tv Business Deutsche Welle August 6, 2019 8:15pm-8:31pm CEST
and 4 hours a night. congratulations to her washington still to come on the program and in the ivory coast the u.s. and african countries are busy talking trade but it's clear that the 2 sides are coming at things from 2 totally different directions. that story and more on g.w. business to africa from all of us here at the union's i'm sara kelley in berlin that you so much for joining us every day. to. earth the home for saving google india's tell stories of creative people and innovative projects around the world ideas to protect the climate and boost green energy solutions by global india's vision by the series of global 3000 on d w and online. the quiet melody resounds
michael white who. ready soon repeat reasoning with an it's. the mind and the music. brain to open 1st bond 2019 from september 6th to september 29th. was. 5 years of war take their toll on him and now food prices soar turning a daily struggle into an even tougher fight for life we talk to residents in the port city of aden. sub-saharan africa calls for a free trade deal with the u.s. that american officials want to separate paths with each and every country. and on
the cusp of a pan africa. trade zone the hopes and fears of the increased competition across the continent. let's do business the united nations says the war in yemen is the world's worst humanitarian crisis millions of people have been displaced and are in need of aid than is chronic unemployment and surging food prices our correspondent reports from aden way yemenis a struggling. fresh tuna used to be an essential food item in yemen before the war the gulf of aden is full of tuna by these days most people cannot afford it fishermen have to pay more for gasoline to go fishing so tuna prices are rising. there are many customers who are in debt for a lot of money i don't give credit to everyone but i give it to. those who can't pay and. people's emotions over rising prices can easily boil over at
the market. i swear to god all i get for 303 hours 2 pieces of fish to feed a family of 7. and she blames to government and that's what i have called the government is responsible for this not us and we are just ordinary people we are just waiting for change but nobody does anything that government officials live comfortably with their fancy houses and their money and the rest of the people die i'm telling you the truth but them hang me i'm not afraid i only fear the government is the one ignoring its people that. everyone here appears to agree. with the war in yemen in its 5th year people are fed up with chronic unemployment unpaid salaries a lack of security and a functioning government the currency is collapsing. as you can see the shelves full of course but there are hardly any costumers no food imports are usually
delayed or block at the me. so whatever arrives here is quite expensive for the ordinary citizen ordinary yemeni people rising food prices have taken a poor life. unreliable power supply makes keeping food fresh a challenge for supermarkets and with much fewer customers businesses are struggling just to keep their businesses running. but then again we're not. only in the 1st problem is the. how can we get our goods through the port it's nothing new . process at the port and the. who's a huge challenge for us. the face of yemen's president hadi can be seen on several billboards in aden the locals say he's on vacation but the president is actually in exile in the saudi arabian capital riyadh these men are selling petrol on the black market they want to
benefit from the country's failed economy but protests against the worsening economy are weakening as if people had lost the will to fight. the united states in sub-saharan africa have come together in ivory coast to talk trade they have very different views the u.s. is only interested in bilateral deals african officials want to speak with one voice they say their economies are small and for good and bilateral agreements only reinforce that. abidjan is a bonanza of sub-saharan countries produce right now chocolates and other food products including cashew nuts might eventually find their way to u.s. retail shelves but in the current climate of american protectionism ror cotton and denim cloth may pose bigger challenges. are significant hurdles are still to be overcome to enable african countries to fully benefit from access to the vast
american market of 350000000 consumers. in may 2000 president clinton signed the african growth and opportunity act into law the objectives include the expansion of trade and investment with sub-saharan africa and to encourage economic growth and development progress has been painfully slow and washington's trade representative. not offer any concrete encouragement we hope that in time enduring and reciprocal free trade agreements with the united states will serve as a conduit for the investment many african countries desire but the african union wants a single agreement with the newly inaugurated african continental free trade area members also draw attention to the lack of u.s. sect of a t. in africa. one can especially draw attention to the lack of diversification in products which are traders and the only going low level of u.s.
investment in africa which to date represents less than one percent of total u.s. investment at the global level. that's a huge lost opportunity for washington and china's happily exploiting that gap its trade with subsaharan africa last year was worth 3 and a half times more than us trade with the region. about whether the u.s. missed the boat with one of our african correspondents in a moment 1st africa's efforts to set up its own trading block just recently launched the african continent free trade area the biggest of its kind in the world but there's resistance from west africa's economic union was. a popular market in the capital accra. a good place to hunt for spare parts for cars and trucks. local traders sell domestic products or engage in craft related activities. foreign traders mostly from nigeria one in 5 of the shops here by nigerians and
they run the biggest stories. nigerian merchant. is one of them he imports electronic devices and says they are huge costs involved even when importing goods as an citizen. not. business you have to. import terrorists the only challenge. like these from local. banks are not fans of increasing access to local markets citizens like the nigerian merchants are the market we have.
these pieces. so even get a good treaty if you. will be the african continental free trade agreement will do little to ease that concern analysts say the deal faces an uphill battle. for a 2nd say that it's going to be an easy road. because we. have. east african community and east africa. and. probably the most coherent. most economists expect the african continent to free trade agreement to lower the cost of doing business in africa but not everyone is convinced they will benefit.
businesses fear a flood of cheap goods with a free trade zone. justified. yes the because we have you know had a lot of these african countries so business is really going into manufacturing and saw the fact that the unwilling to manufacture means that it's producing high quality goes becomes a concern and the concern is that we may have some products from also the continent coming in being rick package and being a you in this trading system that is going to actually come up in a coming year so dot com saying it's likely to meet what about nigeria's tepid support for the pact could it undermine it as africa's biggest economy. yes it is the biggest economy in africa and obviously a lot of countries on the continent a lot of to trade in that particular sector all in the economy and so one's
nigeria is not providing the need to support it becomes a challenge and actually for the whole trade deal to succeed so yes the needed to make this deal succeed and i'm sure the economy in years do definitely get to give the need to support what are the chances of africa getting an all in one trade deal with the united states if we broaden our focus here that's a challenge because while africa africa is trying to really speak with one voice the u.s. is not really interested in dealing with the continent i say units and forming. ok we've lost isaak there again this happened the other day sorry isaak we'll have to try to get back to you at another stage. in akra forest there talking about the way ahead for trade in africa oh moving on
a global stocks for treat is stalling china appears to have taken steps to stabilize the yuan that after letting it fall for a 2nd day investors are on edge scrambling to safe havens to pump their money the u.s. treasury department accuses china of currency manipulation beijing to denies that speculation china has been allowing its currency to devalue to support exporters and offset the latest threat of more tariffs from u.s. president donald trump analysts say this only drives a wedge between the 2 economies and makes a trade deal even less likely. and to the other development that spooks u.s. markets in particular beijing says chinese companies have stopped buying agricultural products from the united states after promising to buy more during recent trade talks and american family hold as ation calls the announcement of body or it's already been a difficult year for american farmers exporting to china fruit nuts and dairy have
all been hit with counter-terrorist from beijing some of them multiple times take pork it was hit twice last year with 25 percent tariffs it's effective tax now in china 62 percent and while that's taken a bite out of pork producers income it's been less than one might expect in the period between may and april the value of pork exports fell only 22 percent between the years ending 2018 and 21000 that's because china has been buying up large amounts of american pork due to the outbreak of african swine fever in the country the question now can the world's largest port consumer suddenly turn off american pork exports a $1100000000.00 market. i start business with. the
colors all of this seems now bowen 60 minutes. the 1st. first clueless. gore's grand moment to run a joint direct attack on the journey back to. our mean to return to. returns home. this is africa coming up on the show arrested without notice and mao tamed without being. he was seized by the needs of the committee to protect his kids. all inclusive society. the story of