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tv   Business  Deutsche Welle  April 11, 2019 3:45pm-4:00pm CEST

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the biggest election in history is underway nine hundred million indians are eligible to vote over the next month prime minister narendra modi and his hindu nationalist b j p a favorites modi was swept into office in two thousand and fourteen on promises of more jobs and a stronger economy and last year gross domestic product did grow by seven point three percent making india the fastest growing economy in the world but it's not creating enough jobs unemployment stands at over seven percent as you can see providing jobs is key as the population booms there are one and a half billion indians and that number is growing by fifteen million every year and the prime minister has run into some self-inflicted problems along the way. chaos at banks across india as almost all paper money is rendered worthless two years ago prime minister narendra modi stripped five hundred one thousand reaping notes of their value leaving millions of indians without their savings it was meant to
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tackle money laundering but lives and businesses were disrupted this textile factory in tamil nadu had to close for nearly three weeks its c.e.o. is still angry. over today if you get there. mr the words he's. made administration didn't just cancel common notes it also took months to replace them and then introduced a new tax on goods and services known as g.s.t. experts say was necessary many complain of a haphazard rollout it was a double whammy for small businesses d.s.t.v. out of the threat of what we used to have a lot of clients at least two to three hundred in a city he was willing cash we would suing well. after the nets were cancelled and g.s.t. was brought into the market disappears when we don't get clients from outside the city now business is down a lot of them. look at. some businesses asked. still
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hurting and that's something modi's opponents are capitalizing on they say his policies have disproportionately affected the poor but the prime minister and his supporters say it's all in the past now it's up to india to decide. the poor nanda is a business right if accords india and joins us from mumbai so what. chances of winning again. when i'd best it's anybody's guess but the understanding is that it's likely that more than me come to power again however it may not be a sweeping majority as one would have expected because in the last couple of years congress has managed to claw some of the electoral gaps but still the problem with congress is that it's not being able to pick up and being a strong. can stand against more the end probably need the country and that is one of the reasons that the b.g.p. still me end up getting the lead in this election his political opponent gandhi who
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by the way has a household name of course is also focusing on the economy what are his ideas like . right. right also one of the most important things that congress reaches out on the spot he has brought up in his manifesto in this election is a sort of an ideal for universal basic income which is started at targeted at the poorest of the people this is likely to affect probably about fifty crore people in india and they are likely to get about a thousand euros if the congress is elected to power which is one of the things that they have promised this is one of the most important things that they are looking at apart from this congress is also looking at focusing on the manufacturing sector to prop up the whole economic growth which has been fairly robust in the last two years but it's believed that india can still do better. combatively apart from that tweaking of the direct in the in direct taxes is also
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on the cards and relaxation also rules in certain economic sectors such as start ups is also something that the congress has promised and it's fun for us to just tell me why are you talking about propping up the economy i mean we're talking about the fastest growing economy in the region and the world why why isn't that filtering through labor market for example. in fact you know the thing is that india has been crowing compared to other lot of for the job for fees but oh it has been stuck in total fees all of a jobless economic crude so there has been economic crude but jobs has not kept recent though with the growing economy which is why we are ironically because they're not in tune with the government to actually come to power and or promise of creating more jobs which is something that we have not seen some of the reasons for it is believed to be the new ban in twenty sixteen implementation of the new goods
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and services tax that we saw in twenty seven thousand as a result of this there was job losses because certain industries were affected and there were job creations what has not kept at the same place as a result not surprisingly you know in jobs is one of the most important does that look the congress and of. me which is not anymore these parties also focusing on a lot of them have promised that if the our water to power do we end up creating more jobs but we're going to see. thank you very much for your analysis. of chinese employees have stolen corporate secrets from dutch chip equipment make a samael company confirms that memory sticks were used to take large files from its silicon valley subsidiary it is unclear whether the chinese government was involved strong orders from a fast growing chinese chip market helped the dutch double sales last year is that
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once the current stalling technology could allow beijing access networks around. china is drawing europe close a into its orbit it's besting heavily across the western balkans laying groundwork for a new battle for influence on the e.u. use french chinese prime minister the chinese in croatia signing trade treaties head of friday's joint economic summit with sixteen european nations. it's the first visit by a chinese premier here on the surface it looks like a mutually beneficial relationship. but some members of a beijing is trying to use the group to drive a wedge between brussels and the rest of the block. military honors for an honored guest chinese premier league caijing and his career counterpart under a plank of age quickly got down to business so a new deal spanning from tourism to trade and infrastructure projects. this is a major turning point in our two countries relationships and i'm exceptionally
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satisfied with our substantial talks today which realistically set the ground for future cooperation on the development of projects including industrial services railway infrastructure economic digital technology projects science education agricultural and financial services projects. that it will take an impressive list but par for the course when it comes to china. beijing is investing billions to court sixteen eastern and southern european countries each part of the so-called sixteen plus one group which is designed to expand future economic cooperation between participating nations and china beijing hopes the group will for the cement the foothold in europe for its belt and road initiative. it would see china secure a transit quarter for its products from beijing to the heart of europe. the european union is taking a cautious stance to china's new economic push. it's warned that china's cheap loans can get beijing too much leverage over its business partners. observers fear
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the sixteen plus one group represents a wedge designed to drive europe apart. but there's no sign of those reservations in croatia were assured the talks were of crucial importance for china's future in the region. and today's gloomy growth forecast comes on behalf of the asian development bank it says the region should prepare itself for slowing global demand as the couple years back asian economies posted a combined annual growth rate of over six percent that's nothing to be scoffed at but it's downhill from there according to the bank and the latest outlooks that it's posted twenty nine thousand coming today it claims trade tensions especially between the u.s. and china which is by far the region's biggest economy the constant allays of a break does it also hurting business and apart from the manmade disasters natural catastrophes are also hitting the area of
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a hata only india which we were talking about earlier is bucking the trend it's growing even faster than china well let's bring in. director of the macro economic research division at the asian development bank he joins us from munich tell us about the us china trade dispute first of all and how that is affecting how business is being done and how people are managing their business and investing . yes you know you're already seeing the effects of the trade conflict in the region as you mentioned our forecast is for growth to slow further this year and next and part of that is because of the trade conflict our estimates are that the trade conflict as it currently stands and the currently implemented tariffs take off about a quarter of a percent off chinese g.d.p. and if hopefully it doesn't but if the conflict escalates further the impact on
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china's g.d.p. could triple to about one percent of g.d.p. the impact on the us is less than that but still negative in terms of the impact on the rest of developing asia they sell intermediate inputs to china and so they will also be impacted by these production lincoln just but there is a silver lining in that when when this trade conflict increases prices between the u.s. and china there could be trade redirection toward other countries enveloping asia that supply similar goods as china so beneficiaries include countries like vietnam and malaysia well let's talk about that silver lining just how much of a counter effect is it having in the region is the region already starting to work together closer which would be a positive thing wouldn't it yes so first of all we are still already starting to see increased income increases in this trade redirection or evidence of trade redirection but yes said the other thing they're doing policy wise is they are
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accelerating or putting in place steps to strengthen into a regional trade so things like our sept the southeast asian countries and six asia pacific states are it's one plus all you see. is another one. director of the macro economic research division of the asian development bank thank you very much for being on the w. . and nice doing business with you.
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benjamin harm to. western civilization he's turning old monastery literally into a school for far right cultural warriors activists for
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a european populist movement. harm while has the backing of some powerful people but opposition is mounting and not just locally. in ninety minutes on d w. the worst much misery point for some of. the book is a dangerous. floods and droughts climate change become the main driver of mass migration you could not write any kind of peace not if you want and probably most of them to. start to get on t w. l z a view of the world. where i come from but oh is that clear to cisco it's just like with chinese foods it doesn't matter where i am it's a waste of mine to be
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a cold after decades of living in germany chinese food is one of the things i miss the most but better taking a step back i see the need to differentiate knowledge men have for it's a curse as i recall a show that exists as a part of the wall haven't been implemented in china that's new not to china people wondering if there isn't a lot of people have a right to another place that is this is their job just that of them on how i see it and that's why i have no my job because i tried to do it except maybe an hour a day by name of the uninsured and i was added up your. claim.
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this is due to abuse coming to you live from above and the only seizes towell in saddam the defense minister announces that president omar al bashir has been arrested in the transitional government of iran by the minute treat. the to maria is also coming up. judah solutions arrested in london police removed the wiki leaks founder from ecuador's embassy after his asylum was revoked for quote aggressive behavior. also in the program because the biggest election the world has ever.

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