Browse content similar to 25/06/2014. Check below for episodes and series from the same categories and more!
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Now on BBC News, all the latest business news live from Singapore. | :00:00. | :00:17. | |
A top Chinese official arrives in Taipei, in another sign of warming | :00:18. | :00:22. | |
ties between the two sides. And, Indonesia is looking to curb smoking | :00:23. | :00:26. | |
through a new and graphic warning on cigarette packets. Welcome to Asia | :00:27. | :00:41. | |
Business Report. China's top official for relations with Taiwan | :00:42. | :00:45. | |
met in Taipei today for a series of meetings. They do not expect to get | :00:46. | :00:49. | |
major agreement on the trip but will meet with ordinary people to get a | :00:50. | :00:53. | |
better understanding about how they feel about the China and Taiwan | :00:54. | :00:59. | |
relationship. With all of this, will the soft approach help counter | :01:00. | :01:03. | |
political resistance to China? It depends, he comes on the heels of | :01:04. | :01:12. | |
major protests in Taiwan, from students who occupied Parliament. | :01:13. | :01:17. | |
There was that controversial trade deal that Taiwan signed with China. | :01:18. | :01:21. | |
On the looks of it, the trade agreement looks like it will | :01:22. | :01:26. | |
benefit. It allows greater access to China's services sector. In many | :01:27. | :01:30. | |
ways, Taiwan is public are suspicious of China's intentions. He | :01:31. | :01:37. | |
is facing more suspicion then years ago, when the two sides began | :01:38. | :01:42. | |
warming relations. The tactic this time is not to meet many politicians | :01:43. | :01:46. | |
or focus on signing agreements, but talk to ordinary people, including | :01:47. | :01:51. | |
farmers, villagers, and students and professors. And even visited daycare | :01:52. | :01:55. | |
and community centre. That is to get a sense of how the Taiwanese people | :01:56. | :01:59. | |
feel about the relationship with China and how to move forward. As | :02:00. | :02:03. | |
you say, he is meeting with ordinary people this time around, will that | :02:04. | :02:11. | |
help get rid of these suspicious feeling is meeting with ordinary | :02:12. | :02:13. | |
people this time around, will that help get rid of these suspicious | :02:14. | :02:15. | |
feelings that many Taiwanese people have towards the Chinese? It | :02:16. | :02:19. | |
depends, `` feelings. He is meeting with parents and children, creating | :02:20. | :02:25. | |
an image of a softer side of China, something that Beijing is trying to | :02:26. | :02:31. | |
create an impression of. It is not only unification, unifying with the | :02:32. | :02:34. | |
islander considers its problems. But to find out what the Taiwanese | :02:35. | :02:38. | |
people think and learn about Taiwan is democracy. It could help people | :02:39. | :02:44. | |
have a sense of what Beijing wants `` Taiwan's. What is the reaction so | :02:45. | :02:51. | |
far to this trip? What other newspapers are saying? It is all | :02:52. | :02:56. | |
over the newspapers. This is the front page of the China Times, the | :02:57. | :03:01. | |
headline says that he will get a true sense of how the Taiwanese | :03:02. | :03:05. | |
people feel. A positive response. On the other hand, another newspaper, | :03:06. | :03:10. | |
known to be more anti` China, they ran an interview with Hillary | :03:11. | :03:15. | |
Clinton, warning that if Taiwan becomes too economically independent | :03:16. | :03:20. | |
on China `` dependent on China, it could diminish political | :03:21. | :03:24. | |
independence. It also warns of China bringing restrictions on reporters | :03:25. | :03:28. | |
to Taiwan. It points out the many reporters covering the visit will | :03:29. | :03:31. | |
have to have a variety of press passes to get access to the various | :03:32. | :03:38. | |
venues. In other business News, China is reported to be setting up a | :03:39. | :03:42. | |
global financial institution to rival the World Bank and the Asian | :03:43. | :03:46. | |
development bank, according to the Financial Times, China believes both | :03:47. | :03:50. | |
lenders are too influenced by the USA and allies. Beijing is set to | :03:51. | :03:54. | |
raise $100 billion for its own lender which will be known as the | :03:55. | :03:57. | |
Asian infrastructure investment bank. The Japanese Prime Minister | :03:58. | :04:04. | |
Shinzo Abe has unveiled an ambitious package of reforms aimed at | :04:05. | :04:08. | |
revitalising the economy. That is part of his third arrow of | :04:09. | :04:12. | |
structural changes. Proposals include cutting corporate tax in | :04:13. | :04:15. | |
Japan, putting more women into the workforce, and restyling the country | :04:16. | :04:21. | |
is mothballed nuclear reactors. It isn't often that investors paid | :04:22. | :04:25. | |
attention to revisions of economic statistics, but when it comes to the | :04:26. | :04:29. | |
United States, the world 's largest economy, everybody sits up and takes | :04:30. | :04:33. | |
notice. Much of Asia is dependent on trade with the USA, and on | :04:34. | :04:37. | |
Wednesday, there will be plenty of people waiting to receive the third | :04:38. | :04:43. | |
and final reading of those third`quarter growth numbers. `` | :04:44. | :04:51. | |
those quarterly growth numbers. This man designs and manufactures | :04:52. | :04:54. | |
children's furniture. In this Brooklyn company, the start of the | :04:55. | :04:58. | |
year was bleak, orders didn't return after the usual drop after the | :04:59. | :05:06. | |
holidays. Usually, sales pickup in mid`January, but this year, it took | :05:07. | :05:13. | |
until April. The US economy shrank in the first three months of the | :05:14. | :05:18. | |
year, hurting businesses like this. It rose fears that the US recovery | :05:19. | :05:25. | |
was fading. Some say it is misleading to say that America is | :05:26. | :05:32. | |
close to recession. It was a surprising slowdown, but it reflects | :05:33. | :05:36. | |
that in the second half of last year, we saw a pickup in growth, | :05:37. | :05:44. | |
inevitably, it meant that he had some slowdown at the start of the | :05:45. | :05:48. | |
year. Even if the optimists are right, and America is bouncing back, | :05:49. | :05:52. | |
economists from the IMF to Wall Street had been forced to lower | :05:53. | :05:57. | |
their growth forecast for the year. For many Americans, the report will | :05:58. | :06:01. | |
feel like it has taken one step forward and two steps back. But, | :06:02. | :06:05. | |
there are signs that the world 's largest economy is making progress. | :06:06. | :06:10. | |
Not least because of the improvement in the US labour market. Still, it's | :06:11. | :06:14. | |
a reminder that the path to recovery does not always follow a straight | :06:15. | :06:20. | |
line. Staying with the Americas, Mexico is | :06:21. | :06:24. | |
not a country you tend to hear about in this part of the world, but Latin | :06:25. | :06:29. | |
America's second`largest economy is now Asian investors to help finance | :06:30. | :06:36. | |
major projects. Earlier, I spoke to the chief executive of Mexico's | :06:37. | :06:42. | |
biggest infrastructure bank, and I asked if there had been a lot of | :06:43. | :06:47. | |
interest. In the last three years, we have been coming to China, South | :06:48. | :06:52. | |
Korea, and also Japan, and this is the first time that we came to | :06:53. | :06:56. | |
Singapore, because we are about to sign an important memorandum of | :06:57. | :07:02. | |
understanding with a reliable company in Singapore. We know that | :07:03. | :07:07. | |
there has been a lot of concern about the Mexican economy in recent | :07:08. | :07:12. | |
years. We saw their currency dropping and investors pulling money | :07:13. | :07:16. | |
out. How tough is it to convince Asian investors to go and invest? It | :07:17. | :07:22. | |
depends on the planning horizon of investors. If you look at the | :07:23. | :07:25. | |
performance of the Mexican economy in the short term, and the potential | :07:26. | :07:32. | |
performance of the Mexican economy, we remain optimistic. We returned | :07:33. | :07:40. | |
business opportunities happening in the infrastructure field. That | :07:41. | :07:47. | |
infrastructure plan, they planned to invest $380 billion, in energy, | :07:48. | :07:52. | |
water, security, and in other applications, that have also come | :07:53. | :08:00. | |
into this part of the world. In Asia, you have frontier markets, | :08:01. | :08:04. | |
like Burma, Indochina, why should Asian investors go so far out of | :08:05. | :08:09. | |
their way to Mexico? It is all about risk and return, that profile. The | :08:10. | :08:15. | |
risk of investing in Mexico is low, and the return is significantly | :08:16. | :08:18. | |
higher than some other alternatives in the world. If you invest, you | :08:19. | :08:29. | |
take on the risk of a PPP project in sovereign nature. But, you have a | :08:30. | :08:37. | |
higher return on average. Any regulation aimed at stamping out | :08:38. | :08:43. | |
smoking comes to effect in Indonesia this week. Graphic health warnings | :08:44. | :08:46. | |
have been put on cigarette packets, but it appears the new laws have yet | :08:47. | :08:50. | |
to have an affect on demand the cigarettes. Our reporter found out | :08:51. | :08:56. | |
when we spoke to people on the streets of Jakarta. If you are a | :08:57. | :09:00. | |
smoker in Indonesia, you can light up just about anywhere. | :09:01. | :09:05. | |
You can smoke on the streets, in parks, and in public places. Even in | :09:06. | :09:11. | |
some government offices. In Indonesia, more than half the male | :09:12. | :09:16. | |
population smoke every day. In Indonesian government has tried a | :09:17. | :09:18. | |
lot to diffuse the number of smokers, but they haven't been | :09:19. | :09:24. | |
successful `` to reduce. This week, Indonesian cigarette makers had to | :09:25. | :09:27. | |
start warning smokers of how unhealthy the habit is. `` have. | :09:28. | :09:34. | |
Cigarette packets need to have graphic warnings that cover at least | :09:35. | :09:38. | |
40% of the package. There was little evidence of those images at stores | :09:39. | :09:43. | |
in Jakarta today. The smokers here had no idea about the new rules. | :09:44. | :09:49. | |
TRANSLATION: I don't make it will make a difference, so long as people | :09:50. | :09:53. | |
continue to sell single sticks of cigarettes, a majority of Indonesian | :09:54. | :09:57. | |
smokers are from poor backgrounds and they tend to buy the sticks, | :09:58. | :10:05. | |
rather than packs. I know a bit about the rule, but I don't think it | :10:06. | :10:08. | |
will have an impact, I am addicted. I would rather go hungry do not | :10:09. | :10:12. | |
smoke, if I don't smoke, I cannot think, so it will not make a | :10:13. | :10:16. | |
difference to me. Cigarettes are very cheap in Indonesia, because | :10:17. | :10:21. | |
tobacco taxes are so low, compared to other countries in South East | :10:22. | :10:26. | |
Asia. Activists say that Indonesia has to raise taxes on cigarettes, | :10:27. | :10:30. | |
but that is challenging, because the tobacco lobby is one of the most | :10:31. | :10:37. | |
powerful in the country. That is it that this edition of Asia | :10:38. | :10:41. | |
Business Report, you can follow us on Twitter. Sport Today is coming up | :10:42. | :10:43. | |
next. The top stories this hour. | :10:44. | :10:57. | |
The US has begun deploying the first of 300 military advisors to Iraq, to | :10:58. | :11:00. | |
help the government's fight against Sunni militants. Britain's phone | :11:01. | :11:03. | |
hacking trial has delivered its first verdicts ` and forced the | :11:04. | :11:05. | |
prime minister, David Cameron, to apologise. | :11:06. | :11:09. |