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Those are the latest headlines from BBC World News. Now for the latest | :00:00. | :00:00. | |
financial news in World Business Report. | :00:00. | :00:19. | |
President Obama leaves Malaysia to fly to the last leg of his week`long | :00:20. | :00:24. | |
tour of Asia where demonstrators rallied against his push for a free | :00:25. | :00:30. | |
trade deal. We bring you up to date. | :00:31. | :00:34. | |
2014 marks 25 years since the fall of the Berlin Wall and, with it, the | :00:35. | :00:37. | |
collapse of communism. We take a look at how the countries behind the | :00:38. | :00:40. | |
Iron Curtain have changed, starting in Germany. | :00:41. | :00:46. | |
Welcome to World Business Report. In a minute, we'll be looking at the | :00:47. | :00:54. | |
Brazil economy which is looking unfit ahead of the World Cup. First: | :00:55. | :00:59. | |
Security and economic ties will dominate President Obama's visit to | :01:00. | :01:02. | |
the Philippines, his final stop on a week`long tour of four Asian | :01:03. | :01:10. | |
countries. He's due into Manila in about an hour, flying in from | :01:11. | :01:13. | |
Malaysia where demonstrators rallied against his push for a free trade | :01:14. | :01:15. | |
deal, the Trans`Pacific Partnership, which includes 12 nations around the | :01:16. | :01:22. | |
Pacific Rim. It looks like an uphill battle to get Malaysia to sign up, | :01:23. | :01:25. | |
after worries it'll lead to higher prices for food and medicines. | :01:26. | :01:33. | |
Jennifer Pak is in Kuala Lumpur to bring us up to date what happened in | :01:34. | :01:43. | |
the Malyasian leg of the tour. How would you assess his success | :01:44. | :01:51. | |
rate in Malaysia? President Obama and the Prime Minister has said that | :01:52. | :01:54. | |
the visit is nothing short of historic. He is the first US | :01:55. | :01:59. | |
president to come to this country in 48 years. In that time, China has | :02:00. | :02:04. | |
become the biggest trading partner of Malaysia. The US wants to get | :02:05. | :02:10. | |
involved and increase its economic ties. We saw in the case of the | :02:11. | :02:14. | |
missing airliner that the US and Malaysia are close but economically, | :02:15. | :02:21. | |
it is not up there. The US has dropped to the fourth largest | :02:22. | :02:24. | |
trading partner for Malaysia. The ten nations in South East Asia are | :02:25. | :02:32. | |
one of the fourth largest trading partners of the US in terms of | :02:33. | :02:37. | |
exporters. It is an important strategic partner. Mr Obama didn't | :02:38. | :02:42. | |
quite get the commitment required or the controversial deal you were | :02:43. | :02:45. | |
talking about, The Trans`Pacific Partnership. This is a free`trade | :02:46. | :02:49. | |
deal which is controversial locally there are ethnic Malay groups | :02:50. | :02:55. | |
concerned that there privileges over other races will be reduced under | :02:56. | :03:00. | |
the deal. We do not know a lot of details about this. A legion | :03:01. | :03:03. | |
officials have been quite guarded about what they will and will not | :03:04. | :03:08. | |
reveal, what they are actually discussing. It has been difficult to | :03:09. | :03:13. | |
assess the impact. A lot of people here are concerned about the prices | :03:14. | :03:20. | |
of commodities will go up if it is signed with the US. President Obama | :03:21. | :03:26. | |
has assured that the US is not bullying Malaysia to sign a deal. | :03:27. | :03:30. | |
Malaysia has said that it will attempt to work out some of the | :03:31. | :03:32. | |
sensitivities that local people have. Still a long way to go. Not | :03:33. | :03:38. | |
the commitment required that a good step forward. The partnership has | :03:39. | :03:43. | |
been hailed, moving forward into the new era. Described as a start but | :03:44. | :03:50. | |
still an uphill struggle to get all of the nation to sign up to the TPP | :03:51. | :03:56. | |
pact. This year sees the 25th anniversary | :03:57. | :04:00. | |
of the fall of the Berlin Wall and the collapse of communism. In the | :04:01. | :04:03. | |
first of a series of reports, Tanya Beckett looks at how the countries | :04:04. | :04:06. | |
behind the Iron Curtain have changed. We're starting in Germany, | :04:07. | :04:11. | |
the most visibly divided. East Germany benefited from trillions of | :04:12. | :04:14. | |
euros of investment from the west but some are critical of the | :04:15. | :04:16. | |
reunification process. A momentous night in Berlin, 25 | :04:17. | :04:33. | |
years ago. There was jubilation as Germans from East and West were | :04:34. | :04:35. | |
reunited for the first time in nearly three decades. On November | :04:36. | :04:43. | |
nine in 1989, Germans celebrated here at the Brandenburg gate in | :04:44. | :04:48. | |
Berlin. The wall which had divided them for nearly 30 years was coming | :04:49. | :04:55. | |
down. As they call at the brick with hammers and chisels, what was | :04:56. | :04:59. | |
perhaps harder to grasp was that the road ahead would bring more | :05:00. | :05:02. | |
difficult challenges. `` tore at the brick. What followed was an | :05:03. | :05:08. | |
absorption of the economy of the east by that of the West. You could | :05:09. | :05:13. | |
not imagine that there would be no wall in Berlin but it happened. This | :05:14. | :05:23. | |
German financial minister was a key figure. I don't know how many | :05:24. | :05:29. | |
mistakes we made but the biggest mistake would have been to not have | :05:30. | :05:36. | |
acted. He economy was not competitive. They were not | :05:37. | :05:44. | |
competitive. This is one of the few remaining parts of the Berlin Wall. | :05:45. | :05:52. | |
These two were at school in the east. They described how the | :05:53. | :05:54. | |
aftermath was felt in their communities. The industry collapsed | :05:55. | :06:00. | |
in a short time. More than 2 million people lost work. There was hardly | :06:01. | :06:05. | |
any industry left in east Germany. People had to move to West Germany | :06:06. | :06:11. | |
and begin from scratch. They felt all the time that they were | :06:12. | :06:16. | |
second`class citizens. There was a mistake that people said that you | :06:17. | :06:20. | |
had your attempt and your socialist ideas but you obviously failed. | :06:21. | :06:24. | |
Now, you have to begin all over again. No part of German society, | :06:25. | :06:33. | |
including the student in Berlin, would wish for a return of the wall. | :06:34. | :06:39. | |
Many a fact `` except that it could take another generation to close the | :06:40. | :06:44. | |
gap which it created. `` accept the fact. | :06:45. | :06:48. | |
With little over a month until kick`off, the spotlight is very much | :06:49. | :06:58. | |
on Brazil right now. The country won the right to host the World Cup | :06:59. | :07:01. | |
during a period of huge economic growth but since then, that growth | :07:02. | :07:03. | |
has been spluttering. Economists expect the economy to grow just 2% | :07:04. | :07:07. | |
this year, compared with more than 7% in 2010. And one of the biggest | :07:08. | :07:10. | |
issues the country's facing at the moment is rising prices ` inflation | :07:11. | :07:13. | |
remains stubbornly high at around 6%. Katy Watson now reports. | :07:14. | :07:20. | |
It is market today in south polo. People here are doing their weekly | :07:21. | :07:32. | |
shop, the cost of each keeps rising. `` Sao Paulo. Inflation is a | :07:33. | :07:38. | |
sensitive problem here. The hike in bus prices sparked widespread | :07:39. | :07:42. | |
protests around the country. With presidential elections coming up | :07:43. | :07:46. | |
later this year, inflation is a real focal point, something that will not | :07:47. | :07:52. | |
go away during the World Cup. The critics are more vocal. This | :07:53. | :07:56. | |
Facebook page which highlights high prices has more than 2000 followers. | :07:57. | :08:01. | |
Some of them are celebrating today at a picnic. They say that there is | :08:02. | :08:05. | |
more work to be done, especially ahead of the World Cup. The memory | :08:06. | :08:13. | |
of hyperinflation in the 1980s and 1990s still feels recent. During the | :08:14. | :08:19. | |
worst of times, prices rose more than 2000% per year. People need not | :08:20. | :08:21. | |
worry about the past repeating itself according to this man. He | :08:22. | :08:23. | |
should know. He was finance minister during those times. Everytime | :08:24. | :08:32. | |
inflation rises, it gets crazy. People manifested their opinion in | :08:33. | :08:38. | |
the opinion polls and production drops. The President is forced to | :08:39. | :08:41. | |
act to support the central bank in order to cut expenses in order to | :08:42. | :08:48. | |
avoid runaway inflation. It would mean electoral defeat. Back at the | :08:49. | :09:00. | |
market, the sellers are trying to convince shoppers that their food is | :09:01. | :09:04. | |
cheap. People are finding it harder and harder to believe. | :09:05. | :09:06. | |
In other news: Germany's Siemens says it wants to talk to the maker | :09:07. | :09:10. | |
of TGV high`speed trains Alstom about strategic opportunities | :09:11. | :09:12. | |
raising the prospect of a takeover tussle for the firm. It follows | :09:13. | :09:18. | |
reports that General Electric also wants to buy the company. | :09:19. | :09:26. | |
The British Government is facing a rebellion over the controversial | :09:27. | :09:28. | |
multi`billion dollar HS2 high`speed rail link when politicians vote | :09:29. | :09:32. | |
later today. The HS2 link will run between London, the Midlands and the | :09:33. | :09:35. | |
North of England and is expected to cost over $71 billion. Those | :09:36. | :09:40. | |
opposing want a cheaper and more environmentally sympathetic route. | :09:41. | :09:48. | |
Looking at the market now. For the most part, Asian shares wavered. An | :09:49. | :09:57. | |
uninspiring performance on Wall Street and its increasing tension in | :09:58. | :09:59. | |
Ukraine. Thank you for that. We will get to | :10:00. | :10:23. | |
the papers in a moment. But first: The BBC has learned that the police | :10:24. | :10:27. | |
are reviewing evidence to see if there's enough to justify a criminal | :10:28. | :10:29. | |
investigation into allegations of a cover`up of child abuse linked to | :10:30. | :10:32. | |
the late Liberal MP, Sir Cyril Smith. Our political correspondent, | :10:33. | :10:34. | |
Victoria Young, | :10:35. | :10:35. |