hello, i'm christian fraser. you're watching the context on bbc news. how to get along? joe biden and xijinping meet in bali to set terms, after months of rancour and sabre rattling over taiwan. how do the two superpowers avoid conflict in an era of strategic competition? joe biden said today's three—hour talks were "open and candid". what did come was a breakthrough on climate. the us and china have agreed to resume negotiations as climate leaders search for solutions at cop27. the british government strikes a deal with france to try and reduce the flow of migrants crossing the channel. the govt says new money will improve intelligence and increase patrols on the french side of the channel.

tonight with the context, victoria coates, senior energy advisor to the trump administration, and lord bilimoria, vice president of the confederation of british industry and founder of cobra beer. welcome to the programme. for the cameras, there were smiles and a firm handshake. joe biden has met xi xinping before, but this was the first time they had met in person since he took office. the two sides spent over three hours discussing the issues that have contributed to the worst us— china relations in 50 years. president biden said he told his chinese counterpart that us policy on taiwan has never changed. he warned that if they were not able to rein in north korea, then the us would move to further protect its allies in the region. and of course they discussed ukraine and russia's continued threat to use nuclear weapons. so on the face of it,

much common ground, but in the read out that followed, both sides appeared keen to downplay any idea that they were headed toward some new cold war—era confrontation. i mean, we had an open and candid conversation about our intentions and our priorities. it was clear — he was clear and i was clear, we're going to compete vigorously, but i'm not looking for conflict, i'm looking to manage this competition responsibly. i didn't find him more confrontational or more conciliatory — i found him the way he's always been, direct and straightforward. and do i think he's willing to compromise on various issues? yes. evan medeiros was barack obama's top policy advisor on the asia—pacific region. he served as director for china on the us national security council. he is now a professor at georgetown university. you were quoted over the weekend as saying this was the first superpower summit of the cold war

2.0 era. what you think out of it? this meeting was important because the stakes were so high. the relationship before this meeting was careening towards a crisis. what this meeting does was provided an opportunity for a necessary but probably somewhat uncomfortable airing of views. no agreements came out of it, but i think the fact that both sides were able to articulate their position, best case scenario, avoid some misconceptions, and hopefully stop the spiral downwards in religion, especially about the most difficult issues like the question of taiwan.- most difficult issues like the question of taiwan. china in its statement _ question of taiwan. china in its statement said _ question of taiwan. china in its statement said the _ question of taiwan. china in its statement said the teams - question of taiwan. china in its statement said the teams from question of taiwan. china in its - statement said the teams from each government will now work on implementing points of consensus. what areas in your mind new focus? everything it needs focus on the relationship. the two hot button issues are taiwan and technology export controls, and to some degree

chinese implicit support for russian military activity in the invasion of ukraine. under it as a whole variety of regional and global issues, like food security, climate change, emerging market debt. there are all sorts of areas for the us and china could work together, but right now neither side has really been interested in doing so, because of their differences on a national security issues. {iii their differences on a national security issues.— security issues. of course, underpinning _ security issues. of course, underpinning all— security issues. of course, underpinning all of - security issues. of course, underpinning all of this - security issues. of course, underpinning all of this is l security issues. of course, - underpinning all of this is china's new alliance with russia. i'm not sure whether it is an alliance of four that they see eye to eye on everything, but certainly they are a lot closer than they were. what sort of implications does not pose to the united states, do you think, and its policy on defence? i united states, do you think, and its policy on defence?— united states, do you think, and its policy on defence? i agree with you, it is not an — policy on defence? i agree with you, it is not an alliance _ policy on defence? i agree with you, it is not an alliance in _ policy on defence? i agree with you, it is not an alliance in the _ policy on defence? i agree with you, it is not an alliance in the classic - it is not an alliance in the classic use of the term, but i do think it is a strategic alignment that basically boils down to the fact that xijinping and vladimir putin

both agree that united states is the single biggest threat to both a domestic stability and to international security, and want to constrain and contain the united states as much as possible. and for the chair has probably look askance at the russian experience in ukraine, their view is, at the russian experience in ukraine, theirview is, putin at the russian experience in ukraine, their view is, putin might be a bustard, but at least he is our bustard and we need to because we are locked in a long—term competition with the united states. so, the question really becomes, at what point does china shift away from putin if his behaviour and the war becomes too costly? or do the chinese continue to de facto subsidised russian effort? and that is going to be important, because it will influence european alignment. and here i really mean it germany and france. in one of the reasons why chinese leader might want to do so much was because he wanted to project this image internationally after his big 20 party congress of

reasonableness. in order to further encourage germany and france are to have a policy towards china that is independent of the highly competitive approach articulated by the united states. buti competitive approach articulated by the united states.— competitive approach articulated by the united states. but i imagine she is all too aware _ the united states. but i imagine she is all too aware that _ the united states. but i imagine she is all too aware that europe - the united states. but i imagine she is all too aware that europe sees - the united states. but i imagine she is all too aware that europe sees a l is all too aware that europe sees a very different way to how it was viewed pre—disease—mac. we have had, just as we can from the chancel in germany, sent government needs to diversify away from china. the uk government has redesignated china as a strategic threat. so, the europeans are falling behind the united states. how do these two superpowers, then, go about this strategic competition without splitting the world in her. i think it's very possible _ splitting the world in her. i think it's very possible not _ splitting the world in her. i think it's very possible not that - splitting the world in her. i think it's very possible not that the i it's very possible not that the world will split in half, but you will begin to have more robust divisions. those divisions could be along the lines of military and

security affairs, with china and russia are aligned in one quarter, the us and europe, and us allies in asia sort of a in another corner of the globe. so, i don't believe that we are going to see geopolitically a replay of the old cold war. but i do think are going to see a new version of the cold war, version 2.0. a version for nuclear weapons are not necessarily at the four point, but the competition is going to be much more in the areas of economics. clearly on key technologies, semiconductors, artificial intelligence, and are going to be some hot button military issues like taiwan, for the us is trying to get greater agreement from germany, france, the uk, to support us positions there.— france, the uk, to support us positions there. victoria, let me ut this positions there. victoria, let me put this to _ positions there. victoria, let me put this to yom _ positions there. victoria, let me put this to you. it _ positions there. victoria, let me put this to you. it was _ positions there. victoria, let me put this to you. it was china - positions there. victoria, let me l put this to you. it was china trying to contain and constrain the united states it present. i think it was trump that was trying to contain and contain china to try to stop them

becoming this world superpower. does joe biden come on board and as he is, have room to negotiate with the chinese? would it be politically acceptable at home? i chinese? would it be politically acceptable at home?— chinese? would it be politically acceptable at home? i mean, i would hoe ou acceptable at home? i mean, i would hepe you would _ acceptable at home? i mean, i would hope you would be _ acceptable at home? i mean, i would hope you would be willing _ acceptable at home? i mean, i would hope you would be willing to - acceptable at home? i mean, i would hope you would be willing to put - hope you would be willing to put down a pretty hard line with the communist chinese, because the united states has enormous strengths, as my fellow guest at your side. strengths, as my fellow guest at our side. ., ~' ., strengths, as my fellow guest at our side. ., ~ ., i. strengths, as my fellow guest at our side. ., ~ ., ,, ., ., your side. you know, you have got the united — your side. you know, you have got the united states, _ your side. you know, you have got the united states, europe, - the united states, europe, australia, japan versus china and russia _ australia, japan versus china and russia i— australia, japan versus china and russia. i would australia, japan versus china and russia. iwould rather australia, japan versus china and russia. i would rather be on the first team — russia. i would rather be on the first team. so, i think we have enormous _ first team. so, i think we have enormous strengths, and i think we can as _ enormous strengths, and i think we can as president trump did, just let china _ can as president trump did, just let china not— can as president trump did, just let china not we — can as president trump did, just let china not we are not going to let them _ china not we are not going to let them play— china not we are not going to let them play is for suckers, as they did for— them play is for suckers, as they did for so— them play is for suckers, as they did for so many years. and i think that is— did for so many years. and i think that is the — did for so many years. and i think that is the one in playbook. canl that is the one in playbook. can i come back _ that is the one in playbook. can i come back to _ that is the one in playbook. can i come back to the _ that is the one in playbook. can i come back to the comments - that is the one in playbook. can i come back to the comments from the german vice chancellor this weekend. he said goods outcome from critical

sectors like telecommunications, semiconductors, most brita directors. you have to take other behind her own sovereignty in this field. the british government has repeatedly declared a national security decision whether to allow a chinese owned entity to acquire our lodges to produce it in newport. shouldn't it be totally off the cards? i shouldn't it be totally off the cards? ~ ., shouldn't it be totally off the cards? ~ . ., ., ., cards? i think what we are going to make very clear— cards? i think what we are going to make very clear over _ cards? i think what we are going to make very clear over here - cards? i think what we are going to make very clear over here to - cards? i think what we are going to make very clear over here to is - make very clear over here to is meeting — make very clear over here to is meeting between— make very clear over here to is meeting between president- make very clear over here to is - meeting between president biden, marco _ meeting between president biden, marco h. _ meeting between president biden, marco h. they— meeting between president biden, marco h, they have _ meeting between president biden, marco h, they have both— meeting between president biden, marco h, they have both known. meeting between president biden, l marco h, they have both known each other— marco h, they have both known each other when _ marco h, they have both known each other when they _ marco h, they have both known each other when they have _ marco h, they have both known each other when they have both _ marco h, they have both known each other when they have both known i marco h, they have both known each. other when they have both known each other when they have both known each other by— other when they have both known each other by the _ other when they have both known each other by the vice — other when they have both known each other by the vice president, _ other when they have both known each other by the vice president, and - other by the vice president, and this is a — other by the vice president, and this is a term _ other by the vice president, and this is a term for— other by the vice president, and this is a term for president - other by the vice president, andl this is a term for president biden is able _ this is a term for president biden is able to— this is a term for president biden is able to he _ this is a term for president biden is able to be very— this is a term for president biden is able to be very clear— this is a term for president biden is able to be very clear to - this is a term for president biden is able to be very clear to chen . this is a term for president biden. is able to be very clear to chen and has expressed _ is able to be very clear to chen and has expressed concerns _ is able to be very clear to chen and has expressed concerns about - is able to be very clear to chen and i has expressed concerns about china's policies _ has expressed concerns about china's policies towards — has expressed concerns about china's policies towards hong _ has expressed concerns about china's policies towards hong kong _ has expressed concerns about china's policies towards hong kong and - policies towards hong kong and taiwan — policies towards hong kong and taiwan and _ policies towards hong kong and taiwan. and president- policies towards hong kong and taiwan. and president xi - policies towards hong kong and taiwan. and president xi has i policies towards hong kong and - taiwan. and president xi has spoken about— taiwan. and president xi has spoken about peace — taiwan. and president xi has spoken about peace between _ taiwan. and president xi has spoken about peace between russia - taiwan. and president xi has spoken about peace between russia and - about peace between russia and ukraine, — about peace between russia and ukraine, and— about peace between russia and ukraine, and antony— about peace between russia and ukraine, and antony blinken- about peace between russia and . ukraine, and antony blinken going to visit china, _ ukraine, and antony blinken going to visit china, these _

ukraine, and antony blinken going to visit china, these are _ ukraine, and antony blinken going to visit china, these are positive - visit china, these are positive moves, — visit china, these are positive moves, and _ visit china, these are positive moves, and from _ visit china, these are positive moves, and from a _ visit china, these are positive moves, and from a businessl visit china, these are positive - moves, and from a business point of view, _ moves, and from a business point of view, we _ moves, and from a business point of view, we have — moves, and from a business point of view, we have got— moves, and from a business point of view, we have got to _ moves, and from a business point of view, we have got to be _ moves, and from a business point of view, we have got to be real- moves, and from a business point of view, we have got to be real here. . view, we have got to be real here. the united — view, we have got to be real here. the united kingdom _ view, we have got to be real here. the united kingdom does- view, we have got to be real here. the united kingdom does almost. view, we have got to be real here. - the united kingdom does almost £100 billion— the united kingdom does almost £100 billion worth _ the united kingdom does almost £100 billion worth of _ the united kingdom does almost £100 billion worth of trade _ the united kingdom does almost £100 billion worth of trade with _ the united kingdom does almost £100 billion worth of trade with china. - billion worth of trade with china. on the _ billion worth of trade with china. on the other— billion worth of trade with china. on the other hand, _ billion worth of trade with china. on the other hand, we _ billion worth of trade with china. on the other hand, we have - billion worth of trade with china. on the other hand, we have an i on the other hand, we have an integrated _ on the other hand, we have an integrated review— on the other hand, we have an integrated review very - on the other hand, we have an integrated review very clearly i on the other hand, we have an . integrated review very clearly set our focus — integrated review very clearly set our focus is — integrated review very clearly set our focus is it— integrated review very clearly set our focus is it out— integrated review very clearly set our focus is it out to _ integrated review very clearly set our focus is it out to the - our focus is it out to the indo—pacific. _ our focus is it out to the indo—pacific. we - our focus is it out to the indo—pacific. we have . our focus is it out to the - indo—pacific. we have security alliances — indo—pacific. we have security alliances with _ indo—pacific. we have security alliances with australia. - indo—pacific. we have security alliances with australia. india i indo—pacific. we have security. alliances with australia. india and australia — alliances with australia. india and australia and _ alliances with australia. india and australia and japan _ alliances with australia. india and australia and japan and _ alliances with australia. india and australia and japan and united i australia and japan and united states— australia and japan and united states of— australia and japan and united states of america _ australia and japan and united states of america have - australia and japan and united states of america have a - australia and japan and united . states of america have a security alliance — states of america have a security alliance i— states of america have a security alliance. i have _ states of america have a security alliance. i have been— states of america have a security alliance. i have been suggestingl states of america have a security i alliance. i have been suggesting the uk could _ alliance. i have been suggesting the uk could that — alliance. i have been suggesting the uk could that salute _ alliance. i have been suggesting the uk could that salute that _ alliance. i have been suggesting the uk could that salute that it - alliance. i have been suggesting the uk could that salute that it as - uk could that salute that it as roundabout _ uk could that salute that it as roundabout. china _ uk could that salute that it as roundabout. china has- uk could that salute that it as roundabout. china has also i uk could that salute that it as . roundabout. china has also seen uk could that salute that it as - roundabout. china has also seen very clearly _ roundabout. china has also seen very clearly come — roundabout. china has also seen very clearly come up — roundabout. china has also seen very clearly come up with _ roundabout. china has also seen very clearly come up with russia - roundabout. china has also seen very clearly come up with russia invadingl clearly come up with russia invading ukraine, _ clearly come up with russia invading ukraine, how— clearly come up with russia invading ukraine, how the _ clearly come up with russia invading ukraine, how the west _ clearly come up with russia invading ukraine, how the west is— clearly come up with russia invading ukraine, how the west is united, - clearly come up with russia invadingl ukraine, how the west is united, how nato are _ ukraine, how the west is united, how nato are stronger— ukraine, how the west is united, how nato are stronger than _ ukraine, how the west is united, how nato are stronger than ever, - ukraine, how the west is united, how nato are stronger than ever, and - nato are stronger than ever, and sweden — nato are stronger than ever, and sweden and _ nato are stronger than ever, and sweden and finland _ nato are stronger than ever, and sweden and finland are - nato are stronger than ever, and sweden and finland are now- nato are stronger than ever, and - sweden and finland are nowjoining. they know— sweden and finland are nowjoining. they know how— sweden and finland are nowjoining. they know how united _ sweden and finland are nowjoining. they know how united we _ sweden and finland are nowjoining. they know how united we are. - sweden and finland are nowjoining. they know how united we are. theyl they know how united we are. they will think— they know how united we are. they will think twice _ they know how united we are. they will think twice before _ they know how united we are. they will think twice before doing - will think twice before doing anything _ will think twice before doing anything with _ will think twice before doing anything with type - will think twice before doing anything with type one, - will think twice before doing - anything with type one, because they know there _ anything with type one, because they know there will— anything with type one, because they know there will be _ anything with type one, because they know there will be a _ anything with type one, because they know there will be a united _ know there will be a united response _ know there will be a united response-— know there will be a united resonse. , ,, ., response. let me pressure on the other point- — response. let me pressure on the other point. do _ response. let me pressure on the other point. do you _ response. let me pressure on the other point. do you think - response. let me pressure on the other point. do you think the - other point. do you think the chinese should be buying into our semiconductor plants, and to the

biggest chip manufacturer that they have in the uk? we biggest chip manufacturer that they have in the uk?— have in the uk? we have this balancing _ have in the uk? we have this balancing act _ have in the uk? we have this balancing act where - have in the uk? we have this balancing act where as - have in the uk? we have thisl balancing act where as long as have in the uk? we have this i balancing act where as long as it have in the uk? we have this - balancing act where as long as it is no threat _ balancing act where as long as it is no threat to— balancing act where as long as it is no threat to our— balancing act where as long as it is no threat to our security, - balancing act where as long as it is no threat to our security, we - balancing act where as long as it is no threat to our security, we havel no threat to our security, we have to allow _ no threat to our security, we have to allow for— no threat to our security, we have to allow for investment _ no threat to our security, we have to allow for investment to - no threat to our security, we have to allow for investment to come l no threat to our security, we have i to allow for investment to come into this country — to allow for investment to come into this country and _ to allow for investment to come into this country. and that _ to allow for investment to come into this country. and that is _ to allow for investment to come into this country. and that is where - to allow for investment to come into this country. and that is where we . this country. and that is where we have _ this country. and that is where we have had — this country. and that is where we have had the — this country. and that is where we have had the situation— this country. and that is where we have had the situation with - this country. and that is where we have had the situation with other. have had the situation with other companies, _ have had the situation with other companies, where _ have had the situation with other companies, where china - have had the situation with other companies, where china has- have had the situation with other- companies, where china has not been allowed _ companies, where china has not been allowed to— companies, where china has not been allowed to invest. _ companies, where china has not been allowed to invest. one _ companies, where china has not been allowed to invest. one other- companies, where china has not been allowed to invest. one other hand, i allowed to invest. one other hand, we the _ allowed to invest. one other hand, we the second _ allowed to invest. one other hand, we the second or— allowed to invest. one other hand, we the second or third _ allowed to invest. one other hand, we the second or third largest - we the second or third largest recipient _ we the second or third largest recipient of _ we the second or third largest recipient of inward _ we the second or third largest| recipient of inward investment we the second or third largest i recipient of inward investment in the world — recipient of inward investment in the world we _ recipient of inward investment in the world. we have _ recipient of inward investment in the world. we have got- recipient of inward investment in the world. we have got to - recipient of inward investment in the world. we have got to be - recipient of inward investment in. the world. we have got to be open recipient of inward investment in- the world. we have got to be open to inward _ the world. we have got to be open to inward investment, _ the world. we have got to be open to inward investment, but— the world. we have got to be open to inward investment, but we _ the world. we have got to be open to inward investment, but we have - the world. we have got to be open to inward investment, but we have also| inward investment, but we have also got to— inward investment, but we have also got to be _ inward investment, but we have also got to be very— inward investment, but we have also got to be very careful— inward investment, but we have also got to be very careful when - inward investment, but we have also got to be very careful when we - inward investment, but we have also got to be very careful when we are l got to be very careful when we are loved _ got to be very careful when we are loved and — got to be very careful when we are loved and when _ got to be very careful when we are loved and when we _ got to be very careful when we are loved and when we don't. - got to be very careful when we are loved and when we don't. the - loved and when we don't. the american _ loved and when we don't. american government has a loved and when we don't.- american government has a very loved and when we don't— american government has a very tough line on this. i'm not sure it agrees that there should be chinese investment in these strategic industries. investment in these strategic industries-— investment in these strategic industries. . �* , ,, investment in these strategic industries. . �*, ,, ., industries. that's right. the us for the very long _ industries. that's right. the us for the very long time _ industries. that's right. the us for the very long time has _ industries. that's right. the us for the very long time has had - industries. that's right. the us for the very long time has had a - industries. that's right. the us for the very long time has had a very. the very long time has had a very robust inward investment review process, and it is basically an interagency committee that screens inward investment for national security. and as a result, there really hasn't been any significant

chinese investment in those critical sectors. and now us is looking to do the reverse, which is create processor to screen outbound investment to make sure that american firms come on american investors, especially in venture capital investors, don't unwillingly finance china's development of semiconductors. to date, the united states has been focused on competing with china. but now, after the semiconductor technology export controls were adopted, the us policy is moving beyond sort of simple competes, i want to maintain relevance, to a posture but it actually wants to cap a chinese capabilities. in other words, maintain an absolute american technology could scratch more technological advantage. and by hobbling china in that we actually degrading chinese capabilities, you are assuming a much more a zero more zero—sum position, which will change, i believe is changing the nature of the competition between

the united states and china. flan nature of the competition between the united states and china. can we aet a cuick the united states and china. can we get a quick final _ the united states and china. can we get a quick final one _ the united states and china. can we get a quick final one to _ the united states and china. can we get a quick final one to you - the united states and china. can we get a quick final one to you on - the united states and china. can we get a quick final one to you on it - get a quick final one to you on it nuclear? obviously, the proliferation of nuclear weapons in china is a concern in washington, and that was your business when you are in the obama government. is there any collaboration at all? collaboration between him? between the two sides on nonproliferation? theoretically, this should be cooperating on to big nonproliferation efforts, iran and north korea, the problem is the chinese look at the us china competition in such competitive terms that they are really not interested in helping the united states a drastic north korean threat. in other words, they are willing to tolerate a nuclear north korea stop at nuclear north korea is aligned with china. and that is we are today, and this is many administrations in washington have tried to elicit more and better

cooperation from china, and it has been fits and starts. it has never really worked in any kind of significant way. so, it remains one of these goals at the often particular, but the practical reality is that the chinese are just not that interested. irate reality is that the chinese are 'ust not that interestedi reality is that the chinese are 'ust not that interested. we will have to live it there- _ not that interested. we will have to live it there. thank _ not that interested. we will have to live it there. thank you _ not that interested. we will have to live it there. thank you very - not that interested. we will have to live it there. thank you very much i live it there. thank you very much indeed for coming on the programme. much appreciated. the uk and france have struck a deal to try to reduce the number of migrants crossing the english channel in small boats. under the new agreement, uk border force officials will be able to observe their french counterparts in control rooms and on beaches. the number of officers patrolling the french coast will rise from 200 to 300. it is costing the uk government an extra £8 million a year on top of the £55 million they already contribute. the number of migrants who have crossed the channel in small boats this year topped 40,000, up steeply from 28,000 last year. by contrast, only 300 people made the crossing in 2018 — far more came across

in lorries, then. karan, politico are reporting this morning that there has been a reprochment since rishi sunak took over. in fact, by all accounts, he was practically falling over himself to make it clear to emmanuel macron he now sees him as a friend, an ally. a lot of scepticism though that this new money is going to make any difference? the most important thing is that there _ the most important thing is that there seems to be a very good relationship between rishi sunak and president _ relationship between rishi sunak and president macron, and that is wonderful. the most important thing is admitting that we need to work in this together, and the move made no with having _ this together, and the move made no with having abbott police force in france _ with having abbott police force in france alongside the french police, working _ france alongside the french police, working side by side, sharing information, sharing data, this is absolutely— information, sharing data, this is absolutely the right way to approach us. absolutely the right way to approach us it— absolutely the right way to approach us it will_ absolutely the right way to approach us. it will make a difference. in money— us. it will make a difference. in money terms, we are talking about £8 million _ money terms, we are talking about £8 million more, the money in the bigger— million more, the money in the bigger picture is a drop in the

ocean — bigger picture is a drop in the ocean it _ bigger picture is a drop in the ocean it is _ bigger picture is a drop in the ocean. it is actual working together that is— ocean. it is actual working together that is absolutely key. and let's look _ that is absolutely key. and let's look at — that is absolutely key. and let's look at net migration. net migration actually— look at net migration. net migration actually much higher now than it was before _ actually much higher now than it was before. before brexit, the whole body— before. before brexit, the whole body was — before. before brexit, the whole body was about migration figures rising. _ body was about migration figures rising, and uncontrolled migration. net migration is now higher than it was before — net migration is now higher than it was before brexit, and on top of that, _ was before brexit, and on top of that, we — was before brexit, and on top of that, we have a where we have severe labour— that, we have a where we have severe labour shortages, and we need to actually— labour shortages, and we need to actually bring in labour from around the world, — actually bring in labour from around the world, including the european union, _ the world, including the european union, to— the world, including the european union, to address the labour shortages across all sectors, whether— shortages across all sectors, whether agricultural workers, financial _ whether agricultural workers, financial services, hospitality or in every — financial services, hospitality or in every part of our economy. we need _ in every part of our economy. we need access— in every part of our economy. we need access to that, but on the other— need access to that, but on the other hand, we have got to control illegal— other hand, we have got to control illegal migration, which is what we're _ illegal migration, which is what we're trying to do, stopping these ports. _ we're trying to do, stopping these ports, which is dangerous. this is smugglers — ports, which is dangerous. this is smugglers who are really behaving in an appalling manner, and this needs to be _ an appalling manner, and this needs to be stopped. no question about it. i will to be stopped. no question about it. twill come _ to be stopped. no question about it. i will come to the demands of

business in a second. as you suggest, stopping the boats is one side of the problem. the other is processing asylum claims once they're here. here's a man the bbc is calling abu — he is from sudan — he was involved in protests against the military government at home and is now seeking asylum in britain. here's what he told the world at one. living in a hotel in yorkshire. i came to uk in november, at the end of november. i've been living in a hotel since that time. so for a year you've been there? yeah, been moving from a hotel to another hotel. some people have been two years. how often are they in contact with you? actually, there is no contact at all. imean... sorry, just what do you mean? we can't talk to home office. i mean, asylum cannot talk to home office directly. as shejust suggested,

as she just suggested, business would like to see a different approach to migration. there are thousands of people like abu, sitting in hotels, he has been an hotel for a year, it is costing £7 million a day to help people like him, and he can't do other work. many other countries allow asylum seekers— many other countries allow asylum seekers to — many other countries allow asylum seekers to work while their claims are being — seekers to work while their claims are being processed. we should look at this— are being processed. we should look at this in_ are being processed. we should look at this in a _ are being processed. we should look at this in a very sensible way. the genuine _ at this in a very sensible way. the genuine asylum seekers who are genuinely— genuine asylum seekers who are genuinely escaping to come here seeking — genuinely escaping to come here seeking refuge in our country, we have _ seeking refuge in our country, we have been— seeking refuge in our country, we have been very welcoming over the centuries _ have been very welcoming over the centuries come over history. and look— centuries come over history. and look at _ centuries come over history. and look at the — centuries come over history. and look at the difference that these people _ look at the difference that these people have made to our country. the immigration _ people have made to our country. the immigration has been a huge asset to the united _ immigration has been a huge asset to the united kingdom, for immigrants are breaking all the glass ceilings, there _ are breaking all the glass ceilings, there is— are breaking all the glass ceilings, there is opportunity in the uk regardless of race, or background. look— regardless of race, or background. look at— regardless of race, or background. look at rishi sunak. the british asian _ look at rishi sunak. the british asian has — look at rishi sunak. the british asian has become prime minister of this country. this is a wonderful country — this country. this is a wonderful country, offering opportunity. i have _ country, offering opportunity. i have met — country, offering opportunity. i have met an asylum seeker from

somalia — have met an asylum seeker from somalia who won a scholarship to eton who — somalia who won a scholarship to eton who then went to ultratech became — eton who then went to ultratech became president of the oxford union. — became president of the oxford union, who is going to have a hugely successful— union, who is going to have a hugely successful future in this country. so, successful future in this country. so. when — successful future in this country. so, when you give them the opportunity, the genuine asylum seekers, — opportunity, the genuine asylum seekers, they are a huge asset to our country — seekers, they are a huge asset to our country-— our country. victory of what is a lot of people — our country. victory of what is a lot of people is _ our country. victory of what is a lot of people is that these - our country. victory of what is a l lot of people is that these claims aren't being processed quickly enough. we don't have enough caseworkers, the staff turn turnover at the home office is high, there are arcane systems being used to document and apply. is it any better in the united states? unfortunately, no. ithink in the united states? unfortunately, no- i think we _ in the united states? unfortunately, no. i think we face _ in the united states? unfortunately, no. i think we face the _ in the united states? unfortunately, no. i think we face the same - no. i think we face the same problem, that the main issue is not cooperating with neighbouring countries, it's worth establishing a sovereign borders, and making sure that we have a legal, safe process to bring not simply asylum seekers, because that is one thing, it is the migrants which is a much larger population, to come into the united states, who want to come here not to

flee some persecution but to work. unlike the united kingdom, the united states needs additional labour force united states needs additional labourforce in united states needs additional labour force in a whole range of sectors. and so, this should be a logical thing to do. but by opening the borders, and letting people come in willy—nilly, and as project and point you mention in hotel, you just get stuck in this kind of grace. that is not humanitarian, that's not helpful. what we need our secure borders with a clear process to bring the people in so that they can do the work that they want to do and that our need them to do. irate do the work that they want to do and that our need them to do.— that our need them to do. we must leave it there. _ that our need them to do. we must leave it there. thank _ that our need them to do. we must leave it there. thank you _ that our need them to do. we must leave it there. thank you very - that our need them to do. we must| leave it there. thank you very much for that. perhaps the most significant thing to come out was that the negotiations on climate change. the two sides of the two biggest polluters, the talks have been frozen for months.

china suspended all formal cooperation with the white house in august in retaliation for the us speaker nancy pelosi's trip to taiwan. in egypt, at the un's climate conference, known as cop 27, john kerry, mr biden's climate envoy, has yet to meet with his chinese counterpart. today's announcement then, could be a signifcant break through, with several important days of the conference yet to come. lord deben is the chairman of the uk's climate change committee. welcome to the programme. this is good news, and it is, just the right time, presumably. good news, and it is, 'ust the right time, presumably.— time, presumably. yes, of course, because united _ time, presumably. yes, of course, because united states _ time, presumably. yes, of course, because united states and - time, presumably. yes, of course, because united states and china . time, presumably. yes, of course, i because united states and china are the two greatest polluters. china, partly because of the export from the united states of so much of the manufacturing, and that is true of all of us, so we can't complain about the chinese, because they are actually polluting in order to produce things which we then buy. 50 produce things which we then buy. so far, i was in washington last week, but it seems to me there has been scant new announcements from the

summit on fudging or cutting emissions faster. it seems to me that the war in ukraine under financial pressure that many of these governments are under is limiting the ambition. i5 these governments are under is limiting the ambition.— these governments are under is limiting the ambition. is that fair? is not as limiting the ambition. is that fair? is not as good _ limiting the ambition. is that fair? is not as good as _ limiting the ambition. is that fair? is not as good as i'd _ limiting the ambition. is that fair? is not as good as i'd like _ limiting the ambition. is that fair? is not as good as i'd like it - limiting the ambition. is that fair? is not as good as i'd like it to - limiting the ambition. is that fair? is not as good as i'd like it to be, l is not as good as i'd like it to be, but then it very rarely is. the british have in fact committed themselves even further, and rishi sunak made i think a very important contribution was to put in the end, the rich countries have really got to pay for the poor countries to move from where they are to where they need to be without going through the dirty states which we went through. and frankly, that is for our own interest, because if you really want to have a safer world to live in, you've got to have a world which has fought climate change, otherwise, with what is happening in the countries and those nearest to the countries and those nearest to the equator, it's so serious that we will have large numbers of people

may think. you havejust will have large numbers of people may think. you have just had a will have large numbers of people may think. you havejust had a piece about migration. we haven't seen anything of the migration will have if we don't fight climate change, because of climate will force people to leave their countries, and then will be overwhelmed by the pressures. will be overwhelmed by the pressures-— will be overwhelmed by the ressures. . , . ., ., pressures. that may bring victoria in on that- — pressures. that may bring victoria in on that. people _ pressures. that may bring victoria in on that. people who _ pressures. that may bring victoria in on that. people who listen - pressures. that may bring victoria in on that. people who listen to i in on that. people who listen to this programme a lot that i asked the republicans and offer lots about this migration issue in the context of climate, and i can't for the life of climate, and i can't for the life of me understand why republicans find it so hard to engage with the issue. seeing the pores from the midterms of this last week and the difference that young voters made to the final results, particularly in pennsylvania. look at this. nearly one in four of them said that climate change was their big issue. do you think it's time that the republicans engaged with this? absolutely. i think we actually have a remarkable — absolutely. i think we actually have a remarkable story— absolutely. i think we actually have a remarkable story to _ absolutely. i think we actually have a remarkable story to tell _ absolutely. i think we actually have a remarkable story to tell stop - absolutely. i think we actually have a remarkable story to tell stop the i a remarkable story to tell stop the trump _ a remarkable story to tell stop the trump administration— a remarkable story to tell stop the trump administration lowered -

a remarkable story to tell stop the i trump administration lowered carbon emissions _ trump administration lowered carbon emissions more — trump administration lowered carbon emissions more than _ trump administration lowered carbon emissions more than any _ emissions more than any administration _ emissions more than any administration in - emissions more than any administration in historyl emissions more than any - administration in history because emissions more than any _ administration in history because of the conversion _ administration in history because of the conversion to _ administration in history because of the conversion to natural— administration in history because of the conversion to natural gas. - administration in history because of the conversion to natural gas. andl administration in history because of the conversion to natural gas. and i think— the conversion to natural gas. and i think if— the conversion to natural gas. and i think if we — the conversion to natural gas. and i think if we are — the conversion to natural gas. and i think if we are looking _ the conversion to natural gas. and i think if we are looking at _ the conversion to natural gas. and i think if we are looking at the - think if we are looking at the developing _ think if we are looking at the developing world, _ think if we are looking at the developing world, the - think if we are looking at the developing world, the best. think if we are looking at the - developing world, the best thing that we — developing world, the best thing that we can _ developing world, the best thing that we can do _ developing world, the best thing that we can do for _ developing world, the best thing that we can do for them - developing world, the best thing that we can do for them is, - developing world, the best thing that we can do for them is, i- that we can do for them is, i strongly— that we can do for them is, i strongly agree _ that we can do for them is, i strongly agree, move - that we can do for them is, i. strongly agree, move straight that we can do for them is, i- strongly agree, move straight to a cleaner, _ strongly agree, move straight to a cleaner, more— strongly agree, move straight to a cleaner, more efficient, _ strongly agree, move straight to a cleaner, more efficient, more - strongly agree, move straight to a . cleaner, more efficient, more stable energy— cleaner, more efficient, more stable energy source — cleaner, more efficient, more stable energy source so _ cleaner, more efficient, more stable energy source, so that _ cleaner, more efficient, more stable energy source, so that developing. energy source, so that developing countries — energy source, so that developing “nibbles can _ energy source, so that developing countries can offer— energy source, so that developing countries can offer their _ energy source, so that developing countries can offer their citizens . countries can offer their citizens the kind — countries can offer their citizens the kind of— countries can offer their citizens the kind of energy _ countries can offer their citizens the kind of energy security- countries can offer their citizens the kind of energy security that| countries can offer their citizens i the kind of energy security that we have _ the kind of energy security that we have and — the kind of energy security that we have and that _ the kind of energy security that we have. and that is _ the kind of energy security that we have. and that is natural— the kind of energy security that we have. and that is natural gas, - the kind of energy security that we have. and that is natural gas, that| have. and that is natural gas, that is new_ have. and that is natural gas, that is new clear— have. and that is natural gas, that is new clear right _ have. and that is natural gas, that is new clear right now. _ have. and that is natural gas, that is new clear right now. and - have. and that is natural gas, that is new clear right now. and if- have. and that is natural gas, that is new clear right now. and if youl is new clear right now. and if you try to _ is new clear right now. and if you try to force — is new clear right now. and if you try to force these _ is new clear right now. and if you try to force these are _ is new clear right now. and if you try to force these are people - is new clear right now. and if you try to force these are people on i is new clear right now. and if youl try to force these are people on to renewables— try to force these are people on to renewables that _ try to force these are people on to renewables that are _ try to force these are people on to renewables that are not _ try to force these are people on to renewables that are not reliable, i renewables that are not reliable, particularly — renewables that are not reliable, particularly for _ renewables that are not reliable, particularly for countries - renewables that are not reliable, particularly for countries along. renewables that are not reliable, i particularly for countries along the equator, _ particularly for countries along the equator, but— particularly for countries along the equator, but the _ particularly for countries along the equator, but the energy— particularly for countries along the equator, but the energy needs - particularly for countries along the equator, but the energy needs are going _ equator, but the energy needs are going to _ equator, but the energy needs are going to be — equator, but the energy needs are going to be very— equator, but the energy needs are going to be very high— equator, but the energy needs are going to be very high if— equator, but the energy needs are going to be very high if they- equator, but the energy needs are going to be very high if they wantl going to be very high if they want to develop. — going to be very high if they want to develop, this _ going to be very high if they want to develop, this is _ going to be very high if they want to develop, this is simply- to develop, this is simply impractical. _ to develop, this is simply impractical. so, - to develop, this is simply impractical. so, i- to develop, this is simply impractical. so, ithink. to develop, this is simply. impractical. so, i think this to develop, this is simply- impractical. so, i think this is an easy— impractical. so, i think this is an easy solution _ impractical. so, i think this is an easy solution and _ impractical. so, i think this is an easy solution and i— impractical. so, i think this is an easy solution and i think - impractical. so, i think this is an easy solution and i think we - impractical. so, i think this is an easy solution and i think we can| impractical. so, i think this is an. easy solution and i think we can all agree _ easy solution and i think we can all agree on — easy solution and i think we can all arree on. ., , easy solution and i think we can all arree on. . , , ., ., agree on. that is the standard refrain, that _ agree on. that is the standard refrain, that you _ agree on. that is the standard refrain, that you can't - agree on. that is the standard refrain, that you can't turn - agree on. that is the standard refrain, that you can't turn off| refrain, that you can't turn off fossil fuel until you have energy security. fossil fuel until you have energy securi . ., , fossil fuel until you have energy securi . . , ., , security. can i 'ust say, that is absolute

security. can ijust say, that is absolute nonsense _ security. can ijust say, that is absolute nonsense on - security. can ijust say, that is absolute nonsense on a - security. can i just say, that is| absolute nonsense on a natural security. can i just say, that is - absolute nonsense on a natural gas. if you move to natural gas, then you can't fight climate change. and that story from america is nonsense. it was a run about the big energy companies who wanted natural gas. the republicans have got to learn that the cheapest form of a generation is renewable. it is offshore wind, onshore wind and photovoltaic. that is what the equator news, that is what we are going to pay for, and as long as the republican party is in the pockets of the people who deny to climate change in the first place, then it said there was an argument about the science, and now are trying to sell natural gas, which we have done in britain but to be emerging from natural gas, air because it is too expensive, be because it pollutes come and see because the renewables are safer, better and more reliable. and really, that is a total load of old codswallop. i’gre

and really, that is a total load of old codswallop.— old codswallop. i've only got a minute and — old codswallop. i've only got a minute and a _ old codswallop. i've only got a minute and a half. _ old codswallop. i've only got a minute and a half. i— old codswallop. i've only got a minute and a half. i could - old codswallop. i've only got a. minute and a half. i could come old codswallop. i've only got a - minute and a half. i could come back to you, victoria, but i want to get lord bilimoria and, just because india is a bit of a success story this week. they are saying they are going to push for a deal to fester in all fossilfuels, rather going to push for a deal to fester in all fossil fuels, rather than just call. in all fossil fuels, rather than 'ust call. ~ , in all fossil fuels, rather than 'ustcall. , , ,, ., just call. absolutely. i spent one and a half _ just call. absolutely. i spent one and a half out _ just call. absolutely. i spent one and a half out of _ just call. absolutely. i spent one and a half out of two _ just call. absolutely. i spent one and a half out of two weeks - just call. absolutely. i spent one and a half out of two weeks in i and a half out of two weeks in glasgow— and a half out of two weeks in glasgow last year, business is no point _ glasgow last year, business is no point major— glasgow last year, business is no point major role, business is making come _ point major role, business is making come in _ point major role, business is making come in. 60% of the ftse 100 point major role, business is making come in. 60% of the ftse100 are committed — come in. 60% of the ftse100 are committed to net zero. the 1.4 target — committed to net zero. the 1.4 target has _ committed to net zero. the 1.4 target has to be striven for, we have _ target has to be striven for, we have to — target has to be striven for, we have to go _ target has to be striven for, we have to go for that, but the point as it _ have to go for that, but the point as it is _ have to go for that, but the point as it is a — have to go for that, but the point as it is a transition. this is not an on— as it is a transition. this is not an on off— as it is a transition. this is not an on off switch. but the sooner we transition _ an on off switch. but the sooner we transition to — an on off switch. but the sooner we transition to hydrogen come at it once, _ transition to hydrogen come at it once to — transition to hydrogen come at it once, to solar, to smart module reactors— once, to solar, to smart module reactors that can power cities the size of— reactors that can power cities the size of 300 people each, that can be set up _ size of 300 people each, that can be set up within five years, the sooner we do _ set up within five years, the sooner we do that— set up within five years, the sooner we do that the less reliant we are on countries like russia and the situation — on countries like russia and the situation we find yourself in today.

so, situation we find yourself in today. so. we _ situation we find yourself in today. so, we need to double down on this more _ so, we need to double down on this more now— so, we need to double down on this more now than ever. i so, we need to double down on this more now than ever.— so, we need to double down on this more now than ever. i think germany would probably _ more now than ever. i think germany would probably endorse _ more now than ever. i think germany would probably endorse that - more now than ever. i think germany i would probably endorse that message. that was feisty up than i thought, but good debate nonetheless. we will be right back. you're going to talk about the midterms and also about the collapse of crypto currencies. hello. a side to autumn we haven't seen much of. a calm, foggy one across eastern areas to begin today. not much fog, though, in the week ahead. there will be some sunshine at times. hello. the side of autumn we are going to get is one that we're fairly familiar with, and that is one driven by low pressure, with spells of wind and rain at times. and actually, the air coming around the low pressure from the northwest of us in the atlantic does mean that temperatures are on the way down compared with the exceptionally mild weather we've had of late. so as we look at the temperature trend here, from a selection of locations, much closer to average for the time of year by the end of the week, and it could well, by saturday morning, be quite chilly as we start

the weekend with a frost. and, yes, spells of wind and rain on the way and turning much wetter from the west and southwest as we go through this evening and night. so we'll see this spell of heavy rain moving in with strengthening winds as well, gales developing around southern and western coasts, and could be quite tricky travelling conditions across south wales and parts of southern england as we start the day tomorrow. those spots in the east that will start the day dry, it won't stay that way for very long because the rain is advancing further north and east. and once it gets into scotland, it's here we could see some disruption, maybe localflooding, in parts of aberdeenshire, angus, perth and kinross, for example. the rain will be accompanied by gusty winds. does clear from southwest scotland. northern ireland, largely dry and bright. wales and much of southern england drying up by the end of the afternoon, parts of the midlands too. there will be further gusty, blustery showers moving in here, although still on the mild side before those temperatures creep down even further as the week goes on. now, wednesday, a somewhat quieter day. still windy, especially in the northern isles. there'll be showers towards the south and west.

many places will actually have a largely dry day on wednesday before the next spell of wet and windy weather speeds in from the southwest later in the day. and that will track across the uk overnight into thursday. we'll have gales again around the english channel coast, north sea coasts for a time early thursday, and then quite stormy as this area of low pressure gets closer to the northern isles, especially into shetland, on thursday. behind that, blustery winds still across the uk, with sunshine and the chance for showers. as that area of low pressure pulls away for friday, it will be a quieter day. and as i mentioned at the start of the weekend, could be quite chilly with a touch of frost out there before further spells of wind and rain come our way as the weekend goes on. that's your latest forecast. bye—bye for now.

bilimoria hello, i'm christian fraser. you're watching the context on bbc news. the wait continues — nearly a week after voters cast ballots in the us midterms, control of the lower house of congress is still undecided. republicans need four seats to gain control of the house of representatives. democrats, who have retained the senate, need double that. from the king of crypto, to bankruptcy in eight days, we explore the destruction of what is being called the biggest destructions of wealth ever. a big birthday gift for the louvre in abu dhabi — one of leonardo da vinci's final paintings has gone on show. tonight with the context, victoria coates, who was a white house staffer under

president trump, and lord bilimoria, vice president of the confederation of british industry and founder of cobra beer. welcome back, nearly one week after voters cast ballots in the us midterms, we are still waiting to learn who will control the lower chamber of congress. republicans need at least 218 seats to take a majority in the house of representatives. currently they have 214, democrats are on 210. still a lot of races to call, but it looking like a much steeper climb now for the democrats. in the senate though democrats have gained 1 and have already retained control — they are now on 50 seats — the outstanding race in georgia, which is heading to a runoff in december, would give them an outright majority if the incumbent raphael warnock is re—elected. our north america correspondent anthony zurcher is here. just anthony zurcher is here. bring us up to speed with

races, just bring us up to speed with these races, are we now more or less certain that the democrats will take control of the house?— control of the house? well, we are more or less _ control of the house? well, we are more or less thinking _ control of the house? well, we are more or less thinking the - more or less thinking the republicans will take control. they are leading in enough of the race that it looks like they are going to take a majority in —— but some unexpected development in. if they get a majority, it is going to be very narrow, you are talking about 220, 221, 222 tops, which is when 218 is the magic number, that doesn't allow you to lose a lot of seats. members of congress get sick, they sometimes died, there are vacant cities in the house of representatives, that is a very tenuous majority if they get it for them to do anything of substance in them to do anything of substance in the next two years. mi them to do anything of substance in the next two years.— the next two years. all of which has implications — the next two years. all of which has implications for _ the next two years. all of which has implications for the _ the next two years. all of which has implications for the man _ the next two years. all of which has implications for the man who i the next two years. all of which has implications for the man who wants j implications for the man who wants to be the next speaker, kevin

mccarthy. does he have 218 votes to take the gavel because i'm pretty sure nancy pelosi will get very close to that if she stays on. he didn't close to that if she stays on. he: didn't have a first yet, the republicans will have a meeting tomorrow where they will hold elections and there is talk about a more conservative, hardline member of congress, someone like andy biggs of congress, someone like andy biggs of arizona, challenging him, he should be able to win that internal and get the majority of votes there but that would show there are people within his own caucus who are not supportive of the speakership at the moment. just because you win that election, to become speaker, you have to get a majority of the entire house of representatives and if every democrat votes no, don't takes a handful of republicans breaking ranks to deny the gavel to kevin mccarthy. he knows that so they could be negotiations where he had to make concessions to some of the more conservative members, hard

right members of the republican party, in order to reassure that they will support him. hagar party, in order to reassure that they will support him. how many of those members _ they will support him. how many of those members who _ they will support him. how many of those members who would - they will support him. how many of those members who would vote i they will support him. how many of those members who would vote in l they will support him. how many of. those members who would vote in that contest are heading to mar—a—lago tomorrow? i contest are heading to mar-a-lago tomorrow? ., �* contest are heading to mar-a-lago tomorrow? . �* , contest are heading to mar-a-lago tomorrow?— tomorrow? i haven't seen the attendance — tomorrow? i haven't seen the attendance numbers, - tomorrow? i haven't seen the attendance numbers, and i tomorrow? i haven't seen the i attendance numbers, and actually that will be something that is very closely watched. who shows up out of the elected member of congress to support donald trump. does support of donald trump buzz mac they'd become a litmus test? he has already endorsed kevin mccarthy to be speaker so that helps considerably but there are other leadership posts within the republican party and in congress that are still open to challenge. will they feel compelled to also come out and endorse donald trump for president or worry that they will have donald trump working against them? it will be an interesting test of where the republican party is at this point, as far as giving donald trump and supporting donald trump after last

week's mid—term elections. supporting donald trump after last week's mid-term elections. victoria, is the tramp — week's mid-term elections. victoria, is the tramp era _ week's mid-term elections. victoria, is the tramp era over? _ week's mid-term elections. victoria, is the tramp era over? let _ week's mid-term elections. victoria, is the tramp era over? let me i week's mid-term elections. victoria, is the tramp era over? let me read i is the tramp era over? let me read you this from the wall street journal this morning. the independence in swing states may be unhappy with the direction the country is headed but they didn't test the gop enough to give them power. is it overfor trump? weill. test the gop enough to give them power. is it over for trump? well, i think a lot — power. is it over for trump? well, i think a lot of _ power. is it over for trump? well, i think a lot of people _ power. is it over for trump? well, i think a lot of people have _ power. is it over for trump? well, i think a lot of people have counted i think a lot of people have counted president — think a lot of people have counted president trump out before and been proven— president trump out before and been proven wrong, and i was proud to surfer— proven wrong, and i was proud to surfer him. — proven wrong, and i was proud to surfer him, serve in his administration for four years. surfer him, serve in his administration forfouryears. —— administration for four years. —— that— administration for four years. —— that said. — administration for four years. —— that said. i— administration forfouryears. —— that said, i agree with anthony that you will_ that said, i agree with anthony that you will have some very complicated decisions _ you will have some very complicated decisions and discussions going on over the _ decisions and discussions going on over the next couple of days and i recommend you keep your eyes on something — recommend you keep your eyes on something like chip broy from texas who is— something like chip broy from texas who is a _ something like chip broy from texas who is a member of the freedom caucus— who is a member of the freedom caucus but— who is a member of the freedom caucus but was also very willing to stand _ caucus but was also very willing to stand up— caucus but was also very willing to stand up to — caucus but was also very willing to stand up to president trump, almost had a _ stand up to president trump, almost had a primary from trump supported

candidate _ had a primary from trump supported candidate, did not this year, was rounded — candidate, did not this year, was rounded re—elected but has no allegiance to trump. yet, he is a leading _ allegiance to trump. yet, he is a leading voice in the freedom caucus. so, leading voice in the freedom caucus. so. it— leading voice in the freedom caucus. so. it is— leading voice in the freedom caucus. so. it is not— leading voice in the freedom caucus. so, it is not as as though the freedom _ so, it is not as as though the freedom caucus is the trump caucus. what _ freedom caucus is the trump caucus. what we _ freedom caucus is the trump caucus. what we will— freedom caucus is the trump caucus. what we will have coming out of these _ what we will have coming out of these conversations will be fascinating.— these conversations will be fascinating. these conversations will be fascinatina. ., �* ., ., ., fascinating. lord bilimoria, you do a lot of transatlantic _ fascinating. lord bilimoria, you do a lot of transatlantic trade, - fascinating. lord bilimoria, you do a lot of transatlantic trade, what l a lot of transatlantic trade, what did you make at the results last week? ., . , . , , did you make at the results last week? ., ., , .,, , ., week? from a stability point of view, it is _ week? from a stability point of view, it is good _ week? from a stability point of view, it is good that _ week? from a stability point of view, it is good that we - week? from a stability point of view, it is good that we now. week? from a stability point of. view, it is good that we now have week? from a stability point of- view, it is good that we now have a balance, that at least the democrats have retained the senate. in terms of the leadership going forward, that uncertainty is going to be there, will it be trump, will present biden stand again or will it be somebody else? what happens to the economy in the next two years will be absolutely crucial as the result in two years' time. but one of the things that has come out of this particular election that has been very revealing as how the young have influenced it so much, and the

young, in our discussion earlier, they do care about things like climate change, the environmental diversities, sustainability, they care about diversity and inclusion and they have had a huge influence on this vote and i think we have to look forward as to how the young will be behaving, and i think it will be behaving, and i think it will be behaving, and i think it will be at the peril of either party is to ignore them. that will be at the peril of either party is to ignore them.— is to ignore them. that is unquestionably _ is to ignore them. that is unquestionably so, i is to ignore them. that is unquestionably so, if- is to ignore them. that is unquestionably so, if you j is to ignore them. that is i unquestionably so, if you look is to ignore them. that is - unquestionably so, if you look at the results in pennsylvania, the critical one for the sanity —— the senator elect now, john fetterman, they were queueing round the block at the universities and they were voting on abortion and they were voting on abortion and they were voting on abortion and they were voting on climate change and they are two issues that republicans might have to look again at. yes. might have to look again at. yes, nevada, might have to look again at. yes, nevada. also. — might have to look again at. yes, nevada, also, nevada, _ might have to look again at. yes, nevada, also, nevada, also, i might have to look again at. yes, nevada, also, nevada, also, youth turnout _ nevada, also, nevada, also, youth turnout was — nevada, also, nevada, also, youth turnout was up, compared to the mid-term — turnout was up, compared to the mid—term election which was a democratic wave, not at least in the early— democratic wave, not at least in the early numbers comparable to a presidential election but nobody thought— presidential election but nobody thought it was going to be that way.

clearly. _ thought it was going to be that way. clearly, young voters were engaged this time _ clearly, young voters were engaged this time around because on abortion, _ this time around because on abortion, because of the environment, and it was a strategy on part— environment, and it was a strategy on part of— environment, and it was a strategy on part of the biden administration, to take _ on part of the biden administration, to take steps that might get them more _ to take steps that might get them more engaged. the student loan debt to convey— more engaged. the student loan debt to convey goodness is another one, that they— to convey goodness is another one, that they can for a mental spending bill, i_ that they can for a mental spending bill, ithink— that they can for a mental spending bill, ithinkthey that they can for a mental spending bill, i think they were doing that with the — bill, i think they were doing that with the youth vote in mind, some of the pardons— with the youth vote in mind, some of the pardons for drug offenders also geared _ the pardons for drug offenders also geared towards the younger voters, they know _ geared towards the younger voters, they know where the future of the party _ they know where the future of the party lies, — they know where the future of the party lies, and so they are taking steps _ party lies, and so they are taking steps to— party lies, and so they are taking steps to try and show that up. a lot of our viewers. _ steps to try and show that up. a lot of our viewers, victoria, _ steps to try and show that up. int of our viewers, victoria, might be wondering why we are talking about control of the lower house but it really does determine the direction of travel over the next two years, on a whole range of issues that were discussed tonight, on immigration reform which you were talking about, on climate, abortion, i'm sure there are some democrats who would like to clarify roe v wade in the constitution. —— codify roe v wade. is there any room for agreement with

democrats in the house, such that this congress could get things done? going to anthony's point, the abortion issue has now been kicked to the states so that was on the ballot for a number of states in this particular round and i agree a lot of people voted on that, that won't be an issue again, i am actually a pennsylvania voter, and i can tell you that the minutia of pennsylvania politics, it is not pleasant, but we will have decided next year, you've got to run it through to state houses, and i am pretty sure where i know that will come out, so that is not going to be an issue again. once again, present biden's illegal attempt to forgive student debt, it was held as understood constitutional today, that will not be an issue. i think everyone who voted on that should

feel betrayed because the president sold you a bill of goods which was not true, it was not constitutional, it is not going to happen. so, these issues are going to go away, and on climate, this is somewhere where we can come to an agreement. i think there is a lot of ground for everyone who wants to come to a responsible climate solution can work together on a host of different energy solutions. so, i really, you know, i am not happy about what happened on tuesday, from a personal standpoint, but from the position as an american, our democracy worked, all these predictions that we are going off to autocracy and fascism, they didn't come to pass. guess what? it still works, 250 years later. �* , ,

later. and they lost. so maybe democracy _ later. and they lost. so maybe democracy did _ later. and they lost. so maybe democracy did work. _ later. and they lost. so maybe democracy did work. anthony, | later. and they lost. so maybe i democracy did work. anthony, thank you. now, there were a lot of casualties in the 2008 crash. the biggest of them all lehman brothers. supposedly too—big—to—fail, yet it did go under, betting big on sub—prime mortgages until they went south, and then in turn so did a financial behomoth. have we just seen the crypto equivalent? ftx was the second—largest cryptocurrency exchange. worth around $32 billion. its young owner sam bankman—fried was a few months ago on the front cover of fortune magazine, billed as the nextjp morgan. last week his company collapsed. bloomberg has billed it as one of history's greatest ever destructions of wealth. felix salmon, chief financial correspondent for axiosjoins us now. goodness me, his whole fortune, $7 billion —— goodness me, his whole fortune, $7 billion -- $17 billion goodness me, his whole fortune, $7 billion —— $17 billion up in smoke. about $1 billion of investment has gone, why do we think the company

collapsed in such spectacular fashion? , , ., . i, ., , fashion? this is a crypto, things collapse in spectacular - fashion? this is a crypto, things collapse in spectacular fashion i collapse in spectacular fashion all the time, though this was bigger than most. basically, we don't know for sure but it looks like he had a hedge fund, the hedge fund lost billions of dollars, there are a lot of losses to go around in crypto because prices have come down a lot, he then used the money in his exchange ft exco customer money, to bail out the hedge fund, and then when that disappeared, there was nothing left for the customers and everything imploded so, in a sense, it was a giant ponzi scheme. but she wasn't paying off investors, he wasn't paying off investors, he wasn't paying off investors, he wasn't paying investors with high returns with money from new investors, he was just using —— are

losing money himself on his hedge fund and then using customer funds to bail out himself. what fund and then using customer funds to bail out himself.— to bail out himself. what has he said about _ to bail out himself. what has he said about it? _ to bail out himself. what has he said about it? right _ to bail out himself. what has he said about it? right now, i to bail out himself. what has he said about it? right now, he i to bail out himself. what has he i said about it? right now, he seems to be tweeting _ said about it? right now, he seems to be tweeting one _ said about it? right now, he seems to be tweeting one letter _ said about it? right now, he seems to be tweeting one letter at - said about it? right now, he seems to be tweeting one letter at a i said about it? right now, he seems to be tweeting one letter at a time | to be tweeting one letter at a time in something cryptic and stupid so, yeah, he hasn't really said anything particularly useful. he did say that he messed up, he used a slightly stronger word than messed. he is mildly contrite, let's say, but he does, you know, he hasn't admitted to committing any crimes.— to committing any crimes. right, exce -t to committing any crimes. right, except peeple — to committing any crimes. right, except people haven't _ to committing any crimes. right, except people haven't got - to committing any crimes. right, except people haven't got their l except people haven't got their money back. how big was ftx? i said at the top it was worth $36 billion, do we know who the institutional investors were?— do we know who the institutional investors were? yes, they were very bi name investors were? yes, they were very big name institutional— investors were? yes, they were very big name institutional investors, - big name institutional investors, the biggest investor be sequoia, they had invested in apple and people like that, they put in a few

hundred million dollars, he raised about $1 billion in all in that kind of equity investment. and then there were about $16 billion of funds on the exchange, people trading crypto on the exchange, about 5 billion at that got taken out, and then he stopped all withdrawals, which i guess leaves about ten or $11 billion that we assume is mostly lost. , ~ ., billion that we assume is mostly lost, , ~' ., ., ~' lost. so, this week, we have taken out of circulation _ lost. so, this week, we have taken out of circulation one _ lost. so, this week, we have taken out of circulation one of _ lost. so, this week, we have taken out of circulation one of the - out of circulation one of the biggest companies in crypto, if we did that in the banking world, there would be a run on on the banks? where does this leave cryptocurrency out what are we seeing in the market? . , out what are we seeing in the market? ., , ., , out what are we seeing in the market? . , ., , ., market? there was a big run on ftx, that is kind — market? there was a big run on ftx, that is kind of _ market? there was a big run on ftx, that is kind of what _ market? there was a big run on ftx, that is kind of what caused _ market? there was a big run on ftx, that is kind of what caused the - that is kind of what caused the problem. normally, he had very minor inflows or outflows on any given day is but he saw $5 million of outflows in the space of 72 hours after this

report came out about the problems with his hedge fund. there was a big run on ftx, other exchanges have also been seeing outflows, some exchanges have been seeing inflows, but i do think there is a general feeling that people are taking money out of crypto in general, they are selling their bitcoin and converting it back into good old—fashioned pounds and dollars and yen, so the price of those assets are pretty low right now. price of those assets are pretty low riaht now. . ., ., , right now. victoria, it is summsedly _ right now. victoria, it is summsedly a _ right now. victoria, it is supposedly a hedge - right now. victoria, it is - supposedly a hedge against inflation, crypto, except it is not. there are no regulations, it is speculation, one would presume after this that the american government is going to have to move in with regulation?— going to have to move in with reuulation? ~ ~ ., , regulation? well, i think that is ma the regulation? well, i think that is may the good — regulation? well, i think that is may the good news _ regulation? well, i think that is may the good news story - regulation? well, i think that is may the good news story here, | regulation? well, i think that is - may the good news story here, and i and less_ may the good news story here, and i and less fancy about my definition of a ponzi — and less fancy about my definition of a ponzi scheme, i think this is taking _ of a ponzi scheme, i think this is taking money out of one thing to pay another_ taking money out of one thing to pay another and — taking money out of one thing to pay another and then suddenly there was another and then suddenly there was a lack_ another and then suddenly there was a lack of— another and then suddenly there was a lack of money when people go to

-et a lack of money when people go to get their_ a lack of money when people go to get their assets back, and i think when _ get their assets back, and i think when you — get their assets back, and i think when you reveal this kind of fraudulence scheming that obviously the government needs to step in with some _ the government needs to step in with some sort_ the government needs to step in with some sort of regulation. the good news _ some sort of regulation. the good news is _ some sort of regulation. the good news is my— some sort of regulation. the good news is my understanding is that the market_ news is my understanding is that the market of— news is my understanding is that the market of crypto is a little shy of $900 _ market of crypto is a little shy of $900 billion, which is a lot of money, _ $900 billion, which is a lot of money, but i mean, us securities are at 41 trillion _ money, but i mean, us securities are at 41 trillion so this is unlikely to he — at 41 trillion so this is unlikely to he a — at 41 trillion so this is unlikely to be a spill—over into the stock market — to be a spill—over into the stock market i— to be a spill—over into the stock market. i think unlike lehman brothers. _ market. i think unlike lehman brothers, it is something that can be managed and if we listen to the wake-up— be managed and if we listen to the wake—up call from bodies that should be regulating this, pay more attention to this than the nonsense they are _ attention to this than the nonsense they are trying to manage, then i think— they are trying to manage, then i think this — they are trying to manage, then i think this will be something that we can work— think this will be something that we can work forward to manage something that is— can work forward to manage something that is going to be a huge economic force _ that is going to be a huge economic force in— that is going to be a huge economic force in the — that is going to be a huge economic force in the future. lord that is going to be a huge economic force in the future.— force in the future. lord bilimoria, it sort of reminds _ force in the future. lord bilimoria, it sort of reminds us... _ force in the future. lord bilimoria,

it sort of reminds us... elon - force in the future. lord bilimoria, it sort of reminds us... elon musk| it sort of reminds us... elon musk is taking a flame—thrower to twitter, we've got this guy losing $17 billion and we have mark zuckerberg who is better idea seems to have lost 66% of its value on the stock market this year, what is this down to? is it their arrogance as billionaires do we put too much trust in them? he billionaires do we put too much trust in them?— billionaires do we put too much trust in them? ., , ., , ., trust in them? he was actually worth $26 billion at — trust in them? he was actually worth $26 billion at his _ trust in them? he was actually worth $26 billion at his peak, _ trust in them? he was actually worth $26 billion at his peak, this - $26 billion at his peak, this 30—year—old. when are we going to learn? go back to the late 1990s, and this thing called the internet was created and there was all the hype about the internet the sake of the internet without looking at what is this going to be useful for, how is this going to be useful for, how is it going to help businesses succeed and progress in the future? and that left the dot—com bubble which was a crash of a whole lot of companies that were just based on hype, and i to run, people started to use the internet in the way that

google and facebook and all these companies, the way that all of us are using the internet for our benefit. the same is with bitcoin. block chain. where is the price of bitcoin now compared to its peak? and look at the crash. the bitcoin crypto market, the crypto market crashed to trillion dollars in may. i mean, this is pure speculation, where people are looking at technology and the hype without getting too what is it actually going to be used for? go back 20 years, we haven't learnt our lesson. tulips from amsterdam. felix, the one thing that occurred to me today when i was reading this story was el salvador. the president of el salvador. the president of el salvador invested a shed load of money in bitcoin, i don't think anybody knows exactly how much of the public finance he put into cryptocurrency but it has lost 21% of its value in two years.

presumably, el salvador�*s coffers aren't in great shape? ida. presumably, el salvador's coffers aren't in great shape?— aren't in great shape? no, el salvador— aren't in great shape? no, el salvador is _ aren't in great shape? no, el salvador is in _ aren't in great shape? no, el salvador is in in _ aren't in great shape? no, el salvador is in in terrible - aren't in great shape? no, el. salvador is in in terrible physical condition. — salvador is in in terrible physical condition, its misadventures with bitcoin— condition, its misadventures with bitcoin only making those problems worse. _ bitcoin only making those problems worse. to— bitcoin only making those problems worse, to be sure. el salvador's bitcoin— worse, to be sure. el salvador's bitcoin is— worse, to be sure. el salvador's bitcoin is down more than 21% because — bitcoin is down more than 21% because they were brought near the high _ because they were brought near the high. anyone who bought bitcoin near the high _ high. anyone who bought bitcoin near the high and watched it come down, they are _ the high and watched it come down, they are losing money and they are losing _ they are losing money and they are losing it _ they are losing money and they are losing it while putting more money in. losing it while putting more money in every— losing it while putting more money in. every time it goes down, he went to bite _ in. every time it goes down, he went to bite more. — in. every time it goes down, he went to bite more, that had to be a really— to bite more, that had to be a really had _ to bite more, that had to be a really bad idea.— to bite more, that had to be a really bad idea. sounds like an investor after _ really bad idea. sounds like an investor after my _ really bad idea. sounds like an investor after my own - really bad idea. sounds like an investor after my own heart. i really bad idea. sounds like an i investor after my own heart. felix salmon, thank you very much indeed, much appreciated. now it's time for the panel. we are going to start with lord bilimoria who was to do about the

budget this week, thursday, we will talk lots about it on the programme, but give us your thoughts and your readout from the weekend and what we have been what is coming our way. put this into context, the 8th of september, when sadly her majesty the queen passed away, until the 19th, the day of her funeral, there's ten or 11 days, the whole world looked upon the uk with such enormous respect because of this wonderful lady and her service of over seven decades, we were right up there, and then we had this mini budget on the 23rd of september and our reputation came crashing down. people were saying, what is this great country doing to itself? a month later on the 24th, we have our first asian origin prime minister, he was chancellor and he has experience of leading in crisis, we havejeremy hunt, a very successful entrepreneur who has helped to

cabinet positions, health secretary, foreign secretary, and the two of them together are going to try and put us back on a course where we have a sensible plan, where we have a credible plan that their markets respect. but here is the but. but how are you going to do that by cutting, in terms of expenses and public funding, raising taxes, then you are going to stifle the recovery and stifle growth? so how will you incentivise investment and growth and inward investment from abroad if you are just and inward investment from abroad if you arejust going and inward investment from abroad if you are just going to put up taxes and cut? the reforms that need to be done, in terms of apprenticeship, labour shortages, all these things need to be addressed in order to grow the economy, i hope they will address those as well as creating a credible plan going forward. i’iiii address those as well as creating a credible plan going forward. i’ll be credible plan going forward. i'll be in a rave credible plan going forward. i'll be in a grave trap? — credible plan going forward. i'll be in a grave trap? we _ credible plan going forward. i'll be in a grave trap? we need - credible plan going forward. i'll be in a grave trap? we need the - credible plan going forward. i'll be in a grave trap? we need the growth but we are having to institute things, highertaxes, cutting things, higher taxes, cutting investment, things, highertaxes, cutting investment, that are not going to lead to growth? —— are we in a

growth trap? lead to growth? -- are we in a growth trap?— lead to growth? -- are we in a growth trap? even after spending £400 billion _ growth trap? even after spending £400 billion saving _ growth trap? even after spending £400 billion saving our _ growth trap? even after spending| £400 billion saving our economy, growth trap? even after spending . £400 billion saving our economy, -- £400 billion saving our economy, —— 400 million. we borrowed that. we are the second lowest debt gdp in the g7. italy and france are above 100%, so we do have headroom, and by the way, these are based on forecasts, the forecasts are better, our situation will be better. there is a bit of optimism there. hat is a bit of optimism there. not much, is a bit of optimism there. not much. henry. _ is a bit of optimism there. not much, henry, but— is a bit of optimism there. not much, henry, but i _ is a bit of optimism there. not much, henry, but i do like the optimism. victoria, talk to me about john the baptist was on his to abu dhabi. ,., ., ., , ,., john the baptist was on his to abu dhabi. ., , ., i. dhabi. good to be with both of you toniuht, i dhabi. good to be with both of you tonight, i appreciated, _ dhabi. good to be with both of you tonight, i appreciated, we - dhabi. good to be with both of you tonight, i appreciated, we have . dhabi. good to be with both of you| tonight, i appreciated, we have had tonight, iappreciated, we have had an unprecedented loan of leonardo da vinci's _ an unprecedented loan of leonardo da vinci's st— an unprecedented loan of leonardo da vinci's stjohn the baptist. we're

pretty— vinci's stjohn the baptist. we're pretty sure he painted it in france around _ pretty sure he painted it in france around 1515, it was with him when he died apparently the room with a mona lisa, passed into the french royal collection, — lisa, passed into the french royal collection, and interestingly it has been _ collection, and interestingly it has been part— collection, and interestingly it has been part of a diplomatic squabble before _ been part of a diplomatic squabble before -- — been part of a diplomatic squabble before. —— to dramatic swap. it was work— before. —— to dramatic swap. it was work with— before. —— to dramatic swap. it was work with charles the first in the 17th century because the french... the french— 17th century because the french... the french had too many leonardo paintings— the french had too many leonardo paintings so they swap them out and there _ paintings so they swap them out and there were _ paintings so they swap them out and there were a whole series of other transactions that brought it back to the french— transactions that brought it back to the french collection. now it is going _ the french collection. now it is going to — the french collection. now it is going to the gulf and as a representative of western civilisation i can think of no greater— civilisation i can think of no greater one, i think is wonderful that abu — greater one, i think is wonderful that abu dhabi is this christian painting — that abu dhabi is this christian painting to the abu dhabi larouche and i hope — painting to the abu dhabi larouche and i hope that many many people go and i hope that many many people go and visit _ and i hope that many many people go and visit it— and i hope that many many people go and visit it and it is wonderful to see out— and visit it and it is wonderful to see out by— and visit it and it is wonderful to see out by this kind of role. art

diplomacy. _ see out by this kind of role. diplomacy, a see out by this kind of role. gift diplomacy, a wonderful museum in abu dhabi, i have been there. cyrus under dhabi, i have been there. cyrus cylinder 530 — dhabi, i have been there. cyrus cylinder 530 3c _ dhabi, i have been there. cyrus cylinder 530 bc has _ dhabi, i have been there. cyrus cylinder 530 bc has been - dhabi, i have been there. cyrus| cylinder 530 bc has been loaned dhabi, i have been there. cyrus cylinder 530 bc has been loaned to countries _ cylinder 530 bc has been loaned to countries like india from the british— countries like india from the british museum, so this has been done _ british museum, so this has been done with— british museum, so this has been done with much older things. thank ou both. it isa it is a one day wonder, we are stirring the weather app once again with stronger winds, low pressure giving spells of rain moving through, gales and places and after the air coming up from the south, the air coming up from the south, the exceptionally mild air last week on the weekend, the airflow in the north—west and magic is bringing colder air our way. north—west and magic is bringing colderair ourway. i north—west and magic is bringing colder air our way. i say colder, this map indicates as the woman colours leak away we are going closer to average for the time of year, we haven't seen that there

match this autumn so it will feel quite different by the end of this week. what is coming up? it will be turning colder out there but temperatures close to average and with areas of low pressure sweeping through, wet and windy at times, there could be difficult travel conditions, flooding in south wales and england as tuesday begins and that will focus shifting to scotland and they could be disruption because of the rain. all of that speeding eastwards, gales around southern and western coast and into the south and west, brighterskies western coast and into the south and west, brighter skies coming through as the afternoon goes on but with further blustery showers. low pressure anchored to the west of us, the base of the other weather system, and a low pressure is moving towards us. on wednesday, windy, especially in the northern isles we will see a few showers around, sunny spells as well, wet weather until the next low pressure system speeds in rain towards the south—west.

strengthening went once again, gales developing along the english channel codes on wednesday evening and north sea codes for a time early on thursday before the strongest winds on thursday, looking stormy for a time in shetland. around that area of low pressure, we will see some spells of persistent rain. elsewhere, to the south, the rest of england and wales, we will see some sunny spells but further blustery showers out there and again those temperatures just leaking away a degree or two day by day. friday, the area of low pressure pulls away and we were still see a few showers but it looks like a quieter day on friday, and by no means everybody will see those showers around, it is western areas that are mostly to get their man most likely internals north—west scotland as is ever the case without wind direction and some spells will only be into single figure highs. before this comes in at the weekend, as we get through friday night the metal band in the isobars, the winds falling light and

that will allow temperatures to dip away, they will be a first around in many places, saturday begins a widespread brown frost but temperatures will be lower than this in real spots as well, another sign of autumn we haven't seen too much of, that frosty start. could be fog around, next weather system edges in from the atlantic, turning things better and windy once again. ahead of that, you may state fine but it will be a chilly day with temperatures struggling to eight or 9 degrees. we could see hill snow saturday night into early sunday and the picture the next week, low pressure again they could be a deeper area again with a potential for disruptive winds. we will keep you posted on that.

tonight at ten — the deepening hunger crisis in somalia, which is enduring its worst drought in 40 years. the united nations is warning 500,000 children under five are at risk of death by the middle of next year. we meet one family dealing with the direct impact of climate change. before this last drought, dahir and his family were doing ok. they had fields and crops, they had six cows and some goats. they were middle—class farmers. suddenly, left destitute, bankrupted, by drought and by climate change. an international charity says the drought has led to the biggest movement of refugees into kenya in more than a decade.

also on the programme... the government signs a deal with france to try to stop migrants