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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:14. | |
Could China be the next big electric car exporter? We will show you the | :00:15. | :00:23. | |
latest from the Shanghai Auto Show. And Donald Trump orders an | :00:24. | :00:27. | |
investigation into steel imports. We find out why. Hello and welcome to | :00:28. | :00:39. | |
the Friday edition of Asia Business Report. I'm Sharanjit Leyl. The | :00:40. | :00:43. | |
world's biggest car makers have unveiled a range of plans to go | :00:44. | :00:47. | |
electric. But the number one manufacturer, VW, still says they | :00:48. | :00:59. | |
see life in combustion models. Robert Brunt is at the Shanghai Auto | :01:00. | :01:06. | |
Show for us. What are some of the latest models you are seeing there? | :01:07. | :01:10. | |
Everybody is here. This is the biggest car show in the biggest car | :01:11. | :01:14. | |
market in the world. All the manufacturers are here shown what | :01:15. | :01:19. | |
they have. This is not just about what you can drive away today, but | :01:20. | :01:22. | |
what you can drive away tomorrow. That includes autonomous vehicles | :01:23. | :01:25. | |
and electric vehicles. China wants to become the leader in the | :01:26. | :01:29. | |
electorate. That is the technology behind the cars, the batteries, but | :01:30. | :01:33. | |
also getting people to buy and drive them. Because it sees it as one way | :01:34. | :01:38. | |
of dealing with the huge pollution problem in the country. So I will be | :01:39. | :01:41. | |
looking at the strategies for some of the car makers when it comes to | :01:42. | :01:46. | |
electric, and that includes the largest carmaker in the world, VW. | :01:47. | :02:18. | |
TRANSLATION: We will continue to develop combustion engines in the | :02:19. | :02:23. | |
next two years. Nobody knows and we will see the tipping point between | :02:24. | :02:26. | |
electric engines and combustion engines. I think we will have them | :02:27. | :02:28. | |
for the next 20 years. TRANSLATION: New technologies always | :02:29. | :03:23. | |
need help. But car companies cannot live on their own. Infrastructure is | :03:24. | :03:28. | |
very, very important. And therefore, the government can do a lot of | :03:29. | :03:34. | |
important work for the infrastructure for these kind of | :03:35. | :03:35. | |
vehicles. -- kinds. Soapie increasing lure of the SUV | :03:36. | :03:53. | |
could cause problems for China's desire to go to electric. -- So the. | :03:54. | :04:01. | |
A bit like Google, a lot of money has gone towards autonomous | :04:02. | :04:08. | |
vehicles. It hopes to have vehicles on the road, on the streets, the | :04:09. | :04:13. | |
real streets, by 2020, but interestingly, I spoke to a senior | :04:14. | :04:18. | |
adviser at VW, they have their own plans, but they weren't sure about | :04:19. | :04:22. | |
that ambitious plan. They had concern about operating the vehicles | :04:23. | :04:26. | |
in such a short space of time in conditions other than clear daytime. | :04:27. | :04:29. | |
You'll be watching the story there at the Shanghai Auto Show. And we | :04:30. | :04:38. | |
will get more from there throughout the day. The global steel industry | :04:39. | :04:43. | |
is the latest target of Donald Trump's result put America first. He | :04:44. | :04:48. | |
is imported an investigation into whether imports of foreign-made | :04:49. | :04:53. | |
steel is hurting American companies. -- he has ordered an. China is the | :04:54. | :04:58. | |
biggest producer of steel and would be the one to hurt most if there | :04:59. | :05:03. | |
were restrictions on the importing of steel. | :05:04. | :05:06. | |
This allows the Federal government to launch an investigation to see if | :05:07. | :05:15. | |
the steel imports, if it hurts US steel companies, domestic companies, | :05:16. | :05:21. | |
and, crucially, if this is in fact a threat to national security. This | :05:22. | :05:25. | |
was met with great cheers from American steel companies. In fact, | :05:26. | :05:31. | |
they would rally at on the exchanges in US markets today. Because they | :05:32. | :05:34. | |
have long complained that the dumping of foreign steel on Tig US | :05:35. | :05:38. | |
market is really puts them at a disadvantage. And how odd doesn't | :05:39. | :05:45. | |
seem that Donald Trump seems to be reverting to a 1962 law that limits | :05:46. | :05:51. | |
imports, based on, as you say, national security? -- the US market. | :05:52. | :05:57. | |
It is certainly rarely use. But one of the key factors in using this is | :05:58. | :06:05. | |
that if it does meet the criteria of being a threat to national security, | :06:06. | :06:11. | |
it would allow the US to impose retaliatory measures. -- used. Some | :06:12. | :06:18. | |
of those measures could include tariffs. The trick will be proving a | :06:19. | :06:25. | |
national security risk. In 2001, a similar probe was launched, and they | :06:26. | :06:30. | |
did not find any evidence that this was a threat to national security. | :06:31. | :06:38. | |
So it might be a tough sell. I guess the elephant in the room is that | :06:39. | :06:44. | |
this may well be seen to be targeting China. They have got a | :06:45. | :06:48. | |
glut of steel on the market at the moment. And they have been accused | :06:49. | :06:52. | |
of dumping it cheaply on others. Absolutely. American steel companies | :06:53. | :06:58. | |
in the first to complain of this kind of dumping. -- have been the | :06:59. | :07:05. | |
first. Tons of US to make foreign steel makes its way to US markets. | :07:06. | :07:13. | |
At as Donald Trump tries to force a bigger mandate of buying American | :07:14. | :07:17. | |
hiring American, you need to look at his $1 trillion plan for spending on | :07:18. | :07:23. | |
infrastructure. He said that when it comes to those projects, it is | :07:24. | :07:27. | |
imperative that those projects use American things, like American | :07:28. | :07:34. | |
steel. So this is in tune with the idea that the President wants to | :07:35. | :07:39. | |
protect what is happening here in the United States. And those | :07:40. | :07:41. | |
protectionist ideas are really coming to fruition, here. Samira | :07:42. | :07:51. | |
Hussein there. Businesses have been complaining about the expensive and | :07:52. | :08:04. | |
complicated fees in China. Earlier, I spoke to somebody from the China | :08:05. | :08:15. | |
Market Research. He says tax cuts could help businesses. It will | :08:16. | :08:21. | |
foster innovation. I think the problem in China for a long time has | :08:22. | :08:25. | |
been that smaller businesses have not understood the tax code. They | :08:26. | :08:29. | |
have not had the money to be up to keep up with new changes to tax | :08:30. | :08:33. | |
laws. It has been difficult for them to adapt. The changes that are now | :08:34. | :08:37. | |
happening in the tax code, it is a good buy things and make it easier | :08:38. | :08:40. | |
for small businesses to survive, because there are all tax rate will | :08:41. | :08:45. | |
go down. In spite of the better than expected GDP numbers earlier this | :08:46. | :08:49. | |
week, do these tax cuts, these measures by the Chinese economy to | :08:50. | :08:54. | |
try to prop up its economy, do they suggest that they are slightly | :08:55. | :09:00. | |
worried? I think that this will probably not helped the economy that | :09:01. | :09:04. | |
much in the short-term. But I think they are taking a longer-term | :09:05. | :09:07. | |
approach you. If you look at the traditional model, it has been | :09:08. | :09:11. | |
impressed, invest, invest. But they are realising now that they cannot | :09:12. | :09:15. | |
invest in a lot more infrastructure projects. It is up to make the | :09:16. | :09:19. | |
difference is they need. So this is actually going to give them the | :09:20. | :09:24. | |
ability to really drive growth. -- invest. Do you think this is part of | :09:25. | :09:30. | |
a larger fiscal reform China has in mind? It is hard to say. I want to | :09:31. | :09:36. | |
say yes. We have been in a situation where we take to step forwards than | :09:37. | :09:40. | |
one back. It is difficult to know with the current people in power | :09:41. | :09:43. | |
what is really going to happen in the longer term. I suspect that with | :09:44. | :09:47. | |
this tightening its publication, we are moving in that direction. And | :09:48. | :09:54. | |
what are your forecasts for the outlook in China? Is a magic, higher | :09:55. | :10:01. | |
than expected GDP, but can they sustain that? I am positive. I was | :10:02. | :10:07. | |
worried will go to go through a sustained slowdown. -- as I said | :10:08. | :10:15. | |
earlier, higher than. There was a lot of investment be. Highly cash. I | :10:16. | :10:20. | |
think that we will have a good year and I think that they should be able | :10:21. | :10:24. | |
to hit their targets or them. A quick look at the markets. They have | :10:25. | :10:29. | |
all opened higher. That is it for today's addition. Thank you for | :10:30. | :10:31. | |
watching. You are watching BBC News. Our main | :10:32. | :10:44. | |
stories this hour: A shark attack on the Champs-Elysees has left one | :10:45. | :10:50. | |
police officer dead and two word. The gunmen | :10:51. | :10:51. |