31/08/2016 Asia Business Report


31/08/2016

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criticised over the way it investigated patients deaths. She

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will take on a similar role for the same salary. Now it is Asia Business

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Report. Riding the rain. Farmers in India

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are helping the economy, but is it enough to remain the world's fastest

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growing economy? And a new field of play. It is not Europe, but Asia. We

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speak to Manchester United about its strategy for China. Good morning,

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Asia. Hello, world. I'm Rico Hizon. Thank you for joining us on Asia

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Business Report. Later today we will find out if India is still the

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fastest growing economy when the latest GDP figures are released.

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India has already edged past China with annual growth rate of more than

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7.5%. But maintaining such strong numbers will largely depend on the

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weather. We travelled to a rural village to find out why. Each drop

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of rain rings a certain amount of relief for the people living in

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India's countryside. Three severe droughts had devastated many places

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like this across India. There was no water for farmers to drink, let

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alone growing crops with. This man has been growing corn for a long

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time, but he has found it difficult to feed his children for many years.

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With no force of income, he has been forced to live outside his means.

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TRANSLATION: I want life to get better now. Hopefully I will earn

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enough this harvest season to pay for my children's education and feed

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them properly. I also have a debt of $4000 which will take a few years to

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pay off. But things could get better for millions of farmers across India

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soon because of the good monsoon this year. Nearly two thirds of

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India's population lives in rural areas like this. So while we hear a

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lot about booming cities in India, it is still the countryside which

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plays a crucial role in driving the economy. Because most able here are

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farming, at the height of that is the monsoon. If it doesn't rain, the

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crops don't grow it, and if it is too much, they get real. So it puts

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more money into their pockets to spend. That is good news for Indian

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firms which make products like toothpaste and soap. Demand from

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small towns and villages make up almost half of sales. And companies

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like these are expecting rural demand to boost profits this year.

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Rural always grow faster than urban India last ten years. That is

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expected to be doubled. It is a good start. But growth investment will be

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crucial to lifting these farmers out of poverty and making them less

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dependent on the weather. This year, the farmers are seeing the monsoon

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is a blessing. And with the harvest over a month away, they are looking

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forward to see the rewards of their hard work. BBC News, India. Staying

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with India, thousands of rickshaw drivers have gone on strike in

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Mumbai after the lack of regulations. And other union

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covering taxi and rickshaw drivers is due to meet the government to

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address concerns. Rickshaws are the main mode of transport in India. We

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will go live to Mumbai for the latest in the next hour. Shares in

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the largest shipping company in China fell. The decision could push

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it closer with its debts piling up over the last five years. Like many

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in the industry, it has been hit hard by the slowing global economy

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and lower freight rates. Justin Trudeau has arrived in Beijing on a

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trip which was supposed to be about deepening Canada's relationship with

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China. Despite the fanfare, a spat over canola exports in China is

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overshadowing this visit. While China is pushing for a free trade

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deal with Canada, recent polls suggest Canadians are hesitant about

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closer ties. Nearly half of them support free trade with China, but

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only 11% back investments by Chinese state-owned companies in the

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country. I asked how Justin Trudeau's welcome compares to that

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of his predecessor, Stephen Harper. The Justin Trudeau family has a

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long-standing relationship with China. His father, Prime Minister

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during the 70s, originally opened up relationships with China. So, given

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how generational the relationship is, there will be a lot of focus on

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this. Relations between Ottawa and Beijing goes all the way back to the

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1970s. But in this meeting, there are contentious issues, especially

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tougher restrictions on canola trade which kicks in tomorrow! It is not a

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great situation. China is very eager to sign a Free Trade Agreement with

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Canada. China feels a little left out because of the TPP agreement

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which they were not a part of. And I think they are trying to make some

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incentives for Canada to sign an agreement with them. All right. Free

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Trade Agreement is also in the works between Canada and China, but, umm,

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will Canada really benefit from it? If we indeed get into an FTA with

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the Chinese we will see a larger trade deficit between the two

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countries which favoured the mainland. That is my point on the

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issue. Unless there was real movement with the financial services

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sector in China, the opening up of beef imports into China, which are

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things the Chinese government are unlikely to give, I am not sure how

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Canada is going to expand trade from any expanded Free Trade Agreement.

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Will there be any benefit for the Canadians if they join China's

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initiative of the Asian Investment and Infrastructure Bank? A

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unilateral world dominated by the US for a long time is another issue.

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The idea of multiple large nations having a say is something Justin

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Trudeau favours. I expect Canada to move quicker on that then free trade

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between the two countries. Joining us live Shanghai. Now to the

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business of sport. Today marks the transfer deadline of football where

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we will get the full picture of the multi million-dollar deals.

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Manchester United have ready signed this man with great dance moves,

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Paul Pogba 48 ?9 million from Juventus. That is 117 million

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dollars. Football has a huge fan base in Asia.

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The first aim is to connect meaningfully with the fans. So, in

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years gone by, I was told how amazed they were. We scored, and people

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come out on the balcony on the block of flats opposite cheering. In the

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past, TV audiences reached fans, and they continue to be the most watched

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thing in modern culture on TV. For the club, you know, the job is for

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them to use the benefits of social media to correct directly with fans.

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APPLAUSE. In terms of the commercial strategy that goes with that, that

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follows, you know, commercial success follows connection with the

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fans. That is the benefit of doing things the right way rather than

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just setting out to make money without doing the hard yards first.

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The strategy in China has been successful over the years, with a

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long-term strategy with multi- year partners. We have seen great results

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from connecting greatly with fans. It is going very well. We are very

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fortunate. It is one of the things that you are taught when you join

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the club. We stand on the shoulders of giants. People have been at this

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club for more than 40 years. The reputation the club has four the

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partnerships and the friendships it is built over that period is second

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to none. So, the fortunate thing for someone in my position is when we

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get in touch with someone we want to speak to their is a natural interest

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on their part. They already understand in a large part what

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Manchester United represents and what it stands for. Then it is only

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a short conversation to explain what it is capable for them as a

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business. From Manchester United. Before we go, a quick look at the

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markets. Currently mixed as you can see. The Nikkei is up 44 points to

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two the weakness of the Japanese yen against the US dollar. The All Ords

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Index is down 18 points, a third of a percent. Thank you for joining us.

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I am Rico Hizon. Sport is up next. Have a great Wednesday.

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I am Ben Bland. The top stories. Singapore's Ministry of Health

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advisers all women with

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