tv Asia Business Report BBC News September 19, 2018 1:30am-1:46am BST
on products from america. it comes after the us said it was introducing $200 billion of tariffs on some chinese goods. president trump has threatened $257 billion more if china retaliates. south korea's president moonjae—in has been discussing denuclearisation with the north korean leader kimjong—un at their summit in pyongyang. and this story is popular on bbc.com. the korean—ca nadian actress sandra oh may not have come home with an award from the emmys, but her mother has won over the internet. young—nam 0h accompanied her daughter to the awards night, wearing the hanbok, a traditional korean dress. thousands tweeted their approval. and the top story in the uk:
an official report says it should be made easier for highly—skilled workers to come to the uk after brexit. the migration advisory committee also said eu citizens hoping to come here to work should not be given preferential treatment after brexit. here's rico. . retaliates against the administration, escalates the trade war. “— administration, escalates the trade war. —— tit—for—tat. and asia assessors have the cost of the destruction left from the typhoon. good morning asia, hello world. it is wednesday, glad you could join a. -- join is wednesday, glad you could join a. ——join us. to is wednesday, glad you could join a. —— join us. to start off with a trade war between that china and the us and beijing has hit back at president donald trump by imposing
new trade tariffs on $60 billion of american goods. this comes after washington slapped duties on $200 billion of chinese imports on monday. listen to what china's foreign ministry spokesperson had to say. translation: china has to retaliate against us measures. to firmly defend our legitimate rights and interests and safeguard the global free—trade order. and interests and safeguard the global free-trade order. the president has noted that chinese try to hurt the people he promised to help in his election campaign. retweeted: —— he tweeted. there was some relief in the global markets that the latest round of us ta riffs markets that the latest round of us tariffs against china is less damaging than initially feared. some technology products are excluded. let's ta ke technology products are excluded. let's take a closer look at what the us stands to game and lose. a 10%
tariff on $200 billion worth of chinese imports should, theoretically, raise 20 billion us dollars for us federal coffers. on the downside, there will be inflation pressures, consumers will feel the full impact in january. after the november us elections, the price of import duties is to rise by clipart sense. this is all happening as china has the world economic forum. we are joined as china has the world economic forum. we arejoined now by our asia business correspondence. it looks like an exciting days. —— corresponded. —— correspondent. indeed. the world economic forum here will see the chinese premier making the opening speech here and at it, of course the us china trade tensions will be one of the things that many people will be keen to
hear from that many people will be keen to hearfrom him on. we have already heard from chinese officials that the trade war is very much, in the chinese view, being pushed by the us administration and china has consistently said that all it can do is to push back and to retaliate. i think it is quite key to just look at what that says about the chinese position here, constantly trying to say that they are the victims of this trade war, not the people who started it. but what is this trade war doing for hiring expectations in the domestic chinese market? to a nswer the domestic chinese market? to answer that question i am joined by danny yuen, he is president of one of the top three staffing companies in the world. i know you have released a report on hiring expectations, any sign of the trade frictions worrying chinese companies as they would to hire in the future?
—— look to higher. —— look to hire. the biggest thing is uncertainty is a. this last quarter showed a little bit of decline versus the last quarter and bit of decline versus the last quarterand a bit of decline versus the last quarter and a little bit lower than the last year for the hiring the man's. but this is more complex. —— the man's. there is more uncertainty. especially a lot of the small and medium companies. the large companies still have their hiring agenda and that it is a short—term pause. hiring agenda and that it is a short-term pause. a short-term pause, but the survey it conducted is actually before the really big us ta riffs is actually before the really big us tariffs on chinese goods, $200 billion worth of chinese goods have come in. the situation has changed dramatically and if we are looking at the worst—case scenario, that is $267 billion, everything china makes for the us and how would that change the opinion of chinese companies?”
think this $20 billion isjust something else put in a. i think the chinese companies have very clearly seen the changing of the model for the export as the majority of business has changed. in the last ten years, chinese companies have changed from a local business model. i think that is something that we are adapting to. so this trade tension will increase acceleration pace for changing into this model. just briefly, china is trying to change its business model, can it do that at that time of these trade tensions? can it hire the people it needs? i think you see it is like accommodation action. recently the chinese government renewed and eased middle—class burdens. is helping to
change the chinese workforce from quantity to quality. and the public and private working sectors are working together. but unfortunately, recently, it is a big impact for short—term hiring. recently, it is a big impact for short-term hiring. thank you so much. will have more for you through the days. the cleanup effort is well under way across asia after typhoon mangkhut left trail of destruction. in the philippines, search and rescue operations are continuing, across hong kong and macau, the cost of the damage is starting to be assessed. i askedif damage is starting to be assessed. i asked if we expect the central bank and the philippines to act following the disaster. the philippine central bank has thus far raised interest rates by 75 pesos a. we expect it will be increased by more and
another 100 pesos next year. it will be an aggressive increased. the philippines, macau, hong kong, major trading centres, how has supplied being affected due to the devastation? it was definitely disrupted. in the case of hong kong and macao, the devastation was mostly controlled. hong kong is certainly back online and and luxury boating industry is and that sort of sector has been impacted but the damage is mainly has been negated. it is really the philippines and the logistics and infrastructure there that we are most concerned about. now to the good old rivalry between the two economic giants of asia, talking about china and india. indian leaders have spoken about converting the financial hub of mumbai intoa converting the financial hub of mumbai into a shanghai. which other to shanghai to find out whether that was even possible. —— we travelled.
decaying infrastructure, urban mass, flooded tracts. india one unlike's financial hub mumbai, seems like another world from shanghai, located 5000 kilometres away. digital is more than a slogan in shanghai, it is part of life. on roadsides across the city, you will find these b i cycles. the city, you will find these bicycles. they are cheap to hire and are paid for by mobile phones. from buying groceries, to purchasing tickets for the magnetic levitation train that runs upwards of 300 kilometres per hour, mobile wallet payment has led win is to shanghai. shanghai has 18 metro rail lines and is the longest retro rail network in the world. this man has been in
shanghai to 1a years. the world. this man has been in shanghai to 14 years.” the world. this man has been in shanghai to 14 years. i am at the international business leaders advise richard meier of shanghai. there are international executives on this award and this has recommendations by businesses and through the dialogues that the business has with the government, they are able to identify key areas where they need to double up. implication it alike is what is said to hold mumbai back. they are using 1 million cameras in shanghai, that, at the traffic is through the camera ‘s. there is a shanghai 2020 plan, 2025, at 2035. mumbai has plans, but where they differentiate that is implementation in mumbai is lacking. some say even by turn into a shanghai, but it needs a massive
infrastructure overhaul and a strong political will. fast paced element in shanghai came at a cost and the government brushed aside all to dos, including displacement issues. the question is, whether mumbai would be willing to pay that price. let's briefly look at the asian stock markets, all well entrenched in positive territory after gains on wall street overnight as investors judge the latest tit—for—tat tariffs between the us and china that is less damaging than expected. thank you for watching. i am rico hizon. this is bbc news. the headlines this hour: china imposes another $60 billion of tariffs on us imports a day after president trump announces more taxes on some chinese goods. south korea's president moonjae—in continues talks with kim jong—un on denuclearisation in pyongyang.
two men who were in charge of an sas exercise in the brecon beacons in which 3 reservists died have been cleared of negligence. the men died trying to complete the 16—mile march on one of the hottest days of 2013. duncan kennedy reports. this is the gruelling route that shows the unforgiving terrain of the brecon beacons — the testing ground for the sas. injuly 2013, lance corporal craig roberts, trooper edward maher and corporaljames dunsby collapsed on the march and died from heat stroke and organ failure. the two military organisers — known to the court as 1a and 1b — were charged with negligence. but today the judge stopped the court martial and ordered
that the two men be found not guilty. he said they were not negligent as individuals, that the real fault lay with what he called the systematic failures of the military authorities to train the men properly. the families of the men who died said the mod failed in its duty. there is still no official guidance for those conducting endurance marches in the british army on heat illness even five years on. this is beyond unacceptable, and shows blatant ignorance to a vital need, where apparently three deaths are not enough. this was one of the scenes on the day of the incident. the three men had set off on the 15—mile march carrying 50—pound backpacks and gps trackers. near the end of the exercise, craig roberts collapsed. edward maher also succumbed to the 30—degree temparatures, whilst james dunsby, who took an alternative route, was found on the final leg of march. the mod is immune from prosecution. in a statement today, it said:
the three men had pushed themselves to their limits to try to join the sas. they died in the pursuit of that dream, not because of the faults of individuals who were there, but because of a series of fatal shortcomings by the military authorities. duncan kennedy, bbc news. i will be back with newsday,. now on bbc news, sport today. hello, i'm tulsen tollett and this is sport today,
live from the bbc sport centre. coming up on this programme: hat—trick hero — lionel messi hits his stride for barcelona in their champions league opener against psv eindhoven. big injapan — kashima antlers make the asian champions league semifinals for the first time in their history. and england cricketers ben stokes and alex hales have been charged with bringing the game into disrepute after an incident on a night out last year. hello and welcome to the programme where we start with football and tuesday saw the return of the uefa champions league. and aptly it was lionel messi who starred as the barcelona captain and scored his eighth champions league hat—trick in a 4—0 thrashing of dutch champions psv eindhoven in their opening group b game. here's our football reporter rob schofield.