09/06/2014 Asia Business Report

Trust. Those are the latest headlines. Now

on BBC News all the latest business news live from Singapore.

China's imports unexpectedly fall, we ask what the government has to do

to encourage growth. Please, please! Come on! The whole cage is shaking.

Our correspondent drops into a virtual shark tank to give you a

sneak peek at the latest in gaming technology.

Welcome to Asia Business Report. The latest trade numbers from China have

increased the pressure on the government to do more to support

growth. Exports rose in May, but imports fell down 1.6% from one year

earlier. Indicating weak domestic demand in the world 's

second`largest economy. The Barclays chief China economy `` economist

told me that the surplus was disappointing and another sign that

the government has to act. We have been calling a couple of weeks ago

for more significant monetary easing. In past weeks, we have seen

the State Council has announced further targeted easing measures in

terms of cutting reserve requirements for banks. Selectively.

And in expanding the lending to small enterprises. Last Friday, we

had bank regulators announcing that they would change alone to `` law to

deposit regulations. That being said, the government need further

monetary easing, especially the Premier looks keen to achieve the

7.5 gross target for this year. Would you say that if there is not a

rate cut, that target is RSS? Yes, even though the first quarter rose

within 4%, it could drag down a property investment and overall

investment activities `` risk. There are further downside risks this

year. More policy easing and possibly in the form of interest

rate cuts to lower the financing cuts for the economy is necessary.

Revised data from Japan shows the world 's third`largest economy grew

1.6% in the first quarter of 2013. Ahead of an increase in sales tax,

it is the strongest expansion in more than two years and slightly

faster than economists forecasted. China's Foreign Minister is in India

for talks on trade and boosting economic cooperation. He has made

his Indian counterpart for the first high`level meeting between the

countries since the prime minister became India's new leader `` met.

India runs a $14 billion trade deficit with China. Narendra Modi is

expected to renew his country 's demands for greater market access

and to reduce that gap when he meets the Foreign Minister today. India's

government will deliver their first budget in the next few weeks, one of

the key priorities will be infrastructure. India has struggled

in the past to get big projects off the ground, that has cost jobs,

investment and economic growth. We look at why they are stuck and what

can be done. If things had gone according to

plan, this would now be a bustling construction site. It is the land

where mum buys new airport is supposed to be built. Authorities

have been unable to start work ``Mumbai's. They don't have all the

land they need for the project. A small part of the area is owned by

villagers. They are not willing to sell it. I would demand from the

beginning has been compensation, which is critical to secure our

future. What the authorities are offering us now is lower than that.

The acquisition is one of the reasons why many projects have been

delayed. Across India, hundreds of infrastructure projects have made no

progress, because developers have failed to cut through red tape. Most

of the pending ones are related to road building or infrastructure for

energy, like power stations, minds, and oil and gas projects. As well as

getting hold of the land in need, environment and forest clearance has

been another major hurdle ``mines. The new government is under pressure

to get these infrastructure projects off the ground as quickly as

possible. That said, kickstarting projects alone would be enough. They

also need completely new plans. You need a growth rate of six or seven,

not even going up to nine. That was the trajectory we initially planned.

There are these new projects that we need to get started in the system.

It is important that we had to plan for the new building. Without that,

we will be unable to achieve the kind of growth that we are looking

for. For that to happen, the government has to first address the

concerns of villages like these. Without the support of locals, and

friendly policies for investors, they will find it difficult to

achieve their target of building new infrastructure worth $1 trillion in

the next three years. Infrastructure is a big issue for all levels of

government, with local authorities across the globe often struggling to

manage scarce resources in the face of rapidly growing your own urban

populations. `` rapidly growing urban

populations. We heard that the neck `` the best way to meet the

challenge is by creating more businesses. You have to adapt the

city to the consumption, you could have a city with 1 million, 2

million, half a million, knowing more or less what they need in terms

of resources for the consumption. Then look at the business, make the

business plan, and so, OK, I have 5 million, half the consumption

needs... I would need this much water, wood, energy, this kind of

food. Do I have that in house? Do I have them in my business? Do I have

them in my ecosystem? Should they be imported? With the world 's major is

`` the world resources effectively run at moment? In some, yes, but

mostly no. They cannot do it alone. The mayor can manage the city, but

the city is complex. When you have the business sector and consumer

associations, you had to bring them together. Seared together and work.

And use trade`offs, but people do not like that. `` see it. How likely

are governments to factor in the cost of pollution and climate change

into their plans? If you look at negotiations, they are so sensitive

today, that they are unable to find a way out. At the end of the day,

the way out is to try to see how we can contribute to climate

mitigation. We have the challenge now to make sure that are changing

our consumption, and then we can really make things happen. But, we

are not asking people not to consume, but tell them to consume

differently. Sony has overtaken Nintendo for the first time in eight

years, selling close to 90 million game consoles in the last financial

year compared to its rivals, just over 16 million. There is another

technology being developed by Sony, a prototype virtual reality

headset. We sent our correspondent to the industry 's largest trade

fair in Los Angeles. We dropped him into a virtual shark tank to have a

look at how the technology is shaping up. It is nerve wracking. I

have been told to expect a shark attack. I am inside of this noise

robust cage. They look friendly enough! O! Please! Please! Come on!

The whole cage is shaking `` Oh! It really isn't safe here! You are

fully immersed in this experience. You are in a diving catch, not

looking it `` not looking at it on a string, you are experiencing it. We

want to get an emotional response from people, when you are in there,

you are face to face with the shark attacking your page. We pretty much

have emotional response from everyone. I can look down and see my

feet. My knees are bending, that is incredibly weird. `` pretty much

have that emotional response. I have 360 degrees vision, it is very

immersive. Literally underwater. I feel like I should wear a wetsuit.

Will this be mainstream in the gaming industry? Will it be an

amusing sideshow? I think first stars are aligned for virtual

reality now, we have the technology to make it fast enough so there is

no latency. `` I think the stars. Those baselevel things are achieved

and it is about creating experiences. I don't think he has

good intentions! Oh no! That is dangerous! It is exciting, to get

our hands dirty. It is new ground. We are all about creating compelling

experiences and this is a good opportunity to do that. How can I

get out of here? I think I may have died! You can check out all of that

on the website. Go to the E3 Page on the website. Let's have a look at

the Asian markets now. If you have a look around the region...

That is it for this edition of Asia Business Report. Thank you for

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