tv Business Deutsche Welle February 25, 2020 7:30am-7:46am CET
the shape of. this is the journey back into the history of slavery i think will truly be making progress when we all accept the history of slavery as all of our history. our documentary series slavery routes starts march 9th on d. w. . the. global stock markets are down as the new coronavirus reaches europe and threatens supply chains in china factories are slowly opening up again but business is far from also on the program face masks cannot protect you from the new coronavirus nevertheless some asian countries have banned their export creating a growing problem for hospitals in europe and as u.s. presidents trump wraps up his visit to india trade talks between the world's 2
biggest democracies. i'm 1st welcome to the program the new coronavirus has reached europe and it is spreading. italy's been hit the hardest with some 220 cases reported and the death toll at 7 italy is the 3rd largest economy and an often fragile one its economy shrank last quarter and fears are the coronavirus could lead to a recession there the disease cluster is in italy's lombardy region the country's economic hard land lombardy accounts for one 3rd of italy's economic growth and it is responsible for half of the country's exports northern italy's economy is already suffering menaces famous carnival had to be cancelled early cafes and hotels remain empty now that hurts tourism accounts for 13 percent of the italian economy fashion makes up 5 percent of g.d.p.
and that's also flailing the most important fashion shows and design fairs take place in milan again in lombardy and italy's economy is tightly intertwined with other you european countries at least borders were to close it would be a disaster for all of the european union now the corona virus have been emic has yet again rattled financial markets the dow jones industrial average lost more than a 1000 points on monday let's bring in our financial correspondent chelsea delaney in frankfurt chelsea give us the latest on markets this morning all markets to appear to be stabilizing this morning asian stocks are next but futures for european indices do appear to be pointing at one reason and bester citing us that there did appear to be a slowdown and the number of new cases in elliott but also the number of new cases in china continues to slow but i think it's really too early to be talking about optimism here at the development of this virus has been really unpredictable. let's
take a look at italy here how concerned are investors about the impact on an already fragile economy and possible knock on effects. and esther's are very concerned a lot of economists are now saying italy is all but certain to fall into recession this here things like tourism retail hospitality are definitely going to be head but the bigger concern for investors is really going to be supply chain disruptions things like business shut down production line shutdowns that companies already are and posing and italy that could really have a knock on effects on. the other economies in europe just a day in frankfurt thank you. meanwhile many chinese are returning to work as factories closed over the coronavirus begin to reopen their doors however there remain plenty of mainly small and medium sized
businesses that still can't function because of the outbreak some of them risk bankruptcy if their supply chains are and reinstated. back to work but not quite back to normal employees at reopen factories are having their temperature regularly monitored companies that have only just got production lines back up and running don't want any further disruption from the coronavirus this health equipment factory in shanghai is among those now trying to make up for lost time. and. we've almost completely resumed operation in terms of production line workers. for sales and back office stuff we're trying to work in shifts. we're also getting people using digital methods such as web calling. but this car seat manufacturer also in shanghai around 86 percent of the workforce is back on the job but production is only
a 3rd of what it was before the virus closure at least it's back up and running data suggests many small and medium sized chinese businesses are unable to get that far they're being held back by a host of problems including supply issues an availability of staff and extra regulations related to the outbreak. the chinese government says it understands the difficulties. with the strong support of local governments and departments at all levels the overall resumption for small and medium businesses has begun to pick up gradually present the monitoring shows that the work resumption rate is close to 30 percent. so while the resumption of work at major factories is good news it's the health of china's smaller businesses that should perhaps be closely monitored representatives of the sector are warning that for many of them financial ruin could be just a few workless weeks away. now
a new corona various virus cases are soaring in south korea to more people have died in iran and the world health organization warns countries could face serious problem if they fail to hit back hard now some asian countries have banned the export of protective masts they're in high demand even though they cannot stop you from getting the virus called her and broke has this report checked company respite loan in part a no make surgical masks it supplies companies across the e.u. and even in north and south america restaurants corridors are now piled high with boxes since the covert 1000 outbreak business is booming demand has increased more than 10 fold. but the company normally supplies china with the raw materials for its masks. so-called nano fiber membranes made in the czech republic
there then assembled a chinese sites. however china has now banned the export of surgical masks to europe. the supply chain is broken down. chief executive roman sima sees a bottleneck developing rapidly. because we have. china right now so. are using. and solidities. or actually masks. all the pharmacies we checked up on while making this report said they had already sold out of masks. stocks university hospital surgical masks are a way of life but it's generally accepted here that no mask offers 100 percent protection against the new coronavirus even if they can be helpful shortages or
developing here as well. the. smaller hospitals in the area that we assist signaled last week that they can't get protective masks and face huge problems the university hospital specialized supply guaranteed that we'd have no problems for the next half year how they'll manage that i don't know. if they see it differently but across germany people are already wondering how to deal with the scarcity. when an emergency or mask may even have to be used twice and in the czech republic rest belong is working on getting a new type of mask to market in the near future. for that role might seem plans to relocate production and bring it back home. actually production facilities in europe or face mask but understood it's not enough that's why
our company actually looks right now in a new line oh and it we want to start actually the production will start at the end of my 1st to make it 70 percent of the world's masks are made in china there is now a very real danger that europe could run right out of surgical masks for several months. now u.s. president on drum begins trade talks with and yes prime minister narendra modi today expectations for trump's 2 day visit to india are fairly low despite good personal relations between the 2 leaders behind trump's warm welcome to india lies a strained economic relationship u.s. indian trade is high in volume worth 150000000000 euros approximately but it runs at a deficit for the united states the ministry said for more on the u.s. president's visit to india let's bring in the correspondents on our funny car in delhi sunny what exactly are the disagreements between both sides when it comes to trade with the u.s.
is one of india's top trading partner but despite those kind of deep economic ties the tooth to 2 sides a locked in disagreement over a range of crete issues and a big part of that problem this started last year with the u.s. suspended india's preferential trade status now that hit indian imports what $5000000000.00 india hit back with its own set of targets on a range of u.s. products including adman's walnuts apples metal items and the tap tap of the still in place that a major source of friction donald trump has also called india the king of. terrorists is certainly a thorny issue here and one of the other outstanding topics. well beyond the 2 was really struggling to find common ground in a range of issues from the u.s. perspective this is of course a huge trade deficit with india that currently favors india it's also concerned about price caps on made on medical devices made in the us rules in india that favor domestic e-commerce players for india of course it's looking for resumption
of export duties another area of concern for india are u.s. restrictions on so-called one b. visas that they used by you know indian i.t. companies to fly the engineers temporality to the u.s. to service their clients and that that remains a big problem for india so in which areas can we actually expect some progress in the talks between donald trump and today. well the simple answer to that is defense you know the 2 countries have really deep in their their defense ties and what we're expecting this time is you know donald trump said yes they were expecting defense deal between the 2 sides what 3000000000 euros that could include you know navy helicopters that could include a potential myside detention india's really become a major bio of us. and weapons and. so on if i like her reporting from delhi there where u.s. president donald trump is
a true hold talks with the indian prime minister her and remotely wrapping up his 2 day visit to india sunny thank you so much. thank you and that wraps up our program for the moment if you want more business news on background go to our website that's d.w. dot com slash business or better yet follow us on facebook or twitter i'm chris work over in berlin for me and the entire team thanks for watching and before we go here's a quick look at how global markets are trading at. the
a women especially in victims of violence in. part and send us your story we are trying all with and this thing. this new coach. you want to become since. the migrants your platform for reliable information. the man who once ruled hollywood is going to prison former film executive harvey weinstein has been convicted of 2 sex crimes including rape the verdict from a new york york court comes more than 2 years after revelations of weinstein's misconduct prevent propelled at the meet to movements against sexual abuse and sexual harassment and so the global spotlight welcome to arts and culture i'm
joined by our film reporter scott roxboro scott what exactly does this verdict mean for the film industry. well i think this is a real reckoning for the film industry a lot of people within hollywood who are hoping for more serious convictions against whites who might be disappointed by the outcome of this trial but i think the fact that a man who was once so powerful as harvey weinstein was within the film industry i mean this is a man who who had around 81 oscars to his name through through the various productions that he did the fact that a man like that could have been brought down all brought down in this way and will serve jail time for the crimes that he committed suggests that no one is too powerful to to not face justice and i think that's a major shift from just a couple of years ago where the kind of activities that harvey weinstein felt guilty of were almost accepted as part of the way of doing business in hollywood i