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tv   Business  Deutsche Welle  July 17, 2019 10:30am-10:46am CEST

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but you take one to mean you know exactly what it is and you put it into another plan to make a map exactly where it is grown i think we will be able to provide you know food for people by 2050 if we can make crops to grow under 70 arid conditions this will be a much greater stability in the fruits of flaws that we have at the moment. facebook wants to launch a new digital currency lawmakers on both sides of the atlantic sound the alarm we talk to one of germany's top economists to find out what the fuss is all about. also coming up if you're planning on buying a lamborghini make sure it's the real thing fakes are trending from brazil to iraq
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. and lake malawi is one of the great lakes in africa but overfishing and climate change threaten this vital food source. i want to get jones what have to do nothing of business. still currency financial leaders around the world have sounded the alarm so what is it all of ballard's now like a bit coin libra would enable computer payments via blocked change acknowledging it to make libra less volatile than bitcoin facebook plans to back it with a basket of real world currency is like the u.s. dollar the euro and the japanese yen what also sets libor apart from bitcoin and the likes is that it would be backed by big companies including visa master card and pay pal facebook says that more than a dozen partners will help built fund and govern the libra system the baseball
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copes to raise as much as $1000000000.00 us dollars from existing and future partners to support the effort and libra is set to launch in 2020 but 1st facebook has to convince regulators on both sides of the atlantic and i'm going to talk to one person now who isn't convinced just yet peter bofinger chair for monetary policy and international economics at the university of the book and of course former member of the german government council of economic experts a good to have you with us on the program so you are actually an outspoken critic of libra why. yes good morning in my view libra is a wonderful business model for facebook but not a very good business model for its customers why well is selling a token sleeper
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a poke in which they put us in 0 costs for real dollars for real euro's and they do not assume any legal obligation for those token so it's just creating money out of nothing and the problem is that the holders of the proponents have no right to be proud that the money they give to libra build given back to them but there's a major difference to a bed deposit where you give money to the bank and they have to return it to you if you wanted hopefully hopefully that is the case but there are certainly big companies i mention it mastercard to these are pay pal you name it. backing this new system on facebook also says i'm like bitcoin they want to link libra to dollar to the euro to the yen in a kind of exchange rate that should make it a bit more stable shouldn't it well but the currency basket which underlies we brought is also respect calls a currency basket means if you give euro's for instance to libra then you will have
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if you take the currency basket structure of the special drawing rights which is the currency basket of the i.m.f. then you have only 30 percent of your own currency and 70 percent of foreign currencies so libra is always a foreign currency vestment and so it always has an exchange rate with which you do not have if you have the money in your own currency it is the problem with libra also to a large extent perhaps down to the fact that it's facebook behind the digital currency because. colorado on that facebook's track record when it comes to being trustworthy is somewhat tarnished do you think that that is the problem. well overall the problem would be if you have a private company running a global money this would be something which is very dangerous because a monetary system a global currency is an important public good and it should not be run by a private money police but it should be run by governments by central banks who are independent and not by
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a private monopoly i just very briefly. because the digitalisation is changing the financial landscape ah central banks the traditional banks keeping up while digitalisation will change the financial landscape i don't see the main development in the creation of new currencies i think the main development bilby digital but forms peer to peer lending platforms mitra challenge the business model of thing so there is a risk that we'll have a uber ization of banks that bill be real challenge for the traditional banking system right peter bofinger their top economist here in germany thank you so much. elon musk cast revealed the project his brain focused startup is working on he said noura league wants to create tiny implantable chips that will enable people to communicate with their smartphones using their thoughts proponents say the technology could also be extended to other devices such as robotic arms which could
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help people suffering from paralysis musk's ultimate goal is to link the human brain with computing power. rhythm june wasn't a good month for car dealers here in europe figures released by the european automobile manufacturers association show that car sales dropped by 7.9 percent across the e.u. and that is the biggest fall since december looking at the period from january to june you car sales down on more than 3 percent compared to just under 8200000 new vehicles were registered in the block sales declined in all major your markets except for germany where they rose by point 5 percent. for more let's bring in our financial market correspondent daniel cope in frankfurt danielle germany a big car nation can we be satisfied with those latest car sales figures. no monica we actually can't even though in germany the numbers don't look at that
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bad and of course also a comic around here won't go bankrupt because of the numbers that are affected which kind of state the car market currently is because the side of the official reason that there were just less days during the months were comic as we're able to sell cars the entire market is currently not sure in which direction to be heading it will billet he is certainly a big factor politicians are pushing car makers to invest more and to sell more e-cards but do we really see more e-commerce on the roads we don't they are still very expensive in rural areas you won't find many charging stations so lots of work and still a big investment that need to be done and also in general the economical sentiment is not really helping as well it seems that people at the moment are a little bit reluctant to do a big investment and a car certainly is a very big investment indeed don't you cope in frankfurt thank you so much
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well talking of cars police in brazil say they shut down a clandestine factory that was producing a fake lamborghinis the cars were offered on social media for $45.00 to $60000.00 that's a lot of money but just a fraction of what the real thing would cost you brazil of course isn't the only place where you can lay hands on your dream car. this engineer has stolen the show at this terror run tech fair but that's not all he's stolen shots must suit murat he spent 4 years building his dream car in a lumber gainey the economy of the islamic republic is plagued by shortages and imported luxury cars from abroad or out of reach of nearly everyone so the next best thing is to build your own. apologize to lamborghini for copying their idea and their design but really it's the italians own fault because they're the best.
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40 years after the islamic revolution iran is as isolated as it is ever been american sanctions are hitting the economy hard many here blame their own government which is bogged down in expensive military conflicts in yemen and syria while its own population suffers dissatisfaction is growing and people are forced to find ways to make ends meet. the japanese engine in this iran board has only half as much more spare as the original but its message is one the government would probably like you could look powerful even if you're not really and you can do everything by yourself. well speaking of the rich and powerful in other words those in the market for an actual lamborghini there has been a shake up at the top of the world's richest amazon founder jeff bezos is still at
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number one with a fortune of over 100000000000 dollars but the number 2 spot changed france's nor of luxury goods make l b m h s clinched it after the value of his company rose in the past few days that pushes microsoft founder bill gates known for his philanthropy to number 3. 1 of the great lakes of africa like malawi covers almost one 3rd of the area of the entire country of the same name it has long been a major food source for the region but for years fish stocks have been doing thing and now climate change is playing its part in further damaging livelihoods in this impoverished country. evening sets in it's. a small port on the shores of lake malawi. fishermen return after a day's work on the water fish are important here as a source of food and money. but the catch disappoints as has become the norm lately
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buyers and fisherman who goes here for traders take the fish they have bought to be prepared for market the industry here is not like it once was overfishing has devastated the stock of nutritious fish that used to be the main source of protein . do it was easy to catch fish in the past but these days people find it difficult they can go fishing in the evening and return in the morning with only 2 tins of fish fish is now scarce on sustainable fishing practices are one of the main reasons behind the reduction in fish stuck locals have resorted to catching smaller fish that are not yet mature that has made the situation worse. people kill the smaller fish because of poverty fishing is their only source of money they're able to buy food only after selling the fish and that's why they kill the smaller fish. but overfishing isn't the only problem climate change
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is also to blame locals said the rains on the lake have become more intense that makes sailing harder for fisherman malawi is one of the world's poorest countries and it has a long history of food crises the world bank ranks it among the top 10 most at risk countries to climate change in africa as well so these are worrying times here and for the locals in saying there is considerable doubt as to what awaits over the horizon. and that is your business update here on d w from me and the team in berlin thanks for keeping us company.
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i am. i am i am. 50 years since the. jeep was the 1st man to walk on. fire. as a small boy dreamed of the stars. as
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a pilot he says the same no matter how. you're going to. miss an astronaut he took part in the greatest adventure in history. armstrong was his destiny starts july 20th on d. w. . hello and welcome to arts and culture we'll be looking at one enterprising french architect solution to the housing problem in cities also coming up. streaming music or movies is the name of the game is big brother watching.
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techno in berlin through the eyes of photographer martin abel or. more and more people all over the world are moving into the cities and in cities are getting cramped and there's less room for new housing so not 3 architects look upwards where there is plenty of space blow all the white tree is an extraordinary tower block in the southern french city of mobile yeah which aims to turn the bad reputation of living in a high rise on its head. it's an attention grabber the white tree it will pay you surprises passers by and delights its residents. this is the balcony where we have breakfast and here we have an appetite and this is the balcony where we just relax. and mostly as spunky is having the last of her
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lamps hung she moved in a few weeks ago having sold her house in a suburb.


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