tv Business Deutsche Welle April 2, 2019 7:15pm-7:30pm CEST
oh. what's your best so mation of what we're just to look for is one of the say from theresa may there was not a huge breakthrough but obviously she's trying anything now to still get something through hadfield for you but she appears to have taken a tail off the table. for a start watching a thank you will save us from not going to mosque in london this is just africa that is next. african. president of the long. end of the rwandan patriotic front to include the rebel army and of the nine hundred ninety four genocide doesn't win little or no roots there wasn't willing to ask. me to reinforce to them. i need this blood was up and it was not for a. controversial leader whose success is beyond
question. time. wanted tragedy starts people fifty t.w. lives to two curious. do it yourself work or. channel subscribe don't miss out. the world's trade organization is sounding the alarm causing global trade for costs by nearly a third as the u.s. china trade conflict drags it and the slowing chinese economy weigh heavily on the world's trade. is moving and shaking in africa again this time building and financing of course in the eye for an ivory coast's it's an obvious job. this is business africa on d.w.i.
in berlin welcome the world trade organization says the world trade growth is slowing at an alarming rate political instability and the persisting trade conflict between the world's two biggest economies are taking their toll britain's increasingly counts of divorce proceedings from the e.u. make things worse than previously expected global growth could slow even more dramatically in case of a no deal bragg's it which looks increasingly likely that might be opportunities for african economies as well trade is already shaken up the world trade organization says global trade is expected to grow at a much slower pace this year and previously thought w.t. on the list help lower their growth forecast to only two point six percent from three point seven percent for twenty nineteen rising treating patients are the major factor to the stories today over the last year we have seen a range of new terror of sport in place. widely traded goods trade
simply cannot believe its full role in driving g.d.p. growth when levels of uncertainty are so high in two thousand and seventeen in global trade in goods and services rolls by four point six percent but ongoing conflicts and trade spots cut that rate to three percent in two thousand and eighteen and the trend is continuing with an even lower number expected this year however the w t o expects a return to over three percent growth in two thousand and twenty if a disorderly breaks it can be averted and the trade conflict between the u.s. and china gets resolved wesen talks between washington and beijing raise some hopes of no further punitive tariffs but that is by no means a sure thing. i'm now joined by the chief economist of the world trade organization robert copeman a scope on thanks for joining us on the w.
business what is actually was bragg's it all the trade spat between china and the u.s. at the moment. well they're both bad but i would have to say that the global nature of the global impact of u.s. china and the u.s. actions on other countries is probably going to have a much bigger impact than brics although brics it will have a very concentrated impact on the u.k. and the e.u. so you know it's. six of one half dozen of the other probably a little bit worse on the global side us china in concrete times what are your findings what can we expect. well our findings are by the way generally our concern is slowing economic growth because that drives a lot of trade growth particularly investment but these trade measures that
countries are taking with against one another us china for example well the uncertainty around the brics a deal also weigh on trade growth in that can affect quite a bit the bilateral relationships between countries we see a lot of trade diversion potentially occurring particularly in asia and north america and we would expect it with a disorderly breck's it to see more trade diversion occurring around the e.u. in the u.k. so what that means is that the direct effects are offset partially by trading with other countries instead of bilaterally between those two regions but then if that affects firms and consumers decisions about what to build or buy then you start to get pretty significant negative effects on economic growth and you get significant economic effects significant negative effects on trade you would talk about the trade finds other routes other windows and the situation.
well overall i'd say no there are no net winners because of the expected impact on global g.d.p. these this trade conflict these trade tensions will weigh on global g.d.p. in some sectors and some countries there are likely there's going to be this trade diversion and moving trade around and some countries will win and some countries will lose in those particular sectors but the overall weighing down of global economic growth which has very important impact on global trade is likely to result in in a net loss for the global economy. if we look at what's right at the moment and global politics increasingly politicians seem to be concerned about down national interest only and it was all about international corporation is the era of
international cooperation maybe. well it's certainly under stress right now i think it's way too early to say that it's over i think you know if we start to see continue if we continue to see this kind of economic slowdown and the kind of disruptions that are occurring as a result of these trade conflicts continue i suspect you'll start to see the country starting to look to cooperate again and and maybe we can use this kind of crisis to strengthen global cooperation let's hope it's just a phase rather copeman that chief economist of the world trade organization in geneva thank you very much for joining us. u.s. carmichael ford says it's already spending tens of millions of euros to prepare for a no deal breaks it the company's europe boss steve nom strong says the worst case scenario could mean a billion dollars in tire of course the american automaker produces engines in the
u.k. and cars in germany it's been hedging its sterling currency exposure and shifting inventor adjusting case over a cliff edge break breaks armstrong says the best case scenario would be for the money spent preparing for brakes it to have been wasted. britain's impending exit from the you also german industry increasingly were worried small and medium sized manufacturing companies represents germany's most important industrial sector building the backbone of the country's wealth and power of british crash out of the e.u. becomes ever more likely they're heading up the costs of that worst case scenario. a no deal breaks it would take the e.u. into uncharted waters and hurt companies in the blocs biggest economy germany that's the forecast from the country's main industrial federation the b.t.r. i. it's a pity that the britons decided to leave but it's it's a fact we just do not have to comment so we have to take it so what we call for now
is. hope for an orderly break that not give so much harm to the economy on both sides of the channel if it comes to a cliff scenario that would really be horrible and what do the numbers say according to the p.d.i. a no deal breaks it would reduce german economic growth to just not point seven percent for this year instead of its current prediction of one point two percent. and it would impact the labor market as well the b.t.i. says one in four companies with business connections to britain will probably have to axe jobs if the u.k. really does leave the e.u. without a deal. german coffee retailer long known for its non coffee offerings ranging from kitchen utensils to clothes is arguing for a strict government oversight of the fashion industry in western economies the company says regulation is the only way to establish higher wages and better
working standards in developing countries voluntary action was not enough meanwhile some companies are trying to tackle the industry's problems with their own approaches including a company in india. thanks to senegal where president mackey soul has been sworn in for a second term he was reelected on a promise to spur economic growth with what he called his emerging senegal project or then twenty african national leaders attended the swearing in ceremony and the new city of. one of president souls only ventured g.d.p. growth in senegal not form below six percent over the last three years but living standards remain low and unemployment is high. the container ships keep coming in abidjan and shipping traffic rose seven point two percent last year but west africa's busiest port needs to be dug out further to allow to compete with
regional rivals and further move to make inroads into africa financing and building infrastructure china's providing the know how an investment to modernize the port in the r.v. coast city. upgrading abidjan ports is one of the biggest infrastructure projects on the african continent it already handles ninety percent of ivory coast foreign trade when it's complete the term will be the largest in west africa one point four billion dollars is flowing into the massive reconstruction plan eighty five percent of the project funding is coming from china. african projects are crucial to president xi jinping belgian road initiative which aims to connect china with asia europe and africa by land and sea critics say the initiative is all about spreading chinese influence abroad and a saddling some countries with unsustainable debt. china's ivory coast's largest trading partner in asia and its third biggest overall trade between the two countries rocketed eight hundred percent between two thousand and fourteen and two
thousand and sixteen alone the new container terminal is being built by china harbor engineering company work began in two thousand and twelve and most of the three hundred workers are chinese it's not the only modernization work underway in ivory coast. after two thousand and eleven as part of the recovery of the economy of ivory coast and the modernization of its infrastructure including the port area a vast program was introduced to modernize the infrastructure and improve traffic and congestion management. there are fears that chinese funding might dry up as that country's economy slows down but with such a gaping need for infrastructure ivory coast is powering ahead for now. cole but others are willing to pay top dollar for. a rock mined in botswana has sold for eleven million dollars of an auction in hong kong the oval cut stone more
than eight hours. collector from japan after a fast moving bidding battle of only ten minutes. the diamond as perfect in every way. is named off the new owners store. which is quite a nice touch for me and the business. for more business news from africa and around the world and back on stories as well check out. our global.
including my father while. i was a student i wanted to build a life for myself. but suddenly life became relish. providing insights. that matters d.w. for mines. this news africa coming up in the next fifteen minutes for it is fearing for their lives in south africa three people have been killed and hundreds are displaced after a flare up of violence against people from other african countries the south african government says it's criminality not a phobia we'll hear from the job based africa. and in the years since. the opium use while the world with ease slip.
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