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tv   Asia Business Report  BBC News  November 28, 2018 1:30am-1:46am GMT

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you're watching bbc news. our top story: greenhouse gas emissions reached a record high last year. a new un report says efforts to tackle climate change are way off track. it warns that global temperatures will rise to dangerous levels unless countries radically revise their targets for cutting greenhouse gases. indonesian authorities are set to release the preliminary findings into why a boeing 737—max jet plummeted into the java sea killing all 189 people on board last month. the world chess championship will be settled in london later today. two chess grandmasters, magnus carlsen of norway and the american fabiano caruana, have spent november locked in stalemate, with the world title up for grabs. a series of tie—breaking games must now be played to decide the contest. stay with us. and the top story in the uk: there has been a sharp increase in migrant boats crossing the channel to the uk. the government says the traffic is being organised by criminal gangs.
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now on bbc news, live to singapore for asia business report. trade war all its branch. donald trump's economic adviser is sick —— seek out a deal with china may be possible, asian stolid —— asian stocks follow the us. brexit impact. the bank of england will today laid out to the assessments of how britain leaving the eu will affect the uk economy. hello and welcome to asia business report. asian stocks have followed the us higher and that is after donald trump's economic adviser signalled that the deal may be possible to end the us china trade war, while beijing's response so far
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has been disappointing, it was added that there was a good possibility that there was a good possibility that an agreement could be struck. his comments come two days before the us president and china's xi jinping are set to meet at the 620 summit in argentina. 6eoffrey 6arrett from the university of pennsylvania and told me why the us is going into this meeting with such a strong hand. there are two reasons the us is in a relatively strong bargaining position. the first one is that the chinese domestic economy is that the chinese domestic economy is experiencing real wobbles, where as the uf economy looks like it is going from strength to strength. the second one is the asymmetric dependence in the relationship, simply put, china needs the us economy more than america needs the chinese economy. that does get president trump the bargaining upper hand. you are saying that
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investment, rather than trade, hand. you are saying that investment, ratherthan trade, is hand. you are saying that investment, rather than trade, is a good way of fixing this. we know that there are issues around investment, particularly chinese investment, particularly chinese investment into the us national security and other concerns, how can this be an easy fit? there is a lot to and packed here. the first thing is to say that viewing trade deficits like the win loss record of a football team is the wrong way to think about it in a modern economy. 0n the investment side, most estimates say that us multinational sales in china are twice as big as american exports to china, which is why investment is so important. if you look at trade, americans benefit from cheaper chinese products, that means imported products. you cannot fix a trade deficit overnight, the fundamental reason for us china trade deficit is that chinese people save and americans consume and in a world of global supply trade, global
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bilateral trade does not matter so much. it is understandable that trade is politically symbolic and therefore important, the underlying economics say that multinational forms and investment are more important. donald trump has said the white house is looking at cutting subsidies for general motors, that is after it announced it will close for plans in america and there are thousands of workers. in to tweet, he criticised the company for not closing facilities in mexico or china. in response, 6m said it is committed to maintaining strong manufacturing presence in the us. 0ur manufacturing presence in the us. our new york business correspondence has more from there. the president vented his frustration on twitter. he wrote that he was very disappointed and that he was looking at cutting all 6m subsidies, including full electric cars. is not
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immediately clear what specific subsidies he had in mind, or whether he would be able to follow through on his direct. some of the subsidies would require changes to the law, for which you need is the hope of legislators. 6m's decision to close factories has angered many politicians, but perhaps none more than donald trump, who has promised to bring back american manufacturing. 6eneral to bring back american manufacturing. general motors defended its decision in a statement, they said its plan was key to support our ability to invest for future growth. many of us workers impacted by these actions would be able to shift to other 6m plants. shares in general motors soared after the company made its announcement. declines in the chinese market, investors welcomed the news. donald trump's threats we re the news. donald trump's threats were enough to send the stock lower after his tweets. the economic
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impact of the uk leaving the eu has been one of the most fiercely contested brexit issues. is argue that there uk would be more prosperous outside, but remainers say the opposite is true. later today we will learn a lot more about what impact the experts at the bank of england think it will have when it publishes two different reports. 0ur it publishes two different reports. our business reporter is here. tell us more our business reporter is here. tell us more about the reports. let me start with what is known as the stress test, which sees the big —— the strength of the biggest banks. it was conducted in 2014 and the last one was published six months ago and then it declared that woes related to brexit, domestic risks remain standard overall. 0ver related to brexit, domestic risks remain standard overall. over the last six months those risks have been played out on financial market, with the pound fluctuating against the us dollar as investors try to
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work out what brexit will mean for the future of the british economy. because london is still a crucial globalfinancial because london is still a crucial global financial hub, that last report warned of growing international risk. we had issues like chinese debt levels, uncertainties in italy and the us china trade war, none of which has been resolved. we will see what the latest report says about the impact on the rest of the world. meanwhile, a separate report will also be laying out the economic impact of a range of different brexit scenarios. it may give us some ideas of how realistic it thinks that the independent 0ffice realistic it thinks that the independent office for budget responsibility was in forecasting growth of 1.6% for next year. thanks for that, we will watch those reports when they come out. an alarming new report suggests that rising levels of nearsightedness amongst children, particularly in
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asia, is set to be an issue for cause of blindness studied researchers are calling it a pandemic. myopia affects 240 million of the global population from the age of eight to 18. it is also having an economic cost. it is due toa having an economic cost. it is due to a combination of environmental and genetic factors. too much time in house, on the screen, close to the screen, reading and playing games and too little time outside. it is draining the eye on foresight. and studying too hard, which is a lot of what kids do. tell us about the economic cost of something like because governments are now investing more into institutes of the like what you are funding. the economic cost today is staggering, but to more than 200 billion in the
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world, it could run up to 700 billion by 2050. it is all about screening, taking care, contact lenses, classes and making sure that people are corrected for it. the very serious consequences such as blindness, are even more costly to society and that is where it is an economic one and a societal problem for the long—term. economic one and a societal problem for the long-term. in other news making headlines now, one that we have been reporting on, the un says global efforts to tackle climate change are way off track, as c02 emissions rate —— rose for the first time infour emissions rate —— rose for the first time in four years. national efforts to cut carbon have faulted. the study says that to meet the goals of the paris climate pact, it is crucial that global emissions peak by 2020. china has reportedly warned
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that it will retaliate in proportion, if america slapped sanctions on its top official over alleged human rights abuses. in an interview, china's ambassador to the us also said that ageing's policies in the region are to re— educate terrorist. the country has faced an outcry with activists, academics, foreign governments and human rights expert, over mass dissensions and strict surveillance of the minority and other muslim groups. in the uk, companies looking for somewhere to store extra supplies of fresh food in the run—up in march say maybe it is too late. that is the warning from the chief executive of return's food and drink federation to mps. ian wright said warehouse is across the country of frozen and chilled foods, our book out at the moment.
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—— our book out. —— are booked out. the asian markets are higher due to the us games overnight. we see a slightly weaker yen and that impacting the nikkei, because we seek export is rising because of that. and the markets were higher following those comments. we are watching the 620 closely because donald trump meet his counterpart, xijinping. that is it for the programme. this is bbc news, the top stories this hour: a new warning on climate change, as the un says global greenhouse gas emissions reached a record high in 2017. indonesian investigators prepare to release their first report into last month's lion air disaster. tributes have been paid
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to lady trumpington, one of the great characters in the house of lords, who has died at the age of 96. she worked as a code breaker during the second world war and spent nearly four decades in the upper house. john pienaar looks back at her long life. laughter always in her place in the house of lords, always the same. so lucky to be here. as david cameron said, "theyjust don't make politicians like that any more," and he meant it. wartime code—breaker, oldest woman ever to be a government minister, and even, after a long life, a youtube sensation. the grainy black—and—white photos tell of a colourful past. land girl on the farm of former pm david lloyd 6eorge, during world war two. then a member of the near legendary code—breaking team at bletchley. churchill visited us. he said, "you are the birds that laid the golden eggs, but never cackled." and that was the important thing, was that we never talked. never conventional, though.
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wife to a headmaster, one day fully clothed at the school pool... ijumped, and half the schooljumped in with me to save me. and my husband wouldn't speak to me for three weeks. why did you do it? just for the hell of it! she was made a peer in 1980, seemed proud of standing up to the iron lady, margaret thatcher. we were really good friends, but if i didn't agree with her about something, i said so. and that was very good for her. she chain—smoked her way through several 6overnment departments, and then came fame. telling her tales on prime—time tv.
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i've had to sign a piece of paper in order to be on this show to say i wasn't pregnant. laughter why the fame though? well, watch this. and then the survivors of world war two started to look pretty old as well... a tory peer suggesting she was a revered relic of world war ii, and her silent reply. that picture went viral on youtube. complimentary tributes are normal. they're not always as warm as today's forjean trumpington. hello, i'm tulsen tollet, and this is sport today, live from the bbc sport centre. coming up on this programme: holders real madrid guarantee their place in the last 16 of the champions league beating roma 2—0. yasir shah claims a stunning 14 wickets as pakistan thrash new zealand to level their test series. and big wave surfing continues in hawaii as maui's own billy kemper win the jaws challenge at pe'ahi.
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hello and welcome to the programme, where we start with champions league football with four groups playing their penultimate fixture before the knockout stage. holders real madrid are seeking a fourth consecutive title in this tournament and despite inconsistency in their domestic league form they're in pole position to finish top of group 6 after a 2—0 victory away to roma. 6areth bale and lucas vasquez goals proving enough, while elsewhere, in group e, bayern munich and ajax also guaranteed their places in the last 16 thanks to respective wins over benfica and aek athens. while manchester city are also through after twice coming from behind in lyon, sergio aguero with the second equaliser. before one game left, already in february we'll be

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