tv Business - News Deutsche Welle July 28, 2018 1:02am-1:15am CEST
second quarter u.s. economic growth comes in at over four percent trivium by consumer spending and high exports but the easiest to state a bill in the new era of trade conflicts also coming up should foreign powers be allowed to own critical infrastructure germany's government says no block the chinese takeover of a company controlling the electricity grid. about chinese investment can child's whole countries we have a special report from cambodia. this is your business update on how in a home free. thanks for joining me while the numbers are in the know good very good in fact over the last quarter the u.s. economy grew at its false just rate in four years that's positive news for the
world's largest economy but analysts say it's unlikely to be quite as positive as the white house makes it out. trump was quick to celebrate the new figures four point one percent growth from april to june. we're on track to hit the highest annual average growth rate for and even six percent of his world obama air regulations was supposed to unshackle the economy his one point five trillion dollars tax cut super charge the new growth but while economists expected a surge from the tax cut this quarter some even predicted five percent if you believe it is sustainable. for one the federal reserve concerned about inflation is expected to raise interest rates several more times this year. businesses also don't appear to be investing heavily there were also one off events this quarter soybean exports shot up over tariff concerns government spending rose in part to the defense budget. and there are worrying signs housing sales continue to decline
wage growth is still weak one thing is sure the u.s. economy is booming at the moment in the long term however question marks linger. let's go straight over to off financial correspondent yens quarter in new york hence charles then went on to say in that press conference off to it had it achieved an economic turnaround of historic proportions that's how he put it is that the case is this growth reflecting an overall trend of global recovery. we have seen some synchronize global growth in the past couple of months that certainly did not hurt but most of the growth that julie did come from u.s. consumers and then also the tax cuts at least for now certainly old saw pushed economic growth in the u.s. higher this growth story started in two thousand and nine so way before donald
trump became the president of the united states so he can put it all in his own shoulders but if we look that we are rather late in this growth story a growth rate of four point one percent in general is pretty impressive it is impressive that said the u.s. federal reserve at the still got its full year growth out where it is holding steady at two point eight percent so is that seemingly mature pace of growth envisages i mean is actually sustainable well i mean we certainly didn't see that this administration is giving all the has to push a growth higher but there is clearly also quite a risk involved in this well donald trump grew up in luxury and probably still lives in luxury and he might not have heard the term safe when the times are good so that you can spend when the times are bad so if the economy shifts to the lower
side the big question mark is what can be done to actually prevent the u.s. economy from falling into a deeper recession but the recession is not on the horizon yet the growth forecasts for the third quarter for the fourth quarter are still looking pretty good so most a couple economists say that maybe in a year from now so that's when really things called to haunt us back specially also the tax cuts we see a huge debt load here in the united states but nobody really wants to hear that at this moment all right yes close interests on a wall street thank you. whiteish as plunged nineteen percent in friday trading that off to the social networks that the number of monthly users was down by one million in the second quarter and it expects of a drop in the near future user numbers are declining as twitter intensifies at that suffice found fake accounts as well as hate speech online search privacy rose in europe have also made business harder twitter is the second major social media to
report a decline in uses off of facebook it came just a day off for the world's biggest social media media platform suffer the biggest ever one day loss in dollar value for a u.s. company germany's government is intervening in the sale of critical infrastructure to chinese investors german state bank a f w has agreed to take a twenty percent stake in high voltage energy network operator fifty hats fending off an offer from chinese state great now but said it has a strong interest in protecting critical energy infrastructure from foreign influence control over the distribution of electricity it's important for millions network operator fifty hertz provides transmission in large parts of north and eastern germany including the capital berlin that's one reason why the federal government deems a partial purchase of the utility by chinese investors problematic.
on one hand we're naturally pleased that investors invest in germany and purchase businesses from the coast on the other hand given how things have changed in the world we have to look at what business activity is what areas are focal points for national security. that's not it. because the investor in this case is a state run company trying to meanwhile shields its own market against competition from the west the german government has long pushed for equal rules for everyone. to sing to stations just as well and that's why it's right that we seek reciprocity disclosure that we work towards similar rules of the game internationally and this is where these big investment plans are increasingly playing an important role and it's about german firms securing equal access to chinese markets and them so that others are critical of the involvement of the german state bank and global view and who could we risk taking ourselves out of the driver's seat says don't believe
every investor with specific infrastructure in his portfolio will think well maybe a chinese firm she needs the federal government can spring in with the german state bank in this league with their pound of. government officials will debate the next case next week chinese investors are interested in a german technology firm well china is cementing is position as a global economic superpower quite literally the country invests in infrastructure projects around the world especially in africa and asia and in cambodia chinese investment has totally transformed the once tranquil resort of. south east asia correspondent best and heartache filed this report like every day is preparing his little camero western restaurant for dinner time. and like every day he knows that he's unlikely to sell out all the delicacies he's putting on display sales for composing and business owners like have slowed dramatically since the coastal town
of sihanoukville has been overwhelmed by chinese tourists. they like their own food and. they come here but most most of them they go to chinese restaurant while his last sixty to seventy percent of his revenue some of the chinese own restaurants down the street are pursing at the seams. the main attraction for chinese tourists in sihanoukville the casinos. gambling is a favorite pastime for many chinese but it's illegal in mainland china here however casinos are springing up like mushrooms. alongside luxury apartment blocks at prices ordinary composed ians could never afford. by any measure cambodia is a poor country but its economy is growing fast and largely that's due to the massive amount of chinese investment pouring in and much of that money goes into
construction projects like the one you can see here by the end of last year chinese construction contracts in cambodia were worth some seventeen billion dollars and that's almost as much as the country's g.d.p. itself. the influx of chinese money is a blessing for those who managed to land a job here they can earn two to three times as much as others. i know and he's rich now but at least i'm no longer poor. i used to not have any savings at all now i have some money at home maybe one or two thousand dollars things have definitely improved compared to when we were poor. we are about to. others have found work at one of the mostly chinese factories that have opened in the special economic zone close by what attracts investors here is the cheap labor but with demand for workers on the rise so are the wages i predict the next ten years. is about two hundred dollars two hundred thirty or two hundred fifty dollars
so the. this will be less compared to do in the world market so the problem can go to how to change their production start so government how to do very hard work but that because most people they leave the school. a grade six grade a grade so that the problem of how to improve the value added because the but activity is low cut for the moment the component economy is benefiting from china's investment push even if in seattle not everyone is happy about it thanks that's it for me and the business team from more find us on twitter and facebook and for you as a real time check on the global markets at this hour have a great weekend thanks for your company.
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