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tv   Business - News  Deutsche Welle  August 28, 2018 1:15pm-1:30pm CEST

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editors perform some spectacular aerial stunts but it was the thirty five year old lawrence who impress the judges most some thirty thousand spectators witnessed the grand finale of this year's world talk. this is it every news still to come the show europe aims to ban plastic bags to find out what life could be like without plastic we look at one place that's already banned the. we'll be right back. to. earth. home to millions of species a home worth saving. on those are big changes and most start with small
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steps global indias tells stories of creative people and innovative projects around the world like news doesn't protect the climate used to green energy solutions and reforestation. they create interactive content teaching the next generation about environmental protection and we're determined to build something here for the next generation bloodline dio's the multimedia environment series on g.w. . now it's up to canada as the united states and mexico sealed a new trade deal the other partner and the trade deal formally known as nafta is tight lipped about whether it will sign off on the program italy wants to take on even more debt to finance ambitious social spending plans but who's buying and plastic bag. can be terrible for the environment and some countries have taken the
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lead and banning them but it might not be who you think. this is the business i'm krista of. the program at times the months long ago she seemed to be advancing at glacial pace but now the trump administration and mexico have reached a preliminary deal to replace the north american free trade agreement the deal so far known as nafta had drawn harsh criticism by the u.s. president calling it a job killer with much of the details still need to be hammered out the u.s. president already promises that it will have manufacturers and farmers on both sides of the border. donald trump welcomed the overhaul of the twenty four year trade pact as he suggested a new name for it if canada is not included. say. this has to do they used to call it that that what they call it the united states mexico trade agreement it will get rid of the name nafta has
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a bad connotation because united states was hurt very badly by now that for many years and now it's a really good deal for both countries. u.s. negotiators were pushing for a sunset clause requiring renewal of the deal every five years but the mexican side succeeded in adding a clause that would give it a sixteen year life span with the review every six years the two countries also agreed that seventy five percent of a product must be made in the u.s. or mexico to receive tax free status trumps that a trilateral deal with canada is still possible but it's likely that we'll have to agree to new terms on the automotive sector he has put the car industry at the heart of his drive to overhaul the trade pact. with canada relatively soon they want to start they wanted to go she very badly. but one way or the other we have a deal with italy that be a tariff one corps will be a negotiated deal. and frankly a tariff and. this is
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a much easier way to go but perhaps together would be much better for a candidate we're looking to help you know we're looking to help our neighbors too we can help our neighbors that's a good thing not a bad thing the u.s. mexico and canada do more than a trillion dollars in trade between them annually so all three countries are hoping to finalize a deal u.s. farmers will receive aid from the government to help them offset losses caused by the ongoing trade dispute washington announced that it is setting aside four point seven billion dollars to compensate the agricultural industry soybean farmers who have been worst hit by retaliatory tariffs will receive more than seventy five percent of the farm groups have welcomed the plan but they are still calling for an end to the trade dispute they say the government aid will only keep them going for a few more months. now here in europe italy's economy minister is warning that the country could next year smash through the debt ceiling set by the european union
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e.u. law demands that a new borrowing does not exceed three percent of a country's and the old g.d.p. now the euro zone's third largest economy already sits on a huge mountain of debt however italy's populist government has plans to boost spending on social programs while slashing taxes media reports say the government is hoping for china and the united states to start buying italian bonds. now for some more insight i'm joined by mark as well in the studio is a senior economist from the university of gallon in switzerland marcus good to have you on the program italy has a massive debt issue the country's government is a logger heads with much of europe but many of you institutions are china the u.s. and possibly russia suitable partners to help italy with its debt problem well let's go beyond the question whether that's a good investment strategy to all but if you as you mentioned these three countries there are three different players i mean the u.s. i think is just one of these erratic stupid trump tweets again i mean he can't buy
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italian treasuries what does he want to take you know u.s. tricks for his money he could all of the fed so that's that's a nonsense tweet china and russia on the other hand of course other players because they could order their central banks to buy interest and they would obviously find find an inroad into the european union divide the european union and find a hop to to play a bigger role in europe so how likely is it that china will be holding its high and that's i can't tell you it's an option but i could see the european union the european central bank and other european institution to look very carefully if someone else other than european institutions and the i.m.f. of course would it should could help italy if need be now the european central bank is putting extra pressure on italy up until recently it was the only net buyer of italian debt and is now dialing back its bond purchasing program. yeah that's one
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of the big risks for italy that's one of the unsolved problems and that could lead us if the situation gets more dramatically into another greek plus or a gleek. ten times bigger greek situation of course now with the government at the helm that insists on more spending despite this mountain of debt is sitting you know how much of a risk how big is the risk all of this behavior poses a threat to the rest of europe there is a risk it's an increasing risk with good new government because it's the left and right wing and populistic and it doesn't have a solid economic investment strategy so the risk is there but the european institutions are much more in much better prepared for it to than that they used to be seven years ago when we ran into the greek crisis so that's the hope in the entire situation and marcus briefly over one hundred and thirty percent of gross domestic product that's the amount of that italy is sitting on what's the way out
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of here. you know on one hand increase g.d.p. gross which italy doesn't do or cutting costs that's the only way out markets will senior economist of the university of san callan switzerland joining us in studio this morning marcus thank you so much for insight. up to four hundred years that's how long it takes for an ordinary piece of plastic to decompose the amount of plastic waste particularly in our oceans is a growing problem many countries have been taken a stance against the use of plastic bags but few have been as rigorous as kenya a fisherman of plastic bags out of the nets butchers found remains of plastic bottles and pigs and chickens the government reacted production imports sales usage of plastic bags always bad. the country market in western nairobi is a popular shopping venue it offers nearly everything but no plastic bags which were
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banned a year ago shoppers can buy colorful reusable bags at each stand instead but they're ten times as expensive about twenty cents each that's why many people bring their own bags along they've adapted to the change but not everybody agrees with the band including martin in dinner who sells. really affects that even the band has to help the environment it's bad for my business. i used to sell my yams in plastic bags so they would stay fresh longer. now they dry out quickly like you know i get back to back days in dog think it's day and yet. nearby there are piles of discarded plastic bags. people have simply toss them here illegally. nevertheless officials from kenya's environmental authorities say that bag ban has
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been a great success if your bags are being discarded in public places and fewer ending up in fishman's net. at the beginning it was a talent available to continue to pack things but we were able to demonstrate over time know over the months that it is possible to carry on your own business and activities without it and therefore change of behavior that really. that just means that people have had to do. that has been positive. violators face a fine of thirty two thousand euros or up to four years in prison so far nobody has been jailed but around a hundred people have been fined. one of the most vocal critics of the ban is the kenya association of manufacturers chairman one hundred good guys the head of a company that makes product labels for the african market he says one hundred seventy companies producing plastic have shut down triggering the loss of sixty
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thousand jobs the train frame given for those of six months was too short to make investment decisions and for people to reallocate resources and you're not given time to. invest face uncertainty and this causes tremendous aftershocks for the manufacturers when of a short time span it's given. despite the criticism then vironment management authority hopes that kenya sets an example for its neighbors as well this countries beyond africa. now a huge pile of cash can be helpful now is looking to get a massive financial boost japanese carmaker toyota says it's set to invest around half a billion dollars in the rate right hailing service as part of a deal to work together on mass producing self driving vehicles the car giant says technology from both companies will be used in building hundreds of special toyota
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vehicles amuse us ride sharing platform this after were announced it would expand into bike sharing the latest values are at around seventy two billion dollars it is the world's most valuable startup. that's it you're up to date with the latest from the world of business if you want more to check out our website that's d.w. dot com slash business or better yet simply follow our social media person of corporate billing for me and the entire news team thanks for watching i'll be back here with her shopping in for.
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kick off. at last the new one this new season has me give you a taste of the first match of frankfurt on a good show even with politics coach to go gold arch from zero to nuremberg and loosened off one away empty handed and most you don't want maximum it's not.
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even. months long cheering also to. sixteen. stay up to date don't miss our highlights w. program online w dark com highlights.
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his creations. his brand stink about color log off an icon of the fashion. but what do we really know about the man behind the dark shades what motivates him how does he think and feel. good moments in the life of a great fashion designer and whether someone smart come out of it starts september not w. . going. to germany's early show cakes it from the world cup in the bud.


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