08/03/2013 World Business Report

Americans. Sulaiman Abu Ghaith - who is a son-in-law of the late al

who is a son-in-law of the late al who is a son-in-law of the late al

who is a son-in-law of the late al Qaeda leader - is due to appear in

Qaeda leader - is due to appear in Qaeda leader - is due to appear in

court in New York on Friday. court in New York on Friday.

court in New York on Friday. Those are the latest headlines from

Those are the latest headlines from Those are the latest headlines from

Those are the latest headlines from BBC World News. Now for the latest

BBC World News. Now for the latest BBC World News. Now for the latest

financial news with World Business How many jobs does it take to make

How many jobs does it take to make How many jobs does it take to make

a recovery? That's the question a recovery? That's the question

a recovery? That's the question being asked today as the world's

being asked today as the world's being asked today as the world's

biggest economy tells us how many biggest economy tells us how many

biggest economy tells us how many Americans found work in the month

of February. of February.

of February. And the world's factory floor

And the world's factory floor And the world's factory floor

continues churning out all that continues churning out all that

continues churning out all that stuff we love to buy. China's

stuff we love to buy. China's exports surged last month,

exports surged last month, exports surged last month,

suggesting things are picking up suggesting things are picking up

Welcome to World Business Report. Welcome to World Business Report.

Welcome to World Business Report. Welcome to World Business Report.

Our top stories of the day in four Our top stories of the day in four

Our top stories of the day in four of the world's biggest and second-

of the world's biggest and second- of the world's biggest and second-

biggest economy. We start with biggest economy. We start with

biggest economy. We start with number one. The US recovery is

number one. The US recovery is number one. The US recovery is

underway, but some suggest too underway, but some suggest too

underway, but some suggest too underway, but some suggest too

slowly to create the jobs that are slowly to create the jobs that are

slowly to create the jobs that are needed. Analysts expect the latest

needed. Analysts expect the latest needed. Analysts expect the latest

needed. Analysts expect the latest jobs data to show that the economy

jobs data to show that the economy jobs data to show that the economy

added 152,000 jobs, and the added 152,000 jobs, and the

added 152,000 jobs, and the unemployment rate dipped to 7.8%

unemployment rate dipped to 7.8% One reason it's taking so long -

One reason it's taking so long - One reason it's taking so long -

consumers have little spare cash to consumers have little spare cash to

consumers have little spare cash to consumers have little spare cash to

spend, thanks in part to the tax spend, thanks in part to the tax

spend, thanks in part to the tax spend, thanks in part to the tax

rises at the start of the year. rises at the start of the year.

rises at the start of the year. Michelle Fleury reports on the

Michelle Fleury reports on the Michelle Fleury reports on the

This family returns home at the end This family returns home at the end

This family returns home at the end of another school day. She rarely

of another school day. She rarely of another school day. She rarely

of another school day. She rarely gets the chance to the -- rest

gets the chance to the -- rest gets the chance to the -- rest

during the week. As a school during the week. As a school

during the week. As a school during the week. As a school

teacher, she has taken up a second teacher, she has taken up a second

teacher, she has taken up a second teacher, she has taken up a second

job in the evenings to boos To job in the evenings to boos To

job in the evenings to boos To income. -- income. Her pay cheque

income. -- income. Her pay cheque income. -- income. Her pay cheque

is getting smaller and smaller. is getting smaller and smaller.

is getting smaller and smaller. What three children to raise, each

What three children to raise, each What three children to raise, each

new poet -- purchase is carefully new poet -- purchase is carefully

new poet -- purchase is carefully considered. This year, it is about

considered. This year, it is about considered. This year, it is about

considered. This year, it is about how we're going to make it. I get

how we're going to make it. I get how we're going to make it. I get

how we're going to make it. I get very scared at one end here at the

very scared at one end here at the very scared at one end here at the

things on the news about the things on the news about the

things on the news about the potential for things getting worse.

potential for things getting worse. potential for things getting worse.

potential for things getting worse. The bills keep piling up. A 2% hike

The bills keep piling up. A 2% hike The bills keep piling up. A 2% hike

The bills keep piling up. A 2% hike on the tax has made the family

on the tax has made the family on the tax has made the family

on the tax has made the family budget that much tighter. We as a

budget that much tighter. We as a budget that much tighter. We as a

budget that much tighter. We as a result of a fiscal cliff deal at

result of a fiscal cliff deal at result of a fiscal cliff deal at

result of a fiscal cliff deal at the start of this year which led to

the start of this year which led to the start of this year which led to

higher taxes, many Americans may higher taxes, many Americans may

higher taxes, many Americans may have voters in their payslips

have voters in their payslips have voters in their payslips

debris and getting a little bit debris and getting a little bit

debris and getting a little bit less each month. For a household

less each month. For a household less each month. For a household

making $50,000 a year, that means making $50,000 a year, that means

making $50,000 a year, that means about $3,000 less to spend. That

about $3,000 less to spend. That about $3,000 less to spend. That

about $3,000 less to spend. That tax cuts, in judges to help the

tax cuts, in judges to help the tax cuts, in judges to help the

economy, rang out injury. -- ran economy, rang out injury. -- ran

economy, rang out injury. -- ran economy, rang out injury. -- ran

out in January it. Already US seen out in January it. Already US seen

out in January it. Already US seen newspaper reports of sales falling

newspaper reports of sales falling newspaper reports of sales falling

newspaper reports of sales falling off big chains. It would not take

off big chains. It would not take off big chains. It would not take

off big chains. It would not take long for that to show up in the

long for that to show up in the long for that to show up in the

data on spending. At this Forest, data on spending. At this Forest,

data on spending. At this Forest, they have already noticed a

they have already noticed a they have already noticed a

difference. There if your impulse difference. There if your impulse

difference. There if your impulse difference. There if your impulse

buys. That is having an impact on buys. That is having an impact on

buys. That is having an impact on hiring. We are very cautious about

hiring. We are very cautious about hiring. We are very cautious about

future hiring. Will grow more in future hiring. Will grow more in

future hiring. Will grow more in the direction of part-time. During

the direction of part-time. During the direction of part-time. During

the slow at times, we will have the slow at times, we will have

the slow at times, we will have less personal. For this woman,

less personal. For this woman, less personal. For this woman,

better days maybe around the corner. better days maybe around the corner.

better days maybe around the corner. There are signs that the recovery

There are signs that the recovery There are signs that the recovery

starting so brilliant. On the starting so brilliant. On the

starting so brilliant. On the markets. But with unemployment

markets. But with unemployment markets. But with unemployment

still high, not everything is still high, not everything is

As soon as those numbers are out, a As soon as those numbers are out, a

As soon as those numbers are out, a breeze will bring them to you.

breeze will bring them to you. breeze will bring them to you.

breeze will bring them to you. breeze will bring them to you.

-- or we will bring in them to you. -- or we will bring in them to you.

-- or we will bring in them to you. Chinese exports rose by more-than-

Chinese exports rose by more-than- Chinese exports rose by more-than-

expected in February on strong expected in February on strong

expected in February on strong demand, adding to signs of recovery

demand, adding to signs of recovery demand, adding to signs of recovery

in the Chinese economy. Shipments in the Chinese economy. Shipments

in the Chinese economy. Shipments were 21.8% higher than a year

were 21.8% higher than a year earlier, while imports declined

earlier, while imports declined earlier, while imports declined

15.2%, resulting in a surprise 15.2%, resulting in a surprise

15.2%, resulting in a surprise trade surplus of $15.3 billion,

trade surplus of $15.3 billion, trade surplus of $15.3 billion,

data showed. But the experts warn data showed. But the experts warn

data showed. But the experts warn data showed. But the experts warn

the figures could be skewed due to the figures could be skewed due to

the figures could be skewed due to Lunar New Year holidays because

Lunar New Year holidays because Lunar New Year holidays because

Lunar New Year holidays because over the past couple of years we

over the past couple of years we over the past couple of years we

know that demand for goods from know that demand for goods from

know that demand for goods from China has dropped as key markets,

China has dropped as key markets, China has dropped as key markets,

China has dropped as key markets, such as the US and Europe, suffer

The deputy director of China The deputy director of China

The deputy director of China Forecasting Service joins me now

Forecasting Service joins me now T think these numbers are skewed by

T think these numbers are skewed by T think these numbers are skewed by

T think these numbers are skewed by the lunar new year holiday? Or are

the lunar new year holiday? Or are the lunar new year holiday? Or are

they suggesting demand around the they suggesting demand around the

they suggesting demand around the world is picking up? Chinese New

world is picking up? Chinese New world is picking up? Chinese New

world is picking up? Chinese New Year is a factor. Even though this

Year is a factor. Even though this Year is a factor. Even though this

Year is a factor. Even though this is a fact that many analysts were

is a fact that many analysts were is a fact that many analysts were

looking into, the numbers still looking into, the numbers still

looking into, the numbers still looking into, the numbers still

come as a surprise. As Nurse -- as come as a surprise. As Nurse -- as

come as a surprise. As Nurse -- as come as a surprise. As Nurse -- as

much as I would like to emphasise much as I would like to emphasise

much as I would like to emphasise much as I would like to emphasise

how volatile it years, even if you how volatile it years, even if you

how volatile it years, even if you considered the New Year effect, the

considered the New Year effect, the considered the New Year effect, the

combination of the numbers, it is combination of the numbers, it is

combination of the numbers, it is still pretty high. We are looking

still pretty high. We are looking still pretty high. We are looking

still pretty high. We are looking at a combined 23% growth. That is

at a combined 23% growth. That is at a combined 23% growth. That is

pretty clear bad the European and pretty clear bad the European and

pretty clear bad the European and US markets are bringing good news

US markets are bringing good news US markets are bringing good news

to China from that front. The to China from that front. The

eurozone had successfully backed eurozone had successfully backed

eurozone had successfully backed eurozone had successfully backed

away from a break-up. For the US, away from a break-up. For the US,

away from a break-up. For the US, data suggests the housing market

and the job market are at their and the job market are at their

strongest levels in recent years. strongest levels in recent years.

strongest levels in recent years. strongest levels in recent years.

At the same time, the statistics of At the same time, the statistics of

At the same time, the statistics of emerging markets are looking very

emerging markets are looking very emerging markets are looking very

emerging markets are looking very good as well. Bilateral trade at a

good as well. Bilateral trade at a good as well. Bilateral trade at a

Hong Kong rose 58%. Exports to Hong Kong rose 58%. Exports to

Hong Kong rose 58%. Exports to South Africa it rose by 62%. These

South Africa it rose by 62%. These South Africa it rose by 62%. These

are pleasing numbers. Let me ask are pleasing numbers. Let me ask

are pleasing numbers. Let me ask you about imports. Beijing has been

you about imports. Beijing has been you about imports. Beijing has been

trying to become less dependent on trying to become less dependent on

trying to become less dependent on trying to become less dependent on

its exports and get the consumer to its exports and get the consumer to

its exports and get the consumer to its exports and get the consumer to

spend an Brian Moore. We saw a drop spend an Brian Moore. We saw a drop

spend an Brian Moore. We saw a drop in imports. Does that suggest the

in imports. Does that suggest the in imports. Does that suggest the

in imports. Does that suggest the focus is not working? First of all,

focus is not working? First of all, focus is not working? First of all,

focus is not working? First of all, data can be very volatile. This was

data can be very volatile. This was data can be very volatile. This was

data can be very volatile. This was the mother of the Chinese new year

the mother of the Chinese new year the mother of the Chinese new year

the mother of the Chinese new year effect. The number is no would then

effect. The number is no would then effect. The number is no would then

be expected. Usually, the import be expected. Usually, the import

be expected. Usually, the import numbers and export numbers are in

numbers and export numbers are in numbers and export numbers are in

line with each other. A large line with each other. A large

line with each other. A large proportion of the import come in

proportion of the import come in for reassembling before becoming

for reassembling before becoming for reassembling before becoming

exports again. China has ship exports again. China has ship

exports again. China has ship itself away from being an export

itself away from being an export injured -- export-driven economy.

injured -- export-driven economy. injured -- export-driven economy.

Were the kind government needs and Were the kind government needs and

Were the kind government needs and what they are actually working on,

what they are actually working on, what they are actually working on,

what they are actually working on, as he said, is focusing on a much

as he said, is focusing on a much as he said, is focusing on a much

more consumption at driven economy more consumption at driven economy

more consumption at driven economy structure. That is happening. The

structure. That is happening. The structure. That is happening. The

government is trying to raise government is trying to raise

government is trying to raise and more comprehensive social

and more comprehensive social Friday is International Women's Day

Friday is International Women's Day Friday is International Women's Day

Friday is International Women's Day and as part of our series looking

and as part of our series looking and as part of our series looking

and as part of our series looking at the future - DeeDee Myers, who

at the future - DeeDee Myers, who at the future - DeeDee Myers, who

was the first female White House was the first female White House

Press Secretary, has been Press Secretary, has been

Press Secretary, has been interviewing some of the most

interviewing some of the most interviewing some of the most

interviewing some of the most powerful women in the world to ask

powerful women in the world to ask powerful women in the world to ask

what would be different if women what would be different if women

what would be different if women what would be different if women

ruled the world. We can see the ruled the world. We can see the

full programme this weekend. Here she

she asks

full programme this weekend. Here she asks the

she asks the managing

full programme this weekend. Here she asks the managing director

she asks the managing director of

she asks the managing director of the

the International

she asks the managing director of the Interna? I the Interna

the International Monetary Fund,

the International Monetary Fund, Christine

Christine Lagarde

the International Monetary Fund, Christine Lagarde if

Christine Lagarde if the

the International Monetary Fund, Christine Lagarde if the financial

Christine Lagarde if the financial crisis

crisis could

Christine Lagarde if the financial crisis could have

crisis could have been

Christine Lagarde if the financial crisis could have been avoided

crisis could have been avoided if

crisis could have been avoided if

women had

crisis could have been avoided if women had been

women had been in

crisis could have been avoided if women had been in charge.

women had been in charge. The

women had been in charge. crisis

crisis may

women had been in charge. crisis may have

crisis may have been

women had been in charge. crisis may have been avoided,

crisis may have been avoided, but

crisis may have been avoided, but certainly

certainly would

crisis may have been avoided, but certainly would have

certainly would have been

crisis may have been avoided, but certainly would have been different.

certainly would have been different. I

I think

certainly would have been different. I think women

I think women tend

certainly would have been different. I think women tend to

I think women tend to have

certainly would have been different. I think women tend to have an

I think women tend to have an acute

I think women tend to have an acute sense

sense of

I think women tend to have an acute sense of risks.

sense of risks. Where

I think women tend to have an acute sense of risks. Where are

sense of risks. Where are the

sense of risks. Where are the risks?

risks? How

sense of risks. Where are the risks? How can

risks? How can they

sense of risks. Where are the risks? How can they be

risks? How can they be assessed?

risks? How can they be assessed? How

How can

risks? How can they be assessed? How can day

How can day be

risks? How can they be assessed? How can day be prevented?

How can day be prevented? I

risks? How can they be assessed? How can day be prevented? I am

How can day be prevented? I am always

always cautious

How can day be prevented? I am always cautious about

always cautious about over

always cautious about over generalising.

generalising. But

always cautious about over generalising. But I

generalising. But I think

always cautious about over generalising. But I think it

generalising. But I think it is

always cautious about over generalising. But I think it is a

generalising. But I think it is a fact

fact that

generalising. But I think it is a fact that is

fact that is more

generalising. But I think it is a fact that is more and

fact that is more and more

fact that is more and more empirically

empirically demonstrated.

fact that is more and more empirically demonstrated. Be

empirically demonstrated. Be risk-

empirically demonstrated. Be risk- taking

taking profile

empirically demonstrated. Be risk- taking profile of

taking profile of women

empirically demonstrated. Be risk- taking profile of women is

taking profile of women is different

different from

different from men.

different from men. In

different from men. In that sense, different from men. In that sense,

different from men. In that sense, the crisis would have been

the crisis would have been the crisis would have been

different. What will change if women ruled the world? My hope is

women ruled the world? My hope is women ruled the world? My hope is

that it would be better balanced. that it would be better balanced.

that it would be better balanced. Because the group would be better

Because the group would be better Because the group would be better

balanced. My hope is that there balanced. My hope is that there

balanced. My hope is that there will be more focus and concern

will be more focus and concern will be more focus and concern

about education and health. They about education and health. They

about education and health. They generally come as parities for

generally come as parities for generally come as parities for

generally come as parities for women, more then men. My hope is

there will be more peace. We bear there will be more peace. We bear

there will be more peace. We bear children. I think the thoughts of

children. I think the thoughts of taking them to walk is something

taking them to walk is something taking them to walk is something

bed is more frightening to mothers bed is more frightening to mothers

and fathers, for some strange and fathers, for some strange

and fathers, for some strange and fathers, for some strange

reason. -- wore. My hope is that we reason. -- wore. My hope is that we

reason. -- wore. My hope is that we will be more inclusive because we

will be more inclusive because we had been excluded for such a long