japan is responsible. there's also japan's mission rooted in its own history. other than -- our nation has had no other resources to speak of. but japan devoting itself to reaping trade composer japan succeeding in realizing growth that was called a miracle even though it lacks the resources. that very first country to prove through its own experience the principle that exists between trade and growth, principal has now become common sense was japan. japan has now taken on the mission of imparting to the world the benefits of trade. i have at times risen above debates waving the flag in free trade. there has been no greater joy for me than when tpp 11 took final shape and would quickly approved by us. in addition, japan and the european union have signed an economic partnership agreement that is of the scale and scope with a special mention in world history, but that said we must not be complacent. i must drive the efforts of a notch. in addition to japan commitment to the world trade organization which was given i will make all our efforts toward negotiations

to warn japan, try to reason with japan, deal with japan to get it to stop doing what it was doing. as i mentioned, particularly in china where japan has been at war since 1937. millions of people were killed and wounded in china and we were an ally of china. in july of 1941, roosevelt created a system by which, it's a little complex, but essentially we stopped shipping oil to japan as a way to protest their actions and as retaliation for their bad behavior. that oil embargo hurt japan deeply. and people have often suggested, some people have suggested, well , if roosevelt had not embargoed their oil, they would not have attacked. they were responding to a life-threatening economic reality. i've always found that argument hard to follow. because you're saying the problem here was not the misbehavior, but the response to the misbehavior. japan was a militaristic nation absolutely bent on creating its own sphere of influence in asia. in one sense, the goals were quite noble, there were still vast european colonies in the far east. white people still controlled way too much of asia, th

miyuki: that is always a difficult point for japan. it still has this strong image of being an export, despite the fact that if you compare japan othersrest of the world, have export ratio is higher than japan. stagnation,ng the exports were the only area of growth for japan. verye's image of that is strong in the mind of investors. consider japan has probably ended its phase of contraction and has began to expand, people often forget that for a country suffering from deflation, its nominal gdp. we have had 21 consecutive quarters of year on year nominal gdp growth. i think that indicates the growth for japan has returned. we should be looking at companies, not just exporters, but companies that benefit from the domestic improvements in the economy. shery: thank you so much. stick around, we are going to preview psmc earnings reports. more to come on "daybreak: asia," this is bloomberg. ♪ haidi: this is "daybreak: asia," i'm haidi stroud-watts in sydney. shery: i'm shery on in new york. let's get a check of the latest business flash

drew closer to japan. the shapiro's were moved by the japanese government from yokohama to tokyo, where the family experienced deadly bombing raids. mr. shapiro: the year 1945 began with the familiar sound of air raid sirens which woke me shortly after midnight. i turned on the radio to hear an announcement that an enemy plane had been seen flying toward tokyo. from my bed, i saw the aircraft smashing. my 14th birthday, january 5, fell on a friday and i woke to the sound of bombs falling all around us. by the time i was dressed, i could see flames in the distance. looking up, i saw japanese fighters flying to meet the b-29 super fortresses. i saw one of them go down in a blaze of fire, even as anti-aircraft guns were blazing. i heard a loud noise and saw a large metal object dropped into the compound in front of my house. it turned out to be a shell for my 12 millimeter american canon. a short time later, to air raid wardens arrived and demanded we turn it over to them. after an argument, we handed it to a

japan's market now by almost 1% and allup by japan's market now by almost 1% and all up by zero wall street also had all up by zero wall street also had a present day. all in positive territory. that is it for this edition of asia business report. for watching. this is bbc news. the top stories this hour: the fbi steps up its hunt for whoever is behind a series of crude bombs sent to leading democrats and critics of president trump. japan's prime minister shinzo abe is in beijing for the first bilateral talks between the two countries in seven years. 4000 jobs are at risk after the department store debenhams said it wants to close 50 shops over the next five years. our business correspondent emma simpson reports. this is debenhams' glossy vision of the future, pulling people in by making shopping fun, from blow—dries and beauty treatments... to make—up tutorials and gin bars, but there's sobering news today. it wants to close 50 stores in a radical restructuring. our plan is very simple. we want to have fewer, but better stores. we want to improve our shopping experience. we want

in recent years, japan has had fraught relations with china. the visit comes as japan's long—time ally and security guarantor, the united states wages a tariff war on china, which is japan's biggest trading partner, while occasionally tossing ominous threats tokyo's way, as well. here's some of what abe said. translation: these days, japan and china play an essential role not only in the economic development of asia, but the whole world. the world has never been so interconnected, and the kind of problems that cannot be solved by one country are increasing. so i think we have come toa time increasing. so i think we have come to a time when china and japan should work together to contribute to world peace and prosperity. our tokyo correspondent rupert wingfield hayesjoins me now. the two leaders will be meeting later today, the last time they met in 2014, they had that very awkward handshake. none of the issues that they had back then like territorial disputes have been resolved, so what changed their minds? is itjust donald trump? i think tha

you're saying that japan is basically self protecting here. well japan is looking at both the united states and china and trying to figure out what's the best balance between these two states and as you and your segue mentioned depends biggest trading partner today is china and that relationship will continue to be important but japan's a security partner without comparison is the united states but the united states and japan also have many overlapping institutions and quote including a liberal democratic institutions including. a focus on freedom of press a focus on human rights and these are very important bonds between the two stakes so japan is trying to figure out how they can continue to have good relations with both of these states and at the same time play a role in ensuring that. a negative spiral inside the u.s. relations doesn't affect japan's trading relations and security partnership with us so what does china get out of this so the benefits purely economic. well china is looking for to take some of some of the heat off the off ch

japan's prime minister hails and historic turning point for his country and china as the leaders of asia's two biggest economies forge closer ties plus. i'm wayne hay in palo indonesia where it's been almost a month since the earthquake and tsunami so many people are still missing tens of thousands are homeless and there's ongoing concern for the welfare of children the most vulnerable in the aftermath of a disaster. the . president says that investigators have more evidence in the killing of jamal khashoggi which will be revealed when the time comes in an address to the ruling ak party in ankara. the one described saudi arabia's explanations for the journalists death as childish he's demanding more information about the operation from riyadh. of course there is other information and evidence that we are holding and they will be used when the time comes but there's no need to rush because in the first instance the saudi officials have to explain who killed. on monday they sent the chief prosecutor to stumble. they will meet with our chief prosecutor and have discussions. a check is politic

you know, in china, sentiment against japan has kind visit? you know, in china, sentiment againstjapan has kind of turned on and off by the communist party. if you turn on the television in china at any you turn on the television in china atany time you turn on the television in china at any time of the day, flicked over the channels, you will find a drama about world war ii. just to remind people of what happened, japanese forces invaded china, etc. that said, so many chinese people want to go tojapan on said, so many chinese people want to go to japan on holiday these days, so there is this very strange relationship. and i think unless there a reason to dial up the anti—japan sentiment, things are improving in the minds of most ordinary chinese people. you mentioned those protests, protests in china don't go ahead without some sort of official approval. and the fa ct sort of official approval. and the fact that we're not seeing that now does seem to show that the chinese government wants to try rebuild relations with japan, and try to smoo

abe says japan and china are at a historic turning point. tensions between beijing and washington continue to simmer. we will go live in this addition. turkey says it has more information and evidence related to the murder of jamal khashoggi. demandingresident is answers to tough questions. u.s. authorities conduct searches to find the culprit and motive behind the recent mail bomb plots. japan's prime minister is on a state visit to china, standing chinese premier. shinzo abe said they were at a turning point. they have signed a host of agreements. trtrade tensionsns between beijg and washington continue to simmer. the world has never been so interconnected. the problems that cannot be solved by one country are increasing. china and japan should work together to contribute to world peace and prosperity. china and japan have both provided important opportunity for development and support and boost each other's growth. >> we go across to our correspondent in beijing. one-ish and lobby looking to get out of this visit? >> chinana happens to be

bank of japan has been buying stocks e.t.f. equities all sources but again to put this into context what we've seen with even omics and if they're on winding the b.o.j. has been buying mostly japanese government securities and short term bills but also equity e.t.f. the japanese reads the real estate investment trusts and corporate bonds japanese government securities are the largest asset class on the balance sheet by now the b.o.j. has acquired about fifty percent of all outstanding japanese government debt from about fourteen percent and late two thousand and twelve this means that the government prints money the yen then they use that money that they print to buy back their own bonds and their own stocks and that's called debt monetization and if you look up definition of banana republic it will say this is a frickin banana republic because a they're buying their own debt but in japan they call that quantitative easing not that monetization with the canard that well it's temporary but it's been thirty years now and it's nev

china is japan's biggest trading partner the volume of two way trade could grow even further given the number of business deal signed here this is a relationship marked by historical hostility and rivalry but both sides agreed to work towards easing tensions in the east china sea where japan and china claim sovereignty over a cluster of tiny uninhabited islands. that dispute led to a wave of anti japanese riots in china six years ago but on friday all that was forgotten. the china is awaiting two further strands of the positive interactions as to pan yan she learn from history and the face forward to was the future. the present was also on our mind during his talks he said japan was paying close attention to human rights in china increasing uncertainties in the two countries respective ties with the united states are pushing japan and china closer shinzo abhi worries about the united states declining presence in the region while president xi jinping hopes that japan can help ease the impact of china's escalating trade war with the united states japan is looking at both the united state

can help ease the impact of china's escalating trade war with the united states japan is looking at both the united states and china and trying to figure out what's the best balance between these two states depends biggest trading partner today is china and that relationship will continue to be important but japan's a security partner without comparison is the united states.

how muchs pointing out bank of japan can buy. to that.erously close it's no longer a feasible bank of japan. shery: getting out of the q.e. now, if the governor focuses on the yield how much riskier is this strategy to slowly increase the yield gradually instead of cutting down on asset purchases? >> well, riskier is this you know, i don't want governor kuroda, it's too early to think about the exit strategy. as we talked about earlier, at the n is still 0.4% core. so i think b.o.j. -- many people that, but him saying then he is right in saying. saidving said that, having that, well, exit has to happen and i do think rather than the i think bank of japan the curve slightly, slightly upward. is a sensible strategy rather than focusing on quantity. haidi: i want to get your views recovery in particular, the demand for japanese goods. want to offer this chart, it didn't bounce back following the tsunami. after 21 months in growth and export, the data yesterday, have reached a peak when it comes to how the trade picture is to look fo

can help ease the impact of china's escalating trade war with the united states japan is looking at what the united states and china and trying to figure out what's the best balance between these two states depends biggest trading partner today is china and that relationship will continue to be important but japan's a security partner without comparison is the united states but united states and japan also have many overlapping institutions so in china japan's prime minister is having to perform a delicate balancing act adrian brown al-jazeera beijing. and during his visit to beijing shinzo are both said he's ready to work with china on the issue of north korea and south korea have agreed to remove some gun posts though along the peninsula the demilitarized zone eugene young has more from seoul. the two koreas held general grade military talks at the northern side of the pond when john on friday this comes just one day after the two koreas and the us led un command a removed all fire arms and guard posts from within the same area. and it feels great to see with my very own eyes that

but japan now up 7, catching up. em till down 10% this year japan is one of the strongest bull markets here not getting enough attention we like the internals, the fact that it's reemerges as leadership. >> chis comes over. >> has to. >> please stephanie brings the chair in yes free kelly all right. >> welcome. >> chris, would you rather >> oh. >> favorite game. >> the nikkei or the apnea 500. >> the right here i could give more to the nikkei. >> really. >> >> looking over the next couple years we are making a call here, i think you're going to have japan challenge the old highs from '89 it's all about tina. ten aire has moved it was a u.s. story the last 7 or eight years it's moved to japan. earnings yield in jpen 6%. dividend yield 2%. jbgbs, 13 basis points. >> can china fall apart and japan ralphs >> think back to 2014, 2015, 2016 nikkei went down 35% that hasn't happened here. either one of two things is happening. japan is decoupling from rest of world or the slowdown in china is maybe not as bad as we think. i

between japan and china -- hard to say. for japan, the relationship with the u.s. is of utmost importance, especially in terms of security corporations. they are a very important economic partner. issues of trade, we have a lot of common ground with china. shery: you have a strategic diplomatic balance of power happening in the region. goes back to japan and then he meets with the prime minister of india. there is a rivalry between india and china. how do you balance this regional power dynamic? rivalry.s not a simple many countries have very good economications or relations with china. but on the security front, there are a lot of issues. having to confront china on need to getts -- we the benefits out of our relationship. this is a very difficult game played at the moment. shery: professor, thank you. for a look at the stories trending across the bloomberg, -- mberg scriber's buscribers were reading about google trying to assure executive'ster an $90 million exit package for personal misconduct. and why basketball legend michael jordan is taking a leave to e-spor

a quick breakfrom japan ok. a quick break from japan to look at the biggest video games released of recent times. we got react as to the team behind it. red dead redemption two gives players access to the old west. i am waiting for someone to the old west. i am waiting for someone interesting to turn up. rockstar are huge deal. they are behind the gta series. even if you have never touched a controller, you know what grand theft auto is. you know what grand theft auto is. you know that this is the biggest entertainment product. —— grand theft auto. grand theft auto made $6 billion. that leaves every thing else in the dust. it is so big it has had to be greeted with nine different studios and for different countries. rockstar north here in edinburgh is the largest of these tutors working again. not many get a glimpse inside the building. security and secrecy is tight. well, there is a rare treat? located in there is a rare treat? located in the former home of the scotsman newspaper, they're so secretive aroun

it targeting funds linked to japan's ya kuza. it has targeting funds linked to japan's yakuza. it has put four individuals and two companies tied to the gang on its sanctions blacklist. these are the companies. the tank to make sanctions freeze any assets of those named which are under us jurisdiction. they also prohibit us companies from dealing with them. i spoke to an investigative journalist who spent 25 years covering japan's criminal underworld. i began by asking about the companies blacklisted. these two companies, yamaki and toyo shinyojitsugyo, basically manage ya kuza yamaki and toyo shinyojitsugyo, basically manage yakuza properties. injapan, as you know, the organised crime groups are pretty much out in the open. yamaki has been around since 1916 and is one of the longest—running japanese businesses around. so the companies represent their financial enterprises, and if you want to choke off the yakuza operations you need to target the companies. so do you think they are going to come under more scrutiny in the future by the americans and other countries that are l

japan is on the cusp of a tv first. this is sharp's very impressive second generation 8k tv on sale next month. but the real news is that the broadcasting of 8k starts on the ist of december this year by the national broadcaster, nhk, so there will be something to watch. oh, no, hang on. now another thing that might be of interest to japan's ageing population are these. they may look like normal glasses, but if i press the touch sensor on the side, you may have seen a little flash, and what that was was liquid crystals inside the glasses shifting orientation and changing the focus, meaning it's easier to see things close up, just like bifocals. now, the upside of these is that you can then turn them off and goes back to your regular prescription. and we'll finish with something mind blowing, eye—popping, and jawdropping. i can't even walk in. it's messing with my perspective. this is borderless. the latest otherworldly experience from digital art collective teamlab. this amazing space is their first permanent home in

and his unwillingness to address japan's wartime on the other hand japan also is very unhappy about china's military behavior in the region its assertiveness so post the ties have been very tight very. restrained during the last five years and so this is really a step forward and both sides have to overcome a bit of their of their restraints so. both countries remain very important economic partners so it's a natural step for them to try to get to back together again and it is as you said i mean they are economic bought doesn't trade is a always they big on their agenda when they talk but me on that given the differences it just talked about radio you see this relationship going politically because there's still reason rivals. well it's a kind of detente it's. trying to get back to normal both countries have a need to get back to a normal due to the new situation that has evolved since donald trump has taken office in the u.s. so china donald trump is a threat economically they are looking to two to strengthen their ties with other economic partners and japan might not be able to rely on am

japan, with regards to there will always be overshooting there. it is interesting that the exporters were not really in there. partly because of a fear over possible trade tensions. when they start reporting earnings, they might actually have a lift there, too. there might be a little bit more room to grow. we have seen japanese corporate's doing well on the earnings front. righters were not at play now, which is rare for the japanese market. given that we have only to rely on political headlines going forward for trade, is this the right play? let's focus to mystically. domestically. sheryl: this is a really good question. it is very hard to anticipate. with regard to trade, we don't know what the trump administration's endgame is. what are they trying to get, especially with china? are they trying to go for zero trade deficit with china? it would still mean a trade deficit with the rest of the world. we are not going to solve america's trade deficit problem. a lot of it depends on the expected endgame for the u.s. but having looked at that, i st

and now back to japan. here at the research labs of ntt docomo, the country's largest mobile network operator, something new is about to take off. it's big, flashy, and it's rather noisy. what could it possibly be? oh, it's a flying display! yes, this is the world's first spherical drone display. the externalframe is made of eight rotating strips, each consisting of 320 leds, which when spun rapidly create the illusion of a solid sphere. we would like to make a new special platform to present our information anywhere in the sky, for advertisements, or entertainment, or guidance in a disaster. of course, everything about this technology will have to get smaller, more reliable, and longer lasting before it becomes useful. at the moment, this thing can stay up for a maximum of three minutes. ok, well now it's time to pop back to ceatec to see what emily and dan have for us this time. this is notjust a great ride. it's one of the first systems to use and an 8k projector above us onto a curved mirror to give us

this of course to address japan's rapidly ageing population. all right, thanks ageing population. all right, thanks a lot, interesting. sharanjit there in our bureau in singapore. now let's brief you on some other business stories: ibm is buying the software company red hat for $34 billion. it's ibm's biggest ever acquisition and is part of the firm's efforts to expand its subscription software offerings. ibm hopes it will help it to catch up to amazon, microsoft and alphabet in the rapidly growing cloud business. and we have mentioned this: the uk's finance minister, chancellor philip hammond, is preparing to present the country's last budget before brexit. earlier this month, prime minister theresa may promised an end to austerity, and mr hammond will be under pressure to spell out how that will work. shares in hitachi chemical have tumbled during trade in tokyo. it follows reports injapanese media that the firm falsified inspections for a material used in semi conductors. the material is used to protect chips from scratches. so that report c

japan has a lwa ys getting a lot better. japan has always been an ardent investor in india but at the same time, as you just reported, we mutually have a problem and that's aggression from china and in that sense there is a lot we can incorporate, especially in the situation where we are seeing this regression towards conservatism very much led by mr trump, which is very much led by mr trump, which is very u nfortu nate for very much led by mr trump, which is very unfortunate for the free world so basically we need to unite a lot stronger, especially considering the protection of our benefits in the future in southeast asia. what can we expect from this military logistics pact they are due to sign? in terms of economic repercussions, what will we see? two things, one is the re—confirmation that we are basically tying up together, which is most important, assurance, secondly, a lot of the economic movements, for example infrastructure in north—eastern india asa infrastructure in north—eastern india as a lot to do with t

this story japan's prime minister hailing a historic turning point with china. and its controversial former president mahinda rajapaksa returns to power we'll look at what position he's in this time. hello there we see some deadly flooding in parts of russia recently mostly is being in the southwest of the country where the worst of the weather has been these pictures are from around the black sea so in the sochi region you can see just how bad the flooding is there it's actually destroyed part of that bridge now this system is all part of the same system that gave us the flooding in jordan as well you can see the showers out of that and it's all part of this huge swirling mass that's also given us some wet weather and snow over parts of turkey really has turned quite wintery for some of us here particularly in the east that system hasn't quite finished with us just yet it's working its way steady eastwood still still getting some heavy downpours i think the heaviest rains as we head through saturday will be around to the north of terror on an old site for the s

hello there we've got rain gathering over many parts of japan at the moment in fact if you take a look at the satellite picture we can see that system as it gallops its way eastwards out of china across the korean peninsula and towards the eastern parts of russia so that system then continues to put itself together as we head through wednesday still some shop showers here also some snow mixed in with that as well and that extends all the way south towards us in japan say kiyoshi you see most of the wet weather here that system then pulled its way further eastward still as we head through thursday so most of us in japan are expecting a day of roll the heavy rain meanwhile towards the west it should be fine and dry temperatures not too bad there but i will get to around eleven am force in beijing will beat around ninety other weather across the southeastern parts of china as head just lying across the southern areas still just about making its way across shanghai so expect a good deal of cloud here they could be one or two showers around as well that system then continues southwards as w

japan is not far off. you see a little buying but investors are long way from being bullish on japan. the problem is japan you have no earnings growth. we think globally, valuation will come down as the fed keeps tightening. volatility maybe picks up. the problem with that low earnings growth number in japan, it gives you a very low insurance policy with multiples coming down. governance reforms under the surface. a bit more upside in japan. because there's no growth in japan it also means the boj will not stop easing. which also means because you have weaker yen helping giant exporters. ben: we think the yen is in the right place. you are right, if it were to weaken it would help japanese corpus a lot. the all-time high is the yen weakness. again, it is very difficult to see how you get much more earnings growth out of japan. obviously there are risks for that. it is coming from industrials, tech, things very exposed to the trade agenda potentially getting worse. shery: you were neutral or selectively --

and japan. is that enough story to going to japan? michael: i would argue that is a key point. japan has been out of favor with portfolio construction and -- buying favor -- things out of favor with global investors might be a good idea. to some extent we see more portfolio rebalancing going forward. david: we were talking during the break, and perhaps someone might be interested in this. you talked about tencent and tells you a lot more about the company itself. can you talk more about that? michael: global equities, the big narrative is bonds are achieved because of price. , that hurt mentality, and some of the consensus turning points awfully -- often wrongly positioned. tencent hits 98% by ratings when the stock went down in a straight line 40% down. it is a clear example of what is considered a trout -- crowded trade. unwind, it can be painful to investors. in those instances, it is the wrong strategy. yvonne: yvonne: a quick check of the business flash headlines. goldman sachs bought half $1 billion worth of shares in a chinese company, but the start tumbled after its lis

repairing relations between china and japan. and in the business briefing. a disappointing sales forecast for the christmas season sent amazon shares sliding on thursday night. and google's parent alphabet‘s results disappointed as well. a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. the philippines has reopened its famous holiday island of boracay after it was closed to mend decades of harm caused by unchecked development. is this the future of tourism for the world's beauty spots? let me know your thoughts using the hashtag #bbcthebriefing police in the us have intensified their search for a serial bomber, after more suspect packages were sent in the post. ten have been discovered after being sent to prominent critics of president trump, two weeks before the us mid—term elections. investigators believe some of the pipe bombs were posted from florida. let's go live to washington now and our correspondent chris buckler. this is a nationwide investigation and all auth

foreign direct investment from japan and more trade which apparent. a few moments steps back with more weather for you and also still ahead here on the news our. sins continue north through mexico on which the u.s. is concerned extra troops to its southern border but some americans offer a helping hand. there's a close call for the boston celtics the brunt of the action of the sports news in about twenty minutes. through trying to brave you. free since it's a. hello there well we were hearing about the flooding in jordan and you can see from the satellite picture behind me that it's an enormous system that's given us that disastrous weather you see there there's jordan but this is the huge area of stretches across the arabian peninsula and all the way up into the southwestern parts of russia where we've also seen some deadly flooding these pictures are from the sochi region you see just how much water we've had there and this war and other places that have seen some rather disastrous weather as well you can see over parts of turkey there's been some h

japan has. the profitability has improved out of all comparison. you look at profitability for japan going up it will be 70% higher than any point over last 65 years the only reason the market is up is because the bank of japan is buying >> corporate and the japanese market by every single measure is the cheapest developed stock market in the world but it is a market that has burned people many times over the last 20 or 25 years do you think people don't believe it because they've been hurt by it >> they think the market only moves because of the movement in the currency the correlation is there this market is about corporate profits. it's nothing to do with these big mac crow moves it's a country that's finally got its act together on profitability. >> do they why do you think that, nicolas why do you think this time they have a demographic crisis. women are barely in the work force. they're leaving half their educated work force literally in the home do you think they're finally going to change? >> no. you have that absolutely the wrong way aroun

all this has stunning implications for japan's economy. in less than 50 years, the working population could shrink by nearly half. already firms complain of labor shortages and the ratio of job openings to applicants has reached a 40-year high. all this means japan could lose a percentage point of gdp growth over the next three decades according to the imf. some proposed solutions include worker robots or a free immigration system. but there's one woefully underused resource right at home. women. women in their prime have actually flooded the workforce in japan in recent years. the female labor force participation rate has now surpassed that of the u.s. but as a recent report notes, almost 32% of prime age female workers in japan are part-time. compare that to 18% of female workers in that same age group in the united states. and less than 5% of japanese men. so why is this happening? d d disdiscrimination. japanese women complain of being on a mommy track instead of a work track. part of the problem is japan's work culture which is notori

japan is going through a lot of my cultural changes right now we've got to walk me through. like childbirth rate is decreasing. our temple clean is also decreasing. with birth and i. was. with her. so we have today is a traditional thing i've already we're having a she day and we have temple members together it's a way to have communication socialize with people before the end of the earth itself was a little girl in there also. there is temple families wanting me to take over the temple. and these people who are waiting for me at the grounds in grandpa's day truly believe i will take over the temple and i don't want to disappoint them but i know that i didn't. do it all right from the sixth grade i went to this national school in kobe japan and being there all my friends were from all different parts of the world it allowed me to accept how people are and even if they have different backgrounds i appreciate that. this is a if you know poor. joe's sexes. during my gap year after high school i asked my friend bar owner to let me spin for him and from there it just caught on w

well japan's prime minister says his country is standing at a historic turning point with china. has paid a rare visit to beijing where he held talks with china's top leadership despite growing trade ties in recent decades japan and china have had a strained relationships at the end of the second world war adrian brown reports from beijing. a red carpet welcome for a japanese prime minister in beijing would have seemed dumb thinkable just a few years ago but now the leaders of asia's two most powerful economies are talking rather than threatening each other in discussions with china's premier league shinzo our base said he wanted to lift relations to a new level to also further from competition cooperation relations between japan and china that is in the process of entering a new era. china is japan's biggest trading partner the volume of two way trade could grow even further given the number of business deal signed here this is a relationship marked by historical hostility and rivalry but both sides agreed to work towards easing tensions in the east china sea where japan and chi

there is no political risk in japan. the central bank is printing money, not as much as a year ago , and that is very important. the japanese corporate is massively under leveraged. that is obviously positive. we have a very bullish view of japan. >> thank you so much for joining us. luca paolini, chief strategist at pictet asset management. jeff bezos blinks in the face of political pressure and raises the minimum wage at amazon. we look at the implications next. this is bloomberg. ♪ >> this is "daybreak: asia." i'm shery ahn in new york. >> tranzyme haidi stroud-watts in sydney. amazon is raising the minimum wage for workers in the u k and u.s. says that a rise will take effect on november 1. joining us from san francisco is bloomberg intelligence senior affect -- how does this amazon's bottom line? >> there's going to be an increase in cost, but if you see what sort of expectations are for next year, there are other offsets the company has, like advertising and higher margins. and of course cloud services. they can

big surprise was that japan rescues the compounds of an progressive tpp and japan and eu managed to deliver a trade deal it covers one third of the world. are they really going to carry the torch of this? to see that potential? or are there significant obstacles along the way? and after that i will bring the audience in for q&a. >> i think it will be extremely difficult without the us. japan sort of took the driver seat on the tpp and it was welcomed. it was sort of a surprise for us because we're not really used to sort of taking leadership. and we would continue the epa with eu is another. the multilateral forms, it's important for us and we think is important as well but it is premised on the u.s. coming back at some point. we do not think we can carry the burden alone. even with the us. so somehow, what weare trying at least two maybe , it would be difficult in the short term. but in the midterm, the thinking is that u.s. has to return. and without it, it will be extremely difficult and very bad times. ... >> the tension between us and china is unlikely to expire but the idea that we ar

tosedo nakimaya, japan. edward alden, a senior fellow at the council on foreign relations here in town. a professor at the university of luven in belgium. and mark lewis, professor at harvard law school in boston. camebridge, actually. sorry. let me take a couple of minutes to set the scene, to highlight some of the important trends and issues that the speakers will be discussing in much more detail and we will certainly be taking questions from the audience so we can engage with you as well. i don't think it is too much of an exaggeration to say that we live in extraordinary times. and frequently, we don't know where the world is heading, and certainly we don't know where the international trading system is going. due to negotiation paralysis in the world trade organization, the wto, you can say that the route book on international trade and investment has not been updated for the last almost 25 years. at the same time, there is concern that the actions and qualities are the two largest economies in the wor

military presence here in asia also remember president trump has been threatening japan over its trade practices as well and i think that you know the message from president xi jinping when he meets shinzo rb later on friday is essentially going to be this china can be a stable alternative to the united states but of course there are many people in japan who are uneasy about the fact that shinzo rb has come here to china because they don't want to do anything that could risk some sort of disruption to the relationship with the united states because japan of course is the u.s. is most important ally in asia but at least the leaders of japan and china are now sitting down and talking to one another as opposed to threatening each other which is the case just a few years ago now this time six years ago a visit by a japanese prime minister would have seemed unthinkable you know a japanese prime minister simply would not have been welcome here in china because at that time there were serious anti japan protests here in china that at one stage threatened to get out of control in fact many peo

., and japanese and japan, -- the japanese in japan, and now we are becoming global. that is one of the reasons for which we had so many in the beginning and you will have much less in the future. francine: at the moment we have 20 global car companies, 20 chinese companies, 20 makers of batteries. how will that change? carlos: you will see a consolidation in china. there are lots of rumors that china would like to regroup --panies into a view global into a few global champions. also, a consolidation of the global level, and the first one is the fact technology is coming and there are a lot of bricks of technologies hitting the industry. in order to face this challenge, you need a lot of investments and small companies will have a hard time to follow. that is number one. second, this is a very competitive industry. you know that scale when it is a competitive industry plays an important role. these two factors will be driving consolidation. francine: you talk about technology, i also want to talk about regulation and driverless cars. if there is one technology you wis