to impact the _ narrative on that? hoping to impact the narrative - narrative on that? hoping to impact the narrative in - narrative on that? hoping to impact the narrative in a - impact the narrative in a fairly native way, i deftly want to talk to especially online businesses that are sending out perhaps six or seven dresses to somebody and the customer is only taking one and then the dresses are not returned to the company, they are directly into landfill. so two things here, one thing is you need to say to the high street, simply that is wrong. secondly, you need to educate the customer. otherwise, a lot of these businesses are finding it too expensive to recycle that unwanted product. menswear
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desiuners that unwanted product. menswear designers speaking _ that unwanted product. menswear designers speaking to _ that unwanted product. menswear designers speaking to my - designers speaking to my colleague. the fashion industry, the second largest industrial polluter accounting for 10% of global position and ranks higher than aviation pollution as well. and that's it for this edition of asia business report. thanks for watching.
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hello and welcome to sportsday. old rivals manchester united and liverpool draw in the premier league to keep liverpool second in the table. it's also all square in the old firm — as celtic retain their edge over rangers in the scottish premiership. and we're at west ham's training ground as the club
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hold an iftar event for the local community in ramadan. we're starting with the premier league where liverpool missed out on going top again — held to a 2—2 draw by their old rivals manchester united at old trafford. it means liverpool stay second in the table behind leaders arsenal on goal difference. our football correspondent john murray reports. liverpool will be wondering how they did not win this match having led through a lewis diaz goal and being so dominant. yet in fact they needed a late mo salah penalty to salvage a point which means this exciting premier league race has tightened up.
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manchester united came out and proceeded to turn the game around. bruno fernandes equalised from the centre circle and united went in front with a curling finish from the 18—year—old with his first goal at old trafford. liverpool level and will hope events don't ultimately cost them. i'm ok with it. i know that in a lot of moments, we could have turned or pushed this game in our direction. being at half time 1—0 up and i5 nil in shott is a crazy away game, to be honest. we cannot talk about things we didn't do right. we can improve and be calmer in moments. that is what we will work on. as far as i know, we have a point more than before the game. we are still in that race, so it is fine. very mixed emotions. on one side, i'm very disappointed to drop seven points in one week
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when you are in winning positions, and we have to blame ourselves for making stupid mistakes. we have to learn from it. on the other side, i'm very proud. you see how we are improving, and the potential for the squad and this team is amazing. i'm very proud today as well. tottenham hotspur climbed into the top four with a home win against nottingham forest. this game was 1—1 at half—time but a second—half thunderbolt from micky van de ven restored spur�*s lead and pedro porro made it 3—1. the result improves spurs' hopes of champions league football next season, while only goal difference is keeping forest out of the relegation zone. it doesn't stop, you just keep going and as you have said, there is still some really meaningful, tough games to come. every game is a tough
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game. we knew forest with scrap

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