:00:00. > :00:00.Earlier, unions representing Eurostar rail managers announced
:00:00. > :00:00.walkouts this weekend and over the Bank Holiday weekend
:00:07. > :00:22.Let's talk about the economy. Proposals being touted by the US
:00:23. > :00:27.presidential rivals in the run-up to the November polls. And Singapore
:00:28. > :00:34.narrows its growth forecast for the year. Good morning, Asia. Hello,
:00:35. > :00:39.world. I'm Rico Hizon. This is Asia Business Report. Thank you for
:00:40. > :00:47.investing your time with us. It is Thursday. Glad you could join us.
:00:48. > :00:52.The economy is looming large in this year's US presidential election,
:00:53. > :01:00.especially with both candidates developing ways to increase growth
:01:01. > :01:03.and create jobs. On Thursday, the Democratic's nominee, Hillary
:01:04. > :01:09.Clinton, revealed plans for the US economy. She will be speaking at
:01:10. > :01:16.Detroit's days after Donald Trump went to the same city to lay out his
:01:17. > :01:25.proposals. Here is a look at how their economic strategies go against
:01:26. > :01:31.each other. These reforms will offer the biggest tax revolution since the
:01:32. > :01:34.Reagan tax reform, which unleashed years of continued economic growth
:01:35. > :02:08.and job creation. They tried to make his old, tired
:02:09. > :02:13.ideas sound new. But this is what we know because we heard it again, his
:02:14. > :02:17.tax plans will give super big tax breaks to large corporations and the
:02:18. > :02:58.really wealthy. ELECTRONIC MUSIC. Hillary Clinton and Donald Trump on
:02:59. > :03:02.economic strategies for American. In other news, Singapore has shaved off
:03:03. > :03:08.a full 1% from its forecast for the 16. It is now estimated at 1- 2%.
:03:09. > :03:13.There economy expanded by 1.2% in the second quarter compared to
:03:14. > :03:19.levels unchanged from the previous three months. Sharanjit Leyl looks
:03:20. > :03:23.at what has been happening in the economy. It is one of the easiest
:03:24. > :03:29.ways to gauge of the global economy is starting to slow. The number of
:03:30. > :03:35.ships pulling into Singapore's Harper starts to fall. As the
:03:36. > :03:40.world's largest port, they have to go to Singapore first. Think of it
:03:41. > :03:44.as an airport. Instead of passengers, containers on these
:03:45. > :03:47.ships have to go through Singapore before going onto the rest the
:03:48. > :03:53.world. According to recent reports, the quantity of cargo coming through
:03:54. > :04:00.Singapore has fallen 5% in the first half of this year. Part of that is
:04:01. > :04:04.because China's economy is slowing. As Asia's largest trading partner,
:04:05. > :04:10.they buy and sell too many Asian countries. But their imports and how
:04:11. > :04:16.much they buy has fallen for 21 straight months. China's exports and
:04:17. > :04:20.how much it sells have fallen for 12 out of 13 months. That is dragging
:04:21. > :04:28.economic growth in Asia's largest economy to the slowest of a quarter
:04:29. > :04:32.of a century. That hits not just the transit economy of Singapore but
:04:33. > :04:37.many other sectors, including financial institutions, business
:04:38. > :04:44.sentiment, and the housing sector, as fewer Chinese choose to make
:04:45. > :04:48.their homes here. Prized as one of the most open economies in the
:04:49. > :04:53.world, when it is largest neighbours start to slow, it can be one of its
:04:54. > :04:56.biggest drawbacks. Sharanjit Leyl, BBC News, Singapore. And that is
:04:57. > :05:05.having a big impact on South East Asia's largest real estate business,
:05:06. > :05:08.Capital Land. The Chief Executive says it will continue to invest in
:05:09. > :05:17.the mainland despite concerns about the property bubble and rising debt.
:05:18. > :05:23.Sharanjit Leyl asked why they still see it as a safe net. It is a very
:05:24. > :05:27.big economy. There are areas which are specific, it is location driven,
:05:28. > :05:32.we have to be focused on getting the right location with the right sort
:05:33. > :05:38.of market. How do you do that? You have to do homework. That is the
:05:39. > :05:42.most important thing. We have a team on the ground who understand what is
:05:43. > :05:46.happening in the market. They understand the issues. Sometimes
:05:47. > :05:54.when we work on a project it requires very intimate and in-depth
:05:55. > :05:57.knowledge of specific issues. Concerns about speculation bubbles
:05:58. > :06:03.and over construction in many cities in China is rife. Do you think China
:06:04. > :06:08.should have different policies for different cities? China is a big
:06:09. > :06:16.country. It is hard to have a one size fit all. In some markets, the
:06:17. > :06:23.market has been particularly hardly hit. The government has been
:06:24. > :06:27.restrictive in their policies. Does that help you as an investor? It is
:06:28. > :06:35.good to have a stable market as an investor. As a real estate investor,
:06:36. > :06:39.you are not massively exposed to the united kingdom, but you say there
:06:40. > :06:44.are concerns being brought on because of Brexit. Tell us what they
:06:45. > :06:50.are and how might this influence your investment policies? That is
:06:51. > :06:56.because of the exchange rate. The other potential impact is on the
:06:57. > :07:02.slightly medium to longer term, the arrangement we will have, the UK
:07:03. > :07:08.will have, with other regions and countries, especially with EU
:07:09. > :07:13.countries. So we are now looking at this as a potential opportunity for
:07:14. > :07:20.us to see whether we want to have greater exposure to the London
:07:21. > :07:24.market for example. And do you? We are still at a stage where we are
:07:25. > :07:30.trying to understand how this is potentially going to work out over
:07:31. > :07:35.the course of the next years. Speaking to Sharanjit Leyl. New
:07:36. > :07:39.Zealand's dollar surging to a one-year high against the US
:07:40. > :07:45.greenback after the Reserve Bank of New Zealand trimmed its borrowing
:07:46. > :07:52.costs to a fresh low of 2%. And this is the sixth rate cut in 16 months.
:07:53. > :07:56.They flagged there could also be one more reduction this year as the
:07:57. > :08:03.economy is struggling to reach its inflation target. After turning his
:08:04. > :08:08.aim at criminals, Rodrigo Duterte is aiming at something else, business
:08:09. > :08:15.leaders. He has named and shamed business leaders as oligarchs. This
:08:16. > :08:21.includes a former trade secretary under the 20th richest person of the
:08:22. > :08:30.Philippines. A personal fortune of $1 billion. Beoing, the US plane
:08:31. > :08:41.maker, said it would further cut its output of 777s. They say that the
:08:42. > :08:46.large ones may have peaked. They had already set out plans to reduce
:08:47. > :08:51.production by 15% next year in favour of the 777X. India's
:08:52. > :08:57.central-bank governor will be leaving his post next month without
:08:58. > :08:59.seeking a second term. He chaired his final central-bank meeting
:09:00. > :09:08.earlier this week. Our colleagues caught up with him to look at the
:09:09. > :09:14.move away from interest rates and the economy to some personal
:09:15. > :09:31.I think I am a boring guy. LAUGHING. I wish they had done it
:09:32. > :09:38.when I was 25. LAUGHING.
:09:39. > :09:47.I think I will pass on that question. Whatever answer I give
:09:48. > :09:53.will be problematic. I will pass. I think that is one place where my
:09:54. > :10:00.wife organises everything and her answer is no. India's outgoing
:10:01. > :10:04.central-bank governor, the rock star! Here is a quick look at the
:10:05. > :10:09.markets before we go. As you can see, they are all down except Hong
:10:10. > :10:19.Kong. Behind saying index opens soon. -- the Hang seng. And the old
:10:20. > :10:26.and there is index is down in the last hour. Banking shares are the
:10:27. > :10:30.biggest losers. Oil prices are continuing to fall down another 2%.
:10:31. > :10:38.Thank you so much for investing your time with us. I am Rico Hizon.
:10:39. > :10:41.Olympic results on Sport Today is next. Goodbye for now.
:10:42. > :10:47.China's dreams of a clean sweep of the gold medals
:10:48. > :10:50.It's a surprise win for Great Britain in the men's