tv Business - News Deutsche Welle June 15, 2018 1:15pm-1:31pm CEST
errol has stepped in and he's around madrid legend he's a spin legend really and we'll see how far they can get to see how father get and. thank you very much. he watching the javanese coming up ahead a bleak teen full vaughn's trade u.s. president donald trump slaps billions in tallackson china and beijing promises to retaliate. again how does the president give it to you shortly with that story and more just a bit the neatest. thing i. think you're smart t.v. the smarter with the d. w. bush want to. find out more that e.w. dot com smart t.v. . clash of cultures in india. a clash between those who believe in arranged marriage
and those who want to marry for love to. a club that's shaking families and society to the cool. my father will be angry sometimes i think i'm already dead to. the love commandos starts july eighth d.w. . it's a bleak day for a while try it donald trump slap small billions entire lives on china and beijing promises to hit back meanwhile the e.u. retaliates with tariffs on us for the arts and it's in the says it wants to tell praga trade deal with canada trunk we'll bring you back up to speed. and we'll see
our andre bobby the second richest man of the czech republic is shaking up the political landscape in his country. this is the business of the hot office in berlin welcome if you've been following the news on global trade over the past while you'd be forgiven for feeling a slight the a little bit overwhelmed with more twists than a murder mystery every day seems to bring another installment in the tale of tit for tat tariffs so let's take a deep breath and lay out the current state of affairs the big news today is that the united states is slapping twenty five percent tariffs on some one thousand three hundred chinese products valued at around fifty billion dollars i'm just waiting for the graphics to yes they are fifty billion dollars got all that never mind we'll have all the details coming up in a report in a moment but before that the european union is hitting back against u.s. tires on that still
a million with imposing levies on american goods worth about three point three billion dollars included on its tariff hitlist bluejeans motorcycles and whiskey the you might be united on that matter bus on other issues of trade cracks are beginning to show italy's new government is threatening not to ratify the e.u. canada deal a trade deal with canada food loving country says the agreement doesn't protect protect certain regional products like gold and solar powered johnno and pursue told so there we have it from blue jeans to blue jeans chaos all around but one spot at a time let's return to those u.s. tariffs on chinese goods he tells with tyrants and we'll head to bach that was china's response to the latest twist in a dispute placing the world's two biggest economies they can teach other. if the
united states takes funa lateral protectionist measures that harm china's interests . we'll react quickly and take the necessary steps to resolutely safeguard our fair and legitimate rights. a clear statement of intent just a day after u.s. secretary of state mike pompei i met his chinese counterpart in beijing but those diplomatic efforts didn't stop the united states from pressing ahead with plans to impose tariffs on fifty billion dollars worth of chinese goods early drafts of a list drawn up by the white house indicate that products including medical equipment and plane parts will be taxed at twenty five percent which china ready to fight back in kind the economic impact could be huge. we're going to be. another different parts of the world the caribbean island nation of barbados is drowning in debt it has the world's fourth highest debt to g.d.p.
ratio behind japan greece and sudan now the i.m.f. is stepping in to get barbados back on the block the new prime minister motley recently announced the country had undisclosed liabilities raising its overall debt from hundreds and thirty seven per cent of g.d.p. to over one hundred and seventy five mostly had no choice but to contact the financial lifeguards at the international monetary fund the i.m.f. signaled it would assist barbados ailing economy with an emergency debt restructuring plan does then suspend payments to external creditors to regroup barbadoes o's two thirds of its debt to local investors and bonds. through. some thought that debt restructuring measures are required without endangering its domestic financial system. government wants to protect barbados most vulnerable citizens as well as vital business sectors critical to the island nations growth or
what's going on that i'm now joined by graeme minus a journalist from the region first of all we always think of your it's an expensive hotels and rich people when we talk about places in the caribbean like barbados we forget these countries are normal you. anime's with normal people in this group the company. used to be considered one of the fiscally tightly run countries in the caribbean how did that get so high well for starters you have to look at the history of these countries you know a lot of them were completely decimated economically in the one nine hundred ninety s. of trade wars of latin america exporting products to the e.u. like bananas and sugar and from there you know they tended to veer more towards international business and tourism to bolster the economy but at the end of the day these smaller countries are still competing on a world scale now you mention barbados barbados is an independent country but if you look at its territories and other countries next to it that are not independent
like the british overseas territories such as bermuda the british version islands the cayman islands they're much more better physically run and in barbados and this is because they have the united kingdom bargaining for them on the world stage and most of those debt is owed to local investors and banks how will prime it is to. restructure this debt without putting the local bank the banking sector well first and foremost she has to find a good balance between the country's fiscal responsibility and its fiscal realities you know she has made a number of campaign promises that all on the the people of her country and i think she just needs to do a really tricky balancing act to pull. the bench you can keep as politicians do all over the world is that you think is a problem all our other islands in the region in afflicted in this in the way one think that barbados is definitely a microcosm of what's happening in the region if you look at jamaica comes in second place for caribbean countries as far as debt to g.d.p.
ratio it's in a far second place but it's still in second place it's been in the financial fiscal crisis for at least a decade for decades you know so the question must be asked when you look at how these countries are run is it because of gross incompetence that you have the issues going on in barbados today you know prime minister monti was voted in in a general election just last month you know so she's taken on a lot and i think you know you have to ask yourself are these. countries and what they're proposing to fix their economies is what's good for the country necessarily good for the people and vice versa there's many places in the world that actually fight actively fight to is not that's not an option for barbados is it i mean barbados has a very strong tourism product you know barbados and its beaches are known worldwide from north america to the e.u. so i don't necessarily think that it's fighting tourism you know i think that tours zone is definitely of an avenue that the country can explore to help its economy but they also have to look at alternative measures to turn things around thank you
very much they're all very much as. the czech republic might finally have a government coalition eight months off the bobbies centrist party came first in inconclusive elections but the billionaire have been having trouble finding anyone to work with these face of fraud investigation in connection with the abuse of e.u. subsidies a decade ago now the country social democrats said to agree to a deal but they'll still have to rely on the communist party for support critics say what lies ahead is a hof by coalition. bread for prague straight out of the factory belonging to the country's prime minister and. the bread factory with its two hundred seventy employees belongs to agro fat a business success story for bobbish. has a yearly turnover of one point five billion euros the company's interests extend far beyond bread but it keeps its cards close to its chest only reluctantly giving
a statement on the prime minister's involvement. hasn't been responsible for since january two thousand and fourteen when he joined the government finance minister and now that he's heading up the government he's no longer with i grow fat his share in the company has been transferred into a trust fund in other words mr bush has no part in aggregate daily business. directly opposite the company headquarters the main office of the political party founded by bobbish is now the biggest political force in the czech parliament andrey bobbish is estimated to be worth around three billion euros was many czech people are concerned that so much wealth and political power concentrated in just a few hands in early june thousands of people took to the streets to protest against what they call an oligarchy. the anti bobbish protests were organized by
a group of students. his holding which is now managed by his wife and by his close friends burned during prohibition in government during four years burned one and a half billion of europe and is the same amount his holding current during twenty years before you get there. the activists say agra fat has acquired the most important newspapers in the country turning them into propaganda instruments. the senior editors of all left the papers and are now working independently. on the. interests in health agriculture and community and first two businesses are very much dependent on the state and the legislation of the many see an indisputable conflict of interests between his business activities and his role in politics business consultant otto brown knows the mood among czech business leaders how does
he see things developing. the government will continue to align itself with the e.u. and the west and there's no danger of the czechs it either. so it's likely the czech republic will stay loyal to the e.u. but it won't adopt the euro as a currency the economy is growing wages are on the rise there seems little reason for andrei bobbish to change track. well that's it from me and the business team at him and then i will have a brief update for you in the next stop and also in the meantime do check twitter facebook accounts on all websites to w dot com slash business clothes both here in the real time check global markets pass this off thanks for watching dot. com.
next doubly. more intrigue international talk show for journalists discuss the topic of the week sharing the historic summit in singapore u.s. president donald trump a north korean dictator kim jong il the promise of a complete denuclearization of the korean. can they deliver one point zero zero my guests have to say on quadriga coming up shortly. sixty minutes on d w. staying up to date don't miss our highlights w. program online d.w. dot com highlights. have you accidentally shared some fake news again.