Browse content similar to 07/10/2013. Check below for episodes and series from the same categories and more!
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Asia—Pacific economic grouping APEC are meeting in Asia, —1. President | :00:24. | :00:31. | |
Obama stays at home to deal with the budget crisis. And ending poverty. | :00:31. | :00:40. | |
Now is the time as the World Bank lays out its new strategy. Welcome. | :00:40. | :00:49. | |
You are with World Business Report. Also in the programme, working and | :00:49. | :00:54. | |
living on shaky ground in Mumbai. Our team in the city reports on | :00:54. | :01:00. | |
living on shaky ground in Mumbai. crumbling housing. But first, as you | :01:00. | :01:03. | |
have been hearing, Asia—Pacific leaders are gathering in Indonesia | :01:03. | :01:04. | |
for the annual economic summit. leaders are gathering in Indonesia | :01:04. | :01:40. | |
this year they are without their most powerful member, President | :01:40. | :01:41. | |
Good morning. In Bali there is a lot Obama. He is staying at home to | :01:41. | :02:09. | |
Good morning. In Bali there is a lot of talk about the fact that Xi | :02:10. | :02:13. | |
Jinping probably is not going to be at this meeting. I caught up with | :02:13. | :02:15. | |
that would include 12 Pacific Rim at this meeting. I caught up with | :02:15. | :02:30. | |
that would include 12 Pacific Rim countries including the US and | :02:30. | :02:30. | |
Japan, but not including China. countries including the US and | :02:30. | :02:38. | |
is why Obama's absence allows China to come in to negotiate their own | :02:38. | :02:45. | |
agreement. I will not give you a break on the acronyms and let you | :02:45. | :02:47. | |
know what I heard when I caught break on the acronyms and let you | :02:47. | :03:00. | |
PricewaterhouseCoopers. —— German. He says why everybody is so keen to | :03:00. | :03:06. | |
be getting in. I am afraid we do not have that from the chair man. Of | :03:06. | :03:17. | |
PricewaterhouseCoopers. But tell us what he said. Absolutely. There | :03:17. | :03:23. | |
PricewaterhouseCoopers. But tell us business leaders who are looking at | :03:23. | :03:26. | |
the Asia—Pacific as the long—term investment and opportunity. What the | :03:26. | :03:32. | |
survey essentially found is that CEOs are more optimistic about the | :03:32. | :03:36. | |
Asia—Pacific region this year than last year. Even though the World | :03:36. | :03:43. | |
Bank has this morning cut the growth forecast for developing East Asia | :03:43. | :03:50. | |
But the reorientation of the United fastest growing region in the world. | :03:50. | :04:00. | |
But the reorientation of the United States's encroachment of China | :04:00. | :04:07. | |
creates impeding trade blocs. What I hear from business leaders and | :04:07. | :04:10. | |
policymakers the ultimate goal is to create a free—trade area of the | :04:10. | :04:14. | |
Asia—Pacific. That would encompass create a free—trade area of the | :04:14. | :04:16. | |
Asia—Pacific. That would encompass trade gains of nearly $1 trillion. | :04:16. | :04:22. | |
hammer out some of these economic trade gains of nearly $1 trillion. | :04:22. | :04:47. | |
hammer out some of these economic Thank you, Linda. As she mentioned, | :04:47. | :04:49. | |
a lot more. You can follow her on Twitter. Moving on. Extreme poverty | :04:49. | :04:58. | |
has been described as the defined the moral issue of our time. —— | :04:58. | :05:04. | |
defining. The president of the World Bank says that with more than 1 | :05:04. | :05:07. | |
billion people in the world living on less than $1.25, he says they | :05:07. | :05:14. | |
institution to help end poverty on less than $1.25, he says they | :05:14. | :05:24. | |
economic disasters and crazies can wipe out economic gains were some of | :05:24. | :05:28. | |
the world's biggest people. —— Severe weather, like the recent | :05:28. | :05:35. | |
flooding in Vietnam, is getting Severe weather, like the recent | :05:35. | :05:39. | |
frequent, says the World Bank. These disasters are among a catalyst of | :05:39. | :05:43. | |
shocks that may push people below the poverty line. Managing these | :05:43. | :05:55. | |
seachange. A shift from responding to proactively managing risk. The | :05:55. | :05:59. | |
bulk of resources dealing with to proactively managing risk. The | :05:59. | :06:04. | |
bulk of resources dealing with disasters goes to emergency response | :06:04. | :06:08. | |
prevention. There are costs with and reconstruction. Only a tiny | :06:08. | :06:16. | |
supplements to reduce malnutrition benefits can be larger. For example, | :06:16. | :06:22. | |
supplements to reduce malnutrition can have benefits 15 times greater | :06:22. | :06:24. | |
problem. People can take too little than the cost. There is another | :06:24. | :06:35. | |
risk. Farmers often need cash to get risk. Farmers often need cash to get | :06:36. | :06:39. | |
through dry spells, but they can also deal with rain spells. The | :06:39. | :06:46. | |
through dry spells, but they can is to devote more planning to risks | :06:46. | :06:46. | |
before disaster strikes. Last week is to devote more planning to risks | :06:46. | :06:52. | |
before disaster strikes. Last week more than 60 people died in Mumbai | :06:52. | :06:55. | |
when a building they were living in The city has seen a growing list of | :06:55. | :06:59. | |
such buildings collapsing. Many The city has seen a growing list of | :06:59. | :07:06. | |
known to be unsafe. But people continue to live in them. We report | :07:06. | :07:10. | |
on what can be done to support the Mumbai. It has been condemned as | :07:10. | :07:24. | |
dangerous to live in. Yet more than 11 families call it home. This man | :07:24. | :07:32. | |
has lived here more than 20 years. He says there is no way he can | :07:32. | :07:39. | |
leave. TRANSLATION: I can't afford to buy a new house. Despite the | :07:39. | :07:42. | |
cracks we have no option but to to buy a new house. Despite the | :07:42. | :07:47. | |
here. When I go to work I keep calling home, because I'm worried my | :07:47. | :07:58. | |
building. The one Maxtor has been identified by the Administration. | :07:58. | :08:02. | |
There are nearly 1000 more such buildings in Mumbai. People continue | :08:02. | :08:05. | |
to live in many of them. Lives have crashing down. This amateur video | :08:05. | :08:18. | |
Windows begin to shatter, seconds later the wall has disintegrated. | :08:18. | :08:23. | |
The authorities say there have been later the wall has disintegrated. | :08:23. | :08:25. | |
The authorities say there have been trained to get people to vacate | :08:25. | :08:25. | |
unsafe structures. TRANSLATION: trained to get people to vacate | :08:25. | :08:31. | |
provide temporary accommodation trained to get people to vacate | :08:31. | :08:34. | |
people will buildings are being reconstructed. But often these | :08:34. | :08:38. | |
houses are located far away. People can find it inconvenient. They do | :08:38. | :08:46. | |
houses are located far away. People places, poor quality construction | :08:46. | :08:46. | |
construction practices are often places, poor quality construction | :08:46. | :09:11. | |
construction practices are often ignored by those in power. Any | :09:11. | :09:13. | |
reconstruction can take years to reach. But with the death toll | :09:13. | :09:20. | |
rising, the city's government is another building comes to rubble. | :09:20. | :09:31. | |
Let us just update you on what is going on in the state. The Speaker | :09:31. | :09:33. | |
of the House of Representatives going on in the state. The Speaker | :09:33. | :09:40. | |
said it will not agree to raise America's debt ceiling without | :09:40. | :09:43. | |
measures to deal with the underlying problems. United States will hit its | :09:43. | :09:47. | |
borrowing limit in less than two weeks. Congress will need to approve | :09:47. | :09:51. | |
an increase if the US is to avoid defaulting on debt. That situation | :09:51. | :09:54. | |
and the budget deadlock is very defaulting on debt. That situation | :09:54. | :10:02. | |
dominating markets. There is no agreement, as you can see in Asia. | :10:02. | :10:07. | |
We are seeing losses across the board. The indications are that | :10:07. | :10:11. | |
We are seeing losses across the US will go lower, as will Europe. | :10:11. | :10:15. | |
Those are the currencies. The yen is seen as a safe haven. I will see you | :10:15. | :10:20. | |
later for a look at the papers. | :10:20. | :10:25. |