China, Sheila Wonderland, Chan discussed on Marketplace Morning Report with David Brancaccio
This marketplace podcast is brought to you by four x dot com committed to empowering and helping traders seize opportunities and the foreign exchange markets learn more at four x dot com for x dot com. It's your world trade it for trading involves significant risk of loss the days of lugging heavy textbooks across college campuses. Maybe coming to an end live from London. This is the marketplace morning report from the B._B._C.. World Service. I Victoria Craig in for anew on Good Morning. I O Brussels where the woman hoping to be the next leader. The European Commission is making her final pitch to skeptical parliamentarians the B._B._C. Stooping Chan has more oh Sheila Wonderland faced tough crowd at the European Parliament today with many angry that the candidates they put forward for consideration were rejected by e you leaders leaders Germany's defense minister who didn't even know she was in the running for the East top job until halfway through a fifty our Brussel summit. This month needs parliament's backing to move forward so today she laid out a plan of compromise including ambitious policies policies to make the E._U.. carbon-neutral by twenty fifty I will put forward a green deal for Europe in my first one hundred days in office. That's not the only Kara on offer to try to win left wing liberal votes. She's promised to push for minimum minimum wage and move protections for fugees but those policies may cost her votes among eurosceptic and right wing parties her support for further brexit extension beyond the October deadline also received a mixed reception I stand ready for. For further extension of the withdrawal date short more time be required for good reason the secret ballot will take place later today if Mrs Wonderland is rejected the E._U.. Face a new you period of deep political uncertainty on the B._B._C. Swooping Chan for marketplace. Let's do the numbers Indian airline shares are on the rise. After Pakistan reopened airspace to civilian flights. The nearly five month closure which forced airlines to reroute route planes is said to have cost airlines tens of millions of dollars. My parents used to endlessly complain about the toll heavy textbooks were taking on my back when I carry them in my backpack well back to school. Season is just on the horizon and English book publisher. Pearson Persson has a potential back saving announcement it will print only about one hundred new editions of its fifteen hundred college level books in the U._S.. Company boss John Fallon says the business is at a tipping point with half its revenues coming from digital sales this time now how to flip the switch and how we primarily make create our products so the three revisions cycle of new physical textbooks which dominated the industry for forty years these dad furrows everything will now be revised is anticipated a digital. I way that means you scientific breakthrough in biology you case study and business new development will history contemporary politics. We're not wasting three years for the next physical edition we can agitate traits and you contents also assessment for the next semester with more content online will the risk of digital theft increase. We have some already have over ten million digital registrations per year. Each of those students has a direct relationship with piss. They are submitting their homework. Online on machines are mocking not homework and providing feedback to them so think of this is much more as when adobe we'll be went from selling a license to selling a subscription and a service it actually enhances the engagement the direct relationship with this and actually makes things like piracy and counterfeit more difficult than bus John Felon Elon. Their China is the world's biggest official creditor but new research shows that half of its lending to developing countries is hidden Christopher Trobisch is a professor of macroeconomics at Kiel Institute for the world economy. He's also the CO author of a working paper called China's overseas overseas lending we were interested in the standing the financial footprint of China and we realized however that it's very difficult to study lack of data so we sat down and gathered all available sources over over two years and try to trace those lending activities to developing countries as carefully as we could and we realized just how little others know about this lending as well so why is it hidden and how it is China you do it so you lend to a country like Zambian and then Zambia will report. It's dead stocks to the World Bank but given the specific way in which China Lens which is often by Chinese public corporations to corporation in developing countries. He's those kind of debts are not reported and picked up by these officials statistics. You say fifty biggest recipients have debt with China worth seventeen percent of their G._D._p.. On average what are the biggest flash points and could we see things turn south out there pods of these debts simply are not known to the wider public to financial market participants to rating agencies so that risk assessments cannot be done properly and they might be overlending we also in the paper draw parallels to China's lending boom and lending boom of the nine hundred seventy those lending flows in the seventies went to resource rich poor countries that were booming at the time just like they were booming and the two thousand two thousand tens and many of these flows where OPEC lending occurred at commercial rates and we are often backed by these resources we know how that the nineteen seventies boom ended in tears many of these countries and went into default and ten twenty thirty years to resolve these that that overhang problems what countries are more more vulnerable than others the things that I know exactly where the hidden parts are but we can't release this because the date has actually was given to us on a confidential basis Venezuela Zimbabwe Iran countries is that are already seeing crises. Are those the kind of countries that we should be thinking about. Yes we've found that with regard to the Bank of International Settlement reporting to vulnerable countries is particularly incomplete so Venezuela Zimbabwe we see large urge reporting gaps Kristof trash. They're finally what more appropriate way to celebrate the Fiftieth Anniversary of the first moon landing then with the latest news from NASA that it's going to grow chili peppers in space. The agency is looking for ways to sustain future astronauts on two.