31/03/2014 Asia Business Report


31/03/2014

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semi`final in 1989. Now on BBC News, all the latest business news, live

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from Singapore. Climate change. We look at it impact

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on people's lives and the global economy. Find out why entrepreneurs

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are choosing to launch start`ups in India.

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Welcome to Asia Business Report. I'm Rico Hizon. The intergovernmental

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panel on climate change has released its latest report on possible

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impacts on the sea levels and the weather, not just on the world's

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environment but the economy as well. Report says climate change could

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potentially stifle economic expansion and some of the most

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significant effects will be felt in Asia. Earlier, I spoke with an

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author. The impacts don't strike very large. The global aggregate

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impact is in the order of .2% of GDP. That in the global aggregate.

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For individual countries, like low`lying countries, the impact

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would be much higher due to the combined pressures of sea level

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rise, published in pressures and other vulnerabilities in the

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ecosystems and the economic basis. It is understood that coastal areas

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in Asia will be among the worst affected. What kind of impact will

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it have on the region? It will have a strong impact. Most of the

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world's most densely populated areas are in Asia, south`eastern and

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eastern Asia. The impact this will have will very much depend on how

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society decides to respond to climate change. Both in terms of

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whether we collectively produce gas emissions, and therefore produce the

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sealevel rise rate, but all of the adaptation measures. We can either

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fortify seawalls or adopt more flexible response mechanisms that

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ultimately might mean that in some areas are managed strategic

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relocation of the most vulnerable settlements might be needed. But it

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always comes down to a local decision`making process, that needs

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to be connected with national and in some cases incident at ``

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international strategies. More signs of a slowdown in Japan, as the

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latest numbers reveal industrial production falling by more than 2%.

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That was in February. The slowdown suggests visitors are placing fewer

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orders in factories due to slowing demand ahead of a planned sales tax

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hike. Effective tomorrow, Japan's consumption tax `` tax goes up 2%.

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China's largest privately owned ship will do has posted a loss of $1.4

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billion for last year. It is a second straight annual loss for the

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company. It blamed the losses on declining orders during a downturn

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in the shipping sector. The company turned to the government for

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financial help last year and warned it would report a substantial loss

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due to its conservative sales strategy.

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In Taipei, hundreds of thousands of demonstrators took to the streets on

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Sunday near the presidential palace to protest at government policy

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which aims to bring the island economically closer to the

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mainland. The deal would allow service sector companies on both

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sides to open up in each other's territories. The protest have been

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going on for two weeks and shows no signs of letting up.

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In Thailand, Prime Minister Yingluck Shinawatra has been summoned to

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appear before the country's national anticorruption body to date to

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defend herself against charges of being negligent up with the

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controversial rice subsidy scheme. The plan paid farmers above market

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rates for their crops at political opponents allege that the initiative

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hurt the country's rice reduction industry and fostered corruption. It

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found guilt `` if found guilty, she faces an impeachment in the upper

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house of a possible five`year ban from politics.

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Over the weekend, tens of thousands of anti`government protesters were

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marching through Bangkok in a fresh attempt to unseat the Prime

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Minister. It was the biggest show of force from the demonstrators since

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the court ruled earlier this month that February's general poll was

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invalid. Voting in India begins in over one

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week and for whichever party comes into power, kickstarting growth will

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be the biggest challenge. Despite the slowdown over the past couple of

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years, the number of start`ups in India has been on the rise. And it's

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not just local entrepreneurs setting up his nurse.

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This might look like a car park but in fact it is the home of one of the

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first companies in India that lets you hire a car and then drive it

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yourself. Unlike most developed countries, until recently anyone

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wanting to rent a vehicle here to hire a driver as well. But the new

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alternative is already proving successful. A lot of people thought,

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these white Americans, they think they are going to come here and

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start a company. But as soon as things turned tough, they are going

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to run right back to good job opportunities in San Francisco and

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New York. There is really no official figure but it is estimated

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that over 1 million new small and medium `` medium`sized firms are

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launched in India every year. According to the World Bank, this is

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one of the toughest races to start a business. Mark's journey in India

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began six years ago when he and his wife decided to move here from the

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UK to start branding and corporate communication company. This was the

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time that the Indian economy was the toast of the world, growing at about

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10% annually. But Mark feels this is still the place to do business. I've

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seen other people who have looked at the same opportunity we've seen, who

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have come and may be invested 18 months or two years and not been

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able to make the returns they expected. They say, fine, we will do

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something else. I think the next 5`10 years could be very exciting.

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We remain pretty bullish about it. Clearly not without its challenges.

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And it's not only individuals who are optimistic about start`ups here.

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But investors as well. Last year, backers put $1.6 billion, US, into

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Indian start`ups with the e`commerce sector most popular. Industry feels

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this will encourage more ex` patriots to look at India for new

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opportunities. It is good to see this reverse kind of migration

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happening. It's good because you suddenly have very open, very

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entrepreneurial thinking, where many of us in India don't have that

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openness of mind. Hats off to them. Making it easier for ex` patriots to

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start a business here is something the government has been talking

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about for a while. And, if that happens, that might tempt more

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foreigners like Mark to come here, not just to sample the culture and

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science and food but to have a go at being an entre `` Indian

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entrepreneur. In the movie industry, films about

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superheroes are as American as apple pie that new technology means that

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film production is no longer tied down to Hollywood studios. Movies

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are becoming a global industry and increasingly Asia is becoming a

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major hub, especially for postproduction work. I caught up

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with a director of the Amazing Spiderman II film. He said some of

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the postproduction was done in India. I think there is something

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important with a large movie, you have to appeal to a massive

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audience. That requires often a pre`existing awareness of the

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character. But with a character like Spiderman, there are so many

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different inflections. It can withstand so many different

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interpretations, that you can find something new in something familiar.

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How much of the film production is made in Asia? There are parts of the

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visual effects that were done in India, in more buy. There was a

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whole team of artists. `` in Mumbai. They worked on the effects. Asian

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headquarters have been opened for postproduction work in India. What

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is the prospect of work there? From what I experienced, postproduction

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has expanded across the globe, because of the way it the into

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networks and the way information transfers so quick and powerful. ``

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the. You can be working on many different things simultaneously. So

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much of my post production work has been gone `` been going on in India,

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Korea. Given the nature of visual effects, incredibly elaborate and

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requires thousands of people sometimes, you have to spread that

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out across the world. What would it take for an Asian film to make it

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really big in Hollywood? There have been great cinema from Asia. Like

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Crouching Tiger, Hidden Dragon. The Asian influence is massive. It goes

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beyond martial arts films. What Kurosawa was able to achieve has had

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a profound influence on things like Lucas Films, Stephen Spielberg.

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Asian stock markets are mostly trading higher this Monday. News of

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promising economic darter and signs that China will step into support

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its cooling economy. `` data. That's it for now.

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This is BBC News. The headlines: There has

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