Worlds 2nd largest economy the news from china customs isnt rosy. Trying as Foreign Trade has shrunk more than the experts expected. You know youre going in september chinas total import and export value was 2. 00 trillion you were down a decrease of 3. 3 percent exports were 1. 00 trillion yuan a decrease of 0. 7 percent and imports decreased by 6. 2 percent. Or us punitive tariffs continue to hit the chinese economy hard fewer and fewer goods are being shipped to the u. S. Into of kember alone chinese exports to the u. S. Fell by over 20 percent compared to the same month last year imports slumped by over 13 percent the u. S. Is increasingly moving its important to the trading partner for china in the 1st 9 months of the year the European Union continue to be one of the most important trading partners for china with a trade volume of 510000000000. 00 u. S. Dollars the association of Southeast Asian nations came in 2nd with a trade volume of 440000000000. 00 u. S. Dollars that puts the u. S. In 3rd place with 370000000000. 00. Both sides are trying to alleviate a serious affects of the trade dispute on their economies by returning to negotiations last friday the agreed upon the 1st partial settlements in the trade disappeared. After more im joined by fred beamish chief asia economist at pantheon macroeconomics in newcastle thank you so much for joining us now china reportedly wants further talks now to discuss the details of the socalled face one deal agreed last friday whats beijing hoping to achieve. Yeah its not that surprising to me that theyre still asking for further talks the chinese side has every incentive now to try to just drag things out and dont tell mr trump but spin him along though those year over year numbers probably slightly overstate just how grim the trade situation is in china were seeing some stabilization at the margins but it is a very weak economy that the chinese authorities are dealing with the same is true however of the u. S. Economy at least in terms of the outlook we are looking at quite a grinding slowdown for for the u. S. And it is as a result of those tariffs that mr trump has has put on obviously hes not going to admit that both sides are suffering from these tariffs so i think the chinese side very much theyre very much looked looking to try to avoid this hike in tariffs that slate the pencilled in for december and theyll do that by trying to spin out this phase one process the u. S. Side i think theyre probably looking much more to try to get a deal to sign that comprehensive deal because of the political calendar but the chinese side i dont see them wanting to give mr trump that kind of a win and i think they probably see this stimulus that theyve done is still in the pipeline and theyre looking to a recovery regardless 5 of of the tire of spin removed or not in the beginning of next year but they certainly dont want that tariff i can december what youre explaining right now seems to be the perfect example for whats being said about china that for them its politics before business does this stand in the way of a deal. I think that it does is the short answer i think that the economic side of things cant be put to the side although i have to say that as an economist but the economic side of things is very important to the Chinese Communist party they cant afford to see the labor market just deteriorating in and not be seen to be doing anything to try to stabilize the economy so i do think well see some more domestic stimulus but they certainly are much more focused on or the priorities are much more focused on those political issues trying to prevent the troubles in hong kong from spilling over to the mainland and one of the ways that theyve done that is to is to really pin those troubles in on hong kong on the socalled black hand which they mean u. S. Operatives in hong kong to prevent that from spilling over so for them to then kind of be seen to get into bed with mr trump on a comprehensive deal and be shaken out later miles its quite difficult for ive been chief asia economist said panton macroeconomics thank you so much for your time thank. Another country feeling the pain of the u. S. China trade war is the Southeast Asian financial hop that is singapore which has eased Monetary Policy for the 1st time in more than 3 years the export aligned economy narrowly avoided recession and the 3rd quarter the Monetary Authority of singapore will allow the local dollars to weaken slightly singapore uses its currency to manage Monetary Policy rather than Interest RatesCentral Banks around the world are loosening policy as fierce amount of Global Economic slowdown. The british pound slumped slightly on monday against the us dollar and the euro following its gains on friday the decline came after the European Union demanded more concessions on the governments bricks of proposals leading to less certainty that a deal will be done or is johnson and your leaders face a tumultuous week of reckoning that could decide whether divorce is orderly acrimonious or delayed yet again on friday the pound surged to a 4 month high against the euro or hopes of a brics that breakthrough but as you ministers met in luxembourg uncertainty again dragged the british currently down one percent against the dollar and an even bigger slump against the euro. I think i think it was so lonely last week that any sign of progress or a problem with talk and breakdown and acrimony really cause that browser bound reality set in and theres no when its that there is much more to be done to make even the slimmest of progress towards the new british Prime Minister barak johnson says he wants to strike a deal at an e. U. Summit this week to allow an orderly departure october 31st but if an agreement is not possible youll leave the United Kingdom out of a bloc without a deal even though parliament has passed a law saying he cant do that or. The 29000 nobel prize for economics has been awarded to jointly to bannerjee to do floor and Michael Kramer for their pioneering studies on poverty between you were awarded the prize for their Experimental Work in alleviating global poverty bannerjee and to do floor where at Massachusetts Institute of technology and screamo works at harvard in the United States the economics prize is technically not a nobel prize as such it was 1st of order in 1969 by the Swedish Central Bank as an add on to the other nobel prizes economics prize wraps up a noble cease and that so far had only seen one female laureates. And thats changed but not it was my colleague rob watts soon who kindly joins me in the studio to tell us a little bit more 1st of all about those 3 winners what did they do yes to flow which is bunny g. And Michael Kramer have all been awarded for what it was phrased as as their experimental approach to alleviating global poverty the key phrase there is experimental approach because what this trio have done that others in the field have not done is carry out field experiments with some of the 700. 1000000 people worldwide who are living in extreme poverty theyve gone to these different parts of the world and done experiments to see direct plea how Public Policy affects those people so try to make it less a case of number crunching when it comes to coming up with ways to alleviate poverty but actually basing it on the real experiences of those people so a real hands on approach as opposed to pure science in an ivory tower and now we have to talk about the woman there because vested its this chaos what does this tell us well yeah i mean this is a understatement i mean so we have as to do flow today becoming only the 2nd economics Nobel Laureate there have been 84 Nobel Laureates in account in economics over the past 50 years 2 of those have been women so for every woman there are you know 42 men getting this award. I think its fair to say that thats not great figures it doesnt look great so theyll be pleased to have at least added one more woman to this time around. She she has spoken she did a little q. And a after the announcement was made and she says that her receiving this award today shows that it is possible for a woman to succeed and also to be recognized for that success and she hopes that she can inspire more women working in economics and what about the prize i already mentioned that its not strictly speaking a typical no bella prize but theres something very special this year yes as i mentioned it started in 1969 serves the 50th anniversary this year and you think oh hold on i thought the nobel prizes were much older than that and they are as you mentioned this is not one of the original nobel prizes that were set out by nobel in his will some 120 years ago this one has been added on and it is controversial for the reason that unlike the other nobel prizes which are generally for science as always we also have literature of peace as well but. The economics prize is very much treated as a science prize however if and those working within the economics field admit that its not really a precise science not really elevating it that could do more harm than good right drop what business thank you so much for filling us in on. So now that weve heard everything about the latest nobel prize 29000 its time to wrap up business asia for now thanks from me and the team in berlin thanks for keeping us company. Its time to take. The 1st female to. Touch girl just such. And the fight for the trophy. Over. To connecticut. Its time for. The debate is coming up ahead. Minds. Welcome to the book is the game here. To talk about. The coverage. 3 more for. Us a we have a. Lets have a look at some of the of the massive rallies still shaking in the proof of the breathe a sigh of relief so you dont want to miss this. Guy. G. W. Bush says he. Are always. Symbol of a long conflict in the philippines. Between the muslims and the christian population. Last. Players fight occupied the city center 17 president detergents response was. I. Will never again look over. The ring conquest turned into tragedy. Is not the kind of freedom that mean one. How did we become a deep way to islamist terror i think the same sorry god you mustnt do so for an exclusive report from a destroyed city. Philippines in the sights of starts october 24th on the g. W. This is david lean years live from turkey advances into northeastern syria where the military campaign against the syrian turkish bath militias are pulling down. And tearing down signs supporting the group called terrorists on kurds teamed up with the Syrian Government to push back. Also on the program poems are building nationalist more than just this particular is a huge election went increasing the majority of the implementing with reforms that critics say democratic