tv Business - News Deutsche Welle December 18, 2018 12:15pm-12:30pm CET
is the ugly underbelly of the european refugee crisis. you're watching t w news from berlin and there's much more to come monica will be here in just a moment she'll be looking at forty years of economic reform in china and should be looking at iran in the shadow of u.s. sanctions stay with us. earth. home two days of species. a home worth seeing if you can. get those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world. to use a country that used green energy solutions and resources should. be created to interactive content teaching to the next generation about environmental protection
. using all channels available to stop people to take action and we're determined to do something huge for the next generation of global india as the environment series of global three thousand on t.w. and online. the people of. china will not be told how to do business that's the bottom line of president xi jinping speech marking for two years of economic reform. also coming up an odd company in china that benefited in a big way from economic reforms now it has to change its business model. u.s. foreign policy and sanctions against tehran make. every day a new life for the people in iran very difficult.
welcome to d.w. business so today china marks forty years since its economy opened up to the rest of the world a move that ultimately turned china into a global economic powerhouse second in g.d.p. if only to the united states forty years ago china's g.d.p. hovered around only one hundred fifty billion dollars annually on the early twenty years later in one thousand nine hundred ninety seven it broke through the trillion dollar ceiling about last year g.d.p. had grown to over twelve trillion dollars in a speech marking the anniversary chinese president xi jinping vowed to press ahead with economic reforms but he also made clear that beijing will not deviate from its one party system or take orders from any other country. it was an impeccably choreographed event designed to showcase china's transformation from an inward looking farming based society to the economic giant it is today. the country's
president xi jinping credited forty years of what he terms of socialism with chinese characteristics for lifting people out of poverty and pushing china on the international stage from. but that stage now more than ever is fraught with tension in a thinly veiled reference to his country's month long trade dispute with the united states she had this to say so john you go your job there is no text book of rules to follow for the reforms and opening of china a country with five thousand years of history and civilization and with a population of more than one point three billion people no one is in a position to dictate to the chinese people what should or shouldn't be done. no one not even seemingly the leader of the most powerful economy in the world. this
footage shows she jingping having dinner with u.s. president donald trump at the g. twenty summit in argentina earlier this month the result was he has left that truce on shakier ground then ever the tone coming from beijing today was defiant china won't be pushed around. for more on china its economic success and how it's being celebrated today i'm joined by clifford coonan who works in china as a correspondent and you of course have been following today's celebrations especially also is huge and king's speech what did you make of it well i think as we heard in the report that in tone it was defiant in terms of content goes a little bit vague on detail and it didn't provide a lot of the information that maybe the financial markets might have been hoping for information about infrastructure or ways to kickstart the economy which has been flagging a little bit of legs also it makes it a little bit difficult for him to sort of to appear to be saving face in the face
of u.s. pressure while also coming up with a substantial trade deal of course i mean those very strong woods they're saying he won't take orders or nobody can tell china how to do business aimed directly at the white house is beijing strong enough for making such a call i think there's two things going on with one is that this speech was aimed at the domestic audience and showing that china is strong by standing up to the u.s. and if we remember that over the years china has the soviet union to many other countries and always tried to stay strong so i think he's pushing this message of strength and as we've seen the second biggest economy in the world it's still rising so it certainly still has a lot of muscle there the chinese economic growth has slowed somewhat but of course it's still the powerhouse of the region how is it viewed by its neighbors well she didn't things pet project is the belgian road initiative which aims to build infrastructure in central asia europe and. these days and that's still proving
popular but people are starting to ask questions i think a little bit about it but maybe china trying to be too dominant in the region for the moment though i think most countries are still happy for china to bankroll their ambitions and how successful is china now forty years after it reinvented itself how successful is it for the chinese themselves i think we've seen a great development there i think we've seen a lot of people lifted out of poverty the poverty rate is drastically lower than it was forty years ago at the same time. the rising middle class is also led to great consumption and we've seen a lot of. we just seen a huge development across the board so i think for ordinary chinese the last forty years are probably measures of success story and where we see another relaunch now forty years ago it reinvented itself in the other region orange politically economically on the horizon well i think one thing that i noticed today was that you jumping is hailing the success of the forty years but to
a certain extent he's also saying that period he sees himself in the tradition but he's also sort of thing that's happened now and now it's the xi jinping era so i think that's one of the signature things of the of the speech today that he's very much putting himself at the center of china's future development ok so somewhat looking forward to there clifford coonan there is a correspondent in china thank you so much for joining us thank you now of course china is well known for producing copycat versions of products conceived in other countries including ot but the two thousand and financial crisis left its mark prompting authorities to encourage artists to embrace something new creativity. the world's most iconic works of art replication to an extraordinarily high standard. here in the chinese village of darfur and thousands of people make a living copying masterpieces. the tradition of reproducing western art work began
forty years ago when a series of reforms opened up the chinese economy since then dolphin has grown from an obscure village of three hundred rice growers to an international painting hub some of the artists even reckon they could give the original creators a run for their money here's how to neon rates her version of starry night compared to vanguard's original or below i think i paid better than he did he and his is the original mine is a reproduction i paint this piece several times a year and i personally think i painted better than he did but no matter how much better you are you're still copying his work. and that is precisely what the local government is hoping to change international demand for the replica artworks produced here has waned since the two thousand and nine financial crisis this has prompted officials to encourage artists to produce
original work instead this newly opened fourteen million dollar art museum is to has some of their work. but whether the original pieces will be produced at the a store or xing speed of the replicas is another matter creativity after all takes time. just six months ago tehran seems to be a brilliant destination for investors from europe including germany siemens dima many other companies wanted to do business there but washington's foreign policy has since started to strangle iran's economy and a rainy ends are bearing the brunt. at first glance everything seems to be running normally in this pharmacy in tehran. but more and more often pharmacist naveed who doesn't want his real name mentioned has to tell his customers that he doesn't have
their medicine anymore. we have customers who have undergone open heart surgery and those medications are vital when they stand in front of me and i have to tell them that they're no longer available you can see the fear in their eyes so i was sure that. the majority of iranian pharma imports come from europe the u.s. sanctions have caused one massive problem for e.u. around trade the payment system. we visit the bank melli iran in hamburg it forward sereni and company payments to respective banks of german companies but now european banks are part of the boycott according to managing director has got to the many companies fear the us sanctions. the bank. the banks don't have any valid reason for not processing those payments of thought it's a clear breach of contract it's a breach of the rules underlying payments in europe. bunk melly could sue
but there are simply too many banks that no longer accept payments from iran gottlieb therefore hopes for new e.u. regulations back in tehran the block payments are also a big problem for many german medium size companies doing business in iran says dr marfin bone shine of the iranian german chamber of commerce trade is on the brink of collapse and an e.u. solution is urgently needed. to name an iranian companies and the whole country are increasingly impatient with europe in other words we have to deliver now it's no longer enough to use symbolic politics here to counter the situation. dashed hopes among iranians citizens no one believes anymore that europe will support iran in spite of u.s. sanctions wolf. we all know that europe has to subordinate itself to america in the
end was. i don't believe in a solution anymore only those who have money will survive. pharmacist navaids trying to keep his store up and running somehow he hopes that business with europe will pick up again. and that's your business update here want to double your thanks for keeping me company just after this now and look at well markets at this hour susan. cohen.
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