0:00:00 > 0:00:02transition period after Brexit, it says Britain will have to obey
0:00:02 > 0:00:04all EU rules during the transition.
0:00:04 > 0:00:17Now on BBC News, all the latest business news live from Singapore.
0:00:17 > 0:00:32A leading businessman with a stern warning for Britain. And could steel
0:00:32 > 0:00:37and aluminium be next? Good morning, Asia. Hello, world. Welcome to
0:00:37 > 0:00:41another edition of Asia Business Report. I am Rico Hizon. It's a
0:00:41 > 0:00:49Tuesday. Thank you for joining us. Brexit. A major Chinese employer in
0:00:49 > 0:00:55the UK has warned Thai minister Theresa May that she needs to give
0:00:55 > 0:00:58people a definite signal about the kind of Brexit bill she wants. --
0:00:58 > 0:01:05Prime Minister. The department store owner spoke to the BBC on the eve of
0:01:05 > 0:01:11her visit to the mainland. We have more. British things with an
0:01:11 > 0:01:17unmistakable Rajesh feel on sale in a distinctly British place. --
0:01:17 > 0:01:24British. But this is China, the home city of a billionaire who now
0:01:24 > 0:01:32controls the change. He has 17,000 staff on his books in the UK, and a
0:01:32 > 0:01:38major interest in the future of Britain, including, of course,
0:01:38 > 0:01:38Brexit.
0:01:54 > 0:01:58Is your business in the UK going to be better outside the European
0:01:58 > 0:02:02Union, worse, what do you think?
0:02:06 > 0:02:23? Being bought by a Chinese company is a surefire way to get access to
0:02:23 > 0:02:27this country. But it can be a very challenging experience. One way in,
0:02:27 > 0:02:40though, is this the Pope this Thomas Cook China add offers tailored
0:02:40 > 0:02:48access. They are opening up in some ways, though to be the UK has a new
0:02:48 > 0:02:54deal to send more pig trotters here. Step-by-step they are aiming for
0:02:54 > 0:03:00incremental trade deals with China in a post- Brexit world.Share
0:03:00 > 0:03:05prices hitting record highs on Monday as the annual economic survey
0:03:05 > 0:03:11predict that India would once again be the world's farce growing
0:03:11 > 0:03:22economy. Growth would be between 7.5% and 7%. We are joined by our
0:03:22 > 0:03:26business reporter. Which particular sectors and industries will lead the
0:03:26 > 0:03:35pack for India to grow by more than 7% in the next fiscal year?The
0:03:35 > 0:03:38Indian economic survey points out the recovery in the exports sector
0:03:38 > 0:03:44is one of the leading factors for projected growth, also talking about
0:03:44 > 0:03:47the banking sector strengthening after the Indian bankruptcy court
0:03:47 > 0:03:54has been introduced. It is banking on foreign investment, indicating
0:03:54 > 0:04:00the upcoming budget in India could look at liberalising certain
0:04:00 > 0:04:06sectors, especially after the announcement of increased foreign
0:04:06 > 0:04:10investment in India. This is where it we could have more investment in
0:04:10 > 0:04:18the country. Also, it talks about how the Indian economy is at a
0:04:18 > 0:04:26precipice, with a shot in the economy.Which risks, red flags,
0:04:26 > 0:04:33could stifle this growth going forward?That is where protectionism
0:04:33 > 0:04:39comes into play with the Indian economic survey showing export
0:04:39 > 0:04:44recovery in India. It talks about high crude oil prices which could
0:04:44 > 0:04:51increase the import bill for India and hurt economic growth.Thank you
0:04:51 > 0:04:56for updating us on the economic survey to be President Trump will
0:04:56 > 0:05:03deliver his first State of the Union address in 24 hours -- survey. Just
0:05:03 > 0:05:06last week he followed up months of rhetoric about protectionism by
0:05:06 > 0:05:14imposing heavy tariffs on solar. This hit Asia, most impacted by the
0:05:14 > 0:05:22move. But Donald Trump warns there is more to come. Powering a
0:05:22 > 0:05:29potential trade war. Steep tariffs on imported solar panels in America
0:05:29 > 0:05:36have divided the sake. US -based manufacturers are happy. -- sector.
0:05:36 > 0:05:41But those that use American products, many which come from
0:05:41 > 0:05:46China, fear they will lose business, and people like this could lose
0:05:46 > 0:05:57jobs. This woman runs a firm which imports them.There is a way to
0:05:57 > 0:06:02incentivise it. But this is symbolically a bad way to do it to
0:06:02 > 0:06:07instead of saying we will tax solar, you could say we will make it
0:06:07 > 0:06:11cheaper and better the manufacture in the US.President Trump
0:06:11 > 0:06:16officially approved the tariffs last week. This is a move in line with
0:06:16 > 0:06:22his America first policy. Protectionism is what the president
0:06:22 > 0:06:26campaigned on, and what he seems to be delivering. He is renegotiating
0:06:26 > 0:06:30free trade agreements with Canada, Mexico, and South Korea, which he
0:06:30 > 0:06:34thinks are unfair, and solar products and washing machines are
0:06:34 > 0:06:38only the first among a host of items he wants to start import duties on.
0:06:38 > 0:06:44Steel and aluminium are expected to be next on the list. China is the
0:06:44 > 0:06:50world's biggest producer of both. Many argue prices in the US are low
0:06:50 > 0:06:53because of cheap imports from the Asian giant. Others say they
0:06:53 > 0:07:00delivered a deadly blow to American manufacturing.China has been waging
0:07:00 > 0:07:04a trade war on the US for two decades. We have been following a
0:07:04 > 0:07:12policy of maligned neglect. We have been ignoring our own interests.It
0:07:12 > 0:07:15is not just China. US policies could impact several nations. Voices
0:07:15 > 0:07:22against protectionism have already grown louder. And in a globalised
0:07:22 > 0:07:30world, some of these leaders could decide to hit back. It is earnings
0:07:30 > 0:07:33season for corporate America, with McDonald's bringing out their report
0:07:33 > 0:07:42later today. Worldwide, it was worth $440 billion in 2016. It is expected
0:07:42 > 0:07:54to hit 690 billion US dollars by 2022. That is a lot of shakes,
0:07:54 > 0:07:59burgers, and fries. Does Asia have the same appetite? Asia is the
0:07:59 > 0:08:16fourth greatest growing in the industry. Earlier, I spoke with a
0:08:16 > 0:08:19guest about how Asian brands are fairing against Western rivals.They
0:08:19 > 0:08:25are aggressively expanding in all of Asia, even in the Europe and the US
0:08:25 > 0:08:31markets. They love it. Filipinos have a huge influence on other
0:08:31 > 0:08:43customers.One of the big franchises in Singapore is Four Fingers. Are
0:08:43 > 0:08:57they expanding?They will expand in Thailand and Australia. They have a
0:08:57 > 0:09:01new trend of premium chicken, which people crave.Not all brands are
0:09:01 > 0:09:04successful in the Asia-Pacific region. Which ones are struggling at
0:09:04 > 0:09:12the moment?Traditional fast food, KFC, it is closing down a bit. With
0:09:12 > 0:09:19all the competition and new brands and flavours, consumers just like
0:09:19 > 0:09:22newer things to experience.What is the overall trend in the industry?
0:09:22 > 0:09:34Consumers going to stores? Do they just order on line?There is
0:09:34 > 0:09:36definitely more web delivery, overtaking drive-in customers.
0:09:36 > 0:09:52Third-party aggregates like food delivery, UberEats, etc, they are
0:09:52 > 0:09:56delivering more.It makes me hungry. A quick look at the markets. Not a
0:09:56 > 0:10:02very good day for Asian stocks this Tuesday. All of them are in negative
0:10:02 > 0:10:10territory after US equities pulled back from record highs. The SNP 500
0:10:10 > 0:10:19had its biggest decline in five months. You have the Nikkei, the
0:10:19 > 0:10:27Hang Seng Index, the All Ordinaries Index, all of them are in the red in
0:10:27 > 0:10:29midmorning Tuesday trade. Thank you so much