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tv   Business  Deutsche Welle  April 17, 2019 3:45pm-4:01pm CEST

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and make it into the fast lane lapping up the demand for. business is huge indonesia a sprawling archipelago of seventy thousand islands that span the distance from new york to london ballots were ferried to far flung areas by helicopter horse boats and sport a massive exercise in democracy and a referendum on how the president is handling the economy. full speed through snarl traffic on a motorcycle taxi dwn. my name. i hope in the upcoming election security and stability will be maintained we common people are always the first to take the hit when there is no security. there wasn't always security and stability twenty years ago the country was on the brink of an abyss and since then been repeatedly shaken by muslim extremist attacks this not only
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unsettles the people but also the investors in jakarta's financial district although the economy has grown by an average of five percent in recent years it's still vulnerable the reason is the country's mess of foreign currency debt speculation about interest rate rises in the us has already shaken the economy like at the end of last year when the national currency the rupee plunged to its lowest level in twenty years since then it's a struggle to make gains. your county give party earns around twenty u.s. dollars a day on that income he supports his wife and four children. yeah she went up a long time when we only want to basic things such as more customers and certain and clear road rules and cheap gas and affordable necessities and differently we won't be happy with empty promises. and that's all that many of indonesia's one hundred ninety million voters want
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a month ago jakarta's first metro line opened but president joe we do know it doesn't have the money to deliver the roads bridges and railways needed right across indonesia that leaves big cities like jakarta as gridlocked as ever but that's good for the motorcycle taxi business at least. a ticket for the violent andre hang joins us now from singapore andrea you've been following this election for us what are the latest results looking like well the early election results are showing that president the incumbent president joe cole we don't know or djoko he is he leading by eight to ten percentage points over his second time rival proposed to be until now this margin is rather slim compared to the twenty fourth teen elections between the same candidates and there are number of reasons for this name leave the criticism that the progress on the economy has not been quick enough especially for its middle class residents and at the same
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time he's also been criticised for not being conservative muslim how quick would you say the president has been in fighting something like corruption. well it's a very corrupt and is a very inherent problem in indonesia and has been for some twenty plus years in its democracy and now with this being a deep seeded problem djoko we has me is his the deepest efforts to raise the rankings on the c.p.i. any he has successfully done so indonesia still ranks eighty ninth in the list of one hundred seventy five countries but whether or not that is actually tricking trickling down to the people is another question i guess tell me about the issue of palm oil that's something that both candidates say that though continue as far as production goes despite what europe basically is totally against
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exactly with the e.u. having a plan to curb the use of palm oil in order to reduce deforestation in indonesia indonesia now has to back fire has to fire back with that plant that was the intent to contest at the world trade organization they want to challenge the definitions of what sustainable methods are in the e.u. and defend their rights. and the palm oil economy as well and trading for us in singapore in the individual elections thank you very much. the long running dispute between the u.s. and e.u. over aircraft subsidies is going into another round brussels has published a list of american imports worth twenty billion dollars that it could hit with tariffs includes a diverse range of fish tobacco suitcases planes helicopters tractors and videogame
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consoles among others brussels and washington have been battling over subsidies for a u.s. plane make a boeing and its european rival have asked for almost fifteen years. some comfort for investors the official line in china today is that the slowdown in economic growth is not as bad as thought gross domestic product growth in the first quarter by six point four percent year on year and it just rolled out last month. news that china's economy had risen six point four percent in the first quarter comes the welcome surprise week global demand in a bruising trade war with the united states has weighed on the world's second largest economy for months beijing warns china isn't out of the woods yet. given slowing global growth and trade international uncertainty and domestic structural issues reform in development is an arduous task downward pressure remains. the uncertainties include the trade dispute with the u.s. it is dampened export growth and ruffled market nerves investment is dropping their
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concerns about real estate prices and chinese consumers are spending less to soften the blow china has lowered labor costs and introduce tax cuts beijing is also trying to support ailing state owned firms while restricting capital exports to prop up the currency the measures are temporary reprieve beijing now faces a delicate balancing act to support businesses in need of credit without dying to death data last week showed chinese exports soaring past expectations in a sign that economic stimulus may finally be gaining traction meanwhile industrial production is growing at the fastest rate since two thousand and fourteen with growth from traditional industries as well as telecoms and tech. but some experts are asking about the reliability of chinese data the washington based brookings institution says china's real growth rate is actually two percentage points lower than the official rate. and i'd stalk to cliff it couldn't about this he's covered the region for years the global economy as we all know depends on china and investors around the world place they have beds on that growth rate but how
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trustworthy is it when i think that the investment banks and investors have always relied on the data because they have to they've no alternative but they've always had suspicions this goes back to history to the time the dawn when local governments used to pretty much say what they thought the central government wanted to hear so there have been suspicions because of that and though there's still some lingering concerns about whether the real picture is being presented to the central government when they provide the information whatever the exact numbers actually are the wheels of a mammoth economy are in motion and they're moving it's an economy that is moving extremely quickly but how healthy would you say it is i think as you say this is a massive economy and it has expanded whatever the detail of the g.d.p. figures for example the economy has definitely expanded by a considerable amount it's slowing down but we're talking about lower percentage increases of a much bigger pie so in that way i think the fundamental health of the of the
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chinese economy is very robust however there are question marks to how it will deal with some of these issues that it's facing at the moment such as the u.s. trade war and other issues well how is the trade dispute playing into things it is more of a political thing or is it actually having economic effects big economic effects i think where you're seeing the economic effects particularly are in the size of the country where a lot of the manufacturing is based because they would traditionally be the bigger exporters they're also reliance on that input from the u.s. so they're definitely feeling theirs but it's largely a political issue too that this is about the two great superpowers the emerging superpower and the existing superpower juking it out and one could overtake the other cliff thank you very much. global brands are posting even more impressive chinese growth even though sales in general have dropped premium cars are in demand more than ever.
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there's no sign of a sales crisis on shanghai streets german luxury brands like miss eighty's audi and b.m.w. now 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 much more leg room in the back 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 automaker said they have gained market share and that is great. also building stretch versions of its european cars here with the q two the ingolstadt 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 porsche wants to grow ten percent here for china is a strong with market things a 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 gili 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 subsidiary smart. i think the g. least they can influence will increase a timeline 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 will probably do even more there will have to see if
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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. and just updating our top stories for you one hundred ninety three million indonesians have voted in an election about the economy and chinese growth outdoes expectations as investors around the world churn out on business with you i've been fizzling i'll see you again very soon here on the w a y.
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complicite on t w. this is. a live in area lection results point to another. president. of course to lead the world's third largest democracy. but will his victory what will it mean for the country we will hear from jakarta also. construct the cathedral a. beautiful place for. gold to be reached within five years.

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