tv Business Deutsche Welle July 15, 2019 10:30am-10:46am CEST
other part of the war haven't been implemented in china that's new but i'm not attacking people wondering if they're putting a lot of people have a right to learn all that is this is their job i'm sure that if they're my how i see it and that's why my job because i try to do exactly the hour a day by name of the names you and i work at did that due. 2 to. 6.2 percent is not enough china's economy grows on its slowest pace in nearly 3 decades we go live to the financial hubs in hong kong and front for all the latest . also coming up is there a new trade war simmering in asia south korea and japan are involved in a widening political and economic dispute that could threaten global supplies of
microchips on smartphone display. and built on sound how a german could use this remember libyan desert sound in polymer concrete put building houses. come to do business i want to get jones in berlin good to have you with us and we're starting with china the country's economic growth has fallen to an almost 3 decade low the latest quarterly figures show the economy expanded by 6.2 percent growth of some countries would certainly kill 4 but in china it's the worst result since the early ninety's so what's going on and should we be worried. in the past 3 decades the chinese economy has undergone an extraordinary transformation developing from an inward looking agrarian based society to a major industrial powerhouse growth has been rapid for years double digits were
the norm now the pace of expansion is slowing down in the last quarter g.d.p. rose by 6.2 percent solid by many standards but for china the worst performance since the early 1990 used the government's been keen to offer reassurance but doesn't deny there are problems from. from one year and generally speaking economic performance in the 1st half of the year was within a reasonable range and has sustained momentum and overall stability. however we should also be aware that the economic conditions are still severe both at home and abroad huge global economic growth is slowing down the external instability and uncertainty are increasing the unbalanced and in adequate development as home is still accused the economy is under a new downward pressure. much of that downward pressure is a result of the country's ongoing trade dispute with the united states which has
seen the introduction of hundreds of billions of dollars in punishing tariffs. but there are home grown problems too for years chinese companies have taken advantage of largely on regulated lending leading to warnings of an impending debt crisis not to weakening global demand don't you have a cocktail for a further slowdown in the future a source of concern far beyond beijing this year's size of the country's economy now means what happens to china happens to the world. often more i'm joined by catherine young from fidelity international in hong kong and to our financial correspondent daniel cope in frankfurt would like to start with you catherine because china's economy grew 6.2 percent in the 2nd quarter that would be great for economies such as germany or italy for sure but for china others a disappointment isn't it. i wouldn't say it's an actual disappointment and in fact
it was in line with consensus going into the actual trade number itself story the economic data itself what we do have to be mindful of is that we have seen a diesel aeration growth for more than a decade and this trend is likely to continue so we really are expecting growth between now and 2025 to really be in the vicinity of between 5 to 6 percent which really for reflects the framework of the economy that we now do see in china but nevertheless it is a kind of slowdown and would you say that it is mainly down to the trade war with the u.s. so are there other factors at play there are a number of factors at play so last year we did see sentiment really weak in both because of the trade related issues as well as because the liquidity environment was just way too tight so the cost of funding was too expensive companies were reinvesting the situation we find ourselves in right now they're in for the rest of the year is it corporates because of the ongoing trade tensions have very little
clarity or visibility and therefore again they are probably unlikely to react in terms of reinvesting or the cap ex cycle turning up because of these ongoing negotiations between the u.s. and china all right this uncertainty is certainly also something that is sort of a hovering over europe daniel bringing you in how is this chinese data going down with investors way you are in frankfurt. well traders monica get the frankfurt stock exchange we're not really surprised about the growth figures we have received this morning from china it was expected to win by investors that g.d.p. growth would be between around 6 and a half or 6 and a half percent investors seeing all of this not really as a warring i've been talking to quite some of them this morning and they are satisfied and that is more of the focus of investors this morning about the growth in the industrial production in china by 6.3 percent and also in the retellings sector by 9.8 percent all of this is making investors feel that most likely the
outlook for the 2nd half of 2019 is again more promising all right one more question for you kathleen because i found one heard that p.s.a. group the french carmaker group the deliveries in china 60 percent in the 1st half of the year so it is quite worrying you certainly for some foreign investors is beijing going to counter any of that certainly the slowdown. in terms of what the government's been doing they've been tweaking policy both monetary wise and fiscally speaking but in terms of what the focus should be for investors for the 3rd quarter 4th quarter it really is on the fiscal side of things so for the infrastructure investment not like we saw in 2008 but more targeted infrastructure investment and then really encouraging businesses to again reinvest in doing so by relaxing measures such as tax cuts except so really to aid sentiment versus overall just boosting growth all right care for the young there in hong kong and from the frankfurt stock exchange thank you to both of you.
well many south koreans a calling for a boycott of japanese goods dozens of small business owners rallied in seoul outside the japanese embassy today and thousands of others have signed petitions online and they all urged japanese prime minister shinzo abear to apologize for japan's export restrictions against south korea and to retract them immediately. don't wear japanese brands and don't buy japanese beer or cars. that's what dozens of south korean small business owners urged their fellow countrymen to do until tokyo withdraws its trade curbs. earlier this month japan impose restrictions on export of materials that south korean high tech companies like samsung need to produce t.v. and smartphone displays as well as semiconductors. and we
will continue our consumption and distribution boycott of japanese products until the japanese government and the r.b.a. administration make an apology and withdraw the export restrictions. the japanese trade curbs are seen here as retaliation for recent south korean court rulings ordering japanese companies to compensate aging karim victims of forced labor during world war 2 japan however believes it settled the issue of compensation decades ago in an agreement that normalize relations between the 2 countries the korean trade ministry said they'll make the trade curbs an issue at the upcoming summit of the world trade organization on july 23rd and south korea's prime minister called in japan to return to negotiation table observers say it won't be easy resolving the conflict between the 2 countries because it revised memories of past injustices. turkish president trichet type add to one says his country will make drastic cuts to its key interest rate the announcement came
a week off to add one fired his central bank chief over his handling of the economy ankara. central bank had hiked to the benchmark interest rate to 25 percent last year to help stabilize its currency the lira however the country is still in recession and faces double digit inflation something president at one says he hopes to change by the end of the year. construction is booming across the globe skyscrapers roads bridges you name it for the concrete you need plenty of sand but the right kind of sand to distance on for example is not suitable which is why qatar has to import $6000000000.00 worth of sand a year for its construction projects other countries in asia or in africa face similar challenges now paul it may have concrete could offer a solution. in the media a country with lots of sound and important raw material for making concrete but there's just one problem unlike most sand in germany for example the desert sand
has smooth round greens that makes it unsuitable for construction there are 2 of them his company polly care want to change that. the german firm produces so-called polymer concrete in which polyester resins and the chemical for the curing process are added to the desert sand no heating is necessary here the polymer concrete is being used to make bricks. the price is comparable to normal construction prices even though the new material is $5.00 times more expensive it's also much lighter because the bricks are hollow. they can be assembled easily to make houses including recesses for pipes enquiries have come in from all over the world it's pretty dumb things into there is lots of interest in china they're always interested in new technology and you don't especially important for them that we have low c o 2 emissions he goes on and we produce about a 10th of the c o 2 that the cement industry does and they consider it one of the
outstanding features of our technology i missed. my loans what it would be on now maybe a with all its desert sand is very interested in the technology as well some time ago polly care trained unskilled workers here to build a house from polymer concrete blocks in a very short time. that polly care has now built its 1st factory on the outskirts of the capital vento and employs 50 now maybe and is full time they don't just produce the building blocks they also build entire private houses mainly for private farms and lodges the government is also very interested talks are currently underway about orders for residential areas. back in germany the company has ambitious plans in a few years it wants to be doing business with its polymer concrete in 30 countries and their heart just continues to tinker to improve the formula the an i now calls
for longer when we see it as a challenge to become a little greener than we are today and yet still today we use a polyester resin consisting of 38 percent recycled p.g. bottles and we hope that one day we'll be able to work with a bio polymer and can i just hopes that in a few years time polymer concrete homes like this will also be available in germany directly. from d.i.y. stores with a price tag to match that of a midsize car. and that is your business update here on d w at this hour for more you can always go online at g.w. dot com business or follow us on twitter and on facebook for me the team member lead thanks for keeping us company.
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