11/01/2017

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:00:00. > :00:00.Katie Rough was found seriously injured in a playing field

:00:00. > :00:13.in the Woodthorpe area on Monday - and died soon afterwards.

:00:14. > :00:24.President Obama says good buy. We discussed his economic legacy in

:00:25. > :00:36.Asia. Trump says hello. We look at possible conflict of interests. Good

:00:37. > :00:41.morning, Asia, hello, world. It is a Wednesday. Glad you could join us.

:00:42. > :00:47.As President Barack Obama prepares to deliver is farewell message in

:00:48. > :00:54.Chicago in less than an hour 's time, in Asia we are reflecting what

:00:55. > :01:01.his eight years in office did for the region. A signature free-trade

:01:02. > :01:10.deal, the Pacific partnership will be scrapped by Donald Trump. I spoke

:01:11. > :01:16.to senior economist. If you look at trade, for examples, trade between

:01:17. > :01:28.developing Asia and the US, it increased by a 30% by 2010 and 2015.

:01:29. > :01:38.Of course, part of this is explained by the economic recovery but it is a

:01:39. > :01:46.positive sign none the less. The official effort to deepen ties, is

:01:47. > :01:50.the free-trade agreement which will celebrate its fifth anniversary this

:01:51. > :01:57.year. Increase in trade between the US and Asia and a rise in investment

:01:58. > :02:04.in US business but there is trepidation about the incoming Trump

:02:05. > :02:09.administration and potentially his protectionist policies and bringing

:02:10. > :02:17.back these businesses from Asia back to the US. That is true. I think no

:02:18. > :02:25.matter who is in power in the US, trade between the US and Asia will

:02:26. > :02:29.remain important. Most Asian economies are export-oriented. The

:02:30. > :02:36.US is the number two destination after China. From the US point of

:02:37. > :02:40.view, Asia is that the region where half of the world 's population

:02:41. > :02:46.lives and it is a great performer so it will be attractive for business

:02:47. > :02:54.and investment in the coming years. Concerns and fears we could see a

:02:55. > :03:00.face-off between China and the US. What legacy did President Obama

:03:01. > :03:06.leave in terms of relations between the Chinese and the Americans? It is

:03:07. > :03:10.a good question. Deepening the working relationship between the US

:03:11. > :03:15.and emerging powers like China was a key element of the Obama

:03:16. > :03:21.Administration and strategy. President Obama has been

:03:22. > :03:26.highlighting that the US - China relationship is the most important

:03:27. > :03:31.bilateral relationship of our time and he has been welcoming the rise

:03:32. > :03:39.of China and I think that is where we will go from there. Donald Trump

:03:40. > :03:43.is scheduled to hold his first news conference on Wednesday since

:03:44. > :03:48.winning the residential election. Chief among the questions is that

:03:49. > :03:56.what he will do with his businesses while his commander in chief. The

:03:57. > :04:06.potential conflicts, start in his hometown of New York city. I am

:04:07. > :04:10.outside 40 Wall St, in front of the building that is managed by the

:04:11. > :04:16.Trump Organisation, effectively making Mr Trump of the landlord.

:04:17. > :04:20.Trouble is, several of the tenants are being investigated by government

:04:21. > :04:26.regulators and, if they are found guilty of any wrongdoing, they could

:04:27. > :04:31.stop operating, which means they will no longer be paying rent to Mr

:04:32. > :04:36.Trump but, as President, Mr Trump could push for more lenient

:04:37. > :04:42.sentences or make the charges go away, effectively ensuring he

:04:43. > :04:46.continues to make money. If we make way further uptown, we find

:04:47. > :04:52.ourselves at Deutsche bank, one of Mr Trump's biggest lenders. The

:04:53. > :04:55.German bank continued to work with him even as several of these

:04:56. > :05:00.businesses went bankrupt. Deutsche Bank is facing billions of dollars

:05:01. > :05:05.in fines from the US government stemming from the financial crisis.

:05:06. > :05:10.Regulators could rule with a softer touch given the bank 's history with

:05:11. > :05:16.President elect Donald come. One., I have shaded to examples of potential

:05:17. > :05:22.conflicts. Move over just a few blocks and you end up at Ground Zero

:05:23. > :05:27.for the Trump business. These conflict of interest and multiplied

:05:28. > :05:32.many times over. Massive global Holdings and international ties mean

:05:33. > :05:35.opportunities for corruption go far beyond New York City is. Foreign

:05:36. > :05:41.countries could question how their treatment of the President 's

:05:42. > :05:46.business interests will impact diplomatic relations. This is a

:05:47. > :05:50.truly unprecedented territory for an American president. Democrats are

:05:51. > :05:57.proposing legislation that will force Mr Trump and his family to

:05:58. > :06:05.sell any assets that could cause any conflict that it is unlikely to

:06:06. > :06:10.pass. German carmaker Volkswagen is set to make a deal with the US

:06:11. > :06:14.authorities over the diesel emission scandal. The settlement comes after

:06:15. > :06:18.the company admitted to fitting out 11 million cars with software that

:06:19. > :06:24.reduces emission under testing to pass controls are then switches off

:06:25. > :06:29.under real driving conditions. As part of the deal, Volkswagen will

:06:30. > :06:35.face Independent monitoring over the next three years. Australian

:06:36. > :06:41.blender, ANZ, has agreed to sell a subsidiary to a Chinese group for

:06:42. > :06:48.the 100 and $60 million as part of its efforts to streamline its

:06:49. > :06:52.business. -- 460 million. The financial institution is also

:06:53. > :06:59.considering the sale of its Australian wealth and life insurance

:07:00. > :07:02.business. Economy will gain speed after turning in its worst

:07:03. > :07:06.performance since the global financial crisis, that is according

:07:07. > :07:10.to the World Bank 's latest forecast. It is tipping growth on

:07:11. > :07:20.the back of stronger commodity prices. I asked how Asia's economies

:07:21. > :07:27.will fare in 2017? China is going to continue with its slowdown. 6.5%.

:07:28. > :07:33.Authorities have done a remarkable job taking this economy growing at

:07:34. > :07:37.double-digit rates to the rates we are seeing now. At the same time,

:07:38. > :07:43.rebalancing has been under way. We see it in servicing. They now

:07:44. > :07:53.account for a large share of output. We look at car balance being less

:07:54. > :08:01.than 3%. All in all, it indicates that despite the risks we see, there

:08:02. > :08:07.is stabilisation - housing market, credit market, you look at those and

:08:08. > :08:11.it is stabilising. All in all, we see the region, especially in the

:08:12. > :08:17.context of China, the orderly slowdown will continue. What about

:08:18. > :08:23.India - will the strong growth continue? They have done quite a

:08:24. > :08:28.number of things, undertaking measures to improve business

:08:29. > :08:36.environment and send a strong message. We expect they will grow

:08:37. > :08:42.and continued to be about 7% in 2017. Some of these reforms are

:08:43. > :08:51.going to bear fruit in the near future, including the services tax.

:08:52. > :08:56.Despite these better growth forecasts, there is also

:08:57. > :09:00.considerable uncertainty regarding the outlook because it has not been

:09:01. > :09:08.able to incorporate President-elect Donald Trump's policies. Indeed. The

:09:09. > :09:13.reason is we do not know what the policies are, what the scope of the

:09:14. > :09:18.policies are. There could be tax reduction on the corporate income

:09:19. > :09:25.and personal income side. If we simply focus on those tax cuts it

:09:26. > :09:29.will translate into high growth in the US as well as in the global

:09:30. > :09:34.economy. Having said that, there are many caveats that could change the

:09:35. > :09:48.outcome and could have a negative impact. An explanation of the growth

:09:49. > :09:55.forecast for Asia in 2017. If all we do, a look at the markets and the

:09:56. > :09:59.region, as you can see, all green arrows, recovering some ground from

:10:00. > :10:14.Tuesday. It was led by healthcare and consumer goods. Hong Kong just

:10:15. > :10:20.opened for trading. Over role, a positive mood this Wednesday trading

:10:21. > :10:29.session for Asia. As for Wall Street, energy stocks fell following

:10:30. > :10:31.a drop in crude oil prices. Thank you so much for investing your time

:10:32. > :10:32.with