:00:00. > :00:11.Now it is time for Asia Business Report.
:00:12. > :00:17.We countdown to the last US presidential debate. How are
:00:18. > :00:23.American companies in Asia feeling with just weeks to go until the
:00:24. > :00:28.election? And will it be bottoms up after Brexit? With look at a study's
:00:29. > :00:38.trade ambitions with the UK -- Australia's. Welcome to Asia
:00:39. > :00:43.Business Report. The third and final US presidential debate kicks off in
:00:44. > :00:49.half an hour and with three weeks to go to voting day, some polls have
:00:50. > :00:55.shown Democratic candidate Hillary Clinton in the lead over Republican
:00:56. > :00:59.rival Donald Trump. The biggest issue for US companies based in Asia
:01:00. > :01:04.is the Trans-Pacific Partnership trade deal, which is still not
:01:05. > :01:09.passed by the US Congress, according to one assessment. Both candidates
:01:10. > :01:16.have come out against it. What we want to do across all of us is to
:01:17. > :01:21.get the vote now. President Obama is in favour of it. There are enough
:01:22. > :01:26.Republicans and Democrats in the house to pass it. We would like to
:01:27. > :01:31.see the ticket, to vote in Congress after the election and before the
:01:32. > :01:35.next president -- TTIP. How will markets react width the chief
:01:36. > :01:43.economist at the bank in Singapore gave it his view. It is a winners
:01:44. > :01:50.take all system. They are expecting Hillary Clinton will win. That is
:01:51. > :01:54.done. Now the interest is shifting. Are they so far ahead that the
:01:55. > :01:59.Democrats will win Congress as well? And maybe they are not so positive
:02:00. > :02:03.about that. Then you lose some of the checks and balances in the
:02:04. > :02:05.system. You talk about checks and balances, and Congress has not quite
:02:06. > :02:11.passed the Trans-Pacific Partnership. That is something a lot
:02:12. > :02:17.of Asian countries have lots of stakes in, the ones that have signed
:02:18. > :02:21.up to it. What are the prospects for the TTIP going through depending on
:02:22. > :02:28.who wins? If Donald Trump wins, it is completely dead. It will be a
:02:29. > :02:32.trade war. Forget about their bad. Clinton said she would renegotiate
:02:33. > :02:38.it -- forget about them out. It is so complex that so many countries.
:02:39. > :02:43.Remember how long it took to negotiate it. To renegotiate would
:02:44. > :02:47.be close to being dead. The only real hope is to pass it in the lame
:02:48. > :02:52.duck session after the election but before the new president takes over.
:02:53. > :02:55.Most people want that and it would solve problems for Clinton, whose
:02:56. > :02:59.she probably wants it even though she can't admit it. But whether
:03:00. > :03:10.Obama can persuade the Republicans to play ball is another thing. And
:03:11. > :03:14.how do either candidates factor into the Fed reserve's interest decision?
:03:15. > :03:20.A Quentin win might suggest that they continue with their policy of
:03:21. > :03:26.raising rates -- Clinton. Yes, if Clinton wins, the federal rate may
:03:27. > :03:30.rise in December. Nobody thinks they will raise rates during the
:03:31. > :03:37.election. If Donald Trump wins, all bets are off. He has a crazy
:03:38. > :03:41.expansion it fiscal plan, but if you have a global recession because of
:03:42. > :03:46.outright trade was, the Fed will be stuck in terms of trying to avoid
:03:47. > :03:51.another recession -- trade wars. A status quo Clinton victory means it
:03:52. > :03:55.may rise in December and a couple of times next year. In other business
:03:56. > :03:59.news, a number of trade deals will be signed by the Philippines and
:04:00. > :04:04.China later today as part of President Rodrigo Duterte's four-day
:04:05. > :04:07.visit to China. The deals come despite of territorial disputes
:04:08. > :04:11.between the two sides over Ireland in the South China Sea. That has not
:04:12. > :04:14.stopped the bank of China agreeing to learn $3 billion for
:04:15. > :04:19.infrastructure projects in the Philippines -- over islands. Stores
:04:20. > :04:25.in China could one day outnumber those in its home market in the US.
:04:26. > :04:30.The US cover chain is pushing ahead with an aggressive plan to double
:04:31. > :04:36.its doors to 5000. Starbucks has so far captured about three quarters of
:04:37. > :04:41.the market in mainland China. And more car industry judges could be
:04:42. > :04:47.added to the workload of the Chief Executive of Nissan. But their plan
:04:48. > :04:50.to buy a stake in Mitsubishi mean they could take on a third role as
:04:51. > :04:55.chairman. Mitsubishi has been struggling to recover from an image
:04:56. > :05:02.and scandal. -- emissions. Economic and building if researcher to big
:05:03. > :05:09.issues for Indonesian President Joko Widodo. He also has plans to improve
:05:10. > :05:13.transport. Java is the most populous island with 150 million people, and
:05:14. > :05:18.includes the capital of Jakarta and the second biggest city. A highway
:05:19. > :05:21.to connect the west and east of the island was launched by the
:05:22. > :05:26.government in the 1990s. The trends job at all road will stretch more
:05:27. > :05:31.than 1200 kilometres when it is finally completed -- trans-Java. We
:05:32. > :05:38.visited one of the sections under construction. She spoke to Joko
:05:39. > :05:47.Widodo as part of a series of exclusive interviews. Infrastructure
:05:48. > :05:59.is an essential aspect for economic growth. So now we concentrate on
:06:00. > :06:03.infrastructure. Not only be to road but also the deep sea port, and a
:06:04. > :06:12.new airport and a row away -- the toll road. Not only in Java but the
:06:13. > :06:18.other island, into my trap -- in Sumatra, and the other islands. We
:06:19. > :06:28.hope with good infrastructure, the transport costs will be decreasing.
:06:29. > :06:33.And then logistics also gritting. How do you think this will change
:06:34. > :06:39.people's lives here? -- logistics costs also decreasing. It will be
:06:40. > :06:50.faster. But it has taken a long time. 15 years this project has been
:06:51. > :06:59.under way. I asked my minister three things. To make it faster? Yes.
:07:00. > :07:04.Indonesian President Joko Widodo. As the row continues in Britain over
:07:05. > :07:09.the timing of its exit from the EU, reduces in another part of the world
:07:10. > :07:13.are eyeing up opportunities it might bring them. Australia has said he
:07:14. > :07:18.wants to be the first in line to sign a new trade deal with the UK
:07:19. > :07:21.after Brexit. Our Sydney correspondent has been finding out
:07:22. > :07:26.exactly what a new pact could deliver.
:07:27. > :07:32.On the hills of New South Wales, could Brexit mean these cattle one
:07:33. > :07:38.day find a way into the British market? Selby Green grew up on this
:07:39. > :07:43.farm and remembers when Australia sold 80% of its beef to the UK. That
:07:44. > :07:49.all changed when Britain joined the U. Brexit rings a welcome
:07:50. > :07:54.opportunity -- EU. It will be a great boon for Australia visit
:07:55. > :07:58.brings up more competition. We note in Australia our quality is very
:07:59. > :08:04.good, very high. We have a lot of things in our favour. Will British
:08:05. > :08:07.farmers want your competition, want your meat being sold? We are pretty
:08:08. > :08:12.confident they will. Because of the quality. Britain already has a taste
:08:13. > :08:21.for Australian wine. It is one of the biggest exports. But Brexit has
:08:22. > :08:26.so far brought a bit of a hangover. Bruce's winery usually sells 100,000
:08:27. > :08:31.bottles a year to the UK. But the price depends on the exchange rate.
:08:32. > :08:35.After the referendum in June, the pound slumped and the Australian
:08:36. > :08:40.dollar rose. Now trade is much harder. I suppose the biggest
:08:41. > :08:43.question in what it will do for us is what happens with currency.
:08:44. > :08:50.Brexit hasn't been good for you so far? God no. Basically the currency
:08:51. > :08:57.has gone down by 20%. So our wines will get more expensive now. As they
:08:58. > :09:01.start having to pay for them at the new rate. For the last decade,
:09:02. > :09:05.Australia has concentrated on connecting with its Asian customers,
:09:06. > :09:09.sunning huge new trade does with its biggest partners, China, Japan and
:09:10. > :09:14.South Korea -- signing huge new trade deals. But Brexit still brings
:09:15. > :09:20.an important opportunity. Australia wants to carry on tying up its own
:09:21. > :09:23.deals, while there is little prospect of a new world trade
:09:24. > :09:27.agreement on the horizon. That story has been going on for decades and
:09:28. > :09:31.does not look like it will proceed. It is at a glacial pace and most
:09:32. > :09:37.have been up on the world trade or the processors. -- organisation
:09:38. > :09:43.processes. That is why Australia has opted for these bilateral processes.
:09:44. > :09:48.As Britain choose over what the terms of Brexit will be, there are
:09:49. > :09:49.plenty of Australians hoping it is a part that brings new business there
:09:50. > :10:00.way -- chews over. Singapore exchange's takeover is
:10:01. > :10:05.rich in the final stages after approval from the British regulator.
:10:06. > :10:09.The acquisition is meant to be completed by the middle of next
:10:10. > :10:15.week. The news comes as SGX announced a fall committed the same
:10:16. > :10:21.time a year ago. A quick look at the markets. The Nikkei is opening up
:10:22. > :10:26.slightly taking its cues from the US, where we saw gains on Wall
:10:27. > :10:28.Street. That is it from this edition of Asia Business Report. Thank you
:10:29. > :10:43.for watching. You are watching BBC News. The top
:10:44. > :10:50.stories this our hole Hillary Clinton and Donald Trump meet in Las
:10:51. > :10:51.Vegas in just a few minutes for their third and final presidential