27/02/2018 Asia Business Report


27/02/2018

Live from Singapore, the essential business news as it breaks and a look ahead to the news that will shape the business day.


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Prime Minister, saying it

would safeguard jobs and living

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Now on BBC News, all the latest

business news live from Singapore.

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Day two of the world mobile Congress

in Barcelona. We find out what they

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have to say about the US ban on its

product. New Zealand public finance

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minister tells us what the GBP would

mean for the best TPB would mean for

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the country's economy. Good morning,

Asia, and hello world. Clad you

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could join us for this edition of

Asia business report. It is Tuesday,

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and I am Rico he's on. We start off

with the world mobile Congress in

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Barcelona today, and American

politicians have been accused of

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barring the company from the US

market for commercial reasons.

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Operators have been warned from

stalking him, mobile phones over

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concerns that the company is too

close to the Chinese government. The

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firm insists it's independent that

it's mobile boss told Rory Katlyn

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Jones that they have big ambitions,

whatever happens in America.

Every

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year, we have strong growth, every

year. We have a chance to be number

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one, not far away.

You think you can

be number 11 date with global

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smartphones?

For sure. We have a

chance.

What are the problems with

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you achieving that, trying to get

into the United States market. You

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are nowhere in the Dutch in the

united states market because

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American politicians do not trust

you. Why do you think that is?

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Because some guy, some political

things are trying to keep us out

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because we are too competitive. We

have leading technology, so they

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worry about that, we are too strong.

Is that why American politicians

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want to keep you out, because you

are too competitive, or they worry

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that you are too close to the

Chinese government?

They are trying

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to say that, but we are actually

independent of the company, so those

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political things, to keep us out...

You are one of the leading Chinese

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companies in advancing artificial

intelligence. Is China going to be a

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superpower in AI? One of the things

you are showing off this week is a

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car with a phone in it, which is

basically making the autonomous car

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work. What are you trying to

demonstrate there?

We are

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demonstrating AI capability on a

smartphone, how AI on a smartphone

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is really amazing. It is not smart

enough, the smartphone, and we hope

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that in the future, and AIA

smartphone to be an intelligent

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phone.

What is your prediction in

five years from now, will you

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dominate the mobile phone industry,

and will it be in an American market

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in a significant way?

I think both.

We can be number one globally.

He

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was speaking to Rick Allen Jones. A

recent government report says New

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Zealand could see $4 billion added

to the economy with a revised

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transpacific partnership kicks in

later this year. Let us -- that is

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welcome news for the New Zealand

economy, where growth is inspected

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to slow out -- slow donated this

year. Earlier I spoke to the country

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-- company's new finance minister, I

asked him if the TPB would make a

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difference to the country's bottom

line.

I think the countries that

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have stayed the course with New

Zealand, Canada, Chile, countries

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like that, Singapore, they know that

there are good benefits for them in

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this agreement. An actual effect for

some countries, the US withdrawal

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means is area is easier to sign up

other areas. Buffer New Zealand, we

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are a small country, a trading

nation, and we need agreements like

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this to grow our prosperity.

But if

the United States was of the TPP,

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this should be adding a lot more

cash into the coffers. Do you think

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President Trump will ever change his

mind and rejoin TPP?

That is very

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difficult to know the answer, but

what we are pleased about is a good

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quality agreement has been signed by

11 countries. If the US wants to

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come back and to the agreement at

some point in the future, that

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remains possible, but we have an

agreement that will open up access

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to markets for our exporters and

service providers, as it will for

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other countries. It is a high

quality agreement now, and New

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Zealand is proud to be a part of

the.

There is lots of talk will be

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-- that the UK will be interested in

joining the revised TPP after

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Brexit, are they welcomed?

All

countries who want to be part of the

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agreement are welcome to be there.

We have to get it signed obviously

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and ratified first, but New Zealand

is looking forward to discussing

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with the UK a possible trade

agreement. It is important for New

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Zealand to develop agreements with

the EU following Brexit, both are

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important markets for our exporters.

Let's look at the New Zealand

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economy, the new government is

taking a tough stance towards

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immigration and property purchases

by foreigners. Would this second --

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impact economic growth?

But we have

had for the last nine years is a

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major housing crisis. New Zealand

has had high homeownership rates in

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the past, we are many tens of

thousands of houses were of all we

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need. So part of what we have done

is put in some new rules and

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criteria around existing residential

housing, similar to the rules in

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Australia, and we are putting them

in place now to ensure that New

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Zealanders can buy their own homes.

What we still want our people coming

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from countries around the world to

invest in building new housing and

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supporting us to build our

infrastructure. We very much need

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that kind of investment.

It was New

Zealand's finance Minister Greg

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Roberson. China's top economic

adviser of drives into the USA today

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to try to smooth tensions between

the two countries over trade.

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Discussions between the White House

will take place as President Trump

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continues this considers new tariffs

on Chinese steel imports. So what

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kind of reception can he expect?

Is

likely to be quite frosty because we

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have seen increasingly tough talk on

both sides. Not just that, on the US

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side of talks, we have Robert light,

who is known to be a China hawk,

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meaning he is very aggressive in the

stance towards China, and trying to

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address trade imbalances. The US

side, the trust and believes there

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has been more talk about reform and

not enough action to the dish to

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address the fact that China has a

huge trade surplus with America, and

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they want to narrow that. Now the

man traveling is hopefully the right

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person to smooth over -- over these

tensions, because he is very senior.

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He is a trained at Harvard

economist, he is also a very trusted

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confidant of President seizing ping,

and China's annual meeting, he is

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inspected to be promoted to vice

Senior Premier. According to

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Reuters, he is also the front runner

to be the next governor of China's

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Central Bank after the current

governor -- Governor retires. There

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is a lot more for him destined to

discuss, including the possibility

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of the US putting new tariffs on

Chinese steel, as well as this fight

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over intellectual property practices

in China. So lots for them to talk

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about.

China and the US are always

at loggerheads in many ways --

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issues. They you for the update. A

few years ago, it was revealed that

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North Korea had just a handful of

websites, and minimal

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infrastructure. A new report from

cyber security firm fire eyes

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suggests that has not stopped the

country from making trouble.

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Business reporter Monica Miller

spoke to Bryce Bolton, the firm's

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Asia-Pacific -- chief officer, who

told her the hackers from the hermit

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state are becoming more

sophisticated.

You do not need to

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have a massive investment in

informational warfare to be very

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effective. In North Korea, to

recognize that a decade ago, and

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started investigate that investing

in their cyber warfare. What we're

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seeing today is the fruits of their

investment.

Are there third parties

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involved? Are the North Koreans

working with another country or

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individuals or corporations to make

this all happened?

It is clear that

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they are able to learn from what

other countries have been doing, and

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they have had relationships in the

past with China and Russia, and they

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may well be also using relationships

with ironic, also an emerging cyber

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power over the last few years.

You

are describing something that flies

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under the radar, it if it is tough

to detect, what are signs that your

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computer has been impacted.

Today,

you have two modes of operation for

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attackers, a targeted attack going

under the radar to steal information

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that could be used for your

advantage in informational warfare,

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but we also now have crypto

currencies, creating a massive

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opportunity for countries like North

Korea to extract value from

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computers anywhere in the world,

they can turn this computers into

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crypto currency minors, and use

those to extract money from the

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compute power that they have

co-opted. There is a term for this

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called crypto jacking, and it is

becoming a new nuisance for

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organizations, and what you are

seeing with crypto jacking is your

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CPU system will... That is

relatively easy to find and easy to

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stop.

Let's look at the Asian stock

markets, currently all headed north.

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After major gains on Wall Street

overnight. Thank you so much for

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investing your time with us, I am

Rico Hizon, sport today is

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