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Martin McGuinness. Now on BBC News all the latest business news live | :00:00. | :00:00. | |
from Singapore. Top Chinese official arrives in | :00:00. | :00:23. | |
Taipei in another sign of warming feelings between both sides. | :00:24. | :00:26. | |
And new graphic warnings on cigarette packets. | :00:27. | :00:36. | |
Welcome to Asia Business Report. China's top official for relations | :00:37. | :00:40. | |
with Taiwan touches down in Taipei today for a series of meetings. He | :00:41. | :00:47. | |
is not expected to eat any major agreements on this trip. He will be | :00:48. | :00:53. | |
getting a better understanding of how ordinary people feel about the | :00:54. | :00:58. | |
relationship. Will this softer approach counter political | :00:59. | :01:01. | |
resistance to China? I asked our Taipei correspondent. It depends. He | :01:02. | :01:10. | |
is coming amid major protests in Taiwan. Students occupied the | :01:11. | :01:14. | |
Parliament to protest a controversial trade deal that | :01:15. | :01:17. | |
Taiwan's government signed with China. Even though the agreement | :01:18. | :01:21. | |
looked like it would benefit Taiwan's as this is by allowing it | :01:22. | :01:25. | |
greater access to china's services sector, in many ways the public is | :01:26. | :01:30. | |
still suspicious of china's intentions. Several years ago, the | :01:31. | :01:37. | |
sides first began it living relations. `` improving. He will be | :01:38. | :01:46. | |
talking to ordinary people, including farmers, villagers, | :01:47. | :01:51. | |
students and professors. He will even visit a daycare centre. What | :01:52. | :02:01. | |
has been the reaction so far to this trip? You have got some newspapers, | :02:02. | :02:08. | |
what are they saying? It is all over the newspapers. This headline says | :02:09. | :02:15. | |
that he will get a true sense of how Taiwanese people feel. It is a | :02:16. | :02:20. | |
positive response. On the other hand, another newspaper have an | :02:21. | :02:27. | |
interview with Hillary Clinton, warning that Taiwan becomes too | :02:28. | :02:31. | |
economically dependent on China, it could influence its political | :02:32. | :02:37. | |
independence. This newspaper also warns that China bringing its | :02:38. | :02:43. | |
restrictions to Taiwan. Many of the reporters will have to have a | :02:44. | :02:51. | |
variety of press passes. In other business News, China is | :02:52. | :02:55. | |
reportedly planning to set up a global financial institution to | :02:56. | :03:00. | |
rival the World Bank and the Asian development bank, according to the | :03:01. | :03:02. | |
Financial Times. They believe that they are at too influenced by the US | :03:03. | :03:12. | |
and its allies. It will be known as the Asian infrastructure investment | :03:13. | :03:16. | |
bank. The Philippines laugh at a wider than expected trade | :03:17. | :03:25. | |
shortfall. `` lodged. It is a six in a row. This came after Typhoon | :03:26. | :03:35. | |
Haiyan struck. Japanese administrations Shinzo Abe | :03:36. | :03:39. | |
has unveiled an ambitious package of reforms aimed at revitalising the | :03:40. | :03:43. | |
economy. It is part of his so`called third arrow of structural changes. | :03:44. | :03:49. | |
He will be putting more women into the workforce and restarting the | :03:50. | :03:52. | |
country's mothballed nuclear reactors. | :03:53. | :03:56. | |
It is not often that ministers pay much attention to provisions of | :03:57. | :04:01. | |
economic statistics. But when it comes to the United States, the | :04:02. | :04:04. | |
world's economy, everybody sits up to take notice. Much of Asia is | :04:05. | :04:13. | |
dependent on trade with the US. Many will be waiting to see the third and | :04:14. | :04:16. | |
final reading of its first`quarter growth numbers. | :04:17. | :04:26. | |
This man designs and manufactures children's furniture. The start of | :04:27. | :04:32. | |
the year was bleak. Orders did not return after the usual dip over the | :04:33. | :04:36. | |
holidays. The drop in sales was very drastic. Usually it picks up again | :04:37. | :04:45. | |
in the middle of January. This year it took until April. The US economy | :04:46. | :04:51. | |
shrank in the first three months of this year, hurting businesses like | :04:52. | :04:55. | |
this and raising fears that the US recovery was fading. Still, some say | :04:56. | :05:02. | |
it is misleading to suggest the US is close to recession. It reflected | :05:03. | :05:07. | |
the fact that in the second half of last year we saw a very strong | :05:08. | :05:12. | |
pickup in growth that was driven by businesses than it was demand. That | :05:13. | :05:22. | |
meant you had to have some slowdown. Even if the optimists are right and | :05:23. | :05:25. | |
America is bouncing back, economists have been at forced to lower their | :05:26. | :05:34. | |
growth forecasts for the year. For many Americans, this report will | :05:35. | :05:37. | |
feel like they have taken one step forward, two steps back. But there | :05:38. | :05:41. | |
are signs the world's largest economy is making progress, not | :05:42. | :05:46. | |
least because of the improvement in the US labour market. Still, it is a | :05:47. | :05:50. | |
reminder that the path to recovery does not always follow a strict | :05:51. | :05:56. | |
line. Mexico is not a country you tend to | :05:57. | :06:00. | |
hear about in this part of the world. But it is now courting Asian | :06:01. | :06:06. | |
investors to help finance some major projects. The president is trying to | :06:07. | :06:14. | |
kickstart sluggish growth by upgrading the ports, highways and | :06:15. | :06:20. | |
waterworks. I spoke to the chief executive of the International | :06:21. | :06:25. | |
bank, Mexico's biggest infrastructure back, and I asked if | :06:26. | :06:29. | |
there was much interest. We have been coming to China, South Korea | :06:30. | :06:34. | |
and Japan. This is the first time we came to Singapore. We are going to | :06:35. | :06:38. | |
sign a very important memorandum of understanding. There have been a lot | :06:39. | :06:49. | |
of concerns about the Mexican economy. We saw the currency | :06:50. | :06:54. | |
dropping and investors pulling their money out. How difficult is it to | :06:55. | :07:01. | |
convince investors? It depends on the investors. If you look at the | :07:02. | :07:05. | |
performance of the Mexican economy in the short term, the numbers are | :07:06. | :07:10. | |
there. But if you look at the potential reforms of the Mexican | :07:11. | :07:21. | |
economy, we remain optimistic. Business opportunities have failed. | :07:22. | :07:28. | |
But we plan to invest $190 billion in energy, water, security and some | :07:29. | :07:36. | |
other applications that are coming into this part of the world. In Asia | :07:37. | :07:42. | |
itself you have a lot of frontier markets like Burma, Indochina. Why | :07:43. | :07:47. | |
should Asian investors go so far out of their way, to Mexico? It is about | :07:48. | :08:00. | |
risk and return the. The risk is low and the return is significantly | :08:01. | :08:03. | |
higher. You are going to be taking on the risk to a project and have a | :08:04. | :08:14. | |
higher return. The new regulations in Indonesia | :08:15. | :08:30. | |
will be putting graphic warnings on cigarette packets. We will be | :08:31. | :08:33. | |
finding out about them on the streets of Jakarta. | :08:34. | :08:36. | |
If you are a smoker in Indonesia, you can light up just about | :08:37. | :08:42. | |
anywhere. You can smoke on the streets, in parks and public places. | :08:43. | :08:48. | |
Even in some government offices. In India the `` Indonesia, more than | :08:49. | :08:57. | |
half the population smokes. The government has been trying to cut | :08:58. | :09:01. | |
them down, but they have not been successful. From this week, secret | :09:02. | :09:06. | |
makers need to warn smokers of just how unhealthy the habit is. | :09:07. | :09:11. | |
Cigarette packets will have graphic warnings that cover at least 40% of | :09:12. | :09:15. | |
the package. But there was little evidence of those images at stalls | :09:16. | :09:21. | |
in Jakarta today. The smokers has no idea about the new rules. | :09:22. | :09:27. | |
TRANSLATION: I do not think it will make a difference as long as people | :09:28. | :09:32. | |
still sell single stick cigarettes. The majority of Indonesian smokers | :09:33. | :09:34. | |
are from poorer backgrounds and tends to get single sticks. | :09:35. | :09:41. | |
TRANSLATION: I know a little bit about this new rule, but the will | :09:42. | :09:45. | |
not have an impact, because smoking is an addiction for me. I would | :09:46. | :09:49. | |
rather go hungry. If I cannot smoke, I cannot think. Cigarettes | :09:50. | :09:56. | |
are extremely cheap in Indonesia, because tobacco taxes are so low. | :09:57. | :10:03. | |
Activists say Indonesia needs to raise taxes on cigarettes. But that | :10:04. | :10:08. | |
is challenging because the tobacco lobby is one of the most powerful in | :10:09. | :10:15. | |
the country. A quick look at the markets. Asian | :10:16. | :10:20. | |
shearers are lowering. They are taking cues from Wall Street. The US | :10:21. | :10:26. | |
could ease restrictions on crude oil experts. That is it for this edition | :10:27. | :10:33. | |
of Asia Business Report. Thank you for watching. | :10:34. | :10:42. | |
Here are the headlines: In the US has begun | :10:43. | :10:43. |