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Money Talks from The Economist

Money Talks: Tik for Tok

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 11 August 2020

⏱️ 26 minutes

🧾️ Download transcript

Summary

Relations between America and China are at a fresh low. What do Donald Trump’s latest threats mean for Chinese businesses? Also, the coronavirus has had a disastrous effect on Saudi Aramco’s earnings. How can the state-controlled oil company weather the extreme conditions? And, the bumps ahead for America’s $800bn trucking industry. Rachana Shanbhogue hosts 



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Transcript

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0:00.0

This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats.

0:11.0

So you can order your own fries instead of eating everyone else's.

0:15.0

Trains, now on Uber. T's weekly podcast on the markets, the economy and the world of business.

0:36.7

I'm Rachna Shanbogue, the finance editor at The Economist,

0:40.0

and coming up on today's show, How is Saudi Aramco fairing in extreme conditions?

0:46.0

No one expected that their first year as a listed company would happen to be the most tumultuous year in the oil industry's history.

0:56.0

And America's $800 billion trucking industry faces hazards on the road ahead.

1:02.0

Before you used to get paid for the wheels turning.

1:05.0

Increasing you may get paid for more handling,

1:07.0

customer service and things like that.

1:09.0

So the job is really changing. But first, it's started with Huawei, now it's Tiktok and Wi-Chat. Relations between America and China have fallen to a fresh low as President Donald Trump issued executive orders aiming to ban the popular Chinese apps over security concerns.

1:31.5

But Chinese technology firms aren't America's only target.

1:35.3

Mr Trump's administration has also outlined plans to delist other Chinese companies

1:40.0

from American stock exchanges if they do not meet certain audit requirements.

1:44.0

What could all this mean for the future of businesses operating in the two countries?

1:48.0

There have always been ups and downs in the business relationship between America and China since Coca-Cola became the first Western company

1:56.3

to reenter into Communist China decades ago.

1:59.7

Vijevitisprun is our US business editor and was formerly our China business editor.

2:05.0

However, the latest series of events and ratcheting of tensions between the two countries

2:10.6

represents the greatest crisis in business for both American and Chinese

2:14.0

companies in living memory. President Trump has issued executive orders. What

2:18.7

happens do these become law? So while President Trump is president they carry a great deal of weight.

...

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