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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