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tv   Business - News  Deutsche Welle  December 15, 2018 4:02am-4:15am CET

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the trade dispute between china and the us seems to cool off us china lifts some of its punitive tariffs on us products we'll tell you why the markets are still in the red. and spain revives its solar power industry after years of struggle will take a look at the floor of solar sector it's time for business on the w m how yet again us welcome to the program the trade dispute between china and the u.s. seems to be cooling off a little bit beijing is suspending punitive tariffs on american made cars and announced a big purchase of u.s. soybeans in what sounds like a conciliatory tone the chinese finance ministry says it hopes china and the u.s. will progress quickly and its negotiations to lift all additional tariffs on each other's goods chinese consumers will soon be able to afford cars from the u.s. again. beijing is reducing current import duties on u.s.
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vehicles from forty to fifteen percent tariffs will also disappear for a number of other u.s. products the regulations apply to the first three months of two thousand nine hundred nineteen agricultural products energy automobiles except for a are among the items that china in the u.s. every chip consensus on. the new regulations are music to the ears for u.s. soybean farmers storage facilities for the soybeans are bursting at the seams china's been one of the u.s. is most important agricultural customers but during the recent trade dispute china stopped importing u.s. soil farmers held onto their crops now trade is blossoming again since china resumed importing soybeans chinese businesses as well as chinese consumers welcome the move that. soybeans are one of the most important products china imports from the u.s. . there's a big domestic demand for oil. all the trade dispute has weighed on china's growth as the latest figures show in november retail and
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industrial production fell well short of expectations the new economic ceasefire between the world's two largest economies gives both sides the opportunity to find additional win win solutions. we just saw and it's not all good news coming from china today let's find out more with our financial correspondent joining us right now good evening to you we're seeing heavy losses yet most in the season wall street are those disappointing numbers from china we just saw the main reason. that was seen as the main reason we for example got numbers from the chinese retail industry and for the month of november we saw the slowest increase in retail sales in about fifteen years but we also got weaker economic news out of europe from the car industry for instance and that actually was the big pressure here for wall street selling off by almost five hundred points and it was interesting to see
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because the u.s. economy in general does not depend so much on trade but more on consumption and we got pretty good actually a bit better than expected numbers from retail sales here in the u.s. but nobody really put a page close attention to those figures here on friday and maybe it's because they were paying attention to other news from china we saw the announcement of those punitive tariffs being lifted is there a connection yes between their decision and the slower economic growth that we're seeing in china. to a certain degree it could be because it might show that the trade dispute was the u.s. is weakening the chinese economy and therefore china might try to. washington but if we look at those the chair of the car industry the question is was really going to profit probably not so much the big u.s. carmakers like g.m. chrysler or ford it's actually the german car makers and b.m.w.
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who are exporting most outside of their plants from the united states to china so they actually profit most and then at the side we also had tesla with those lower tariffs announcing that they will cut the prices for some of their models in china by up to fifteen thousand dollars as usual some win some lose in new york thank you very much for the analysis and have a good weekend. asked south africa decriminalizes cannabis for personal use industry players are standing by to capitalize on the move this weekend gonchar print norris from around south africa are converging on the inaugural cannabis expo in pretoria it focuses on related health agriculture growing and innovative products but legal experts warn there is still a long way to go until the industry can truly benefit the south african economy. story tomatoes tomatoes have exactly the same requirements as ken and andy cohen all started greenplum hydro in two thousand and eight specializing in hydroponics
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providing solutions from propagation to harvest for not only vegetables but also cannabis and we're planning to open branches in cape town and then also we have outgrown this shop as you can see and we are going to move into premises he times the size of the power in shop so yes that is tremendous growth. since the south african constitutional court decriminalized cannabis for personal use in september there is great excitement that the fledgling industry could explode i'm sure there will be challenges in the legal isolation off cannabis let the parliament sort that issue within the next two years and i'm sure all kind of this will be legalized in the near future just like it is in canada. is an exhibitor at the first episode african kind of this expert growing industrialists manufacture is an every day
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enthusiastic around seven africa to protect. it's just about time south africa has had an expert like this as you can see from the interest that we've got here the amount of people coming to the states by and the amount of that exhibit that's a diverse exhibitors that we have there is a huge industry here to showcase the next week. not every commercial aspect of cannabis is on display here leading analysts to predict a desperately needed boost in a south african economy emerging from recession it may sound like a lot of people from canada in europe need the loons i actually come into africa and they want to invest in this there's a lot of it was invested as vince a couple investors in that space so of course i think i've been should be moving but it's you know politics that the legal wranglings that are out there we took a bit of time to. the south african parliament has just twenty one my. it's in which to revise the legislative framework for cannabis through it all the laws that are involved in this probation are quite old and have been around for quite some
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time they're quite deeply ingrained into the legal system so it's not as easy as just promulgating one new act and that'll be the end of it so there was no believes this is the beginning of a sustainable and diverse industry even if the road ahead is uncertain i did expect it to be this busy on the first stay but i'm happy that it is and i'm sure it's going to be even busier on the weekend which is good for everybody exhibiting here and ya great success all right small to medium cannabis enterprises will have to compete with the large international corporates who have a radio expressed interest in the south african market. corporate news now and the insolvency administrator of germany's defunct air berlin is suing its former largest shareholder if he had airways for two billion euros the suit alleges the gulf airline failed to live up to its financial obligations by withdrawing funding for air berlin it had pulled the plug on funding in august of last year forcing air berlin to file for bankruptcy two months later eighty had said the claim was
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without merit. with about two thousand seven hundred hours of sunshine each year spain has always been considered an obvious spot for solar power but after the financial crisis and a so-called sun tax on solar power generation severely hit the industry for years sun power is having a comeback and with increasing demand entrepreneurs' are hoping for better times. you could call this man a survival expert out votto bhutan started his business. in two thousand and eight just as the financial crisis was beginning today he's the only solar cell producer left in space. he installs a c. through solar cells on buildings not in solar parks and g.e. exports ninety percent of his production he's more successful selling them abroad than he is in his own country. and this is nothing if you don't get out i don't know what i mean is starting to get better the sun tax has been done away with and
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we're now noticing that demand is increasing which is actually logical that a country with this much sun a spain was almost by now get on with the change of government in summer from conservative to socialist the unpopular son tax penalty payment for self produced so the real atrocity was quickly abolished there were various reasons why the previous government punished the small and decentralized generation of solar energy. they wanted a market that was only open to large suppliers have put on this call by. the government's official answer was that they were afraid that a self-sufficiency boom would make the power grid unstable like that. no wonder that until now the slow return of solar energy was marked by the construction of large scale plants the former government approved around five gigawatts which will be connected to the grid next year spain is starting to catch up when the new socialist government announced it was abolishing the sun tax it was greeted with
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widespread relief for francis things change quickly in recent years he and his colleagues have to keep their heads above water with small projects in the agriculture sector. but we expect to install ten times more solar systems by next year we know that. many companies want to generate their own electricity they no longer need large surfaces to do it just a roof or a facade like you smell does he needed protection from the sun and opted for installing solar cells for several reasons that it was. doing well again financially and that allows us to not only make sure that an investment piece for itself quickly but also to fulfill our responsibility as entrepreneurs. solar cells are back and better than ever more and more of them are appearing on houses and companies roofs as well as on facades welcome news for the climate and
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a great start for the country in achieving its climate targets. that's all for business thank you for watching we'll see you next time or whenever you like on the w. dot com so then. cut . cut cut cut cut cut cut. cut cut cut cut cut cut cut. cut cut cut cut cut cut cut cut cut cut cut. the world.
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