tv Business Deutsche Welle April 3, 2019 10:30am-10:45am CEST
to allow me to reinforce for them to listen and use what was happening was not for him you know who. the. leader whose success is beyond question. tragedy starts people to w. . there's trouble on the horizon for global growth but there could be a glimmer of hope coming from asia which keeps outpacing the west we speak to the chief economist of the asian development bank. also coming up dima opens a new factory in moscow the comic is hoping to profit from of rapidly growing russian markets. welcome to do that the business i want to get jones in berlin good to have you with us the chinese delegation is making its way to washington for more
talks aimed at resolving the country's longstanding trade dispute it is the mind's time of the two sides meeting to ion out their differences u.s. treasury secretary stephen menuhin described the last set as constructive prompting hopes that a resolution could be close but at a republican fundraising event last night u.s. president to donald trump continued to talk tough. john chronic trading abuses and theft of intellectual properties and so many other things that they've done tours i don't know how you people allowed this to happen for so many years you've been here longer than me but they really have they've taken advantage of our country. and you know what i respect them for i say it we should have been doing that to them. i was donald trump talking last night meanwhile the global economy is coming under evermore strain the words trade organization warns that world's trade growth is slowing at an alarming rate blaming
political instability caused by the us china trade and the mayhem surrounding brics it and the w t o isn't the only body sounding the alarm. the world's leading financial institutions say the global economy is in a delicate position that it needs handling with care the international monetary fund says the trade conflict between the us and china is to blame specifically we have looked at what might happen if tariffs on all goods traded between the u.s. and china went up by twenty five percentage point point that would entail a reduction of g.d.p. of point six percent for the united states. and one point five percent for china. do the math. it was a self-inflicted wounds that should be avoided in regards messages clearly aimed at
american and chinese trade representatives in the weeks now they've been trying to find a solution to their simmering trade conflict the clock is ticking and international economists hope the trumpet ministration will heed the warning. now despite the i.m.f. warnings there is some good news to figures from the asian development bank shows asian economies posted steady growth in twenty eighteen despite many challenges however growth in the continent is expected to soft and to five point seven percent next year largely due to the trade dispute between the us and china a growth in china is expected to slow further to six point three percent in twenty nine thousand and six point one percent in twenty twenty apart from the us china trade dispute which weighs on exports another factor for slowing growth is beijing's attempt to stop the real estate sector from overheating now in the are on
the other hand is said to see growth pick up as consumption strengthens rebounding to seven point two percent in twenty nine thousand and seven point three percent in twenty twenty southeast asia will sustain growth at close to five percent this year and next and here the asian development bank expects a stronger domestic demand to offset weaker export growth and for more on all of that i am joined now by yasser yuki chief economist at the asian development bank very good to have you with us many say the future is asia while the west is stagnating doomed to decline what is your take on that. don't think current situation is not necessary to. china or other asian countries sort of dominating the west but rather what is happening are two things first.
you know western country european countries as well as the us and japan already reached a high income high income economy not too dirty and saw dollar grows. on the other hand developing asian countries are catching up process to these advanced economy so this is the one process of our expansion of global economy secondly i count i'd like to point out global economy currently so much interconnected so. growth momentum asia also supports the economy's growth and in turn grow. grows support by country also benefit the. asian countries are mutually reinforcing because going on that's what we stand corrected. when you when you mention interconnected economies we of course know it here the chinese growth is slowing the way out not just because of the the trade dispute how
big an impact does the slowing growth in china have on asia as a whole. so again in global economy as well as with the asia economy china and other asian countries are so much interconnect that from goods and services trade as well as a few not sure into connecticut so chinese growth and that's really a lease to us or down or other junk countries. in this but. in china chinese exports roll down to the us markets can be potentially captured by other asian countries all reet trade reduction effect can soften negative spiral of effect generated by chinese a grocer down now the asian development bank predicts in its latest report today a growth in asia will drop further until twenty twenty why twenty twenty what's happening then. so we usually. release
a make a new release two years price on the short horizon rather surprising within two years so that's why we need this up to twenty twenty and in this wise old we can make a reasonable prediction unfocussed according to this group or current environment group or business cycle now to that was the certainly don't what and why or if young growth rate is has been moderating from point one seven percent this year and five point six percent next year all right yes so you keep chief economist at the asian development bank speaking to us from hong kong thank you so much for your time. thank you. south korea is getting ready to usher in the next generation of hyper fast commune communication as it prepares to turn on its so-called five g.
network on friday the technology will go live across the country three mobile providers s.k. telecom has just held a launch event for its super fast network select business customers have been able to use south korea's five g.'s and december from friday it'll be open to anyone the same day samson will release its galaxy s ten five g. smartphone the first in the world to make use of the technology. and form and this carlos' goal may be facing a further charge as part of a probe into financial misconduct japanese prosecutors are looking into a possible breach of trust related to the transfer of millions of dollars to a distributor in oman some of which was allegedly used for private purposes responding to the news go on announced he'd be holding a press conference next week tweeting that he's quote getting ready to tell the truth about what's happening. german luxury carmaker dima is
getting ready for what could be a high profile event brown to most say this will open a new plant in moscow today german economy minister peter out my old will attend the ceremony and russian president vladimir putin is also expected to join russia's car market is growing again and german carmakers are all fighting for a piece of the pie. time lore is hitting the gas with its easy reason rush out the model is being built in moscow in this brand new factory the german car maker has pumped over two hundred fifty million euros into it soon it will be cranking out s.u.v.s as well after years in the dumps the russian car market is growing again. at a system of course this is the fifth largest market in europe so german companies are acting consistently by investing here and building up production sites on a dime or wants to profit from russia's dynamic auto market around one point eight
million new vehicles were sold here in twenty eighteen and sales are speeding up. opel is also trying to get back on the russian road it left three years ago but now wants to return it's looking to open around twenty dealerships the investment climate has improved despite the fact that the country has been slapped with wide ranging u.s. sanctions. the u.s. sanctions are counterproductive because they create uncertainty in the market and aren't specific enough pretty much any company can be affected by them. and so on the. v.w. is investing in the russian market for the long term with sites like this factory in kaluga engines made here will go into models manufactured mostly in the czech republic and spain things are less positive it forward it's looking to scale back its russian production dramatically the u.s. based company has been a loser in the price wars. gladness. of civil of sorts made a mistake was its pricing policy russians were used to cheap ford cars that they
could afford then ford raised prices very quickly. that are not as damaging a move in the luxury segment perhaps b.m.w. customers are always more willing to splash out but especially in russia. it was remarked the russian market has potential we increased sales by twenty percent last year and see room for growth with new models fueling demand. and german car makers are only too eager to keep their customers satisfied. a rare diamonds cut from a rock mined in botswana a sold for eleven million dollars at an auction in hong kong the overall cost stone has more than eighty eight korat an anonymous collector from japan bought it after a fast moving bidding battle of only ten minutes auction house of the beast described the diamond as perfect in every way the jewel will be named after the new
owner's daughter. so for. graduation. there in neat that's your business update here on d w four more you can always check out our website at www dot com slash business or you follow us on facebook and twitter i leave you now with a quick look at global markets and meanwhile for me and the teen as always thanks for keeping us company.
i'm not knocking. them but. they think into the general culture of. this ground even if all that who knew i might join me sunday up the coast. welcome to news from the world of arts and culture why has a new exhibition in paris renamed classic masterpieces well find in a minute also coming up. to see inspirations include her childhood in war torn beirut as well as the simple beauty of nature. and you've probably been to plenty of parties in your time but i bet none come close to this zero gravity policy do not try so hard.
but we begin with a rather unique exhibition that has just opened in paris which is renaming classic paintings it's at the music and is called black models from jeffrey cole to matisse and it's all about black models who featured in famous paintings getting recognition or any recognition at all. to my colleague david lesser leavitt's in just a minute but first is report. money a painter considered by many the father of modern art in the foreground a milk white prostitute who stare shocks in one thousand percent reviewers who for a center.