:00:00. > :00:07.in charge of children's services in the town of Rotherham at the time
:00:08. > :00:15.several counts of child abuse took place has resigned.
:00:16. > :00:22.China's president heads to India. Could Xi Jinping's visit me and that
:00:23. > :00:32.they could be Quapaw rating with the Asian giants. And, we have a look at
:00:33. > :00:40.the workings behind e`commerce giant Alibaba. Welcome to Asia Business
:00:41. > :00:44.Report. India is preparing to welcome China's president Xi Jinping
:00:45. > :00:51.today. The symbolic three`day visit is seen as a chance for India to
:00:52. > :00:52.push for improved economic ties with the mainland. Two way trade between
:00:53. > :00:58.the Asian economic giants is already the Asian economic giants is already
:00:59. > :01:04.worked tens of millions of dollars, but it has been held back by
:01:05. > :01:07.politics, and the relationship is far from equal.
:01:08. > :01:11.When it comes to the economy, India longs to be like China, but is years
:01:12. > :01:18.behind when it comes to investing in roads, and railway lines. Now, China
:01:19. > :01:21.will step in and help. The Chinese Premier is expected to offer money
:01:22. > :01:30.for specific infrastructure projects, like a new industrial
:01:31. > :01:34.parts or bullet trains. He has recently returned from Tokyo with
:01:35. > :01:40.pledges of billions of dollars in investment, and many are expecting
:01:41. > :01:44.Beijing to better that figure. China is already one of India's biggest
:01:45. > :01:49.trading partners. Two way trade stands close to $70 billion. But
:01:50. > :01:52.this is not an equal relationship. For every dollar of Indian goods
:01:53. > :01:57.sold to China, India imports more than $3 work. To start rectifying
:01:58. > :02:02.the imbalance, India needs to make more things that China wants to buy,
:02:03. > :02:08.but there needs to be some willing as well. Indian success stories have
:02:09. > :02:15.had a tough time entering the Chinese market. China has blocked
:02:16. > :02:20.market access for Indian goods like pharmaceuticals and meat. On the
:02:21. > :02:26.flipside, India remains suspicious of Chinese Telecom indications
:02:27. > :02:29.companies. And, Delhi has been restricting visas for Chinese
:02:30. > :02:33.labour, especially on large projects like roads and airports. Eliminating
:02:34. > :02:37.some of these boundaries is bound to be a talking point over the next few
:02:38. > :02:41.days, but you can guarantee that any concessions will be political and
:02:42. > :02:47.economic, and they will meet the needs of two of the world's most
:02:48. > :02:52.populous nations. Moving to other business news making headlines. The
:02:53. > :02:57.Chinese footwear maker says its chief executive and CEO have
:02:58. > :03:05.disappeared along with most of the company's Cas. `` cash. At the same
:03:06. > :03:10.time, they said its cash reserves in China and Hong Kong had been
:03:11. > :03:19.transferred out of its shares of the company, after a 70% loss. One of
:03:20. > :03:28.the services offered by an alternative taxi company has been
:03:29. > :03:38.ruled on. It has been banned from operating its service across
:03:39. > :03:42.Germany. The charismatic executive chairman of Alibaba is due to sell
:03:43. > :03:47.his shares in New York later this week. The CEO is a household name at
:03:48. > :03:55.home in China, but what about outside? We take a closer look at
:03:56. > :04:00.the man behind what is meant to be the world's largest stock market
:04:01. > :04:04.listing. This is a Hong Kong neighbourhood, an area famous for
:04:05. > :04:10.high`end shopping. In the building behind me stands one of the main
:04:11. > :04:14.offices of internet giant Alibaba it is a company that in just 15 years
:04:15. > :04:21.has grown from a barebones start`up to a name synonymous with internet
:04:22. > :04:33.retail in China. It was founded by an English teacher, a man who picked
:04:34. > :04:38.up the language in eastern China, by giving free tours to tourists. He
:04:39. > :04:43.dreams of his own business. Following several false starts, he
:04:44. > :04:54.gathered about a dozen friends in his flat in 1999 to fund Alibaba.
:04:55. > :05:03.Ali Baba focused on connecting factory owners in China with
:05:04. > :05:09.suppliers abroad. One of the early Hires was a young American, who
:05:10. > :05:14.first met Jack Ma at a sales event. He was a bit distracted and it was a
:05:15. > :05:20.bit of an unpolished performance, but for me it was like seeing a rock
:05:21. > :05:27.star in the early days, who was trying to build a revolution. The
:05:28. > :05:31.revolution came in 2003. Sensing composition from internet auctioneer
:05:32. > :05:36.eBay, Jack Ma decided to enter the world of online retail shopping. The
:05:37. > :05:43.company did so well, but three years later eBay decided to close its
:05:44. > :05:48.business in China. Now, the confident technology Typhoons heads
:05:49. > :05:52.a company that handles more merchandise and hammers on and eBay
:05:53. > :05:58.combine. He may be trained as an English teacher but he could run a
:05:59. > :06:02.masterclass in online shopping. There is hope that other Asian
:06:03. > :06:07.companies will be taking inspiration from Ali Baba and Jack Ma and will
:06:08. > :06:16.look to create their own unique product. What I love about this IPO
:06:17. > :06:21.is it has put two things on the map. The internet, which is great for us.
:06:22. > :06:26.And it has put Asia on the map. People are realising that Asia can
:06:27. > :06:31.create phenomenally large internet companies. There is probably
:06:32. > :06:34.something like ten internet companies in South East Asia that a
:06:35. > :06:40.publicly listed, four of those we have found it. None of those have
:06:41. > :06:43.reached $1 billion yet. I prediction is that we will see the first US
:06:44. > :06:52.billion`dollar company in the next few months. With the listing of
:06:53. > :06:55.Alibaba, Jack Ma will have deep pockets of 25 billion US dollars.
:06:56. > :07:00.How do you think he will capitalise? Will he look at the south`east Asian
:07:01. > :07:03.market and other Asian markets was yellow he is an incredible guy, we
:07:04. > :07:08.have known him for fit the news. I think he will go everywhere. His
:07:09. > :07:11.ambition and drive unparalleled. He wants to be the biggest IPO in the
:07:12. > :07:15.world, trying to raise more cash than anyone else. It is a profitable
:07:16. > :07:20.business, this 20 billion they are raising is not to fund his business,
:07:21. > :07:23.it is to go global. I think yes, they will look at America and
:07:24. > :07:35.Europe, and definitely South East Asia. Like you said, you invest in
:07:36. > :07:37.various sites. You think that Asian companies can compete with the likes
:07:38. > :07:46.of the big Silicon Valley companies? Yes. I think at the end
:07:47. > :07:51.of the day, if you are building a great e`commerce site in, let's say
:07:52. > :07:54.Indonesia for example. You need to be on the ground, face`to`face,
:07:55. > :08:04.involved in warehousing and delivery. Local entrepreneurs need
:08:05. > :08:09.to be involved. There are millions of risks, let's say in e`commerce,
:08:10. > :08:12.getting orders wrong. Getting delivery wrong, getting delivery
:08:13. > :08:20.time is wrong, but colour and size. There is a whole multitude of things
:08:21. > :08:24.that can go wrong. Meanwhile, the world's ultrarich are
:08:25. > :08:31.getting richer, and there are more of them according to a new survey.
:08:32. > :08:39.The US, Germany China have the most of the richest. `` Germany and
:08:40. > :08:45.China. We find that wealth is created in waves. Many times, says
:08:46. > :08:49.waves are in infrastructure national resources, in technology and other
:08:50. > :08:53.businesses. We are seeing the next wave of wealth creation happening,
:08:54. > :08:57.and there are certain individuals who will capture that and build huge
:08:58. > :09:07.fortunes. What about geopolitical tensions? You have also outside of
:09:08. > :09:11.the region. Can this also impact wealth and reduce the number of
:09:12. > :09:13.billionaires in the region? Actually, I think it is going in the
:09:14. > :09:21.other direction. It is the entourage. Entrepreneurs find
:09:22. > :09:25.opportunities in capitalise on them. The fact that there is so much of a
:09:26. > :09:30.growing consumer class, whether it is in China or the Philippines, it
:09:31. > :09:35.is those same people who are becoming entrepreneurs and building
:09:36. > :09:42.on that. The rich are getting richer and the poor are getting poorer. The
:09:43. > :09:50.rich are getting richer, I will say that. Can a working man like you and
:09:51. > :09:55.me billionaire? The answer is yes. Where they got involved in
:09:56. > :10:00.technology or anything, they started early, they work hard into their
:10:01. > :10:06.50s, still working extremely hard. And they are getting diversified.
:10:07. > :10:09.They are buying their way into other companies, and most have done a very
:10:10. > :10:13.good job at buying assets at the right time and the right place. Here
:10:14. > :10:17.is a quick look at the markets. right time and the right place. Here
:10:18. > :10:22.is a quick Most Asian shares are creeping higher. There was
:10:23. > :10:29.speculation that the Fed would maintain low rates, and their
:10:30. > :10:30.two`day policy meeting ends today. Thank you for investing your time
:10:31. > :10:44.with us. Our top stories: President Obama has
:10:45. > :10:47.warned the Ebola outbreak in West Africa poses a global threat that
:10:48. > :10:49.could affect hundreds of thousands if not