01/11/2012 World Business Report

Young and out of work, the latest figures out of South Africa shows

50% of young people remain unemployed.

Global financial markets have been waiting for this evidence. New

orders have climbed in China. It is a significant climb the economy is

rebounding after seven quarters of slowing down. The timing, sides

with the handing of power next week. Are you smiling? Is who is it? Have

we turned a corner in China? I am smiling because I am listening to

the lead in your story. It is what I am hearing from a lot of the

analysts. China has turned the corner. But I don't see that much

difference with these numbers. The HSBC index sees contraction. There

has been a little up tech. Sorry to interrupt. In terms of the

difference, for the first time in six months, there has been an

expansion in new orders that came through in this report. Surely,

that has to be a positive sign. That is good news. If that

continues, these are month leer numbers, and we want to see a trend.

I did see a change in the overwrought narrative of the

Chinese economy. -- overall. People say that somehow the government

will start pumping money into the economy. That may result in an

optic. Most economists in China think it will actually be counter-

productive. That it will delay or interfere with the real economic

adjustment China needs to make that China needs. I don't see it as a

narrative of the slowdown. What is the real economic adjustment that

needs to take place? China needs to adjust from investment-led growth.

To an economy driven by domestic consumption. One key indicator of

the around is what happens with the property market. You property will

start falling the 24%, compared to last year. It will indicate that at

a key sector is still very sick. Thank you for your time.

Panasonic shares have plunged by nearly one-fifth today in Tokyo, to

their lowest level in more than three decades. What is going on

with Panasonic? What is spooking investors right now is the firm's

long-term future and its ability to turn around its operations.

Restructuring costs are going to be 11 times greater than previously

thought. It will try to clean house of poorly performing operations.

When you speak of analysts, they have prays -- praised Panasonic's

President and his resistance to change. Sony and Sharp are

struggling with massive losses. They were once world leaders in

technology innovation. They are facing problems with increased

competition. There is slumping demand for their products. Of the

Japanese are losing out against the Samsung and Apple manufacturers

because if they are nimble, better- funded with the competitive age.

Rivals say they have been quick to converge with platforms including

smartphones and tablets. The Japanese technology markets --

giants are slow to adapt. The latest unemployment numbers

will be released in South Africa. They will confirm that despite

being one of for the most developed countries, youth unemployment is

running at 50%. Those -- some people believe it will take jobs

Scenes like these are common across South Africa. One in four people

unemployed. Many have no choice. Some are waiting for casual work.

This person who lives with his grandmother has spent years relying

on jobs he confined just to bring money home to buy food. Now he has

secured a position in a textiles factory due to a local government

scheme. For me, it is the beginning of great things. After five years,

maybe I can work in the hedge or department. It is a good

opportunity for me. -- human- resources. Since its launch, the

skills program has placed many young people in different jobs.

Participants receive a monthly salary from the government of

roughly $150. Something it is not a way to exploit cheap labour. Some

people do not have an income. For us, the Government is supporting us

in training to us. It is ensuring employment. Service has estimated

that 15% of South Africa's young people are out of work. In

communities like this one, many people grow up expecting not to

find for more employment. The government says the program should

be expanded across the country. is something to this country cannot

allow to carry on with. It puts our whole system at risk. The President

has announced plans for national youth wage subsidies but labour

unions are against it. Some believe the focus should be on job creation

in said. It would promise of that jobs are being created. All we have

seen is that the displacement of older workers for the younger

workers. The bosses are able to pocket the subsidies. For all the

ideological debates, for Ms South Africa and, it is about finding a

An arm of China's sovereign welfare... As bench can dormant has

sold a stake of millions of dollars but plans to remain a major

investor in Heathrow. Sony has made profits after last