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tv   Business - News  Deutsche Welle  January 21, 2021 7:15am-7:30am CET

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equalized at the one hour mark through striker matthew that's 5 goals in 3 games for the american but. restored the lead for cologne late in added time to one the final score. that's it for me coming up next all the business news with chris cover thanks for watching. it's about billions. it's a power hour. it's about the foundation of the new food order the new silk road. china wants to expand its influence with this trade network on soaking europe. china is promising its partners rich. but in
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europe there's a sharp morning whoever accept money from the new superpower will become dependent on it china's gateway to europe. starts feb 19th on d w. number $46.00 has taken the oath of office and now it's off to work u.s. president biden wants to provide from demick relief and fix the u.s. economy experts views on how that could go down also on the program germany gives farmers a high take to help them become a bargain to friendly but there is a technical hitch. i'm chris cuomo welcome to the program u.s. president joe biden's an auger ation set the tone for his economic policy for the
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coming months and years at the top of the agenda guiding america's way out of the coronavirus crisis a reporter a day of winter because as his opinion of biden's our hero address. if one word could summarize biden's speech it is unity with the new president highlighting the need to overcome the pandemic and economic devastation together with unity we can do great things important things we can right wrongs we can put people to work in good jobs we can teach our children in safe schools we can overcome the deadly virus we can reward reward work and rebuild the middle class and make health care secure for all and this is the state of the country he's inheriting president biden's address highlighted the shuttered businesses and job listener saying it's time to rise to the occasion. phaidon 1st speech as president painted
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a picture of america as a soon to be revitalized economic force but with america's economic recovery at stake this was no ordinary inauguration address the plans he's announced and the policies the new president puts in place in the coming few days will affect americans for generations to come. coal to biden's speech the devastation caused by the pandemic to lives and livelihoods as well as the lack of opportunity the struggle of ordinary americans to get by there was little in the way of policy and joe biden's address instead he focused on the challenges ahead many of my fellow americans view the future was fear trepidation. i understand they worry about their jobs. i understand like my dad their beds during the nights during the ceiling wondering can you keep my health care going to pay my mortgage. thinking about
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their families. about what comes next. i promise you i gather not once did he refer to his predecessor by name the new president is making a clean break with the past biden has to be more than the empty trump his democratic party has won effect of control over the full sweep of legislature and the executive the house the senate and the presidency biden has promised to deliver tangible economic benefits to ordinary americans and now the buck stops with him capping his speech was a rallying cry for getting the country back on track we will get through this together. now president biden's challenge is to foster that necessary unity in a deeply divided country a country desperate to rebuild. still more about president biden's economic agenda with cars and jet ski i n g chief economist and w.
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financial correspondent chelsea delay need both and frankford welcome to you chelsea let's start with you give us a quick market check up now that biden is the $46.00 president of the united states there's been a definite biden boom on markets we saw yesterday every major u.s. and x. the s. and p. at the dow the nasdaq all setting record highs but even before yesterday we've seen stocks really shoot up since the november election the dax here in frankfurt was up has been up almost 20 percent and a lot of this is due to the fact that biden is expected to really push through trillions of dollars worth of stimulus and with control of f congress that looks more likely now as well as the optimism around having a friendlier face in washington for european leaders and business says so markets are a big carson over do you buy the proposed a 1.9 trillion dollar economy stimulus plan what do you see as the most important
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item there. i think it is investment it is increasing u.s. troops and the interesting thing is that the this investment package really follows suit on what we saw in europe last year this is investment in infrastructure investment in sustainability invest it in the fight against climate change these are extremely important elements we should not only help the global economy works which we should also help push up u.s. growth in the next years now mr biden talked a lot about dri building the economy in his speech he also vald to repair and revitalize alliances around the world what do you make of that regarding transatlantic trade cars. i think we will clearly see a reliable transatlantic trade this will not be for free let's also be clear yet like you said it would be a friend be a face out of washington d.c. but i guess that biden will reach out to europe in order to win
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a year as an as an ally against china because this war on terror will continue with a friendly face but it will continue to which means reaching out for europe offering you your baby to participate in this investment plan in the u.s. but the prize that you would have to pay is $2.00 to choose sides which is a very tricky one premier we'll talk about some more about china in a 2nd here carson 1st chelsea back to you part of a president biden's economic recovery plan is handing out $1400.00 checks to households and i guess the backdrop of an already ballooning u.s. deficit is that a lot of worrying investors. i think for some of these direct payments have emerged as a potential concern. of really excessive government spending but i think for one you have to keep in mind how how many people in the u.s. are still really suffering 11000000 people still out of work many people facing
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eviction facing difficulties paying for food so there is a need to 'd sort of to have really quick money given to people as well there obviously is a big conversation around the u.s. its debt load right now the government debt is approaching 30 trillion dollars a really enormous amount but at the same time interest rates are still extremely low and we heard this from treasury secretary nominee janet yellen that right now with interest rates at historic lows the smartest thing we can do is act big so given that interest rates are very low that it's still quite cheap to service this debt the u.s. administration seems to be wanting to take advantage of that to really push through these big stimulus efforts that would help boost the economy now and also in the long term and of course back to you biden's team has voted a hard stance towards china trade frak this is will that be
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a problem for the recovery of the world economy. it could be a problem but not a real work i think right now and once we have the rolling out of the. one we've reached hurt me in the ass to summer globally then we will see an enormous ego and they speak of will be on the back of fiscal stimulus across the world so the. it's a trade war the tension between the u.s. and china will come back but they will not be imminent recovery we've got to this summer. and chelsea finally to you looking ahead what are the stumbling blocks that people on the market see one that comes to this presidency in the coming months i think one of the big issues that people are looking at here and there at the is that taxation thank you has really moved forward with it with plans to tax a lot of the big u.s.
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tech giants that has ired the u.s. administration and president biden as well so i think that could be a potential stumbling block and as well as as carson said whether the e.u. will really join and on these efforts to form a bigger bloc against china the e.u. is very dependent on china and has really voided head on confrontations with china so i think that will also be a key issue to be watching the delay me and causing jesse thanks to you both. time now for a look at some of the other business stories making news just hours into his presidency joe biden is holding a construction on the controversial keystone x.l. pipeline which is said to ship oil from canada to the united states and the u.s. state of nebraska he's president or donald trump had backed the project campaigners have been warning for years about the damage in consequences for the environment but your line kill em is a halting all 270 weekly long haul flights to the netherlands from friday after the
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government there announced new covert 900 new regulations and requirements for passengers and crew to show a 2nd negative rapid coronavirus test just before departure. disney entertainment and her empire as executive chairman bob iger saw his 2020 income slashed to disney is cutting bonuses and other payouts due to the pandemic mr iger earned $21000000.00 less than half of his earnings in 29 t. the german government is providing farmers was more than 800000000 euros and targeted subsidies to invest in new farm technology but the application process shows just how far behind europe's biggest economy is when it comes to getting things done on the. left is a family business in southern germany it makes agricultural machinery that's good for the environment to help farmers avoid herbicides it offers this device that
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destroys weeds mechanically it's just the sort of thing that government didn't perlin once farmers to buy so it offered them 810000000 euros in subsidies to help them but there was a catch they had to apply online. because of the rural internet connections in germany are so poor the system kept crashing right when only farmers were trying to access the site it was an extremely unpleasant experience for farmers. and in places with poor internet connections those farmers didn't stand a chance. this push for high tech revealed just how far germany's rural areas have fallen behind without basics like reliable broadband internet it's not clear how farmers can benefit from fertilizer spreaders and slurry tankers like
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these packed with digital and satellite technology this machine spreads fertilizer in a way that protects the groundwater you're in alice keeps 2000 pigs in western germany he says with low milk and meat prices the subsidies cannot come too soon he says the application process showed that farmers are ready and willing to invest in new technology. like this proves to me that the agricultural sector is ready to invest in technologies that have a positive effect on the environment and that farmers are also looking toward the future. but not everyone sees tech as the solution organic farmer says a better solution would be price supports for producers instead of subsidies he says the money should have gone directly into environmental protection. for example it's better promoting landscape elements such as hedges or creating habitats where
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insects and birds can breed and supporting manufacturers of agricultural machinery . that machine. the next round of subsidies will be awarded in march but it will be another online application raising fear that only the best connected farmers will see any of that money. that's our show thanks for watching ever self exists. or not too well oh. what about a sherman economy instead. of. the change in thinking is changing the economy to create something new. economics magazine meet me in germany. next.
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tuesday it is pulling those 1st girls who could have. been chewed out of us are 0 but they must search. in support of. what they did was able. to be a book on. the case for innovation couldn't be clearer up the world become a very different place and the pandemic is forcing companies to change the way they do business history shows for.

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