30/08/2017

Download Subtitles

Transcript

:00:00. > :00:00.There have been warnings that parts of the building could collapse

:00:00. > :00:18.Now it's time for World Business Report with Sally.

:00:19. > :00:21.Japanese Prime Minister Shinzo Abe welcomes his UK counterpart to

:00:22. > :00:33.Will North Korea overshadow trade negotiations?

:00:34. > :00:38.Plus, as Angela Merkel fights for re-election in Germany,

:00:39. > :00:41.we focus on the million migrants she welcomed two years ago,

:00:42. > :00:47.and the impact on Europe's biggest economy.

:00:48. > :00:53.Hello and a very warm welcome. This is World Business Report. I am Sally

:00:54. > :00:55.Bundock. In a minute we'll tke a look

:00:56. > :00:58.at the sharing economy in China. But first, Theresa May is lending in

:00:59. > :01:06.Japan very soon. on everything from defence

:01:07. > :01:12.to Brexit and trade. Although the UK can't officially

:01:13. > :01:15.start any trade negotiations until it leaves the European Union,

:01:16. > :01:19.both sides are already weighing up While the UK's investment in Japan

:01:20. > :01:23.is relatively small - in 2015 it was just over $6 billion

:01:24. > :01:27.- Japan's direct investment And that investment feeds

:01:28. > :01:40.through to the real economy - roughly a 1,000 Japanese

:01:41. > :01:42.firms operate in the UK, One of Theresa May's key aims

:01:43. > :01:53.will be to keep as many of those jobs as possible in the UK

:01:54. > :01:58.in the coming years. A strongly worded report

:01:59. > :02:04.from Japan's foreign ministry last year said firms might want to move

:02:05. > :02:07."if EU laws cease to be applicable Meanwhile, Japanese banks Nomura

:02:08. > :02:11.and Daiwa have already chosen Frankfurt as their new EU hubs

:02:12. > :02:18.in the wake of the Brexit vote. The meeting also has added

:02:19. > :02:21.significance as only last month the EU signed its own free

:02:22. > :02:24.trade deal with Japan - a deal the UK will soon

:02:25. > :02:26.be locked out of. Joining us now is Seijiro Takeshita,

:02:27. > :02:31.Professor of Management and Information at

:02:32. > :02:40.Shizuoka University. Good to see you again, Seijiro

:02:41. > :02:51.Takeshita. This is Theresa May's first visit to Japan as the Premier,

:02:52. > :02:55.and she has her work cut out for her, does she? I think the Japanese

:02:56. > :03:00.delegates are getting a little frustrated by the fact that they are

:03:01. > :03:06.not getting any concrete answers, and unfortunately, rightly so, from

:03:07. > :03:09.Theresa May, about what the position of Britain will be, exactly.

:03:10. > :03:14.Obviously, she cannot answer that. But she is not giving any concrete

:03:15. > :03:17.measures, which is basically exacerbating the worries that the

:03:18. > :03:22.Japanese companies have. As you noted, there are the one dozen

:03:23. > :03:25.companies there. In fact, 40% of them are in manufacturing.

:03:26. > :03:31.Obviously, they are extremely worried about the outcome of this.

:03:32. > :03:35.And considering the very high risk avoidance nature of the Japanese and

:03:36. > :03:40.their companies, obviously, they are getting agitated, as we speak. And

:03:41. > :03:46.then, the UK, it historically, provided Japan with lucrative access

:03:47. > :03:53.to the single market. That is why the relationship is currently so

:03:54. > :03:57.solid. But with Brexit looming large, Japan has done its own deal

:03:58. > :04:02.with the European Union. When is that leave the UK? I know that

:04:03. > :04:06.Theresa May will be hoping this is the basis of a future agreement with

:04:07. > :04:15.UK, but what is Japan's position? Is Japan's position? Theresa May may

:04:16. > :04:26.want to expand upon the EPA, and make it into FPA, a free trade

:04:27. > :04:35.agreement. But now there is the thought that we can look towards

:04:36. > :04:39.developing a FTA. -- FTA. One of the reasons we have such a lucrative

:04:40. > :04:44.relationship is the UK's access to Europe. Unfortunately, that is under

:04:45. > :04:47.a huge question mark. And we are not seeing any progress. And that is

:04:48. > :04:52.certainly a big miners, which Theresa May will probably have to be

:04:53. > :04:56.challenging in the next you days. Seijiro Takeshita, we appreciate

:04:57. > :04:58.your time. And I will keep a very close eye, we all will, on how she

:04:59. > :05:09.gets on in Japan. Now, let's just reflect, for a

:05:10. > :05:14.moment. You may remember, it has been about two years now says Angela

:05:15. > :05:22.Merkel took the momentous decision to suspend the EU protocol, and open

:05:23. > :05:24.Germany's borders to almost 1 million migrants, many escaping the

:05:25. > :05:25.war in Syria. The numbers coming in to the country

:05:26. > :05:28.have since dwindled, but for those who have

:05:29. > :05:30.made their home in Germany, finding employment is still

:05:31. > :05:36.a challenge, as Joe Miller reports At the training centre of Berlin's

:05:37. > :05:40.waterworks company, the next generation of technicians are being

:05:41. > :05:43.trained for what promises to be a stable and lifelong career. Among

:05:44. > :05:50.them is this man, a refugee from Prakasam. When I came to Germany, it

:05:51. > :05:54.was a hard time to me, because I cannot speak German. I learned the

:05:55. > :05:59.language, and then I got the opportunity from this country, and

:06:00. > :06:04.then I get my printer should place, and I was really lucky about that,

:06:05. > :06:12.because a lot of people, they are trying to get it, but it is very

:06:13. > :06:16.hard. Stories like his are unfortunately still quite rare, even

:06:17. > :06:20.though it has been two years since Angela Merkel's first opened up the

:06:21. > :06:25.German borders to hundreds of thousands of refugees. Only around

:06:26. > :06:29.20 or 30% are in work. And even with special schemes, such as this one,

:06:30. > :06:35.it can be tough to find the right candidates. One of the refugees

:06:36. > :06:39.started in this programme and moved onto a security company, where he of

:06:40. > :06:43.course makes more money at the start. People are looking for a job

:06:44. > :06:47.with direct money. Whereas in the apprenticeship, you don't have that

:06:48. > :06:50.much money at the start, but the prospect is very much better than an

:06:51. > :06:55.unskilled job you can get right now, for example. It could take the best

:06:56. > :06:58.part of a decade for the majority of refugees to find employment in

:06:59. > :07:02.Germany. But as long as the economy is booming, those crunching the

:07:03. > :07:09.numbers are not too concerned. We have a lot of money. We have a

:07:10. > :07:15.strong system taxes. So we can finance the task to integrate the

:07:16. > :07:22.refugees, to qualify the refugees, also. Back at the waterworks, he is

:07:23. > :07:26.ready for his first assignment. And with the economy tightening, Odyssey

:07:27. > :07:37.makers will be hoping that many follow in his footsteps. Joe Mellor,

:07:38. > :07:38.BBC News, Berlin. -- policy makers will be hoping.

:07:39. > :07:41.And what's yours, could also be ours, these days.

:07:42. > :07:43.That's the thinking behind the sharing economy that's taking

:07:44. > :07:46.off in various parts of the world, including China.

:07:47. > :07:49.But how far would businesses go to push this sharing concept?

:07:50. > :07:57.John Sudworth had a look around the Chinese city of Beijing.

:07:58. > :08:04.But what about all sharing? The company behind this venture plan to

:08:05. > :08:16.make 20 million footballs and basketball is available for hire,

:08:17. > :09:19.right across China. -- ball-sharing. -- basketballs.

:09:20. > :09:26.Now, let's show you the financial markets today. Some calm has

:09:27. > :09:30.returned in Asia. Yesterday, we sought share market is falling,

:09:31. > :09:34.because was going on with regards to North Korea. The situation is not

:09:35. > :09:37.necessarily improved that much but certainly as far as the markets are

:09:38. > :09:44.concerned, they have moved on. We have had the yen getting weaker ones

:09:45. > :09:49.again. People have been putting back into shares. That is following a

:09:50. > :09:55.better night, the night before. Wall Street, the Dow and the S 500.

:09:56. > :09:58.That is all for me for now. I'll be back for the news review in just a