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tv   Business  Deutsche Welle  September 25, 2019 6:45pm-7:00pm CEST

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welcome to all the business i'm sure nelda on in berlin today many in germany are looking to china wondering how they did it because while the capital berlin is still waiting for its new airport to get off the ground a full 13 years after construction started and 8 years behind schedule china's president xi jinping officially launched a glitzy new mega airport around 50 kilometers south of the capital beijing today and it took just 4 years and outward demonstration of might amid a difficult time within the country. shaped like a giant starfish beijing dossing international airport took just 4 years to build and cost $60000000000.00 euros it's already the world's largest single airport terminal building it's going to be one of the busiest president xi jinping cut the ribbon on the bus terminal the launch comes just ahead of the 70th anniversary of the people's republic of china a mass of days in the ruling communist party's calendar wash and cool. i
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hereby declare beijing dossing international airports officially open. the airport is a powerful symbol of china's rise putting on a show of strength is important right now china is seeing its biggest economic slowdown in decades because of a better trade spot with the u.s. designed by the late iraqi born architects deed the new airport will it 1st cater for 45000000 passengers by 2025 that will rise to 72000000 making it one of the world's most popular hubs. beijing dossing international airport is still smaller than the world's busiest airport in atlanta with 107000000 passengers followed by the existing beijing international airport with 101000000 and dubai international with 89000000 passengers passing through every year. but it's the 2nd major airport built in beijing in just over a decade beijing international is already full while environmental activists
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elsewhere ask questions about the future of mass air transition china's aviation future is just taking off. the china u.s. trade war has dampened economic prospects in asia with the asian development bank downgrading its growth forecasts for this year and next the bank scaled down its predictions from 5.7 to 5.4 percent this year and down a fraction next year to a glimmer of forecasts reflect clear fears that the us china trade found off could escalate or even spread to other countries in the region for more i'm joined by yes the u.k. sawada chief economist of the asian development bank mr sawat welcome now 5.4 percent growth in the region i still really good by most measures but the euro zone in contrast for example is projected to post just 1 point one percent growth this year how worried should governments really be. so actually as you said the
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5.4 percent growth is quite robust if we exclude already high income in asia and korea chair in china and singapore growth rate overall growth as high as 6 percent and 6 percent if economy continues at this growth of about 12 years it will make a size will be doubled so i think 6 percent or even 5.4 percent is still very robust so in that sense. over all of us many of the government center bank also it is being going very well now having said this in addition to that truck that the u.s. china trade tension over all groups global growth slowed down and also due to down was. same conduct production cycle these are the main element why we don't want to buy slower growth forecasts
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a lot of downside risk for them but what are some of the challenges that you see for the region in terms of guarding itself against the effects of these ongoing trade tensions so going. there are multiple channels affecting asia economies in addition to indirect effect chinese or gross exposed will generate a negative impact on. other asian countries grows through separate chain group about your network but the same time exports rodin with china to the u.s. will create the opportunity through shifting export from china to other asian economies so you're at the top these opportunities i think it's very important to strengthen capacity of production expansion and also absorptive capacity of 40 direct investment. now you mention the opportunities that china's trade issues have
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for other countries within the region where that able to move into the space and export more does that mean then that the trade war does produce some winners. not necessarily i think overall. chinese a grocer they've been to china is directly affected however. across the board i think overall asia call me dumb potentially again through this shifting export from china to other asian economies so it is a typical country gain a lot from trade shifting and also did come out like a bomber there seems to be gaining by expanding our government products on the perot exports to the us market thank you very much iasi yuki's a lot of their chief economist of the asian development thanks for your insights thank you very much now to some of the other global business stories making news.
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the former head of the bank and a stone. has been found dead reports point to suicide it was part of the ongoing investigation into an alleged money laundering scheme investigators allege that don's got funneled some 200000000000 euros in illicit funds through its tiniest branch during re is 10 year. the german subsidiary of thomas culp has filed for insolvency following the collapse of its parent company earlier this week 140000 holidaymakers are currently traveling with the firm and other local affiliates it is unclear how many customers will be affected. the advisory board of germany's tucson probe has called for sea care cost to step down after just one year the engineering and conglomerate looks to revive its fortunes after cutting profit forecasts it dropped off the dax earlier this month. germany has had its
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biggest tech i.p.o. in 2 decades. which makes a video conferencing and remote working software quite public in frankfurt earning investors billions in the process the company raised over 2200000000 euros. time to check in with early boards and frankfurt early now team of you are hardly a household name there how did the public offering go. well you know terms of the share price didn't go all that well the share price came in a. little bit lower than the offering price of 26 year old $25.00 and it continues to slide and it's trading lower now so not a very warm reception here but people put that up to the ambitious pricing. team viewer has recently started making profits and it's growing hugely but it still was a price that many investors apparently thought was just
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a little too high the atmosphere there was as enthusiastic as i don't know if i've ever seen the team viewer but almost half its staff i would hear 300 people down on the floor ringing little bells accompanying the big bell ringing on the podium by the big shots quite an atmosphere here in the morning when that took place. the i.p.o. if not necessarily a very successful one but turning back to the earlier story about to syncro c.e.o. being asked to leave can you tell us what exactly is going on there. i know i can't i can only surmise what went on. his been going downhill for years and it's recently dropped out of the docks because it just didn't have the market value anymore and you know talk of has been on board for years he was the finance chief before becoming c all last year and since becoming c o the situation has not become better there's been
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a strategy going away from still then when the e.u. forbid a merger went back into still. proclaiming it's a key business there's uncertainty about the elevator division and now the supervisory board chairman is going to take over in the interim while the company looks for a new more suitable candidate arguably a poison chalice anyway only barter there in frankfurt for us thank you very much. a british exit from the e.u. without a deal is looking more likely by the day a nobel prize that can turn the french part of cali into a major choke point to prevent this france has introduced a new border system and it was comprehensively tested for the 1st time have a look. there are no long lines to be seen here at the dress rehearsal for a no deal brags that france has prepared itself for the emergency with a new digital border system. of the bridge that will have to reintroduce border
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checks even if the e.u. and britain don't impose customs duties exporters and importers will have to fill out forms again you can use our system to do that online in advance human calais they just scan in the barcode and continue on their journey though and could. only certain items like food will be physically examined at the border hundreds of border guards are getting ready not only do they intend to prevent waiting times they also hope to cushion the adverse effects of brecht's it after all kalai is the main hub for trade between the e.u. and britain invest. of course we know that a future tariffs are imposed on our business could suffer here especially of companies started exporting or importing less between the e.u. and britain ubiquiti meet. little but we've made it our business to be prepared.
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and we are even for a no deal breakers it. but it's still up in the air if the new board a system will actually go into effect at the end of october. that's it for me and the business team here and berlin for more business news and features check out u.w. dot com slash business or follow us on facebook and on twitter i'm john el-gamal not in berlin thank you very much for watching.
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