19/03/2018 Asia Business Report


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19/03/2018

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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Commuters are being warned to expect

difficult conditions,

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especially in the

south-west of England.

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Now on BBC News, all the latest

business news live from Singapore.

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Finance ministers from the world's

20 largest economies meet in Buenos

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Aires with US turrets and a

potential US war high among their

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concerns. And for trade ties against

a backdrop of growing protectionism,

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while India achieve much from

hosting a meeting of select trade

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ministers? Quite you could join us

for Asia-Pacific -- glad you could

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join us. We begin with a meeting of

the G20 due to kick off in Buenos

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Aires in Argentina. Concerns over a

potential US- China trade rift and

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President Trump's steel and annually

on tariffs look still to dominate,

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one finance minister will be absent

from the meeting, Japan's ambassador

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not attending due to political

issues at home. Himself in the Prime

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Minister are under pressure after it

was revealed that official documents

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were altered by the Finance bureau

relating to a sale of state plans to

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school operator which has ties to

the Prime Minister's why. Both men

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say they were not aware about it

until this month. But apologised.

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What did this mean for the Prime

Minister and the economy?

It is not

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likely that the scandal is making

the Prime Minister resign so far but

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the election is coming in September

so if the supporting ratio the Prime

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Minister is declining, it may be a

problem. Slim chance that the Prime

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Minister may be resigning and

another candidate may be the leader.

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If it happens, we will have the more

worries for Japanese politics and

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our policies may be slowing down. It

isn't likely again but we should

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think about it. I think overall,

monetary easing will continue.

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Consumer prices are improving in

Japan, you have capital expenditure,

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we have not seen the Japanese

economy expand for each consecutive

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quarters for many years. Are we

likely to see a nice consecutive

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quarter of expansion in the January

- March quarter?

Right? We expect

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growing Japan for some or quarters

and by the end of 2018 growth is

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firm and 2019 Booval have a

consumption tax hike from 8% to 10%

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which is a risk scenario to stop

consumers activity.

And we have some

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important trade figures coming out

of Japan as well, exports rising

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1.8% in February compared to year

ago levels, that figure is much

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lower from the previous month in

January, outbound ship in gaining

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top .2%. The slowdown is due to

fight reactivities stalling across

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Asia during the lunar New Year

holiday. Imports gaining 16.5% in

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the year to February. Making

headlines Facebook has announced a

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comprehensive internal and external

review to determine whether the

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personal data 50 million users has

been compromised after reports that

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misuse by political consultancy

group Cambridge analytic. The firm's

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chief executive Alexander Nix has

been called back before a committee

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in the UK, Facebook will be asked to

testify. Both companies have denied

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wrongdoing. As protectionism rears

its head in America many trade

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partners have been racing a trade

war, India said it will engage in

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Washington over recent decisions

related to it exports in this week

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it plays host to several members of

the World Trade Organization. A

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business reporter joins us. How

influential is India do you think in

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terms of free trade in the global

landscape?

India is important as we

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rise, if you look at the last few

years, looking at some of the

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meetings taking place at the WTO

including discussions of

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controversial issues like food

stockpiling and providing subsidies

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for illegal fishing, India has been

an important voice along with China

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so with that in mind this meeting is

important, it is the first meeting

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after the 11th ministerial meeting

that took place in Argentina in

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December which failed to reach any

sort of consensus on critical

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issues. Given the rising

protectionism, especially two weeks

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back or a few days back, Donald

Trump's announcement raising import

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tariffs on steel and aluminium, the

issue was going to dominate the

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discussions, there are 40 countries

dissipating including some trade

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ministers in that sense it an

important meeting.

India export

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steel and aluminium and how will

this impact the economy if it rises

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to 10% and 25%?

Luckily the India it

isn't a big exporter to the USA that

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it is going to impact its mid-size

and some of the large companies and

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demand has fallen over the last few

years, steel demand, and it has been

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relying on exports to Europe and the

USA to really increase profitability

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of the company 's win that sense it

is important for India.

Thank you so

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much. Hong Kong's richest man

announced his retirement on Friday.

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He has been vague about plans to

retire in the past but as it turns

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90, it is apparently the right time.

His net worth is around $34 billion.

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It is for companies of all listed on

the Hong Kong stock exchange and

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reported earnings numbers on Friday.

If this is as cover ports, retail,

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energy, he will stay on in an

advisory role but now control has

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been passed on to his son, Victor.

Victor is 53 and has been deputy

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chairman since 2000 15. Moving to

the future of work, one is driving

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global demand the robots in the

workplace, it is by far the biggest

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marketplace for industrial robots

but while its big push to develop a

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high, the world's was popular

country could also be the place

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where machines you cannot see it and

buy software takeover swathes of

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jobs currently being done by people?

Our China correspondent has the

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details.

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I think the impact the people is

psychologically, they were felt

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threatened. But they will feel.

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Robots and artificial intelligence

are not new but their combined power

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and potential is revolutionising the

workplace.

There are types of

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routine jobs that will be totally

replaced so assembly lines,

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inspection, customer service,

representative, telemarketing, it

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will be a total replacement.

I have

to admit I am not feeling that

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comfortable but this is how a visit

to the dentist could look in the

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future. No human hands delving in,

no hot breath on your cheek.

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Instead, this, a robot, doing all

the hard work including of course...

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This robot dentist has been for

years in the making at a military

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hospital in China, it is operated on

a human for the first time last

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September.

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Movement has been a challenge

though, as it is with most robots.

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Moving patients, flinching in pain,

are problem.

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AI is an enabler, not an arms race,

so I think we should think about it

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as doing great things to every

country and how can we worked

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together to benefit from it and to

solve the challenges that it brings

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about?

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The future of work. China is

expected to announce that US

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education economies will become the

country's new central bank governor.

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He has served as deputy governor of

the People's Bank of China since

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2008 and is set to replace the

current leader, who has held the

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role the 15 years. This is a look at

what else we can expect on the

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business calendar. The US central

bank kicks off its two-day meeting.

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High expectations Jerome Powell hike

the cost of borrowing at its first

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meeting as the Federal reserve

chief. On Thursday, full-year

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numbers from China Mobile, the world

's largest telecommunications

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company. And also, Nikkei will be

posting its third-quarter numbers --

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Nike. Currently it is a down day for

the Asian stock market. The Nikkei

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to 25, -- to 25 is down.

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Thank you so

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