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tv   Business  Deutsche Welle  January 21, 2020 12:30am-12:45am CET

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he takes it personally you already with a little bit wonderful people in stories that make the game so special. for all true for. more than football online. crisis management at high altitude the world economic forum kicks off in the swiss alpine village of davos and where else but climate change is topping the agenda also on the program the most expensive real estate market in the world seems the man going soft on our exclusive report from hong kong kong tells you the latest and with prince harry and his wife megan looking for a life outside of the limelight serious questions arise for souvenir vendors to windsor. over welcome to the program are you still sticking to
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your new year's resolutions well as of year would have it the world's needs are gathering to discuss what they can do to fulfill ambitious goals to make the world a better place and do a little business on the side of course the stage is set for the world economic forum in davos at the 50th anniversary of the meetings in spain ability and climate change are taking center stage. australia is burning the middle east is in crisis the global economy is flagging everywhere you look there are dire problems serious catastrophes meanwhile in davos everything seems calm but the snowy alpine landscape is only a backdrop as the world's elite prepares to descend on the little town in the swiss alps security is being cranked up at great expense for the heads of state and captains of industry. inside the congress center the focus in the coming days will be on the big problem. the same challenges climate change is top of the agenda
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participants identified climate crisis as the biggest danger for the future we need to take action now the organizers of the world economic forum and the climate activists agree on this at least traditionally davos deals with all of the big issues of the day some say davos is the best platform because so many key people are gathered here. critics however say it's all for show just meaningless speeches with that impact the founders of the world economic forum promise this is no talking shop this is a workshop they promised concrete results for this 50th anniversary meeting in the alps here we go again. the international monetary fund has cut global growth estimates for 2020 at the world hong forum i.m.f. chief chris. says the organization estimated global growth for this year at 3.3 percent down 110th of a percent from october projections missed cited increased risks over growing
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tensions with iran the us china trade war and weather related disasters as reasons . it is the world's most expensive real estate market but prices in hong kong are now under pressure after months of pro-democracy protests and while some losses are surprisingly large experts warn against too much pessimism for buyers. hong kong's real estate market is the most expensive in the world after months of democracy protests real estate prices in hong kong are falling this tiny shop of less than 2 square meters in a cramped corner of want is a powerful symbol of change former investment banker turned property fund manager edwin li explains. this is this shop that very much to pay so based on my best lot of shared memory the shop lost the most money in hong kong the store was once a currency exchange kiosk but the tourism downturn means it's now a real estate office bought for just over
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a 1000000 euros it sold for less than half now because that because his 2nd home always the repo market and people simply not willing to buy shops anymore so that land not once in a hurry to sell the shop then what so it wouldn't without it a big loss. and it's not just the little shops like the one in one shy the downturn could even hit prime real estate like homes near hong kong's high speed rail terminus this links the territory to china and real estate here is much sought after by mainland chinese demand is softening because they are now staying away. property consultant vincent chung says there's no cause for panic because no one is in a rush to sell it. in whole call i guess more than 60 percent off the properties which with. them is more most of. all older 'd they don't need to we pay the mortgage and that's why i say they can't wait to see even
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though the market is a lot worse at this structure why now that they don't have to say so i would hope they seem that wash and that's why i say that's a lot must say at justin and all caution all the pies at this moment. the economic downturn ended the longest bull market in hong kong history. but the economy is solid no one is writing hong kong off yet. me you just brought back that report from hong kong clifford what are your impressions of the real estate market among ordinary people in hong kong well i think people are looking at this and i think that they it's almost time for a correction i mean the prices are very very high and every one of you seen that people do back the protests largely i'm part of the reasons is the dissatisfaction on congress because property prices have been so high so my level i think. among ordinary people i think there is people are not too worried about the fact that prices are falling it also means that rents are more affordable and also for
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businesses in the city center of makes it more affordable for for rents but now we're looking at a question about how far that could fall and looking at office rents it was a survey today saying that they could fall by 40 percent in the next 2 years so while people are feeling ok about it i think they're also maybe they just don't want to things to fall too far you mentioned the pro-democracy protests there how big is the role that these protests have played when it comes to the economy i think the people while there is a broad backing for the protests they also do create uncertainty and markets and investors and everyone in the economy doesn't really like uncertainty so i think that's that's been the big factor as we know real estate as we've seen this incredible market in hong kong which has grown for 15 years now and it's just become such a huge market but the protests of certainly created a cloud of uncertainty and i think that this is something that people are slightly concerned about and going forward they'll be hoping that a resolution is reached so that the market can recover quickly as it always has done before prices in hong kong is red hot real estate market suddenly declining
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clifford coonan from d.w. business thank you. and now to some of the other business stories making news and anchor on monday the hearing has started of a senior executive of china's tech giant huawei to determine whether she will be extradited to the united states may 1 joe was arrested over a year ago and is charged with bank fraud for misleading h.s.b.c. about why always activities in iran china is calling on canada to release me c.e.o. of google owner alphabet to sun up each says artificial intelligence must be regulated but any new rules must balance the potential arms of technologies like fakes and facial recognition with the opportunities they have he was speaking in brussels days before the european commission is due to publish new proposals on ai . sources in france say paris and washington have pushed the pause button on the battle brewing over a french plan to us that
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a 3 percent levy on revenue from digital services earned in france the e.u. is growing increasingly uneasy about its dependence on u.s. companies for digital services which is the topic of a conference this week in munich. how can your better position itself in the age of digitalisation digital life design in munich business in media representatives and politicians are looking for answers we are not changing ourselves we have directly to become a digital colony of the us of china if google decides tomorrow to switch off its services for europe then what might you see still on the screen he clearly fears they'll be nothing that's why e.u. commissioner. has announced a single e.u. digital strategy it's true that my ambition is that your brand. will be used for your print company and priority. for us to create value in europe.
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and not just that the e.u. commission's digital strategy should lead to common standards for 5 g. technology companies that promote europe's internet sovereignty will benefit the most stricter security measures will also be introduced for the collection and processing of data and more funds will be invested in artificial intelligence internet experts are skeptical about how the e.u. can finance the measures. they don't often see evil training offensives and economic offensives all cost a lot of money but there isn't any budget for them with european countries will really have to combine forces according to the atmosphere at the meeting those goals all can be achieved by working together to answer your can now where prince harry and his wife maggie decision to pursue in life outside of the limelight has
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sparked a heated discussion and dropping the royal title not only has consequences for the famous couple as our next report shows home to a princely residence and some very british gift shops the town of windsor some 30 kilometers west of london has long been synonymous with royalty. but recent events of cost over the viability of $1.00 of its most popular brands harry and meghan case in point this bobblehead figurine a perry in military garb was $99.00 not yours for 2 pounds last. memories and we do surprises us because they're not a party for a family anymore after the spirit of surprise and are going to go to saints and those we just want to sold all the stock records you're going to want to keep it in the show or in the car so it's nice of you to clear the stock bestir. from cut price royal wedding themed biscuit tin. to baby archie focused specialty mugs.
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gift shops around town are selling off their howry and mag in march. it's a trend the couple may not lament as they embark on a quest for financial independence and a life that no longer involves flying the royal. baby r g m r s get them while you're ok. thanks for watching and if you want more check out our website at d w dot com slash as. a result of successful. every
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2 seconds the person is forced to flee their home. the consequences into sas trysts our documentary series displaced depicts traumatic humanitarian crises from around the world. for good thing we don't have time to think i didn't go to university to kill people. i mean a handful of people feel for their lives and their future so they seek refuge abroad but what will become of course who stay behind and simply up
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a little my husband went to peru because of the crisis suddenly i wonder if he hadn't gone there we would have died of hunger going on one of them. displaced this week trying to double. how's the view of the well. where i come from but over that to get to cisco it's just like this chinese food doesn't matter where i am as it was reminds me of home after decades of living in germany china's photo is one of the things i miss the most but that taking a step back i see something new to the difference for me now. many of for its 1st as american a sense that exists the other part of the war haven't been implemented in china catch me if i'm not to china it's a full wondering if therefore it is safe to leave but if you're having arrived to
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another cigarette is this is the job a job that or for my how i see it as a deficit why i love my job because i tired to do it exactly it is an hour a day my name is the uninsured and i want to add to that view. hello and welcome we've got a packed edition of arts and culture today so without further ado let's see what's coming up a surprise at the screen actors guild awards in l.a. as a career in film beats hollywood for a top prize but other awards going as predicted. and modern church architecture brought to life by french photographer.
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we begin though with a new holocaust exhibition here in berlin at the house of the vans a conference this house was the notorious meeting place in 142 of leading figures in the nazi government who planned what they called the final solution to the jewish problem and with next week seeing the 75th anniversary of the liberation of auschwitz birkenau concentration camp this exhibition examines this country's darkest chapter. 94 year old eva for heidi travelled all the way from hungary to be at the exhibition opening a whole family was murdered in auschwitz she survived passing on her story is very important to her and get recently certain things might inhalation especially those .


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