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tv   Business  Deutsche Welle  February 20, 2020 7:30am-7:45am CET

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i was into it. by choice do you scott because you can get away transmitted to the trolls. and. a us china trade deal that has global export or is breathing a sigh of relief or has it a new study shows that german export businesses are likely to take a hit as china commits itself to step up purchases from the united states also on the program facebook and google watch out the european union says it wants to compete with the u.s. tech artificial intelligence and as the new coronavirus severely limits movement of
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chinese travelers any tourist hot spot in switzerland is trying to deal with the fall. on chris colfer it's good to have you with us the new china u.s. trade pact could be bad news for german exporters that is the outcome of a study by the keil institute for the world economy in these so-called phase one of the deal the chinese commit themselves to buy u.s. products worth $200000000000.00 a year that means a lot of what china used to buy from other countries like germany will now be bought from american countries now the q research team estimates that german exports could shrink by 4 and a half 1000000000 euros as a result that is 5 percent of all total exports and now the new coronavirus has entered the picture and the harder it hits trade the worse things are set to become most vulnerable are the automotive aviation and. engineering sectors for some more
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analysis let's bring in our financial correspondent conrad booze and frankfurt conradt a negative outlook for german manufactures who are incredibly important to the german economy what are people in germany's financial hub making of it and of the phase one trade deal in particular they're seeing it as a mixed blessing chris let's not forget how at the end of last year everyone was so happy to see the americans and the chinese finally producing some constructive results which seems to have at least halted the spiral of escalation in this trade war between the americans and the chinese but now that the numbers are out of course businesses here in germany of course financial people are taking a closer look and they are seeing that somebody is paying a price for this peace deal and among those paying this price are german businesses is the german economy nakano what this all is
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a projection so far but should it become reality what can policymakers do striking their own trade deal with the united states i would suspect. absolutely right and they're already doing it the european union and the united states officials are talking not very loudly we're not hearing a lot coming out of those talks but they are on going but you know chris there's a problem with this too because the w t o the world trade organization is completely left out of the game here this is the institution that was created 25 years ago to exactly help us create fair conditions in global trade but the americans have completely shunned the w t o if not you know made completely ineffective and that is something that people most people here in germany i would say in the financial words do not like and
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meanwhile germany's blue chips index dax is trading at a record high how does that fit in. well it's the bet on continuously low interest rates that keeps the prices stock prices up. today if the chinese central bank low its lowered its most important interest rate the loan prime rate and last night the u.s. fed the federal reserve released the minutes of the last fed meeting that indicate that we and the financial markets can hope for no changes in terms of interest rates in the united states for the whole year so. financial conditions monetary policy remains in crisis mode but also very generous for businesses comrade those in frankfurt thank you. u.s. lawmakers have moved to remove aerospace industry tax breaks that have saved boeing up to $200000000.00 annually the move is an attempt to ease
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a trade dispute with the european union over aircraft subsidies it is more bad news for boy which has been beset by issues over its 737 max jet earlier this week of said it had found unwanted debris in the fuel tanks of some of the planes which have been grounded following 2 fatal crashes boeing says it still hopes the jets can return to service this summer. meanwhile boeing's european rival airbus says it plans to cut almost $2400.00 jobs from its defense and space division before the end of next year the unit employs a total of $34000.00 people around the world the cuts are a result of slowing activity for the space unit and delays 2 key defense projects speak airbus announced a 1200000000 euro fine from its a 400 m. military transport project contra bit to a 1000000000 euro loss overall for last year. the european
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union is already taking an aggressive approach towards the likes of google and facebook with its anti-trust investigations and tech tax plans but now the e.u. says it wants to beat the american web majors at their own game by competing with them on artificial intelligence. and brussels free university the european commission's president meets artificial intelligence headset view enhanced by a computer tomography image belonging to a real patient. we need clarity about data and especially in health research data is a bottleneck the european commission is supportive it's out to catch up in the race against the us internet giants millions of europeans have had. give them their personal data but europe aims to benefit from the next wave of battle for industries that are stopped now and you uk will be made better for.
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european industry is sitting on a wealth of data that could be shared in a continent wide mega cloud more data better artificial intelligence just as smart machines take ever more decisions about we humans comes all the way from nice to have to life or death so it is important to try to understand what is the kind of risk that we want to deal with on monday facebook's mark zuckerberg was in brussels but he found little solace the. it's not us that need to adapt to distract from it is look at films that need to add up to europe sounds like a clear call to arms in reality artificial intelligence is anything but again. it's to the ok now and the british businesses have been told to get used to the idea of a world without cheap labor the u.k.
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government has announced its post brags that immigration plans under a new points based system low skilled workers from around the world will not be allowed to enter. when british prime minister boris johnson looks out to sea one thing he envisions is a harder border for migrants wanting to work in the u.k. . home secretary pretty patel describes the scheme as a radical shake up with basically redefines immigration policy so the brightest and the best people with skills need to come to the u.k. and we will no longer have the roots cheap low skilled labor has dominated immigration on our labor market for far too long in this country. the new proposal would establish a points system with marks handed down based in english language proficiency skills qualifications current salaries and professions. only applicants with enough points would be granted a coveted u.k. work permit however many u.k. industries such as health care rely on overseas workers to do the heavy lifting and
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warned they could face labor shortages should the proposal be adopted it says if the very thing that the level of your salary the term move how valuable your worry is and what skills you have but we know that there are people in the relatively low paid occupations like social class who are skilled and fighting for unfair new system make a keep these people are out junkies new immigration scheme still needs parliamentary approval but with a wide conservative majority approval is all but guaranteed. now beijing's ban on group travel thanks to the covert $900.00 break in the country has hit destinations around the world hard that's especially tough for local businesses as chinese visitors are known to spend more cash there on average then tourists from other countries take interlochen in switzerland for example usually
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a magnet for chinese tourists but nowadays the numbers have dropped and the visitors that do are i have spend their money on face masks rather than swiss watches. straight to the top of europe the young fellow. where everyone wants to go especially the chinese normally 10 percent of the tourists here come from the people's republic of china but beijing's group travel restrictions to contain the coronavirus epidemic have seen tourist numbers fall dramatically in interlochen residents can feel the difference. also i got more space as residents normally the streets are full of chinese tour groups and you've got to watch out for them on their bikes when you're driving. along with them all told but right now it's quiet. this pharmacy usually sells luxury cosmetics to chinese tourists right now face masks are flying off the shelves pharmacists simona portman how to get more in. the end up until now i thought they were sold out inside
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a few hours we ordered a 1000 more packs they tore those out of our hands as well they barely arrived in the queue and all the way out the door if you don't get out of here chinese visitors in interlochen certainly means losses for retailers after all the swiss make 80 percent of their watch sales to the chinese but tourist earth already manager or kesler is taking a calm approach. to every crisis there's also an opportunity right now the chinese aren't coming i'm convinced the coronavirus is media hype it'll soon die down through i'm convinced it will all be over in a couple of weeks or so you can just a question of marketing then meaning that even if the coronavirus has led to a cooling of tourism relations the chinese love of switzerland won't be affected in the long term. and finally the international monetary fund says argentina's debt is not sustainable that conclusion comes at the end of a week long visit from an i.m.f.
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team thousands took to the streets in protest when the delegation arrived a 40 $4000000000.00 bailout loan issued by the organization 2 years ago is deeply unpopular in argentina the new left wing government wants to renegotiate upwards of a $100000000000.00 in foreign debt as it struggles under the triple burden of recession high inflation and the 28 market crash. and that up some program if you want more go ahead and check out a website a d w dot com or our facebook and twitter. thanks for.
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what secrets lie behind. discover new adventures in 360 degree. explore fascinating world heritage sites. w world heritage 360 get the maps now. to use crime fighters are back. for those most
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successful radio drama series continues this season the stories focus on hate speech prevention and sustainable production. all of a sow's are available online and of course you can share and discuss on africa's facebook page and other social media platforms. crime fighters to mindanao. this is. the american singing office live. at the brit awards ceremony in love choose they know. we'll be having a look back at that with my colleague david leavitt's also coming up today ukrainian filmmaker. started making his new movie whilst languishing in
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a russian prison now it's had its world premiere here in berlin. and arias after all is the cover girl of major fashion magazines at the age of $98.00. then known as the british grammys but choose the knightsbridge awards in london almost top the grammys for celebrities this year although most of the awards offer british musicians american artists turned up in force as well including the artist of the moment billie eilish let's have a look at some of the winners and some of the great performances starting with the one everybody was waiting for. really i wish graced the brit awards with her 1st live performance of the new james bond song accompanied by composer hans.

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