10/11/2015

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:00:00. > :00:14.Now on BBC News all the latest business news live from Singapore.

:00:15. > :00:22.Deep concern over China's slowing economy leads to another cut in the

:00:23. > :00:27.forecast for global growth. And on the go, the Greenway. Will

:00:28. > :00:38.environmentally friendly scooters catch on in Taiwan -- green way?

:00:39. > :00:42.Good morning. Glad you could join us for this Tuesday edition of Asia

:00:43. > :00:49.Business Report. Concerns about the state of the global economy show no

:00:50. > :00:52.signs of coming down. The organisation for economic

:00:53. > :01:00.corporation and development, also known as the OECD, has cut its

:01:01. > :01:03.global forecast down from 3%. It describes the slowdown in global

:01:04. > :01:10.trade is deeply concerning and the worries have been fuelled by Musa

:01:11. > :01:13.Vadeweghe and which shows China's growth has fallen for a record third

:01:14. > :01:19.Quarter. We will get more information including the consumer

:01:20. > :01:29.price index which is the main measure of consumer crisis. The PPI

:01:30. > :01:38.has fallen for more than four months is -- straight. I spoke to an

:01:39. > :01:42.investor in Hong Kong and asked whether these figures would change

:01:43. > :01:47.going forward? China is still a major exporter and if the rest of

:01:48. > :01:52.the global economy has slowed down, that is going to impact them. The

:01:53. > :01:59.PPI number today will be important to see whether the factory prices

:02:00. > :02:03.are still seeing deflation, because that will put more pressure on the

:02:04. > :02:07.global economy if prices continued to fall. The real hope here is that

:02:08. > :02:13.we see some stable as they should in that number and that we see a little

:02:14. > :02:19.bit of inflation coming back in, or at least inflation stays around at

:02:20. > :02:23.1.5 level. What about the stimulus measures and the six interest rate

:02:24. > :02:28.cuts over the past year? When will this have a substantial impact on

:02:29. > :02:33.the Chinese economy? To a degree, it probably already has. Certainly we

:02:34. > :02:38.have seen a pickup in the property sector in China, which is a big

:02:39. > :02:43.driver for them because if they continue to or start to rebuild at

:02:44. > :02:46.the same level they were, and we see people starting to buy apartment

:02:47. > :02:50.again in the same sort of quantities, those people are going

:02:51. > :02:54.to create domestic demand. Wanting to purchase sofas and televisions

:02:55. > :02:58.and fridges to fill those apartments. And it means China's

:02:59. > :03:03.consumption of resources from overseas will also increase. What

:03:04. > :03:10.about recovery in the property sector leading to another problem in

:03:11. > :03:15.the real estate sector, which also caused this economy to slow down?

:03:16. > :03:19.There is always the risk. But the government in Beijing has been very

:03:20. > :03:24.careful and continues to be very careful about how to apply

:03:25. > :03:28.stimulus. The Lehman Brothers stepped in and build a more roads

:03:29. > :03:34.and bridges and that helped in the short term, but they need long-term

:03:35. > :03:37.relief. What they are more concerned about now is making sure the steps

:03:38. > :03:44.they take will create a good foundation for steady growth moving

:03:45. > :03:52.forward. We just have the latest numbers from China. Particularly the

:03:53. > :04:06.consumer price index. Inflation is now at 1.3% and that is slower than

:04:07. > :04:09.expected. It -- the production price index was also lower than expected

:04:10. > :04:18.and this is having an impact on the regional markets. The Nikkei is down

:04:19. > :04:27.by .7% and the index in Sydney games back 1%. On Wall Street, the down

:04:28. > :04:30.Jones and the NASDAQ -- Dow Jones, are also quaking under these jittery

:04:31. > :04:34.reports and there are new rules to stop banks from becoming too big to

:04:35. > :04:38.fail. This is a direct response to the 2008 financial crisis when

:04:39. > :04:43.taxpayers had to a load collapsing banks. We will explain what is

:04:44. > :04:49.behind the rules and why some bankers are worried. Regulators are

:04:50. > :04:52.basically saying that by making these banks raise a whole lot of

:04:53. > :04:56.capital to always have on hand, there would basically be a buffer so

:04:57. > :05:00.that if they fail, it will create mayhem and send the shockwaves we

:05:01. > :05:05.saw in 2008 through the global system. A real plan to wind them

:05:06. > :05:09.down. They're hoping this could be enforced by 2022 although if you

:05:10. > :05:14.look at China and the emerging markets, they have been given later

:05:15. > :05:19.until 2028. There is already a lot of talk about additional rules that

:05:20. > :05:23.are still needed to limit risky behaviour. Possibly rules on banker

:05:24. > :05:27.bonuses. Because misconduct like trying to break the interest rates

:05:28. > :05:33.or currency markets, that still does put the entire system at risk.

:05:34. > :05:38.India's old and over crowded railways are about to get a major

:05:39. > :05:44.overhaul. General Electric has won a $2.6 billion contract to build 1000

:05:45. > :05:47.new diesel trains for the Indian government. As part of the deal,

:05:48. > :06:01.they will invest in new lands and warehouses in India. The owner of

:06:02. > :06:04.India's budget carrier, IndiGo is listing it on the stock exchange. It

:06:05. > :06:09.is their biggest listing in three years. The airline has benefited

:06:10. > :06:17.from the country's air travel boom. Staying with India, shops there are

:06:18. > :06:19.starting to receive their first deliveries of maggi noodles after

:06:20. > :06:25.the products were withdrawn from a health scare. The brand contain

:06:26. > :06:31.dangerously high levels of lead which is something the manufacturer

:06:32. > :06:39.strongly denies. But they have now been found to be safe. We spoke to

:06:40. > :06:43.Nestle India's managing director. It has definitely had an impact in

:06:44. > :06:49.terms of the overall financial results and the performance of the

:06:50. > :06:56.company. But for me, what is even more telling is the impact it has

:06:57. > :07:08.had on a lot of other Indians who were eking out there living. The

:07:09. > :07:11.human impact of the company and its system has been possibly much larger

:07:12. > :07:19.than the impact on the books of the company. For me, that is the most

:07:20. > :07:22.painful part of this journey. But why do you think the results of your

:07:23. > :07:28.tests were so different from the government test results and do you

:07:29. > :07:32.think you have been treated unfairly? I don't like to use the

:07:33. > :07:39.term unfair, but what has really happened, and what is been our point

:07:40. > :07:44.of view, was the fact that the analysis, and lead was an example,

:07:45. > :07:49.was being done in laboratories that had not been accredited, which means

:07:50. > :07:56.that they don't have three things. They don't have the infrastructure

:07:57. > :07:59.or they don't have the protocol for testing, or they don't have

:08:00. > :08:04.qualified people who carry out the tests. As a consequence, you could

:08:05. > :08:13.end up with results that were highly unreliable. Many people in Asia rely

:08:14. > :08:19.on scooters to get around. Cheaper than a car, handy in heavy traffic.

:08:20. > :08:25.They are a popular form of transport and one place where the streets are

:08:26. > :08:27.filled with them is Taiwan. It is now trying to encourage more

:08:28. > :08:37.environmentally friendly machines. Now we go to our correspondent. Rush

:08:38. > :08:40.hour in Taiwan. The land of the scooter. It has more motorbikes per

:08:41. > :08:47.capita than anywhere else in the world. Taiwan is a small island but

:08:48. > :08:52.it accounts for nearly 1% of global greenhouse gas emissions. And

:08:53. > :08:55.pollution from scooters as a part of that. This year the government

:08:56. > :08:59.increased subsidies to encourage the millions of people who drive

:09:00. > :09:05.gasoline powered scooters to switch to electric scooters. Gas scooters

:09:06. > :09:11.are generally cheaper, faster and more convenient and gas stations are

:09:12. > :09:19.everywhere. Most electric scooters require owners to charge the

:09:20. > :09:21.battery. But not this one. Riders simply swap used batteries for fully

:09:22. > :09:30.charged once at kiosks like this one. TRANSLATION: I have long wanted

:09:31. > :09:34.a electric scooter but they were too slow and require charging. I live on

:09:35. > :09:42.a second-floor, I can do that. But this one is as powerful as a gas

:09:43. > :09:47.scooter. Still, the company has only sold about 1700 scooters to date. So

:09:48. > :09:51.it recently cut its prices, making them cheaper than gas motorbikes. I

:09:52. > :09:56.can only imagine what it will be like ten years from now if we do a

:09:57. > :10:01.great job, how our lives can be a lot better and cities could be a lot

:10:02. > :10:03.cleaner. And in Taiwan, there is clear government support.

:10:04. > :10:08.TRANSLATION: It is hard to change people's habits but by offering

:10:09. > :10:16.subsidies and making better electric scooters, we hope more people will

:10:17. > :10:21.purchase them. As for Gogoro, it is working hard to boost sales with

:10:22. > :10:25.some slick marketing. If the company and Taiwan succeed, it could inspire

:10:26. > :10:35.other countries in the region to follow suit. And before we go, let's

:10:36. > :10:43.recap China's latest economic reports. More disappointing data,

:10:44. > :10:50.especially for the PPI. Down 5.9% which is worse than expected. You

:10:51. > :10:56.also have the CPI which came in at 1.3%. This is currently impacting

:10:57. > :10:57.regional markets at this hour. Thank you for investing your time with

:10:58. > :11:05.us. Goodbye for now. The World Anti-Doping Authority

:11:06. > :11:10.calls for Russian athletes to be suspended from international

:11:11. > :11:12.competition over doping accusations.