Browse content similar to 19/03/2014. Check below for episodes and series from the same categories and more!
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Treasury says a new design that's more difficult to replicate is | :00:00. | 3:59:59 | |
needed Now on BBC News all the latest | :00:00. | :00:00. | |
business news live from Singapore. A property developer on the verge of | :00:00. | :00:20. | |
bankruptcy. What are the risks facing China's financial system? | :00:21. | :00:24. | |
Spend or save? We look at the habits of youth in the Asia`Pacific region. | :00:25. | :00:32. | |
Thank you for watching Asia Business Report. | :00:33. | :00:40. | |
We start with China. The looming bankruptcy of a mainland property | :00:41. | :00:43. | |
developer that owns billions to domestic banks is causing jitters in | :00:44. | :00:47. | |
the property industry. There are growing concerns about that in | :00:48. | :00:51. | |
China, following the first domestic bonds default earlier this month. | :00:52. | :00:55. | |
There are also worries about a property bubble in the mainland | :00:56. | :00:59. | |
which might burst. A consultant working in property, based in | :01:00. | :01:03. | |
Shanghai, shared his outlook earlier. It will cool down but we | :01:04. | :01:14. | |
definitely do not see a hot `` hard landing. Back in 2011 we saw this, | :01:15. | :01:22. | |
because of a credit environment, property cooled down but it started | :01:23. | :01:28. | |
to rebound in 2012 and 2013. Given the current market environment, the | :01:29. | :01:33. | |
property market will remain relatively stable in the months to | :01:34. | :01:40. | |
come. We hear of ghost cities in China where there are vast areas of | :01:41. | :01:46. | |
empty offices and housing. Is the Chinese government contributing to | :01:47. | :01:54. | |
the problem? Yes, I think in terms of organisation, in 2000, at the | :01:55. | :02:03. | |
beginning of the century the oven is a rate was 35% and now it is 35%. | :02:04. | :02:08. | |
There is a huge increase in urbanisation. Local governments have | :02:09. | :02:19. | |
very much relied on the property market to find this kind of | :02:20. | :02:23. | |
urbanisation so that has resulted in issues like what you just | :02:24. | :02:27. | |
mentioned. There are unaffordable prices in cities but in the lower | :02:28. | :02:35. | |
tier cities, there is increasing concern about the oversupply of | :02:36. | :02:45. | |
property. The US Federal reserve's two`day meeting is under way. The | :02:46. | :02:48. | |
biggest test of the leadership of the new chair will be how she shifts | :02:49. | :02:53. | |
from firefighting mode back to neutral. | :02:54. | :03:00. | |
She is one of the most powerful women in the world. This Wednesday, | :03:01. | :03:04. | |
Janet Yellin posts first news conference as chairwoman. On Wall | :03:05. | :03:11. | |
Street, economists say that this is a transitional moment for the US | :03:12. | :03:18. | |
central bank. The economy is gaining momentum and they are on their way | :03:19. | :03:22. | |
and this is why the process of exiting accommodative policy has | :03:23. | :03:29. | |
begun. Managing a smooth exit from extraordinary monetary policy | :03:30. | :03:33. | |
accommodation is one of the main challengers. What can expect? | :03:34. | :03:39. | |
Tapering will continue. The Fed will still buy bonds, just not as many. | :03:40. | :03:47. | |
Wall Street is watching whether `` what the Fed will say about forward | :03:48. | :03:51. | |
guidance. They have vowed not to raise rates as long as unemployment | :03:52. | :03:57. | |
was above 6.5%. Unemployment in America has fallen faster than | :03:58. | :03:59. | |
expected but nobody believes that the job market is terribly healthy. | :04:00. | :04:04. | |
This threshold will likely be scrapped. The change will be in how | :04:05. | :04:09. | |
they nuanced their forecasts, what they call forward guidance. I do not | :04:10. | :04:15. | |
think that their timeframe on interest rates will change to 2015. | :04:16. | :04:22. | |
But you will see a change in how they talk about it. She may have `` | :04:23. | :04:29. | |
she may have more control than any central banker, but it will be the | :04:30. | :04:34. | |
health of the US economy that determines when she declares victory | :04:35. | :04:45. | |
and lets borrowing costs go up. The Japanese economy has reported its | :04:46. | :04:47. | |
smallest trade deficit in nine months. Exports rose nearly 10%. The | :04:48. | :04:55. | |
Japanese yen against the dollar remains much higher. That translated | :04:56. | :05:02. | |
to another trade deficit for a 20th straight month. Young people have | :05:03. | :05:09. | |
access to more information than ever before about personal finances but | :05:10. | :05:11. | |
there are more temptations to spend online. What are the youth of today | :05:12. | :05:15. | |
doing with their money? Are they saving it or spending it? Are | :05:16. | :05:23. | |
reported comes from Jakarta. I do not have trouble paying my bills | :05:24. | :05:27. | |
because they keep tracking my expenses from my bank statements so | :05:28. | :05:35. | |
I know how much you spend. I can't afford a long`term financial plan | :05:36. | :05:42. | |
yet because my monthly spend and my monthly income balance. At my age | :05:43. | :05:48. | |
expenses is something that you can't control. We know about needs and | :05:49. | :05:58. | |
wants at my age, but I have a lot of wants so I cannot control my | :05:59. | :06:02. | |
expenses that easily. Earlier I spoke to an analyst from MasterCard | :06:03. | :06:08. | |
which completed a study in financial literacy among young people in the | :06:09. | :06:14. | |
region. Most young people at school do not have a lot of money so it is | :06:15. | :06:19. | |
only when they start to get a job that they are starting to take it | :06:20. | :06:30. | |
seriously. Being more responsible? Things take time. Have you seen a | :06:31. | :06:34. | |
difference in mentality between the young in Asia compared to the West? | :06:35. | :06:42. | |
Not really. You could say that there can be some conservatism in some | :06:43. | :06:47. | |
places, northern Asia and Japan for example, but broadly speaking the | :06:48. | :06:55. | |
concerns and issues are the same. It is more about the underlying | :06:56. | :06:59. | |
economic environment. The Internet has made it easier for people to | :07:00. | :07:04. | |
shop online. How does this get in the way of saving versus spending? I | :07:05. | :07:09. | |
do not think it gets in the way. What happens is that people use the | :07:10. | :07:12. | |
Internet for information. They rely on their peers and social networks. | :07:13. | :07:17. | |
They are thinking about what they need to spend and then go after the | :07:18. | :07:22. | |
smaller amounts because they do not have a lot of access to credit in | :07:23. | :07:29. | |
they're thinking about the future. `` and they are. What do you want to | :07:30. | :07:37. | |
be when you grow up? Or are you too old for that question? Many said | :07:38. | :07:45. | |
they wanted to be a pop star. How does this job in Korea rank with | :07:46. | :07:46. | |
others? TRANSLATION: The first time ever | :07:47. | :08:06. | |
performed in a big stage was through a TV audition show. I was one of the | :08:07. | :08:13. | |
contestants and got selected for the top ten. Before, I played in an | :08:14. | :08:22. | |
amateur band but not professionally. I never owned anything for singing. | :08:23. | :08:27. | |
Sometimes they had to pay to get on stage. For me, those days were like | :08:28. | :08:34. | |
a relentless wave hitting the shores again and again. I was not sure | :08:35. | :08:40. | |
where my singing would lead me. It is just about doing it, playing | :08:41. | :08:46. | |
music. Through this process, my dreams and passion became more | :08:47. | :08:52. | |
focused. You get more disciplined and become more organised. That is | :08:53. | :09:02. | |
how I grew. To get into Kpop, you have to prepare and work for it. If | :09:03. | :09:07. | |
you want to do dance music, you really have to practise your dance | :09:08. | :09:11. | |
moves to get noticed. For those who want to play in a band, they have to | :09:12. | :09:16. | |
train for a long time until they find opportunities and they can grab | :09:17. | :09:21. | |
the chance. The bottomline is that it requires a lot of time and | :09:22. | :09:29. | |
effort. `` bottom line. Those already in the business may appear | :09:30. | :09:36. | |
nonchalant, but everyone had days of sweating blood. After my debut, the | :09:37. | :09:42. | |
hardest thing in my new job was the change in lifestyle. Now I have to | :09:43. | :09:47. | |
wake up early in the morning, go to the gym, stick to a preplanned | :09:48. | :09:52. | |
diet. They even forced me to quit smoking and drinking. I think the | :09:53. | :10:01. | |
coolest thing about becoming a Kpop Star is that I can pursue whatever | :10:02. | :10:07. | |
music I like. The fillet true sense of exhilaration, like I have never | :10:08. | :10:10. | |
felt before. It is not just the felt before. It is not just the | :10:11. | :10:14. | |
fans, but the music that you feel throughout your body. On stage it is | :10:15. | :10:19. | |
to be there, able to sing at the top of your lungs. | :10:20. | :10:28. | |
Thank you for investing your time with us. Sport Today is next. The | :10:29. | :10:43. | |
main news stories this hour. The search the missing Malaysian airline | :10:44. | :10:46. | |
has been widened to an area the of Australia. Relatives of passengers | :10:47. | :10:52. | |
threatened their hunger strike in protest at | :10:53. | :10:53. |