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tv   Business - News  Deutsche Welle  October 13, 2020 8:15am-8:31am CEST

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it's. shit watching t.v. news coming up thanks for got to be a business for you rick ferguson getting it all as always get the latest news information anytime you want to our website that's at. i'm terry martin thanks watch. this story stubborn rice farmer from thailand. his problem tests. his credo no chemicals. and he's trying to. step. out.
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the students on the pests don't stand a chance. of training successful. such that it. starts october 15th g.w. . the o.e.c.d. unveils a proposal for a global digital talks on some of the biggest names in tech groups says it could bring in a $100000000000.00 a year but countries a don't seem to be able to agree on how it would work. also coming up is china's economy back on track the latest trade figures show a significant rise in imports and exports in the month of september.
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first curfew in 70 years the german capital takes steps to topple a sharp rise in corona virus infections. this is the doubling of business i'm craig ferguson thanks for joining me. the organization for economic cooperation and development has unveiled a proposal to impose a global digital tax on big companies like apple is on the group says such attacks could bring in $100000000000.00 a year worldwide the idea of course comes as countries around the world struggle with the economic impact of the punt on the uk but not everyone has been suffering sales on profit that major tech companies have surged both apple and amazon have seen their stock rise over 50 percent so far this year at the same time the e.u. has complained that apple pays less than one percent tax on its european it made profits in the u.s. amazon pay just 1.2 percent tax on its profits last year that's up from 0 the year
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before so far $137.00 countries have agreed to a digital tax framework but they can't agree on how to go about it meaning a final decision won't come until next year for more on this i'm joined by dr hakim cos he's head of international cooperation on tax administration at the o.e.c.d. dr foss that morning to you could you tell us in simple terms of how this digital tax would actually work. yes i tried that in simple terms the digital tax is actually 2 parts one part stabilizes the system it basically says look you going to be taxed not just in the place where you have a physical presence because that doesn't make any sense in the digital world you're also going to be taxed or you participate significantly so in a digital age we call determined taxation purely by reference to physical presence and a 2nd part state as there's going to be a global minimum tax so we're going to make sure even to pay in the right place and
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we're going to make sure you pay at all and when you put these $2.00 pieces together it's complicated which is why it takes time for the $137.00 countries begin to make sure that all of these people pay a fair amount of tracks and they pay it in the right countries and that's what's changing with digital you can be present in many places where you may not have people and we're going to change that and we also get a change to everybody that makes money at least a minimum level of tech. that all the signs like a really good idea why then is it so difficult to get these 137 countries to agree on high to go about it. absolutely whenever he sees things there's 137 countries that have very very different interest you have developing countries you have developing countries that don't look much like developing countries you have countries that have a big digital industry you have advanced countries so there's a lot of different interests we haven't done this in a 100 years so many things it's hard so you want to get it right you've got to be
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fast to political pressure is the system needs to be stabilized so that it will work and it's a question of where does the digital economy go there's no point in covering 3 companies and next year digital moves on it's $100.00 companies and the whole economy's going to juggle so we need to have a response that sustainable today and tomorrow and that takes a little time so we're close everybody agrees we have a base everybody agrees it's a solid foundation we hope to be able to get the deal done in another 6 months but we will need probably another couple of months into 2021 to get it right i don't if you don't want to if there's no agreement on a deal if there is no agreement on the deal of basically the pressure is on the system is such that then countries or regions such as europe will probably act on their own the risk here of course is if you do it on your own or if it's really difficult to do it on that basis you will be taxing probably on a gross basis even if there is no profit so there is a risk overall to economy of the people who go on gross taxation there is
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a risk that there will be treat sanctions and there is a risk that there will be escalating trade sanctions so if we want to start out of the crisis into growth i think you much better off to find a global solution that continues to behave tax on net avoids double taxation it's more susceptible for for growth which i guess eventually will need if we're going to get out of the crisis and i think we're going to need some money to pay for all of this with a minimum tax probably fits right there. you know very closely dr often profit i think the interest. is here thank you very much for having. china's latest trade figures suggest the country may be on the road to recovery from the coronavirus imports rose over 13 percent in september compared to the same time last year exports were up almost 10 percent the thinkers indicate that domestic consumption is returning towards demick levels sales of moscow medical equipment and consumer electronics has been especially strong. for more on this let's go to
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financial correspondent chelsea delaney in frankfurt good morning to you however the figures from china are likely to go down here in europe. the growth story and china has really been the one bright spot in the global economy recently in china as the only major economy expected to grow in 2020 and part because of how quickly their economy has been able to restart how how many how much they've moved forward in terms of controlling the virus but this obviously is very important for europe for germany for all of china's trading partners and today's data the import growth is really quite notable this means that all of china's trading partners are really benefiting from the growth of and the chinese economy we've seen this also for example in car sales so german exports german car
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companies have relieved benefited from surging car sales in china so all of this does really point to china really helping to drive these other economies like those in europe those in the united states there were some want to figures and in this month of exports things like stockpiling ahead of a u.s. ban on. chinese tech companies but it does point to china really helping to drive growth around the world. as ever thanks so much. let's take a look now at some of the other business stories making news. government protests have taken place in buenos aires many are on how the argentine government's handling of the pandemic has compounded problems for an economy that was already in serious trouble before the crisis argentina owes more than 300 $1000000000.00 to its creditors. disney has reorganized its operations in order to put
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a higher priority on streaming services one of the world's largest media companies disney is seeking to take on the likes of netflix by making more original productions its shares rose by 5 percent on the news. a fishing rights remain a major source of disagreement in brecht's it talks between britain and the e.u. france in particular wants to maintain the right to fish in british waters even ministers say trust is an issue after britain went back on commitments made in the withdrawal agreement. as unemployment rises in the united states many americans are at risk of losing their health insurance at a time when they need it most around half of us citizens are insured by their employers congress has approved a package to make over $1000.00 testing free but the measures do not cover treatment. now here in berlin the government has imposed a curfew from 11 pm to 6 am in
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a bid to control the spread of the coronavirus the new measure is a blow to bars and restaurants which have had night time curfews for months that are struggling to keep afloat. 3 hours then the kathy kicks and the bombs to close for the night 11 o'clock that's usually when this place would fill up now while the dogs have to close it before people start to pour in compulsory masks social distancing and now the calf you never have had to face so many restrictions in the cost of capital. money on them all off someone would have to social distance in a room where previously 50 people would sit and now it's and we tend to 20 and it becomes very difficult from an economic point of view it's merely a question of time until you run out of money you're practically bleeding this i am as good as good as a migrant it's almost always as a business the new measures are pushing him to the brink of what's economically
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viable for him but as a family father vargas can sympathize. to pick up on my mother's daughter who is at high risk she has a heart defect and was hospitalized 5 times and his 1st 3 years on this i'm going to see your child suffer like that and then see how the situation is getting really dangerous you really don't want anyone to go through that process gets them but be fairly throughout the semester money money someone you might nightclubs have been struggling with brown about are so strict she's from months with alternative events like these they try to keep their heads above water but small concerts often all be profitable clubs have been shot from months many of them face financial ruin and cadaver dogs names that tens of thousands of them pro he's an artist are currently without one and so far have no prospect of continued employment meanwhile the costs for running clubs on just coming to a stop. light at the same goes for restaurants this evening 3 guests have
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already canceled their reservations at the order camilla the boss dick plan that was worried that it could get even worse. yard brawl screws your tools for untold worst case would be a complete lockdown then and certainly that next year around a quarter of restaurants won't exist in berlin your goal in germany i mean will watch law and given. barely any clubs bars and restaurants in berlin the bitter pill for the german party capital to swallow. germany go through the corner morris pandemic fairly well but the 2nd one is threatening a wave of insolvency those jobs are on the line and this is exactly what owners of balls restaurants and clubs food for the next coming months. and finally local businesses and i sense capitol records have clubbed together to rid the city's streets of a gooey scourge their funding 70 year olds who john off christmas campaign to clear the pavements of discarded chewing gum the job came just as he was made on employed
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oskar son has cleared away over 15000 faces of gone in the past 11 weeks he says he wishes people would stop on facebook before it got think they're going on the streets. and that's all for me and the business team here in berlin for more check out our website r t w dot com slash business we're on facebook and twitter it is for me and james it's goodbye and take. it forward.
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confrontation between china and taiwan the superpower is threatening to invade its neighbor. how serious is it. how is china justifying its claims. richard longer analyzes the causes and dangers of the conflict in taiwan china's next target cusa. next on d w. in the light of climate change. for.
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what's in store. for the future in the. car or to make decisions to incite. counter. last time on taiwan china's next target taiwan's military forces training for a scenario they hope will never have a chinese invasion from across the sea. and. hope that. china sees the self-governing democratic island off its southeastern coast as a province of its own a place that must be brought under its control and here's the thing china's.


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