0:00:06 > 0:00:11This is Business Live from BBC News, I'm Alice Baxter in London.
0:00:12 > 0:00:22And I'm Sally Bundock in Davos at the World Economic Forum.
0:00:22 > 0:00:28Today the President takes the podium. He will be delivering his
0:00:28 > 0:00:31message about America first. But how will it go down with the 3000
0:00:31 > 0:00:35delegates. Live from London and Davos that's
0:00:35 > 0:00:41our top story on Friday 26th of January.
0:00:49 > 0:00:55The US President was wooing bosses of the world's biggest companies
0:00:55 > 0:00:57over dinner last night but will his speech be a receipe
0:00:57 > 0:00:59for more investment?
0:00:59 > 0:01:03Also in the programme:
0:01:03 > 0:01:06Both the UK and the US give us their latest economic
0:01:06 > 0:01:08growth numbers today, we'll look at what we
0:01:08 > 0:01:13can expect to see.
0:01:13 > 0:01:17Keeping across the latest market action, in Europe they have opened
0:01:17 > 0:01:20up mixed, over in Asia we saw stocks extend their winning run on Friday,
0:01:20 > 0:01:24and also it was a similar story on Wall Street with a record closing
0:01:24 > 0:01:32high. We will get the inside track on brand Trump. As the White House
0:01:32 > 0:01:37hijacked the media coverage of this year's World Economic Forum? I will
0:01:37 > 0:01:41talk to the global Chief Executive of the media and advertising agency
0:01:41 > 0:01:44Dentsu Aegis.
0:01:51 > 0:01:53Hello and welcome to Business Live.
0:01:53 > 0:01:56In just a few hours' time the World Economic Forum in Davos
0:01:56 > 0:02:05will hear the speech they've been waiting all week for.
0:02:05 > 0:02:09The US President Donald Trump is expected to repeat his call
0:02:09 > 0:02:11for an America First approach to international trade and call
0:02:11 > 0:02:13on businesses to invest more in his country.
0:02:13 > 0:02:16Many of them will be concerned about the rise of protectionism.
0:02:16 > 0:02:18But the Trump administration says they shouldn't be.
0:02:18 > 0:02:21In the words of senior White House economic advisor Gary Cohn: "America
0:02:21 > 0:02:25first is not America alone".
0:02:25 > 0:02:28And as the world's biggest economy picked up last year so did
0:02:28 > 0:02:31the rest of the world.
0:02:31 > 0:02:34The International Monetary Fund thinks global growth
0:02:34 > 0:02:37jumped to 3.7% last year - and will do even better this year -
0:02:37 > 0:02:45partly because of President Trump's tax cuts.
0:02:45 > 0:02:48However, last year, as talk of protectionism grew,
0:02:48 > 0:02:51the world saw a 16% fall in foreign direct investment, that's
0:02:51 > 0:02:53when companies invest their money in foreign countries.
0:02:53 > 0:03:00In North America the fall was even bigger at 33%.
0:03:00 > 0:03:03Despite that - the US was still the most popular
0:03:03 > 0:03:05country to invest in - attracting more than $300
0:03:05 > 0:03:12billion from abroad.
0:03:12 > 0:03:19Sally, over to you. Thank you, Alice. It's been the talk
0:03:19 > 0:03:22of the week, the fact the President of the United States has come here
0:03:22 > 0:03:25and he has come here with the biggest delegation of any US
0:03:25 > 0:03:31President prior to this year at the World Economic Forum. They have all
0:03:31 > 0:03:33come on message. They are all talking the talk and they are all
0:03:33 > 0:03:39making sure that we in the media are getting it very loud and very clear.
0:03:39 > 0:03:43Well, my colleague here, Kamal Ahmed, economics editor, has been
0:03:43 > 0:03:48talking to all sorts of people at the World Economic Forum, among them
0:03:48 > 0:03:51Larry Fink, Chief Executive of the investment management firm Black
0:03:51 > 0:03:57Rock, and they did discuss Donald Trump's presence here. Let's listen
0:03:57 > 0:04:00to what he had to say.
0:04:00 > 0:04:03I think he's been good for the US economy and therefore it's been good
0:04:03 > 0:04:04for the global economy.
0:04:04 > 0:04:09I may disagree with many things he has
0:04:09 > 0:04:12said and does but unquestionably the tax reform is going
0:04:12 > 0:04:13to add, you know, at
0:04:13 > 0:04:15least nine tenths of GDP to the US economy.
0:04:15 > 0:04:18Some of the deregulation that he has done has created less
0:04:18 > 0:04:22burden on companies and companies have been able to do more things.
0:04:22 > 0:04:25Do you worry about some of the more protectionist noises that are coming
0:04:25 > 0:04:30from the American administration, including the President?
0:04:30 > 0:04:32Is that a concern when you have also got here
0:04:32 > 0:04:34the leaders talking about globalisation and the need for
0:04:34 > 0:04:41multilateralism?
0:04:41 > 0:04:43So, I'm under the belief that globalisation has been
0:04:43 > 0:04:45good for more human beings than ever before.
0:04:45 > 0:04:48That does not mean that people have not been left behind in
0:04:48 > 0:04:50the UK, or left behind in the US.
0:04:50 > 0:04:53For some of them, globalisation has not been good.
0:04:53 > 0:04:56I think this is why we had Brexit, I think this is why
0:04:56 > 0:04:58we have had the election of Donald Trump.
0:04:58 > 0:05:00Donald Trump understood the fears and needs of people.
0:05:00 > 0:05:02Do you hope for a more conciliatory tone
0:05:02 > 0:05:04from the President when he speaks on Friday?
0:05:04 > 0:05:05I'm not anticipating that.
0:05:05 > 0:05:13But hopefully he surprises me.
0:05:13 > 0:05:16I think the President believes he has
0:05:16 > 0:05:23a mission to make America great again and I think, you know, if you
0:05:23 > 0:05:26look at all of his behaviours, he's trying to execute on that.
0:05:26 > 0:05:28Whether I agree or disagree he is trying to
0:05:28 > 0:05:31execute on that.
0:05:31 > 0:05:38That's Larry Fink, the global Chief Executive of Black Rock. Kamal is
0:05:38 > 0:05:41here. It's interesting, almost as if you didn't know how to answer that
0:05:41 > 0:05:45question, he had to think about what to say.Interesting talking to
0:05:45 > 0:05:51business leaders here, a lot of people last year when Chinese
0:05:51 > 0:05:58premier Xi Jinping was here were very nervous about Donald Trump when
0:05:58 > 0:06:03he had just won. Was he going to push through tax or regulation? This
0:06:03 > 0:06:07year the feeling is similar to Larry Fink's tone, the economy has been
0:06:07 > 0:06:10boosted, tax reforms have been passed, the regulation reforms are
0:06:10 > 0:06:14going through the system and the whole global economy is starting to
0:06:14 > 0:06:18grow more quickly. So, for someone like Larry Fink and my colleague
0:06:18 > 0:06:24Simon Jack who interviewed Lord Black fine, the head of Goldman
0:06:24 > 0:06:29Sachs, they are saying you may not agree with all of the politics and
0:06:29 > 0:06:32controversy but when it comes to the brute economics President Trump has
0:06:32 > 0:06:36been pretty good for these people. Let's bring in one of our other
0:06:36 > 0:06:37colleagues.
0:06:37 > 0:06:40Karishma Vaswani joins us from Singapore.
0:06:40 > 0:06:43The reason I bring you in is because I know you're listening to Kamal
0:06:43 > 0:06:50Ahmed and myself and Larry Fink, but where you are its a totally
0:06:50 > 0:06:53different story, the tariffs on steel products in Asia coming from
0:06:53 > 0:06:57the White House and the counter response from South Korea.Indeed,
0:06:57 > 0:07:01Sally, and all of this has to do with exactly what you and Kamal
0:07:01 > 0:07:06Ahmed have been talking about, the comments we expect to hear in this
0:07:06 > 0:07:10speech from Donald Trump in a few hours' time, everyone in Asia is
0:07:10 > 0:07:14waiting to see whether he makes good on this America first policy. Wheel
0:07:14 > 0:07:19that is or what appears to be the first salvo in that policy, the
0:07:19 > 0:07:31tariffs you were talking about earlier, Beijing and
0:07:31 > 0:07:36South Korea. Many factories in Malaysia and other parts of Asia
0:07:36 > 0:07:40have also been complaining about these tariffs because they make
0:07:40 > 0:07:46products that are assembled in China and sold to the United States so
0:07:46 > 0:07:49with this official line is coming out of Beijing there is a great deal
0:07:49 > 0:07:53of concern in this part of the world about what Donald Trump will say and
0:07:53 > 0:08:01we will have to wait and see for another few hours from now.Thanks a
0:08:01 > 0:08:06lot, Karishma Vaswani. If I can bring Kamal Ahmed back in, the
0:08:06 > 0:08:11conversations have been about a smarter way of doing trade, a
0:08:11 > 0:08:15different way, the old system not working as well, many in the world
0:08:15 > 0:08:21not feeling the benefit as it were. All of this global growth, and yet
0:08:21 > 0:08:25Donald Trump talking about America first, but that being a benefit to
0:08:25 > 0:08:29the world. It's an interesting conversation going on.It is
0:08:29 > 0:08:33slightly more nuanced than maybe this notion that America is
0:08:33 > 0:08:37protectionist. As you said he has a big entourage, he has Steven
0:08:37 > 0:08:40Mnuchin, the Treasury Secretary and Wilbur Ross, the commerce secretary,
0:08:40 > 0:08:43and I spoke to them at their press conference yesterday and they said
0:08:43 > 0:08:47it's not about protectionism or a trade war, is about rebalancing
0:08:47 > 0:08:52trade. He says that trade has been too asymmetric the way it has
0:08:52 > 0:08:55worked, so the disadvantage of America, he is saying I want more of
0:08:55 > 0:09:00a level playing field and that's what they are fighting for. The
0:09:00 > 0:09:04message today from Donald Trump when he speaks later at lunchtime will
0:09:04 > 0:09:08be, look, this can help everybody, let's have fairer trade, not trade
0:09:08 > 0:09:12wars, but some of that will mean extra trade tariffs and that's where
0:09:12 > 0:09:16the controversy comes.Kamal Ahmed, thank you. We are going to let you
0:09:16 > 0:09:23go, he has an extremely busy day ahead. Back to you, Alice, in the
0:09:23 > 0:09:33studio. Thank you, Sally, and your guests Kamal Ahmed and Karishma.
0:09:33 > 0:09:36Let's take a look at some of the other stories making the news.
0:09:36 > 0:09:39Smartphone sales have fallen in China for the first time ever,
0:09:39 > 0:09:42according to analysts who say 450 million devices were sold last year,
0:09:42 > 0:09:544% less than in 2016. Oppo and Vivo were the biggest losers but Huawei
0:09:54 > 0:10:00has the biggest quarter in its home market.
0:10:00 > 0:10:10The computing giant Intel says it sales hit grew 9% last year to hit
0:10:10 > 0:10:12a record $62.8 billion thanks to strong sales
0:10:12 > 0:10:13of chips to data centres.
0:10:13 > 0:10:16It's a key growth area as it moves away from the declining PC industry.
0:10:16 > 0:10:19The company also benefitted from President Trump's tax reforms
0:10:19 > 0:10:21but warned that it will be negatively impacted by the two major
0:10:21 > 0:10:23computer chips flaws that were recently uncovered
0:10:23 > 0:10:27in many of its products.
0:10:27 > 0:10:32Starbucks shares fell 5% on Thursday after the coffee chain's first
0:10:32 > 0:10:34quarter earnings missed analysts expectations - for the fifth
0:10:34 > 0:10:35quarter in a row.
0:10:35 > 0:10:37Starbuck's global same-store sales rose 2% in the quarter
0:10:37 > 0:10:38against forecasts of 3%.
0:10:38 > 0:10:45On the upside, growth in China was robust - it rose to 6%.
0:10:48 > 0:10:54Let's look and see what is happening on the markets. Stocks in Asia
0:10:54 > 0:10:57extended their winning run to an 11th day on Friday, the longest
0:10:57 > 0:11:02winning streak we have seen their Sims 2015. However, Japan's Nikkei
0:11:02 > 0:11:08bucked the trend to end the session down 0.2%. -- since 2015.
0:11:08 > 0:11:11World equity markets have rallied over the past year,
0:11:11 > 0:11:14buoyed by a synchronised uptick in global economic growth in a boon
0:11:14 > 0:11:18to corporate profits and stock valuations.
0:11:18 > 0:11:21The Dow and SNP 500 ended
0:11:21 > 0:11:23at their highest closing levels ever on Thursday,
0:11:23 > 0:11:25although Wall Street relinquished bigger intraday gains
0:11:25 > 0:11:27after President Trump's strong dollar comments.
0:11:27 > 0:11:31They also helped the battered US currency win back some ground.
0:11:31 > 0:11:35The greenback had sunk to a three-year low on Thursday.
0:11:35 > 0:11:44Here in Europe we've seen markets open higher.
0:11:44 > 0:11:48Mostly in London and Frankfurt. In France they were slightly down but
0:11:48 > 0:11:50they have recovered now.
0:11:50 > 0:11:55In London the the pound has also inched some 0.5% higher at $1.42
0:11:55 > 0:11:57following its ascent to a one and a half year high
0:11:57 > 0:11:58the previous day.
0:11:58 > 0:12:03One company on Wall Street that will be in focus today is Boeing because
0:12:03 > 0:12:07the plane maker expects to hear a final decision from the US on its
0:12:07 > 0:12:11trade with Canadian rival Bombardier. Samira Hussain has the
0:12:11 > 0:12:16details on this. This jet is the pride of Bombardier's fleet and the
0:12:16 > 0:12:19source of one of the most bitter trade disputes between Canada and
0:12:19 > 0:12:24the United States in recent memory. These workers in Northern Ireland
0:12:24 > 0:12:34could end up paying the price. Big orders of Bombardier's C series
0:12:34 > 0:12:38planes from American buyers prompted cries of unfair competition from US
0:12:38 > 0:12:44plane making giant Boeing. Last year the US commerce Department slapped
0:12:44 > 0:12:50tariffs of almost 300% on any C series plane coming into the US are
0:12:50 > 0:12:55basically blocking the fleet from the American market. Bombardier took
0:12:55 > 0:12:57their complaints to the International Trade Commission,
0:12:57 > 0:13:03which will make its ruling Friday. It's why both UK Prime Minister
0:13:03 > 0:13:07Theresa May and Canadian Prime Minister Justin Trudeau have spoken
0:13:07 > 0:13:12personally with US President Donald Trump about this dispute. And all of
0:13:12 > 0:13:17this comes as both the UK and Canada have an eye on negotiating good
0:13:17 > 0:13:23trade deals with the United States. But this dispute about Bombardier
0:13:23 > 0:13:28could be a sign that easy trade relations with the Trump
0:13:28 > 0:13:32administration is anything but certain. Samira Hussain, BBC News,
0:13:32 > 0:13:38New York. Joining me in the studio is Richard Hunter, head of markets
0:13:38 > 0:13:46at Into -- Interactive Investor. This Bombardier argument has been
0:13:46 > 0:13:51around for awhile, what the it is a politically charged situation, the
0:13:51 > 0:13:55US and Canada are having trade talks anyway, so this is kind of a poster
0:13:55 > 0:13:59child for what is going on there. And at the same time we have just
0:13:59 > 0:14:03seen the recent love in between Theresa May at Trump in Davos,
0:14:03 > 0:14:07needless to say there is a potential impact on jobs in Northern Ireland
0:14:07 > 0:14:12in terms of the aircraft building. So it's a very interesting one and
0:14:12 > 0:14:17it seems the Canadians are saying because this is US jurisdiction we
0:14:17 > 0:14:22are not expecting to win but we will find a very shortly.Interesting. I
0:14:22 > 0:14:27think Sally has a question for us from Davos.I have indeed. It's
0:14:27 > 0:14:32looking very cosy in that studio. Nice to see you, Richard. It's
0:14:32 > 0:14:36chilly at the World Economic Forum but it's going together reheated
0:14:36 > 0:14:39later, I'm sure, when President Trump starts to speak. Richard, I
0:14:39 > 0:14:42want to ask about some of the economic news coming out today, US
0:14:42 > 0:14:47and UK growth figures, the talk all week is about the fact global growth
0:14:47 > 0:14:52is going gung ho. What began hear later?
0:14:52 > 0:14:56There to say that in terms of the US, sweet start at the moment, loose
0:14:56 > 0:15:00monetary policy unquestioned global growth of which the US is taking
0:15:00 > 0:15:08part, and also, we have that feeding through, as we have heard, to the
0:15:08 > 0:15:12markets, particularly in the States, described as the Goldilocks economy,
0:15:12 > 0:15:16not too hot, not too cold, but little doubt that in challenging
0:15:16 > 0:15:20economic cycles, the US is nearer to the end, the next year or so is
0:15:20 > 0:15:25going to be interesting. In terms of the UK, doing OK, doing better than
0:15:25 > 0:15:29some have suggested after the referendum result. By the same
0:15:29 > 0:15:34token, it is also fair to say that while we are seeing growth in the
0:15:34 > 0:15:37UK, probably not at the sort of level we would otherwise have seen
0:15:37 > 0:15:43without the Brexit vote.The proof will be in the pudding, we will get
0:15:43 > 0:15:53the fourth quarter estimate in a little under an hour's time.
0:15:53 > 0:15:56Still to come:
0:15:56 > 0:16:00President stay on the podium, he delivers his America first message
0:16:00 > 0:16:05and encourages global companies to invest in the US. We are all waiting
0:16:05 > 0:16:07for it.
0:16:07 > 0:16:17You're with Business Live from BBC News.
0:16:19 > 0:16:23As your car ever been damaged after you have hit a pothole on the road,
0:16:23 > 0:16:28it has happened to more and more of us according to the RAC, they have
0:16:28 > 0:16:35released a report showing a jump in call-outs due to poor road surfaces.
0:16:35 > 0:16:40Who is responsible for this, whose responsibility is it to fix
0:16:40 > 0:16:44potholes?Depends where they really are, so, if you find them in things
0:16:44 > 0:16:48like motorways or major roads, then it is the responsibility of people
0:16:48 > 0:16:53like highways England and traffic Scotland but, if as many of us do
0:16:53 > 0:16:56travel on local roads, where most journeys begin or end, that is the
0:16:56 > 0:17:00responsibility of local councils and here is where the big problem lies,
0:17:00 > 0:17:06because although that makes up 98% of the road network, about one 50th
0:17:06 > 0:17:12of the total money spent on road repairs is actually on those roads.
0:17:12 > 0:17:15Local councils have a big job on their hands. They feel in 2 million
0:17:15 > 0:17:19potholes a year, but they say that cost them 4.4 billion last year but
0:17:19 > 0:17:24they say that they would need about three times that amount in order to
0:17:24 > 0:17:28just clear the current backlog they have, let alone be able to spot
0:17:28 > 0:17:31problems as they appear in the future.Interesting, you have been
0:17:31 > 0:17:37out and about in Essex, they are trialling a pothole stop the scheme,
0:17:37 > 0:17:41what can you tell is about that?I have been hanging out with Eddie the
0:17:41 > 0:17:46bin man in Essex, as he did his rounds, this may seem crazy but it
0:17:46 > 0:17:52is the new front line on the war on potholes, in Essex, in Thurrock,
0:17:52 > 0:17:56they have cameras on top of the bin lorries, they take in every metre or
0:17:56 > 0:18:00so of the road and are therefore able to send data back to engineers
0:18:00 > 0:18:04to have a look at and see where potholes are developing, where there
0:18:04 > 0:18:07are already problems. This is happening not just in Thurrock but
0:18:07 > 0:18:11also in York, on buses, and Wiltshire, they have a electric bike
0:18:11 > 0:18:16's. They are hoping to cover a large part of the road network, and be
0:18:16 > 0:18:21able to see whether or not this is possible. Quite a lot going on. The
0:18:21 > 0:18:31study is funded by the DST, a quick look now to see what is on
0:18:31 > 0:18:34the BBC website, on the BBC live page, a lot on Davos, extended
0:18:34 > 0:18:38versions of all the interviews we have been conducting with business
0:18:38 > 0:18:44leaders, and also this, Lloyd's wish list.
0:18:46 > 0:18:57Much more on the BBC website.
0:19:04 > 0:19:09Top story today: much anticipation here and in some quarters
0:19:09 > 0:19:13trepidation, US president takes the stage at the World Economic Forum in
0:19:13 > 0:19:18Davos, to deliver his America first message. We are all waiting for
0:19:18 > 0:19:30that. As are the markets.
0:19:37 > 0:19:43Pound, Stirling, holding strong at $1 42.
0:19:48 > 0:19:54Let's discuss the day ahead in a bit more detail. One thing that has
0:19:54 > 0:19:59happened for sure, the US president and his team have dominated the
0:19:59 > 0:20:01airwaves in terms of the conversations taking place in the
0:20:01 > 0:20:08media about this year's World Economic Forum. Just to talk through
0:20:08 > 0:20:14the management of the message as it were, I'm joined by Jerry Bullman,
0:20:14 > 0:20:19global Chief Executive of the advertising and media group, Dentsu
0:20:19 > 0:20:26Aegis. Good to have you here. What is your take on Brand Trump and its
0:20:26 > 0:20:30dominance this week? -- Jerry Buhlmann.Like any brand, what it
0:20:30 > 0:20:33needs to do using gate with its audience, he has created an
0:20:33 > 0:20:38environment where for the whole week, everyone has been talking
0:20:38 > 0:20:41about him coming, and on Friday he has given himself the last word,
0:20:41 > 0:20:45that shows the way he thinks about things. There is some nuance to
0:20:45 > 0:20:50brand from as well, clearly, we know the America first edition in. --
0:20:50 > 0:20:56brand Trump. He is now preaching engagement on a global stage.
0:20:56 > 0:21:00America first, but engaging with the world, that is a nuance on
0:21:00 > 0:21:04developing what is brand is and giving his brand some primacy in the
0:21:04 > 0:21:08context of Davos.Is this a good thing or a bad thing for the World
0:21:08 > 0:21:12Economic Forum, many are saying, actually, this is all about
0:21:12 > 0:21:20everybody being here and being given a chance, including the Americans.
0:21:20 > 0:21:23Five out of the top seven leaders of the world have been here this week,
0:21:23 > 0:21:26that is a level of political engagement we have not seen in Davos
0:21:26 > 0:21:31for many years, British Prime Minister Theresa May was here, we
0:21:31 > 0:21:42saw a manual mock rock and Modi, a great deal of engagement between
0:21:42 > 0:21:47politicians and academics. It is a good sign.Another big discussion
0:21:47 > 0:21:53has been all about the big tech names, Sheryl Sandberg is here,
0:21:53 > 0:22:01chief operating officer of bass book and Chief Executive of Microsoft,
0:22:01 > 0:22:05and a lot of discussion about the impact these companies are having on
0:22:05 > 0:22:11all of us. -- chief operating officer of Facebook. Also concerns
0:22:11 > 0:22:15about being too monopolistic, George saw Ross thought about that at his
0:22:15 > 0:22:20dinner, give us your take. Being in media and advertising, are they in a
0:22:20 > 0:22:24dangerous place. -- George Soros. The Digital economy is by far the
0:22:24 > 0:22:27biggest opportunity over the next five to ten years, the broad scope
0:22:27 > 0:22:32of things, a lot of these businesses have a massive amount of utility
0:22:32 > 0:22:36among consumers, we see the growth of e-commerce, the growth of
0:22:36 > 0:22:40smartphones, people accessing better, all of these businesses
0:22:40 > 0:22:46contribute significantly to that. We want a Brand safe environment for
0:22:46 > 0:22:53advertisers, which means we need one for consumers and people, and
0:22:53 > 0:23:01government is recognising there is issues in that regard. We have to
0:23:01 > 0:23:05ensure that we can capture the opportunities of the digital
0:23:05 > 0:23:08economy, in the broad scope, businesses will be here, some will
0:23:08 > 0:23:12be gone over the next five, ten, 20 years, we will still have a much
0:23:12 > 0:23:17more stable economy.Google and Facebook, between them, they
0:23:17 > 0:23:21dominate the advertising space in terms of where people are putting
0:23:21 > 0:23:27their ads, do you see that getting more or less in the near term?I
0:23:27 > 0:23:32think there is a lot of other players, Amazon are growing rapidly,
0:23:32 > 0:23:38and competing, but Alibaba Group, in China, and we have seen this between
0:23:38 > 0:23:44Google and 10c. There is more engagement, you will see more
0:23:44 > 0:23:53competition.Thank you very much for joining us. Interesting discussions
0:23:53 > 0:23:56going on, back to you. -- Tencent.
0:24:03 > 0:24:06All this week we have been asking about the issue of sexual harassment
0:24:06 > 0:24:19and unfair pay and how do you stamp it out?
0:24:22 > 0:24:26No more secrets, get it out on the table, let's come clean on the
0:24:26 > 0:24:29issues, move on, let's be inclusive for the future.The most important
0:24:29 > 0:24:34thing companies need to do is create a pure merit based environment so
0:24:34 > 0:24:37that the women get confidence that they will not be discriminated
0:24:37 > 0:24:43against just on the basis of gender. In China, most of us do not know
0:24:43 > 0:24:47what sexual harassment is, I think it is the company 's obligation to
0:24:47 > 0:24:51educate their employees, sexual harassment is wrong.It is critical
0:24:51 > 0:25:00to transform anger into action. And action has to start at the top.Some
0:25:00 > 0:25:02people have been badly intended but the real problem is people have
0:25:02 > 0:25:06missed things, and we have two miss less and be better observers of
0:25:06 > 0:25:10these things and spied these inequalities and discriminatory
0:25:10 > 0:25:15practices.Companies need to remember that women tend to be more
0:25:15 > 0:25:23modest, so they need to be lifted up, to grow in the rights of
0:25:23 > 0:25:27companies.It is very important companies create a culture where
0:25:27 > 0:25:31women feel welcome, safe and empowered.Give her the chance to
0:25:31 > 0:25:34study anything she wants.Business needs to recognise it is a real
0:25:34 > 0:25:39issue, talk about it and do something about it.
0:25:39 > 0:25:43Breadth of views there are, what is Friday got in store for Davos?Of
0:25:43 > 0:25:49course, the big event, we have talked about it, all about President
0:25:49 > 0:25:53Trump, but plenty of other events going on. The American delegation
0:25:53 > 0:25:57has been talking to the press yet again, and they are talking about
0:25:57 > 0:26:00keeping up to agreements and enforcing international trade
0:26:00 > 0:26:08standards, talking trade already.