Business Weekly
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 27 March 2021
⏱️ 50 minutes
🧾️ Download transcript
Summary
As a giant container ship gets stuck in the Suez canal, we examine at the vital role the waterway plays in global shipping. We also hear from Chicago, where reparations are being made to black residents after years of segregation. African Americans have lost thousands in personal wealth due to the policy of redlining. Our chief environment correspondent investigates a leaked letter from China - suggesting it's preparing to embark on greener policies. And we’ll be talking space junk with astrophysicist Becky Smethurst.
Business Weekly is presented by Lucy Burton and produced by Szu Ping Chan.
Transcript
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| 0:00.0 | Hello and welcome to Business Weekly with Lucy Burton. |
| 0:08.4 | We've got a jam-packed program today. |
| 0:11.5 | We're going to be looking at a leaked letter from China, |
| 0:14.7 | which suggests not some sort of nefarious wrongdoing, |
| 0:18.1 | but that Beijing is secretly cutting its carbon footprint abroad. We'll be |
| 0:22.6 | finding out what kind of threat food delivery apps are to the restaurant business, and we'll be |
| 0:27.6 | chatting to an astrophysicist about the danger posed by tiny bits of space junk. Let's kick things off, |
| 0:34.7 | though, by looking at the traffic jam in the Suez Canal. |
| 0:43.5 | On Tuesday, a cargo ship the size of four football pitches, got stuck at the lower end of the waterway, |
| 0:46.3 | which is the quickest shipping route between Europe and Asia. |
| 0:54.8 | The enormous ever-given found itself sideways and grounded, blocking one of the biggest shipping arteries on the planet. |
| 1:01.1 | And when an artery gets blocked, things start to go wrong, especially when it's the route used by 10% of global shipping. A backlog formed with over 100 ships waiting to use the channel, |
| 1:08.2 | putting global supply chains at risk. |
| 1:15.4 | Here's Peter Sand, chief shipping analyst at BIMCO, the industry's largest trade organization. |
| 1:18.6 | We have ships lining up, and this is not just container ships. |
| 1:23.4 | This is bulk carriers carrying grain cargoes as well. |
| 1:24.5 | This is crude oil. |
| 1:28.9 | This is oil product carrying gasoline and diesel to feed our cars. |
| 1:35.2 | So obviously this cuts across the sector and it may in the end impact you and I. |
| 1:42.2 | Well, Sal McCogliano is an expert in maritime history at Campbell University in North Carolina and a former merchant mariner. |
| 1:45.6 | He told me what it's like to navigate a ship down the canal. It is a very long day. It starts early in the morning, usually around 4 o'clock, and you embark |
| 1:52.3 | the pilots on board, usually a pair of pilots. There's usually two Egyptian pilots that are brought |
... |
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