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tv   Business - News  Deutsche Welle  July 28, 2018 7:02am-7:16am CEST

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second quarter u.s. economic growth comes in at over four percent driven by consumer spending and high exports that is just a nickel in the new era of trade conflicts also coming up should foreign powers be allowed to own critical infrastructure germany's government says no i'm blocked the chinese takeover of a company controlling the electricity grace. about chinese investment can child's whole countries we have a special report from cambodia. they say is your business update on how to humphrey but thanks for joining me while the numbers are in they know good very good in fact over the last quarter the u.s. economy grew at its fastest rate in four years that's positive news for the world's largest economy but analysts say it's unlikely to be quite as positive as the white house makes it out. trump was quick to celebrate the new figures four point one
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percent growth from april to june. we're on track to hit the highest annual average growth rate in over thirteen years and i will say this right now no serious strongly as the trade deals come in one by one we're going to go a lot higher than these numbers and these are great numbers truck claims the new quarterly rate is sustainable on the campaign trail he promised annual growth between four and even six percent of his war on obama air regulations was supposed to unshackle the economy his one point five trillion dollar tax cut supercharged the new growth but well economists expected a surge from the tax cut this quarter some even predicted five percent if you believe it is sustainable. for one the federal reserve concerned about inflation is expected to raise interest rates several more times this year. businesses also don't appear to be investing heavily there were also one off events this quarter
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soybean exports shot up over tariff concerns government spending rose in part due to the defense budget. and there are worrying signs housing sales continue to decline wage growth is still weak one thing is sure the u.s. economy is booming at the moment in the long term however question marks linger. let's go straight over to off financial correspondent yens course in new york hence then went on to say in that press conference off to it hit it achieves an economic turnaround of historic proportions that's how he put it is that the case is this growth reflecting an overall trend of global recovery we have seen some synchronize global growth in the past couple of months that certainly did not hurt but most of the growth actually did come from us their consumers and then also the tax cuts at least for now certainly also pushed
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economic growth in the u.s. higher and this growth story started in two thousand and nine so way before dawn of trump became the president of the united states so he can put it all in his own shoulders but if we look that we're rather late in this growth story a growth rate of four point one percent in general is pretty impressive it is impressive says the u.s. federal reserve has still got its full year growth out where it is holding steady at two point eight percent so is that seemingly meteoric pace of growth envisages i mean is it actually sustainable. well i mean we certainly did see that this administration is giving all the tests to push the growth higher but there is clearly also quite a risk involved in this well donald trump grew up in luxury and probably still
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lives in luxury and to you might not have heard the term safe when the times are good so that you can spend when the times are bad so if the economy shifts to the lower side the big question mark is what can be done to actually prevent the u.s. economy from falling into a deeper recession but the recession is not on the horizon yet the growth forecasts for the third quarter for the fourth quarter assume looking pretty good so most of cobol call them is say that maybe in a year from now so that's when really things could haunt us back specially also the tax cuts we see a huge debt load here in the united states but nobody really wants to hear that at this moment all right yes cause interests all in a wall street thank you yes which has plunged nineteen percent in friday trading that's off of the social networks at the number of monthly users was down by one million in the second quarter and it expects a further drop in the near future he's an amazon declining as twitter intensifies
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at that suffice spam bank accounts as well as hate speech online search presence heroes in europe i would say main business honda twitter is the second major social media for them to report a decline in uses off of facebook ok just a day off for the world's biggest social media media platform suffer the biggest ever one day loss in dollar value for a u.s. company. germany's government is intervening in the sale of critical infrastructure to chinese investments german state bank a f w has agreed to take a twenty percent stake in high voltage energy network operator fifty hats fending off an offer from chinese state great now but said it has a strong interest in protecting critical energy infrastructure from foreign influence. control over the distribution of electricity it's important for millions network operator fifty hertz provides transmission in large parts of north and
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eastern germany including the capital berlin that's one reason why the federal government deemed a partial purchase of the utility by chinese investors problematic. on one hand we're naturally pleased that investors invest in germany and purchase businesses. on the other hand given how things have changed in the world we have to look at what business activities what areas are focal points for national security . because the investor in this case is a state run company trying to meanwhile shields its own market against competition from the west the german government has long pushed for equal rules for everyone. dissing suspicion just as that's why it's right that we seek reciprocity to dislike it we work towards similar rules of the game internationally and this is where these big investment plans are increasingly playing an important role but it's about german firms securing equal access to chinese markets and names of the others
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are critical of the involvement of the german state bank its global view that ensued between we risk taking ourselves out of the driver's seat says don't believe every investor with specific infrastructure in his portfolio will think well maybe a chinese firm she needs it in the federal government can spring in with the german state bank in the un with their pound of. government officials will debate the next case next week chinese investors are interested in a german technology firm. well china is cementing is position as a global economic superpower quite literally the country invests in infrastructure projects around the world especially in africa and asia and in cambodia chinese investment has totally transformed the once tranquil resort of sihanoukville the south east asia correspondent bust and heartache filed this report like every day is preparing his little khmer western restaurant for dinner time. and like every
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day he knows that he's unlikely to sell out all the delicacies he's putting on display sales for cambodian business owners like have slowed dramatically since the coastal town of sihanoukville has been overwhelmed by chinese tourists. they like their own food and. they come here. most of them they go to chinese restaurants while bill who has lost sixty to seventy percent of his revenue some of the chinese own restaurants down the street are pursing at the seams. the main attraction for chinese tourists in sihanoukville the casinos. gambling is a favorite pastime for many chinese but it's illegal in mainland china here however casinos are springing up like mushrooms. alongside luxury apartment blocks at prices ordinary composed ians could never afford. by any measure cambodia is
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a poor country but its economy is growing fast and largely that's due to the massive amount of chinese investment pouring in and much of that money goes into construction projects like the one you can see here by the end of last year chinese construction contracts in cambodia were worth some seventeen billion dollars and that's almost as much as the country's g.d.p. itself the influx of chinese money is a blessing for those who managed to land a job here they can earn two to three times as much as others feel. i'm rich now but at least i'm no longer poor. i used to not have any savings at all now i have some money at home maybe one or two thousand dollars things have definitely improved compared to when we were poor. we have about fifty of the. others have found work at one of the mostly chinese factories that have opened in the special economic zone close by what attracts investors here is the cheap labor
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but with demand for workers on the rise so are the wages i predict the next ten years. is about two hundred dollars two hundred thirty or two hundred fifty dollars so. this will be less competitive in the world market so the problem can go to how to change production starting so government how to do very hot work at that because most people they leave the school. a grade six grade to a grade so that the problem of how to improve the value added because the above activity is a low cut for the moment the composing the qana b. is benefiting from china's investment push even if in sihanoukville not everyone is happy about it we'll does it for me and the business team hey i'm ballin for
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more find us on twitter and facebook and for a guy who has a real time check on the global markets at this hour have a great weekend thank you company. thank you. must feel.
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like you've opened their. fucking metal show just dozens of newcomers immobile. w.x. cup exploits are going to exist so fucking opener to take charge of district the first spoke to the f.c.c. on account of the build up succeed in defining the subtle not succeed in taking the people off the streets because we're tired of this dictatorship. taking the stand global step matters d.w. made from minds. they are watching of all they took train all in the water and the poorest of the
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poor in poor countries started railing education they are demanding good quality education for their children because what it wanted also to realize that if they have to have good quality products some good quality consumers they need to look quality skilled workforce i'm very confident that in two thousand and fifty no child or no i go through the many illiterate that is the fundamental human right that is the divine right which the nature of the body has given to us and those who because legend the way that i had to learn those was clutching of it i had the freedom that against nature that i can just walk.


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