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tv   Business  Deutsche Welle  July 30, 2019 8:15pm-8:31pm CEST

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will have been remembering the 8 year old boy who died when he was pushed under a train in frankfurt a man has been charged with murder and authorities say he is being examined by a psychiatry. you're watching it every news up next is business africa been physically when and i'll see you again tomorrow same time same place same. birth. home. of species. a home worth saving. given those are big changes and most start with small steps but googling dia's tell stories of creative people and innovative projects around the world. but those that control the climate deuced green image solutions and the 1st it should. take root interactive content teaching the next generation about
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fundamental protection. using points channels available to inspire people to take action and were determined to build something human for the next generation globally as the environment series of global 3000 on t.w. and all mine. not the sort of record you want to break south african unemployment jumps through its highest level since the global financial crisis. symbolically struggles analysts describe the president's 1st year in office says a period of indecisive and experimental of 6. at a global stock slump u.s. president donald trump lashes out at china as u.s. the go she is arrive in shanghai to resurrect trade talks. adventures all and let's do business. as the pressure is piling on south africa's president cyril ramaphosa
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pledged to turn around but the economy is shrinking and lines the job center is growing south africa is the confidence industrial engine and arguably its most important economy but a slowdown has plunged the country into crisis during the 2nd quarter of the year unemployment rose to 29 percent every 2nd young south african is unable to find a job the hardest hit sectors of transportation mining and finance companies struggle to continue with power outages that can last hours and the outlook is not promising. joins us from cape town ellis is it going to get worse before it gets any better yes it's definitely the fear because it's not just unemployment statistics but we had some obvious released recently that said is that amount of business is shutting down shopping and of course it does this business class jobs
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again also we had g.d.p. figures released and it says that in the 1st what's at hand the economy stronger and 3.2 percent so it's definitely doesn't good for south africa currently where would you say the government has failed. it's a very complex problem but basically what the problem is in south africa is that there are not enough skilled lower labor and there is an oversupply of unskilled labor part of it is historic journey south africa blacks that have been having held back by their very out of our sanctions and we still see the legacy of that part of it is also a feeling education system and then there's other issues their risk management east ration in a lot of businesses but also under governments and in the public sector are various corruptions all these things come together and presidents a real mama parson has said that he wants to turn it around even now says that the
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department will no longer be known as a department for labor but the department as well thought employment seeing this is a national crisis and wants to make it a priority and he was just elected a year in south africa and people do hope that he could bring some sort of a change well as far as government policy goes what what's the what's the effect of pouring billions into bathing outstayed for you know is there a big issue here on inside africa and of course those abilities that you know spend elsewhere it's also absence a lot of south africans i mean you're forced into unemployed and that is because the reason while a lot of the state companies need to be bailed out as management and corruption and so a lot of people are saying where is that money going some of poor does is legitimize it in the sense that our utility company ask it has to be it out because it does no power at economy of course and also not through act but there are more question marks for example being out said african the airlines that still be done do you or
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do you just need to give up that cry. that money. was just one more question what about the pressure that's piling on from a parser is that going to make a difference. you know there's definitely a lot of pressure on me and on the whole way you see the community lot of people being very unhappy which didn't even see a car to get liberated next from apartheid and me on jacob zuma who was the president of your circle of course and i think a lot of people voted for him because he did promise plates he promised anticorruption promised transparently and transparency but mainly he also said he would get more investment and more job so he's under a lot of pressure and it's not an easy climate for him ok alice great to get your take on those unemployment numbers for south africa thank you very much south african electricity utility eskom has plunged even deeper into the red it reported
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a net loss equivalent to one of the half $1000000000.00 in the last year as to be 10 times the previous year's level as can officially blamed lower sales and increased transaction costs the utility supplies the vast majority of south africa with electricity but it is my it in debt and has aging infrastructure that has led to widespread blackouts repeated bailouts by the south african government haven't helped. well this is help the bubbly and say their economy is worse than ever devastated after years of corruption and incompetence mostly count of living and dying poverty struggling with an exponential inflation rate it's skyrocketed from 4 percent just a year ago to 176 percent last month it's the highest in africa a decade ago it was even worse back then a loaf of bread cost billions of zimbabwean dollars that's why the currency was taken out of circulation the nation turned to foreign currencies like the u.s.
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dollar or china's you want full legal tender then the g.s. dollar was introduced a few years back a kind of government debt obligation last month president. reed named it the zimbabwean dollar he declared it the country's sole currency and banned allow others since then food prices have doubled well there's very little hope left that money will be able to lift the economy out of that maya privilege was fun here it joins us from the zimbabwean capital harare privilege one year on the economy is in freefall what's fundamentally wrong. it has been eventful year for. coming one year now 51 july to be one year since these election most of the things that are happening are structural you find a lot of policies that have been introduced trying to reform the corner me but
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they're not pulling together because it's more or less like half the introduction of the policies without consultation of all the stakeholders that include your business. and government government has been introducing all these policies where they come up with an introduction of binding the u.s. dollar and everything so they've been coming just like a bombshell is being dropped on the people but without proper consolidation when they try to solve one problem they are creating another and without real notice it was a ministration band the use of the u.s. dollar and other foreign currencies basically overnight to return to the local currency but what difference has that made the difference that has come. that they're put on market used to be running away from like the interbank exchange rate at the moment they're just
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going almost nick to nick or. higher. market will be in much higher than the interbank exchange rate but in terms of then the liquidity in the market and even the provision of the foreign carriers that is needed to import. duties to you on demand and you know these not much difference in terms of. for the ordinary person because prices there are still high despite their dropping off either part of the market rates just just a yes or no from you is is there an end in sight to what the country is experiencing. definitely. there if the president wants to reach out to all stakeholders. what is needed i think is social cohesion within the country because there are a lot of division. in 2008 but remember there are
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4949 percent of the population did not vote for him he needs to reach out to that even to the opposition is no longer a moment where he can. but it's not only an issue of putting heads together with everyone in the country and make it a national issue for them thank you very much. india is seeking to strengthen trade ties with west africa president. on a week long visit to benny gambia and guinea didn't it's his bed and needs counterpart to sign your 1st deals says they'll make india been the biggest trading partner in the year agreed to extend a 100 $1000000.00 line of credit to binny and fund development projects. anybody of hope faded as donald trump took to twitter today top american and chinese trade officials are trying to resolve a year long hour of conflict analysts don't see a quick fix to the u.s. leaders see action on the horizon warning china not to wait to do
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a trade deal wrote my team is negotiating with them now they always change the deal in the end to their benefit that's it stock markets tumbling. after months of deadlock the u.s. delegation has arrived in china's financial capital shanghai trade representative robert lighthouses are on treasury secretary stephen newton are due to spend the next 2 days around a table with chinese vice premier her trying to find a deal for 2 sites however as far apart as ever the u.s. is pushing for an end to unfair practices as donald trump likes to describe china's economic policies these policies include billions of subsidies which keep chinese prices artificially low for its part china wants a deal where both sides make concessions. so far the u.s. has imposed customs duties on chinese goods valued at $250000000000.00 china has responded with tariffs on $110000000000.00 worth of goods and all $360000000000.00
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worth of merchandise is affected by the trade dispute. to avoid further escalation trump and chinese president xi jinping agreed to a form of cease fire at the osaka g 20 in june however heading into this round of talks there is little sign of agreement from either side. we spoke to an expert on china richard mcgregor and asked him how likely it is that china will back down i think they're settling in now for a long trade war they're not nearly as exposed to the u.s. as the market as they once were they're not nearly as reliant on export exports as they once were now i think china is hurting it's chinese private companies which the exporters are hurting most china sort of a premier technology company our way is also under a lot of pressure but i don't think china thinks it will get much by giving way away to the u.s. so they're really settling in for
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a long term battle. finally investors looking to get a whole finch for the rising global demand to beat and get a piece of the action thanks to a south african app called my phone book yap allows best is to buy shares in a cow starting at $576.00 randall $36.00 and pays out between 5 and 4 percent interest once the animal is so the slaughter. project was started 4 years ago and now includes a 2000 and a. i said business with a. kick
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off. the. news it's a kind of culture walk. me a phenomena. reframe a look i'm going to leave a. d w. it
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is going to. join link to africa. the link to exceptional stories and discussion on the uses easy to our website to double that comes from the topic of join us on facebook for god. this is news africa coming up in the next 15 minutes and that of missing journalist in tanzania eric up in barrow was taken by unidentified men from. on monday often it is useful to be in peace custody the hash tag 3 erica that has been trending in the country. and fury over the full us will find out why ugandans are angry over government plans to build an energy dad near the famous murchison pulls. the civic center doesn't.


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