tv Asia Business Report BBC News November 6, 2018 1:30am-1:46am GMT
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campaigning reaches fever pitch in the us midterm elections. president trump and his predecessor, barak obama, have been touring the country to try to make sure their supporters go out and vote. iran says it's going to carry on selling oil, despite far—reaching economic sanctions imposed by the us. the new measures come after president trump withdrew from the iran nuclear deal. and this video is trending on bbc.com the spice girls have announced they are reuniting for theirfirst tourfor a decade. but they'll be missing one member — posh spice. victoria beckham says she's too busy to take part. stay with bbc news. and the top story in the uk: the tyre maker, michelin, has said it's closing its factory in dundee over the next two years. the site employs 845 people. now on bbc news live to singapore
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for asia business report. us midterms 2018 bash americans are set to go to the polls in what is being seen as a referendum on donald trump's first two years in power. the battle for the us congress. how the outcome could reshape global policy is for america. —— policies. welcome to the show. americans go to the polls later today in one of the most competitive mid—term elections in years. it is being seen as a referendum on president donald trump. 0ne referendum on president donald trump. one of the states with a tight senate race is indiana, a
quote
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fifth largest producer of soya beans and a huge eye and steel industry. we went to bed to find out what role it is playing in the race. the a nswer it is playing in the race. the answer might surprise you. did not mean to disturb the... for the past few weeks derek morris is the going door—to—door to convince his neighbours to vote for labour friendly candidates. 0ne neighbours to vote for labour friendly candidates. one subject has been compensated— carrots. friendly candidates. one subject has been compensated— carrotsm friendly candidates. one subject has been compensated- carrots. it is helping some and hurting others. at the end of the day, it is not about substance. he's not the only one struggling to figure out where a trade fit in the battle. this farmer has only sold half his soy harvest after demand dried up due to a trade war between the us and china.
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after demand dried up due to a trade war between the us and chinam after demand dried up due to a trade war between the us and china. it has affected us financially. at this point, i have not sold everything yet. there is still time for the prizes to go back up. a farmer is a lwa ys prizes to go back up. a farmer is always optimistic. although indian is heavily reliant on agriculture and manufacturing, tariffs have yet to really be felt economically. which is why voters have chosen to focus on other issues. i do not think tariffs are going to have much to do with voter decisions. maybe 1% might think about it. they will be thinking about immigration, the hot button social issues. that has meant that most have turned their attention instead to how they feel about the president, with some queueing hoursjust to about the president, with some queueing hours just to sit president trump speak. 0ur terrace something you care about? not really. i think
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he has the right idea. thankfully, i not ina he has the right idea. thankfully, i not in a situation where most of that stuff fx me. i think the president is doing the right thing. as with most close races, president trump is at the centre of the election but it is not because of his impact on the estate's main industry. with the booming economy of punting the pain from tariffs, in indiana this fight has become more ofa indiana this fight has become more of a referendum on president trump's personality as opposed to his policies. later this month, president trump is expected to meet his chinese counterpart xi jinping on the sidelines of the g20 summit. the hope is that they can hammer out some sort of deal to sort the ongoing trade war between the world ‘s two largest economies. given both sides have dug in their heels, is
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compromise that likely? kevin rudd, a former austrian prime minister joined me. they think we have got to a stage where the structural factors, namely the relative size of the chinese economy, china's military capability growing and deployed more globally, plus of the intrinsic dynamic to the trade war which is about fair all unfair trade structures. the american side, they have decided the previous rules of the came no longer apply and they have the false strategic engagement and strategic competition. of course, the chinese are reaction is somewhat different. what is it that reaction exactly, prime minister, the cossie have worked closely with the cossie have worked closely with the chinese in your capacity as prime minister and a fluid mandarin speaker. china also has its domestic
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politics therefore, when the united states attacks china, as it has done in recent statements by vice president p, the reaction in china rose and becomes more intense. the other part of the chinese mind is deeply red magic and would like to see an economic deal done. —— pragmatic. china's domestic economy in myjudgement is a slamming and has been the most of this year. a range of factors concerning the health of private firms, competitive space, deleveraging campaign affecting credit to individual entrepreneurs and now the trade war as the icing on the cake, say the rationally would like to strike a deal to resolve the trade war come
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the meeting between xijinping and president trump in one —— in brazil. some suggest they have lost touch with the american counterparts and, given how long it has lasted, we know by january nearly all of china's exports to the us will face car is. does china have any leveraged at this point?|j car is. does china have any leveraged at this point? i think it is important to understand bassline interest in both cases. we talked about what china's is, which is it does not want a further slowing of its domestic growth because it is a bad for domestic politics as well but at the american side, i think president trump, the master of the art of the deal, is mindful that what happens with an unconstrained trade war between the two largest
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economies and its global macro economic impact not just economies and its global macro economic impact notjust on global trade float a real economic growth as well. at present, to feed through to the domestic economy may be slight but the impact on inflation in the us, if you have a 25% tariff on all chinese imports into the country and its impact on the trump voter base fruit next year and the year after, that i think creates a factor in the back of president trump's mind to try and seek a deal if you can possibly do so. former australian prime minister kevin rudd. as the trade war rages on, companies are beginning to look for ways to ease disruption to the global supply chain. some say technology has prompted two big trends in our companies make their products around the world. there are fundamental changes that and trends
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in the market. on the one hand, a reassuring because of the new technologies that you see that enable also higher labour costs countries to bring back production and on the other side, if you look at asia, a general trend independent of the macro production moving out of the macro production moving out of china and into asean. probably they can be propelled the fundamentals are independent of this. a lot of manufacturing shifting from china to asean but can they keep up with china? particularly the made in china 2025? in the end for asean the challenge will be to upscale the people because this is the biggest challenge for all these countries.
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technology is there but you need to upscale the people because only the combination of people and technology will have an impact for countries and for corporations. alibaba's founder had some strong words about the us — china trade war. he made the us — china trade war. he made the comments in shanghai. it recently took back an earlier pledge to create more than a million jobs in the us because of the tradable launched by president trump. trade war is the most stupid thing in this world. trade is to have peace, to communicate. there would be no trade deficit issue in the next two years because of technology. that is what he thinks about the tradable. let's look at the trade markets. they are
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high. most investors taking her wait and see attitude towards the us midterms. awaiting the results. we also saw resources stocks doing well with oil prices rising after sanctions reinstated against iran and stop after the fourth fatal stabbing in london in less than a week the city's mayor has warned in less than a week the city's mayor has warned it could take a decade to bring knife crime under control. in the past week two men and and two teenage boys have been stabbed to death. the rise in violent crime has
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provoked a new debate about cuts in police numbers in england and wales. here's our home editor mark easton hundreds of extra police are on the streets of the capital tonight as officers respond to a wave of deadly stabbings thought to be driven by drug gangs. this arrest in a graveyard is connected to the latest killing in croydon. tragically we've had four murders since the middle of last week across a number of boroughs, none of them connected. and each and every one of those tragic murders affects families, it affects friends and acquaintances, and i can't imagine the emotions and the distress they must be going through. my heart does go out to them. london's gangs have changed. where once it was largely about territory and tribes, now it's about drugs and profits. they are organised, business driven, secretive and ruthless. these men are on the way to a murder. a conventional map of london shows borough boundaries and familiar neighbourhoods, but there is another hidden map of gang alliances and rivalries. in waltham forest for instance academics have plotted the territories of 12 gangs including a new alliance of the established beaumont crew with the feared mali boys, a secretive gang thought to be
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headed by men of somali origin. at the centre of their territory is vallentin road. vallentin road been described as the most violent street in britain with over 100 serious crimes, including two murders, recorded by the police here injust the last two years alone. this is the unlikely front line in a turf war between organised crime gangs wanting control of lucrative drug markets. we have had this significant shift away from it being about respect and grudges between pockets of young people, and into something that's more closely related to very, very organised networks of people supplying drugs on the street and being very, very focused on money and seeking to be more underground. the murder of 20—year—old lewis elwin, stabbed to death outside a south—west london primary school in 2016,
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has never been solved. tonight in clapham, a vigil at the spot where 17—year—old malcolm mide—madariola was stabbed to death last friday afternoon. two teenage boys have been arrested. but few believe we can arrest our way to beating criminal gangs who are becoming more sophisticated and more callous. mark easton, bbc news, london. more on the midterms in the us but first it is sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: rafael nadal withdraws from next weeks season ending atp finals in london due to ankle surgery. jurgen klopp leaves xherdan shaqiri out of his liverpool squad for the trip to red star belgrade to avoid any distractions. and the race that stops the nation
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will be run in wet conditions after heavy morning downpours in melbourne. hello and welcome to the programme, where we start with the tennis news that rafael nadal will miss next week's season ending atp finals in london after having an operation on an ankle injury. nadal pulled out of the paris masters with a stomach muscle problem leaving novak djokovic to replace him as world number one. the spaniard said that as he was suffering with an injury he would take advantage of the moment and have an operation on his ankle as well which means he's replaced in london by american john isner. he has been troubled, on and off, although not in a serious way, by his ankle.
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