but we're also growing in asia taiwan korea and japan everywhere that small through it's our starting up and brewing beer creation of. the i team here. but before getting to that stage the grain whether barley wheat or ronnie must 1st be turned into malt to do this it is so cursed several days then it's dried at high temperature light or dark sweet or bitter every malt is different but it's the crucial element in giving beer its color and aroma. just feel good it's made. this year one taste like a strong roasted this press so perhaps with a hint of dark chocolate is that it's not to then of course there are also most of the tastes like dried fruit and raisins or have a bread like character. you know so whatever taste direction you want your beer to have. a fight or in the 1980 s. and ninety's the major beer firms didn't want specialty molds they wanted it mass produced those were difficult times for the malthouse but via a month focused on the niche marc. it and persevered. the southern german town of bamberg regards itself as the capital of beer and it has a lot of breweries it's a c

the asia—pacific markets from japan, korea, taiwan, singapore and australia are all retreating and signsf weed earnings in europe, and increased us china trade warfears in europe, and increased us china trade war fears could push the global economy into a recession. hong kong's index is also slipping today as retail sales in august plunged to his lowest on record as industry has been hit by a protracted protest in the territory over the last few months. a market strategist i spoke with earlier said that although a global recession isn't imminent, the slowdown could put more pressure on regional central banks to cut interest rates even further and governments could implement fiscal measures to jumpstart implement fiscal measures to jumpsta rt the respective implement fiscal measures to jumpstart the respective economies. and there are bets that the us fed could reduce the cost of borrowing sooner rather than later if the job support which is due out tomorrow will show weakness in the labour market. as always, thank you very much. let's talk about microsoft now. at over $1 trillion, it's o

taiwan, and korea. taiwan is looking more interesting these days. is this because of the iphone cycle? benefitse iphone cycle all across asia. a big tech boost. but we are seeing is taiwan and korea tend to have big electronic components and their exports so that ties in with global chip sales. what we have been seeing across the region is korea's exports continue to decline but taiwan exports have actually been rising and i think that is very interesting because that shows taiwan is gaining market share. reasoncan probably see a for that, korea is getting impacted with its own regional trade wars with japan as well, so that shows that taiwan, even though it is externally exposed, is not necessarily a loser in what is happening in the global economy today. rishaad: the big bellwether is career, ultimately, isn't it? eddie: korea, that is shifting. in the trade numbers, it remains quite weak. semiconductor exports were down 30% year on year. if we look at korea and singapore together, the export picture is quite weak. it shows the global electronics cycle has not really turned yet. into taiwan, we can show even though it is no

you look at the china's trading partners in north asia countries, korea, taiwan, and commodity importershaving a difficult time as on the back of it. clearly the easing cycle is different. chinese government is not announcing credit stimulus or monetary easing. they would be slowing into 2020. there is near-term stabilization in q4. -- the globalhey would be slowg economy will be more severe down the road into next year. sophie: earlier you noted prices would top the target by the end of the year but on the ppi side of things we are seeing the remain under pressure, falling in the industrial sector which you anticipated during the summer with knock on effects on profits and makes devotee meant difficult. attainment difficult nt difficult. what do you make of the credit risk and deflationary pressures for the corporate sector? jian: the corporate sector is facing a difficult time. they were squeezed on the back of the deleveraging since last year where we have seen a significant rise in the risk. on the back of a slowing economy ppi, prices and profits have been under further pressure. th

activity we're not squust putting tariffs on china, but a number of countries in east asia, including japan, korea, taiwaners and that's why global trade is so weak that's why the global economy, from east asia to germany and elsewhere in europe is being hit hard by this bilateral -- seemingly bilateral tension between the u.s. and china. >> stephen, just quickly, final question on your latest situation in hong kong. >> well, i think it's tragic i think it's a great city. i lived there for a number of years. i think hong kong is going to have a difficult time reclaiming its mantle as an economic hub it makes it difficult to manage their external relationships as well. >> stephen roach, thank you for joining us today. >> thank you. >> phil lebeau has details on tesl tesla. >> the company reporting q3 deliveries falling shy of wall street's estimates estimate on wall street was for q3 deliveries of 99,000 vehicles tesla says it delivered 90,000 vehicles, 79,000 in change were the model three, model s and x a little after hours as they report slightly weaker deliveries of 90,000 vehicles. >> just looking at

trade war trade has risen almost 8 percent in asia's emerging and developing economies those countries include india south korea hong kong malaysia taiwan and vietnam china has turned to brazil for soybeans and meat the u.s. is relying more in mexico for machinery vehicles and plastics in the shrinking workforce and rising tariffs are expected to see some manufacturing move from china to places like vietnam india taiwan and mexico let's talk more about it with robert scott senior international economist at the economic policy institute he's on skype from potomac in maryland. so it's not to say that the trade war is a good thing to have because i think it's actually still hurting a lot of people but clearly there is there is room for some countries to benefit here. no question that countries should mention a 1000000 portabella developing countries have enjoyed the increased exports so you know the states in the wake of the trade war and that total u.s. exports from the rest of asia. total u.s. imports the rest of asia are significantly as is the overall u.s. . trade deficit with the world as a whole so these tariffs have not reduced amer

most important feminist novels and south korea and it sold 1 million copies and it is resonating with women in neighbouring asia, like in china and japan and taiwan will be available in the uk as well in february of next year. the timing is relevant as well because the metoo movement is gaining momentum and south korea. all coming within this one particular moment. that is right. the person i talked to says the timing was epic. because the book came out in 2016. just months after a martyr of a woman, a hate crime against women. —— murder of a woman. since that hate crime, there has been accusations of sexual violence by some powerful man and south korea prospect entertainment and literary scene, and last year, it led to #metoo movement in the country. so thatis #metoo movement in the country. so that is why there was also a light of the bail backlash from antifeminist. in many who have openly said that they read the book oi’ openly said that they read the book or remotely said that they support the book have been persecuted, attacked and insulted unaligned. explain to us the expression mum brooch and mum shaming. is that a real thing in korean so

now across eastern asia, we have seen typhoons pushing its way through taiwan, eastern parts of china, and recently, across south koreain spreads across northern japan over the next few days, sweeping bands of thunderstorms and gusty winds elsewhere across japan. easing away a little bit into the weekend, but there could still be remnants of humidity in tokyo, which is important of course, it's england versus argentina at the rugby world cup. 1—2 lighter showers around before things turn a little less hot into sunday. now, of course, for us in the uk, all eyes on this spiral of cloud. this was hurricane lorenzo earlier today, as it pushed through the north and west of the azores. no pushing over colder waters, it loses its hurricane status, but into thursday, and thursday nights, that will then work its way to the west of ireland. could see winds gusting 85 mph along those atlantic coast. more of that and weather for the week ahead in half an hour's time. but, elsewhere across europe, we turn colder through central and northern areas, blustery winds and some showers, but we have seen some pretty hot conditions towards

in asia, we are seeing signs of how the trade war is eroding the global economy. exports in japan, south korea, taiwan extending declines. selina wang joins us from edging. walk us -- from beijing. walk us through the data and give us the perspective. china appears on course for this tentative deal. we are not seeing any momentum in trade risk. exports during the first 20 days of october falling when he percent -- falling 20% from a year earlier. of course, in addition to the u.s.-china trade war, south korea is hurt by trade with 21%., dropping a whopping inan's exports dropped september, also pressured by week. overseas. demand that is extending the longest --line streak since only 16 since 2016. not to mention the tie exports -- the thai exports dropping, as well as in taiwan. alix: thank you so much, bloomberg's selina wang. now to canada, where elections will be held today between interest year and justin trudeau -- between andrew scheer and justin trudeau. reporter: the question is whether any party can get a majority. it looks like justin trudeau will probably end up with the most, but he will

korea, taiwan, and singapore. if it broadens into a bigger risk, it is difficult to pick any relative in asia.ntinues to be export dependent and that hasn't changed. paul: you describe economies being on a knife's edge and resection risk is something we discussed frequently. is somethingrisk we discussed frequently. take a look at this chart on the bloomberg terminal, one that seems, one shoe that seems to be firmly on the foot is oil prices. recessions generally correlate with a big spike. what are we to take away from this? if oil is cheap, we will be ok? i really like your take on that. that really reflects how complex and nuanced this is. typically, we get high oil prices that tend to correlate with a recession because you either get a geopolitical risk on oil shock that since the economy spiraling in. the trouble is, we are already on shaky footing with a bad knee and will prices will reflect to things -- two things. you see it getting bumpy every now and then, and you have the other end of it where demand is lower. the unprecedented amount of shale output from the u.s., oil has become mo

asia's largest exporters. if you look at the chart, you can see the blue line, taiwan has been in the slight uptick the past few months. that is better compared to south koreae and thailand who have been on the downward trend pressured by the u.s. -china trade war and japan-south korea trade spat. switching boards, looking at the four markets open, hong kong and mainland markets are closed, australia is on market holiday. looking at fuji co-which has earnings out, offering a shopping center chain as well as home entertainment and fitness center clubs. looking at the bank which is upgraded to buy at del potro. there were concerns of pressures by the cash rate cut dragging down banks. anz stocks has been up 10% since the start of the year. looking at lg display friday. a close down 1%. this was news that lg is going to cut the number of executives by 25% to streamline its lcd business and accelerate the switch to oled screens. and -- d by south korea thank you. wealthy hong kong citizens are looking for new passports. thereet protests make future uncertainty. are people offering citizenship rights in exchange for a sizable investment. inquiries from hong kong