tv Asia Business Report BBC News November 10, 2017 1:30am-1:45am GMT
for the chinese leader. next, he heads to the annual apec summit in vietnam on the third leg of his asia tour, where he'lljoin 20 other world leaders. the head of the united nations‘ aid agency warns that yemen faces the worst famine the world has seen for decades. millions could be affected if aid deliveries are not resumed. and this video is trending on bbc.com. 600 men are refusing to leave the manus island detention centre in papua new guinea which closed last month. local authorities have threatened to use force get them out. the un says their situation is a "humanitarian emergency." that's all from me for now. stay with bbc news. and the top story here in the uk: penny mordaunt is the new international development secretary, replacing priti patel, who resigned because of unauthorised meetings with israeli politicians. she was a brexit campaigner. now on bbc news, all the latest business news live from singapore.
as the apec summit in vietnam kicks off, we find out what the negotiations might mean for the host country. and global retailers are getting ready for the biggest day in asia for on line sales, singles day! good morning, asia. hello, world. welcome to another edition of asia business report. i'm rico hizon. thank you forjoining me. it is another exciting friday! we start with us president donald trump. he arrives in vietnam very soon to attend the apec summit. earlier this year, president trump pulled out of the tra ns—pacific partnership
arrangement, dealing a blow to the free—trade ambitions of apec. china is trying to gain economic power in the region at the same time. we are joined from vietnam. she is right outside the summit site. it looks like it is all about trade and business. yes, indeed. as you can see, people are lining up and are getting ready to listen to many speeches from foreign leaders from the apec economies, like the japanese prime minister, the new zealand prime minister, and also, the speech everyone is waiting for, donald trump's speech, when he presents his vision of what the us‘s asia on the trade engagement in asia on the trade front and politically, frankly, will look like. there has been a lot of disappointment with the us pulling
out of the tpp, but the other i! economies that decided to go ahead with the deal had said to me that if the us does not want to negotiate, they will continue without it. listen to what the australian trade minister told me about a new deal taking place. history has told us taking place. biggie? his egg’g’ei countries that taking place. biggie? his tsg’g’ei countries that believe they can that countries that believe they can putés that countries that believe they can put é barriers to trade and tariffs put up barriers to trade and tariffs thinking that will enrich those countries, they will be worse off. they will have more poor people as a result for adopting those policies that frankly don't make sense. that was the australian trade minister speaking to me about the fact that if countries like the us decide to pull out of trade deals, well, asia and other economies will go ahead without it. that is what i have been getting from many people i have been speaking to add the summit. it is about the fact the us‘s influence in
the region is waning at a time china is getting more powerful and influential. i can point to the fact president xijinping influential. i can point to the fact president xi jinping will be speaking after donald trump. and there's rivalry between the us and china in the region is what many garment exporters and businesses in china in the region is what many garment exporters telling .inesses in china in the region is what many garment exporters telling me ;ses in china in the region is what many garment exporters telling me in is in china in the region is what many garment exporters telling me in the vietnam have been telling me in the past few days. made in vietnam but sold in new york. vietnam is one of the world's biggest garment exporters. and you can see why at this factory in ho chi minh city which produces everything from suits to coates every single day. —— coats. some of the best—known brands in america are made here under the watchful eye of michael. the us is still his biggest customer discipling out of the tpp, but that could change the pillar in the last
two months we have seen sales increase with china. that is a probable business, a positive force, in the near future. probable business, a positive force, in the nearfuture. china is already a major customerfor in the nearfuture. china is already a major customer for vietnam's biggest coffee exporter and grains provider. it sells rice to china but also exports to the us. the german says vietnam needs to balance these interests. translation: the us and china are both powerful countries, but they also are locked in conflict. they want to drag vietnam to side, and we should take advantage. remember, the economy of vietnam is still pretty basic, about supplying raw materials and produce to other markets and labour intensive manufacturing. that is why trade is so important. if the original u.s.—led tpp deal had gone
through it could have boosted the economy of vietnam by 10% over the next few decades, which would have lifted the income of people out here. that is why free—trade is on the agenda at apec which is on the edge of the south china sea. both vietnam and china have clashed over the waters, but the lack of engagement from the us means they have to go closer to beijing. translation: the us is one of the most important markets for vietnam. we were disappointed when they pulled out of the tpp. we hope they willjoin it again, but we are also developing links with other partners, including china. back at the garment factory, another shipment heads to american stores. trade has always trumped politics in asia. be more business you do here, the more influence you have. by vietnam is now stuck in between the two civil —— superpowers of the world. chinese and us officials say
they rounded up more than $250 billion in deals on donald trump's maiden trip to beijing to be they covered imports and exports. some a nalysts a re covered imports and exports. some analysts are questioning how likely it is these agreements will materialise. we are joined it is these agreements will materialise. we arejoined by it is these agreements will materialise. we are joined by my colleague for more. this sounds promising, $250 billion. it does so be it covers goods from aeroplane stute us beef. president trump has been critical chastising the chinese as having an unfair advantage in terms of trade. in 2016 alone, the us had a $247 billion trade deficit in goods with china. this is showing back at home that he may be bringing in morejobs back at home that he may be bringing in more jobs and back at home that he may be bringing in morejobs and revenue. back at home that he may be bringing in more jobs and revenue. of course, everything will have to wait to see how it all plays out. one more
question before we let you go. it seems he is turning the tables here, not blaming china, but saying the previous us president is to blame for the deficit. he took a step back and changed his tune. there was laughter when he said i am not actually blaming the chinese. this is his way of reaching some common ground. they have many issues politically and economically to get rid of. thank you for the update and have a great weekend. tomorrow is the 11th of november, also known as singles day if you are a big on line shopper. alibaba singles day if you are a big on line shopper. aliba ba created singles day if you are a big on line shopper. alibaba created the event asa shopper. alibaba created the event as a marketing gimmick but it is now the world's biggest on line shopping day. last year, chinese shoppers spent a record $18 billion on alibaba's platforms spent a record $18 billion on aliba ba's platforms in just spent a record $18 billion on alibaba's platforms injust 24 hours. in southeast asia, some are browsing and buying on line up to four days earlier. they see a 254%
increase in sales on singles day. there have been increases recently as well. what can we expect this year? i spoke to someone earlier, the general manager for the advertising firm, video southeast asia. it is the biggest shopping day by far asia. it is the biggest shopping day byfar in asia. it is the biggest shopping day by far in this region. when i say this region, i'm in southeast asia. we are seeing an increase in sales of 254% compared to the previous month. there is a spillover from the greater china market to southeast asia? that is right. there is an evolution of the ecosystem here. the more we are seeing this, the more we are seeing it on line as well. this will be much bigger than the thanksgiving day sales in the us.
will be much bigger than the thanksgiving day sales in the use is getting bigger. look at china. this is by far bigger. southeast asia, i want to mention, is, as a whole, is a market that is developing so fast we are calling it the next china when it comes to on line retail. singles day is focused on alibaba andjb.com. line retail. singles day is focused on alibaba and jb.com. they are the largest e—commerce sites in china. what about in southeast asia? amazon, the likes of art, can they compete? -- that. they have a strong presence in the country. we are seeing they are extremely aggressive and present everywhere during these promotional days. they are one of the biggest at this point in time in southeast asia, but you have
newcomers as well and all the giants appearing in the region. —— older giants. a quick look at the markets. as you can see, they are down across the board because wall street's stocks extended losses last night when republican politicians said they could be a one—year delay in they could be a one—year delay in the tax cut until 2019. the nikkei is down as well. thank you for investing your time with us. i am rico hizon. goodbye for now. hello. you are watching bbc news. the headlines. after wrapping up his visit to china, president trump will shortly be heading to vietnam for the apec summit, where he'll join twenty other world leaders. the united nations issues a dire warning for yemen that a saudi blockade there could create one of the worst famines in decades. the first minister of wales, carwynjones, has defended his
handling of allegations made against a colleague, who's believed to have taken his own life earlier this week. carl sargeant was removed from his cabinet job, but his family say he was never given details of the allegations against him. sian lloyd reports. carl sargeant, a former welsh government minister, who was sacked from his job and suspended from the labour party on friday, amid harassment claims. anything to say about carl sargeant, first minister? carwynjones, the man who took that decision, left his home this morning not giving anything away. en route to the senedd to face fellow labour assembly members for the first time since the death of their colleague. facing criticism about how he handled the investigation from mr sergeant‘s family and from within his own party, there were questions over carwynjones's position. he'd promised a statement, but this wasn't a time for him to resign. we were all very shocked by what happened last week. there is great hurt, anger and bewilderment. carl was my friend. in all the years that i knew him
i never had a cross word with him. but he defended his conduct in the way he responded to the allegations against carl sargeant. there is a legal process to go through. i'm obviously acting within that, but i welcome the scrutiny of my actions in the future, and it's appropriate for that to be done independently. carl sargeant‘s body was found at his home on deeside on tuesday. today, a family friend gave an insight into what mr sergeant and his family had been going through. messages were put out to the media and interviews were given where he didn't know they were about to happen. or the additional details would be placed into the public domain. it broke him. during that press conference held here, carwynjones made it clear
that he is staying on. but questions remain tonight from those who are shaken to the core by these tragic circumstances. it's not clear yet when they may be answered. sian lloyd, bbc news, cardiff. time now for all the sports news in sport today. this is sport today, live from the bbc sport centre. coming up on this programme: a greek tragedy in zagreb as croatia edge closer to a place at the world cup in russia. a controversial swiss penalty in belfast puts a dent in northern ireland's hopes of qualification. and bernd chips in south africa, as austria's wiesberger takes a one shot lead at the nedbank golf challenge.
hello and welcome to the programme. we start with football and croatia have taken a big step to qualifying for next year's world cup finals with a 4—1win over greece in the first leg of their play—off in zagreb. real madrid's luka modric opened the scoring with a penalty after only 13 minutes and, six minutes later, nikola made it 2—nil to the home side, before the greeks pulled one back. croatia added two more goals either side of the break through perisic and kramaric, so they're on the brink of reaching a sixth successive world cup. in the night's other game, northern ireland were beaten 1—0 by switzerland in a game marred by a controversial penalty. it was awarded after corry evans was penalised for a handball. ricardo rodriguez converted the spot—kick in the 58th minute which gave the visitors an away goal advantage ahead of sunday's return