tv Business Deutsche Welle July 4, 2019 8:30am-8:46am CEST
you know you're a max series that. i love teaching english and once again certainly looks like the toughest race like me but this is the nation's 50 story. and 53 personal tips on berlin's very best. every week on t w. calling status as a global financial hub visit stake bylane protests have rattled business there are reports some executives are thinking twice about setting up operations that. despite his trade war trump fails to rein in the u.s. deficit now he accuses other economies of a currency manipulation game. and bowing makes
a $100000000.00 pledge to help families and communities affected by its deadly max a crash. and a fizzle and lets do business hong kong's business community is on edge pro-democracy lawmakers say a big police round up could trigger a moron racist it's been over a dozen arrests announced following monday's violent protests the business world is following this closely some foreign wealth managers are thought to be scrapping plans to open offices in hong kong in favor of singapore has been weeks of demonstrations over a proposed law that would have allowed the fishes to extradite alleged offenders to china including foreign executives one european wealth has told reuters clients a wary of investing where they may have to be where they may have to close for safety reasons. so it's a. type a is now type a office what what does the financial center think about these protests so
well i think people agree that confrontations and outbreaks of lawlessness in hong kong could damage its reputation as the international visit and seriously hurt its economy while hong kong and beijing governments are trying to blend of violent protesters actually people in hong kong want the government to hold their responsibilities because we know the thing is the leader kerry last only promised to suspend the controversial extradition bill instead of totally scrapping it so a lot of international investors are really worried because they want hong kong to maintain to special status and is independent judiciary talking about the special status what is actually changed for the financial hub since it was returned to china well hong kong was was indispensable to china's rise in the city's g.d.p.
share was equivalent to 18 percent of china's total g.d.p. share in 1970 but by 2018 this number fell to 2.6 percent of china's g.d.p. so are many analysts believe that the city has experienced this slow motion seach from beijing that is china trying to make large investments in other business hops for example like the city of send to nurture hong kong input for the country's political economy we recently reported that investors are gradually withdrawing money from homegrown juju fear of beijing's influence what what is the situation there now. well it's happening quietly and slowly no major company dares to speak out for fear of angering the chinese government but there is this wave of concerns freddy into the community many international investors they really warry because they used to think that hong kong
is a safe base for them to do business in china but if the hong kong government they cannot promise to actually drop that extradition deal then a lot of companies they might leave hong kong for other destinations what about the tourism industry or the tourist industry they're really worried that because around 80 percent of tourists in hong kong are from mel in china just last year there were more than 51000000 visitors from mainland china to hong kong and there's account for 40 percent of home concert retail sales so it's definitely a big deal but in the long run people are forgetful the tourists will still come back if the chinese government position matters if they decide to live in the number of the tourists of hong kong and that will really be a big problem so thank you very much for the analysis. several major
u.s. based technology companies of planning to shift substantial production out of china among them personal computer makers h.p. and dell technologies others mention of microsoft google parent alphabet and amazon u.s. president donald trump and china's xi jinping struck a trade war truce at last weekend's group of 20 summit in japan but the companies are not likely to alter their plans of moving production just to avoid tariffs they will face higher operating costs in china. the white house's economic advisor larry kudlow says trade talks with beijing could resume as early as next week representatives from both sides have been in phone contact since last weekend's meeting between the leaders of the g. 20 but their latest figure is have yet to reflect trump's efforts to rein in the u.s. trade deficit at its widest in 5 months the gap between imports and exports rose by almost half the same to make american car imports also climbed to the highest on record as businesses may be stocking up ahead of an expected increase in towers on
chinese goods. let's get the european perspective on this from conrad who isn't outside the frankfurt stock exchange forrest trump hasn't been tweeting about that deficit lately. you know but trump has found other measures that allow him to boast about how successful he allegedly is the most important measure is the american stock market yesterday the dow jones the nasdaq and the s. and p. 500 on the american stock market all have closed on you record highs it's very difficult to argue that america is being ripped off while the valuations of companies are so high and also of course this is a speculation trump might have found out that the argument with the trade balance is not as easy as he always has made it sound trade balance is influenced by many different factors and an overwhelming majority of economists of this world is
convinced that the you simply cannot use them as a measure of success or failure of an economy doing currency exchange rates coming to this i mentioned currency manipulation being his next big thing earlier in the show. yes this is what he's now tweeting about but i have to say this is a point where the u.s. president really has a different opinion than his own administration the u.s. administration has always confirmed all of the institutions that look into whether or not countries manipulate manipulate their currencies you know the g 20 the i.m.f. all of those international institutions that actually the european central bank and even china where the central bank is not so independent is doing a decent job in making sure that their currencies are stable and in making sure that the prices for the currencies express whether or not the economies are strong
or not the weaker economy for example europe simply has a weaker currency or it was in a private stock exchange thank you. u.s. private equity firms calomel and bain have put in a $3400000000.00 offer for a german lighting group both ram a company fully siemens subsidiary employs $26000.00 people the purchase also reportedly includes guarantees that office locations and jobs would be maintained has been struggling to turn a profit in recent times final decision about the buyout is expected later today. boeing has announced the creation of a $100000000.00 fund to support the families of communities affected by its deadly next 8 crashes in indonesia and ethiopia the news comes as the company faces a criminal investigation in the united states over the fate of passenger jets. these are the kinds of images imprinted in the minds of the families and friends of
those who died in the ethiopian airlines crash in march. it was the 2nd deadly accident of a boeing 737 mach attributed to full t. software the 1st in october of last year the lion air flight downed in indonesia. now boeing has pledged $100000000.00 to support the families and communities of the $346.00 people who lost their lives a statement published on the company's website read we at boeing are sorry for the tragic loss of lives in both of these accidents and these lives lost will continue to weigh heavily on our hearts and on our minds for years to come the families and loved ones of those on board have our deepest sympathies and we hope this initial reach can help bring them come 1st the money less than the list price of a 737 marks is intended to support the education and living expenses of those affected by the crashes it has nothing to do with the scores of lawsuits being
brought by the victims' families analysts say those could cost boeing a $1000000000.00. the announcement of the fund which is to be distributed by unspecified local government and nonprofit groups comes as boeing faces criticism for cutting costs by outsourcing software development abroad. earlier this week bloomberg reported that the company had been hiring programmers in india for as little as $9.00 an hour. the u.s. state of california has passed a bill banning discrimination against styles of work in schools to protect black people with dreadlocks. for years u.s. courts it argued can be changed meaning discrimination could not be applied. changing the course of history. because of here like this
from now on employers and schools will no longer be free to discriminate on the basis of natural hair style. black people specifically who have always been discriminated against because of dreadlocks braids or rose and they have a kind of style that you can name. that's not a fashion statement for us like that sorry that i be and like you're discriminating against me because of my identity. lawmakers see it was this video of a high school wrestler having his dreadlocks cut off before a march last year that sparked cry and highlighted the discrimination black people face over the issue this salo owner says for too long african-americans have been forced to treat their hair to fit in. if my heroes is guilty that's what i look like and shouldn't happen but on someone's 3 year that's not even my year to speak cept that makes no sense i'm going to go on am street and by senior in still in my net and look like somebody else come on just let me get
a job no california is the 1st state to straighten out discrepancies and equality laws redefining what's acceptable in the classroom and in the workplace. and just updating our top stories for you hong kong status as a global financial hub is at stake file and protests of rattle business there are reports some executives are thinking twice about setting up operations there despite his trade war trump fails to rein in the u.s. deficit now he accuses other economies of a currency manipulation game and bowing makes a 100000000 dollar pledge to help families and communities affected by its deadly max a crash is iraq today hold a business news sunday in physical and lasting business with.
for. a new government is coming up ahead. minds. take it personally you went with the wonderful people and stories that make the game so special. for all true fans. because more than football long line. welcome to culture we'll be traveling around the world to find out which splenda sets become unesco's new world heritage sites also coming up. you'll find it decorative by styles all over rural pennsylvania they originally
come from germany. and to meet the germans rachel stewart investigates how the german language has been invaded by so. since 975 unesco world heritage sites have been protecting and conserving monuments natural sites and buildings that are concerted and in sensual pots of mankind's legacy this with the agreement of practically every country in the world and every year a committee from unesco meets to look at more sites from around the world that are nominated for this special global protection. you could hardly pick a better backdrop for this year's unesco world heritage meeting the ancient walled city of baquba the azerbaijani capital already has 2 world heritage sites. palace built in the 18th century and the 12th century meeting tower this is stork setting .