22/01/2014 Asia Business Report


22/01/2014

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

:00:00.:00:14.

from Singapore. Turbulence in the air. All Nippon

:00:15.:00:22.

Airways gets a mixed reaction to its latest commercial.

:00:23.:00:29.

And global leaders kickstart their annual summit at the global economic

:00:30.:00:32.

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

:00:33.:00:40.

Japan's largest airline has pulled a television commercial after

:00:41.:00:43.

receiving complaints from some customers who have labelled it a

:00:44.:00:48.

racist and offensive. This was an advertisement that was

:00:49.:00:53.

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

:00:54.:00:59.

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

:01:00.:01:07.

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

:01:08.:01:12.

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

:01:13.:01:18.

FMS Japanese comedian dressed as pilots speaking to other in

:01:19.:01:21.

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

:01:22.:01:26.

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

:01:27.:01:30.

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

:01:31.:01:39.

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

:01:40.:01:46.

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

:01:47.:01:54.

response that set it engaged in racial stereotyping and was

:01:55.:01:58.

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

:01:59.:02:04.

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

:02:05.:02:11.

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

:02:12.:02:17.

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

:02:18.:02:22.

relations company and I asked him about his reaction to the

:02:23.:02:25.

commercial. There is positively no place

:02:26.:02:31.

whatsoever for advertisements which ended in racial stereotyping. There

:02:32.:02:41.

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

:02:42.:02:45.

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

:02:46.:02:51.

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

:02:52.:02:56.

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

:02:57.:03:02.

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

:03:03.:03:11.

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

:03:12.:03:21.

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

:03:22.:03:36.

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

:03:37.:03:45.

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

:03:46.:03:51.

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

:03:52.:03:56.

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

:03:57.:04:00.

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

:04:01.:04:07.

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

:04:08.:04:15.

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

:04:16.:04:19.

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

:04:20.:04:25.

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

:04:26.:04:30.

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

:04:31.:04:36.

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

:04:37.:04:41.

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

:04:42.:04:45.

inflation picked up faster than expected in the final quarter than

:04:46.:04:51.

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

:04:52.:04:58.

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

:04:59.:05:03.

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

:05:04.:05:13.

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

:05:14.:05:19.

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

:05:20.:05:23.

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

:05:24.:05:28.

allow the authorities to impose curfews, detain suspects and banned

:05:29.:05:32.

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

:05:33.:05:39.

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

:05:40.:05:45.

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

:05:46.:05:57.

The revenue came in below what analysts were expecting.

:05:58.:06:02.

Business, global and political leaders are arriving for the World

:06:03.:06:07.

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

:06:08.:06:12.

1000 organisations and 100 nationalities.

:06:13.:06:21.

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

:06:22.:06:26.

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

:06:27.:06:31.

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

:06:32.:06:37.

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

:06:38.:06:43.

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

:06:44.:06:48.

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

:06:49.:06:56.

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

:06:57.:07:02.

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

:07:03.:07:08.

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

:07:09.:07:12.

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

:07:13.:07:19.

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

:07:20.:07:25.

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

:07:26.:07:32.

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

:07:33.:07:38.

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

:07:39.:07:43.

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

:07:44.:07:46.

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

:07:47.:07:53.

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

:07:54.:07:57.

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

:07:58.:08:00.

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

:08:01.:08:07.

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

:08:08.:08:10.

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

:08:11.:08:17.

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

:08:18.:08:22.

time will tell. Record-breaking prices for Art from

:08:23.:08:27.

China in recent years have created huge interest in contemporary pieces

:08:28.:08:32.

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

:08:33.:08:38.

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

:08:39.:08:45.

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

:08:46.:08:50.

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

:08:51.:09:00.

area that where economies are growing fastest in the world,

:09:01.:09:03.

societies are changing. You have also got incredible difference and

:09:04.:09:08.

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

:09:09.:09:17.

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

:09:18.:09:22.

have seen record prices being achieved at auction for many Chinese

:09:23.:09:28.

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

:09:29.:09:35.

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

:09:36.:09:41.

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

:09:42.:09:44.

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

:09:45.:09:51.

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

:09:52.:09:58.

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

:09:59.:10:02.

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

:10:03.:10:07.

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

:10:08.:10:13.

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

:10:14.:10:18.

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

:10:19.:10:26.

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

:10:27.:10:31.

That is it for this addition of Asia Business Report.

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

:10:39.:10:46.

government has rejected allegations that carried out systematic torture

:10:47.:10:50.

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

:10:51.:10:55.

US call for calm in Thailand as protesters

:10:56.:10:56.

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