23/01/2017 Asia Business Report


Similar Content

Browse content similar to 23/01/2017. Check below for episodes and series from the same categories and more!



Now on BBC News all the latest business news live from Singapore.


The new US President get to work. But that gets to work. We find out


what it might mean for Asia and we go to Japan where the suicide of an


overworked employee has triggered an nationwide debate.


Hello and welcome to Asia Business Report. I am Sharanjit Leyl. While


the hard work begins for the incoming president, Donald Trump,


who has taken the office with the promise to put America first. He


urged businesses to buy American and higher American. Said overseas


industry has been enriched at the expense of American industry. What


are we likely to see from him in his first week at an office was to mark


I spoke with David Willis in Washington and asked him if America


first mean, the rest of the world second.


Trump making that point in his inaugural address, it is about


putting an America first, it is about reclaiming jobs which


President Trump believes have been lost to these trade agreement which,


in many cases, are just not fair, as far as America is concerned. What he


plans to do is withdraw from the Trans-Pacific Partnership, the trade


agreement which some say it by doing so will strengthen China's hand.


This was a major part of President Obama's trade dealings. He wanted to


pivot towards the South East Asia Pacific region while Donald Trump


believes there is nothing better the US. He plans to tear up that


agreement. He was to renegotiate whether North American Free Trade


Agreement is concerned. He wants to hold leaders -- talks with leaders


of Canada and South America with looking to renegotiating, provided


America can get a good deal. Early days yet, we know. He is yet to get


into his first week. Will he backed his statements with policies? Where


possible he seems intent on doing so. Tomorrow, his first full day in


office, his first weekday in office, he will sit down and find various


executive orders and in many cases, those will be repealing executive


orders that Barack Obama brought into a fact and trade is likely to


be top of the agenda for President Trump this week. He is very clearly


intent on seizing the initiative while he hasn't as far as the


publicity is with him and it will be interesting to see what he does


about building that wall along the Mexican border. He is to meet with


the Mexican president as I mentioned, in the next couple of


weeks. Although relations have been back on an even keel, there is


consternation over that pledge by Donald Trump. It will be interesting


to see how he plans to pull it off. David Willis.


Asia is expected to be a key focus for Mr Trump and he is going to take


a much more tough line on China. He is going to withdraw America from


the Trans-Pacific Partnership. Earlier, I asked what it will mean


for the trade deal if the US is not a part of it.


A think TTP without America is pointless. Even though you have some


countries saying they will push ahead, I don't see there is much


benefit from that unless America is going to take part and it's quite


clear they not going to. And Beazley the signal is sent to the rest of


the world is not a good one. It sends a signal that the US is


becoming protectionist. -- and the signal that is sent. Trump seems to


see it as a zero-sum game. If you win, I lose. It implies a more


aggressive approach against China. These are the two world's most


largest economies. Any souring of the trade relationship will have


repercussions elsewhere. He said he will label China currency and the


liquidators -- currency manipulators and will put tariffs on goods from


China. These goods going into China are re-exported. It affects the


whole of Asia if he goes ahead. We can expect some level of tariffs


against China. The issue is how will they respond? Do they respond in a


conservatory way and address some of the complaints and stabilise the


currency or do they respond with their own retaliation and


depreciation against the dollar in which case the whole thing could


escalate in a dangerous fashion. Indeed, as you say dangerous. Should


we start to the Asian policymakers perhaps tailoring their economic


policy in reaction to Trump? It's hard to react to something which is


unpredictable. I think as we have seen, you do not know what it is


doing next. He doesn't know. You can start to become closer to China,


knowing that America is moving further away but it's hard to know


what sort of contingency plans to put in place, I imagine, if you are


running the economy. In other news:, Korean and lecture


next giant Samsung has released its investigation into its Galaxy note


to smartphones which were recalled because they overheated and caught


fire -- Note seven. The manufacturers of the batteries were


to blame. It cost the company $5.3 billion. Nevertheless, the firm


expects profits driven by its booming airship business.


Fox, the largest electronics maker is considering setting up to play


Ash display making plant in the US. It will be $7 billion and be


generate many jobs. They will have to be negotiated at state and


federal levels. There is a new executive person


taking over Japanese giant. He is going to re-establish trust in the


company and the moves comes after this man stepped down last week to


take responsibility for the death of a 24-year-old employee who took her


life on Christmas Day in 2015. That is after complaining about excessive


working hours. After spending 20 hours at work


today, I can almost laugh because they don't even know why I exist.


What will be left of me, even if I survive these stressful days,


thinking I want to die everyday. These were the days of this


24-year-old, ten days before she took her own life. Her death is part


of the phenomena and known as death from overwork. This was first


recognised 30 years ago, although there have been cases of suicide,


the majority of these cases are medical where employees suffer heart


attacks and strengths. In 2015, claims of Karoshi rose to a record


of 2300. This woman worked a top advertising agency Dentsu.


Authorities raided their officers. They will be new rules to implement


to tackle this. The former executive apologised but given how entrenched


this is in Japan's work culture, will these changes be made?


Earlier, I put this question to a man from the school of management in


Japan. He joined us by webcam. This is


putting a bandage over a big wound. Moreover, I am say they are putting


a bandage over a stomach ache. It is almost irrelevant. Legislation about


overtime hours. It is not the problem. It is much deeper rooted.


That is basically Japanese cultural attitude towards work. The reason


why people work such long hours in Japan is not to reduce group


activity but basically that's how we work. We tried to get consensus on


team effort basis. Human relationship is more important than


the result. This is one of the reasons why it is taking so long in


getting things done in Japan. Once it is decided it is great, it is


straightforward but this is where the real problem lies. This cultural


attitude towards work has to start changing or else we are going to


have this problem over and over and over again.


That look at the markets before we go. It is turning out to be a blue


Monday here for these markets. The Nikkei is down, Australia is down,


this is due to what the protectionist policies that we are


seeing, concerns of them rising, with the new Trump administration.


Of course the US dollar is also slipping. It is leading to a


sell-off in exporters. Thank you for


Download Subtitles