tv Business Deutsche Welle May 31, 2019 6:45pm-7:01pm CEST
i want to get jones and this is a business asia welcome to the u.s. china trade war is taking its toll on global stock market shares are heading south from asia to europe this is beijing gets ready to ramp up retaliation to u.s. measures blacklisting some quote unreliable foreign firms and hiking tariffs on a range of u.s. goods starting on june the 1st u.s. time so where are we up to in this conflict now so far the u.s. has imposed tariffs on chinese goods worth $250000000000.00 that's almost half of the goods china sold to the u.s. in 2018 now beijing retaliated by imposing tariffs on 110000000000 dollars worth of u.s. goods entering china and that's almost as much as all of us exports to china in 2018 hours washington keeps up the pressure threatening to raise more tariffs on chinese goods beijing has responded by threatening to stop supplies of rare metals crucial for many high take items now meanwhile on the u.s.
doorstep the president on a trump has said he will levy a 5 percent tariff to all goods coming in from mexico unless mexico curbs migration across the u.s. southern border the terror could rise to 25 percent in october trump wants mexican authorities to do want to combat illegal entries to the u. s. makes it was president andres manuel lopez obrador says he will respond with quote great prudence to a trans latest threat and that he also won't stop his country russia find the united states makes a cold canada agreement. now lots to talk about with clifford conan from business and also pads who joins us from the front with stock exchange hello to both of you i'd like to start with you clifford looking at this entire picture are we watching the end of global trade as we know it. well it's certainly
a major recalibration if you look at mexico today mexico was kind of filling a gap in a way that to be made by by china with the chart us china people were looking at mexico as a way of producing there perhaps as a way of getting into america about ways to lead up to or as close as well seriously seeing these 2 huge areas which were so symbolic in a way all of the kind of global trade to be part of the last 3 or 4 decades are now facing major sanctions from the world's biggest economy but with mexico it came as a surprise i mean mexico is the united states biggest trading partner this new nafta deal was basically it's ready to go ahead why mexico well we were all looking at east of course and then suddenly it happened in mexico. trump says it's down to immigration as the main reason but there must be there's also it's ties in very much with his protectionist mode on with his stance that he takes on these things so i think it was kind of inevitable at some point that it would be political would
also translate into economic measures now only of course we see the united states there in trade conflicts with mexico with china of course what's europe the financial world and europe making of all this. well what clever just said the economical trade issue morphing into the political that really raised eyebrows here it's kind of a new dimension and condiments to talk to says that will probably stay that way it will probably stay true trumps policy until the economy goes downhill and perhaps the market as well weathered and you can rescue those things so to speak with a deal in time for the presidential election 2020 but it truly put the markets into a shock mode chairs tumbling chairs like volkswagen unfit for ice or automakers likely to be affected by this kind of policy between 4 and 5 percent in the red and perhaps losses not being greater than that because people immediately suspect that
central banks will step in and things get out of fan too much economically and of course we still have to somehow deal with china and also ramping up its retaliatory measures reportedly setting up a blacklist for unreliable foreign firms do we know which firms. no we don't know that yet a list has to be published shortly the commerce ministry says but it's spokesman golfing gave us some details on know what they mean by unreliable sources under unreliable enterprises namely those that do not comply with market rules deviate from a contract spirits or impose blockades or stop supplies to chinese enterprises for noncommercial purposes and seriously damage rights and interests of chinese enterprises so that's a heavy order and you can imagine that the chinese will be able to find companies of comply without. looking at all of this and despite the escalation do you see
a solution to the u.s. china conflict by the end of this month at the g 20 summit is that feasible well the jury is very much out on this some people thought it would be a great opportunity for them to. and how shared their differences trump likes to talk about his great relationship with you jumping but i think if. things keep going the way they are then it's going to be kind of difficult for them to actually find an area of agreement particular with mexico just happening and now this is just you know there's going to be a lot of difficult areas and we'll have to wait and see if it couldn't there here in the studio and also leave us in frank thank you so much to us if you. and out to some of the other stories making news around the world. in the u.s. a court ruling is forcing by a subsidiary monsanto to help clean up dozens of bodies of water that were contaminated with a hazardous chemical p.c.b.
the company's already struggling and expensive lawsuits. because of its weed killer round up and court cases are playing up causing a few responder shareholders to question them and some to purchase. british telecom mobile phone provider eet is the 1st in europe to launch a high speed 5 g. service the 5 g. net will be available in parts of 6 cities including london birmingham and belfast vodafone will grow allowed its own 5 g. network next month 5 g. offers almost instantaneous data transfer needed in strategic sectors like energy transport banking and health care. and in peru potatoes now in the limelight the country post over 3 and a half 1000 different varieties of the tuba many of them are on display at produce 10th annual festival in lima where people from across the country come to celebrate their different flavors colors and forms. the indian economy is losing steam g.d.p.
growth slipped to 5.8 percent annually in the 3 months ending in march its slowest pace in over 4 years the slowdown could pressure the government and central bank to stimulate the economy by the combination of fiscal measures and interest rate cuts the government also announced that india's unemployment rate has hit a 45 year high coming in at just over 6 percent. for more let's bring in from our courts india in mumbai good to have you with us is this slowdown just a phase or is india faced with more fundamental problems. i think we're definitely staring at a more fundamental problem because if you look at it are the numbers that have. right now up in charleston there's no longer the fosses growing economy after these numbers china has taken over and this is all this is coming at a time when the global macro economic conditions are rather benign crude oil prices have increased but they're not exactly on the board rupee has also been at
a better footing compared to what we have seen us when it was standing at about $75.00 to the $1.11 and you know that the trade was between china and the u.s. can actually end up benefiting india africa place it's called strike so it will stay it's seeing right now is that the global economic conditions are still fine but despite the fact there is a slowdown in india right now consumptions has slowed down the auto sales growth to head here didn't really go and traffic has been on the decline and we saw in the last quarter as well also you know company looking at all these numbers and of cause the job of the unemployment crawled has also that that's another major problem that has been plaguing the internet economy there is also a shadow banking crisis that is brewing in the indian economy which even the government has said its contribution to the overall sort of so concerned there are such a number of problems in the engine economy it's definitely more of a structural fundamental issues that we're looking at which needs to be addressed in fact immediately and
a lot of experts economists and also industry are saying exactly that now prime minister narendra modi has just been reelected how is he going to boost growth. right so definitely this has to be the trough of priority off the government now that it takes over for the 2nd term. it needs to bring about who you were and landry farms also has to make india a better place to do business and that has been a priority for the 9th ward the government in the last term as well and we have seen that india has fared better on those accounts but a lot more needs to be done because you know that f.d.r. inflows have decreased in fact it fell for the 1st time in the last 6 years so in order to woo back of foreign investors we need to make india a better place. the work and also a lot of long term structural reforms are needed at the moment to boost growth that has to be the top priority and not the right to put on and there from quotes india in mumbai thank you so much. coffee is becoming very popular in china big name
coffee shops popping up everywhere it task the reputation of being the land of tea but china now produces more beans than coffee powerhouse costa rica or kenya combined. they've arrived in every major city international coffee chains are popping up all over china with a caffeine fueled enthusiasm starbucks opens a cafe here every 15 hours and suddenly everyone has their favorite coffee down to trim a black no sugar for them aka i think a lot but as well as serving domestic demand china is increasingly helping the rest of the world get its coffee cake in recent years many farmers have converted to the crop some of them doubling their income to around $10.00 a day something worth singing about. before i grew corn and potatoes but i made much less money than i do now with coffee. because. once famous for tea pu'er is now china's coffee capital the 1st plants were
reportedly brought here by french missionaries some years later china is now the 13th biggest producer in the world culture both of which are on the top plantation is located near the tropic of cancer it's a very favorable area for coffee cultivation there's altitude climate and 1900 millimeters of precipitation per year it's ideal all matching energy going from bean to cup china is embracing coffee whatever form it takes. and i could do with a company that's business asia here and it'll be a for me in the team thanks for keeping us company.
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w. o o. o. o. o. o. o. this is news live from berlin a meeting of allies but note me saying it blinds us secretary of state's might from tehran chancellor i know that magical stress they have the same values that they agree on little else iran is the main cause of friction also coming out of the skull cap traditionally worn by jewish men is the focus of debate as the number of anti semitic incidents in germany rises a man who covers his cock whenever he leaves his home in bed.