26/09/2013 World Business Report

BBC World News. Now for the latest financial news with World Business

The end of cheap labour — wages could quadruple in China within

The end of cheap labour — wages decades, signalling huge changes for

Plus, ringing the closing bell on Abenomics win over Wall Street?

Welcome to World Business Report. I'm Maryam Moshiri. Also in the

medicines, and what can be done factory of the world. Could it day

if in doubt well be numbered? The advanced economies is closing fast.

Average monthly pay in China will rise by almost 300% within two

in the UK and the US may only go up by one third. What will that mean in

The jobs people can find and what they can earn is not just it take

individual family fortunes. One thing this report is saying is that

the narrowing age gap me —— may improve the standard. Some locations

may be priced out a newer arrivals. By 2030, Chinese wages could be

customers they're. But the place may be too pricey to make things. The

Philippines may be 243% higher, be too pricey to make things. The

still relatively low. South East Asia will remain an is based. Polish

wages may also be higher. But its closeness to the EU markets could

make it a winner. Turkey is also well placed it is government stays

stable. It is all a warning that as stable. It is all a warning that as

some poorer countries, 50% of the Counterfeit drugs have become a

some poorer countries, 50% of the drugs sold could be fake. Experts

from the World Health Organisation, drugs sold could be fake. Experts

from the World Health Organisation, the drugs industry, and medical

discuss the problem. This professor the drugs industry, and medical

drugs so dangerous? What are the Joynes asked. —— joins us. Lots

drugs so dangerous? What are the health implications. Festival, you

may not be taking drugs that can cure the condition. —— first of

may not be taking drugs that can Secondly, you may be taking drugs

that are toxic. The ingredients Secondly, you may be taking drugs

kill you. Third and probably the greatest, is when you are taking

could get the emergence of anti— biotic resistance. It is in drug

something about that. For them it is about money. That is right. There

are four group of drugs. There is legitimate market where the drugs

work and are produced according legitimate market where the drugs

the standards. The second is you have the proper drugs that are being

diverted into the black market. have the proper drugs that are being

other areas are where the drugs have the proper drugs that are being

made properly, perhaps, but they have expired. The issue we are most

concerned about are those people who are deliberately making drugs that

the film in the 1940s, with the they know will not work. Think about

the film in the 1940s, with the manufacture of penicillin. What

the film in the 1940s, with the being done about this problem? It is

not just developing countries. It is not just developing countries. It is

the US. We have globalised trade on moving into countries like the UK,

the US. We have globalised trade on purchase drugs from wherever. Viagra

Internet spam. That is one of the purchase drugs from wherever. Viagra

your own country and the whole chain complicated. In the past you may

all over the place. It is easier or would you within your own country.

all over the place. It is easier or falsified drugs to get into the

supply chain. Thank you. Japan's Thai minister is in the US this

supply chain. Thank you. Japan's to attend the UN General Assembly.

just here at the New York Stock Exchange, but also on Japan's lost

decade. The country's economy has barely grown since the early 90s.

That is changing, according to the Prime Minister. Japan is back.In a

says his economic policy is working. He is about to take questions from

American ambassadors. He has been Economic figures seem to support

this. It grew much quicker than Economic figures seem to support

peers including the US. But not Economic figures seem to support

concern is that we have had six fast, says this economist. One

concern is that we have had six recessions in 20 years. It means

unclear, exactly, how long it will they have had six recoveries, just

last beyond a few quarters. At least last beyond a few quarters. At least

the Japanese have some in to look the 2020 Olympics. It is another

reason why they pay minister says the 2020 Olympics. It is another

It looks like the Hong Kong stock investors should be optimistic about

exchange has lost out on the against flotation since Facebook. Tell us

It is the big Chinese e—commerce company. They're pursuing a stock

offering in New York. The loss of estimated to be worth more than

offering in New York. The loss of billion US, is a blow to the Hong

Kong stock exchange. Media agencies as saying negotiations broke down

after regulators decided not to as saying negotiations broke down

construction of the company and as saying negotiations broke down

allow executives to retain control of the board. Why the US? Regulators

traditional dual class of stock structure, are used by companies

such as Facebook and Google. It allows founders and management have

more voting rights than traditional shareholders. If this listing does

materialise on Wall Street, it would be a dogfight between rival trading

settlement over its role in selling investment. According to several

ports, the deal could be announced as early as today. The pay—out would

be the latest legal blow for the Jacob Lew has warned Congress that

country's borrowing limit. The US Jacob Lew has warned Congress that

country's borrowing limit. The US government reached its debt limit in