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tv   Business  Deutsche Welle  April 17, 2019 10:30am-10:46am CEST

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of the. rich people like yourself. little. dangerous. floods and droughts will climate change become the main driver of mass migration you can write any apocalyptic scenarios you want and probably most of them to come from. the climate exodus stories of people thirty years on t w. china's economy grew slightly faster than expected in the first three months of this year and that's despite the country's ongoing trade dispute with the u.s. but some analysts say treat official figures from beijing with caution. and there are exceptions as the sun is so germany's premium come out of factories say they
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have been talking with the negatives market trends in china. visit of your business . and welcome the chinese economy grew faster than expected right during the first quarter of this year and let's say it was propped up by u.s. president donald trump backing down from a threat to escalate his trade for last month and government stimulus measures stocks closed on a thirteen month high on the news but some analysts doubts that official figures from beijing can be fully trusted. spring is in the air as china blossoms but that holds mainly true for the country's flowers and trees the chinese economy is stable but not blooming is brightly as in former years on the one hand there's the trade dispute with the u.s. that's taking a toll on exports and scared off investors and things could escalate rapidly if the two sides don't reach an agreement soon. on the domestic front the consumer boom is
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tailing off and there's less willingness to invest beijing is responded with a hoost of measures including generous tax cuts and labor cost reductions the government is also stepping in to prop up ailing state owned companies and it is restricted capital exports to prevent a run on the country's currency the state intervention is aimed at bolstering the overall economy and it's had a positive effect the economy has gone back into positive growth but the washington based the brookings institution says china's real growth rate is actually two percentage points lower than the official rate that means the chinese economy is actually in much worse shape than it appears. it's now let's bring in our correspondent from taipei can we
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trust these figures like to ask him but i'm just hearing that talking to our correspondent last hugs or instead who is obviously just become aware that we're talking about g.d.p. or worries in germany last the german government is predicting today that gross domestic product will increase by just half a percent this year is that how our markets reacted to that i have their answers at all. they have reacted much good as you can see right behind me on the board there's not much going on and that is a little bit due to two different sets of data we are receiving today of course there's that relatively weak number here coming out of germany but there's the strong chinese economic data of course with g.d.p. they're being stronger than expected now of course nobody knows how much we can trust those numbers out of china but well they are there and since china is the biggest growth market for many companies all over the world and especially for
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german companies as well that is an important set of data here so it balances out kind of what we're hearing from a german economy minister here and that means basically markets are pretty flat for the day so far. another big story going on in germany at the moment is the merger talks between germany's two biggest lenders. and. just today it seems a new horses entered the race if you will dutch bank and g.m. has said it's ready to bid for spawn what are you hearing there in front. well first of all it makes things very complicated now not for investors they are of course are very excited about this especially shareholders for comair spun comments from shares are up over three percent right now because they are find themselves in a very good position here of course several banks are bidding for you that drives up the price and that is all they care about for right now but of course the
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situation is a little bit more complicated if you think back a few years or decades even though it should bunk was a global powerhouse then it's not anymore that's of course the financial crisis ten years ago and due to several scandals the bank was involved in and it has lost power coming out spunk is not doing too well and fifteen percent of spunk is owned by the german government now the german government has an interest in having one big global player in the field of finance here to back up the german economy of course so they want this marriage between deutsche bank and commercial spunk to happen and hopefully that will bring them a national over a global even champion but of course things are getting complicated now with i n g because they don't want to super from abroad and i n.-g.'s making things the attractive for comerica spunk and actually for the german government as well they're promising to move headquarters from amsterdam to frankfurt and promising to lay of people that would do so this is really going to be an interesting story to
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continue for a while. financial correspondent in france with thank you very much. now to some of the other global business news making headlines today apple and mobile chip maker qualcomm settled a multi-billion dollar legal dispute centered on patented technology that enables apple's i phone to connect to the internet a surprise trues became a broccoli means to firms do not need to go to. u.s. lawmakers say a merger between wireless operators t. mobile and sprint is bad for competition t. mobile is mainly owned by germany's dodgy telecom consumer advocates have long criticized the potential merger between sprint and the mobile us. streaming platform netflix says it expects scriber growth to slow from april to june that's
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because it has increased the price for supposed subscriptions in the u.s. brazil mexico and parts of europe streaming services space and drop in subscriptions to be sure. german comicon b.m.w. is recalling three hundred sixty thousand vehicles in china the cars were fitted with defective ad bags made by a japanese supplier to carter around twenty people have died in accidents links to defect of our bags since twenty thirty. now more than a quarter of all new passenger cars sold worldwide are sold in china but the mood at the shanghai motor show could be better in the first quarter sales and john have fallen fifteen percent to fifty five million units and the car market is expected to continue on a downward slope but german premium other factions there say they are bucking the negative trend so also shanghai comes at the right time for them to push sales with
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several world premier. there's no sign of a sales crisis on the shanghai street journal luxury brands like u.s. sadie's audi and b.m.w. are watching their sales climb and climb b.m.w. wants to boost revenues with a long wheelbase version of its mid-range car the high earning middle class in china wants a much more leg room in the bank because they like to be chauffeured. no the big party is not over this is the largest market in the world and ok yes we see a downturn the first three months this year last year as well but different look at the german automakers they have gained market share and that is great audi is also building stretch versions of its european cars here with the q two l. the ingle stock based company is covering three mega trends in the chinese car business longer all terrain and electric that's what successful chinese drivers want and the party isn't over for poor either it's nine eleven cabrio is becoming
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a status symbol for the nouveau riche in beijing and shanghai this year push it wants to grow ten percent here for puerto china is the strongest market things couple of years and the other important point is the new technologies they are developing here in china a very interesting part of there are a lot of ideas we can take a part of that well and chinese business is no longer a one way street chinese manufacturers like g.e. going on the offensive more and more often the group already owns volvo is a major shareholder in dime low and owns half of its small car subsidiary smart the shipping get us i think three g. least they can influence will increase the time line and it b.m.w. you have to see that b.m.w. is very strong with great wall the electric mini is produced in china in a joint venture with great wall they'll probably do even more there will have to
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see if these two companies will join forces the shanghai exhibition shows that the industry's on the cusp of a new era one that revolutionizes technologies and for just a lion says and china is increasingly setting the tone. welcome back to our top story the chinese economy is growing grew out of faster than expected rate during the first quarter of this year so it's in shanghai close on a thirteen month high bob some analysts doubt that official figures from the can be fully trusted so let's bring in correspondent so. from taipei who's that now. so can we trust these figures well many analyst was saying overall we cannot trust china's g.d.p. figures because the government tend to inflate its g.d.p. growth and according to a u.s. state department memo released by wiki leaks the current chinese premier league
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could top a u.s. ambassador in two thousand and seven when the peer premier within a local official that the g.d.p. figures were not reliable and he himself look at other indicators like the row a cargo valliant electricity consumption and the loans dispersed by banks better economic indicators so i guess the answer is pretty obvious is this something that is actually being discussed in china whether these figures can be trusted and the precise. well i'll is that people want to discuss it but it's very difficult because it's a very sensitive issue in china let me give you one example the chief economist of china's agricultural bank said in a speech that actual g.d.p. growth number in china in two thousand and eighteen was only one point six seven or even negative which is very different from the government officials figure. the
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video of that particular talk was immediately censor over the chinese internet so people in china can't really doubt the government officials figures and talk talk about the truth of it. very briefly zero zero point one percent stronger growth uninspected how significant is that briefly things. well i think that the figure shows that chinese economy is holding up ok and china is trying really hard to smooth the downward transition from its high speed economic growth model to a substantial one and i think that's a very important message that we have to focus on so of course one of the in taipei thank you very much. and that's it for me and the business team here in berlin thank you very very much for watching the business but.
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i'm not laughing at the germans because sometimes i am but i stand up and with that . many things deep into the german culture. who take this grandma day oh. it's all about who you know i'm rachel join me for me the gem of a course what's the connection between bread. and the european union
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the no guild motto correspondent alan baker can stretch this can line with the words sex by the. smattering recipes for success strategy that make a difference. baking bread on g.w. . hello and welcome to our culture today as calls come from around the world to rebuild cathedral in paris after the terrible fire that raged on monday evening we will be devoting our news to the cultural significance of this masterpiece down the ages. took over one hundred years to build
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finally being completed in the thirteenth century we'll be looking at the historical significance of this building since then. victor goes famous book the hunchback of notre dame influenced its restoration in the nineteenth century and more recently the movies and a musical made of that story and how of course it has brought millions of tourists to visit this landmark in paris every year also we'll talk about the hopes for its restoration. for all this i'm joined by my colleague david levitz who's been following the story and the deed you visited. many times as have you robyn and vike like you and frankly hundreds of millions of people who probably have visited it today there is this this very mixed feeling on the one hand the sense of devastation at what has been lost but on the other hand an almost euphoric relief
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at how much of you know it's what was saved from the fire the iconic bell towers survived.


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