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tv   Business - News  Deutsche Welle  July 9, 2018 1:15pm-1:31pm CEST

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mass crash took out some of the front runners in the one hundred eighty three kilometer ride through western france one of those involved was the colombian fernando got it yeah who won that the first stage to take hold of the yellow jersey of the remaining sprinters fought it out for the finish line with so bach and peter sagal and powering at home. and with that you are up to date on the union's. climate change. waste. and it's a good time for good. for good people and projects that are changing the ones aren't for the better so just to make a difference. for go. w. . germany. the most colorful. the
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liveliest. the most traditional. find any time. check you with a web special. take a tour of germany find state. d.w. dot com. the sterling rallies invest a suspect on ice so the british depart show from the european union after u.k. breaks and secretary david davis resigns and downplays any risk to the got them. also coming up forced into a strong that economic alliance the leaders of china and germany need to off hold free trade and talk business. donald trump wants to sell more american cars to europe it blames high tariffs on the imbalance of those turrets mostly good. german
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cars made in the u.s. . welcome to do business markets have been jittery following the resignation of britain's bricks and secretary the pound sterling lost around a third of a u.s. cent on the news before bouncing back to its highest level since mid june this is analysts expect the departure of david davies could boost market sentiment for a long time euro skeptic was a critic of plans to allow the free trade of goods with the e.u. davis said a new minister was needed who was more enthusiastic about a softer bricks it is shrugged off suggestions that his resignation threatens the survival of the british government. but what about the survival of those breaks in negotiations let's cross over now to frankfurt where my colleague last is watching the markets last tell me how are we doing this monday morning in the light of this latest bricks of development. i want to show you just that analysts are expecting
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a little bit of a boost for the market i wouldn't go that far we're not seeing any kind of boost this morning but we see markets slightly up on what is certainly good news for markets in general because with david davis what is out here off the whole negotiations is an absolute hard liner somebody who wanted heartbreaks it and that is exactly the opposite of course of what the companies want to the european companies as well as the british companies just over the last two or three weeks we had air bus we had jack you're out with the n.w. siemens a lot of other larger companies warning threatening that they would drastically scale back their investments and generally their presence in the u.k. in case of a heart break said now that seems to be a little further off the table and i want to just make clear how important that is to the business is by just quoting what we just heard from the director of the confederation of british industry she says the number one priority for british firms in terms of trade is the european union and she says further unless and until
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you have an alternative way of reaching frictionless trade a customs union is the right answer so very clearly. businesses are elated here so not a bad day for business. talking to us from the frankfurt stock exchange thank you so much. turkish president richard type add to on is preparing to be sworn in today and investors are wondering what to expect as he takes on expanded powers in his second term in office turkey's economy has struggled since the attempted coup two years ago which raised questions about the country's stability the lira has tumbled and growth has been propped up by government spending and on sunday another eight hundred thousand public servants were hired accused of threatening state security they could be the last casualties of the state of emergency imposed after the crew because ad one has pledged to lift it is also expected to give a speech after the in all good. nation and which he will outline his vision for the
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economy. in the trade dispute between the u.s. and e.u. washington assumes american carmakers would sell more cars in europe if imports tarasov ten percent well know it but in germany at least the vast majority of us made cars sold here are actually from us based factories of german car makers all of b.m.w.'s x. model s.u.v.s for example are imported from america still a small group of enthusiastic for real american cars face hurdles before they can drive their cars in europe these cars have just arrived from the us but before they can clear customs and bring them there brake fluid needs to be removed it's considered toxic waste in the e.u. taking the liquid out costs two hundred euros per car and it's not the only expense when importing u.s. vehicles. as it once you've got the maritime transport with all its costs packing
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unpacking handling customs clearance then you have a ten percent levy on the purchase price and the maritime transport and then nineteen percent value added tax on that total price plus the retrofitting friedrich count often lived in the u.s. for years and has close connections to car dealers his company doesn't only handle new cars but also classic models for enthusiastic if the paperwork is ok importing them is no problem. but some years we have forty percent new cars sometimes sixty percent the rest is from ex-pats or used cars. the small firm imports about one thousand cars per year the vehicles have to be retrofitted to comply with the regulations so they can pass technical inspection. us cars often lack fond lamps and separate yellow turn lights moreover there can be no yellow blue or red lights in the front of the car. good these stripes still had yellow lights this morning i
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had to take them out it's not allowed in germany parking lights always have to be white the retrofit can be tricky the company even developed its own switching relay to make american and european technology more compatible most u.s. carmakers don't have the european market in mind in germany the best selling american car is the ford mustang which is still a niche product. and order for today a german car with a vs motor costs at least one hundred thousand euros my guess the v. eight ford mustang costs about forty five thousand euros that's a huge difference. and believes neither the one thousand euro retrofit nor the ten percent duty really prevent customers from buying american cars the vehicle simply don't cater to european tastes. chinese premier league is in
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germany to meet with chancellor angela merkel the leaders are attending a forum on economic and technological cooperation china is one of germany's top trading partners and both countries have similar ambitions when it comes to the future of manufacturing the german strategy is called industry for dot au in which smart machines to find the next step of industrial development it's the blueprint for china made in china twenty twenty five program which has come under criticism from u.s. president donald trump following claims of the take shift the plan aims to make china the world leader in ten key sectors including electric vehicles information technology robotics the german chinese talks on cooperating in these fields comes as washington cracks down on some chinese firms doing business with the u.s. .
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for more on germany's and china's plans for industry and how they fit into the current global trade scenario i'm joined by horst a national economist at the franklin school of finance hopefully you can hear me german industry of course hopes that the forum today will need to a joint declaration in support of free trade also in response to washington's protectionist policies but how free is trade between germany and china really. well force some restrictions on the chinese but also into terminal european side of course the restrictions in china especially with regards to foreign direct investments from germany to china or also for business of german companies in china however having said that things are moving in the right direction as already mentioned china is the largest rate pop now of germany we have
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a lot of companies german companies making business good money in china also would suggest strong german interest to continue in the sway of course china should open up more the industry as well while the german exports to the united states has dropped recently could stronger trade alliance between europe and china compensate for the losses incurred by trans america policy. to some but not overall seeing because it is a specific export of imports between the united states and germany and disk can be not compensated by china especially with sweets regards to machinery but also to digital services and so forth and so forth we have a different trading flow flow between truman in china so only partly so at looking at this this forum that is taking place today and also looking at germany's
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industry for when beijing is made in china twenty twenty five where do you see synergies that would benefit both. now first of all to develop china twenty five first of all china and the chinese companies needs modern machinery right high tech technology and of course it is a less overseas machinery it can be largely provided by chairman a company is the first one the second of all news that can be also challenge when chess cooperation in dust for corporations of a tree chairman e and a chinese company and last but not least of course we have also foreign direct investments from china in chile many so far we know that this is very good for for for the chairman development and there is no transfer of technology from chairman eat to china so far but these trends in e determine the economy overall so does a lot of us in a cheese between germany and china with regards to industrial development or i just
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just briefly perhaps are there any risks when you look at closer cooperation infinit jase. yeah of course also wrists we have to take care that of course churman companies stay competitive we have also to take care that somewhat does mutual foreign direct investments more or less on the same level playing field that means opening up for chairman business in china as well all right. to let your brother economist at the frankfurt school of finance thank you so much for your time. most welcome and that's the business update here in g.w. thanks for joining us. and.
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