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overthrew the government three years ago.
Now it's time for World Business Report.
Could a vote by secret ballot oust South Africa's president,
We talk you through what's at stake.
Plus formula milk is big business in Hong Kong.
We assess the obstacles there to breast-feeding.
China's appetite for stout beer is soaring.
faces another vote of no confidence in parliament.
This time it will be a secret ballot.
Mr Zuma has been under constant pressure over everything
from corruption allegations to a controversial cabinet reshuffle
that saw his widely respected finance minister, Pravin Gordhan,
That prompted two credit rating agencies, Standard Poor's
and Fitch, to downgrade South Africa's credit worthiness
to junk, hugely increasing borrowing costs.
And in June, the economy, once the continent's largest,
fell into a second recession in a decade.
Figures out yesterday show the country's unemployment rate
remained unchanged at close to 28% in the second quarter.
That's about five million more than in 2009.
With me is William Attwell, senior analyst, Sub-Saharan Africa
Nice to see you again, William. Thanks for having me on. What do you
think will be the outcome of this boat? He is known as the great
survivor. Will he survive again? Yes, so essentially Jacob Zuma is
fairly safe actually. He has had nine votes of no confidence before
and survived all of them. This is of course different with the secret
ballot, which the opposition says would protect those ANC MPs who
might vote against him. Certainly there are several MPs who've come
out very publicly, saying they would vote with the opposition, but
ultimately, within the party, the majority of the MPs, the opposition
would need 50 to vote with them, but they are not going to get those
numbers, simply because of those MPs fearing a backlash through some sort
of internal investigation later. So what will finally toppled Jacob Zuma
then? I know he is stepping down as head of the ANC in September this
year, but he remains president in theory since 2019. I suppose Zexit,
as you could call it, will happen. It's a matter of when rather than
if. Till 2019, he will hope to stay in power by having his former wife
the head of the party, which he hopes will protect him, perhaps
allow him to stay on Npower little longer, and hopefully avoid
prosecution in his eyes. In the meantime, what will happen to the
South African economy? It's taken quite a heavy hit. We mentioned the
event, Pravid Gordan being shuffled out of his position. You mentioned
the rand, just after the secret ballot was announced, it increased
2% against the dollar. Essentially any meaningful reforms that can
improve the economic situation, we are forecasting considerably less
than 1% growth this year. Basically all reforms that would help redress
the situation are off the table. Internal politicking will dominate
the headlines for the next five months. Thank you very much. Of
course we will give you the outcome of that secret ballot as an when it
happens in South Africa. Apparently it is now eclipsing
the American market. Rico Hizon is in our
Asia Business Hub in Singapore. So nice to have you back.
You've been missed. Great to be back! It's a lovefest here...
Goodness me. Chinese drinkers will consume more than 216 million litres
of stout beer this year, and that number will surpass the United
States as the top market for this dark brew worldwide, and this is
according to the latest report from Euromonitor International. For our
viewers who don't know what stout beer is, it's a dark beer using
roasted malts, barley, hops, water and yeast, so American drinkers had
previously taken the crown from the British in 2013, but now both
markets are just growing at a fraction of the pace in China, where
brewers such as Diageo and Guinness have benefited from growth of more
than tenfold over the last four years, so they are projecting
Chinese demand will more than double to around 660 million litres by
2021. I'm not a beer drinker, Sally, so for all stout beer drinkers,
well, this is good news. That's a heck of a lot of beer, I
have to say! It's good for the manufacturers...
Thank you. And now it's time for the next
instalment Today we focus on the great debate
about breast-feeding In Hong Kong formula is proving
to be a lucrative business and breast-feeding rates are among
the lowest in the world. Juliana Liu has been
finding out why. Sometimes, professional assistance
is needed to help a new man achieve that perfect latch. Yes. Lactation
consultant Christine Lam has been teaching breast-feeding for 20
years. It's still an uphill battle. Quite a lot of mothers in hospital.
The breast-feeding rate on discharge is very high that when they go home
it will drop. Nearly all mothers are breast-feeding on discharge from
hospital in Hong Kong but that rate falls to a third when their babies
are four months old, one of the lowest rates in the world. Locally,
this is the average for babies under six months old. One of the reasons
for the low rates in Hong Kong is the ubiquitous advertising
artificial baby milk. Two years ago, formula makers spent $370 million on
advertising, nearly as much as the Health Department spent on disease
prevention for all ages, according to a group funded by UNICEF. That
amount is set to fall after the official launch this summer on a
voluntary code that restrict the marketing of infant formula. The
city's top health official says the goal is to protect breast-feeding.
And, if there are problems in running this code, using this
voluntary nature, then obviously we would consider whether or not that
legislation should be in place. New man Sheena Shen uses the guidelines.
She is breast-feeding her one-month-old baby but admits
continuing will be a challenge. It's difficult to breastfeed as a mother
because of short maternity leave. It's just ten weeks and I had to
work six weeks after birth. At a pro breast-feeding event, mothers here
agree that short maternity leave a long working hours and a lack of
sleep are all obstacles. They say the government guidelines will help
but, on their own, they are far from enough.
Do you think it is fair that formula milk brands
The Google employee who wrote a memo critical of the firm's diversity
initiatives has been fired from the company.
A male software engineer argued the lack of women in top tech jobs
was due to biological differences between men and women.
Google's chief executive responded by saying the contents of the memo
However, portions of the memo crossed the line.
The world's biggest hotel chain will partner with Alibaba to tap
into the growing number of Chinese tourists.
Marriott International says the joint venture will allow Chinese
travellers to book rooms using Alibaba's travel website.
They'll also be able to pay for their hotel bookings
Chinese travellers are expected to take roughly 700 million trips
Tesla plans to raise $1.5 billion to pay for production
By the sounds of it, many will be drinking stout beer on their
holidays as well! Let's look at the markets:
Basically, these markets have been going up, up and up, so no
surprises, a slight fall in Asia today, but look at the Dow, going
higher and higher again. I'll see you again very soon.