:00:00. > :00:15.Now on BBC News, all the latest business news live from Singapore.
:00:16. > :00:28.Asian market reactions. Pyongyang's latest nuclear test and Donald Trump
:00:29. > :00:34.threats. And from a vibrant tourist town to a ghost town. Why did
:00:35. > :00:40.authorities shut down a resort destination in China? Good morning,
:00:41. > :00:43.Asia. Hello, world. Welcome to another edition of Asia Business
:00:44. > :00:52.Report. I'm Rico Hizon. Thank you for joining us. It's a Monday. A few
:00:53. > :01:01.things we are keeping an eye on from the business calendar. We start with
:01:02. > :01:05.China playing host to leaders from the BRICKS grouping, which includes
:01:06. > :01:09.Brazil, South Africa, and other countries, on Tuesday. The Central
:01:10. > :01:14.Bank will look at whether it needs to change the cost of borrowing from
:01:15. > :01:17.a record low of 1.5%. It has been at that rate since August last year. We
:01:18. > :01:23.will begin with developments over the weekend. Just hours after
:01:24. > :01:26.Pyongyang said it tested a hydrogen bomb, Donald Trump tweeted the
:01:27. > :01:29.United States is considering slapping trade embargos on all
:01:30. > :01:37.countries that do business with North Korea. How are the markets
:01:38. > :01:42.reacting? It is the start of the brand-new trading week. We will ask
:01:43. > :01:46.Lisa, our business reporter. We are two minutes into the open for
:01:47. > :01:52.Australia, Japan, and South Korea. What has the reaction been? Markets
:01:53. > :01:59.are down following the sixth test by North Korea. The biggest fallout is
:02:00. > :02:06.South Korea. At the open there was a steep sell-off, negative 1.4% last
:02:07. > :02:14.time I checked. Australia and Japan are down. Investors are taking a
:02:15. > :02:22.risk-off approach, moving money from risky stocks to safe havens. Gold is
:02:23. > :02:25.now trading at $1335. Other safe havens include the Japanese yen, the
:02:26. > :02:33.Swiss franc, and other US government bonds. We are seeing the ten year
:02:34. > :02:38.Treasury yields doing well, even though US markets are closed today.
:02:39. > :02:45.This has happened too often over the past several months. North Korea
:02:46. > :02:53.missile tests, stabilisation, and markets going up again to be given
:02:54. > :02:56.the severity, and similar to Hiroshima, people are wondering if
:02:57. > :03:02.this is a game-changer. If President Trump cuts off all trade ties for
:03:03. > :03:05.countries to trade with North Korea, it will be difficult to implement,
:03:06. > :03:09.but it would be severe, and cutting off the oil supply to North Korea
:03:10. > :03:19.would be difficult as well. North Korea will be the crucial element.
:03:20. > :03:27.The tension is more intense. Thank you so much. Of course, events in
:03:28. > :03:34.Pyongyang overshadowed the annual meeting of BRICKS members in the
:03:35. > :03:37.south China city. I asked what the future holds for these emerging
:03:38. > :03:45.economies that seemed to be drifting apart. The term BRICKS was coined at
:03:46. > :03:49.the turn of the millennium in 2001. It was supposed to exempt the thigh
:03:50. > :03:55.five countries that were supposed to grow relatively quickly. --
:03:56. > :04:03.exemplify. Three of those economies have knows dived, one is slowing and
:04:04. > :04:07.one is growing -- nose-dived. It is difficult to see what connects these
:04:08. > :04:13.countries now. I don't know what this summit is supposed to achieve.
:04:14. > :04:19.It is meant to be a talking shop for Russia, China, India, and... Well,
:04:20. > :04:27.those are the main economies. Then you have South Africa as well. The
:04:28. > :04:31.largest technology show in Europe is currently under way in the German
:04:32. > :04:35.city of Berlin. Over the past two years, titans like Samsung has
:04:36. > :04:43.abandoned the exhibition, preferring to launch flagship products on the
:04:44. > :04:59.rain. That has allowed others to use these exhibits to show their goods.
:05:00. > :05:04.-- on their own. This is the stand out product. There is no
:05:05. > :05:11.sightscreen, no modular design. The focus is on taking pictures and
:05:12. > :05:18.shooting videos. To that end, there are two cameras, a beautiful OLED
:05:19. > :05:32.screen, and is in figure where you can pick and -- an object or person
:05:33. > :05:38.and zoom in. Some have had cutting edge technology. I think LG has
:05:39. > :05:49.always been about choice. It may not be number one, it may not be the
:05:50. > :05:53.thinnest, cheapest, brightest, I mean, there are many things we are
:05:54. > :05:56.not. But one thing we have always been is giving people an alternative
:05:57. > :06:15.choice. There are two ways you can compete with the Samsungs and Apples
:06:16. > :06:18.of this world, cutting-edge features, and like this $400 Moto
:06:19. > :06:21.X4, compete massively on price. Someone who wants a high quality
:06:22. > :06:26.smartphone experience but cannot afford the flagship phones. That is
:06:27. > :06:28.what we provide. In just a couple of weeks, a new iPhone is likely to
:06:29. > :06:34.dominate the headlines. Manufacturers like those here will
:06:35. > :06:44.be hoping they can also make a splash. BBC News. Since the 1980s,
:06:45. > :06:47.China's unbridled development has brought improved standards for
:06:48. > :06:52.millions of its citizens. It has also had issues with its unregulated
:06:53. > :06:59.expansion, especially when it comes to the natural environment. That has
:07:00. > :07:03.led authorities in the south-west to take the drastic step of shutting
:07:04. > :07:10.down an entire resort town. Not everyone is happy. Steve McDonald
:07:11. > :07:15.has more. TRANSLATION: This has usually affected allies. We used to
:07:16. > :07:20.work in hotels. -- our lives. Now we have lost our lives. TRANSLATION:
:07:21. > :07:24.Businesses have closed. The economy has been affected. People don't
:07:25. > :07:29.understand. In the long-term, I think they will. The little hotel
:07:30. > :07:33.behind me has been forced to close, as with all the other small
:07:34. > :07:41.businesses along the for sure. That is because this once thriving
:07:42. > :07:48.tourist town in the lake behind it were being loved too much. --. A
:07:49. > :07:51.victim of success. And with such spectacular scenery, you can
:07:52. > :07:56.understand why people have been coming in to visit. But now China is
:07:57. > :07:58.slowly but surely moving away from the unregulated chaos of the past in
:07:59. > :08:26.order to protect places like this. We have come here to find out why
:08:27. > :08:33.the authorities pulled down the local tourism industry pretty much
:08:34. > :08:43.overnight. We will meet one of the hotel owners.
:08:44. > :08:51.TRANSLATION: We make our living from fishing now. Our income is very low.
:08:52. > :08:56.Of course, we are angry they closed the hotel. Before the closure, rooms
:08:57. > :09:20.would be booked out before the summer holidays.
:09:21. > :09:25.TRANSLATION: Before we put economic develop and the head of the
:09:26. > :09:33.environment. Now we pay attention to both. -- ahead of the. If we keep
:09:34. > :09:53.everything clean, business will be better in the future.
:09:54. > :10:04.Stephen MacDonald in China. And before we go, here is a look at
:10:05. > :10:13.another business development. Steven Mnuchin, the US secretary, says
:10:14. > :10:21.areas hit by Hurricane Harvey may have help delayed. Donald Trump has
:10:22. > :10:28.said it will give $1 billion of aid, but the US is set to hit the debt
:10:29. > :10:34.limit soon. This is one of the costliest storms in US history. $800
:10:35. > :10:39.billion, according to the mayor. Thank you for investing your time
:10:40. > :10:44.with us. I am Rico Hizon. Goodbye for now. You are watching BBC News.
:10:45. > :10:45.These are the