09/01/2014

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:00:00. > :00:00.have to rely on artificial alternatives.

:00:00. > :00:00.It is now time for the latest financial news with World Business

:00:00. > :00:28.Report. sales for the luxury carmaker is

:00:29. > :00:35.demand surges in China and the Middle East. Plus, Japan's PM heads

:00:36. > :00:43.to Africa. Has China already snapped up the best investment

:00:44. > :00:51.opportunities? Hello, and welcome to World Business

:00:52. > :00:56.Report. Also, the dying art of noodle making. More in our series on

:00:57. > :01:02.vanishing professions. First of all, it is a fourwheeled symbol of wealth

:01:03. > :01:06.and success, some might see XS. The cheapest model sells for over a

:01:07. > :01:16.quarter of $1 million. More people than ever splashed out on a

:01:17. > :01:20.Rolls-Royce next year, -- last year. Rolls-Royce delivered over 3630 cars

:01:21. > :01:24.last year, the most in the company's 110 year history. Not

:01:25. > :01:29.surprisingly, China played a major part, which growth of 11%. It

:01:30. > :01:39.overtook the US last year to become the biggest market. Wealthy Arabs

:01:40. > :01:46.who have always been loyal markets, have not given up either. I am

:01:47. > :01:51.joined by the boss of Rolls-Royce. Thank you very much indeed for

:01:52. > :01:57.coming in. To use a cliche, and you have been on a roll for some time.

:01:58. > :02:05.We have seen record numbers year after year for several years now,

:02:06. > :02:08.why is that? The main reason is a strong portfolio, desirable

:02:09. > :02:12.products, excellent service levels, and also that we are globally very

:02:13. > :02:17.well balanced. It is not only the eastern part of the world, China or

:02:18. > :02:24.Asia, were also very strong in the US and the Middle East. That is

:02:25. > :02:30.always key criteria for what I would call sustainable growth over that

:02:31. > :02:37.time. To what extent has China played a part? We have seen a real

:02:38. > :02:40.surge in demand for luxury goods in China in recent years. You are

:02:41. > :02:45.right, China has grown significantly over the last years. China is now

:02:46. > :02:54.together with the US one of the main pillars for our sales, and also the

:02:55. > :02:59.Middle East. China is also on a percentage level something between

:03:00. > :03:04.25 and 26% of our overall business. You may have a tough year in China,

:03:05. > :03:08.that is argued by some people who are looking at this. Many people are

:03:09. > :03:12.warning about the year for China, concerned about risky loans and the

:03:13. > :03:20.effect of the credit crunch. What is your Outlook? We have seen good

:03:21. > :03:24.growth in China in the last year, we have put some effort behind that.

:03:25. > :03:27.The effort has been to come closer to our customers, having opened up

:03:28. > :03:32.new dealerships in China, increasing service levels, and I think that

:03:33. > :03:38.pays off very nicely. When you are selling product of an ultra high

:03:39. > :03:46.level, you have to service your customers on an outstanding level.

:03:47. > :03:53.Also, proper investment is vital, Rolls-Royce is a very good

:03:54. > :04:01.investment. Wendy now you have reached saturation levels? -- when

:04:02. > :04:07.do you know. You must know that there is a point at which the people

:04:08. > :04:13.that you are going to sell two have already got one. There are people

:04:14. > :04:17.who can spend easily a couple of million dollars a year in China, and

:04:18. > :04:23.that is quite optimistic over the next year. You must always

:04:24. > :04:28.considered that there are always new cities generated, with millions of

:04:29. > :04:33.inhabitants. There is potential for the future there. We have run out of

:04:34. > :04:44.time, we could talk for a long time on the subject. Thank you for coming

:04:45. > :04:47.in. Thanks. Japan's PM, Shinzo Abe, begins a tour of sub-Saharan Africa

:04:48. > :04:52.today. It is the first by a Japanese leader for eight years. He is

:04:53. > :04:56.expected to promise $570 million in loans to Mozambique, when he stops

:04:57. > :05:04.in the capital as part of the tool. It will also take in the Ivory Coast

:05:05. > :05:15.and Ethiopia. It is seen as an attempt to reinforce Japanese

:05:16. > :05:20.investment in the region. Tell us how well this trip will go

:05:21. > :05:25.down. These countries already very happy with the Chinese investments?

:05:26. > :05:33.I think anybody would be happy with a pledge from Japan to invest, $14

:05:34. > :05:38.billion in aid and investment in infrastructure, renewable energy,

:05:39. > :05:43.mining assets, any country would be happy to receive that kind of money

:05:44. > :05:47.from Japan. As you suggest, it is a realignment of Japan's Africa

:05:48. > :05:52.policy. To a large extent, they have been in aid donor to Africa, and now

:05:53. > :05:58.they want an emphasis on trade, and the backdrop is China having grown

:05:59. > :06:02.its investments in Africa fivefold. Fivefold in trade, and eightfold in

:06:03. > :06:07.investments, are coming the largest trade and investment partner to

:06:08. > :06:13.Africa. Africa is on a steady growth path so there is massive possibility

:06:14. > :06:17.for growth. There is also a great market for Japanese products, cars

:06:18. > :06:24.and electronics, and they want that captive market. Thank you very much.

:06:25. > :06:28.We will keep an eye on that trip, with Shinzo Abe starting in

:06:29. > :06:37.Mozambique. Other business stories, inflation in China fell to a

:06:38. > :06:45.seven-month low to low. The annual rate was 2.6%, well below the 3.5%

:06:46. > :06:53.target. Annual consumer price rises hit 5.4% earlier last year. They say

:06:54. > :07:00.this gives paging room to continue growth in the biggest economy in the

:07:01. > :07:06.world -- Beijing. Qantas has had its credit rating cut to junk status by

:07:07. > :07:20.the agency Moody's. Qantas has been struggling at home with competition

:07:21. > :07:23.from rival Virgin Australia. The European Central Bank is expected to

:07:24. > :07:32.leave interest rates on hold despite a drop in inflation. This has raised

:07:33. > :07:42.fears of a Japan style era of deflation.

:07:43. > :07:48.Throughout this week we have been looking at vanishing professions,

:07:49. > :07:55.jobs that are dying out with the rise of technology. Today, we go to

:07:56. > :08:01.Taiwan to discover a centuries-old tradition practised by just a

:08:02. > :08:06.handful of people. This family in central Taiwan is one

:08:07. > :08:12.of only two in their village making noodles by hand. He used to be ten

:08:13. > :08:17.families here that made noodles the traditional way. It is a trend

:08:18. > :08:24.repeating itself throughout Taiwan. This man is a third-generation

:08:25. > :08:28.noodle maker, he grew up watching his parents and grandparents make

:08:29. > :08:33.noodles by hand. His long working day begins at the break of dawn, by

:08:34. > :08:41.mixing flour, salt and water. It may seem hard to imagine, but this big

:08:42. > :08:45.blob of go is eventually transformed into noodles that 1/10 a centimetre

:08:46. > :08:57.thin. This machine only gets the dose so thin, the refined work will

:08:58. > :09:05.need to be continued by hand. -- dough. These will need to be pulled

:09:06. > :09:10.by hand, and it is not as easy as it looks. This way of making noodles is

:09:11. > :09:13.centuries old, and is believed to be brought from China, where the

:09:14. > :09:18.ancestors of most Taiwanese people come from. It was passed down from

:09:19. > :09:24.one generation to another, but this man may be one of the last ones.

:09:25. > :09:28.TRANSLATION: The money we earn is earned in a hardware. If it looks

:09:29. > :09:32.like it is going to rain we have to take the noodles inside otherwise

:09:33. > :09:38.all-out efforts are wasted. These noodles are made with just flour,

:09:39. > :09:42.salt and water. They look simple, but there are hours of hard work

:09:43. > :09:47.behind them. The family began working at 5am and won't finish

:09:48. > :09:53.until 7pm, and there will only make about $100. After all the hard

:09:54. > :09:59.work, the family sits down to a lunch of oysters and noodles. It is

:10:00. > :10:04.one of the best noodle dishes I have ever had. There is no telling

:10:05. > :10:11.whether this product of hard work and patience will survive through

:10:12. > :10:13.the changing times. I love noodles, that has made the

:10:14. > :10:34.very hungry. -- me. Scotland Yard chief will meet

:10:35. > :10:37.community leaders in London today in an effort to rebuild trust after an

:10:38. > :10:43.inquest decision that Mark Duggan was lawfully shot by police. His

:10:44. > :10:44.death led to riots in towns and cities across England more than two