that's the question which keeps the british currency volatile. and the last of the nobels the prize for economics goes to 3 economists from india europe and the u.s. for their work on eradicating poverty will have a closer look at the street already it's. business asia in berlin good to have you with us china wants further talks to hammer out the details off a phase one trade deal agreed by u.s. and chinese negotiators on friday bloomberg news reports this beijing may send a delegation to finalize a written deal that could be signed by u.s. president trump and chinese president xi jinping at the asia pacific economic cooperation summit next month in chile there are reports china wants trump to also scrap a plant tariff in december in addition to the hike scheduled for this week. but this comes as a fresh data from china shows just how much the trade war weighs on its economy

china's imports and exports fell by more than analysts expected in september official government data showed flagging demand at home and abroad weighing on the world's 2nd largest economy the news from china customs isn't rosy. dryness foreign trade has shrunk more than the experts expected. you know you're going in september trying to total import and export value was $2.00 trillion you won a decrease of 3.3 percent exports were $1.00 trillion yuan a decrease of 0.7 percent and imports decreased by 6.2 percent. u.s. punitive tariffs continue to hit the chinese economy hard fewer and fewer goods are being shipped to the u.s. in september alone chinese exports to the u.s. fell by over 20 percent compared to the same month last year imports slumped by

over 15 percent the u.s. is increasingly losing its importance as a trading partner for china in the 1st 9 months of the year the european union continue to be one of the most important trading partners for china with a trade volume of $510000000000.00 u.s. dollars the association of southeast asian nations came in 2nd with a trade volume of $440000000000.00 u.s. dollars that puts the u.s. in 3rd place with $370000000000.00 both sides are trying to alleviate a serious affects of the trade dispute on their economies by returning to negotiations last friday to be agreed upon the 1st partial settlements in the trade disappeared. after more i'm joined by fred beamish chief economist at pantheon macroeconomics in newcastle thank you so much for joining us now china reportedly wants further talks now to discuss the details of the so-called face one deal

agreed last friday what's beijing hoping to achieve. yeah it's not that surprising to me that they're still asking for further talks the chinese side has every incentive now to try to just drag things out and don't tell mr trump but spin him along though those year over year numbers probably slightly overstate just how grim the trade situation is in china we're seeing some stabilization at the margins but it is a very weak economy that the chinese authorities are dealing with the same is true however of the u.s. economy at least in terms of the outlook we are looking at quite a grinding slowdown for for the u.s. and it is as a result of those tariffs that mr trump has has put on obviously you're not going to admit that both sides are suffering from these tariffs so i think the chinese side very much they're very much looked looking to try to avoid this hike in tariffs that slate the pencilled in for december and they'll do that by trying to spin out this phase one process the u.s.

side i think they're probably looking much more to try to get a deal to sign that comprehensive deal because of the political calendar but the chinese side i don't see them wanting to give mr trump that kind of a win and i think they probably see this stimulus that they've done is still in the pipeline and they're looking to a recovery regardless 5 of of the tire of being removed or not in the beginning of next year but they certainly don't want that terrified in december what you're explaining right now seems to be the perfect example for what's being said about china that for them it's politics before business does this stand in the way of the deal. i think it does is a she is the short answer i think that the economic side of things can't be put to the side although i have to say that as an economist but the economic side of things is very important to the chinese communist party they can't afford to see the labor market just deteriorating and not be seen to be doing anything to try to

stabilize the economy so i do think we'll see some more domestic stimulus but they certainly are much more focused on or the priorities are much more focused on those political issues trying to prevent the troubles in hong kong from spilling over to the mainland and one of the ways that they've done that is to is to really pin those troubles in on hong kong on the so-called black hands went right which they mean u.s. operatives in hong kong to prevent that from spilling over so for them to then kind of be seen to get into bed with mr trump or not on a comprehensive deal and we shake my hand like liles is quite difficult ok. economist said panton macroeconomics thank you so much for your time thank another country feeling the pain of the us china trade war is the southeast asian financial hop that is singapore which has east monetary policy for the 1st time in more than

3 years the export reliant economy narrowly avoided recession in the 3rd quarter the monetary authority of singapore will allow the local dollars who we can slightly singapore uses its currency to manage monetary policy rather than interest rates central banks around the world and loosening policy as fierce amount of global economic slowdown. the british pound slumped slightly on monday against the us dollar and the euro following its gains on friday the decline came after the european union demanded more concessions on the government's brics its proposals leading to less certainty that a deal will be done. or is johnson and your leaders face a tumultuous week of reckoning that could decide whether the divorce is orderly acrimonious or delayed yet again on friday the pound surged to a 5 month high against the euro on hopes of a brics a breakthrough but as e.u. ministers met in luxembourg uncertainty again dragged the british currently down

one percent against the dollar and an even bigger slump against the euro. i think it was so low last week that any sign of progress over a probable talken breakdown in acrimony really caused that big round about as reality sets in and there's no awareness that there is much more to be done to make even the limits to progress toward a new british prime minister barak johnson says he wants to strike a deal at an e.u. summit this week to allow an orderly departure october 31st but if an agreement is not possible he'll leave the united kingdom out of a bloc without a deal even though parliament has park a law saying he can't do that or. the 29000 nobel prize for economics has been awarded to jointly to banner g s to do floor and michael kramer for their pioneering studies on poverty between you were awarded the prize for their experimental work in alleviating global poverty. and to do floor where at

massachusetts institute of technology and screamo works at harvard in the united states the economics prize is technically not a nobel prize as such it was 1st ordered in 1969 by the swedish central bank as an add on to the other nobel prizes economics prize wraps up a noble season that so far had only seen one female laureates. and that's changed but not it was my colleague rob watts who who kindly joins me in the studio to tell us a little bit more 1st of all about those 3 winners what did they do yes to flow which is but a j. and michael kramer of all been awarded for what it was phrased as their experimental approach to alleviating global poverty the key phrase there is experimental approach because what this trio have done that others in the field

have not done is carry out field experiments with some of the 700. 100000000 people worldwide who are living in extreme poverty they've gone to these different parts of the world and done experiments to see directly how public policy affects those people so try to make it less a case of number crunching when it comes to coming up with ways to alleviate poverty but actually basing it on the real experiences of those people so a real hands on approach as opposed to pure science in an ivory tower and now we have to talk about the woman there because it's this chaos what does this tell us well yeah i mean this is a understatement i mean so we have less to do flow today becoming only the 2nd economics nobel laureate to have been 84 nobel laureates in a calm in economics over the past 50 years 2 of those have been women so for every woman there are you know 42 men getting this award. i think it's fair to say that

that's not great figures it doesn't look great so they'll be pleased to have at least added one more woman to this time around. she she has spoken she did a little q. and a after the announcement was made and she says that her receiving this award today shows that it is possible for a woman to succeed and also to be recognized for that success and she hopes that she can inspire more women working in economics and what about the prize i already mentioned that it's not strictly speaking a typical no bella prize but there's something very special this year yes as i mentioned it started in 1969 says the 50th anniversary this year and you think oh hold on i thought the nobel prizes were much older than that and they are as you mentioned this is not one of the original nobel prizes that were set out by nobel in his will some 120 years ago this one has been added on and it is controversial for the reason that unlike the of the nobel prizes which are generally for science

as always we also have literature of peace as well. but the economics prize very much treated as a science prize however even those working within the economics field admit that it's not really a precise science and actually elevating it to that could do more harm than good all right drop what did i mean business thank you so much for filling us in on. so now that we've heard everything about the latest nobel prize 29000 it's time to wrap up business asia for now thanks from me and the team him berlin thanks for keeping us company.

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to be curious minds. do it yourself networkers. so subscribe don't miss out. on. this is g.w. news live from berlin and turkey advances deeper into northern syria and its deployment against the kurds but kurdish leaders have sealed the deal with syria's government to cooperate in halting the turkish offensive that is as the kurds former ally the united states withdraws from its conflicts are also coming up. the space supreme court hands long prison sentences to counsel and separatist leaders

for holding a referendum on independence the former head of the catholic government calls the sentence the.