22/01/2014 Asia Business Report


Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.

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other developed countries. Time for the latest business news


from Singapore. Turbulence in the air. All Nippon


Airways gets a mixed reaction to its latest commercial.


And global leaders kickstart their annual summit at the global economic


Forum. -- World Economic Forum. Welcome to the Asia Business Report.


Japan's largest airline has pulled a television commercial after


receiving complaints from some customers who have labelled it a


racist and offensive. This was an advertisement that was


released on Saturday by Nippon Airways. It is supposed to be


humorous. It is supposed to be direct it at Japanese audiences


only. It is about promoting it as a place. It is supposed to be for


Japanese people. But it was all in English. A famous Japanese actor and


FMS Japanese comedian dressed as pilots speaking to other in


English. It is particularly the last little bit of the advertisement that


has caused offence. I will let you judge for yourself.


You want a hug? Such a Japanese reaction. Because I am Japanese. I


see. Let us change from Japanese people. This did not just go to


Japanese audiences. It spread around the world. It was an immediate


response that set it engaged in racial stereotyping and was


terrible. I Monday the company apologised. By Tuesday they pulled


the advertisement is completely. I would say that here in Japan, blonde


hair and the big nose is considered a positive attribute. It is not


really derogatory racism. Earlier I spoke with a member of the public


relations company and I asked him about his reaction to the


commercial. There is positively no place


whatsoever for advertisements which ended in racial stereotyping. There


is an argument that some people domestically, local audiences, not


finding this offensive, it is slapstick humour. There is no such


thing as a domestic advertisement. Social media has had such an


explosive effect in tearing down the boundaries. Anything can be put on


social media and become worldwide. The mistake of not realising that


this could go viral. That is exactly what happened. Let us take a look at


some of the Facebook comments. Some of the comments to give you an idea.


Some people say it is not offensive, just a bit of humour. What is key is


how we handle this and how they go from here. What would your advice


be? They were not fast enough. They took three days. They do not


apologise directly. They apologised for offence given, but not for


having produced it in the first place. It undermines the sincerity.


You have been working in PR for a number of years. What would you say


if it happened under your watch? I would make sure any advertisement


produced anywhere in the world has the whole world in mind. What is the


image that is left in the mind of the target audience? Stereotyping an


outline that may not understand them. They have to think about the


endgame. What are people going to do and think in consequence?


Catching up with some of the other business news, in Australia


inflation picked up faster than expected in the final quarter than


expected. The cost of food, travel and tobacco rose. Inflation


increased by 0.8%. Taking annual inflation to 2.7%. The rise in


prices has lower the possibility of another cut in the central bank's


lending rate. The Thai government has declared a state of emergency in


the capital. This started today. It is aimed at countering protesters


who have been on a campaign to oust the Prime Minister. The decree will


allow the authorities to impose curfews, detain suspects and banned


political gatherings. The political stand-off has resulted in millions


of dollars in lost business. And the earnings season is under way on Wall


Street. IBM has reported a 6% rise in net income. It owns $16 billion.


The revenue came in below what analysts were expecting.


Business, global and political leaders are arriving for the World


Economic Forum. Around 2500 guests will be there representing more than


1000 organisations and 100 nationalities.


It is an unlikely spot for the biggest meeting of business leaders


in the world. But here in Switzerland, 2500 executives and


wild leaders congregate each year. This year's The Miz how to reshape


the world. Whether it is by bus, train or helicopter, it is not just


finance ministers, but academics and journalists who come here. When I


was a special adviser I was always asked to propose concrete policy


solutions. But first, what is the idea of reshaping the world? It


means that the world is changing. The world will look differently from


what it looks today. Just look at the technological revolution is.


Look at the whole question of the cyber world. Look at 3-dimensional


printing. I could go on and on. There is tremendous progress made in


biology, medicine and so on. We will be in a different world. We have to


prepare. Preparations may be nearly finished, but the hard work has yet


to begin. There is great to be a lot of sessions talking about what the


world will look like. There are already issues of slow growth,


unemployment, rising inequality and climate change. Maybe there will be


a report, but usually there is not. That is why it is frequently


described as just being a talking shop. Then again, when the talking


is by leaders, the networking process can be important. I have


been invited to have tricks with a royal, dinner with a billionaire and


a fireside chat with technology entrepreneur. Some say it is those


conversations that will help reshape the world. As with all plans, only


time will tell. Record-breaking prices for Art from


China in recent years have created huge interest in contemporary pieces


from Asia. But why? We caught up with the head of a luncheon gallery


and asked him about the current interest in Asian art. -- London.


Probably the breadth and diversity of the work that we are seeing could


only be possible in greater Asia because not only have you got an


area that where economies are growing fastest in the world,


societies are changing. You have also got incredible difference and


disparity within that region. You have got China, Korea, Indonesia,


Japan, Russia and Australia. They have very different cultures. We


have seen record prices being achieved at auction for many Chinese


artists. What is the sudden interest in Asia and Chinese art? Economic


growth and interest in art have always gone hand in hand. I do not


think it is a new thing that we are going through. What tends to happen


is that it happens in cycles. There has been a shift in interest from


America and Europe over to Asia. That is a good thing. It is not just


China. The reason we are focusing on greater Asia is that there is far


greater breadth in interest in the quality of the work the artists are


producing. You run a large gallery in London. Proportionately how many


Asian artists have you been showing? We spend a lot of time in Asia


because of the growth and interest in that area. As I said, it is very


much the focus on greater Asia rather than one particular country.


That is it for this addition of Asia Business Report.


See you soon. Here are the headlines: Syria's


government has rejected allegations that carried out systematic torture


and executions of 11,000 people in one area of the country alone. The


US call for calm in Thailand as protesters


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