Browse content similar to 06/06/2016. 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. | :00:12. | |
The world was in a two biggest economies need for an economic | :00:13. | :00:19. | |
dialogue and tensions are high are the trade practices. -- world's. And | :00:20. | :00:25. | |
drones are so popular they now have our own festival. We have a report | :00:26. | :00:31. | |
from San Francisco. Good morning Asia. Hello, world. And welcome to | :00:32. | :00:33. | |
Asia Business Report. Thank you for investing your time with us. It is | :00:34. | :00:41. | |
considered one of the most senior bilateral talks between the US and | :00:42. | :00:47. | |
China. John Kerry is in Beijing along with the secretary in China | :00:48. | :00:54. | |
for a dialogue between the two biggest countries in the world. This | :00:55. | :00:58. | |
is their last meeting under the Barack Obama administrations. They | :00:59. | :01:03. | |
have previously covered trade and currencies and other topics. I spoke | :01:04. | :01:10. | |
with a German of exports. -- chairman. He used to take part in | :01:11. | :01:16. | |
these in the Bush Administration. You have a fair amount of | :01:17. | :01:22. | |
continuity. There are a huge amount of concerns in China and the US | :01:23. | :01:25. | |
about overcapacity. Production issues. Steel and other heavy | :01:26. | :01:32. | |
industries with global impacts. The Chinese know they have to dial down | :01:33. | :01:34. | |
that production to help reform in their country. We have the currency | :01:35. | :01:40. | |
as well. For many years it has been a concern. This time, China has not | :01:41. | :01:45. | |
been labelled a currency manipulator. The issue is still | :01:46. | :01:50. | |
there. It is probably not as front and centre as other issues on the | :01:51. | :01:53. | |
economic side. The political season means it will get more news coverage | :01:54. | :02:00. | |
in the US than otherwise. What is interesting is tensions over the | :02:01. | :02:03. | |
South China Sea. There are many sources that they want to get a hold | :02:04. | :02:13. | |
of so be -- resources. I heard someone tell me that China would not | :02:14. | :02:16. | |
abide by an international court ruling. That was brought in the | :02:17. | :02:21. | |
Philippines against it. They have been adamantly resistant in falling | :02:22. | :02:29. | |
into line in the South China Sea. China has no appetite to compromise | :02:30. | :02:33. | |
or work out these disputed territory issues with its neighbours. It is in | :02:34. | :02:37. | |
a moment of resolve and will continue to build on that. My view | :02:38. | :02:41. | |
is they will be downward pressure on the relationship. Governing this is | :02:42. | :02:47. | |
what both parties want to keep, they want a positive relationship. But | :02:48. | :02:52. | |
there will be downward pressure in the discussions in the next three | :02:53. | :02:56. | |
days. It is Obama's last, but it will be the first for whoever is the | :02:57. | :03:04. | |
new president next year. How will relationships change. Hillary | :03:05. | :03:09. | |
Clinton will focus on geopolitical issues. She is also... She has | :03:10. | :03:18. | |
personal experience with China and working on those issues. Donald | :03:19. | :03:23. | |
Trump will see less tension on the South China Sea but more issues on | :03:24. | :03:25. | |
the currency issues and overproduction. Speaking to me | :03:26. | :03:31. | |
earlier. Swiss voters have rejected a proposal to introduce a guaranteed | :03:32. | :03:35. | |
basic income for all. Final results show that nearly 77% opposed it with | :03:36. | :03:43. | |
only 23 backing it. They were calling for adults to be paid a | :03:44. | :03:46. | |
monthly income regardless of whether they were working or not. It would | :03:47. | :03:54. | |
be about 2500 US dollars per adult. It is the first country to hold such | :03:55. | :03:58. | |
a vote. The soft bars of a drone flying overhead is becoming a more | :03:59. | :04:04. | |
common sound across the world as the technology becomes cheaper and more | :04:05. | :04:09. | |
affordable. -- buzz. And more amateurs are becoming enthusiastic | :04:10. | :04:12. | |
about experimenting with these drone. But not everyone welcomes | :04:13. | :04:18. | |
these. They are waiting nervously for new regulations that could have | :04:19. | :04:22. | |
a big impact on the technology's future. We have more from San | :04:23. | :04:26. | |
Francisco. It must surely be the most beautiful spot in the most | :04:27. | :04:35. | |
beautiful city. The San Francisco Palace of Fine Arts was built in | :04:36. | :04:40. | |
1915. It was a chance to show the latest of innovations. It was at | :04:41. | :04:44. | |
this event that a phone call was made and Alexander Graham bell made | :04:45. | :04:49. | |
a call from here to here is assistant in New York. -- Bell. -- | :04:50. | :04:54. | |
to New York. It is an industry which is growing massively. In 2013, sales | :04:55. | :05:01. | |
of drones were worth over $250 million worldwide, but they had | :05:02. | :05:07. | |
risen in 2015 to $1.6 billion. What could happen in 2016? All eyes are | :05:08. | :05:13. | |
on the US government. They will announce regulations later this | :05:14. | :05:16. | |
month and could open up new and legal ways to use them, especially | :05:17. | :05:20. | |
in business cases. At the end of this month we will see a commercial | :05:21. | :05:24. | |
roll-out which will allow free use of US technology for commercial | :05:25. | :05:29. | |
purposes. There will be limits, but it is a first step in turning this | :05:30. | :05:33. | |
incredible technology into a viable tool the industry. You can see the | :05:34. | :05:38. | |
lights here signalling it is on. One company watching the US market | :05:39. | :05:42. | |
closely will be a Chinese tech giant. Last month, this man went on | :05:43. | :05:48. | |
Facebook to announce their own drone. The specifications are very | :05:49. | :05:55. | |
high like most of his projects. The pricetag is considerably lower than | :05:56. | :06:02. | |
its Western equivalents. There are further opportunities to be had in | :06:03. | :06:04. | |
building software that makes use of drones. This is a Google street view | :06:05. | :06:11. | |
in the sky. It maps out what is beneath it to provide better | :06:12. | :06:15. | |
navigational data to drone pilots. It will take too long and that will | :06:16. | :06:19. | |
slow the growth of the industry if we use old technology. What they are | :06:20. | :06:25. | |
making smart decisions and are being methodical. It is just a matter of | :06:26. | :06:30. | |
demonstrating to regulators and society as a whole that they are | :06:31. | :06:35. | |
safe and they don't invade privacy. They are doing their best to shake | :06:36. | :06:42. | |
off suspect safety. Sometimes, irresponsible flying. They want to | :06:43. | :06:47. | |
move forward in what could be a multi- billion-dollar industry. San | :06:48. | :06:51. | |
Francisco, BBC News. If you are looking to set up shop anywhere in | :06:52. | :06:56. | |
the world, where do you think is the best place for your business to | :06:57. | :07:00. | |
grow? According to a report, four out of the top five countries of | :07:01. | :07:04. | |
retail investment are right here in Asia. My next guest is at the top of | :07:05. | :07:11. | |
the list. We have more on the retail findings. We are joined from | :07:12. | :07:16. | |
Shanghai. It is China. We looked at the top 30 countries and looked as | :07:17. | :07:21. | |
economic factors and retail specific findings. With Asia we have four of | :07:22. | :07:29. | |
the top five within Asia. It is about developing the middle-class | :07:30. | :07:32. | |
and the continuing growth in China. Despite economic headwinds, it is | :07:33. | :07:38. | |
growth of more than 8% in retail, larger than the GDP in all | :07:39. | :07:41. | |
countries, just in China. China is topping the list despite the | :07:42. | :07:47. | |
economic slowdown. India came in second. Despite the limits we saw | :07:48. | :07:51. | |
placed on many foreign retailers to invest there in the past, and very | :07:52. | :07:56. | |
surprisingly, Malaysia was third. Were these surprises? Were there | :07:57. | :08:02. | |
others? Look at that. Malaysia and Indonesia coming in at fifth with | :08:03. | :08:10. | |
Sri Lanka at 10th. Look at these. The development of the countries is | :08:11. | :08:14. | |
a lot around the middle-class continuing to develop. Asia ranks | :08:15. | :08:19. | |
very high. The government factors the support and the move towards | :08:20. | :08:24. | |
e-commerce. Many factors are continuing to drive the retail | :08:25. | :08:29. | |
sector. Malaysia, one of the questions that comes up is why | :08:30. | :08:33. | |
Malaysia? It isn't a large population. But what it has is a | :08:34. | :08:37. | |
very strong business readiness and friendliness components to it that | :08:38. | :08:44. | |
makes it easy to come in, especially with the Proxima D2 Indonesia. -- | :08:45. | :08:49. | |
component. It is a good place to build your brand in the region. -- | :08:50. | :08:56. | |
proximity. We also have convenience stores and hypermarkets looking to | :08:57. | :09:01. | |
roll-out from Indonesia to China. What are these trends you are | :09:02. | :09:06. | |
picking up on? What are some others? The interesting trend is around the | :09:07. | :09:10. | |
convenience stores. In China, look at the hypermarkets that have come | :09:11. | :09:14. | |
in. Across the region you have seen them come in from Taiwan and from | :09:15. | :09:24. | |
the US and Europe. But want to get past that initial footprint, Asia | :09:25. | :09:29. | |
still operates in major components. As they move up into that | :09:30. | :09:33. | |
middle-class spectrum, timing becomes more important, along with | :09:34. | :09:38. | |
efficiency. People are looking to shop in a friendly way. The other | :09:39. | :09:42. | |
factor coming into play across Asia and is typically in China is | :09:43. | :09:46. | |
e-commerce. The e-commerce penetration rate in China is double | :09:47. | :09:52. | |
what it is in North America. Over $1 billion in sales last year. If you | :09:53. | :09:57. | |
are a retailer coming into Asia you better understand the e-commerce | :09:58. | :10:02. | |
market. Let's look at the markets before we go. We had a dismal US | :10:03. | :10:10. | |
jobs report. US stocks down. And the Nikkei is tanking at well over 1%. | :10:11. | :10:14. | |
That is due to seeing the yen strengthened. That jobs report | :10:15. | :10:22. | |
leading to expectations the Fed will not raise interest rates any time | :10:23. | :10:28. | |
soon. And that is it for this issue of Asia Business Report. Thank you | :10:29. | :10:34. | |
for in the thing your time with us. -- investing. Welcome back. You are | :10:35. | :10:41. | |
watching BBC News. Let's bring you up-to-date with the headlines. | :10:42. | :10:45. |