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tv   Business - News  Deutsche Welle  May 29, 2018 1:02am-1:16am CEST

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member states. of. the plastic epidemic regular stores in cups have a very shaky future in europe the e.u. is caught in time of bulldozing through new legislation to save the planet as it chokes in plastic ways. also coming up the italian crisis continues the president vetoes a year a skeptic for economy minister and puts a former i.m.f. official in charge of an interim government and that is an issue hailed the main food realize this means more political uncertainty. and the former head of the world trade organization tells me these are dangerous times for global trade but that the playing field it does need to be evened out. this is your business update on how on the home free in berlin that you could join
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me well the european union is planning to ban a whole range of products made from plastic from cutlery to stores and q tips generates a staggering twenty six million tons of plastic waste every year and the e.u. commission says it is time that's changed proposal still eat the approval of the european parliament and individual member states the new rules would prohibit plastic straws cutlery and plates among other items although difficult to recycle and frequently appears litter it would also encourage countries to reduce the use of plastic food and drink containers and producers of fishing gear would have to contribute to waist costs many non-plastic alternatives are already on the market commissioners emphasized although they said nothing to differences in price the proposals were instead framed as a moral imperative that outweighed a limited business impact. there will be extra cost. but that the extra cost is much lower than the benefits for society plastic bottles
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would not be banned under the new rules but the minimum recycling rate for member countries would be raised to ninety percent of all bottles produced by two thousand and twenty five commissioner said that would address a common complaint by the bottle industry that there isn't enough recycled material to meet demand for new bottles the long term goal is that new plastic material will be made from old until viable alternatives come into the market the whole idea behind our approach is that we help industry develop new products and as soon as a raw viable affordable alternatives then of course we will push for them to take the place of those polluters that a single use to us tix the new directive now awaits approval from member states and we can now bring in our correspondent gag matters here is in brussels egg ale how exactly will this work so not all plastic being banned things actually when i went shopping in brussels today and here are two of those items on the list most
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commonly found in maritime trash if this legislation is agreed to by member states and by e.u. lawmakers those two items will simply be banned and they will go out of the window now the e.u. not only wants to ban things but they also want to encourage something they want to boost the production of items like this one which i found in the e.u.'s fan shop is a really usable bottle as though all the things that can be replaced that can be replaced by reusable things are not on that list obviously and also all plastic items that simply have no replacement like this doc will of course continue to be produced right they have now and what has sparked all of this briefly. the key is that the e.u. exports most of its of its plastic in fact half of the plastic trash only a third is recycled half of it is exported abroad most of it to china but china now
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decided from this year onwards to stop the import of plastic trash now a lot of member states are looking for new places to dump their trash the u.k. for instance is looking at southeast asia but for the european union or rather in the eyes of the european union of course only a sustainable solution can be put on the table right garrick matters for us in brussels plastic fantastic thank you now italy remains in limbo the country's political stalemate is nearing three months and it is driving financial markets that they cheered on the president's refusal to appoint a euro skeptic as finance minister you would think that naming an economist cut out a need to leave the country until new elections would be sentiment even further and not say. italian drama might be good in the movies but the market is not a fan of it after initial gains in the beginning of the day political uncertainty in italy caused the leading italian share index to lose over two percent by the end
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of it. yeah whatever the markets don't know who will end up governing italy more likely they will be a temporary technical government but we don't know for how long we've had many of them a very in length but the markets need just one thing certainty. new elections won't be called before the fall and whoever wins has a heap of challenges ahead italy is two point three trillion euros in debt that's the equivalent of one hundred thirty two percent of its g.d.p. . should the european central bank and its low interest rate policy italy would face higher interest payments that could lead to financial collapse unemployment is at around ten point two percent but in areas like calabria sicily and sardinia youth unemployment is over fifty percent in spite of the alarming situation in italy european leaders are trying to remain upbeat at the global solutions summit on monday german chancellor angela merkel said that the eurozone has
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a lot of experience when it comes to economic crisis. when there were elections in greece and alexis's you press was made premier there were many questions on the table and at the end of the day we worked together we spoke with each other over many many nights but together we achieved something i have to take on that task since italy is an important member of the e.u. and the. new. labor market reforms are only slowly being implemented and several previous a talian administrations have been unable to find a solution for italy's gargantuan state debt. well trade tensions overshadowing the global solution but here in the end it's a gathering of leaders in science politics and business and one issue that tackling is the reshuffling of the wall who would have us when europe china and the us. he's certainly no fan of global free trade since donald trump took office he's
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renegotiated several key trade agreements and backed out of all those foreign steel and recently cars are all according to trump a national security threat and he's fighting back with import tariffs trump's isolationist path is part of the strategy he wants to give domestic companies an edge in the u.s. markets american made cars for example are often less popular than german ones. but the u.s. is new direction is helping foster new by natural coalitions germany and china affirmed their joint commitment to global free trade during chancellor angela merkel's visit to beijing but can such efforts really hold the tide of protectionism coming from the world's largest economy and what about the w in recent years the trade organization has gained a reputation for drawn out negotiations resulting in no clear solution its function is to promote free trade and establish
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a framework for its critics however say the w t o is a relic of the past and should be abolished. well the former president of the world trade organization may just happens to be at the forum so we asked him if there's something the w.t. opan do to support countries doing the right thing. of course of course the world trade organization has ruled. that forbidden the sort. from initiated in the us and notably this riffs on steel and i don't mean you know where they are coming from europe or for that's where and i think the european union must fight this the w.e.o. by taking the us to the dispute them in the deputy geo and by retired yanking with its own power if if mr trump does not back down yes this is a major issue and europe has to stand firm against the us why is why recognizing
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that the us are always wrong when they say that the rules of world trade today are not what they should be and they notably and i'll some chinese behaviorism which are contrary to a level playing field worldwide so you must side with china against the us and not side with the us against china in trying to improve the rules of world trade through a multilateral negotiation and that's the european mission. me there was a dispute between the e.u. and the usa the illegal subsidies for european air craft make it continues the e.u. says it's compiled complied rather with all regulatory requirements but the u.s. sees things differently claiming u.s. rival boeing remains at a disadvantage now the disputes been going on fourteen years in may confirmed that
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the e.u. something dies a boss a legally the global trade regulator rules say that the u.s. is allowed to impose sanctions to make up for the losses. german a luxury car make a dime there is in a tight spot apparently picking up where v.w. left off and germany's transport minister has summoned the head of the luxury carmaker to his ministry in berlin to explain new accusations in the emissions cheating scandal. time the post was hoping to clear the air at the ministry so far his company had managed to keep out of the emissions cheating scandal but last week authorities said they found illegal defeat devices and diesel powered vans they already ordered the recall of around five thousand more could follow dime law has denied any wrongdoing and not much to add after today's meeting was a good software see each other again in fourteen days. by then i would have to
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clarify the issue with the ministry and also by then it should become clear if the emissions cheating scandal will hit yet another. up to date with the latest from the world of business thanks to a company. with
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