tv Business Deutsche Welle November 8, 2019 5:45pm-6:01pm CET
and let's do business china's foreign trade continue to fall in october exports drop slightly imports plunged trade with the united states is down almost 16 percent the trade war is making its mark on the world's 2 biggest economies and it's unclear if there's an end in sight the day after beijing announced an agreement between the 2 governments to roll back tariffs or hordes of backpedaling from washington. u.s. firms are among the thousands of companies taking part at the china trade expo they're hoping to keep doing good business in the country despite the trade dispute . the statement this week from the ministry of commerce in beijing is likely to have raised their spirits. or should andro over the past 2 weeks the chief trade negotiators of the 2 sides had serious and constructive discussions on how to resolve their respective core issues and agreed to cancel the other tariffs in stages. so he seemed at 1st she shouts i don't question.
for their part the united states confirmed the statement the trade conflict has hit growth slowed investment and continues to weigh in the global economy the international monetary fund welcome signs of deescalation we welcome any steps to deescalate the trade tensions and to rule back recent trade measures which you just mentioned and particularly if they can provide a path towards a comprehensive and lasting agreement so is this the 1st step towards a co-operative future no sooner had hope broken i've been doubts began to set in again insiders say there's already opposition building within the white house to removing the tariffs. market analyst franco berridge joins us from london now let's talk about bad communication with something we've got used to with a trump administration but something that the chinese is seeming to struggle with.
yeah that's right i think the root of the problem is the fact that policy at the white house is being made alternately directly by the president often with the no input or even contradictory import from various advisors so the result of this is that as we've heard this week for example with could lose recent statements the senior advisers like to add a lot of contingency into the communications they put out and even to say a deal is being reached out ways make it contingent on final approval from the president and as you said you know chris sort of a messy communications environment and you can see financial markets reacting to that 1st sort of sentiment driven often on the room or even one little true woods and you'll see quickly a risk on risk off or sponsor a fixed income equities and foreign exchange what then is it going to take to clear all this uncertainty. i think is 2 questions is firstly what's going to take
to get this phase one deal done and then secondly the real question is what's it going to take to clear the uncertainty that's currently slowing global growth firstly it looks like there is a lot of action both in washington and beijing to get the phase one deal done and that simply so that the worst and most damaging tariffs can be removed because as we've seen from the white house's behavior they know that the latest round of tariffs will hurt the u.s. economy they want them gone so there's a strike at phase one deal the real question is will we then see global growth improve we've seen investment in particular trucked off globally and now it's even happening in the united states with the economy is robust until recently the businesses are no longer investing and the problem is that uncertainty in and of itself slows growth so even the phase one deal is done the risk of for the escalation or indeed miscalculation from by the side may continue to hamper global growth for some time and just briefly then there is also the question of further
blowups. yeah of course and i think miscalculation is the key thing here because we know the chinese will forgeries will have reached the same conclusions that any observer can reach the viewer ministry of the us administration is thinking of the political costs of the straight war heading into the 2020 election so the risk is that the chinese side actually tend to overreach in terms of the concessions that they expect and then in the interest of saving face or perhaps in another sort of 4 am to if it don't trouble call the whole thing off is to be fair has happened before this year so there is a real risk of that blow up and we're seeing that already affect and weigh on investment i'm a follower on twitter i won't miss it rather berridge thank you very much for joining. while countries around the world it is gusting how to best implement 5 g. technology china is a step ahead of the ministry of science and technology has officially started preserve 60 telecommunications technology a group of experts from universities research institutes and data prizes is
responsible for developing the stat it 6 g. could be available for 2030 owners. german exports rebounded more than forecast in september elaine fears that europe's biggest economy could stumble into a recession the jones it's just it's office says seasonally adjusted it's 40 increased by one and a half percent of the month the biggest increase in so you have a 2017 data published earlier this week painted a mixed picture of the industrial sector with a panel of economists advise of the government saying germany's long term upswing and come to an end. let's go live to frankfurt to chelsea delaney shows he how much of a surprise is this used up new data. it's certainly a surprise and certainly relief given all of the really gloomy data that's been coming out of germany over the past several months looking into the route to the details of the report sort of the hardest hit areas of german of the german economy
seem to have rebounded so trade to the u.k. was a lot higher trade to the u.s. was a lot higher there was a continued decline in exports to china but i think seeing increases in exports to china or to the u.s. and the u.k. was definitely a bright spot also there was an increase in exports to be to the end that autos that sector as well which has been hit very hard over the past several months i think now there's the potential that germany could actually avoid a technical recession because of how strong this data was there have been at pretty much a consensus here that germany was going to fall into recession after seeing growth the kind in the 2nd quarter looks like they may actually be able to avoid that now . to finish the week going to good use but still weak is this going to be just a blip it certainly could be this data doesn't really fit with the past few months of trade data that we've gotten out of germany so it certainly
could be a one off anomaly it also comes as there's been a lot of kind of confusing mixed data out of out of germany as you mentioned there was and just real production data earlier this week that was quite negative in that there was also industrial order data that was quite good so it's hard to tell what the signal is from all of these mixed reports but even if you even if. this is part of a trend germany's economy is still it is still slowing so it's not necessarily you know. glowing economic time for germany shows you lenny for us with the you know this is from frankfurt thank you. now to some of the other business stories making news the world's wealthiest were a little less rich last year billionaires well fell by $388000000000.00 globally to 8 and a half 1000000000 the political report by u.b.s. and people you say it was a chump decline in china the 2nd biggest one from billionaires to the united states
. of tons a cabin crew a striking for a 2nd day over pay most of the airlines flights from germany have been canceled for friday kerry says they could be knock on effects for flights on saturday. well it was one night that changed europe the fall of the berlin wall 30 years ago it changed a lot for private business owners to what widely accepted in east germany what they stood for went against communist party philosophy in our next report we made dec who experienced all the ups and downs before and after the wall came crumbling down . this lady has been spinning in the dudek machine building factory for 30 years the company is located in the eastern part of berlin c.e.o. johann dudek has 35 employees he founded his company in former east germany in
1986 the government back then tolerated private companies because they called him a needed so much help back then you 100 it did lots of jobs for the east german government but he soon realized that east germany was broke you should know how limited they had reached their limit and it couldn't go on like that or. i think that at one point in the stasis all that and no matter what they tried the situation couldn't be helped. his office is full of souvenirs spanning 30 years after the fall of the berlin wall the east german businessman an experience of the way of capitalism was ripped off a few times in the beginning when he looks at this picture he remembers. we finished and delivered the orders but they only paid us half of what they owed us. bickered. yohan dudek experienced all the risks that business men face now
after years has finally paid back alone he took out and can now afford the good life the remnants of the berlin wall a just a tourist attraction the stays is not shedding any tears for east germany. we have blooming landscapes as cold promised us just not the same everywhere but imagine if he's germany went on for another 30 years it would have been nothing left but ruins. for the 73 year old dude there's one more assignment finding a successor. part of the pop install point time has unveiled its christmas weather displays there's a lot to look at motorized animals in zany scenes everything from turkeys making music and dancing in the kitchen to a giant hand spraying itself with her feet and mice trying to escape from the department store it took 650 hours to create the decorations 10000000 people
are set to see the christmas displays but someone's getting excited about it and want to know to get even more excited if the tree tycoon. a lot more people into his store. before we go china is imposing a curfew on its under-age game it's it is under the age of 18 and now prohibited from playing online games from 10 pm in the evening until 8 am if you break it asians or restrict the amount of time and money minus can spend on online games gaming companies and platforms are also required to enforce the regulations chinese president xi jinping has criticized video games as being harmful to children. lot of parents will be thanking them for that busting business with the.
after the fall of the berlin november night double. play. play. this is a news line from a few us secretary of state my palm pilot says nato must grow and change old risk becoming upset. visiting germany for celebrations marking the 30th anniversary of the fall the. chance of i'm going to. plan increases in german defense spending. just part of our special coverage of the out of her she will take you to the most