:00:00. > :00:15.off on Sunday. Now on BBC News all the latest business news live from
:00:16. > :00:25.Singapore. Five Chinese military officials are
:00:26. > :00:54.charged with stealing US trade secrets through cyber`espionage.
:00:55. > :01:05.Swiss banking giant Credit Suisse pleads guilty to charges of aiding
:01:06. > :01:24.American tax invaders. Welcome to Asia Business Report. We start with
:01:25. > :01:37.the United States which has charged five Chinese officials with
:01:38. > :01:42.cyber`espionage after they hacked into American systems. The Chinese
:01:43. > :01:54.state that they are based on fabricated facts. The world of
:01:55. > :02:00.corporate espionage can seem quite abstract but American authorities
:02:01. > :02:12.say it has a real impact on the lives of ordinary Americans. I am
:02:13. > :02:21.joined by an expert, the US attorney for the history of Pennsylvania.
:02:22. > :02:30.What impact does it have on the lives of ordinary people? It has a
:02:31. > :02:41.real and painful impact on other people. I come from Pittsburgh which
:02:42. > :02:55.is a steel town and the cradle of American industry. It should be
:02:56. > :03:19.obvious when steel companies invest huge amounts of money into research
:03:20. > :03:33.and development in an increasingly competitive global economy and to
:03:34. > :03:48.them through cyber`espionage, there them through cyber`espionage, there
:03:49. > :04:30.are real consequences. Plants close, people get laid off and lose their
:04:31. > :04:56.homes. What proof do you have? We have employed the American criminal
:04:57. > :05:03.justice system. It is one tool in the war to protect our citizens from
:05:04. > :05:38.cyber`espionage. These individuals who are affiliated with the military
:05:39. > :05:54.in China, were using spearfishing to intrude on the victims who were
:05:55. > :05:59.named in the indictment, letting bugs there and creating backdoors to
:06:00. > :06:18.begin to other compromised computers to X filtrate compromised data. But
:06:19. > :07:39.governments around the world have not made the same distinction it
:07:40. > :08:03.American law a criminal indictment based on evidence that was put
:08:04. > :08:07.before us. There you have it. Talking about the commercial damage
:08:08. > :08:11.and the human cost that results from that. The action taken today will
:08:12. > :08:13.add further strained to the relationship between the United
:08:14. > :08:17.States and China. Credit Suisse has become the first bank in more than a
:08:18. > :08:22.decade to admit to crime in the US. It's pleaded guilty to criminal
:08:23. > :08:26.charges of helping American clients evade taxes and were ordered to pay
:08:27. > :08:32.a fine of $2.6 billion in American federal court. We spoke to an expert
:08:33. > :08:36.to get her views on the case. There may be a chilling effect. Between a
:08:37. > :08:40.bank that has no criminal conviction and one that does, you will go with
:08:41. > :08:44.one that has the better track record. Stakeholders will decide
:08:45. > :08:49.that they want to do business a lot following months of an distressed
:08:50. > :08:53.that it was not. It is possible that the country could fall into a
:08:54. > :08:57.recession due to the crisis. This region to come through this period.
:08:58. > :09:03.What our low level grows best in her has come down. We will have made
:09:04. > :09:06.oath has come out a little bit stronger biggest trading partner now
:09:07. > :09:15.and rising consumption and investment within the region... The
:09:16. > :09:19.economy a thing of known as... Once all the eye could see on this island
:09:20. > :09:24.was green hills and water. Life had hardly changed for generations.
:09:25. > :09:26.Until this Chinese company arrived. They have been granted a license to
:09:27. > :09:30.explore half of the island for an iron ore mine. The local villagers
:09:31. > :09:35.are outraged. They tried to stop the trucks from being unloaded. . This
:09:36. > :09:38.road is being built by the Mining Company and will go up to where the
:09:39. > :09:41.mind will be. The villagers say they have no idea where the mine will be
:09:42. > :09:46.and that it will destroy their island. This woman has lived here
:09:47. > :09:50.all her life. She does not have much but she knows that she does not want
:09:51. > :09:53.the mining company here. It will kill the fish. How are we going to
:09:54. > :09:59.eat? The villagers have filed a lawsuit against the company and they
:10:00. > :10:02.won but that law has expired and the company has now secured a new
:10:03. > :10:04.permit. TRANSLATION: Of course the mining operation will destroy the
:10:05. > :10:10.land. We will make it better. We know how to do it. Despite concerns,
:10:11. > :10:13.the local ministry defended the government's decision. What we're
:10:14. > :10:17.trying to do is determine which activity can generate the maximum
:10:18. > :10:22.benefit for local people first. I believe that mining activities will
:10:23. > :10:28.give them a good choice to enhance the quality of life. Does sound like
:10:29. > :10:32.empty promises for these villagers. They feel powerless in the face of
:10:33. > :10:43.development. They are worried about their way of life vanishing. And
:10:44. > :10:46.that After months of political unrest of the Thailand army declares
:10:47. > :10:47.military