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tv   Asia Business Report  BBC News  October 17, 2019 1:30am-1:46am BST

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our top story: a brexit deal hangs in the balance with negotiators are still hard at work in brussels. a finalised brexit deal has still to be secured, but officials are said to have agreed the basis of a new arrangement. eu leaders are holding a summit on thursday. a letter from donald trump warning turkey's president erdogan "not to be a tough guy" emerges, as the us house of representatives votes overwhelmingly to condemn mr trump's decision to withdraw american forces from syria. and this story is trending on bbc.com actress, jennifer aniston, has taken instagram by storm, attracting a massive five million followers injust 12 hours with her first ever instagram post — a reunion selfie with her friends co—stars. that's all. stay with bbc world news. and you can find more
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on all the stories on our website or download the bbc news app. now on bbc news live to singapore for asia business report. no brexit deal tonight. the future of international trading relationships hang in the balance as talks continue in brussels. india's telecommunication walls as they face of end of the biggest telecommunications market. good morning, asia, hello, world. it is thursday and glad you could join us. let's kick off the programme with brexit because, as the uk and eu officials attempt to hammer out an
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agreement, the message from the british government was there was no deal tonight. they were hoping to signoff on a revised deal before thursday's crunch summit meeting in the eu. the special relationship with the us they were hoping would mean more favourable terms when it came to trade. the comments come from a former us trade achieve who said that new american terrace on a uk exports are set to come into force on friday. in this case, the uk is not being targeted unfairly. there will be tariffs on french and german products and other products as well just german products and other products as welljust because we have a special relationship, is not mean that we are going to sacrifice our economic interest in the context of a trade dispute or trade negotiation and that applies to whatever you trade agreement. it might be
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desirable to have one but it does not make it any easier to reconcile differences. hopes is an ideal brexit can be avoided. ——no deal. differences. hopes is an ideal brexit can be avoided. ——no dealm feels like a sea change. i am more positive and the noise coming out of brussels indicates there is a deal in the making. secondly, we know there is some kind of compromise being cooked up on northern ireland which is at the big issue. thirdly, i think the word out of number 10 is that boris johnson i think the word out of number 10 is that borisjohnson is prepared to go along with the so—called benn act. and will request an extension which could be beyond october 31. as to whether the eu will make it a long extension i do not know but it is overwhelmingly in everyone's interest to have a trade deal. there
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is one overwhelming obstacle which, evenif is one overwhelming obstacle which, even if he can come up with the deal, remember theresa may was defeated several times in the house of commons, is can he get the votes that... of commons, is can he get the votes that. . . and of commons, is can he get the votes that... and the pound continues to rally. the pound has improved significantly. it took a step back last night because there was an expectation that the deal would actually be done at the general trend is positive and the general mood is positive. high-level talks set to resume as the us and china attempt to strike a deal before the apec summit next month in chiller. some companies have now moved operations out of the people's republic to avoid tariffs. ——in chile. but the shift may have been under way even before then. we have seen for the last decade or so manufacturing come out of china,
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even before this us china tradable, costs are rising in china. electricity, labour costs, you name it. so slowly companies new they needed other manufacturing locations. i think the fundamentals in many african countries, not all of them, but many of them are strong and many benefit from the fact that they have tariff free access to the us market and some of them have actually invested in the infrastructure such that manufacturing firms can go there and really be plugged in play. ethiopian would be an example of a country with a lot of industrial part over the last decade. i think it will not be tomorrow but anything next generation, there is the potential for africa to become the next factory of the world. africa, ethiopian, will be key manufacturing
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hubs going forward. what about southeast asia? isn't it also a big winner with the ongoing us— china while, particularly vietnam ? winner with the ongoing us— china while, particularly vietnam? 5096 growth in vietnam so you see chinese companies looking all over the world, not just companies looking all over the world, notjust in africa, including in places like southeast asia, for foreign direct investment. in mexico, it also rose. in terms of stability, monetary policy, investing in infrastructure, this country is really have a chance to ta ke country is really have a chance to take advantage of this moment to jumpstart their development. it is about the fundamentals being in place, not about region. funds loads
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come with harsh austerity measures which have led to unrest by countries like ukraine and argentina have had little choice but to turn to the imf. we find out if the loans are worth the trouble. while, annexation and years of corruption have left ukraine in the financial trouble. the country needs money to stabilise its economy that it is asking the imf for a stabilise its economy that it is asking the imffor a loan. translation: imf programmes send a positive signal to investors. the funds we are receiving our mostly used for extra funding for financial institutions and private investors. this gives us the opportunity to balance the the calendar. but money from the imf comes with strings attached. protests in ecuador have continued for more than a week after the imf demanded strict austerity
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measures in return for a $4.2 billion loan. similar scenes have played out more than once in argentina, a country saddled with billions of dollars of debt and of the largest cash infusion from the imf. countries that are in financial difficulty often come to the imf as the lender of last resort but the money comes at a cost and it is often the people on the ground that other ones to suffer the most so are imf loans worth it? the countries that come and us the imf for help are simply looking into the abyss of are simply looking into the abyss of a financial crisis. and a deep recession, if not a long—term depression. so it is painful to get into a crisis and it is then that you come to the imf. by the time a country is at the mercy of the imf, the options a few. impose austerity
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measures or risk complete financial collapse. india has wrapped up its annual mobile congress. but there are many unanswered questions this year about how far one way will be allowed to get involved in the 5g network. —— huawei. india is only second to china with a a drop in charges, millions more are expected to get mobile phones over the next few years. headlines were dominated by the absence of the two big giants, asia's richest man and add tell. both companies are currently locked in a battle with each other as well as the government over who
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should be paying for the charges made to rival networks. competition has been fed since 2016, with cost—effective data plans and freckles introduced. also 5g in the talks. india is likely to set up its option of 5g spectrum and telecom operators have raised concerns that expenses are greater than other countries. the government has made some assurances, saying countries. the government has made some assurances, saying they are likely to have a relook at the reserve prices ahead of the auction. the other big headline is huawei and the role it is likely to play in the sg the role it is likely to play in the 5g space in india. the chinese telecom giant made its presence felt at the congress, saying it could add value to the indian market and that it wants to set up manufacturing here in the country. before we go,
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look at the asia—pacific market which is open for trading. it is moving sideways. basically it mirrors us stocks following disappointing us sales numbers, retail sales numbers. and the state of us, china trade relations. the snp also indicative territory. the nasdaq the biggest loser. thank you for investing your time with us. sport today is coming up next. this is bbc news the top stories this hour: frantic efforts are still underway to reach a last—minute brexit deal on the eve of a eu summit in brussels. the us house of representatives has voted overwhelmingly to condemn president trump's decision to withdraw american forces for north—eastern syria.
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president trump has told reporters it was borisjohnson's idea to engineer a meeting between harry dunn's parents and the american woman accused of causing his death. the 19 year—old died when his motorbike collided with a car in northamptonshire last august. the woman left the uk for the united states claiming diplomatic immunity. the teenager's parents said they were pleased to be invited to the white house but said they felt ambushed when the president suggested anne sacoolasjoin them as our correspondent duncan kennedy reports. from new york to washington, this was the moment harry dunn's family found themselves heading to the white house. but, as soon as they went inside, donald trump revealed his surprise. he said the woman involved in harry's crash was in the room next door and wanted to meet them. it didn't seem right.
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they say they were stunned, and refused. he clearly wanted us to, you know, have that meeting, to try and bring some healing, i think, was how he put it. but, you know, it's — we haven't begun to grieve yet. some have described the whole idea of bringing her into the oval office as a bit of a stunt by the president. all of a sudden, you're sat in front of the president of the united states, and he's trying to do something, and you've got your own things where we wanted to do things our own way. it's quite — to try and steady yourself and think about what you're going to answer, it's quite difficult. but lawyers for anne sacoolas said tonight she was disappointed the meeting in the white house did not go ahead. it was her car that hit harry dunn in august, after she drove on the wrong side of the road in northamptonshire. on american television today, harry's parents again refused to demonise mrs sacoolas.
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they say they want justice, not revenge. president trump said today that borisjohnson had asked him to set up the meeting between the two families. but later, downing street clarified that, saying the prime minister had simply asked the white house to help. for harry's family, the only meeting they want is back in britain — their home, their loss. duncan kennedy, bbc news, new york. that is it from me. you can reach me on twitter — i'm @ lvaughanjones. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: el clasico on the move. protests in barcelona see la liga ask to change the location for the barcelona versus real madrid match. the history makers. the washington nationals are heading to the world series
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for the first time. south africa prepare for their battle with the brave blossoms in the world cup quarter—finals we start with football, and the news from spain, where la liga have requested that the first clasico of the season should be moved because of fears of civil unrest. champions barcelona are due to host rivals real madrid at the camp nou on saturday 26 october, but there have been protests in catalonia since nine separatist leaders were jailed for sedition on monday. police and demonstrators have clashed in barcelona this wednesday, and officials at la liga want the game to be moved to madrid's estadio bernabeu... i think it makes sense the decision la liga has taken. now it remains to be seen whether barcelona agree. the situation is unusual in catalonia. no—one knows what really happened,
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because many demonstrations are

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