Browse content similar to 20/10/2016. Check below for episodes and series from the same categories and more!
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Sparks fly over the US economy - but will it really affect | :00:00. | :00:20. | |
We continue our look at the booming gig economy. | :00:21. | :00:34. | |
Also in the programme the presidents of China and the Philippines meet | :00:35. | :00:44. | |
Our team in the region will have the latest. | :00:45. | :00:48. | |
We start with the US election - and that third and final debate | :00:49. | :00:53. | |
overnight between presidential hopefuls Donald Trump and Hilary | :00:54. | :00:55. | |
overnight between presidential hopefuls Donald Trump and Hillary | :00:56. | :00:57. | |
According to a recent poll the economy remains the biggest | :00:58. | :01:01. | |
But how healthy is it - and how will it influence | :01:02. | :01:07. | |
According to the latest figures from the US Census Bureau - | :01:08. | :01:12. | |
household incomes rose 5.2% last year. | :01:13. | :01:14. | |
That was the first real increase since before the financial | :01:15. | :01:20. | |
Hispanic Americans actually saw their incomes rise faster | :01:21. | :01:25. | |
than whites, Black Americans slightly slower, but all | :01:26. | :01:28. | |
This could be seen as positive for Clinton - | :01:29. | :01:33. | |
she's seen as inheriting the Obama legacy. | :01:34. | :01:36. | |
Take a look at the amount a white household earns - compared | :01:37. | :01:43. | |
Donald Trump has argued the Democrats have failed both | :01:44. | :01:54. | |
groups - these figures could be seen as backing that up. | :01:55. | :01:57. | |
1.4 million people found permanent jobs last year. | :01:58. | :02:02. | |
The Democrats say the Obama years were the longest streak of job | :02:03. | :02:05. | |
Donald Trump has criticised the quality of jobs created. | :02:06. | :02:11. | |
Here's a figure that's difficult to argue with though. | :02:12. | :02:14. | |
43.1 million Americans were living in poverty last year. | :02:15. | :02:18. | |
That's a slight improvement on the previous year but still five | :02:19. | :02:24. | |
million more than before the financial crisis. | :02:25. | :02:30. | |
Ironically neither side has talked much about poverty. | :02:31. | :02:33. | |
But poor people are far less likely to vote than well off people. | :02:34. | :02:36. | |
Here's how the candidates clashed over the state of the economy. | :02:37. | :02:48. | |
I propose that we invest from the middle out and the ground up. Not | :02:49. | :02:55. | |
from the top down. That will not work. That is why what I have put | :02:56. | :03:00. | |
forward will not add a penny to the debt what is the sort of approach | :03:01. | :03:04. | |
that will enable more people to take new higher waged jobs. We are seeing | :03:05. | :03:09. | |
an increase in incomes and we have had a long string of increasing | :03:10. | :03:14. | |
jobs. We must do more to get the whole economy moving and that is | :03:15. | :03:18. | |
what I believe we will be able to do. I just left some high | :03:19. | :03:24. | |
Representatives of India. They are growing at 8%. China grows at 7% and | :03:25. | :03:29. | |
that is a catastrophically low number for them. We are growing, our | :03:30. | :03:35. | |
last report came out and it is around 1% and there think it is | :03:36. | :03:39. | |
going down. Last week, at the end of last week, they came out with an | :03:40. | :03:44. | |
anaemic jobs report. A terrible one. In fact I said is that the last jobs | :03:45. | :03:49. | |
report before the election? Because if it is a should win easily because | :03:50. | :03:52. | |
it is so bad. Megan Greene, Managing Director | :03:53. | :03:53. | |
and Chief Economist, You are from Boston and you will be | :03:54. | :04:01. | |
returning home to vote before election day. What is your take on | :04:02. | :04:06. | |
the economy? There was nothing new. I thought the whole section on the | :04:07. | :04:11. | |
economy was disappointing, including some of the questions about how | :04:12. | :04:15. | |
stimulus had led to lower growth which is not the case at all. We | :04:16. | :04:20. | |
just saw a clip of Donald Trump complaining about the last jobs | :04:21. | :04:25. | |
report which was pretty good so I don't know what he is complaining | :04:26. | :04:28. | |
about. They are relying less on trickle-down economics so they want | :04:29. | :04:33. | |
to put money in the hands of the middle on the lower classes because | :04:34. | :04:37. | |
they are the ones who will spend it. Economically that is right and there | :04:38. | :04:40. | |
is nothing really new in this section. Hillary spoke of all the | :04:41. | :04:44. | |
policy she has discussed before and Donald Trump did as well but he was | :04:45. | :04:49. | |
a lot left it out and spoke about India and China. He said we could | :04:50. | :04:55. | |
hit five or 6% growth but I think our potential growth is around 125%. | :04:56. | :05:00. | |
When he spoke about India and China and the fact that there are | :05:01. | :05:03. | |
economies were booming and the fact that the country America have lost | :05:04. | :05:07. | |
so many jobs, so much work to those kind of economies because of the | :05:08. | :05:09. | |
poor administration of previous governments. I don't quite | :05:10. | :05:13. | |
understand how he would change that scenario when the future. He is | :05:14. | :05:18. | |
correct that we are adding jobs in low income sectors. That is not | :05:19. | :05:22. | |
because of the previous administration. That is driven by | :05:23. | :05:25. | |
global factories. There is a massive oversupply of cheap labour globally | :05:26. | :05:29. | |
that is keeping pressure off wages. There is not a lot of wage growth. | :05:30. | :05:33. | |
Also we consume a lot more services than goods. Goods are a high | :05:34. | :05:39. | |
producing sector. So, you know, in 1950 the US confirmed to third goods | :05:40. | :05:46. | |
one third services. That is now reversed. It is a trend we can not | :05:47. | :05:50. | |
lame on the last administration. They argue about trade and Donald | :05:51. | :05:54. | |
Trump is constantly criticising what Bill Clinton agreed to years ago. | :05:55. | :06:00. | |
When it comes to trade it is not clear what either will go for, is | :06:01. | :06:04. | |
it? If they get the job. That is true. There are few areas in which | :06:05. | :06:09. | |
the President has executive power. Trade is one of them. If we took | :06:10. | :06:13. | |
what they said about trade at face value it is clear that neither | :06:14. | :06:17. | |
candidate is as in favour of free trade is the current administration | :06:18. | :06:21. | |
and that is worrisome for growth. Can you take what said at face | :06:22. | :06:27. | |
value? Hillary Clinton has come out against TTP but in the past she has | :06:28. | :06:31. | |
been in favour so maybe she will flip-flop again. Donald Trump has | :06:32. | :06:35. | |
been protectionist in his rhetorical Will he implement policies? I think | :06:36. | :06:41. | |
it will tip the US into recession if he did so I think that he will back | :06:42. | :06:51. | |
off. We will have more in the debate later in this half-hour. | :06:52. | :06:52. | |
All this week, we been hearing from the workers and entrepreneurs | :06:53. | :06:55. | |
In the Europe and the US, up to 30% of the working-age | :06:56. | :07:00. | |
population earn some form of income through freelance service providing | :07:01. | :07:03. | |
But it's sparked fierce debate about the winners and losers. | :07:04. | :07:06. | |
Viktor Nyics, originally from Hungary, is a part-time driver | :07:07. | :07:09. | |
He is also the founder of a tech startup. | :07:10. | :07:12. | |
He says he likes the flexibility of being able to drive for Uber | :07:13. | :07:16. | |
I was always a creative person. I run a tech start-up and we are very | :07:17. | :07:30. | |
busy. Sometimes I can't drive for days. Sometimes I think all week I | :07:31. | :07:36. | |
will drive and I will make some cash. I love people, to be honest. I | :07:37. | :07:41. | |
enjoy many of the passengers in their company and when I get paid | :07:42. | :07:48. | |
for my time that is the icing. I have people pay for my petrol and I | :07:49. | :07:52. | |
do my business is I want to. All when I go away I don't need to ask | :07:53. | :07:57. | |
for permission. Is it a case I don't work? I don't want to be owned by a | :07:58. | :08:04. | |
company. I don't want to be ruled by a company. I want to do my projects, | :08:05. | :08:10. | |
I want to achieve my goals, build my own business. Live my life and run | :08:11. | :08:14. | |
my life as I see fit. I don't want to be asking for permission to go | :08:15. | :08:19. | |
for holidays or do this or that. I don't think that will be the future | :08:20. | :08:25. | |
of employment at all. What's more about that on our website. Let's go | :08:26. | :08:29. | |
to Asia where the Chinese president is hosting the Philippine president. | :08:30. | :08:34. | |
You can see them greeting each other behind me. Relations between the two | :08:35. | :08:38. | |
have not been great to see the very least. They locked in a territorial | :08:39. | :08:43. | |
dispute over the South China Sea. They are, hoping to improve trade | :08:44. | :08:47. | |
relations during this meeting. Let's go to our Asia business hub to find | :08:48. | :08:51. | |
out more about this. What is going on? How likely is it that they will | :08:52. | :08:56. | |
make an agreement on trade issues? It seems rather likely because | :08:57. | :09:07. | |
President Duterte debt is now -- is on a charm offensive seeking support | :09:08. | :09:12. | |
and trade on China by setting aside the thorny territorial disputes. He | :09:13. | :09:18. | |
was greeted earlier today by President Xi with full military | :09:19. | :09:22. | |
honours. At the seed of legislature in Beijing. They are there to | :09:23. | :09:28. | |
oversee of a raft of agreements between their governments following | :09:29. | :09:32. | |
discussions with them China has hailed the visit as a step towards | :09:33. | :09:35. | |
ending years of tensions which really reached a height after the | :09:36. | :09:42. | |
Philippines won a major arbitration dispute against territorial claims | :09:43. | :09:48. | |
in the South China Sea. But did not stop the bank of China agreeing to | :09:49. | :09:54. | |
loans of 3 billion dollars for infrastructure projects in the | :09:55. | :10:02. | |
Philippines. And more significant is the quote from Mr Duterte that it is | :10:03. | :10:07. | |
time to say goodbye to the US as he realigned his country 's interests. | :10:08. | :10:12. | |
That is all. Stay with us and we will discuss in more detail the | :10:13. | :10:13. | |
debate in a couple of minutes. Australia has said it wants to be | :10:14. | :10:30. | |
the first in line to sign a new trade deal with | :10:31. | :10:33. | |
the UK after Brexit. | :10:34. | :10:37. |