tv Asia Business Report BBC News September 17, 2018 1:30am-1:46am BST
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typhoon mangkhutv batters china's most populous province of guangdong, after wreaking havoc in the philippines and hong kong. at least two and a half million people have been moved out of the typhoon‘s path. in nearby hainan province, chinese authorities have cancelled flights and closed all coastal resorts and schools. the authorities in the us state of north carolina are warning of a "rising risk to life" from after record amounts of rainfall were dropped by storm florence. and this story is popular at bbc.com. a five—year study claims there's no benefit to healthy elderly people taking aspirin to help guard against heart attack or strokes. it says it could actually increase their risk of potentially fatal internal bleeding or cancer. that's all. stay with bbc world news. and the top story in the uk: michael gove has said a future prime minister could choose to alter the relationship between the uk and the eu after brexit. the environment secretary backed theresa may's current strategy as the right one "for now." now on bbc news, live to singapore
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for asia business report. is the trade war between the us and china about to get worse? and from prison back to politics, we hear from malaysia's leader in waiting, how the trade war is likely to affect the region. welcome to asia business report. the trade war between the world's two biggest economies will likely get worse this week. president trump is reportedly announcing new tariffs on about $200 billion worth of chinese imports as early as today and if that happens, beijing may decline to participate
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in proposed trade talks with the us president. president trump likes to boast he is winning the trade war, but according to the american chamber of commerce in china, these ta riffs chamber of commerce in china, these tariffs are hurting us companies more than chinese companies. a survey last week showed that nearly 6% of american firms in china would consider moving back to the us, despite tax incentives back home. us companies do not think that tariffs is the best way to address the lopsided economic relationship. however, we asked our companies, what do you want us companies to do for you? the number one and so was to level the playing field. —— cancer. —— answer. the second ends was promote an economic relationship with china
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based on fairness and reciprocal treatment. that is what the us administration is doing. —— answer. is it the best way, maybe not. but they have a sense, we are talking to they have a sense, we are talking to the chinese, they are serious, they don't want a trade war, any more than most of us us companies. sol think that we might be going in the right direction. after that dollar for dollar, it gets to a point where china doesn't have much in the way of american goods to retaliate. what are some of the things that china could do to make life difficult for american companies and are you already seeing it? holding up certifications, extra inspections at a factory, looking very carefully at your tax records for the last five yea rs, your tax records for the last five years, holding something in customs until it rocks and then you can send it back to america. frankly, the chinese authorities understand that
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american investment here has been very helpful for developing the economy. they still want foreign investment, even though china is a rich country now. so china says it is doing that, it is opening up its markets, it is giving more access, they feel that they are trying to level the playing field. what would your response beta that?” level the playing field. what would your response beta that? i think that the openings suggesting recently a re that the openings suggesting recently are a good start. —— been to that. a market can open, officially, and yet there are still barriers. yes, we are opening up this market for you but you need to get a certificate to do business and thatis get a certificate to do business and that is a whole mother issue. —— another. —— ‘nother. this has been a problem for china
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for basically the last 30 years. and is investigating claims that its employees accepted bribes in exchange for leaking confidential sales data. independent sellers were also allowed to delete negative reviews and restore band accounts for payments between 80 and $2000, according to allegations in the wall streetjournal. they said the practice was particulate pronounced in china. amazon said it has zero tolerance for abuse for its systems and was conducting a thorough investigation. it is monday, let's ta ke investigation. it is monday, let's take a look at the important business and economic events we are watching this week. later today fedex are reporting their quarterly earnings, important to see whether the us china trade war has had any impact. 0n the us china trade war has had any impact. on tuesday will, we will get an insight into the hottest housing markets in the region, australia releasing second—quarter process. the central bank injapan is meeting
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to decide on interest rates. shinzo abe a wage in last week, saying that the chip —— the bank ofjapan's ultra loose monetary policy shouldn't last forever. 0n ultra loose monetary policy shouldn't last forever. on thursday japan is releasing its trade data for the month of august. earlier i gotan for the month of august. earlier i got an insight. us companies will be impacted and of course, fedex is at the heart of all of this. we have to remember that about 70% of trade is linked to multinational companies, who of course, that will have an impact. i think from the most recent wave of potential announcements on the $200 billion, that to a certain extent the $200 billion, that to a certain exte nt ha d the $200 billion, that to a certain extent had been flagged. what president trump is talking about following that is potentially another $267 billion which we will have two c is more of a threat than a reality. but really disruptive. let's run through the alert —— the
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other stuff. australia's housing, one of the world ‘s riskiest markets, what is the impact there? the property market has been really reflecting the health of the economy, which has been boosted commodity prices as well as generally trade with china. china is australia's first trade partner and changes of regulations recently around capital gains tax and the ability to deduct losses between rental and mortgages from your taxes, that is creating some potential weakness in the market. very quickly, let's take a look at japan, a country that suffered from deflation from years and now that prime minister is saying that the loose monetary policy may go, what effect will that have? so, japan is
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gdp export to gdp, about 20%. so relatively open, but not that open. the key thing i see as positive clearly has been impacted by natural disaster, trade, import growth slower than export growth. but the key story about japan is the uptick that we are seeing in economic equity and the transformation that is happening, particularly around a iand is happening, particularly around a i and robotics. this is a long—term trend, but i think that is what we have to watch for, forjapanese companies. as a have been reporting on newsday, this man, malaysia's anwar ibrahim is back, getting ready to contest a parliamentary seat in malaysia, head of eventually being installed it is nemesis. but the government has a lot to do, to trace the funds siphoned off and help
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malaysia redevelop its appeal. i caught up with anwar ibrahim on the sidelines of an investment summit and asked him what worries him most. it is not too reassuring, there is a spat between the us and china, mainly due to provocation by the united states. but then the region generally suffers. i believe the economic issues should remain in focus, but we should ensure that malaysia continues to have excellent bilateral relations with our neighbours, including china, and continue our good trade and investment policies with the united states, europe, india, et cetera. with this new governmentjust finding its feet, there is a sense
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that a lot of the problems need to be cleaned up and foreign investors are watching and waiting, wondering when would be a good time to invest in malaysia. what you have to say to them? we position our business is a lot within the region, this means businesses in singapore and on kong. we view this positively. we want to strengthen the institution ‘s government, we want to make sure that in doing business is more transparent. this game of commissions, this must end. but it it means there will be fast tracked approvals. we except the fact that malaysia emerged as a vibrant economy in the 90s due to its ability to attract foreign investment. let's take a quick look
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at those markets before we go. a reminder that the nikkei is shut for a public holiday but those are fridays gains, a seven—month high, on the back of a watt of stagflation that us and china make it up their differences over trade. more worries now that president trump has said that he may slap an additional $200 billion worth of tariffs on chinese goods and that will make investors here very nervous. they did on wall street, it ended flat and the all 0rdinaries in australia is flat as well. that is it for this edition of asia business report. thank you for watching. this is bbc news. the top stories this hour: deadly typhoon mangkhut batters china's most populous province of guangdong, after wreaking havoc in the philippines and hong kong. from bitter enemies to political allies, malaysia's anwar ibrahim tells newsday he's building bridges with prime minister mahathir mohamad for the good of the country.
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the scottish tory leader ruth davidson has said she never wants to be prime minister because she values her "mental health too much". in an interview with the sunday times, she's revealed struggling with self—harm, suicidal thoughts and depression in the past. steven godden has more. ruth davidson doesn't fit the traditional conservative mould. never one to avoid a camera, her upbeat, energetic persona helped restore what some thought was lost forever, success with scottish voters. today, she took an unusual step for a politician, revealing her private struggles with her mental health. in a sunday times interview, she describes going into a tailspin as a teenager. diagnosed with clinical depression, she was given medication which led to "desperate, dark, terrible dreams". i think it's very brave for any politician, leader,
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to come out and speak about their own struggles with a mental health problem, because the reality is that, especially in politics, mental health is still seen by many as a weakness. in ruth davidson's edinburgh constituency, these students we spoke to agree that everyone, regardless of who they are, should be involved in the conversation about mental health. it's definitely something that lots of young people are going through, and having someone like her talk about it, it can only be a good thing. if everybody's open about it, it will help other people that are struggling come out. ruth davidson says she values her mental health too much to ever want to become prime minister, a role some have tipped herfor. on friday, she again offered her well rehearsed answer about moving to westminster. myjob's here in scotland. i want to retain my seat in edinburgh central in 2021. i want to be the next first minister of scotland. the first conservative first minister of scotland.
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that's always been my aim. her other big job, she says, is becoming a mother later in the year. ultimately, voters will decide if she achieved her goal of becoming scotland's first minister. her political ambitions, we've now learned, shaped in part by her own personal struggles. steven godden, bbc news, edinburgh. if you have been affected by any of the issues raised by that report, you can find more information and support at bbc.co.uk/actionline don't forget you can reach us on twitter. i'm @babitabbc. now on bbc news, sport today. hello, i'm chetan pathak and this is sport today, live from the bbc sport centre. coming up on this programme — not once but twice, cristiano ronaldo scores his first
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goals forjuventus in an eventful match in italy. looking unstoppable, lewis hamilton cruises to victory at the singapore grand prix. and simon yates wins the vuelta a espana to complete a clean sweep for british riders in this yea r‘s grand tours. welcome to the programme. it was worth the wait forjuventus fans as cristiano ronaldo opened his goalscoring account for the italian champions — scoring twice in a 2—1 win over sassuolo which ensures their 100 percent start to the season. ronaldo hadn't scored in his first three games since his move from real madrid but tapped in shortly after half—time. he scored another after 65 minutes. however, ronaldo's moment might be overshadowed by what his teammate douglas costa got up to.
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