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tv   Business - News  Deutsche Welle  January 17, 2022 3:45pm-4:01pm CET

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china's big pandemic bounce back stores. the latest figures show the chinese economies growth slope dramatically during the course of 2020. while we'll look into why african swine fever continues to wreak havoc in europe and asia will look at the impact is having for shoppers in thailand. and taking the wind out of the sales of big energy. here how sammy heard it have defeated one of norway's biggest renewable project. this is due to be a business. i'm robots in berlin. welcome to the program. rising commodity prices, supply bottlenecks and power outages are slowing down china's economy. the latest g d. p figures show a nation whose pandemic bounce back has been put on hold. just take a look at the courtly figures for 2021 in q one. china recorded a massive 18.3 percent g d p growth. but as the year went on, as you can see here, that short saw
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a dramatic drop off and ending with the latest figures that we've just had. and that's 4 percent growth for q 4 in g d p for china. so what happened? well let's find out more from our resident, china watcher. clifford kuhn and he joins me on the program. clifford just explained to us, what did happen during the course of 2021 to d rail, the recovery in china? well, rob, to start off, maybe we should look at, you know, there are positives here that we've seen car production group for the 1st time since april. we're seeing that industrial production grew strongly and to a certain extent helped to offset as a drop in retail sales. and they're also higher than that. the figures are higher than i had been expecting. but then again, looking towards the end of the year, we can really see that that there are a lot of challenges facing the economy. the primary one is of course, alma crohn. nobody knows what china 0 cove it policy is going to mean for how it
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deals with alma chrome because it's shown itself to be so infectious and we're seeing lot of cases there. so that's really giving people lot of headaches. and then also we have the real estate issue which hasn't gone away. it's worth $55.00 trillion dollars, which is 4 times total gdp in china. so there's a lot of these headwinds that the economy is facing in to now. now we've just seen the shape of things in 2021 for china, but we're in 2022 now. and all these downward pressures continuing. definitely, i mean, i think goldman sachs investment bank is just it's, it's, i look for this year because of all mach wrong. and because john is your coven policy. so that's going to be a big factor. as we've mentioned, you know, we're going to see these issues with them, with the supply chains. car production is rising again, but there's no chips to put in the cars. then there's going to be a lot of problems there. we have um, we got the big political meeting this year later this year,
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which is going to cement. she, jim, she jim, things great on power and probably give him an extra few years in power. and also we got the winter olympics coming up. so there's going to be a certain, a lot of effort to contain any massive economic followers. while those 2 things are going on or with those 2 things on the horizon. but there's really a lot of headwinds this year, which are, are going to put a lot of dollars on growth and another challenge for the future as well as we just had birth rate figures for china last year. they were down 12 percent. actually going to have an impact on their economy and the has come yeah, it's a big drop and it means that basically there were, there were only slightly more. there were very, the number of people who is born is only slightly greater than the number of people who died, which is in a in, which is obviously a big challenge. the challenge here is always to get rich before you get old, could you get with fast growing economies and or is china looks like it's getting
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old before it gets rich. so that's certainly a challenge. ok, clifford can, and i, resident china, watch a thanks for bringing as of today. now, staying with china and last april, the country became the 1st country to pilot a central bank issued digital currency. the e one, it has the stated goal of replacing cash, but so far it's rollout has been tightly controlled. however, as far beyond credit reports from beijing for us, recent developments could see a big pick up and it's adoption. ah, it beijing's up market one switching shopping district. there's no shortage of places where you can spend the so called e one by november of last year. around 140000000 chinese citizens had already set up accounts. and yet it's hard to find many people who actually use it. oh, sure to go home if there is a broader rollout than i'll definitely use it because the government and the nation supports the digital un last week. the people, it's bank of china or p b o. c took
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a big step towards its widespread adoption by launching a trial version of the digital you annette. for now, it's only available in 10 designated cities, including beijing, shanghai, and children being the 1st step up means china still has to take a controlled approach. they want to make sure our rory, our a digital currency doesn't mess with. are there the soonest, the better the, or the financial system? right. i think that's the 1st thing in which alpha one potential barrier for the e one had been common use of existing and a tronic payment systems. we chet run by 10 cent holdings and aunt groups. ali pe, hold in 90 percent share of the mobile payment market between them. but recently which had followed an early pace footsteps by making it compatible with e. one. the move by tense and to make its hybrid messaging and more by payment at
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which it compatible with the digital you on could be a significant step in its adoption, which had already boasts more than 1000000000 uses worldwide, and is widely used across china. the developments appear to be part of a broader push to attract, uses the head of china spring festival, as well as the winter olympic games. the p, b o. c. set that foreign visitors coming for the winter games would be able to use a digital. you are at olympic when use, even without a chinese bank account. it will be the 1st chance the outside world has to get a glimpse of the virtual currency. for now, china says the digital currency is intended for retail payments in its domestic economy. but it could help curve the dominance of the global dollar settlement system. although some financial experts argue it could still be a long way off, simply because that's gonna be driven by the availability of securities in the international market. and the relative attractiveness of those securities versus
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other alternatives. but certainly for companies that are conducting international trade with chinese companies, it does provide potentially the ability to conduct transactions on a lower cost basis. it also potentially paved the way for china to circumvent sanctions imposed by the united states. and so the quickening of its role out now could have significant, long term geopolitical implications. now let's take a look at some of the other global business stories making the news, credit suisse chairman antonio hort. azaria has resigned. after flouting coven 19 quarantine roars with leisure trips to wimbledon and switzerland. last year, he leaves his post less than a year after being hired to help the bank recover from a string of scandals rebuild his reputation at the wealth of the world 10 richest men has doubled since the pandemic began according to a report from oxfam charities as a 160000000 people of meanwhile been pushed into poverty. it's calling for curbs on
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extreme well fire. progressive taxation and other measures arrivals at frankfurt. apple rose 32 percent last year, nearly 25000000 people passed through the hub in 2021. but for port c o says that volumes are still down compared to prevent them levels. the story is different. the cargo traffic, though, which is tripled over the past year. african swine fever is taking a devastating toll on pick stocks across europe and asia. farmers having to coal animals in the thousands and near restrictions on exports being imposed in a desperate attempt to quell the spread. nevertheless, thailand is among the latest countries to confirm that swine fever has reached its shores. the pork traders at this market in bangkok have hardly anything to do. prices have risen by a 3rd within a year that scares off the customers and the home no more pork. after
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today, i'll stick to fish and eggs. i can't afford the prices. millions of pigs have been killed in recent years, mainly in china and vietnam. the crisis has affected the entire region. just last week, thailand has acknowledged its 1st cases. on the many small pig farms have gone out of business. now we only have the big farms with more than $10000.00 pigs left. there will be a 3rd fewer pigs than usual being raised authorities estimate. and the export of peaks is banned until april. now for the sammy people of northern europe hurting and fishing if in a way of life at generations, the modern developments often put that key aspect of their culture risk. that's why representatives of the handful of hurting families who remain
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a been taking on one of noise. biggest energy projects. if john christian jama, had his way, reindeer would be raining supreme here. it used to be one of the best winter grazing spots around. but now there's no reindeer in sight. the animals are too scared to graze on the spot and jama says the area around it has also been developed to support the wind farm openings grocer, vejo, charging audio route. there's a lot of noise from the turbines parking spaces, roads, intersections, or the nature here is completely destroyed. only gray stones and rocks are left to the norwegian. government is the main shareholder in the much criticized 1000000000 euro project. but more than 20 percent of norway's wind energy and 2020 came from
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these 151 wind turbines, according to fossil vend. despite the cost and the benefits to the energy grid, the supreme court unanimously declared the projects operating permit and land acquisition invalid saying their construction violates the sammy family's ability to practice their culture. but they didn't say what should happen to the turbines. now he said, don't we take the supreme court decision very seriously? the next step is to agree on terms of the reindeer herders for us to be able to use these windmills. so they don't buford of adulthood. but the sammy families involved to say they won't accept any compromise they want. the turbines taken down and the land at least partially restored. you know, every other case that you heard about that it's something is to leave all you need to tear it down. if it's a house, if it's a cabin, if it's, you know, am, and i can't see that. oh, because it costs a lot of money and we spend many years building it and it's still
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a legal and you need to take it on. so, i dunno mean it's not up to us to compromise. lisa is to lock all these sammy families. hope that this decision will force big companies like thoughts and vend to reign in future encroachments on to their ancestral homelands. just type a reminder, the top business story we following for you this, our chinese economy grew at a rate of just 8 percent last year. bounding back from the initial pandemic dropped . but after an especially strong up taking in the 1st quarter, growth slowed down to just 4 percent. so from maine, the business team here in berlin for more from us, check out our website data we dot com slash business. you can also catch up on the d to when use youtube channel. i don't facebook to next time. ah,
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with a now. now it's a tough sounds like you can take their toll. german robotics researchers are developing new systems to release stream on the body. neck, shoulders back. how did the exoskeleton fair when tested? to borrow today. in 30 minutes, to w. o.
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