Transcripts For BLOOMBERG First Up With Susan Li 20131208 :

BLOOMBERG First Up With Susan Li December 8, 2013

The u. S. But a lot more. So did europe. It sets off a surge in china which and the nation its biggest trade surplus in years. Mia is here with the breakdown. This is a big surprise to the upside. We have a trade surplus of 33 point 8 billion. That is the highest since january 2 thousand nine. Exports beating estimates. Imports are less than expected at 5. 3 . China has increased their record as traders replenished existing stockpiles. Just to tell you what analysts are thinking, theyre happy with the export figures. Global demand is picking up. The United States and European Countries are picking it up. Essentially shows softer demand. Not as strong as many would have liked. This may pave the way for the Chinese Government to perhaps say we do you really need to rely less on external demand. We need to focus on domestic demand. They are making steps in the right direction. Consumer of largest iron ore. We already heard from the economist who saw the other side of it. Also, youre on your prices are following falling. It is a little bit of one view to the other. We also have cpi and ppi figures. Look at the inflation figures. Is expected at 9 30 a. M. Hong kong time. This is what were previewing for the month of november. Onere expecting negative. 5 for chinas ppi. At the consumer side of the equation, we are expecting a rise of three point one percent. This is a slowdown from the month of october. Thesel be watching closely to see exactly how these baskets of services have changed. That is above the 3. 5 . Some breaking news. Is calling for more to make abenomics a reality. Stick around. We have the details. We have china. Now japan is also the focus. Theyre calling on them to increase the wages. Inflation concern is going to happen. To relay theng wages. The party pledged to raise their wages. Toan is still part way defeating 23 years of deflation. The figures are 1. 6 . They look forward to this. Strong. Xports are it vindicates the tiny story. There is a slight falling out. The other nations could get even weaker. Toy have to depreciated where they could boost exports. It upset the likes of china and the other careers. They will lose out. A big blow. What are the thoughts overall . Here they are now. It is part of the areas addressing this. There is no end to abenomics. At the end of next year the cabinet will prove the related policies on the growth strategy. We will announce the timing of the execution and minister the sign to put forward these policies. One of the concerns, when will it be coming . Quantitive easing. Structural forms. Is a consumption tax. It has been given. Very big right now in terms of what these reforms are going to be. That is the question. You can see abenomics continue in rallying the troops. Not everybody thinks the momentum is continuing. They used to advise. George soros and here he is. May be the fiscal conditions become sound. Our life will be terrible. There is no exit. That is borrowing words again. He wants to end deflation. It is extreme. We were told deflation. How viable is that . Anit is going to have to see extension. If you talk about the wages, it is probably the most important component they need to get on board. It is going to be really hard convincing the rest of the corporations that they should consider the projections. Theres a economics theory of what inflation will produce. Deflation is ending. Biggest rise in winter bonuses. That is a big boost. These will start flowing to japanese consumers who absolutely are dependent. Theyre trying to wire this before the tax comes in. The Fourth Quarter is always usually good anyways. Is an eight percent tax. Were going to get that breaking news out of japan in 40 minutes. Youre going to take care of that for us. We will see that supports the bigger story you have been reporting. We will see if this continues to support and left. He can hear challenges from the Prime Minister himself. Catch it at 720 hong kong and singapore time. Lets get straight to the markets. The Australian Dollar is currently trading at 91 u. S. Cents. It is strengthening this morning. Museum and seen gains higher. Kiwi is also seeing strength this morning. 82 u. S. Cents. Lets head over to japan. The nikkei last closed like this. It was higher. Nikkei futures are pointing to a higher open. In theseeing weakness yen. It is at the 10317 level. That is going to support japanese exporters today. 5 wall st firms are under investigation for hiring practices in china. U. S. Regulators have widened their injuries, seeing whether they broke antibribery laws. Ended this. He bank we are waiting for official results from india state elections. The opposition is seen as the big winner. He is ahead in three state polls. They give a pointer to the National Vote which much be held by monday. Could add aeal that trillion dollars to the economy. U. S. Compliments on food subsidies in a latin american block. President obama praised the draft agreement. Analysts say it will do more to salvage the longrunning doha round of talks and to solve Food Shortages and tell global commerce. More on this deal later. Were going to hear. The u. S. And japanese economies will recover the most next year. Find out more from the chief economist when first up returns. Australias largest insurer shares are plunging, the biggest drop in 12 years up down 21 . It is paired off that one. Unexpected net loss of about 250 million. It is due to writedowns at the north american operations. This is a stock where watching for you this morning. Qbe falling the most in 12 years. That will be one of the lacquers on the sx 200. On tuesday a hearing is due to begin. Into the asian on the crash. Happened in San Francisco in july. People died when the bowl and triple seven hit a seawall as a came into land. Theyre going to look at the pilot performance. On wednesday it is hong kongs biggest debut in a year. China raise about 2. 5 billion in its ipo. It was set up in 1999 to deal with bad debt from chinese banks. Were going to be watching out for the reserve bank. New zealand is expected to be one of the first g 20 nations to raise the cost of borrowing. Indonesia will also make this. Readers are gathered together in tokyo for a threeday summit with shinzo abe. The territorial dispute is likely to be on the agenda. Statement will be issued to save any abuse of power and civil aviation. Turning to the yes itll be a big dust turning to the yes itll be a nuclear deal with iran. Iran will lead mondays u. S. News. Theres a new round of sanctions to force the sanctions of Irans Nuclear programs. Their lobbying against a sanctions bill as they believe it will go against any nuclear agreement. After more than three years, the poker rule is ready for prime time. They will meet to finalize the rule barring things from proprietary trading. As a meet in washington, and bankers will meet in new york at the golden sachs congress. Jamie dimon is scheduled to speak wednesday. Theyre looking for a Congressional Committee on the International Financial systems. They will toughen the financial regulations. In an otherwise quiet week of reports, costco will firstquarter results. Analysts forecast profits of the dollar three cents per share. On thursday, blackstone will set prices. Helton plans to raise as much as 2. 5 billion dollars. The most ever for a hotel company. Also on friday, the selfimposed deadlines are set to reach a budget deal. Lawmakers had the meeting to come to some form of an agreement. Down on the you latest echo data. Joins us economist tonight from sydney. It is good to see you. What is the followthrough for asian markets . Is a positive. We have percent persistent numbers. On friday we still have the unemployment rate. We have a much stronger u. S. Labor market probably indicative of the u. S. Economy building momentum. The markets are staring at whether or not it is tapering. Will we see the volatility from earlier this year . Do think were going to see that . They saw emerging markets really fall off the cliff with Foreign Investors taking money from emerging markets. What you think is going to happen in terms of volatility for december . I think there is a chance well will get them announcing some form of tapering. Thatwe learned in 2013 is they are vulnerable to a tighter u. S. Dollar liquidity. Volatilityignificant this year. The economy is across much of the emerging world. Had their underlying momentum derailed by this capital withdrawal. This is boosting the gross story. We have returned from the u. S. And europe. You think this will be in a momentum to push not only china but this region for work . It is telling us that Global Growth momentum is building. 2013 will probably end up being the weakest year of growth for the World Economy since 2000 and eight. If we see that momentum led by the u. S. Into 2014, that i think is really going to be a Good Platform for the whole World Economy. Europe im not sure. There are a lot of challenges there. A greated states has platform to move to a higher rate of growth. What do you think of the china story in 2014 . Do you think reform led Economic Growth will be the case for next year . There is a lot of reform. I think the important thing never to forget is that chinas economy looks like it is slowing too much, the government can provide a backstop to growth with its investment with urbanization requirements and so forth. It keeps chinas growth going. Benas growth we expect to 7. 25. A quarter 7 pr im not too concerned about a government shutdown. They can get out and about 40 minutes. I cannot let you go without asking you about that. This has done a tremendous amount for japanese confidence for consumers and businesses. Seeing that combined with the fiscal stimulus, the monetary stimulus seems to be working. They have momentum building. Flow through until 2014. We do want to see some structural reform. Investors want to see some reform. That is the big . They are doing their job and momentum. The figures will highlight that. Are allis what we waiting for. Joining us from sydney this morning. Thank you so much for that. Coming up, the japanese Prime Minister calls for talks with beijing as territorial tensions escalate. An exclusive interview. You are watching first up. Stay right there. Welcome back. The japanese Prime Minister said his door is always open to china as territorial tensions continued to rise in a wide ranging interview. Should thought they said it is time to reset relations between the two nations. We need each other. We should understand that. We should not let one issue control the entire relationship. Both of us have an understanding that will lead to a mutually beneficial relationship. Because there are issues, there is a need to have a meeting by the heads of state. I always keep my doors open for a dialogue and hope china would adopt the same stance. Businessst one publication has depicted u. S. Superman. Can you be specific about what is the next step for abenomics . Session onplaced the implementation of growth strategies. A have interacted enacted genetic improvement of profitability and restructuring as well as promotions to startup businesses. Effectivethe Corporate Tax rate, we have decided to reduce by two. 4 . We will be moving forward with how this should be with the Japanese Companies to stay competitive. Is no end to abenomics. The cabinet will improve the related policies on the gross strategy. We will announce the tightening of the execution and administer this. You can get more on that and all the days top stories and you can watch his life wherever you are. Download it from the app store and we will see you there. If you use twitter, it is easier to stay in touch with us. You can follow up on Bloomberg Television world and follow me and the others. We also have dan petrie there for you. Up next we will hear from the ceo about the feature for low Cost Carriers in asia. That is when first up good morning. It is a little cloudy over your live look at victoria harbour. It is about 23 degrees of a hike today. Were 30 minutes away from the opening. U are watching first up the buyers are back. Handing china the biggest trade surplus in years. To tumble as the opposition quit parliament. Remembering mandela as details of the funeral are announced. Good monday morning to you. Lets get straight to the markets. The sx 200 looks like this. It is now in the red. It is down after qbe plunged the most in 12 years. We are now at 5179 levels. The Australian Dollar continues to strengthen. U. S. Cents. Ng at 91 new zealand is still in the green. The kiwi is also seeing some strength europe. 82. 9 u. S. Cents. Lets head over to japan right now. The nikkei is closed in the green. Just a fraction away. Taking a look at the yen. It is weakening. Is pointing to a higher open this morning. To ben get he was going leading the games. Lets switch over to china. The debt is piling up. The odds of the defaults are higher. This lens of the question. Defaulthe first deep in chinas credit market. Quite lets paint a picture of what is happening with some of these done financial companies. They are faced with heavy debts. They also have a very tight cash supply. This is a perfect storm for them to see their very first default. They first started regulating back in 1990 seven. They have not seen a default since then. Principledn of securities must be repaid at some point next year. That is 19 more than this year. The majority will come from these note that have to be reading. Will be thenority interest that is due on these payments. You can see an increase in interest rates. It adds more fuel to the fire. The timing could be right. As china tries to liberalize the markets and make market dictates interest rates, e could see a firsttime default. The odds are increasing. Thank you for that. But lets go for a roundup up of the corporate stories. Bickle in run 1 5 of its value after baidu stop taking over the money. They are moved to forbid banks and ensuring the transactions. This is not the currency with the real meaning. The company that tied up asias biggest ipo is putting its buying spree on hold. They said they would take a break for 12 months. They want to boost the current businesses to catch up with coke. On next focus will be vietnam and indonesia. Qantas baby soon given a may be soon given a lifelong. Aey have commitment of about billion dollars. Is job cuts. The s p is cutting the ratings. That is being monday news. I am john dawson. Thank you. In asia areriers facing everincreasing competition. They months the skewed last year. The demand for affordable air travel can only increase. This is very encouraging. Firstyear demographics. You have a large expanding population. You have economics. You have socioeconomics which is people starting to value more of their leisure time. All of this feeds into more and more demand. Unique geography, it is no reason that people are very excited about the lowcost area nation. This includes australia, china, korea, japan. Opportunitiesy of in china. There are 12 million people. With directtent service to singapore. There is a gold mind. Where will you expand . Are we looking at china . We have four cities in china. Add more debt. Australia, india. They have expanded more and more to get into the space. Issues could crop up. I dispute that wholeheartedly. We are regulated by the same people. Theres not one rule for all carriers. We abide by exactly the same regulations. We must maintain the same standards. We maintain the same company. Absolutely. There should be no concern or reason for thinking that most lowCost Carriers are different. Is this higher given that there is a unit of this associated with quality. Havee expectations really functionality and strength. It is absolutely right to be here. We meet with both of those. We provide this very cheap from point a to point b. We will be charging from the addons. Beginning, perhaps people ofnsure of what howd how this would relate. I think we have educated the markets. Realize we get an extremely good value. Checking some other stories making headlines around the world. The crisis in china has escalated. Missy the delimited illegitimacy. This comes as antigovernment protesters prepared a renewed push to topple the Prime Minister. They want to replace it with this. That government can do under the constitution under the law and that might follow, we are willing to work it. Day it will one leave apart. Is expanding its air defenses zone, adding to regional tensions sparked by beijing similar move. Koreas his own covers two islands and a submerged rock. Discuss the issue when he visited seoul, beijing, and tokyo. North korea has now confirmed unswall of kim jong uncle. He was seen closest to the camera. Over the weekend, the shot was tighter. This is the second most powerful figure. Charged with corruption, drug use, and other antistate acts. Fog is forecast once again. Conditions have been like this for nearly a week, prompting an orange alert for severe weather. It left her stranded on the side of the road. South africa will hold a Memorial Service for Nelson Mandela. At least 200,000 people are expected to attend. His body will then lie in state editorial until the middle of the week ahead of sundays villa. Specialrose has a program remembering Nelsen Mandela were his guests give us his memories and antidotes. What was interesting is that they really talked about his politics. People forget he loves ports and boxing. Hes to practice boxing in his jail cell. All are fascinated by global sport. They followed it closely. They wanted the guards to update him on various sporting events. That is one to watch. You can see that later today. Remembering Nelson Mandela errors at 1 00 p. M. Singapore time. Up next, chinas trade surge. Will japan follow . We will find out. Stay with us. Are moments away from the latest data on japan. Lets assess the process of abenomics. How is it doing . Joining us is ed roberts. Here to see you. Lets start with abenomics. How is shins on they doing . Number three . Good morning. This is more like a th

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