28/03/2014 World Business Report


28/03/2014

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Celebrating a $200 billion relationship. China and Germany talk

:00:20.:00:26.

trade amid fears the honeymoon could be over. A smart move or an

:00:27.:00:32.

admission of defeat? Microsoft's new boss announces that happy chap

:00:33.:00:39.

office is coming to the iPad. `` Office.

:00:40.:00:45.

Look to World Business Report. In just a moment, saving black brew

:00:46.:00:49.

from extinction. `` BlackBerry. Is from extinction. `` BlackBerry. Is

:00:50.:00:55.

it the tech industry's version of Mission impossible. First, we start

:00:56.:01:02.

with the ChinaChinese President's tour of Europe. Multibillion`dollar

:01:03.:01:15.

deals have been yielded, from energy agreements to orders for Airbus

:01:16.:01:17.

jets, and an investment in struggling car maker Peugeot. Trade

:01:18.:01:21.

between China and Germany is worth $200 billion a year. That is more

:01:22.:01:27.

than trade with France, Britain and Italy combined. German firms moved

:01:28.:01:34.

into China more aggressively than their European rivals, led by the

:01:35.:01:37.

big car makers. Volkswagen was the first foreign car maker to set up

:01:38.:01:40.

shop in China over 30 years ago. Rival BMW sells far more cars in

:01:41.:01:44.

China than it does at home in Germany. However, that growth is

:01:45.:01:46.

slowing and some German bosses want to see less reliance on China and

:01:47.:01:50.

more focus on other markets like Africa. Laura Hesse is deputy

:01:51.:02:05.

director of the trade bureau. We're just talking about the history in

:02:06.:02:08.

terms of trade that has bound China and Germany for many years. How

:02:09.:02:12.

would you describe the current state the relationship? China is an

:02:13.:02:19.

important trade partner for Germany, it is the second`biggest export

:02:20.:02:25.

market for German products the EU. Relations between Germany and China

:02:26.:02:29.

are still very good. It is a very important day today, not only for

:02:30.:02:33.

China's president, but also for Angela Merkel. Both economically and

:02:34.:02:39.

also strategically, geopolitically, in light of the crisis in the

:02:40.:02:45.

Ukraine. As I was saying, the rapid rise in trade between the two

:02:46.:02:49.

countries has stalled somewhat in recent years, hasn't it? Is Germany

:02:50.:02:54.

actively trying to avoid dependence on China? Or perceived dependence on

:02:55.:03:02.

China? I would not say that Germany is dependent on China. It is the

:03:03.:03:06.

biggest market, the second`biggest, as I said, but at the same time,

:03:07.:03:17.

relations between Germany and China are importing geopolitically, in the

:03:18.:03:20.

light of what is happening in the Ukraine. China's relations to

:03:21.:03:28.

Germany are also important for Angela Merkel, because she needs the

:03:29.:03:36.

partnership, the Chinese partnership, if she is going to off

:03:37.:03:43.

she would have a stronger position vis`a`vis Vladimir Putin, if she has

:03:44.:03:49.

stronger relations with China. There is some market speculation that

:03:50.:03:56.

Frankfurt is vying for a position as a offshore trading hub for the yuan.

:03:57.:04:08.

This deal might be signed on the same day that China's president is

:04:09.:04:15.

visiting Angela Merkel. This would be important for Frankfurt, which

:04:16.:04:20.

wants to establish itself as an offshore hub for trade with yuan

:04:21.:04:26.

settlement, and also clearing of yuan trade. This is very important

:04:27.:04:34.

for Frankfurt. You mentioned earlier, some of the political

:04:35.:04:37.

relationships between Germany and Berlin, vis`a`vis Ukraine, recently

:04:38.:04:44.

there was also that spat over solar panels, the decision of the EU to

:04:45.:04:53.

impose regulations that am settled a lot of German companies that had big

:04:54.:04:57.

stakes in China. They come through that now? China has been very act

:04:58.:05:05.

of, not only in Germany, but also in the UN, France, and it is trying to

:05:06.:05:14.

more or less have good contacts with other European countries, especially

:05:15.:05:19.

in light of the trade conflict from last year. Eventually, it might try

:05:20.:05:28.

has been outlining his ideas for the light,

:05:29.:06:20.

has been outlining his ideas for the future of the country. Office will

:06:21.:06:22.

now be available for iPad, but is that a smart move, or an admission

:06:23.:06:30.

of defeat in the post` PC world. Our correspondence, Richard Taylor, was

:06:31.:06:33.

there. This speech by Satya Nadella was the

:06:34.:06:37.

first time the new loss has been able to outline his vision for the

:06:38.:06:41.

country. A lot of investors were worried that he was too much of an

:06:42.:06:45.

insider to be able to effect real change. He talked about a mobile

:06:46.:06:54.

first, Cloud first strategy. The real goal for us is to step up to

:06:55.:06:58.

provide the applications and services that empower every user,

:06:59.:07:02.

across all of these devices, and all of these experiences. That is

:07:03.:07:08.

perhaps job number one that we do, to empower people to be productive,

:07:09.:07:14.

to do more across all devices. The move of Office to iPad really

:07:15.:07:21.

signifies a strategic shift and a willingness to embrace rival

:07:22.:07:26.

hardware. Previously, they were just holding it hostage to Windows. The

:07:27.:07:30.

real question is, how much of an audience will it find. In the past

:07:31.:07:40.

few years, developers have had plenty of perfectly respectable

:07:41.:07:42.

applications that work well enough for a lot of users. If it is

:07:43.:07:47.

executed well, then it provides one less reason for people to buy into

:07:48.:07:55.

Microsoft's own hardware, like the Surface tablet. Microsoft is

:07:56.:08:01.

operating in a post` Windows world, and now sat `` Satya Nadella has to

:08:02.:08:11.

work out how to best embrace it. This could be mission impossible.

:08:12.:08:14.

This is John Chen, the new boss of black brew, tasked with saving it

:08:15.:08:23.

from extension. `` BlackBerry. Analysts expect the slump to have

:08:24.:08:28.

continues, with sales down 59% on last year. Investors seem to have

:08:29.:08:31.

confidence. BlackBerry still has one fan, the

:08:32.:08:40.

president. The White House is testing other phones, but the user

:08:41.:08:46.

in chief is not switching. A relief for BlackBerry, but also a reminder

:08:47.:08:50.

of how far the company that popularised smart phones has fallen.

:08:51.:08:56.

This is the tech insider charge with reversing the Canadian firm's

:08:57.:08:59.

fortune. John Chen, watched carefully by Wall Street. The the

:09:00.:09:04.

real focus by investors is going to be on what the new CEO, John Chen,

:09:05.:09:10.

has in store in terms of maximising shareholder value. The wanting alike

:09:11.:09:19.

about him is that he has come in and is viewing BlackBerry not just as a

:09:20.:09:23.

device, but that all the assets and what they are worth. Touted by the

:09:24.:09:28.

former boss as the company's salvation, these phones failed to

:09:29.:09:33.

win back market share. Under John Chen, BlackBerry teamed up with a

:09:34.:09:39.

Chinese manufacturer to save money and produce a low`cost phone. Since

:09:40.:09:44.

John Chen took over last November, black area's share price has risen

:09:45.:09:49.

by roughly 40%. Investors want to believe that he will succeed where

:09:50.:09:56.

others have failed. Nobody expects BlackBerry's failures to be fixed

:09:57.:09:59.

overnight. When it reports its earnings, investors will want to see

:10:00.:10:02.

evidence that its fate is not misplaced. `` of their faith.

:10:03.:10:09.

Shares mostly road `` rose in Asia on Friday. This is the view across

:10:10.:10:19.

the region at the moment. Goodbye for now.

:10:20.:10:34.

Alice will be back shortly when we review the papers. We want to

:10:35.:10:39.

highlight some new research, suggesting that thousands of it is

:10:40.:10:44.

children, some as young as six, are regularly watching pornography on

:10:45.:10:45.

the

:10:46.:10:46.

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