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World Business Report: US concern about UK helping new Asian bank led by China

13/03/2015

US concern about UK helping new Asian bank led by China

BBC World Service - World Business Report, US concern about UK helping new Asian bank led by China

The US is concerned about the UK helping China set up a new Asian investment bank

The US is concerned about the UK helping China set up a new Asian investment bank. And emissions of greenhouse gases stalled in 2014, even though the global economy kept growing.

The British Government claims its decision to join a new Asian infrastructure investment Bank creates an unrivalled opportunity for the UK and Asia to invest and grow together. The new bank, which will be led by China, will extend Beijing's influence in the region and according to many experts undermine the work of the Washington based World Bank. We get analysis from Matthew Goodman, a senior adviser for Asian economics, at the Centre for Strategic and International Studies.

Are measures to tackle climate change working better than the world thought? Emissions of greenhouse gases stalled last year, that is according to the International Energy Agency, even though the global economy kept expanding. There have been only three years in four decades when emissions fell or stopped rising, but during each period there was an economic downturn. This time though, it is mainly a shift in energy consumption in China that is behind the halt in emissions. But is this a lull before the storm? China is predicting that its emissions will not actually peak until 2030, so will the next decade undo all the good work? Points we get addressed by Mark Nicholls, a former editor of the London based magazine Environmental Finance.

One of the biggest events in European horse racing, the Cheltenham Festival, has come to an end today. Over the last four days a record number of people have attended the racing in the provincial English town, many of them from Ireland. We get a flavour of the sporting occasion that is becoming big business.

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