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tv   Business - News  Deutsche Welle  October 18, 2017 7:15pm-7:31pm CEST

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a win against celtic is a must if the hikers honeymoon is to continue. you're watching news still to come on the program china says that it is open for business but it has said that before investors want action not just words all eyes are on their jang with the communist party congress underway looking for signs of how the chinese economy will develop it could soon become the world's top economy that story and more and business news with that fizzle at. the up to date now on day to be a news thanks so much for watching i'm seroquel and assume that's. make your smart t.v. even smarter with the w. four smart. what you want when you want it. up to date. extraordinary. depth. you decide what's on. sunday
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morning head to w. drug store. why forty million people in east africa threatened by starvation what are the causes of the situation. we focus on five specific problem areas. this huge journalistic project tries to find answers why africa goes green our topic this week on w news on mine. at the. opening up chinese president xi jinping kicks off the communist party congress trying to convince investors his economy will become more open to the world. doubling down at the same time beijing threatens to make the great firewall
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of china even more impenetrable cracking down on b.p. ends. and turning the page on a greek tragedy after years of economic hardship leaders promise growth is said to return. bed physical and let's do business investors call it promise fatigue they want action from china the leader of the world's second biggest economy has cast himself as a champion of globalization but in president she's first term he disappointed many on market reform this time he opened his week long party congress with more pledges to protect the rights and interests of foreign investors he said all businesses registered in china will be treated equally that's not how it is now and she wants to strengthen state firms foreign business groups see that as a push to foster home grown companies. and raising joins us now from singapore and
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conrad booze in from frankfurt and brian let's start with you what signs a year seeing suggesting she could get somewhere with economic reforms in a new five year term. well but he started with a detailed report card of his achievements as for me in the first five years and he's looking ahead with details of how he's going to face the challenges that are going to face shine in the next five years so that's a positive optimistic direction that he's trying to take a lot of it a lot of mention words on china really fall in the markets as well and financial systems that particularly close attention to the exchange for you as well as its currency as well as its financial systems at the core of it all what about china's debt there are growing concerns the accumulation of credit could trigger a financial crisis. you know it's interesting china's bad spoke in
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a whisper of this debt mountain over the course of the last few months this year and we've not heard much about it and what they're going to what they're going to do about it we might be relieved to hear that part of these reforms that he has mentioned does involve reforms in the fiscal systems and he recognizes that a lot of that has started with the local government debt as well which is what's causing the pileup ok so china has been talking much about that but what about european car what's the take from frankfurt on chinese day. well the fact that the chinese didn't read it or that the president there didn't really talk a lot about that is what people call here an elephant in the room because everyone here is discussing a lot about the large amount of debt in china the international monetary fund estimates that the amount of debt in relation to g.d.p. in china is that two hundred and fifty percent this would be called totally
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unsustainable here in europe a country with such a high debt to g.d.p. ratio would not really find it easy to get credit on the financial markets what's positive or why this is contained in china has to do with the fact that this is mostly domestic debt i mean it is debt to chinese creditors the chinese have large amounts of holdings are in foreign currencies that's sort of muffling. the risk there and. of course this contributes to the fact that you know the risk by ratings agencies is seen relatively contained s.n.p. recently lowered the rating to a plus not very bad but the chinese at the time were not amused ok well let's leave the elephant in the room for the moment and ken foreign businesses really expect equal treatment with chinese firms all of
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a sudden. well what you mentioned earlier about promises that see that very well and fortunately a lot of top foreign investors and economists are not very optimistic about that promise even changing all of this they're really just serious see more of the same of. the same story just different versions of it i think that market open this really at the end of it is still going to be secondary to the. focus of the fall conrad there's no doubt the chinese economy will soon be number one but what sort of economy will it be do you think we're going to get another usa or another europe . well it looks like in terms of economies china wants to be sort of both they want a strong services sector they want a strong consumption by private households but they want to remain a big manufacturer and they want to be market leaders in terms of technology it
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looks like you know especially the technology part makes competition tougher in the future for us here in europe also for the americans and also despite what the president said there in beijing today about more openness it's likely that this is continuously going to be a very much of a top down managed country and economy. and for us there in frankfurt and and reading in singapore with a financial analysis on china thank you well president she's promise of an open economy sounds nice but what about an open exchange of information internet censorship the so-called great firewall of china is a problem for outspoken chinese and foreign firms and the government's threatening to crack down on v.p.n. its. name calling is a german company that provides data system consultancy to foreign firms with operations in china. the beijing government is now planning to block access to
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virtual private networks all v.p.n. . encrypted connections that tunnel data traffic to a proxy server. p.p.s. cost just a few euros and have become a critical tool for secure communication between foreign based companies and their headquarters. they're also used by millions of individuals to circumvent china's censorship system. because. most of our clients are very concerned. if not horrified upon it. because of how dependent they come on v.v. ends. for been. the author of interfered with b.p.'s before especially in the run up to communist party congresses but the regime had appeared wary of enforcing a complete lockdown on v.p. ends probably out of consideration for the business world but in the new year beijing will order telecoms providers to close the data tells us if this is serious
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this time they mean it and they'll go through with it too. many details remain unclear. but for the european business community in beijing china's internet policy has always been troublesome. we see it as kind of sort of a tax on doing business in china and and that's not good for trying to you what we're looking at creating more productivity more efficiency in the economy certainly ensuring that companies have readily timely and stable access to information is important and it hurts foreign companies even more and there's more in store for those companies a new law on cyber security introduced even more rules to an already highly restricted technology regime certain data may now only be stored on the main one for example for foreign companies in particular the assessments and adjustments involved will be a major burden. it's in the service ultimately the cyber security law means that
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you're not being compliant you can get your company into serious trouble. you could even mean the company being closed down or having to disclose all its data and no company want to start this mission we're going to get to my. what is already clear is that the new law will make life difficult for smaller foreign based enterprises and prevent others from even starting up here. by mr alexis tsipras of greece says his country is turning the page after all that economic hardship forecast is for growth at two percent this year but where is his goal of quitting its bailout program next year is a little over mr overly optimistic. warm embrace for christine legarde the head of one of the institutions keeping his country afloat the greek prime minister and the i.m.f. chief both won greece to return to self-reliance as soon as possible with that in
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mind alexis tsipras presented an optimistic outlook for the future of the greek economy. after several years of economic depression. greece the stunning pates. i q three six and seventy have subsided. economic recovery is gaining traction indeed the two thousand seventeen expected growth rate of. approximately close to two percent of smoke been seen something like that since two thousand and seven but is the outlook really that rosy let's take a look at the numbers one in five greeks are still lies of work figures released by the country statistic agency on tuesday showed that the economy actually contracted last year and g.d.p. at one hundred seventy six billion euros was down from the year before those
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figures have come as a surprise demanders had been expecting modest growth despite that the i.m.f. appears ready to support greece's desire for an imminent exit from its third bailout program i believe that a resolute implementation of this program together with an agreement with the greece's european partners on debt truly are essential to support greece return to sustainable growth and a successful exit from any official financing a soon as next year after three bailouts and years of a staring greeks are keen to wave goodbye to their creditors but for that to happen the numbers will have to match the optimism. from a business with a. enters
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the conflict zone confronting the powerful. it's a year now since hillary clinton lost the us presidential elections of donald trump and the democratic party has gone on losing in state elections around the country
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my guest here in washington is near a tongue the a long time advisor to hillary clinton while the democrats finding it so hard to find a new direction. next couple. on the first steps of central asia. an expedition in search of an ancient denizen of kazakhstan the saigon antelope species since mammoth time. there year ago scientists found evidence of a mysterious catastrophe i saw with my own eyes the first did saigon's like that. which killed so many of them and or those that are alive endangered psychos in distress find out more in our interactive internet documentary f.t.w. dot com site gus. take a trip to a world of boundless ambition. meet young entrepreneurs eager to tackle global
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challenges. join which of that's not the german entrepreneur award winner two thousand and fifteen as he travels through asia looking for the next big business idea. pick a troubling you really are passionate about because if you're going to stick to this for a long time and it's something you don't we like them it's hard to keep on pressing our ten part series founders valley starting october twenty third. on g.w. . it's a year now since hillary clinton lost the u.s. presidential election to donald trump and the democratic party has gone on losing in state elections around the country my guest here in washington is neera tanden a long time advisor to hillary clinton why are the democrats finding it so hard to put the past behind them and find a new direction.


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