Browse content similar to 12/05/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
One belt, one road. China gears up for its first new silk Road Summit | :00:00. | :00:00. | |
in Beijing. What will it mean for investors. Skyhigh prices for homes | :00:00. | :00:07. | |
in Asia. Which property market gives you the best bang for your buck? It | :00:08. | :00:16. | |
is Friday, everyone. Thank you for joining us. I am Rico Hizon. 28 | :00:17. | :00:23. | |
world leaders will gather in Beijing over the weekend to discuss China's | :00:24. | :00:26. | |
grand plan to invest billions of dollars to improve its global trade | :00:27. | :00:33. | |
links. What is known as the one belt one road initiatives is crucial for | :00:34. | :00:37. | |
the Chinese president. There are concerns that it is masking other | :00:38. | :00:41. | |
ambitions. Our correspondent has the details. By sea and by land China's | :00:42. | :00:53. | |
president has a big idea to bring his country closer to some of you. | :00:54. | :00:59. | |
It is called one belt, one road. An awkward and confusing name but it is | :01:00. | :01:03. | |
about trade links. The belt refers to this, road and rail that heads | :01:04. | :01:09. | |
west through outer China. But look at this. This is the road. Maritime | :01:10. | :01:16. | |
that heads south and then West. China wants to take ancient silk | :01:17. | :01:21. | |
Road trading routes and update them by ploughing hundreds of billions of | :01:22. | :01:24. | |
dollars into infrastructure in various countries along the way. New | :01:25. | :01:29. | |
ports, pipelines and railways. The President has made it his signature | :01:30. | :01:37. | |
policy. China's president talks about it a lot and the figures | :01:38. | :01:44. | |
bandied around are huge. Dozens of projects planned, ambitions to spend | :01:45. | :01:48. | |
maybe half a trillion dollars. But, still, they need this. What appears | :01:49. | :01:59. | |
to be a government propaganda video. This is the reality of the belt and | :02:00. | :02:05. | |
road grand plan. As growth in the economy slows, China wants to find | :02:06. | :02:11. | |
new markets. One of the big worries abroad is 1-way traffic. The | :02:12. | :02:17. | |
government makes it difficult for many foreign firms to operate here, | :02:18. | :02:21. | |
selling Spanish wine to the growing rich middle class should not be | :02:22. | :02:29. | |
difficult but... Last, but not least, there is the suspicion that | :02:30. | :02:32. | |
China is spending big to increase its influence, plain and simple. | :02:33. | :02:38. | |
China trading with the rest of the world is nothing new but it is the | :02:39. | :02:42. | |
scale that is so different. One belt one road is hugely ambitious but | :02:43. | :02:46. | |
there is much rhetoric around it. Now it is up to this president to | :02:47. | :02:50. | |
make sure it all comes together if it is to be more than just his pet | :02:51. | :02:52. | |
project. So what will this huge | :02:53. | :03:00. | |
infrastructure project means for investors? We speak to the Canadian | :03:01. | :03:06. | |
Chamber of Commerce in China. I asked him what Canadian businesses | :03:07. | :03:11. | |
thought of this initiative. I think Canadians another international | :03:12. | :03:13. | |
business people are excited about the expansion of infrastructure. | :03:14. | :03:17. | |
However we always like to see the Devil in the detail and Howard is | :03:18. | :03:22. | |
executed over time. If we see the devil and the detail, how do you | :03:23. | :03:26. | |
think this will benefit the Canadian business? From a basic point of | :03:27. | :03:33. | |
view, the expansion of infrastructure, it will definitely | :03:34. | :03:38. | |
increase trade between second-tier markets in China and second-tier | :03:39. | :03:43. | |
markets in Canada. Likewise, around the world. However, I think the | :03:44. | :03:48. | |
issue remains what is going back and forth between the two countries. Is | :03:49. | :03:54. | |
that trade balance? What are you expecting and what are you looking | :03:55. | :03:58. | |
forward to in this one belt one road summit taking place in Beijing? I | :03:59. | :04:03. | |
think what comes out will be interesting. Much of it will be | :04:04. | :04:09. | |
details that a prearranged in that, we all know that infrastructure is | :04:10. | :04:13. | |
going to expand very greatly, um, we know that this will connect China to | :04:14. | :04:20. | |
any countries in Central Asia, western Europe. However, aside from | :04:21. | :04:25. | |
just a building a lot of infrastructure, what services come | :04:26. | :04:28. | |
out? I think it is a mystery to everybody. A mystery and an | :04:29. | :04:32. | |
ambitious plan from the Beijing government. If the US policy for | :04:33. | :04:38. | |
America first pushing its allies to look to China for better global and | :04:39. | :04:44. | |
regional leadership? On behalf of Canada, definitely. They have, the | :04:45. | :04:51. | |
US have slapped a tariff on Canadian lumber, China is our second biggest | :04:52. | :04:57. | |
market for our lumber. Canada has spent decades selling wood into | :04:58. | :05:06. | |
China. The policies of the Trump administration are certainly making | :05:07. | :05:09. | |
China far more important a trade partner than they were before. In | :05:10. | :05:17. | |
other business news making headlines the value of that coin has set a new | :05:18. | :05:21. | |
all-time high rising above 1800 dollars on Wednesday. Industry data | :05:22. | :05:32. | |
shows it has settled back to 1789. It is the second time this week that | :05:33. | :05:39. | |
new highs have been set. Market value of Bitcoin has increased | :05:40. | :05:43. | |
significantly in four days. Owners of snack Shack are still struggling. | :05:44. | :05:49. | |
They are still down in New York trade. This comes after Snap posted | :05:50. | :05:55. | |
a big loss of over $2 billion in its first quarter since it listed on | :05:56. | :06:00. | |
Wall Street in March. New Sun have warned that profits could fall. It | :06:01. | :06:09. | |
expects profits to fall nearly 20%. The profit warning comes one day | :06:10. | :06:12. | |
after Toyota predicted tough times ahead due to slowing stay sales in | :06:13. | :06:18. | |
the United States and the strong Japanese yen. The downturn in the US | :06:19. | :06:22. | |
retail sector shows no sign of letting up. Macy's reporting a ninth | :06:23. | :06:31. | |
consecutive quarter of falling southward profitability down by 39%. | :06:32. | :06:35. | |
Fears of the prospects for retail spread to rival department store | :06:36. | :06:40. | |
chains with others falling between five to 8%. For most people, a home | :06:41. | :06:46. | |
is the most expensive thing they will ever own. Real estate is a | :06:47. | :06:50. | |
major investment for many people here in Asia but you should you put | :06:51. | :06:55. | |
money into an expensive market like Hong Kong or bet on a rapidly rising | :06:56. | :07:01. | |
real estate market like India? We spoke to the chief executive of the | :07:02. | :07:07. | |
property firm JL L. Talk to anyone who owns property or who wants to | :07:08. | :07:13. | |
get on the property ladder, the value of homes preoccupies the minds | :07:14. | :07:17. | |
of most. Where to live and what to buy here in Asia is a bit of an | :07:18. | :07:21. | |
obsession and who better to make sense of it all than the chief | :07:22. | :07:31. | |
executive of JL? We have two minutes with you starting now so I will | :07:32. | :07:34. | |
start by asking what the property market is like here in Singapore and | :07:35. | :07:39. | |
the region? Singapore or at the bottom of the market at the end of | :07:40. | :07:45. | |
last year but we saw a U-turn of 1% in the luxury sector. We feel with | :07:46. | :07:50. | |
the easing of the measures in the residential sector, improving | :07:51. | :07:53. | |
sentiment in the economy it is a good time to buy residential and | :07:54. | :07:57. | |
Hong Kong. Prices are already high so there is an expectation they may | :07:58. | :08:04. | |
ease away. Japan is a surprise, they are worth chasing and Australia has | :08:05. | :08:07. | |
always been a favourite given the quality of life there. Looking at | :08:08. | :08:10. | |
China, we know that there are capital controls in place right now | :08:11. | :08:14. | |
and the Chinese were huge buyers in the region. How has that impacted | :08:15. | :08:19. | |
the property market? In the middle point of last year, Chinese | :08:20. | :08:21. | |
investors were very focused on Europe and the Americas, obviously | :08:22. | :08:25. | |
what has happened with Trump and Brexit the money has come away from | :08:26. | :08:29. | |
those markets and combined with the anti- curbing measures with the | :08:30. | :08:33. | |
Chinese currency much more focused on investing in Asia-Pacific despite | :08:34. | :08:41. | |
some cost-cutting measures. If China can support a wonder one Road, | :08:42. | :08:44. | |
government approvals will come through. You are the chief executive | :08:45. | :08:49. | |
of JL L here in the Asia-Pacific region. What are some of your chief | :08:50. | :08:53. | |
duties? It is fantastic to be here in the Asia-Pacific. The growth | :08:54. | :08:56. | |
driver of the world at the moment and, therefore, globally there is a | :08:57. | :09:00. | |
lot of pressure on us to grow our business. We have been here for 50 | :09:01. | :09:04. | |
years and there is absolutely no shortage whatsoever of opportunity | :09:05. | :09:07. | |
here. Our greatest challenge still remains a talent. We are service | :09:08. | :09:12. | |
sector and talent is critical. As a brand we must remain relevant and we | :09:13. | :09:18. | |
must retain the best talent in the real estate sector. As a property | :09:19. | :09:23. | |
investor, we should I invest? You know Singapore, you feel comfortable | :09:24. | :09:27. | |
here and I think Singapore is a safe bet. A little bit of a wild card, I | :09:28. | :09:32. | |
would start looking at India and Japan as future will potential | :09:33. | :09:34. | |
residential opportunities. Let's have a look now at the markets | :09:35. | :09:46. | |
and Asian stocks are flat to negative right now after US | :09:47. | :09:50. | |
securities fell overnight. And worse than expected sales dropped from US | :09:51. | :09:55. | |
department stores. Fears are that consumers are not spending enough. | :09:56. | :09:59. | |
This impacts Asian markets because many of the products being sold in | :10:00. | :10:03. | |
the US are being purchased from Asian markets. The Japanese market | :10:04. | :10:10. | |
is down by 40 and the All Ords down by 11. Have a productive Friday, | :10:11. | :10:12. |