22/01/2014 Asia Business Report


22/01/2014

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most other developed countries. It has raised its growth forecast to

:00:00.:00:00.

2.4%. Time for the latest business news from Singapore.

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Turbulence in the air, all live on a way is gets the mixed reaction to

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its latest commercial. And we are in Davos where global leaders at the

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world economic forward kickstart their annual summit. -- walled

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economic Forum. Welcome to the Asian business report. Japan's Vadis

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airline, Nippon Airways, has pulled a television commercial after

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receiving complaints that labelled the advert racist and offensive.

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This was a television ad that was released on Saturday by Nippon

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Airways, it is supposed to be humorous and it is supposed to be

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directed at Japanese audiences only. It is about being promoted as a

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place. It is supposedly funny and the Japanese people. The ad was all

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in English and its famous Japanese actor and a famous Japanese comedian

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dressed as airline pilots speaking to each other in English and it is

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particularly the last little bit of the ad that has caused offence. I

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will let you judge for yourself. Take a look. Do want a hug? Such a

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Japanese reaction. I am Japanese. Won I see. Let's change the image of

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Japanese people. Sure. This did not just go to Japanese audiences, it

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spread around the world. There was a media response e-mailing the AMA

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saying that it engages in racial stereotyping. They apologise on

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Monday and by Tuesday they pulled the advert completely. You can say

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it is engaging in racial stereotyping in particular the big

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nose, in Japan, blonde hair and the big nose is a positive attribute.

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That is not really the rocketry races. -- derogatory racism. I asked

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someone from a public relations company their reaction. There is no

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place in marketing for racial stereotyping. No matter how well the

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intention. There is an argument that some people, domestically, in fact,

:02:40.:02:45.

the Japanese local audience do not find it particularly offensive, a

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bit of slapstick humour. There is no such thing as a domestic advert any

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more. Social media has a explosive and disruptive effect. Any advert

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that can be put on social media becomes wild ride -- world wide.

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They did not realise this could go viral. That is exactly what

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happened. It is a different era. Let's look at the Facebook comments

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that came into the AMA Facebook page. Your latest commercial is

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import taste. Others say it is not that offensive, it is a bit of

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humour. What is clean now, Bob, is how the AMA have handled this and

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where they go from here. I don't think they'd pulled the advert

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fastener. It took three days. They did not apologise the right way.

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They apologised for offence but did not apologise for having produced

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and run the advert in the first place which undermines the

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sincerity. You have been working in public relations for a number of

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years. If this happened on your watch, what would you say? Who

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signed a soft? I would make sure that any advert that is produced

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anywhere in the world frame old -- multinational organisation has the

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world in its mind. Global passengers of the AMA are stereotyping. What

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are the people out there going to do and think in consequence of such an

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advert. Bob Picard there. In Australia inflation picked up at a

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faster than expected case in the final quarter of last year as the

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cost of food, holiday and travel as well as tobacco rose. Inflation

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ticked up by 0.8% in October to December. Taking annual inflation to

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2.7%. The rising prices has lowered the possibility of another cut to

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the central bank key lending rate which is at a record low of 2.5% the

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Thai government has declared a state of emergency in the capital Bangkok

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from 60 days for today. The move is aimed at countering protesters who

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have been on a campaign to oust the prime Minister Yingluck Shinawatra.

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The decree will grant extra powers. The political stand-off which has

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been going off for two months now has resulted in millions of dollars

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in lost business. Business and global political leaders are

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arriving at the Swiss ski resort of Davos. Two and half thousand guests

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will be there representing 1000 organisations. Lindy you is there

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for us. It is an unlikely spot for the

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biggest meeting of business leaders in the world. Here in Davos,

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Switzerland, 2500 executives and world leaders congregate each year.

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This year is how to reshape the world. Whether it is by bus, train

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or helicopter, it is not just CEOs and finance ministers but academics

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and journalists who come here to finances. When I was a special

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adviser, I was always asked to compose concrete policy solutions.

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First, what does he had think reshaping the world means? Reshaping

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means the is changing. The world in ten years will look different to

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what it looks today, look at the technological revolutions look at

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

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printing. I could go on and on, the tremendous progress made in biology,

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

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prepare for this world. Preparations may nearly be finished but the hard

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work is yet to begin. There is going to be a lot of sessions talking

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about what the reshape the world will look like. There are the issues

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of slow growth, high unemployment, rising inequality and climate change

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to name just a few. Maybe there will be a report but usually there is.

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That is why Davos is frequently described as being a talking shop.

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When the talking is by leaders, the networking process can be important.

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I have been invited to have drinks with a royal, dinner with a

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billionaire and a fireside chat with a tech entrepreneur. Some would say

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it is those conversations rather than any concrete outcomes that will

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matter to reshape the world. As with all grand plans, time will tell.

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Record-breaking prices for art from China in recent years have created

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huge interest in contemporary pieces from Asia. Why? We caught up with

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Nigel Hirst, the head of the London Saatchi Gallery and asked him about

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the current interest in Asian art. It is particularly interesting, the

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region, probably for the breadth and the diversity for the work we have

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seen that would only be possible in greater Asia. Not only do you have

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an area that has countries whose economies are growing the fastest in

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the world. Societies are changing the fastest in the world. Also, you

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have incredible and different disparity within the region. You

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have China, Korea, Indonesia, Japan Russia and Australia. All in same

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region, having different cultures. We have seen record prices being

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achieved at auction for Chinese artists. Why is a sudden interest in

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Asian and Chinese art in particular? I think growers and interest in art

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goes hand in hand. If you look back in history. It is not a new thing.

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It happens in cycles and certainly there has been a shift in interest

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particularly from America and Europe to Asia. I think that is a good

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thing. It is not just China. We are focusing on rate Asian because there

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is far greater breadth and interest, in particularly in the

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equality of the work the artists are -- in the quality of the work the

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artists are producing. Hamley more Asian artists have you been showing

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in recent years? We spend a lot of time in Asia because of the growth

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in interest in that area and the number of artists we have seen from

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that region. It is very much the focus on greater Asia rather than

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one particular country. Latterly markers before we go in the shelling

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stock exchange has reacted to the fact that inflation figures are out

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and consumer rights as rose by 0.8% in the fourth quarter, taking

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inflation up to 2.7%. The Asian markets are pretty subdued this

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morning and are reacting to the news there may be a further injection of

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cash from the US Federal reserve. -- a withdrawal of cash, I should say.

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The main news stories in London this hour. Syrup of my government has

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rejected without credibility allegations it has systematically

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tortured

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