the u.s. secretary of defense has suggested spending cuts will lead to tradeoffs in national security. chuck hagel complained about project cuts to the defense budget at $1 trillion over the next decade. he said because of that commanders will need to rely more heavily on u.s. allies. hagel forecasted how the military will be restructured at a speech at the think tank in washington. he said americans have to accept the reality that not every unit will be at a maximum of readiness. >> this carries the risk that the president of the united states would have fewer options to fulfill our national security objectives. >> hagel said no other nation has the will, the power or the network to lead the international community. but he said sustaining that leadership will depend not only on the extent of its power but on an appreciation of its limits. he said americans need to adapt by building the capacity of their allies. japanese automaker toyota is
said to revise its operating profit. the new figure will bring it closer to the record high set before the global economic crisis. the automaker will revise its operating profit for the current fiscal year upward to $22.3 billion. it will be the first time in six years that's exceeded $20 billion. toyota officials will also present their earnings report for six months up to september. they're expected to post an operating profit for the term that exceeds $12.7 billion. the officials say the revenues are increasing as sales pick up overseas and that's due to a weaker yen. they also attributed the increased profits to a cut in purchasing and production costs. investors see potential in latin america and the caribbean. the region has a market of 600 million people.
and for years, trade with asia has been growing. nhk world's ai uchida spoke with president of the interamerican development bank to get his take on what's to come. >> i want to get right to it. you say in your book that we could be amidst the decade of latin america. how so? >> well, latin america basically went through all the financial crises that other parts of the world have been suffering recently, and we learned the lessons. and those lessons were, in essence, that you needed macro economics to beat. that's what latin america was capable of basically navigating through the financial crisis. so in essence, we were able to demonstrate that we have more resilient economies. and at the same time, this is a young continent. we have what would be called a demographic bonus, 27 years on average. but more importantly, with a lot of the raw materials, with the commodities that the world will
continue to need in the years to come. commodities that we have been able to introduce, huge amounts of technology to increase significant, for instance, agriculture production or mining for that matter. so when you look at these products, they're a basis under which i believe latin america can continue to grow. and definitely we have a lot of challenges given that we'r still countries that are middle income countries. of sorts. >> let's talk about those challenges. even with all those pros going for you. even latin america can't be immune to global changes, the possibility of monetary tightening in the u.s., the slowdown in china. in fact, i have a graph for you, this is data compiled by the imf. after an impressive rebound in growth right after the financial crisis, we're already seeing a deceleration in the region. in fact, the trend is continued, expected to continue this year. so, you know, how do you assess these risks, and, you know, what are you planning to do about it?
>> well, certainly, we're at a different moment. i think most of those risks are a result of the factors that you mentioned. and as such, we're in a transition, a transition in which latin america used to have a lot of tailwinds on its sails that came from low cost of money. high chinese demand. asian demand in general. and good prices for commodities. that's all changing. what does that mean for countries? it's different from country to country. however, that does not mean that we cannot weather this. and this is going to depend largely on some of the structural reforms that we need to do. japan has been undergoing some very deep reforms and the success of abenomics is largely going to be on those structural changes. that's equally true for latin america. but more importantly trade. this is a region by comparison to asia that trades very little within itself.
we only trade about 20% of our total production within latin-american countries. compare that to europe, it's about 65%. that's where the opportunity lies. that means we have to enter increasingly in the so-called low value change and this is a great opportunity for japan. >> i was going to say, tell us about how, you know, asia can -- how asia and latin america can work together to benefit each because asia's also a fast-growing region. >> no question. and i think there's a lot of areas where we can learn from each other. take the case of transportation logistics. this is the one area where we have huge costs, which in essence become taxes to our exporters because of the heavy costs of transportation. that means that we have to do massive investments in infrastructure. ports, airplane airports, roads. rehabilitating the river systems.
using rail the way asia has done. japan is a great example of that. we're actually here in a major business summit where we want to bring midsized companies from latin america to trade with those of japan and find ways to connect those possibilities. the other area, of course, around this, is how do we continue to massively invest in this regard coupled with the fact that we need to do more in innovation. that's a big lesson that we need to get from asia. on the other hand, if you look at asia toward latin america, we've done a lot in moving people out of poverty. millions of people moved out of poverty. these were very good programs that were focused on the poorest. i think that's an interesting lesson for some of the asian countries. equally, we are the most urbanized region of the emerging world. 80% of latin-americans live in cities. again, this is a process. you take china, you take india. other countries which are largely going through a process of massive urbanization.
>> that was president of the interamerican development bank. people in europe may finally be able to breathe a sigh of relief. the european commission anticipates positive growth next year in the eurozone. eu officials say the region's gross domestic product could fall 0.4% this year compared to a year before, but they foresee an end to two years of negative growth. they say improved domestic demand it helping the economy and expect the gdp to grow 1.1% next year. germany, alone, is projected to post a 1.7% increase next year and greece is expected to announce growth of 0.6%. but the eurozone's jobless rate is likely to remain 12.2%. that's the highest since the single currency was introduced in 1999. japan's agriculture ministry may stop a subsidy program for rice farmers. the policy was implemented 40 years ago to stop rice prices from falling.
ministry officials since the early 1970s have set annual rice production targets with quotas for producers. each parti the officials are planning to end the rice production adjustle program by fiscal 2018. the policy has been criticized for increasing prices and awarding a lack of innovation. they hope they will brace for cheap imports through the trans-pacific partnership trade pact. every morning, investors turn their attention to asia. the tokyo market leads the way. in markets around the world follow. >> from the decisions that could change the course of an economy. >> to the latest business trends. >> up to the minute market reports. >> an analysis by specialists from around the world. >> get all the latest business news and insight every day. here on "newsline."
a court in bangladesh has sentenced more than 150 soldiers to death for their role in a mutiny. the soldiers took part in a 2009 revolt over pay. the violence began at a military headquarters and spread to bases across the country. the soldiers killed 74 people including senior officers and their relatives. authorities set up a special court for the mass trial. the court sentenced 152 people to death. about 420 people were given sentences ranging from three years to life in prison. defense lawyers say they will appeal. human rights advocates criticize the trial. they say investigators forced the defendants to confess. and they say at least 47 suspects died in custody. german prosecutors are releasing more details about a collection
of modern art thought to have been looted by the nazis. they say they've discovered a previously unknown painting by
shagal. the prosecutors put photos of the collection on display. they say they've recovered more than 12 1,400 pieces including works by pablo picasso. the shegal is part of a series painted in the mid 1920s. >> of course it is of a very high value for art historians. and all these paintings and prints are in a very good condition. >> tax authorities stumbled on the collection in february of last year. they found the paintings in a man's apartment in munich. he's 79 years old. the works are believed to have been collected by the man's father who was an art dealer with ties to the nazi party. a german magazine reported earlier this week the collection included pieces
looted by jewish people by the nazis. families who lost loved ones in crimes by the aum cult are
getting a chance to ask the criminals why and how they committed the murders. a japanese court will allow relatives of a cult victim to take part in a trial of a case for the first time. cult carried out a number of crimes including the 1995 sarin gas attack on the tokyo subway system. former senior cult member was arrested in january last year. he was on the run nearly 17 years. he's been indicted in three cases including the abduction and the murder of a legal clerk in tokyo in 1995. his case is expected to begin mid-january. the tokyo district court says two family members of the clerk will attend the trial. they'll be able to question death row inmates who are expected to appear in court as witnesses. more than 190 former cult members faced prosecution. 13 people including the cult's founder are facing the death
penalty. people with homes along japan's coastlines live with a nagging fear of tsunami. waves triggered by offshore earthquakes smashed into communities time and again over the centuries. and the disaster in march 2011 sharpened people's awareness of the need to run to higher ground whenever they feel the earth move. officials in a seaside town in western japan are helping make sure the elderly don't get left behind. people in the town of minami live near a seismic threat. the trough lies on the seabed just to the south. it's caused massive earthquakes in the past and could trigger another. local officials say that movement could send a tsunami 17 meters high, smashing into homes. half the residents of this neighborhood are at least 65
years old. some have weak legs. so they're training to walk faster in case they need to evacuate. >> translator: i need to make my legs stronger. >> translator: i've got to be ready to escape. >> reporter: okinobu leads the local disaster management group. he measured how far people would need to walk to the evacuation area. then he worked out how long they'd probably take. he found people with weak legs would need six minutes. twice as long as everyone else. scientists say a tsunami would hit the neighborhood 12 minutes after a powerful earthquake. so if the quake lasted three minutes, the elderly would only have three minutes to spare. he says they shouldn't waste that time gathering belongings to take with them. >> translator: people with weak legs don't have a moment to waste.
they should pack what they need ahead of time. >> reporter: members of his group are urging older people to fill bags with essentials in case they have to stay in an evacuation shelter. seniors are packing underwear, spectacles, toothbrushes, all the things they couldn't expect to borrow. some have packed their medication. >> translator: i packed underwear, candy and medicine. i'd be worried if i didn't have my medicine. >> reporter: he is storing their emergency bags at a shelter on high ground. 16 seniors are packed and ready in case of a tsunami. >> translator: they should be all right for a few days. as long as they evacuate.
>> reporter: members of his group say they'll keep up their efforts until they're sure all the locals can get to safety, in plenty of time. thousands of residents are still waiting to go home. vast tracts of land are still waiting to be restored. and more than half the fishing ports on the pacific coast must be rebuilt. people in northeastern japan still face challenges following the 2011 disaster. but step by step, they're moving forward. see their stories every wednesday on "the road ahead" right here on "newsline." japanese fishermen have started hauling in one of winter's prize catches, snow crabs. crabs are a seasonal delicacy, showing up in everything from sushi to hot pot soups. the sea of japan is a key hunting ground.
they are trolling 40 kilometers off the coast of fukui. they put down their nets at the stroke of midnight. not long after they were pulling in the first catch of the season. some of the shells measured 20 centimeters across. >> translator: i'm glad to see these crabs. we will work hard. >> the first auction takes place later on wednesday. if the season goes well, the boats will be hauling in snow crabs until late march. we're seeing beautiful blue skies here in tokyo, but there are two storms over the seas in asia affecting the region. for the latest, here's our meteorologist sayaka mori. >> hello there. as we have been reporting, there are a couple tropical disturbances in asia. this is a tropical depression, could become a tropical storm in the next 24 hours and projected to make landfall in southern vietnam tonight.
heavy winds, are on the way. northern areas could be hit by heavy rainfall. now a more active system is on the way to the philippines. we have a strong typhoon. named haiyan. this is number 30 tropical named storm. we haven't had over 30 tropical storms or typhoons so far this year. excuse me, since 1994. so this year is very active over the tropics. now this one will likely become a violent typhoon by the time it reaches the midsection of the philippines. wind gusts could be 270 kilometers per hour, strong enough to destroy houses and water and electricity could be unavailable for several days. not just winds but also drenching rain is on the way to affect the midsection of the philippines as we go into the latter part of the week. so critical situations are expected to occur across the philippines. and also heavy rain across vietnam this week. now different story for japan.
looking drier, but we are seeing some rain and a mixture of snow across the northern parts of china in northeastern china. that's actually beneficial precipitation. in harbin area, you've been experiencing hazy conditions. precipitation will approve the air quality. now the system will affect the northern areas of japan as we go into tomorrow. widespread showers. we're expecting quite heavy rain, high waves and strong winds, especially for the northwestern flank of the nation. now, autumn, changeable weather and this is the time of year where we can enjoy this type of food the most, from nagana prefecture. we have the scene. a new brand of buckwheat noodle was dedicated at a temple in the city of nagano. the new noodles are a beautiful jade green color. this is a well-known product of nagano prefecture, a suitable place for growing buckwheat.
this new creation took ten years of development. so we can enjoy the fresh buckwheat noodles especially in this season. now i think people in parts of north america want to eat hot noodles to keep themselves warm. we are seeing some winter conditions across northern parts of ontario. wind-whipped snow out there and heavy snow for the western great lakes region, and precipitation for the midsection, for excuse me, for the mississippi river valley as we go into your wednesday. now, across the west, a series of lows is moving into the pacific northwest. so things get stormy once again in your wednesday going into your thursday. temperatures are in the single digits in vancouver as well as winnipeg at zero degrees for you with plenty of sunshine. meanwhile, heating up to 29 degrees in los angeles on your wednesday. all right. finally in europe. messy picture across most of europe. remaining on the unsettled side for the midsection of europe.
our main stories at this hour, once again. police in central china are investigating explosions near a communist party building. the state run xinhua news agency reports handmade bombs have gone off. it says one person was killed. eight others were hurt. the agency says the explosions took place in the city of taiyuan. witness say they heard a blast. and after 20 seconds they saw smoke and sparks. a short while later, a minivan exploded. some witnesses said they heard as many as seven blasts. the news agency said small iron balls were scattered around the scene and suggests handmade bombs were used. photos posted online show the damage to nearby cars, but someone has been removing the pictures. authorities tightened security after an incident last week near beijing's tiananmen square.
a sport-utility vehicle veered into a crowd of tourists and then crashed. five people were killed. the authorities say that incident was an act of terror. and a japanese automaker, toyota, is said to revise its operating figure. the automaker will revise its operating profit for the current fiscal year upward to $22.3 billion. it will be the first time in six years that it's exceeded $20 billion. toyota officials will also present their earnings report for six months up to september. they're expected to post an operating profit for a term that exceeds $12.7 billion. the officials say revenues are increasing as sales pick up overseas, and that's due to a weaker yen. they also attribute the increased profits to a cut in purchasing and production costs.
enough for a conversation. debuted, al jarreau was our guest on the first night. it is all because of you that i am here. have nothing to going on. i just love talking to you. >> i just mentioned tavis is a friend of al jarreau. tavis: i want to hear some al jarreau. let's take a clip of al jarreau on to her. -- on tour.
government down, i don't want no part in that. you are always on the road. you are always in some strange part of the world. you're not tired of all this traveling? >> that part of everyday. everyday is thanks giving for me. i still have an audience, and they asked the local promoter, when is al coming back? i don't know what i would do anyway. tavis: how have you protected this instrument? >> i am closer to a baritone bass been trying to scream with thos