tv Business Deutsche Welle December 6, 2019 5:45pm-6:01pm CET
watching the trade war is starting to affect economic growth in the world's largest cities that's according to a new oxford economics report researchers say g.d.p. growth in 9 of the top 10 biggest global cities will slow in 2020 they said the trade war in a general global slowdown is having effect american high tech regions like silicon valley will be especially hard hit over the next few years a growth in china's 4 largest metropolitan areas beijing shanghai and pictured here has been around 10 percent per year for the last decade but that's expected to slow to 6 percent over the next 2 years and the fastest growing cities in the world are in india but despite booming growth rates in places like surat and bangalore overall those cities are economic lightweights when compared to the likes of new york london and tokyo. so let's bring in our financial correspondent in singapore andrea hang. so many of the fastest growing cities here as i just said are in india
how do those what's driving growth 1st of all in those cities and then how do they compare to those top 10 cities well like you said you know the they may be the fastest growing in the next he cares but they're also the economic output from the cities on not going to be very significant compared to those global make a cities that you just mentioned now that said these powerhouses in and stick to such as i thief software development even health and pharmaceutical industries and engineering for example compared to other global cities it's home to global companies such as facebook and apple. now the report says that china's 4 biggest cities should enter the top 10 in g.d.p. in the coming years i believe 2035 it seems to me that's assuming that this trade conflict is basically a blip that it's over by then what would happen if it if it structurally changes everything. well the trade war and the outcome of the treat
war it's it's not quite critical but it's not entirely dependent on it either in terms of having these 4 cities rise up in the next few years now rolling back on terra would actually improve export to months so. it's a manufacturing that manufacturing and factory activity is going to go up again there's also the subject of intellectual property and that's relevant to the cities because it's where the young rich and impressionable chinese are living they want their about they want that apple as well it's also these cities are also where a lot of foreigners live and work and in order to attract more of these people to internationalize china so to speak that so-called international environment needs to be present and if the u.s. and china somehow which looks very far away right now managed to sort out that ip issue it means that these cities can continue to grow and boost their global tech
power. dressing joining us from singapore thank you very much. china is the world's biggest carbon emitter and also the biggest innovator in renewable energy sources as a nation that needs massive amounts of energy to feed developments but strides in the same time to reduce air pollution such contradictions are on display at the ongoing un climate change conference in madrid where china's carbon balance is critical to any plan to curb climate change. once upon a time this was a common sight not anymore over the past few years there's been a significant improvement in beijing's air quality that stands for a range of far reaching government policies most notably related to coal over the last. 5 years or so there's been a lot of improvements in beijing's air called in the air quality across northern china. that's being as a result of a lot of government measures. the burning of coal and households to switch.
heating with gas heating and also stricter emissions standards on industry still china the world's most populous country remains the biggest emitter of carbon the construction industry is especially to blame for steel and cement are both huge sources of pollution in the last 3 years the countries use more cement than the u.s. did in the entire 21st century. factories too many of them operated by multinationals have proven environmentally damaging that spirit environmentalist to provide data to ensure that consumer goods giants like dell at the dothan hate sin and keep tabs on their suppliers that environmental impact. 1st question there's always like you know we have a green policy but in china sorry i just don't know who are polluting no doubt and i still remember the 1st meeting that we're able to tell them look we hope
some data it's not just about cutting down on coal and monitoring emissions china itself of becoming a global leader in phone or energy investing more in renewables and any other country and don't borrow it. and stay with fossil fuels the op the opec oil cartel has agreed to cut production by half a 1000000 barrels a day that's the equivalent of half a percent of global output members of the organization of the petroleum exporting countries and russia agreed to the modest cut at a meeting in vienna there aim is to boost prices as the global economy slows down and to compensate for higher output from the u.s. and other producers outside the cartel. the opec has lost a bit of the influence in a joint only a decade ago why is that well there are more oil producers outside the cartel as well as internal disagreements over pricing the organization currently has 14 members for many of them oil is their main source of revenue revenue which is why
they like prices to be as high as possible here's the problem with that the world's biggest oil producers the united states and russia are not members of the cartel their outputs of around $12.11 barrels per day respectively exceed that of opec's top producer saudi arabia the thing is the u.s. is also the world's biggest oil consumer so while higher oil prices would help domestic oil companies they would tend to harm the rest of american industry. moving on meanwhile there's been an unpleasant surprise for the german economy industrial production fell sharply in october total factory output in europe's biggest economy fell by 1.7 percent compared to the previous month but came with analysts 6 expecting a rise of point one percent and it was down 5.3 percent year on year again much more sharply than anticipated. and let's go now to our financial correspondent in frankfurt chelsea delaney. these figures all seem to fit this narrative that the
german economy is on the rebound do they know i think this this and thus trail rebound narrative and germany looks about dad right now this report is being called dismal by a lot of economists it's not just the 1.7 percent drop from from the previous month if you look at the year over year decline it's about 5.3 percent that's the biggest drop in 10 years or so and it's also not just this data there's been a lot of reports this week including and gestural orders stating yesterday that was also surprisingly bad and survey data that's a little more recent through november that's also pointing to continue to climb so the conversation has really shifted over the past couple of days and now the conversation is really is germany heading for a recession and with growth already so low with stagnation really being the forecast it could certainly turn to recession a very quickly because you're in your drop in 10 years that sounds significant what
seems to be driving this fall is the car industry here in germany is it orders from china what would people say. i think it's both of those things the audio industry and the shift to electric vehicles and new emissions standards is definitely a weigh in on the auto industry here the the head of the automobile industry said yesterday they expect a 5 percent drop in auto sales this year the trade war with china in the u.s. is definitely had an impact on industry as well germany is a big supplier of investment goods to china and that's really dropped off but there's also been a big decline domestically and demand for capital goods which are things like machinery and tools so those are all sort of long term structural changes that could make this a bigger problem for germany. chelsea delaney joining us from frankfurt frankfurt thank you. and let's take a look at some of the other global business stories making news. china says it's
holding off on an increase in tariffs on u.s. imports it's also waiving a hike on levies for soybeans only goshi asians between the 2 countries continue trying to finalize a phase one trade deal 1st announced in october. and it's off after an initial hiccup space x. has launched its falcon 9 rocket its dozen for the international space station the cargo is rather diverse onboard or 40 genetically modified mice as well as christmas presents and fresh fruits for the lab 6 member crew. of uganda plans to borrow more than $660000000.00 u.s. dollars from international banks to plug a hole in its budget the government received less taxes than expected and it failed to get funds from the world bank you've got his debt has risen 30 percent in 2 years partly because of large chinese funded infrastructure projects. i'll say for a ride sharing apps well earlier this week several women in the u.s. filed lawsuits against lift over sexual assaults and cars affiliated with the
company now rival has revealed how many reports of sexual assault it's received in the u.s. in recent years the number is considerable. report made for some sobering reading there were more than 3000 sexual assaults recorded last year 235 of them were of rape this out of a total of 1200000000 journeys 99.9 percent of which was keen to point and did with that recorded incident the report which covers 20172018 is the 1st of its kind and comes just 2 weeks after it lost its license to operate in london after drivers using the app were found to have fakes their identity. and it's not just super either rifle lift is also facing pressure over its safety record earlier this week 19 women filed lawsuits in san francisco related to sexual assault or rape that happened in vehicles affiliated with the company. his hands touch had woken up
to him actually groping and touching. both lift and hooper have increased screening and background checks for drivers. lift has also pledged to release a safety report of its own but x. brits say sexual assaults often go under reported and that the problem could be far larger in scale than the figures suggest. and that's it for me in the business you can find out more about these and other stories online at www dot com slash business i'm stephen there's a truck. in
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