tv Business Deutsche Welle April 3, 2019 5:02am-5:16am CEST
seventieth anniversary. more turbulence ahead the world trade organization is cutting its global trade growth forecast by nearly a third and the international monetary fund is training in as the list of issues weighing on global trade only seems to be getting longer also on the program china is moving and shaking on the african continent again this time building and financing airports in the ivory coast city of abidjan and show you two entrepreneurs in india shirts and dresses made out of textile waste are making that an impact as environmental awareness is on the right. i'm chris cuomo good to have you with us. political instability the persisting trade conflict
between the united states and china and the chaotic proceedings surrounding an increasingly likely no deal all are taking their toll on the global economy the international monetary fund says the world economy is experiencing quote synchronized the celebration and the world trade organizations view isn't uplifting either it warns that world trade is slowing at an alarming rate. the world's leading financial institutions said it global economy is in a delicate position which needs tumbling with care. the world trade organization says global trade is expected to grow to a much slower pace this year than previously thought. have lowered their growth forecast for two thousand and nineteen by almost a third and said it is a threat to any recovery the international monetary fund points a finger at the u.s. china trade conflict. specifically we have looked at what might happen if tariffs on all goods traded between the u.s.
and china went up by twenty five percentage point points that would entail a reduction of g.d.p. of point six percent for the united states and one point five percent for china do the math there is a self-inflicted wounds that should be avoided. the guard's message is clearly aimed at american and chinese trade representatives. for weeks now they've been trying to find a solution to their simmering trade conflict the clock is ticking and international economists hope to trumpet ministration will heed the warning. let's bring in our financial correspondent and scored here. global institutions are sounding the alarm over the state of the world economy but wall street doesn't seem to be overly intimidated well we keep listening to the same old song
there the trade conflict is not positive that breaks it actually could be hurtful to global growth there's nothing really new but first of all we do know do not really know if the trade conflict between the u.s. and china will really escalate or if we might find a solution in the next couple of weeks and we also do not know how possible breaks that might materialize and the i.m.f. keeps lowering their economic growth forecast and on a positive note christine lagarde is still not talking about recession so that's at least a little bit of good news and so wall street hardly reacted to this forecast and here's shares of right helling service list fell below their i.p.o. prize in just their second day of trading what happened there. well for instance there was one analyst coming out with a cell rating on the stock and giving
a price target of forty two dollars a share well the stock started trading on friday with seventy two dollars apiece so obviously there is quite some skepticism and maybe it has been too optimistic when they gave out their stock on friday know that they gave up the stock but maybe the price was just too high and that could be telling for the next big companies waiting with their i.p.o. in the next next couple of weeks select for instance or interest so i'm quite certain that the next i.p.o.'s will be a bit more conservative than what we've seen with lift in the quarter new york thank you. and here are some of the other business stories making the news. farmers in the united states are facing soaked and soggy farmland right as they would normally be planting the seeds for this year's wheat corn and soy harvest two weeks ago a heavy rain flooded over half
a million hectares it's yet unclear how much of the ethnic cultural land in the american midwest can be farmed at all this year u.s. automaker ford says a no deal breaks it could mean a billion dollars in terror of costs the company also claims it's already spending tens of millions of euros to prepare for this worst case scenario for produces engines in the u.k. and cars in germany it's been hedging its sterling currency exposure and real caving inventory just in case of a cliff edge present irish budget airline ryanair now ranks among europe's top ten carbon emitters it's the only non coal company on the list over the past five years the company's carbon emissions have risen by almost fifty percent as c.e.o. michael o'leary mocks climate change concerns as quote complete and utter rubbish air transport some one hundred thirty million people a year mostly on shore flights. the container ships keep coming
into abidjan bus but west africa's busiest port needs to be dug out further if it's to compete with regional rivals and a further move to make inroads in to africa by financing and building infrastructure china is providing the know how and investment to modernize the port in the ivory 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 is 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.
german coffee retailer chibnall long known for its non coffee offerings ranging from kitchen utensils to clothes is arguing for stricter government oversight of the fashion industry in western economies meanwhile some companies are trying to tackle the industry's problems with their own approaches including a company in india there found a way to up cycle left over fabrics to stylish new garments. at this clothing design studio in southwest delhi fabric waste is seen as a valuable resource. the philosophy here is simple we don't need more new clothes repair more it's a challenge to the fast fashion business model a challenge that textile up circular due diligence is proud to be making the problem in the fashion industry it starts from the fact that it's being done a linear fashion model city day about sorry three percent of the garment three
stages go into langford's because there is a lack of rays of the using the fabrics and the garments that we're working with. that realisation lead kriti to learn and to bludgers other two founders to address the problem of textile waste in india they set up a design label committed to making fashionable clothing from garment waste or up cycling discarded items it's a concept that's been gaining in popularity in the textile industry all over india as awareness rises. and garment waste is not the only problem even more serious is the issue of production waste the textile industry is considered to be india's third largest polluter. environmental implications are worried the situation is getting worse by the day due to the surge in demand for
products and the associated use of chemicals the need for landfill space and increased energy and water consumption. entering a fifty. seven million metric so that's that's huge and the single is about. which is as much as most. and that is a single. then of course that. in the production. process itself which then impacts the communities around which fact he's come. to just founders set up their company in twenty twelve now they have almost twenty employees the process starts with sorting the textile remnants that's when the inspiration comes for new clothing designs. the brand also makes bags and other
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