tv Business Deutsche Welle July 18, 2019 8:30am-8:46am CEST
as an astronaut he took part in the greatest adventure in history. where every. room. was simply a human being. was you know armstrong. was his destiny starts july 20th on t.w. . global trade is slowing and washington's foreign trade policy has a lot to do with that the international monetary fund warns conflicts such as the u.s. china trade war as well as a disorderly breaks it pose a threat to economies around the belt. also coming up come bodi an organic rise
used to be a sales hit in the european union but with new imports due to use market share in the e.u. is tumbling. i want to get jones welcome to your business and we're starting with news from south korea which has just cut its key interest rate for the 1st time in 3 years the governor of the bank of korea said he know what the key interest rate by a quarter percentage point to 1.50 the decision came amid a brewing trade conflict with japan over its colonial past on the korean peninsula tokyo had put curbs on certain materials that south korean high tech companies need to produce smartphones and t.v. sets. but it's also far from plain sailing in japan figures they're just our show exports dropped 6.8 percent in june analysts attribute the poor figures to disruption caused by global trade conflicts a slowdown in chinese growth and low business confidence the latest sluggish export
figures have prompted speculation that the bank of japan could be preparing to introduce new stimulus measures at the end of the month. well and it's certainly not just japan and south korea that are dealing with economic turbulence the international monetary fund has just released a report warning that the economic conflict between the united states and china is curbing trait globally. this year's external sector report shows that the world is doing less business with itself confused with the i.m.f. chief economist explain we are seeing global growth global trade grew old slow which tells you the this is not just about shifting of trade to different parts of the world but in actual overall reduction in in trade so this is having a fundamental impact on global trade the i.m.f. points to international hostility as a cause global financial leaders have made no secret of the fact the trade war between china and the us is having an impact but i.m.f.
economist peter gopinath says the bilateral imposition of tariffs has not had the punitive effect intended instead higher tariffs have been associated with increased prices for consumers and a waiting on global trade investment and growth. the report urges countries to avoid further conflict and repeats a familiar refrain that along with a disorderly bracket and escalation in trade tensions remains the main short term risk to the global economy. now who is in charge when it comes to drilling in the mediterranean ever since trillions off cubic meters of gas or natural gas were found off aside a dispute over ownership has been bubbling away between cypress tekkie and greece they all claim drilling rights responses with billions of euros geologists say the deposit could hold as much as 3 and a half trillion cubic meters of fossil fuels
a windfall for europe's energy industry for show up the area off the southwest coast is especially contentious the european union says only cypress has the right to drill there but turkey has also staked a claim sending several ships to hunt for gas and the e.u. has responded with sanctions which ankara calls worthless for more on that issue i'm joined by helen my our investment research analyst at the share center in london good to have you with us so 1st of all fill us in what is at stake here what's the economic potential of that particular gas field. well there are of fairly large resources i've been discovered in recent years the largest actually discovered across the world although in terms of size it's still fairly small in comparison to what the russians have and what there is in the middle east but you know for for cyprus and for turkey this is going to be fairly significant amounts
of turkish government estimates that the sales at the upper end could be in the region of 9000000000 but i think the big strategic issue here is for both for the e.u. cyprus and for turkey is you know this is an energy supply that could reduce the dependence on russia so it's really about security to a certain extent as well as the economics and obviously there is a huge dispute about to the actual drilling rights who is allowed to drill there turkey says we go ahead now they face e.u. sanctions is it worth it. well her thing the turkish foreign minister has actually rebuffed a lot of the sanctions and have been not really worth they're not that damaging to them and therefore they will continue to drill in those regions i mean what the turkish is are saying is that they are looking after the interests of the turkish cypriots who feel as if they will get a fair share in any any deal but no funds have been set up they're asking for negotiations with the greek side the greek side or the e.u.
side so you know this is their exclusive right so you know the tensions are going to keep brewing but unfortunately turkey if its current environment is you know is picking fights with the west and unfortunately it in the future it could result in further sanctions so it isn't at all clear who owns which drilling rights to this natural gas or is it not clear. well i think that there are competing issues here competing rights when the turkey has the extended economic zone which goes off to the west of of the cypriot i learned that is disputed the turkish republic of cyprus their economic zone. in capsule is the north south and east of the island. then you have the europeans and cyprus so you know there is no clear definition as to who owns what that's going to be the issue i
think going forward. it's it's a troublesome issue i think for now it does require i think some kind of international arbitration as to who owns what. so will be a difficult one and it will go on for a while you're. there for the share center in london thank you so much for your time and for filling us in on this thank you. how serious do governments take facebook's plans to launch its digital currency libera next year serious enough that finance ministers from 7 leading global economy spend much of wednesday talking about how to rein in the coin. the castle north of paris provided grand surroundings for the big discussion of the day arriving in shanty financial leaders said they were determined to ensure the regulator recrown was prepared for the arrival of facebook's libra. gives even
finance the g 7 finance ministers and central bankers sitting together here all have grave concerns about facebook's proposals and have set themselves the goal of very carefully checking that all current regulations are being complied with and checking whether the rules need to be changed for the future so that we can ensure the stability of international financial systems systems ground. 0 if labor is to be used for payments it will have a significant impact on the economy and financial system if facebook wants it to be used globally countries must seek a globally coordinated response. are you listening. central bankers don't appear to have been at all convinced by facebook's assurances that it has no intention of competing with sovereign currencies i will only launch libra once regulators are satisfied. to system around the table wasn't limited to facebook french finance minister bruno lemaire used the opportunity to his counterparts to join
france in taxing many of the biggest internet firms. and a cool new this is an agreement between the g 7 nations would be decisive if we don't reach consensus that this level though over these 2 days it will be very difficult to reach consensus among the 129 members of the o.e.c.d. . shante has a great history of horse racing mr lemaire was treated to a tour of its famous stables with challenges such as leave on their way the g 7 seems determined to get a head start. netflix is still the king of streaming entertainment but investors are starting to wonder how long it will keep its crowd streaming giant has reported weaker than expected subscribe. the growth last quarter in total $2700000.00 new subscribers joined the service worldwide that's well below what investors had expected on the news knocked almost 12 percent off next flix a share price analysts to blame increased competition in the streaming market from
rivals like won't disney and h.b.o. for the disappointing result. got to rise from cambodia is very popular in the european union it's only a market nisha come bodie and rice farmers but one that promised a stable income but ever since the e.u. introduced due to its on again the rise imports business is dwindling. preparations for rice cultivation. in the province of prey have a care in cambodia farmers often cultivate only small plots of land. jasmine rice will be planted on this field the variety is particularly popular with gourmets in europe the rice farmers are under contract with the company armorer rice which finances the cultivation and to make specifications no artificial fertilisers or chemical pesticides may be used. by the time when the.
be up for many years the prices were very low in 2015 we started to grow organic rice and since then we've earned more than them all i hope it'll stay that way in the future. any less than they did oppose the idea that man love it because . with the export of organic jasmine rice the company created a sales hit in the e.u. it even built a modern rice mill for around $9000000.00 u.s. dollars but it's questionable whether the investment will ever pay off a company boss songs around was confronted with an import duty of $175.00 euros on every charge of rice headed for the e.u. and suddenly they cost tax to cambodian right it's nothing it's a thing that a policy to do what they've been doing you can move here again try the promotion of comedian rye and try to put and pluck some of the right today to do much good by
posting tax it's not it's not fair the e.u. imposed custom duties on rice under pressure from the rice growing countries italy and spain and orders for anne rice have tumbled by 30 percent at the mean time comodo try to find a new. china. that we would like because of. you know comply into the e.u. the e.u. market most recently i'm a rice with its approximately 4000 contract farmers had a market share of 30 percent with its organic jasmine rice in the e.u. apparently too much for brussels to continue its much acclaimed free trade. and that is your business update here on w there's more to come so season.
world. to protect the climate to screen image submissions and the forestation. interactive content teaching the next generation about environmental protection. using the channels available to inspire people to take action and more determined to gain something here for the next generation the idea is for the environment series of global 3000 on t.w. and online. to. welcome to our culture 50 years off of the lunar mission we'll be looking at the moon in the movies also coming up. bakir on the inventions of greek design a katherina come provide anything but practical that's what makes them so much.
a box a bit too practical t.w. is rachel stewart has come extremely well prepared to explain germany's national obsession with hiking. 50 years ago the apollo 11 spacecraft was on its way to the moon when the astronauts landed and live pictures were beamed into our living rooms it altered off a section of the moon and indeed out as space and in films the whole perception of the moon changed as well is some examples of the moon on film starting with real pictures of masses achievement off a century ago. it was perhaps the greatest human invention of old time. line on television. a new documentary apollo 11 tells the story of the 1st manned moon landing it features digitally restored footage for the next is archived