tv Business - News Deutsche Welle April 12, 2018 3:15pm-3:31pm CEST
the result gave them a two one aggregate victory putting them into friday's drill for the last full of european football it's premium cup competition you're watching the war now website on the david bent the student is standing but he has the business headlines coming for you shortly. they make a commitment. they find solutions. inspiring. africa on the inside. story of both people making a difference shaping their nation the found the continent of africa on the
move stories about motivational change makers taking their destinies into their own hands w.'s new multimedia serious work on. d w dot com africa on the move. collateral damage in the skies even before donald trump fires his first missile in syria many airline stockbridge flights in the region adding costs and testing passenger patience. protectionism could threaten trade strong growth forecasts a warning for the world trade organization to the deputy director general and the indian beauty industry is targeting a whole new customer base gentleman right if you make over. that's the business many airlines are on high alert following u.s.
president donald trump's threat of missile strikes in syria several carriers started recruiting flights among them air france the airline is modified it said for destinations close to syria including flights to beirut and tell of the german flag carrier lufthansa says it has avoided flying over the eastern mediterranean for some time as a precautionary measure. but trumps being invasive about the timing tweeting the attacks could be soon or not soon at all let's get the latest reaction to the markets then you cope is at the frankfurt stock exchange for us daniel i guess that's driving stocks and traders crazy. yeah exactly let me tell you that all of this here on the trading floor has right now absolutely and nothing to do with the real business world how companies are performing all of this right now is now leading to the geopolitical tension we are facing at the moment this morning we
were in the red here after asian markets read out their trading day with losses then some hours look here and versus received on their smartphone donald trump latest tweet saying that he never said when an attack on syria would actually take place so some gas off relieved just minutes later and that's what i mean with this share prices went up again and right now we are again and the plus against that it's hard to say which way shares will go next but one thing you can say is that the volatility is here to stay. yeah exactly volatility will remain that's for sure the world is watching what's going to happen next in syria also the trade war is still a topic early it was stated that the european union is not sure that those exemption from terrorism from the united states will remain we have to remember that europe is only excluded until may first it's still not clear what washington wants in return for a permanent e.u. exemption as what we heard earlier from european trade commissioner secede from in
copenhagen so i guess van we'll just have to wait for the next tweet ok thanks for the great news day. a cycle of retaliation is the last thing the world economy needs a statement from the world trade organization referring to a very different battle the one daniel just mentioned there one concerning the top two economies the united states and china a tit for tat tariff dispute in which beijing looks like it could be backing down but not before taking the tussle to the w t o international body is the global adjudicator in such a phase it was set up in geneva in one nine hundred ninety five together its one hundred sixty four member states generate around ninety percent of trade of the w t o has two main functions firstly to persuade nations to bring move trade barriers and promote fair and free trade it does this by agreeing rules on a customs on custom tariffs and working to remove subsidies secondly to settle
trade quarrels between member countries since being set up the w t o is being called upon to settle more than five hundred such disputes members must agree to implement its suggestions but the other tracing process can take years and the us traditionally strong backer of the group is now its biggest critic. or one of the w t o's do rick to general the deputy director general rather joins us from geneva . of germany. just threats of a trade war of white billions of global stocks the world obviously can't afford to wait years for the w.t.r. to resolve this dispute are you hoping it'll sober itself. let me i'm very grateful that you gave me the opportunity to. make a statement on how long our litigation actually takes it's always said that it
takes years this is not really true our alleges our litigation is faster than any national litigation that you can think of you know merely get first. judgment within fifteen months and for the episode body to decide it will take from the start to the end only twenty four months in general we have out layers like add busboy but normally our dispute settlement system is very efficient and works much faster than national legislation to let national to restrictions or twenty four months equals so here at these services i wouldn't say there's any wrong with the statement i made. why why does it take that long i mean we're talking months and years because i mean this is normal right you have to go through consultations before you start litigation then
you have to set up a panel then you have to submit your claim the respondent has to have some time to respond and then there is oral hearing and then there is a decision and we also have to translate it into the three languages of the organisation i think fifteen months for a first judgment and then an added on nine months for the second one is not long well that would tell me very early w.v. zero issue that these drives serve in this digital era and it's very fast moving digital era and globally networked world that we live in it sounds like the w.t.r. needs an overhaul. no i don't think the w t o needs an overhaul on the w two as a forum for the members to cooperate right now we have a lack of trust among the members there is this conflict between the u.s. and china and we hope that. we will get the
conversation going again among the member states and particularly among the bigger players well the biggest players are there in the us of the u.t. oh let me just point this out the biggest players are the u.s. the e.u. and china china at the moment here is not a problem there are no cases where it's ignored w.t.r. rulings against that the u.s. and the e.u. have failed to comply with complaints against them and they're the ones who came up with a framework ok and there are needed least some cases where the complainants where the parties did not comply. but in general we have a compliance rate of more than ninety percent and you know we have no bailiff no task force no fast deployment forces or anything the parties comply
to the very large extent more than ninety percent compliance rate at a time. delay which is respectable now let me come back to china is not going to basically wrong we have. yes so sorry to interrupt again but let me just bring it back to china again because trump has said that china which is a great economic power is considered a developing nation within the world trade organization and they therefore get tremendous perks and advantages according to trump especially over the u.s. does anybody think this is fair that was a tweet of his on the sixth of april he reckons that the u.s. is badly represented and that the w t o is fair therefore to the u.s. what would you say to mr trump. we have three categories of countries we have the industrialized countries we have the l d c's the least
developed countries and this is a category which is actually determined by the united nations and then in between we have the developing countries and this is self-determination i think this is in fact the weakness there shouldn't be this self-determination. also shared trump nor that a trade war would hurt not just the rest of the world but their economies as well would you say that that they're just both posturing i don't know i don't really know what is in the hands of those people but i share your assessment that in the end there are only loses to trade wars. this is also reflected in the statement by ross when ross said that the us would lose less than china this is a statement which implicates that the us is also losing a trade war only produces loses the. deputy director general
culp out of germany thank you very much for joining us from geneva. one belt one road project is chinese president xi jinping zen bishop's vision for the future consolidating china's global power with a string of construction projects in sixty eight countries financed with chinese money but many such as i.m.f. chief christina got a warning china and its partners states that the project should only really travel where it's needed. it's a multi-billion dollar project building roads and railways from asia to africa in europe and to connect china to the world but there is mounting worry the belton road initiative could bind other states to china in negative ways to chinese financing for infrastructure construction many countries could leave them owing the world's number two economy too much money. to build them growth initiative can provide much needed infrastructure financing to partner countries but this ventures
can also lead to problematic increase in that potentially limited other spending as that service is a rice. and rice and creating balances off by human child injures at the belgian road conference in beijing the guard said it was important to focus on projects that were both really needed and sustainable to avoid spending strain on governments her remarks come nearly a month after a think tank the center for global development released a list of countries hosting road projects that were at high risk of distress and will have to leave a bad guy by. the
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