:00:00. > :00:15.Now on BBC News all the latest business news live from Singapore.
:00:16. > :00:23.As Donald Trump gets ready to move into the White House we look at his
:00:24. > :00:31.plans to improve the US economy. And the latest growth figures in China
:00:32. > :00:38.will be scrutinised under worries of a potential trade war. Hello and
:00:39. > :00:46.welcome to Asia Business Report. The big day is finally here. Dan Norton
:00:47. > :00:51.up's inauguration and the many he is a controversial person to move into
:00:52. > :00:57.the White House and there is a lot of uncertainty as to how presidency
:00:58. > :01:11.will impact the economy. This was the moment democrats hoped
:01:12. > :01:16.would put that in check after financial crisis that led to the
:01:17. > :01:21.worst US recession since the Great Depression, President Obama and the
:01:22. > :01:24.American people were eager to see regulations that would put limits on
:01:25. > :01:29.bad behaviour and prevent US taxpayers from ever having to bail
:01:30. > :01:36.out the banks again. But Republicans have been attacking dog Frank since
:01:37. > :01:41.its inception saying it has gone too far. Now they are in power, scaling
:01:42. > :01:46.back some of those rules is finally in reach. Bank lending has been
:01:47. > :01:51.impeded. We have practically zero interest rate yet Gross domestic
:01:52. > :01:59.investment is negative or barely rising. GDP growth has not gone
:02:00. > :02:06.above 2%. Part of that reason is the overregulation. Although the
:02:07. > :02:11.incoming Trump administration says it will dismantle it, what exactly
:02:12. > :02:20.that will look like is a big unknown but the hope of what is to come has
:02:21. > :02:32.banking stocks euphoric. Supporters worry what could happen if they are
:02:33. > :02:44.repealed. A signature part was created by Paul. The rock provisions
:02:45. > :02:55.that hopefully can take care of things without disrupting the whole
:02:56. > :03:02.market. To stop the next crisis. The document is often criticised as an
:03:03. > :03:07.overly complicated one size fits all solution. With Donald Trump in his
:03:08. > :03:12.way to office, those regulations may be on the way out. The question then
:03:13. > :03:13.is whether or not it leaves the US exposed to yet another financial
:03:14. > :03:24.crisis. Rather unusually, US stocks fell
:03:25. > :03:28.ahead of the swearing in the remaining of Donald Trump. The
:03:29. > :03:34.longest losing streak since the election falling for a fifth
:03:35. > :03:42.straight day which is ironic when we saw Mr Trump's win in November had
:03:43. > :03:51.triggered a rally in US stocks. We were looking at the key 20,000
:03:52. > :04:03.level. What can we expect then in the next four years? Spoke to
:04:04. > :04:09.economists. The economy is in fine shape, unemployment is that only
:04:10. > :04:13.4.7% and as Janet Yellen said yesterday that is close to full
:04:14. > :04:19.employment and what Trump is planning to do is cut taxes and
:04:20. > :04:24.raise spending on infrastructure in particular and if he does that, he
:04:25. > :04:29.will generate quite a lot of inflation and I think bond yields
:04:30. > :04:34.will rise sharply as a result. Going back to the Labour issue, jobs
:04:35. > :04:39.coming back to the US - we have had a lot of the rhetoric, particularly
:04:40. > :04:46.with the auto company changing their outlook and strategy in a way
:04:47. > :04:54.because of Trump's push towards manufacturing in the US or else you
:04:55. > :05:01.face import tariffs. Is this all due to Trump? The US will impose a
:05:02. > :05:07.border tax adjustment and, in effect, will start subsidising
:05:08. > :05:12.exporters by exempting them from proper tax while ensuring that all
:05:13. > :05:21.important expenses will face attacks. This is supposed to be the
:05:22. > :05:26.equivalent of a VAT. It is probably not compliant but if it does go
:05:27. > :05:31.through it will have a chilling effect on global trade it was the
:05:32. > :05:42.largest economy will be moving towards a protection is a fact. The
:05:43. > :05:49.owner of the New York jets has been asked to join the Republican Party
:05:50. > :05:53.Cabinet. He has been named as ambassador. Paramount pictures is
:05:54. > :05:58.getting a $1 billion investment in cash from the Chinese firms.
:05:59. > :06:07.Paramount has been struggling to secure money. The three-year deal
:06:08. > :06:14.with the Shanghai group gives it a foot in the second largest box
:06:15. > :06:19.office market. China will release its economic data. Vigurs attempt to
:06:20. > :06:27.come in line with the official target so we are not really
:06:28. > :06:36.expecting any huge surprises. -- data is expected to. Earlier I asked
:06:37. > :06:39.an economist in Hong Kong about it. There are always question marks
:06:40. > :06:46.about the official markets. From an investing point of view, we do not
:06:47. > :06:51.only focus on one data series, such as GDP. In the past, government
:06:52. > :06:55.officials were rewarded in terms of our fast province could grow and
:06:56. > :07:00.with the anticorruption campaign we saw a different shift in terms of
:07:01. > :07:06.how people are rewarded. Different messages coming out from Beijing and
:07:07. > :07:15.we will see the targeted GDP number come down gradually. You hurt me
:07:16. > :07:21.talking about Donald Trump as the next president and concerns that
:07:22. > :07:29.that tensions will mount with China with his protectionist style. He
:07:30. > :07:33.implements Savea tariffs. The global trade environment is quite fragile
:07:34. > :07:41.so the World Trade Organisation estimated last year that trade only
:07:42. > :07:47.group 1.7% which is slower than GDP growth. If can't implement harsh
:07:48. > :07:52.penalties towards Asian companies, the knock-on effect will be towards
:07:53. > :07:56.the US consumer because the tariffs will be passed on from the company
:07:57. > :08:02.to the consumer and I doubt that is what he will want to see. The world
:08:03. > :08:07.economic foreign is often criticised as being a talking shop for the
:08:08. > :08:15.global elite. Inequality and the backlash against globalisation have
:08:16. > :08:24.the sheer taken front stage. Our companies listening? Capitalism is
:08:25. > :08:29.the very lifeblood of the World Economic Forum in Davos. People who
:08:30. > :08:35.come here are very committed to the idea that we trade is the basis of
:08:36. > :08:41.future asperity so how are they responding to the message from some
:08:42. > :08:46.voters who feel that that prosperity has not been evenly spread. Let's
:08:47. > :08:50.start with the US and Donald Trump. The fact that he won the election is
:08:51. > :08:56.not something that surprised or not surprise me but the fact that people
:08:57. > :09:02.are unsettled, not happy, wanting change, that is a very clear. But it
:09:03. > :09:06.is not just American voices expressing concern about the
:09:07. > :09:10.consequences of free trade. I personally think we cannot stop
:09:11. > :09:14.globalisation. There is no going back, it is in their and it will
:09:15. > :09:20.continue but I think we could definitely do it in a more conscious
:09:21. > :09:24.way, in a more inclusive manner and our leaders should foster more
:09:25. > :09:28.inclusive than us and try to find the middle ground. What has become
:09:29. > :09:32.clear in the last few days in doubles is that companies
:09:33. > :09:39.desperately want to hang on to the benefits of globalisation but at the
:09:40. > :09:43.same time are increasingly realising that governments have a
:09:44. > :09:47.responsibility towards those who risk losing out. What is not yet
:09:48. > :09:57.clear is how that responsibility can take shape. A quick look at the
:09:58. > :10:17.markets before we go. The Nick a is flat at the moment. -- nikkei. We
:10:18. > :10:24.have the Chinese GDP numbers are out in just under 20 minutes and a lot
:10:25. > :10:28.of caution setting out even so 6.7% is the expected figure. Thank you
:10:29. > :10:30.for watching.