about 16%e they get of revenue from the asia-pacific region.ack down and blacklist our domestic vendors, cisco could be hit, given they get about 60% of revenue within the global security market from the asia-pacific region -- 16% of revenue within the global security market of the asia-pacific region. the long-term impacts we talked about as different countries go for it. taylor riggs, thanks so much. the wealthiest person in south korea may leave his descendents with a massive tax bill. carol: and why it is hard to sell a mega yacht in china. jason: this is "bloomberg businessweek." jason: welcome back to "bloomberg businessweek." carol: join us for bloomberg businessweek everyday on the radio from two-5 p.m.. you can also catch up on our daily show by listening to our podcast. jason: and find us online and through our mobile app. our finance editor shepherded this week's special money issue. carol: we talked to pat about two of our favorites. about how chinese tycoons are different from counterparts in the rest of the world. jason: and a hig

beijing to combat climate change and endeavor it says that will benefit economies across the asia pacific region. and i'm joined now by business is clifford coonan who has long experience covering china clifford the asian development bank isn't the only multinational lender that signal close look at chinese status is that's right the world bank is also examining it now and i think people are das questions about do we really need to be lending money to china when as we saw last week we have the belgian road forum in beijing of which china highlighted how it's lending money to other countries in the region and to build its influence and to to move into other parts of the world so i think people are wondering now what is going to happen with with lending and china now the a.t.p. says that it will keep lending for climate change product projects in this case talk about china is that something that's just really needed in china or is this just sort of a face saving measure to keep lending to them but i think as we saw in the in the report just there you could see the era beijing i mean pollution it g

we talked about the challenges in the asia-pacific region especially the united states. how do singapore and other countries in the region, other countries in asia pacific, have all this and farmer have the two major superpowers really coming toe to toe to some extent and how does it affect you and how do you navigate it. >> we handle it with bated breath. and anticipation and about circumstances we are in. and as you point out it is the central preoccupation all countries will have to consider. and the stopping point is in any country supposed to choose sides and everyone loses. that is a scenario that you want to avoid but even as we say that, it looks increasingly moredifficult. whether it is a choice of technology , alliances, the business partnerships and so on and so forth. but to set the context, china 's growth has been good for asia. we are talking you look at the last two decades. -- is growing i remember in the early mid 2000 after 9/11, the economy took a dive and other economies also then we bounced back. much of that growth was attributed to the chinese as w

. >> they also looked at the stability of the indo pacific region. >> they also announced the two country wilies will cooperate o human space travel. president trump made a special point to call out kim jong-un during his remarks as well. listen. >> the essence of our approach is peace through strength. this is a strong alliance indeed, the u.s./japan alliance is steadfast and ironclad. we want peace and we want stability. we continue to hope that chairman kim seizes the opportunity to transform his country through denuclearization. it is a country with tremendous economic and other potential. >> prime minister abe says president trump supports his decision to hold candid talks with the north korean leader. take a listen. >> translator: i have to directly see chairman kim face to face without attaching any conditions. i meet him and then frankly and i must have discussion in complete candor. at the summit talk today to my resolution as such, president trump expressed that he will give all out support. he will spare no efforts in rendering assistance to my efforts. it was a very strong sup

began a pacific region tour new zealand.

began a pacific region tour in new zealand highlighting increasing threats to the environment. voters in northern india have cast ballots in the 2nd to last round of a 7 phase general.

began a pacific region tour in new zealand highlighting increasing threats to the environment. the people of the philippines are voting in mid-term elections seen as a referendum on president rodriguez.

began a pacific region tour in new zealand highlighting increasing threats to the environment. the people of the philippines are voting in mid-term elections seen as a referendum on president rod rigo do.

began a pacific region tour in new zealand highlighting increasing threats to the environment. the people of the philippines are voting in mid-term elections seen as a referendum on president.

defend against threats in the asia pacific region and beyond american vice president touched on those perceived threats as well during a speech at the elite west point military academy. comments now on all of it and after mike pence he gave a blunt assessment of the future for american soldiers. you will fight on a battlefield for america at some point your life if you didn't notice the words in the background that was mr vice president talking to the graduates of a top class u.s. military academy and that wasn't it how do you like this degree of certainty it is a virtual certainty that you will fight on a battlefield for america at some point your life. you will lead soldiers in combat . he will have so what is the 2nd most important official in the country trying to make clear by that the good old boots on the ground will certainly be on the way to quite a few different places after all come on no one in this world would dare to send an army against america to put up a fight there nobody will realistically send soldiers to attack the superpower of all superpowers and so men and wome

institute's annual asia power index, which ranks countries on the power they hold in the asia—pacific regionapability, diplomatic influence and resilience. for more on the results, i'm joined by herve lemahieu, who is the director of the lowy institute's asian power and diplomacy programme. great to have you with us in singapore. thank you. is way one factor over the other? we take a comprehensive exercise and look at not only what countries have what they do with what they have. it is nice to have a big economy but you need to be investing in strategically pivotal countries. it is nice to have a nice military but you need to be investing in diplomacy. there are 120 indicators, and 35 data points. the us has underachieved but remains a power. this difference between the us and china has narrowed. it is complicated but does this index fit into the current news narrative that we already know or doesn't tell as an alternative story? it is a somewhat counterintuitive because what it does is give us the bigger framework. we are moving into a new era of great power relations. from an open and cons

its second ever asia power index, ranking 25 countries in terms of power they wield in the asia—pacific regionility, diplomatic influence, and resilience. this year, the us, china and japan topped the list. we will be speaking to a representative later to take us through the result. eight years after the meltdown of the fukushima eight years after the meltdown of the fu kushima power eight years after the meltdown of the fukushima power plant injapan, people are being able to return to their homes. they were evacuated when a huge tsunami stuck precipitating a meltdown of the powerplant. now just precipitating a meltdown of the powerplant. nowjust over half the land in the small town of okuma has been cleaned up. our people coming home? i pulled the whole lot out. i am eating a salad without asking. after eight years as a nuclear refugee, this man is back in his field. this is very interesting, this man has planted his crops basically for his own consumption. he is testing to see if it is safe to eat, what can grow here. he says he has removed the top soil, and consequently it is not nearly as

the visit will include travelling to the islands in the pacific region, low—lying countries that could rising sea levels. they are really on the front line of dramatic impacts of climate change. we absolutely must the able to stop this dramatic trend, to reverse this dramatic trend, we cannot allow for runaway climate change. we need to protect the lives of old people and we need to protect our planet —— old people —— antonio guterres. we need to protect our planet —— old people -- antonio guterres. he says the world is facing the effects of climate change faster than people can suckle it. while the world is aiming to limit climate change to 1.5 celsius, empty max's politicians are not doing enough. we're seeing everywhere a clear demonstration that we not on track to achieve the objectives defined in the paris agreement. and the paradox is that as things are getting worse on the ground, political will seems to be fading. however, he prays new zealand, saying all other countries should follow its lead after it introduced it zero carbon bill earlier this week. the country has set a targ

is going to be hurt china is going to be hurt if they ship pacific region which is one of the most dynamic economic regions they're all going to be hurt so they're really nor we're nervous but. it's just it's just a question of who knows loses more. that's a global news wrap up for now but i'll be back at the top of the hour with the latest thanks for telling it 1. what is it going to coin is magic a new type of digital currency the centralized digital scarcity chancellor. of 2nd or bank that's called the genesis blog for reason to calling it civil disobedience a source of optimism because i can control my own financial destiny it's just a new way of coming to consensus it's a game changer in the human history and this is columbus discovering the new world this paradigm shifting technology that transforms economics and finance in a heartbeat the apollo 11 landing on to the max and stacey. facebook and google started with a great idea and great ideals unfortunately it was also a very dark so. they are constructing a profile of you and that profile is real it's detailed and it never goes awa

traditional banking industry or spoke with swift head of capital markets and standards for the asia pacific region lisa o'connor during hong kong blog chain week. so it does a co-operative of the banks it was set up over 40 years ago it is considered to be the oldest private cloud for the financial services industry we have 11000 members in our in our cooperative and those members all leveraged with services in different ways many people know swift as a as a payments company but in fact we do many things so our members can be corporates they can be asset managers they can be probed for years they can be banks and they leverage the network for many different things including payments treasury transactions securities transactions etc and on top of that we offer value added services things like compliance tools on top of the network also things that help with screening of payments to reduce fraudulent transactions and we also offer consulting and services to our members orders where differ from the traditional but so we are owned by the banks so we are owned by the banks we have a very strong governa

that's why you see so many companies in southeast asia and other parts of the asia—pacific region usingon't go away. let's have a look at the markets. japan is still closed. they are celebrating a new emperor. no action in tokyo. china is also shut for a public holiday. markets are fairly thin because it's been a bit of a weird week. on wednesday, the us federal reserve decided to keep interest rates on hold — borrowing costs will remaining at between 2.25—2.5%. more detail on that in a second. but let's look at europe. here in the uk, metro bank shares are down, double—digit decline for metro bank shares. their deposits are down. we got shell‘s results, first—quarter profits down 2%. lloyds bank, profits down 2%. lloyds bank, profits flat. interesting day, so much to diejust. profits flat. interesting day, so much to die just. berkeley will be feisty, that's on the agenda too —— so feisty, that's on the agenda too —— so much to digest. from washington, here's michelle fleury. the masters of monetary policy face a puzzling picture. the us economy accelerated in the first three months of

the visit will include travelling to the islands in the pacific region, low—lying countries that couldbecause of the rise in sea levels. they are really in the front line of the dramatic impact of climate change. we absolutely must be able to stop these dramatic trends, to reverse these dramatic trends. we cannot allow for a runaway climate change. we need to protect the lives of our people and we need to protect our planet. speaking about the recent floods in mozambique he said the world is feeling the effects of climate change faster than the human efforts to tackle it. while the paris agreement on climate change aims to try to limit global temperatures to 1.5 celsius, antonio guterres says politicians aren't doing enough. and the paradox is that as things are getting worse on the ground, political will seems to be fading. however, he praised new zealand, saying all other countries should follow its lead after it introduced a zero carbon bill earlier this week. climate change is not just about humans. it's also about wildlife. take polar bears, for example. global warming means there

traditional banking industry or spoke with swift head of capital markets and standards for the asia pacific region we saw o'connor during the hong kong week . of the bank it was set up over 40 years ago it is considered to be the oldest private cloud for the financial services industry we have 11000 members in our in our cooperative and those members all leveraged with services in different ways many people know swift as the payments company but in fact we do many things to our members can be corporates they can be asset managers they can be pros they can be banks and they leverage the network for many different things including payments treasury transaction securities transaction etc and on top of that we offer value added services things like compliance tools on top of the network also things that help with screening payments to reduce fraudulent transactions and we also offer consulting and services to our members notice will differ from the traditional. so we are owned by the banks so we are owned by the banks we have a very strong governance structure that's around us but the banks own us and