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tv   Business  Deutsche Welle  March 11, 2020 7:15pm-7:31pm CET

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vessel in its science team will drift together with the ice over the arctic ocean to better understand this region that is so crucial to our whole planet. of bacteria only they'll do better for 0 how's your business updates with the look of the economic effects of the crowded virus outbreak on kenya more world news at the top of the hour of the day. what secrets lie behind. discover new adventures in 360 degree. and explore fascinating border overheard 2 sides of the coup d. w. world heritage 368 get me out now. earth
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home to millions of species. worth saving. googling dio's tell stories of creative people and innovative projects around the world ideas that protect the climate boost green energy solutions and reforestation. using interactive content to inspire people to take action global audience and series of global 3000 on t.w. and online. across the virus pandemic could see a spike in food prices in kenya the global outbreak is hitting all sorts of local businesses we'll catch up with our correspondents in the capital nairobi. traders and got a start your bunch of supplies that are normally imports almost $5000000000.00 worth of goods from china. but the chinese province of the center of the outbreak
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allows factories to reopen the ghost town to beijing show of confidence that it has things under control. let's do business so far kenya has been spared the coronavirus but the economy is suffering because of its extensive trade relationship with china with travel bags in place flights canceled and restrictions on certain imports businesses are starting to have trouble keeping shelves stocked economists warn prices are likely to spike. in nairobi the store shelves are well stocked for now but many shop owners warn their supplies of clothing electronics and other goods made in china could run out by months and. shipping is tapering off in kenya's major port mombasa due to restrictions on trade with regions affected by coronavirus like china and observers say that could cause prices to spike throughout the country. china is also responsible for hundreds of
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millions of euros in direct investment each year including in critical infrastructure projects investment which could be in danger if the worldwide crisis continues each one drop in china's domestic investment equals a point 6 percent drop in africa so at a high level i'm really really worried that this feedback phenomena is now going into reverse this is unprecedented black swan event and i think we are we are going to really suffer the economic fallout from what is happening in china. with supply chains are structured around the world the kenyan government has faced accusations it's failing to prepare for the worst. and that could mean shortfalls of critical goods like pharmaceuticals as the coburg 900 continues to spread. and it's going to have to directly for joy doreen beera is that criticism of the
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government justified. one would say yes it is justified but then on the other hand it will sink the government is doing everything in its power to keep the coverage 19 out of the country but when it comes to you know the criticism of the government in one way or another there are some experts who have blamed the government for not exactly doing enough and of course not protecting the businesses of people because this virus has been and precedent it and therefore at the end of this month some of the business people in the country are predicting that they're going to run short of stork and then they will not be able to import more stock because as is at the port of mombasa which is the biggest port in the east african region has not doctor but 2 ships 2 cattle ships in that at the end of this month it's not just kenya that's going to suffer it's also by extension the
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neighboring countries that use the borders for importation tell us more about the types of businesses that are affected. well there's so many small medium and large scale businesses as well that highly depend on china for manufacturing but also for the importation of finished products electronics clothing and textiles and so many others as well we've seen some business as well importing food from china and selling it here in kenya so all of those businesses are going to be affected those that manufacture in large scale to come and sell small scale in kenya as well are being affected and by extension the east african region what about tourism kenya has become a top destination for safari send i mean you could get any further away from the virus there went on safari. right and one of the source
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countries for kenya is tourists one of the new source countries has been china for the past 3 years and having this corona virus outbreak is cutting short expected revenues for the tourism sector in the country and largely around the african continent because the figures have been poor at about $600000000.00 on the african continent that is likely to be lost as a result of the group members outbreak it really comes the aviation industry as well that has been affected kenya has had to cancel all its flights to china to and from china and so there are big losses that are being expected on people talking about the economic fallout as a result considering that kenya highly depends on china of not just for most of its business but also for foreign direct investment just by thinking you put a price on the losses made on exchanges a list of companies. on the 4th of march the nairobi securities exchange
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said it had lost about 125000000000 can issue ns and that was just in a day he saw all foreign investors and now looking into you know are seeking shelter that is from fixed income assets and that is where most of the investments are going so there are big securities exchange ease suffering as well and many other sectors as well and yet to go for government bonds and things like that but then we cannot tell how long this is going to continue our door and there are thank you very much. thousands of businesses and traders in ghana rely heavily on products from china to serve their customers but the paralysis caused by the disease means they can't get access to vital supplies at a struggling to stay in business. joseph bang has been trading in lighting and electrical products in akra for more than
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a decade he imports over 70 percent of his products from china the outbreak of the coronavirus worries opening his current stock will only last for the next 2 months he's afraid it could push prices up affecting consumers we talk about demand and supply demand is high definitely the money of course that. has always consume would be meat and then this form in the middle place is going to go up. consumer products from china used to arrive at ports like this one every month but there hasn't been a delivery here since the outbreak of covert 19 and local importers are blocked from traveling to china to bring in more goods now they fear the worst if the health crisis continues after march there's not even fright in the 1st place.
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those countries. those are. some bull. so this is a big fuss. in $28000.00 alone trade volumes between ghana and china it's $7300000000.00 imports from china alone accounted for $4800000000.00 that makes gun a chinese 7th largest trading partner in africa guinea and stupendous on chinese products and experts say gonna and other african countries don't have an easy way out of the crisis. and even if you decided to go to europe. in europe and how many businesspeople would be competitive. so i don't think that is an issue that we can get.
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ok we don't really mind. with. because. for now all that open can do is hope for the virus to be contained in the coming weeks to keep his business healthy. well it can all be traced back to a city of 11000000 in central china and the epicenter of the new strain of corona virus disrupting global commerce. starting to go back to work after a lengthy lockdown if this ghost town is transformed it will be a positive signal for the rest of the world but there's reason to believe things won't immediately go back to normal. carmakers are already signaling a return japanese firm honda saying it will restart work in its factory on wednesday rival nissan saying it's partially restarting 2 plants in the surrounding
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who bay province china is eager to show that industry is getting back on its feet it's routinely releasing videos like these showing factories in full swing but many businesses and especially larger manufacturers are operating under reduced capacity they lack workers many of whom haven't made it back from the lunar new year holidays due to travel restrictions and distribution of goods also remains a problem due to transport and flight restrictions. and even as infection rates steady there are questions of whether the worst is over or if the disease isn't yet done with china. there are still many cases who pay province and move on and control as arduous spread of the disease overseas adds uncertainty. and uncertainty it's still the key word as china tries to reboot its industry in a global economy. some of the stimulus measures countries are taking to shore up their economies the bank of england has unexpectedly cut interest rates to just a quarter of a percent governor mark carney expects temporary but significant disruptions to
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supply chains and we can activity meaning increased demand for short term credit from households and companies. german chancellor angela merkel says her government will do all it takes to ease the fallout from the outbreak that could include easing strict rules and increasing public spending medical science forecasts that 2 thirds of the country could contract the biarritz. italian government is pledging up to 25000000000 euros to mitigate the economic impact of covert 19 a 1st tranche of funds will be detailed in a decreed later this week it's expected to go to propping up the health system covering welfare payments and supporting business since. the international monetary fund says spain should be allowed to hold off on structural deficit cuts this year as it adopts one of measures to support the economy during the epidemic the dritte has promised to do whatever it is necessary to overcome the crisis it is expected
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to unveil a package on thursday guaranteeing medicines and providing loans to businesses. and in the u.s. a survey by the institute for supply management shows nearly 75 percent of manufacturing and services firms ever boarded supply chain disruptions washington says the system is in the pipeline for victims who are not getting sick pay and small and medium sized businesses. the u.s. government is giving while away another 45 days to do business with american companies this is the 3rd extension from the trumpet ministration officials say they're concerned the chinese telecom giants equipment uses lax software that could allow china to spy on communications traffic the company has denied the accusations . nice doing business with you anyway.
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enter the conflict zone. after the journalist stuff we currently see up close itself has become a firewood for fun so corruption is my guest this week is the country's foreign minister and response to the fee says he wants to prove most is tanishq image from how many more secrets have to come out the facts will be possible. conflicts so for
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. 16 t.w. . every journey begins with the 1st step and every language with the 1st word published in the. code is in germany to learn german why not come with them simple online on your mobile and free shop d w z e learning course nikos free german from a to z. . the for. this is africa coming up in the next 15 minutes fighting fear with faith pastas and training in northern nigeria contemplating mottos also life and death. i'm sometimes even give you a life where you wish you. didn't work enough so we meet live on t.v. that energetic presenter of a t.v.
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entertainment show a mojo is i'm going to. own it and. that's inspiring other all being those to fulfill their protests.


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