Browse content similar to 07/03/2016. Check below for episodes and series from the same categories and more!
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This is business live with Victoria Fritz and Sally undock. Plans to | :00:09. | :00:20. | |
overhaul its state-owned industries. Live from London, that is our top | :00:21. | :00:23. | |
story today on Monday the 7th of March. | :00:24. | :00:40. | |
China's chief economic planner is promising the country will not have | :00:41. | :00:46. | |
a hard landing at its leaders unveiled their plans for the next | :00:47. | :00:49. | |
five years, but analysts are warning the detail is scanned. Also in the | :00:50. | :00:56. | |
programme, oil heading back towards $40 a barrel and big questions about | :00:57. | :01:01. | |
energy asked in the UK, specifically about EDS nuclear plans at Hinkley | :01:02. | :01:04. | |
Point. We will have the latest for you. And a downbeat start to the | :01:05. | :01:09. | |
trading week in Europe. Pretty mixed at the moment. We will talk you | :01:10. | :01:12. | |
through the winners and losers. Talk about the sharing economy - | :01:13. | :01:17. | |
and you might imagine But the idea is quickly evolving - | :01:18. | :01:19. | |
we'll be hearing from one start-up In the last half an hour, | :01:20. | :01:23. | |
it has been confirmed that the Finance director EDF has | :01:24. | :01:27. | |
resigned over the company's plan to build nuclear | :01:28. | :01:29. | |
reactors in Britain. Where do you stand | :01:30. | :01:31. | |
on nuclear energy? Is it the solution to our energy | :01:32. | :01:35. | |
security and needs, or a waste Let us know of the stories | :01:36. | :01:39. | |
that we're covering - Once again we start with China. And | :01:40. | :02:06. | |
its admission it faces a difficult battle ahead. | :02:07. | :02:09. | |
Those the words of Premier Li Keqiang at the nation's annual | :02:10. | :02:12. | |
parliamentary meeting which began on Saturday, | :02:13. | :02:13. | |
as he lowered China's growth target for the year. | :02:14. | :02:15. | |
Beijing faces tough questions over its stewardship of the world's | :02:16. | :02:18. | |
second largest economy and its financial markets. | :02:19. | :02:27. | |
The new growth target for 2016 is between 6.5-7%. | :02:28. | :02:32. | |
The International Monetary Fund expects just 6.3% | :02:33. | :02:34. | |
But the country's chief economic planner said China | :02:35. | :02:42. | |
China's 5-year plan included targets on energy consumption, | :02:43. | :02:46. | |
job creation and inflation, but analysts say details are scant. | :02:47. | :02:54. | |
And there was a promise to overhaul the bloated and inefficient state | :02:55. | :02:59. | |
sector over the next 20 years, by bringing in the private sector | :03:00. | :03:03. | |
to help run state-owned firms that dominate industries across banking, | :03:04. | :03:08. | |
John Zhu is HSBC's China economist, he's in Hong Kong. | :03:09. | :03:24. | |
Is China making more problems for its further down the line to meet | :03:25. | :03:33. | |
these growth forecasts? Growth is important and I think the government | :03:34. | :03:37. | |
is right to prioritise growth. Structurally China is never going to | :03:38. | :03:41. | |
grow at the double digits on average that you have seen in the past 30 | :03:42. | :03:45. | |
years. On the other hand, it has to keep growth reasonably stable and | :03:46. | :03:49. | |
keep growth holding up, because if it doesn't, it is going to cause all | :03:50. | :03:55. | |
sorts of issues, such as deviation, bad debt and potentially down the | :03:56. | :03:59. | |
line, disruption to the labour market. How much does deflation pose | :04:00. | :04:06. | |
a risk to the Chinese economy? I think it is already a risk. In some | :04:07. | :04:14. | |
nations China is already is in deflation. Producers profits are | :04:15. | :04:20. | |
beginning to fall. In some ways policy should be looser, and that | :04:21. | :04:25. | |
means cutting interest rates and also for the government to step up | :04:26. | :04:30. | |
and take up some of the slack by increasing government spending and | :04:31. | :04:33. | |
investment, otherwise what you have is potentially a downward spiral | :04:34. | :04:38. | |
with lower and lower prices, lower profit and further increases in the | :04:39. | :04:43. | |
debt burden. That is the situation surely you would want to avoid. | :04:44. | :04:48. | |
Moody 's has been concerned about this and warning over what is going | :04:49. | :04:53. | |
on with debt. I think debt to gross domestic product is something like | :04:54. | :04:58. | |
245% in China. How much do debt levels like that concern you? It | :04:59. | :05:05. | |
does look big, but for me debt is one side of the balance sheet. It | :05:06. | :05:09. | |
should be balanced on the other side by the assets, which is what China | :05:10. | :05:13. | |
is investing in. I think on the whole, over time, China is still | :05:14. | :05:16. | |
investing in the right things and will make a decent return to match | :05:17. | :05:21. | |
the debt. What is the problem is the financial system isn't really | :05:22. | :05:24. | |
allocating people's savings, and China still saves more than it in | :05:25. | :05:30. | |
vests, into an efficient way, such that it makes the investment is | :05:31. | :05:38. | |
sustainable in the short run. I think the debt is a worry, but the | :05:39. | :05:45. | |
key solution is to raise the ratio you mentioned, to bring GDP growth | :05:46. | :05:50. | |
back up. We will leave it there but thank you for your time. Lots more | :05:51. | :05:56. | |
on that story online, do take a look. Here is some more news to take | :05:57. | :05:58. | |
in: The French energy giant, | :05:59. | :06:01. | |
EDF has confirmed it's It's reported the resignation | :06:02. | :06:03. | |
happened following a dispute over its plans to build | :06:04. | :06:06. | |
two nuclear reactors It's thought Thomas Piquemal | :06:07. | :06:08. | |
was concerned the ?18 billion project could put the company's | :06:09. | :06:13. | |
future in jeopardy. EDF is 85% owned by | :06:14. | :06:16. | |
the French government. Eurozone Finance ministers hold | :06:17. | :06:26. | |
talks on economic reforms for Greece But there's mounting concern that | :06:27. | :06:28. | |
Greece's third bailout, worth 86 billion euro, | :06:29. | :06:31. | |
is headed for crisis. The EU and the International | :06:32. | :06:35. | |
Monetary Fund are at loggerheads over the reform measures Athens must | :06:36. | :06:38. | |
adopt for all parties to sign off The credit ratings agency Moody's | :06:39. | :06:41. | |
has put Saudi Arabia, the United Arab Emirates, | :06:42. | :06:47. | |
Kuwait and Qatar on review It also cut Bahrain's sovereign | :06:48. | :06:49. | |
rating to junk late last week - ALTHOUGH THE PRICE OF OIL IS HEADED | :06:50. | :07:06. | |
HIGHER. YES, IT IS AT THE MOMENT. A QUICK | :07:07. | :07:13. | |
LOOK AT THE TABLET. I THINK WE WILL BE TALKING ABOUT THAT IN A MOMENT, | :07:14. | :07:21. | |
$40 A BARREL. A little more news on EDF, shares down 8% in early trade | :07:22. | :07:26. | |
following the resignation of the chief financial officer. Hinkley | :07:27. | :07:37. | |
Point, we are expecting some announcement perhaps in the next few | :07:38. | :07:44. | |
weeks and months. Let's now concentrate on another | :07:45. | :07:45. | |
story coming out of Asia. We have been hearing about economic | :07:46. | :07:47. | |
uncertainty in China and that's just one of the problems facing property | :07:48. | :07:50. | |
investors in Hong Kong. Home sales there fell by a whopping | :07:51. | :07:52. | |
70% in February from a year earlier Nice to see you. Why such an | :07:53. | :08:11. | |
enormous drop last month? There are a lot of people looking at | :08:12. | :08:15. | |
the figures on asking that same question. Sales in January and | :08:16. | :08:20. | |
February said to be the lowest on record. And the lowest since 2008- | :08:21. | :08:26. | |
09 financial crisis. It is tempting to link this to the slowdown in | :08:27. | :08:34. | |
China but analysts say the reason is that is one factor, but they also | :08:35. | :08:39. | |
point out that people wanting to buy property in Hong Kong now face a lot | :08:40. | :08:43. | |
of restrictions. Very high stamp duty, they have to come up with | :08:44. | :08:47. | |
substantial down payment and they are worried interest rates might | :08:48. | :08:50. | |
increase. The government is also boosting housing supply in Hong Kong | :08:51. | :08:56. | |
which is pushing down prices. But the property markets are being very | :08:57. | :09:00. | |
closely watched everywhere as china's economy continues to slow. | :09:01. | :09:05. | |
The economic uncertainty is putting some people off buying. Thank you | :09:06. | :09:07. | |
very much. Markets across Asia had a lot to | :09:08. | :09:17. | |
react to today. Job numbers coming through stronger and better than | :09:18. | :09:21. | |
expected in the United States, and also reacting to all the news coming | :09:22. | :09:26. | |
out of China and about poor economic news from Hong Kong. A mixed day in | :09:27. | :09:31. | |
Asia. Let's have a look at how Europe is faring. Because whilst | :09:32. | :09:34. | |
that is going on we have markets looking ahead to the European | :09:35. | :09:39. | |
Central Bank meeting this week. What will they decide? And the oil price | :09:40. | :09:47. | |
heading higher. Commodities headed higher as well. A flat beginning to | :09:48. | :09:51. | |
the week for Europe. A lot on people's minds. We will discuss in | :09:52. | :09:55. | |
more detail in just the moment but first a look ahead to the day ahead | :09:56. | :10:02. | |
on Wall Street with Michelle. One of America's leading sellers of | :10:03. | :10:06. | |
vinyl records also sells cassette tape. At this point you might be | :10:07. | :10:11. | |
wondering what I'm going on about. The company has enjoyed strong sales | :10:12. | :10:15. | |
over the last few quarters and investors are wondering whether or | :10:16. | :10:17. | |
not it will be able to maintain that momentum when it reports | :10:18. | :10:21. | |
fourth-quarter profits late on Monday. That brings me back to those | :10:22. | :10:26. | |
cassette tapes, all parts of the retailer 's efforts to appeal to all | :10:27. | :10:31. | |
generations. The head of the Federal reserve's next policy meeting, watch | :10:32. | :10:34. | |
out for speeches on this mandate from the vice-chair and Governor. | :10:35. | :10:39. | |
Wall Street will be listening closely for clues. Do they think the | :10:40. | :10:43. | |
US economy is strong enough for it to continue on its path of rate | :10:44. | :10:46. | |
hikes? Joining us is Manji Cheto, | :10:47. | :10:49. | |
Africa analyst at Teneo Good morning. We are talking about | :10:50. | :10:59. | |
oil prices, one of the things moving some of the market, or it has been | :11:00. | :11:04. | |
at the start of this year. We have Brent crude flirting at $40 a barrel | :11:05. | :11:10. | |
mark. From where you stand as an Africa analyst, it has such crucial | :11:11. | :11:15. | |
impact with the African economy. As with anyone who is exporting with | :11:16. | :11:21. | |
what is going on with the oil price? Yes, for a lot of oil producers this | :11:22. | :11:24. | |
is good news. Unfortunately, I'm not sure how long we are going to look | :11:25. | :11:30. | |
at that 40 or if it will hit the $40 a barrel mark. If you look at the | :11:31. | :11:35. | |
predictions from analyst at the beginning of the year, they were | :11:36. | :11:39. | |
predicting about $60 per barrel. At that point I am not sure we will get | :11:40. | :11:43. | |
there. 40 might be the best we get this year. But a lot of oil | :11:44. | :11:47. | |
producers will be hoping... It is hard to see what will push up those | :11:48. | :11:55. | |
pressures. Even if we have a lot of people in political instability, I | :11:56. | :11:59. | |
cannot see what kicks it up. Commodities for now headed higher, | :12:00. | :12:04. | |
which is giving everyone a breather. But let's think of the other events | :12:05. | :12:08. | |
this week, the ECB meeting, quite big in people's thinking. And China | :12:09. | :12:15. | |
digestible venues and the US jobs data which came out on Friday, still | :12:16. | :12:18. | |
thinking about that, with the whole global economy and our thinking, | :12:19. | :12:23. | |
give us your thoughts? One of the interesting things this year, | :12:24. | :12:28. | |
economic sin bin bad, but political risk has been the biggest headline | :12:29. | :12:32. | |
risk for many people. That is much harder to predict. I think a lot of | :12:33. | :12:36. | |
the volatility we are seeing is largely driven by political | :12:37. | :12:40. | |
instability and policy uncertainty. Be more specific about political | :12:41. | :12:46. | |
instability. I should clarify that more and say political uncertainty, | :12:47. | :12:55. | |
it is... The ECB, it is hard to look at decisions based on numbers, it is | :12:56. | :12:59. | |
based on the political will and what the political will is across the | :13:00. | :13:05. | |
euro zone. Policy uncertainty coming out of oh pack, nobody trusts they | :13:06. | :13:11. | |
have got control over the oil prices any more. For me it is political | :13:12. | :13:16. | |
uncertainty that is driving the volatility in the markets more than | :13:17. | :13:20. | |
the fundamentals. Focusing specifically on the ECB. There has | :13:21. | :13:24. | |
been a lot of uncertainty about what measures would be announced. The | :13:25. | :13:28. | |
markets disappointed last time, they are expecting we will get some more | :13:29. | :13:33. | |
easing this week. But is it actually working? Every time it comes to the | :13:34. | :13:38. | |
markets people seem to be disappointed with Mario Draghi. I | :13:39. | :13:42. | |
think that will happen again. It doesn't matter what he does. It is | :13:43. | :13:47. | |
not going to be enough. From that perspective, I think people are | :13:48. | :13:52. | |
already expecting that. If we do get some kind of this post US, it is not | :13:53. | :13:56. | |
going to be enough to calm the markets. I think you could get some | :13:57. | :14:01. | |
calm in a day or two, after that we will have the same level of | :14:02. | :14:05. | |
volatility. Paul Mario Draghi, a thankless job he has at the moment. | :14:06. | :14:10. | |
Wouldn't want to be in his shoes factory we will see you soon, and | :14:11. | :14:13. | |
about five minutes time. Still to come: can you outsource your sales | :14:14. | :14:21. | |
staff? First more on the decision of the | :14:22. | :14:35. | |
finance chief at the EDF. It confirmed the director has quit over | :14:36. | :14:41. | |
the phone's plan to build the first nuclear power plant in the UK in | :14:42. | :14:42. | |
decades. Thomas Piquemal stepped down | :14:43. | :14:44. | |
because he feared the project could Joe Lynam has been | :14:45. | :14:46. | |
following the story. much do you think the governments | :14:47. | :15:03. | |
are to blame for EDF being in the predicament it finds itself today? | :15:04. | :15:06. | |
President Hollande of France and David Cameron, the Prime Minister, | :15:07. | :15:11. | |
met in France and reiterated that the Hinkley Point project was going | :15:12. | :15:18. | |
to be a pillar for future by lateral agreements between the two | :15:19. | :15:20. | |
countries. This is a major investment. ?18 billion in Hinkley | :15:21. | :15:29. | |
Point in Somerset to build a new generation of power plants. The | :15:30. | :15:34. | |
costs supersede the value of EDF's market capitalisation. So for EDF, | :15:35. | :15:43. | |
it is looking like a serious project. The resignation suggests | :15:44. | :15:52. | |
that if you cannot afford to build this project, are you going to | :15:53. | :15:56. | |
proceed and risk the company? Maybe he couldn't put his name to the | :15:57. | :16:00. | |
proceeding with this investment, if it was going to be a risk. They are | :16:01. | :16:06. | |
borrowing to pay dividends at EDF, the share price collapsed around 60% | :16:07. | :16:10. | |
in the last year or so and there is a question mark whether the funding | :16:11. | :16:13. | |
to build the project, a third of which will come from a Chinese | :16:14. | :16:16. | |
company, whether that is going to be forthcoming. It looks as if the | :16:17. | :16:20. | |
political masters decided this is going to go ahead, irrespective of | :16:21. | :16:25. | |
what the maths says. Joe, we're going to leave it there, thank you | :16:26. | :16:30. | |
very much. I'm sure that will be big news throughout the day. Shares down | :16:31. | :16:35. | |
8% at the moment over at EDF. Metro Bank, you are able to trade | :16:36. | :16:40. | |
the shares today, or at least institutions can boy and sell shares | :16:41. | :16:49. | |
today in Met fro Bank. Shares are up over 8.5% so the CEO was one of our | :16:50. | :16:54. | |
guest on Inside Track on Business Live. | :16:55. | :17:02. | |
Hello. You're with Business Live. China's chief economic planner is | :17:03. | :17:10. | |
promising the country won't is a a hard landing. The leaders unveiled | :17:11. | :17:14. | |
their plans for the next five years, but analysts are warning the detail | :17:15. | :17:17. | |
is scant. Lots of detail online. Take a look and dig in deep, but | :17:18. | :17:22. | |
let's get the Inside Track on one of the newest start-ups venturing into | :17:23. | :17:24. | |
the so-called sharing economy. Closing a deal is the cornerstone | :17:25. | :17:29. | |
of any successful business, but is this something | :17:30. | :17:31. | |
that can be outsourced? Clozer was founded last year | :17:32. | :17:33. | |
by Amy Bloomer and describes itself The platform connects businesses | :17:34. | :17:36. | |
with on-demand salespeople, reducing Given that "Clozers" are employed | :17:37. | :17:42. | |
on a short-term basis, companies can use the service | :17:43. | :18:02. | |
to meet peak-time demand. CLOZER can also be used to help | :18:03. | :18:04. | |
businesses expand internationally as the platform gives access | :18:05. | :18:07. | |
to sales teams all around the world. Ami Bloomer, chief executive | :18:08. | :18:09. | |
of Clozer joins us now. Thank you very much for coming in. | :18:10. | :18:14. | |
This is clearly a fantastic idea so long as your salespeople are good at | :18:15. | :18:18. | |
actually selling things. I believe you've got 83,000 of them. How can | :18:19. | :18:23. | |
you check they are all possibly good at doing their jobs? I think most | :18:24. | :18:28. | |
importantly 8% of sales close 80% of deals. There is a sub set of people | :18:29. | :18:32. | |
that are just extremely good salespeople. What we do is verify | :18:33. | :18:36. | |
these people have actually closed deals and produce that information | :18:37. | :18:43. | |
back to the clunt. The most verified and reviewed the closure is, the | :18:44. | :18:47. | |
more money they make on the platform. Can you choose if you were | :18:48. | :18:51. | |
a business look to go sign up to this? Can you choose the Clozer you | :18:52. | :18:58. | |
get? Of course. Each Clozer is rankted and reviewed. So it is | :18:59. | :19:01. | |
matched by your industry. You're not going to send somebody to a biotech | :19:02. | :19:04. | |
sales meeting who is selling finance products. It is not going to work. | :19:05. | :19:09. | |
In a sense, you know, it is matched, but you have to interview them. They | :19:10. | :19:13. | |
don't represent your business until you say, "OK, I feel really happy | :19:14. | :19:18. | |
with Amy." Or whoever. Zl this idea came to you after a trip to cold | :19:19. | :19:22. | |
beeia where you find it very difficult to sell anything? Yeah, | :19:23. | :19:27. | |
the genesis is five years old, when I was 25, I started my first company | :19:28. | :19:32. | |
on a credit card. My first client I signed over the phone and it was | :19:33. | :19:37. | |
Pfizer, when I signed them, I thought Pfizer are doing business | :19:38. | :19:41. | |
from me, but because I was selling a learning product, I was 25, all the | :19:42. | :19:45. | |
enterprise clients I went to, the door was closed. My first hire was a | :19:46. | :19:51. | |
grey haired man and he sold every daesmt when I found myself in couple | :19:52. | :19:57. | |
beeia, it was extremely difficult to be there as a woman who is white, | :19:58. | :20:02. | |
President Hollande, doesn't speak Spanish, trying to do business with | :20:03. | :20:08. | |
Columbian men, I spent days trying it get my deals to close, but the | :20:09. | :20:12. | |
cultural differences were the thing that held me back and the fact that | :20:13. | :20:16. | |
people buy from people and I think when we forget that in business, we | :20:17. | :20:21. | |
do ourselves a disservice. And all the stuff around women in business | :20:22. | :20:26. | |
and everything, it is you know, I'm really supporting women in business, | :20:27. | :20:29. | |
but there are some things we know from the platform that HR directors | :20:30. | :20:34. | |
buy typically from men over 40. So if you know that, send a man over | :20:35. | :20:37. | |
40. But your company is very much a | :20:38. | :20:44. | |
product of our age, isn't? You're calling it a disruptive player in | :20:45. | :20:49. | |
this market, but presumably, all the Clozer s that you've got on your | :20:50. | :20:53. | |
website are self-employed, individuals. So virtually freelance | :20:54. | :20:58. | |
in a sense? Freelancers, yes. How long do you think you're going to | :20:59. | :21:02. | |
stick around with that model? Do they want to stay in that place as | :21:03. | :21:05. | |
an individual or perhaps they will want to go and sort of start a | :21:06. | :21:10. | |
career path, corporately where they're going to get the fringes and | :21:11. | :21:15. | |
benefits that you get when you're not self-employed? The advantage to | :21:16. | :21:22. | |
being a Clozer rather than being in an institution, the market sets your | :21:23. | :21:26. | |
rate. If you're closing a lot of table, you're the table earning $150 | :21:27. | :21:33. | |
an hour, now, now your employer can't give you. The flexibility | :21:34. | :21:40. | |
really attracts Clozer s because I could go to Thailand and work on | :21:41. | :21:44. | |
deals there if I had a certain experience. People want a flexy, job | :21:45. | :21:52. | |
that they can do and get paid for it at market rate. | :21:53. | :21:57. | |
So much more to discuss. As always, Amy, thank you so much. Really | :21:58. | :22:00. | |
interesting and this business is just only about five months old so | :22:01. | :22:04. | |
we will keep an eye on it and I'm sure we will have you back. | :22:05. | :22:18. | |
The man who is said to have invented e-mails, | :22:19. | :22:22. | |
He came up with the idea of sending electronic messages in 1971, | :22:23. | :22:27. | |
and he's been credited for introducing the @ symbol as part | :22:28. | :22:29. | |
Our North America Technology Reporter, Dave Lee explains | :22:30. | :22:32. | |
Ray Tomlinson's role in developing the revolutionary technology. | :22:33. | :22:34. | |
Ray Tomlinson was working on a piece of software called ARPANET, | :22:35. | :22:37. | |
which was one of the early foundations of the Internet. | :22:38. | :22:40. | |
What he was working on was the ability to send messages | :22:41. | :22:43. | |
He did this, in the first instance, from a computer that was ten-feet | :22:44. | :22:57. | |
So the first e-mail was fairly anti-climactic in a way. | :22:58. | :23:01. | |
He says he has forgotten what was exactly in that e-mail. | :23:02. | :23:04. | |
He couldn't even tell us that, unfortunately, but certainly | :23:05. | :23:06. | |
a momentous thing in the history of the Internet and the history | :23:07. | :23:09. | |
of how we communicate with each other. | :23:10. | :23:10. | |
There are now 100 billion e-mails sent every day, | :23:11. | :23:13. | |
so it all started from that one e-mail to a computer ten feet away | :23:14. | :23:16. | |
The lovely Dave Lee who you can follow online. He is wuven our | :23:17. | :23:26. | |
technology team in San Fran. We asked you whether you thought | :23:27. | :23:31. | |
nuclear energy was worth the time, the energy and the money? Some of | :23:32. | :23:36. | |
you got in touch, we have got a viewer saying, "Well, Canada has | :23:37. | :23:40. | |
almost 40% of its energy on nuclear? Why not? It is positive." Another | :23:41. | :23:48. | |
viewer says, "Nuclear is the way backward. Renewable energy is more | :23:49. | :23:52. | |
sustainable, beneficial and minimises impact. He says the gains | :23:53. | :23:56. | |
are worth the costs. Thank you for sending in your thoughts. Stay in | :23:57. | :23:57. | |
touch with us. Manji Cheto, Africa analyst | :23:58. | :24:05. | |
at Teneo Intelligence is joining us The billionaire businessman who has | :24:06. | :24:26. | |
been sentenced to death. This is coming off the back of people | :24:27. | :24:30. | |
expecting Iran to come back into the markets. It is a reflection of the | :24:31. | :24:35. | |
fact that the Iranians want to say they're dealing with the operational | :24:36. | :24:40. | |
issues and corruption tends to be a big issue in oil producing States. | :24:41. | :24:48. | |
Clearly, he is not Iranian. He is a western businessman, just fill us | :24:49. | :24:53. | |
in. I haven't seen the detail on this? He is British Iranian. So I | :24:54. | :24:59. | |
think, this is clearly, the Iranians trying to send a message, if your | :25:00. | :25:02. | |
people want to come into our country, if they want to operate we | :25:03. | :25:08. | |
expect them to still honour an Islamic Republic and whether or not | :25:09. | :25:10. | |
people will feel can have didn't about this and this is really | :25:11. | :25:14. | |
tackling corruption, you know, I think a lot of people will kind of | :25:15. | :25:19. | |
sit on the fence on that one. We have got one more that we are going | :25:20. | :25:24. | |
to try and do quickly this. Is in the Wall Street Journal. They have | :25:25. | :25:29. | |
this population, this demographic timebomb that we are seeing across | :25:30. | :25:33. | |
the developed world? For me, it is interesting. I cover markets where | :25:34. | :25:38. | |
it is the opposite. We actually have an incredibly large youth population | :25:39. | :25:42. | |
in Africa. I think, you know, unfortunately the pensions issue in | :25:43. | :25:46. | |
Europe, nobody ever says we need to tackle this right now and | :25:47. | :25:50. | |
unfortunately, I just think, you know, politicians won't allow this | :25:51. | :25:53. | |
to get to the point where we can't actually solve it anymore. Thank | :25:54. | :25:57. | |
you. That's often the case. The tin can kicked down the road. You're | :25:58. | :26:02. | |
with Business Live. We will see you tomorrow. | :26:03. | :26:08. |