china and the us face off at the asean meeting of south—east asian nations.the markets, asian shares hit six—week lows, led lower by a steep fall on wall street after the fed plays down prospects for further rate cuts. we start with the cost of borrowing, because the world's most powerful central bank, the us federal reserve, has cut interest rates for the first time since the financial crisis more than a decade ago. the move disappointed financial markets, not to mention president trump. they wanted a bigger cut or at least a clear signal that more cuts will come. but the move is part of a global trend of falling borrowing costs from europe to asia to south america as the economic outlook grows more uncertain. let's show you the details. the fed cut its main interest rate by 0.25% to a range of 2—2.25%. chairman jerome powell citing signs of a global slowdown. last week european central bank chief mario draghi made it clear it they are going the same way with markets expecting a rate cut in september along with more stimulus measures. today it's the turn of

according to the report, only 9% of asean banks have a strategy to manage climate related risks and a in the region continue to finance new coal—fired power plants. i spoke to jenny stan, the head of asia's sustainable finance at wwf who told me more about the report. southeast asia is extremely vulnerable to climate and natural capital risks. if we look at some of the projections, they are quite alarming in terms of projected sea level rise, inundation risks from bangkok for example, north jakarta, due rise, inundation risks from bangkok for example, northjakarta, due to unsustainable groundwater use. and these of course impact real assets, physical assets, underground. we have a deforestation issue, as well as in economy, a deforestation front where we have unsustainable infrastructure and mining industries that are continuing to drive deforestation. so, the other aspect is of course coal, we have asean still being powered by coal—fired power plants that it's the only region where the projections are to raise a significant degree stop that's where these other two key issues that nee

asa would lay the foundations for asean created in 1967. the association of southeast asian nations. that would include singapore as well as indonesia and these three anti-communist founding members, malaysia, thailand, and the philippines. all of these countries were ruled by conservative anti-communist elites and would fully support u.s. intervention in vietnam, and during the '60s and the '70s, they would pursue increasingly intimate ties with the ascendant superpower. these were the vital moments of what is a wider pro-u.s. trajectory across southeast asia. one that would ensconce the majority of the peoples as well as the resources in the u.s. orbit by the height of the vietnam war. now what my book suggests is that this story of the wider region is lost if we focus tightly on the fate of indo-china. america's failure in vietnam is important without being central. whereas a number of scholars judge that u.s. -- the u.s.' humiliating retreat from vietnam is the end of a short-lived american empire. my book considers the dominos that did

ie, the asean states, japan and south korea. he understood and he said so that asian nations were suspicious of china. say saw communism as empty nationalists. linden johnson argued a reverse domino effect was already in play and he wasn't the only one that noticed. from '68 to '69 the soviet union admitted to american officials that the american predominance in the pacific was pretty much a fact and a valuable check, however, against, quote, their common enemy, china. the asean countries were not interested in jumping on this soviet bandwagon. in 1969 you can see who's responsible for the day to day chinese policy. it expressed frustration china was incircled and isolated by most key policies. the forces for containing china and southeast asia were more numerous than in any other area of the world. so combined with the destabilizing effects of the chinese culture revolution at home and rivalry with the ussr, chinese would have to accommodate to defect to u.s. and germany in the pacific. from outside of the white house looking i

ie, the asean states, japan and south korea. he understood and in press conferences he said so that ann asian nations were suspicious of china. lyndon johnson argued that a reverse domino effect was in play and he was not the only one that noticed. from '68 to '69, the soviet union admitted to american officials that the american predominance in the pacific was pretty much a fact. a valuable check against the common enemy, china. br breznev tried to collect a framework to the asean countries, but this fell flat. the asean countries were not interested in jumping on the soviet bandwagon. in 1969, the man responsible for the day-to-day running of chinese foreign policy expressed frustration. he expressed frustration that china was encircled and isolated on most key policy issues. he would years later admit that the forces for containing china in southeast asia were more numerous than in any other area of the world. so combined with the destabilizing effects and rivalry with the ussr, china would have to accommodate to de facto u.s

as far as -- this is an important trade grouping that includes the asean countries, including india, includes south korea, japan. we do believe that this is an area where we are keen to see a certain outcome. a few days ago our commerce secretary was there and we're hopeful for a satisfactory outcome that could benefit the trading relationships between all these countries. >> ambassador, thank you for a wonderful talk. my question ties in with the first question about strategy and convergences between india and united states. my specific question is towards india's effort to de- make eige indo-pacific. united states sees it as a package. how do you think the two countries will reconcile this nuanced difference? thank you. >> i'm a college student and in turn for congressman kathleen rice. i was wondering if you could, and what steps to retain top any, within the country and keep them there, especially those who are college educated. >> your excellency, my question is you talked about liberal policy and development. for instance, in the case of nepal exports about three times more was

first there were language barriers interest had to grow to be an issue in asean have already achieved a lot of learning to manufacture the utensils then turning their hand to sales. growth in. we have also gone to stones a couple of times to sell before. the team makes all the arrangements and we had. one ball fetches the last one rupee. we also get a share of profits then there so it. gave. 10 minutes india vandeman was one of the most challenging aspect we face with projects it was difficult for them to open up was because they're in a completely different world completely different country with no identity but then with various sessions with the community where we taught them their language had a little fun learning their languages and with the exchange of cultures you finally able to do work. on projects 1st customers is discovery greater noida it orders between $250.00 to $300.00 bowls every month they are mainly used to serve ice cream it is a stock. now we've all seen that heart wrenching image of marine conservationist pulling out lumps of floss to bags from the sea to but hav

blasts were reported at a government complex on the city's outskirts thailand is currently hosting the asean regional summit the top diplomats from asia countries. saudi arabia says it will allow women to obtain a passport and travel without approval from a maid relative as it stands the country's guardianship system considers women as equal to children and gives met men almost complete control over their lives. business through european liberal democrats have won a by election claiming a seat in parliament from the governing conservative party it's a setback for prime minister barak's johnson and his 1st electoral test since taking office last reduces johnson's working majority in parliament to just one head of an expected showdown between lawmakers over a possible no deal direct. u.s. president pan's rallied thousands of supporters of ohio he lashed out at the democrats mocking some of the leading politicians but as did obvious alexander for non reports from cincinnati the president stopped short of making any more remarks that could have been seen as a racially offensive. diane written th

china and the us face off at the asean meeting of south—east asian nations.

enjoy a minimum trade restrictions foreign ministers from the 2 sides had met on the sidelines of the asean summit on thursday and an attempt to work out a deal but you had earlier restricted the exports of key materials used in smart phone components to seoul japanese officials accuse south korea of failing to control the exports of sensitive materials to north korea iran was sparked by a world war era dispute with south korea demanding compensation for the victims of forced labor under japanese occupation now for more on this role mcbride is standing by for us with the latest from seoul but 1st we can get of the salami who is with us in tokyo thank you very much. what is the main justification for japan to drop south korea as a favor trading partner. hello of course japan has been beating its a stance that it's taking this year after discovering that some of the materials which can be used for dual civilian and military i mean 30 but bases they announced that they have discovered that some of this material japanese made materials exported to south korea has been has reached the north kore

is the asia—pacific and that is why i am here at the invitation of the thais who are chairing the asean15 foreign ministers and foreign leaders right across the region and while there may be doom and gloom back home, water struck me as the enthusiasm that they have shown for this concept of global britain and what it means for them as well as the advantages for the uk. meanwhile, boris johnson's government is facing a test of the by—election and if it loses a seat in wales, it will reduce the majority in the uk parliament to just one. joining the from the count isa uk just one. joining the from the count is a uk political correspondent jonathan blake. so the counting there is under way. the lid dams going into this were tipped to win. yes, the ballot papers are being counted behind me and your right, in the weeks leading up to the election it has been the liberal democrats we re it has been the liberal democrats were being seen as the favourites to ta ke were being seen as the favourites to take the seat from the governing conservative party here in the uk. it is the tories, the conserv

comments after meeting china's foreign minister in thailand on players also meeting leaders from the asean regional group in bangkok it's the 1st stop in a week long trip that includes australia and micronesia. the united states is playing down north korea's latest missile test state media and. pyongyang says kim jong loon watched wednesday's launch of 2 short range missiles the u.s. national security adviser says they don't violate a pledge to stop testing long range weapons came at the u.s. president last month in the demilitarized zone that separates the 2 koreas where they agreed to revive denuclearization talks. mozambique's president has struck a peace deal with the leader of a former rebel movement and then years of festivities leapin you see signed the agreement with a suit from the mahdi who leads the red namu opposition party its armed wing is disbanding as part of the deal rebels fought a 16 year war with a government that ended in 1902 and killed a 1000000 people. the murder rate in mexico is at the highest level ever recorded in its history on average around 90 people die ever

ossian'ss outside the -- asean summit. >> u.s. futures doing this, a big swing overnight.e is the state of play. risk off session, although coming off the lows of the day. the range of the flow today. play morehead. this is bloomberg. emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, trade tensions rise. president trump will impose a new 10% or up on $300 billion in chinese imports starting next month. this in addition to the 25% tariffs already imposed on other chinese goods. u.s. stocks tumbled. could iphone and other things rise as a result? plus, the acquisition inquisition.

i think all is young -- asean members are concerned. sea is safe. it is for trade we wanted to be a sea of trade, friendship, and cooperation. and we want to ensure that no werearization activities to happen, and we want everyone involved to make sure you don't escalate, should there be any incidents. everyoneeen reminding that even though warships are allowed to pass by because it is ,omething we have agreed upon and it is also administered un law, we in law -- also want to make sure you limit warships. you can't stop them from passing by, but it too many were to pass by, you sort of increase attention. shery: the malaysian foreign minister speaking to haslinda amin in bangkok. let's get a check of the latest business flash headlines. tesla giving its latest sales drive a power boost. it is bringing back the free and unlimited supercharging perk for new orders of model s and model x. tesla had scrapped the offer earlier this year as part of a cost-cutting initiative, but at the shareholder meeting in june, elon musk described the super

>> in relation to the asean relationship, i was wishing you could comment on that. >> i wondered if you could kashmir.n violence in there have been people who have been removed. i wonder what you sell their role as and what you saw the u.s. and europe as part of that. >> our position has always been that whatever we talk about in terms of the efforts to develop a new approach to some of the issues that are related to pakistan, what is important is the actions. one of the main issues that affects both the u.s. and india is terrorism. we believe those actions should be credible, verifiable. sustainable. when we talk about steps taken, we need to make sure that they are steps that can be over a certain time be verified as credible steps toward addressing the issue of terrorism. it is a similar issue. concerns overn the issues of terrorism funding. pakistan has been not taking steps to address the issue of terrorist funding. these are some of the serious things that need to be addressed. the steps on the ground, through legislation, action, should be credible and verifiable to enable the in

all of the sporting or international events that has i mean a larger and asean international expert used to come and delivering the event. i mean there will be going to the next event to ensure that the knowledge base here within about that and within the region we add this to institute center to ensure i mean to deliver education and training to this forging industry. sustainability is also part of the sporting industry at least that's the message the world cup commission wants to convey for example with the 1st fifa stadium to be recycled after the world cup. the whole a stadium as it is will be. dismantled up after that on the months of the world be broken bird dog gone into a different yours and saw a side that can be a bit the stadium itself can be rebuilt elsewhere with a similar sort of addition. to everybody down it is more like there's still a view. the building is made from shipping containers and steel girders after the world cup could theoretically sell the stadium to the u.s. from mexico so it can be rebuilt there 2026 as long as the politicians play ball. oh man it doesn't

comments after meeting china's foreign minister in thailand mr pump is also meeting leaders from the asean regional organization in bangkok it's the 1st stop in a weeklong trip that includes australia and micronesia scott hide from bangkok. in bangkok many different types of meetings taking place throughout the day foreign ministers of those 10 aussie on member nations meeting with a 3rd country foreign minister we had bilateral meetings between the united states and china but at the end of the day there really was no movement on any of the big issues being faced here in east asia and southeast asia what were discussed though were the big east south china sea territorial disputes the tension on the korean peninsula the trade war between the united states and china but none of those issues were really moved forward they were just brought up a lot of pleasantries people saying they want to continue working together but no real concrete action but interestingly later in the day u.s. secretary of state mike pompei i held a press conference and in that press conference a lot of these pleasantri

comments off the meeting china's foreign minister in thailand on pay as also meeting leaders from the asean regional group in bangkok it's the 1st stop in a week long trip to include australia and micronesia. china is preventing many of its citizens some traveling to taiwan the decision to stop issuing travel permits but affect people from 47 mainland cities china views taiwan as a breakaway province and tensions between beijing and taipei have been rising in recent months when he has more now from shanghai. in the 1st half of this year more than $600000.00 people from china visited taiwan so this decision will certainly have an economic impact and that seems to be the motivation behind it to apply pressure on the government in taiwan led by president sighing when who very much opposes the one china principle we have the election to coming up in january next year and there's no doubt that the government in china would prefer to see a more pro beijing person in office in taipei the decision also comes after some fairly provocative events recently we had the latest arms sale announced by the

word started of an initiative, a resettlement initiative that would be big enough to get the asean government's attention, quick enough to avoid disaster. so we were told we have word, start doing work on resettlement initiative. i took my staff, we did three or four options for resettlement. we did the budgets for. we had no money. the committees had done zero action on supplemental and appropriation. so the bank was dry. we're going for this big initiative. we end up with i am sure many of you know about the op center, seventh floor of the state department. big table, foreign policy leaders of the day are all there. said how many people are we taking in. that was the issue. we had u.s. refugee coordinator. because the issues were dollars and people, he thought i should take the lead. after 30, 45 minutes, the discussion is between me and dick holbrooke, assistant secretary for east asia. holbrooke wanted to go big. i said i know the constraints. i know it is not possible. congress is not even giving us money for present operations. you're talking about quadrupling the program. we had to negot

shery: vietnam says it will be the first asean country to [inaudible] u-- using ericsson increment ining its own component and says it wants to work with huawei because of itive situation." was: gross gaining revenue down in macau 4% from last year and continues to feel the drag of global uncertainty and the impact of the typhoon. there has been a pickup since july as the summer holidays are about to wrap up. --lowed from the protests saying that fallout from the protests are "midtier -- immaterial." speaking exclusively to bloomberg the cfo explained how the trade war is affecting his plans. >> the trade war is having a massive impact on all fronts. we focused on the china market and was impacted. little. a globalized company, our product sales and supply andn is across the globe the trade war is impacting our product and retail sales. we will proactively deal with the trade war impact and i believe that as long as the strategic operations are the implementation is more enforced, the impacts can still be controlled at this point. >> we were speaking to one of your competitors and the

the foreign ministers of japan and south korea meeting at the asean summit.ing out of that? derek: i have been covering politics for a long time. and really believe pictures. when you saw the photos and videos of the japanese and south korean officials meeting each other, they looked like they would rather be anywhere on gods green earth then where they were at that moment. it was so dour. you are seeing reports coming out of that that not much get fixed. there is now some -- starting to be, in addition to the historical concerns between these two, and the current trade concerns, you are starting to hear talk about mutual security concerns. keep in mind, japan and south korea are both u.s. allies. they are on similar sides of a lot of disputes. there is some concern that that unity starts to crack. that will be a big problem. of it --hat on the top a lot of different things. if that becomes problematic, that is even worse. can't we all just be friends? the u.s. is sitting there between a rock and a hard place. it's not clear they know what to do to get these

we had so many different refugees coming in, and they could stay in the asylum camps, and the asean countries had declared that there would no longer be a need for them. and thailand and there were 40,000 cambodians crossing the border. and that is part of what was happening that month. so i was told to try to take the remnants of the old organization and institute something that worked. i didn't particularly want anything to do with it, but i said that i would be a good soldier. so i went up and read all of the reports, and from the committees on the refugee act. there was one where the secretary for hew, and the discussion between the members and joe califano was don't you think that it would be better to take the state department's domestic resettlement department and take it to hew. so i went back home and looked on my desk of the judiciary report on the house subcommittee on approapriations say that we take the programs and the relief programs and the resettlement, and i realized there is nothing left. so i had another meeting with christopher and ben reed the undersecretary and i said,

and not only japan and the united states, and also asean included. and when i think about this region from different perspective, i think japan has three pillars to look at the indo-pacific. so, for example, on trade and navigation and also prosperity in terms of economic aspect, and indian ocean is the scores connected to the middle east. we are not only talk about the economic activities in the asian region, , but we are looking at the global scale and also the stability and also our prosperity. japan's self-defense, we should contribute to the global prosperity in so many different ways, including freedom of navigation and also a economy and also security. we have been working on as the defense force is we've been working together with southeast asian countries. we have dispatched engineers and also healthcare professionals so that those countries can learn and also grow their expertise in those fields. and, of course, we are not just dispatching people for a short period of time but we're sending them so they can assimilate or maybe be included.