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tv   Asia Business Report  BBC News  June 26, 2019 1:30am-1:46am BST

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our top story: the top border official in the us is stepping down as anger grows over the treatment of migrant children detained in shelters, without access to showers or adequate food. reports sayjohn sanders and his colleagues have been overwhelmed by the enormity of the crisis. lawyers who visited one of the detention centres had reported squalid conditions. president trump has again warned that any iranian attack on us targets will get what he described as an overwhelming response. tehran called the latest us sanctions insane and said the white house was mentally incapable. and this video is trending on breakdancing is going to be an olympic sport. the international olympic committee voted unanimously to include it at the 2024 paris games. they hope breakdancing will make the games more appealing to a younger audience. that's all, stay with bbc world news. and the top story in the uk:
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jeremy hunt makes a dig at borisjohnson, saying the next prime minister should be trustworthy, otherwise the uk risks a general election and no brexit. now on bbc news, live to singapore for asia business report. world trade warning. the head of the wto cautions about global economic growth ahead of this week's crucial 620 summit injapan. india's trade opportunity. how the country aims to prosperfrom opportunity. how the country aims to prosper from the conflict between the world's two biggest economies. it isa the world's two biggest economies. it is a wednesday. 6ood the world's two biggest economies. it is a wednesday. good morning, asia. hello, world. 6lad it is a wednesday. good morning, asia. hello, world. glad you could join us for this exciting addition of asia business report. i'm rico hizon. let's start off with the rising trade tensions between the world's two biggest economies, as
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the head of the world trade organisation has warned over the impact of higher tariffs on global growth. his comments come as the presidents of the united states and china are set to meet later this week at the 620 summit in osaka, japan. week at the 620 summit in osaka, japan. we clearly haven't seen this level of trade restrictive measures ina level of trade restrictive measures in a very, very long time. just two yea rs in a very, very long time. just two years ago, trade was expanding at 4.6%, and we felt like we were kind of out of the woods. and now we are expecting this year 2.6%, and it's not looking very good if those trade measures keep being applied. the wto's roberto azevedo. earlier i asked former australian trade minister steve ciobo how he would fix china's conflict with the us. minister steve ciobo how he would fix china's conflict with the use think the first point to realise is that it think the first point to realise is thatitis think the first point to realise is that it is possible for china and the united states to strike a deal. certainly if you look at president trump's position with respect to the north american free trade agreement,
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the us was able to, together with mexico and canada, put a deal in place. so in order to secure a deal with china, it is going to take obviously a little bit of give—and—ta ke obviously a little bit of give—and—take on obviously a little bit of give—and—ta ke on both obviously a little bit of give—and—take on both sides, but make no mistake. the us is making no apologies for the fact that they are the ones who change the rules, especially with respect to the tra nsfer of especially with respect to the transfer of intellectual property rights, especially when it comes to, from the us perspective, their view that china is essentially incorporating a lot of ip developed in other countries and taking it and using it exclusively in china. is this the way to do it, mr ciobo? because does this issue also affects australian companies? well, asking is this the way to do it is a bit like asking how long is a piece of string. what i mean by that is it doesn't matter if it is or isn't, the idea is that the president of the idea is that the president of the united states is doing it this way. so we need to be realistic as countries with the way we engage the us administration around this. from australia's perspective, we are not supporters of tariffs. we have adopted a tariff free free—trade
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position with respect to so countries, either the tpp, we put in place free trade agreements with south south korea, china, japan, indonesia. that is not what the us is doing. they are rewriting the ground rules with respect to their engagement globally. on the technology side, you are trade minister for technology side, you are trade ministerfor more technology side, you are trade minister for more than two years from 2016 to 2018, and australia locked huawei. was this the right thing to do? will, we took the position as the government that we felt there were potential national security considerations from huawei being involved in telecommunications infrastructure. taking a look now at the osaka summit, the 620 meetings, eve ryo ne the osaka summit, the 620 meetings, everyone is indeed looking at this bilateral between xi jinping and donald trump. do you think any resolution will be taking place, or differences could be narrowed, when both leaders meet? well, we saw for example the 620 last year, once the
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leaders got together, they were able to achieve a statement that was positive for the markets, the markets responded accordingly. but then the devil is in the detail as then the devil is in the detail as the negotiating team sat down and worked through what it was the leaders were trying to implement, and it became more difficult. so so doi and it became more difficult. so so do i think you will get a positive announcement at osaka? yes, i do. but ultimately it will come down to the negotiating team stealing with the negotiating team stealing with the detail as to whether they can make progress. in other business news making headlines, fedex has warned the us— china trade war will hurt next year's earnings. it recently hurt next year's earnings. it rece ntly got hurt next year's earnings. it recently got caught in the dispute with chinese telecoms giant huawei when it missed routed some of its packages from asia to the us. earlier this week the company sue the government saying it has u nfa i rly the government saying it has unfairly burdened the company by forcing it to check millions of packages shipped each day for potential violations. san francisco has become the first us city to ban e—cigarette sales until their health
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effects are clearer. officials voted to ban stores selling the vaporisers and made it illegalfor retailers to ban stores selling the vaporisers and made it illegal for retailers to deliver to addresses in the city. it is home to america's most popular e—cigarette manufacturer. turning 110w e—cigarette manufacturer. turning now to india, and it is one of the world's fastest growing economies, and it is desperate to capitalise on that by boosting domestic manufacturing. well, the country hopes that by imposing higher ta riffs hopes that by imposing higher tariffs on imports, foreign companies will opt to make their product in india. but the levies have been widely credited, criticised by the likes of the united states and japan for being protectionist. —— widely criticised. and are they hurting foreign companies doing business in india? our correspondent visited india to find out. this is one of many companies choosing to manufacture in india. due to higher tariffs on foreign—made goods, it is cheaper to manufacture in india than import
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handsets elsewhere. it seems to be paying off. more than 240 plants like this have opened up across the country since 2014, and despite calls from the industry to lower tariffs, experts say it won't happen anytime soon. mobile phone only factory has reached 300 million phones. it is about now 23 or $24 billion. we are kind of waiting for a period where the manufacturing touches 50 or 60 or $70 billion. i think at that time the policymakers will realise that now this is the irreversible process, and that it is happening. it is notjust mobile phones. over the last few years india has raised the import tariffs ona india has raised the import tariffs on a host of other products, ranging from electronics to textiles. the tax on foreign—made refrigerators and air—conditioners has gone up to 20%. many countries have criticised
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india for rising protectionism. japan has filed a complaint at the wto against india for continually raising duties. india, which is the tariff king... and president trump has publicly called india out for its policies. just this month he ended india's preferential trade status for not allowing the us, quote, adequate access to indian markets. on the face of it it does look like raising tariffs is protectionism, but it is also really hits at the heart of trade negotiations. if the us and china end up agreeing to a particular trade agreement, then that is going to become the template for the rest of the world. many experts say that india could stand to benefit from foreign investment as a result of the us— china trade war, but there are concerns that with so many duties and tariffs in place, india may not be able to take full advantage of this opportunity. donald trump has called the escalating trade war with china,
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quote, a little squabble. but after he raised tariffs on $200 billion of chinese goods, beijing retaliated with china, tariffs of their own. us consumers will be caught in the crosshair. so how much of what the us president says on trade is true? we are having a little squabble with china. we are, again, in a very, very strong position. what they want to make a deal. our country can take on $120 billion a year and tariffs, paid for mostly by china. if you look at what we've done thus far with china, we have never taken in ten sense until i got a lack did.
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—— ten cents until i got elected. i love the position we're in. they can be some retaliation, but it can't be very, very by comparison. very very —— very, very substantial by comparison. we can make the product right here, like we used to. so what a lot of companies are going to be doing, quite naturally, is leaving china and going to other countries, so they don't have to pay the tariff.
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i love ta riffs, i love tariffs, but i also love them to negotiate. bells, whistles and buzzes on the ongoing us — china trade conflict. let's have a quick look now at the markets, and as you can see, in early asian trade, the nikkei 225 down by 138 points and the all ordinaries index giving back 16 points. so far, major indices in the red here in the region, and this is after us stocks slid overnight an disappointing economic data and uncertainty on whether the federal reserve will cut interest rates in july, as expected. the dow, smp and the nasdaq in the red. thank you for investing your time with us. sport todayis investing your time with us. sport today is coming up next —— s&p. the bosses of itv‘sjeremy kyle show have been criticised by a committee of mps for putting guests through lie detector tests without knowing how accurate those tests were, calling it irresponsible and astonishing. mps launched an inquiry
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after the show was axed in may following the death of one of its guests. jeremy kyle declined an invitation to appear. our media editor amol rajan reports. thejeremy kyle show was described by its bosses today as conflict resolution. critics say it was all conflict, and no resolution. he's a lying, cheating, horrible person. the show is no more. steve diamond was found dead in his flatjust a few days after appearing on an episode that was never broadcast. diamond had failed a lie detector test, one of the pillars of the show. i was telling the truth. the test says you're a liar. executives responsible for the show admitted today they didn't know how accurate the tests were. you can't define what a high level of accuracy is. not 100%, but 50% is not 100%. i'm not a lie detector expert, so what we would do is... no, but you are responsible for this programme.
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we've now cancelled the show, as you know, and i will say that we will not commission show in the future in this way, in this format, using lie detector tests, for the very reason you've just highlighted, which is the ranges — it depends on who you talk to. i find your answer slightly puzzling, because on the one hand you say they've done nothing wrong, on the other hand you're saying we're never going to do that again. itv say the jeremy kyle show served a proper duty of care and helped hundreds of people, and was loved by many thousands more. but the radical implication of their decision to end the show is that, even for a commercial broadcaster, mere popularity is never enough. what i would say is, if anyone raises an issue or concern or a complaint that is not resolved satisfactorily, they are referred to ofcom. that is not what bob 6regory, a former guest, says. he was expecting to meet his son for the first time, but says he was treated with contempt. i countless times complained
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to them about the whole show, the aspect of it, the way i was introduced. there was a banner at the bottom of the show which was completely wrong, everything. and their after—care was absolutely nil. it did not exist. never once was i told to contact ofcom, never once. it remains unclear how this will affect other shows. love island is a huge hit for itv, with a massive following amongst younger viewers. it had over five times as many smartphone views last week as its nearest rival. in a culture where everything is on display, all broadcasters are reassessing their duty of care. amol rajan, bbc news. now on bbc news, sport today. hello, this is sport today, live from the bbc sport centre. coming up on this programme: england's cricket world cup hopes
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hang in the balance, as arch rivals australia beat them to reach the semifinals. a 90th minute penalty takes the netherlands into the quarter finals of the women's world cup. and ahead of wimbledon, a set back for america's sloane stephens, who's knocked out of the grass court event at eastbourne in the second round. welcome to the programme, thanks forjoining us. england's dream of winning the cricket world cup on home soil is fast turning into a nightmare, after australia beat them by 64 runs to become the first team into the semifinals. england did well to restrict the aussies to 285 for 7 at lords, only to have the heart ripped out of their top order which left their chase in tatters. it was the first match between the arch—rivals since steve smith and david warner came back from their year—long bans for ball tampering.


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