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tv   Business  Deutsche Welle  July 15, 2019 11:15pm-11:31pm CEST

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that was what was well in decades is the trade war with the us to blame for that and more in business with stephen beardsley in just about one minute stick around for that. he creates a sex phone operator who wrote her master's thesis on the potato for her to treat. not a turn on well it gets more ridiculous from a i. list retirement straight. her 1st day of school in the jungle. ready first claiming listen to.
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doris crane the moment arrives. join during a taping on her journey back to freedom. in our interactive documentary. tour on trying to tame returns home on d w dot com arena tang's. china reports its slowest economic growth in decades so the trade dispute with the us to blame for a slower growth simply china's new normal example latest from beijing. also on the show the e.u. takes action against turkey for its gas drilling off the coast of cyprus will tell you what it means and how ankara has responded. and farmers in argentina could benefit from south america's new trade deal with the e.u. what about other sectors well it depends on the u.s.
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. this is your business report i'm stephen beers in berlin thanks for joining us the chinese economy continues to cool new quarterly results showing the slowest growth in 27 years so does that mean china is on the ropes in its trade war with the u.s. well not so fast domestic demand is up and state support appears to be kicking in but china does have its work cut out for it. 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 power has 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 followed by many standards but for china the worst performance since the early 1990 s. the government's been keen to offer reassurance but doesn't deny there are problems
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from. so munyon 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 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 to for years chinese companies have taken advantage of largely unregulated lending leading to warnings of an impending debt crisis add
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to that 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. and let's go now to our financial correspondent in new york. yes wall street hasn't really reacted to these numbers so tell us what is driving investors this week. well it's basically for a couple of days now the outlook or 100 percent certainty that the federal reserve cut interest rates by the end of the month that does feel a bit one dimensional and let's say the fed is going to do to lower the rates at the next meeting on july 31st that is already priced in into the markets are up some point we need a bit more to get markets going but here at the beginning of the week we said
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a new record for the dow jones industrial average for the s. and p. $500.00 and also start composite. and focus into one company boeing shares falling today after news reports regarding its 737 backs and working tell us there well i mean wall street in general is just asking itself why would you invest into boeing at this point was all the uncertainty there was a report in the wall street journal that maybe the 737 makes a plane so won't even take off at all within this calendar year we also got word from american airlines besides. the biggest the 2nd biggest operator of those marks 8 planes for the 5th time already they delayed when they estimate that the planes might be taking off again at this point they are looking at. but as i
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said so much uncertainty is not clear when the software fixes will be done the pilot training will be done the f.a.a. will finally give the green light to the stock basically is in steady decline since march and since then has lost a good 20 percent in value so more bad news there for boeing quarter for us there in new york thank you. now staying in the us facebook says it will not launch its digital currency libra until it receives regulatory approval a senior executive at the social network plans to testify to u.s. lawmakers that the firm has no intention of directly competing with global currencies financial leaders around the world have expressed skepticism about facebook's plans among them u.s. treasury treasury secretary steve minutiae one monday said his department had quote serious concerns that libor could be used for money laundering. even member states have agreed to impose penalties against turkey over its gas drilling off the
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coast of cyprus the european union doesn't recognize the turkish claim to the north of the island but ankara insists that its actions are in line with international law. he was the dispatching of this drill ship to what cyprus considers its exclusive waters to the cypriot government to raise the alarm with the e.u. last week. another ship soon followed. on monday e.u. finance ministers meeting in brussels discussed what to do about it. do you. the provocations of turkey are an acceptable to us all and we stand with the cypriots this is going to it's very clear that we stand behind cyprus this makes sense since we never recognize the turkish occupation of northern cyprus it's normal for cyprus to want to define its own natural resources or to dignitas with. during their meeting the ministers agree to impose punitive measures on turkey thing clear the suspension of negotiations over an aviation deal the cancellation is senior
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political meetings and the reduction of funds earmarked for turkey as a prospective e.u. member experts estimate the seabed off cyprus holds more than 200000000000 cubic meters of natural gas deposits turkey insists its exploration of the area is legal the foreign ministry has also warned the tenney action by the e.u. is doomed to backfire. over a lot america argentina's beef exporters should get a boost what about its manufacturers this story a trade deal between the e.u. and south american countries which includes brazil paraguay and europe way as open questions about who stands to benefit from free trade and who could suffer. if water lawler and his family run a cattle farm in the town of sui pacho 130 kilometers west of pointer siders they count more than 2000 cattle most believe it is exported but they also sell soybeans corn and wheat and the family isn't using asked about the trade agreement between
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the european union and america and hope it will boost their sales. people will be able to get to know argentine beef i think it ranks among the best in the world it's really excellent and world famous in terms of meat our output is already at capacity the same with wheat the. challenge now is to industrialize the entire thing. the deal will see the e.u. drop tariffs on 82 percent of agricultural imports sensitive products like meat sugar and ethanol will see lower tariffs but only at specific quotas in exchange the south american block will remove duties on 90 percent of industrial goods from the e.u. albeit at a slower pace but that hasn't gone down well in all quarters unlike europe why in paraguay both argentina and brazil have well established manufacturing industries like the car parts company l. he make roberto people who founded it in buenos aires 50 years ago it makes hinges
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for folks wagon trucks and while he supports the lifting of trade barriers with the e.u. he does have some misgivings he says you. we need to look very carefully at the impact it will have on national laws on the tax system and on investment in the country. we should see how we can get the technology necessary to compete effectively. patrick is a former trade official who now works as a consultant and professor he welcomes the trade agreement but believes the benefits are not equally weighted and that the e.u. stands to profit disproportionately. in my opinion has made more concessions than the european union has and that applies to goods and services government contracts investments and intellectual
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property. and complete analysis will only be possible when we have the details. while opinion on the ground is mixed argentina's government has high hopes that the deal will spur job creation and development for years to come. and let's go back to europe where amazon employs that 7 of the company's german locations went on strike on monday demanding higher wages the strike was scheduled to coincide with amazon's so-called prime day that's a 2 day discount event on retail giants german workers earn a minimum of 10 euros and $0.78 per hour for the labor union verity says amazon is only able to offer discounts to customers because it doesn't pay its workers fairly . and that's it for me in the business team going to course find out more about these and other stories at d.f.w.
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dot com slash business or on social media which would or facebook i'm seeing bears in berlin thanks for watching.
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as an astronaut to be took part in the greatest adventure in history. armstrong was his destiny starts july 20th on d w 5. everything. this is new news africa coming up in the next 15 minutes zuma has his say south africa's former president appears before a corruption inquiry probing allegations off during his tenure but jacob zuma says he's been vilified and is the victim off a character assassination the campaign by enemies seeking his downfall. and on firms the 1st case of the bony in the urban city of. tell you why the world health organization say bet a game changer.

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