:00:53. > :00:58.now, the US Central Bank has insisted it will not raise interest
:00:59. > :01:03.rates until the end of its stimulus programme. With that due to expire
:01:04. > :01:11.next month, attention has shifted to when those rates might rise. Janet
:01:12. > :01:16.Yellen has insisted that the idea of considerable time should be linked
:01:17. > :01:21.to a specific `` should not be linked to a specific date. There is
:01:22. > :01:27.no mechanical interpretation of what the term considerable time means.
:01:28. > :01:31.And as I have said repeatedly, the decisions the committee makes about
:01:32. > :01:36.what is the appropriate time to begin to raise its target for the
:01:37. > :01:42.federal funds rate will be data dependent. What is the point of
:01:43. > :01:46.forward guidance is not linked to a specific date? The central bank says
:01:47. > :01:54.it needs the ability to adapt to a changing economy. Unemployment is
:01:55. > :01:58.falling but it needs the flexibility to adapt to changing economic
:01:59. > :02:03.conditions. And raising rates to quickly could choke off the economic
:02:04. > :02:08.recovery. Keep them too low for too long and the economy could spiral
:02:09. > :02:13.out of control. America has been awash with cheap cash through low
:02:14. > :02:19.interest rates and economic stimulus but those emergency measures cannot
:02:20. > :02:24.last indefinitely. Shares in Sony have fallen by as much as 12% in
:02:25. > :02:29.Tokyo today after it said it stood to lose more than $2 billion this
:02:30. > :02:34.financial year, more than four times its earlier forecast a few months
:02:35. > :02:41.ago. Sony is blaming a downturn in its mobile phone business. It has
:02:42. > :02:50.long promised a turnaround but will it ever deliver? Earlier, I ask if
:02:51. > :02:59.these troubles were really all link to smartphones. They have a balance
:03:00. > :03:03.sheet adjustment while they move out of this period in their business.
:03:04. > :03:08.Having said that, their forecasts have been lowered. Their positioning
:03:09. > :03:20.is very muddled. They are not at the top end. They are not at the low end
:03:21. > :03:25.either. They are not the first choice of the top end customer or
:03:26. > :03:35.the first choice of the mass`market customer. This market is only going
:03:36. > :03:39.to get tougher, isn't it? Yes. Apple will have new products, Samsung will
:03:40. > :03:45.react and then there will be lots of Chinese brands on the market. I
:03:46. > :03:49.don't see that changing. I don't see anything which is going to make them
:03:50. > :03:54.a product category leader. I don't see anything that will distinguish
:03:55. > :03:58.it from other products. And they don't even have a global strategy
:03:59. > :04:04.when you look at what they have done so far. They will continue to model
:04:05. > :04:11.and that begs the question if they should be in this isn't at all.
:04:12. > :04:18.Japanese exports fell by 1.3% compared to last year. Shipments to
:04:19. > :04:21.the US declined in August, adding to concerns that the Japanese economy
:04:22. > :04:25.might not be able to rely on a pickup in trade to help it recover
:04:26. > :04:30.from an April tax hikes. News Corporation has demanded the
:04:31. > :04:34.European Commission take a tougher approach to Google. It says the
:04:35. > :04:39.search engine has become a platform for piracy and its powers are
:04:40. > :04:44.increasing every day. Google says it tackles piracy rigourously. And eBay
:04:45. > :04:50.has been compromised. Users who clicked on some links have been
:04:51. > :04:56.diverted to a website designed to steal their credentials. It looks
:04:57. > :05:03.like the eBay welcome page. Authorities only removed the suspect
:05:04. > :05:06.listing after a follow`up phone call from the BBC more than 12 hours
:05:07. > :05:13.after the initial alert. Xi Jinping is on his first visit to India, the
:05:14. > :05:18.first visit by a Chinese leader to India since 2006. There are high
:05:19. > :05:26.hopes this trip will lead to improved business ties. Earlier, I
:05:27. > :05:32.spoke with an Indian national who has a long history of doing business
:05:33. > :05:38.in China. The growth rate of India and China have been the fastest
:05:39. > :05:42.globally. China has run a large trade surplus over the last four
:05:43. > :05:48.years. India can provide chemicals and iron ore. China exports
:05:49. > :05:54.Manufacturing goods and electronic components. It is an unbalanced
:05:55. > :05:57.trade from that perspective. What we expect to see is that the trade
:05:58. > :06:02.deficit will continue but Chinese investment in India will rebalance
:06:03. > :06:08.and that is where we see the big change coming. Will that allow India
:06:09. > :06:14.to move up the value chain in terms of what it makes and therefore what
:06:15. > :06:18.it sells back to China? The Chinese are very good at infrastructure and
:06:19. > :06:23.India desperately needs infrastructure. China has an export
:06:24. > :06:30.manufacturing sector. The supply chain extends across Asia. India
:06:31. > :06:34.needs to join that supply chain. The Chinese export manufacturing and the
:06:35. > :06:39.Indians support `` export manufacturing and those two will
:06:40. > :06:42.come together. Relations seem warm at the moment but we know that there
:06:43. > :06:46.are ongoing border disputes between these two countries. The politics
:06:47. > :06:52.does sometimes interfere with the business. China is a large country
:06:53. > :06:56.and it has challenges with many of its neighbours on a political
:06:57. > :07:02.front. That will not stop it with growing commercial relationships
:07:03. > :07:07.with all of its neighbours. And India has to learn that and see this
:07:08. > :07:11.relationship on the commercial side differently to the relationship on
:07:12. > :07:14.the political side. The political side always takes longer to change
:07:15. > :07:18.than the commercial side but we can clearly see the benefit of the over
:07:19. > :07:26.100 Chinese companies in India and the over 100 Indian companies in
:07:27. > :07:32.China. One of the world 's biggest stock offerings is about to take in
:07:33. > :07:35.New York. Alibaba is expected to complete its sale of shares to big
:07:36. > :07:40.investors on Thursday before trading opens to the general public on
:07:41. > :07:48.Friday. What reception can the company expect from investors? The
:07:49. > :07:51.big apple, America's financial centre. New Yorkers have a
:07:52. > :07:57.reputation as a tough crowd to please, especially when it comes to
:07:58. > :08:01.investments. That is what the massive Chinese company Alibaba will
:08:02. > :08:06.soon discover when its shares begin trading at the New York stock
:08:07. > :08:11.exchange. This will be one of the biggest events I have witnessed.
:08:12. > :08:16.Inside this emblem of capitalism, Alibaba is about to have what could
:08:17. > :08:22.be the biggest stock offering on the planet. Bigger than Facebook and
:08:23. > :08:29.bigger than the Agricultural Bank of China. Such is the anticipation...
:08:30. > :08:34.I'm very active on Chinese social media. I have had people chatting
:08:35. > :08:39.with me and asking me if I can connect them with the IPO team
:08:40. > :08:45.because they want to buy up to 2 million shares. Why all the hype?
:08:46. > :08:51.Internet analyst Max Wolff explained. This company is literally
:08:52. > :08:56.poised to take advantage of the largest emerging middle class in the
:08:57. > :09:01.world, China, and the largest consumer class emergence in the
:09:02. > :09:05.history of the world, China. Alibaba's success as an online
:09:06. > :09:09.marketplace has already made it a force on the Chinese internet and it
:09:10. > :09:15.has helped turn its founder from a teacher into one of China's urges
:09:16. > :09:19.men. Investors are being asked to put their trust in him, but should
:09:20. > :09:23.they? After all, this Chinese company comes with unusual risks
:09:24. > :09:29.including a unique ownership structure, which gives the owner
:09:30. > :09:35.most of the control. And an OPEC political system that for now has
:09:36. > :09:45.supported Alibaba's success. `` opaque. There is no shortage of
:09:46. > :09:53.investors clamouring to bet on Alibaba. And all eyes will be on
:09:54. > :09:54.that float on Friday. Before we go, we can see that Asian markets are
:09:55. > :10:07.higher. That is it for this edition of Asia
:10:08. > :10:15.Business Report. Thank you for watching.
:10:16. > :10:20.The top stories this hour: With hours to go before polls open, both
:10:21. > :10:23.sides in the Scottish referendum campaign have held rallies as they
:10:24. > :10:29.made their final efforts to win over undecided voters.
:10:30. > :10:30.President Obama says American forces won't have a combat