tv Business - News Deutsche Welle December 15, 2018 6:02am-6:16am CET
the trade dispute between china and the us seems to cool office china lifts some of its purity of tariffs on u.s. products we'll tell you why the markets are still in the red. and spain revives its solar power industry after years of struggle we'll take a look at the floor of solar sector it's time for business on the w m how you got to get 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 the chinese consumers will soon be able to afford cars from the u.s. again beijing is reducing current import duties on u.s. 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 twenty nine hundred nineteen agricultural products energy automobiles except for a are among the items that china in the u.s. have reached 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 on to their crops now trade is blossoming again since china resumed importing soybeans chinese businesses as well as chinese consumers welcome the move. soybeans are one of the most important products china imports from the u.s.
. there's a big domestic demand. the trade dispute has weighed on china's growth as the latest figures show in november retail and industrial production so 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 it's not all good news coming from china today let's find out more with our financial correspondent jim acosta joining us right now that evening to you we're seeing heavy losses. most in a 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 resolve the 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 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 paid 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 subpoenaed of tariffs being lifted is there a connection 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 appease washington but if we look at those cherubs in the car industry the question is who is good really going to profit probably not so much the big u.s. carmakers like g.m.
chrysler or ford that's actually the german car makers and b.m.w. who are exporting most. site of their plants from the united states to china so they actually might profit most and then at the side we also have 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 pro 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 providing solutions from propagation to harvest for not only vegetables but also cannabis and we 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 three times the size of the current shop so yes that is tremendous growth. since the south african constitutional court decriminalized cannabis for personal use and september there is great excitement that the fledgling industry could explode i'm sure there will be challenges in the legalization off kind of this 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 his expert growing industrialists manufacturers and every day enthusiastic around seven africa to perturb. it's just about time south africa has had an extra like this as you can see from the interest that we've got here the amount of people coming through this expo and the amount of the exhibitors that divest exhibitors that we have there is a huge industry here to showcase the next week you know it's 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 might sound like a lot of people from colorado in europe middlings i should be coming to africa and they want to invest in this and there's a lot of it investors been set up to invest in that space so close i think i'd be should be moving but it's you know politics in the legal wranglings that all that we took a bit of time to do. this of african parliament has just twenty one my. it's in
which to revise the legislative framework for candidates to do it all the laws that on volved in this probation are quite old and have been around for quite some time they're quite deeply ingrained into the legal system so it's not as easy as just promulgating one new act in that'll be the end of it 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 day 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 you are great success all right small to medium cannabis enterprises will have to compete with a large international corporates who have a radio expressed interest in this about african markets. 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 without men. 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 to see through solar cells on buildings not in solar parks and g.e. exports ninety eight 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 we're now noticing that demand is increasing which is actually logical that a country with as much sun as spain was almost by now get along with the change of government in summer from conservative to socialist the unpopular son tax penalty payment for self produce so the real atrocity was quickly abolished there were various reasons why the previous government punished the small and decentralized generation of solar energy. that's how they wanted a market that was only open to large suppliers have put on the us. government's official answer was that they were afraid that a self-sufficiency boom would make the power grid unstable think that. no wonder that until now the slow return of solar energy was marked by the construction of large scale plans 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 widespread relief for francis things change quickly in recent years he and his colleagues had 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. going well again financially and that allows us to not only make sure that an investment pays 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 grooves as well as on facades welcome news for the climate and 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 dalai. lama. the book.
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