tv Business Deutsche Welle November 9, 2019 12:30am-12:46am CET
to put. in some. degree of. rolling back a roll back u.s. president donald trump says he hasn't agreed to lift tariffs on chinese goods in order to claim the deal to end the u.s. china trade war that's causing confusion over how far along the trade talks really are. and 30 years after the fall of the berlin wall if you look at the economic imbalances between germany's western and eastern states and once one entrepreneurs struggle under communism. this is the business i'm joined now on in berlin welcome
it's been a chaotic week of mixed messaging on the trade talks with comments from president donald trump on friday diminishing hopes of an imminent trade truce between washington and beijing he said a complete rollback of tariffs on each other's goods was not in the cards he said the chinese government knew he would not agree to such a rollback but just a day earlier the chinese commerce street said the tariffs would be lifted in stages however the white house's advisers are reportedly divided on whether and which levies to remove as a response to which concessions from beijing earlier reports of both sides agreeing to an initial deal to pave the way for a broader one have now been thrown into doubt. now earlier we spoke with one experience head of market analysis ranko berridge we asked them how much the erratic communication surrounding the trade discussions were a disadvantage for the chinese. that's right. i think the root of the problem is
the fact that policy at the white house has been made alternately directly by the president often with high the no input or even contradicting important from various advisers as a 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 has been reached always 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 for more on just how the financial markets are reacting our correspondent yan's quarter is here to give us the view from wall street yang's after yesterday's highs the end of this trading week is marked with a bit more uncertainty how does it look from your end well i mean overall it's clearly it is very difficult for corporations to make investment decisions in this
environment and as you mentioned earlier it's a back and forth when it comes to the mood to when it comes to a possible trade agreement or face a one deal or many a deal as it's called here on wall street but interestingly enough investors seem to shrug it all of we had a previous strong reading on thursday and then on friday when the words from donald trump hit the wires we saw a little dip but then basically at the last 2nd day of trading the dollar jones industrial average turned positive meaning that the dow jones industrial average the s. and p. 500 also lost a composite actually of finishing the week on all new record highs. so investors taking it all in their stride now there is what trump says and there is the reality that both sides really need a deal to progress so how likely is it that we're going to see one in december. well one question is even if there is a deal reached and we have to wait and see if it's going to happen then you will
need to find a time and place where u.s. president. could meet u.s. president donald trump on friday claim that certainly the signing would take place in the united states and possibly also if we keep in mind that we have the elections coming up next year and u.s. president on the drug might want to signing it to happen in the u.s. state where i agree culture for example is a pretty big but then we also shouldn't forget that the shopping season the holiday season is coming up and theoretically there is still this date december 15th where a new set of terrorists actually could take place but overall the market at least seems to be quite hopeful that the 2 might find an agreement sold to a not actually hinder good shopping season here in the united states. wrapping up the trading week for us thank you very much. now to some of the other
business stories making news tons of cabin crew stayed on strike for a 2nd day over pay on friday most of the airlines flights from germany were canceled the carriers says there could be knock on effects for flights on saturday as well as the schedule gradually returns to normal. the world's wealthiest were a little less rich last year billionaires that wealth fell by $388000000000.00 globally to 8 and a half trillion according to a report by the s. and p w c there was a sharp decline in china the 2nd biggest home for billionaires after the united states. while countries around the world are discussing how to best implement 5 g. technology china is a step ahead the ministry of science and technology has officially started research into 6 and telecommunications technology a group of experts from universities research institutes and enterprises is
responsible for developing the standard 6 g. could be available from 2030 on words. german exports rebounded more than forecast in september fears that europe's biggest economy could stumble into a recession the german statistics office says seasonally adjusted exports increased by one and a half percent on the month their biggest increase since november 27th team data published earlier this feat painted a mixed picture of the industrial sector with a panel of german economists advise in the government saying germany's long term upswing had come to an end. the collapse of the berlin wall quickly led to german reunification but 30 years later the division between east and west remains people living in the former east to work longer are paid less and have an overall lower quality of life compared to their western. counterparts
a feller's and streamed across the berlin wall in 1989 the economic differences are stark and west germany 62000000 people lived in one of the world's strongest economies in the east the population was a quarter of that and the economy was only 110th as strong these economic differences remain none of germany's dax 30 blue chip companies are headquartered in the former east best these companies run factories there such as fox 5 wages in the east are much lower in the west the average hourly wage is around $34.00 euro as well in the former east at 6 hours less per hour there is also disparity when it comes to productivity. this late 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. your one dudek has 35 employees. he founded his company in former east germany in 1986 the government back then tolerated private companies because the economy
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. and i think that at one point in this. 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 inexperienced in 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. 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. is not shedding any tears for east germany. we have blooming landscapes as cold promised us just not the same everywhere but imagine if these germany went on for another 30 years there would have been nothing left but ruins. for the 73 year old dudek there's one more assignment finding a successor all that glitters as a goal sometimes are diamonds or sapphires or emeralds a collection of art deco jewelry is set to go under the hammer at a southern these auction in geneva next week but one bracelet is already stealing the show. a sapphire flanked by diamonds available to anyone with a spare $2.00 to $3000000.00 in their pockets the bracelet is the crown jewel
if you will of a collection of art deco gems that will go under the hammer at the bees auction in geneva next week. this dates to 927 and we have in the say the nada splendid. created exactly at the same time $927.00. can be different in style and design also vying for attention is this emerald and diamond necklace which was once owned by princess sally ma. so the bees representatives did not hold back in expounding the virtues of its origins. the following the rules in the world come from columbia. and particular from the area of the blues i'm on. all these rules are typical of that there are production this rich ring of these
are particularly clean and absent the floors. the apparently flawless pieces in the collection are expected to fetch several $1000000.00 each just who is in the market for them remains a mystery but given that the global luxury jewelry market was worth $18000000000.00 last year demand isn't likely to be an issue. and that's it for me and the business team here in berlin thanks for watching and have a happy weekend.
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it makes them about us and it's. spying it's very exciting hop applied to all 5. cause world our touch imagery starts november 14th on d w. welcome to arts and culture as we celebrate a momentous event in german history nov 9th marks 30 years since the fall of the berlin wall in 1909 a day that changed world history marking the beginning of the end of the cold war and allowing east and west germany eventually to be unite. all this week we've been featuring stories from those heady days in november 1909 and today we'll remember the political blunder that started it all and speak to an
east german artist of his experience of that night and. things europe's top prize for cultural initiatives and the managers who make them happen. outside germany few people even know his name but good to schabowski is one of those improbable men of destiny a man who made cold war history without even realizing it the former political member is credited with accidentally sparking the fall of the berlin wall by announcing in error that new rules allowing east germans to travel were effective immediately and the note she consulted at a press conference on november 9th went missing for a while but it's now been acquired by the german state and is on display here.