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tv   Business  Deutsche Welle  June 5, 2019 8:30am-8:46am CEST

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science when it comes to the fans of the humans on sr why the foals who have decided to put their trust in us me my name is jenny harrison i work a d.w.i. . in. them . look today be the day europe says it's had an awful italian deficit the e.u. is set to pull on whether it's in this budget violates it's rolls and it's not expected to go easy on the road. also coming up as the 2 countries the trade dispute goes on china wants its students against traveling to the united states. to come to the business i want to get jones good to have you with us. so is italy in
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breach of european budget rules while that's the question european regulators are expected to and so with yes later today the move could result in the e.u. imposing financial sanctions on the country of the dispute centers on italy's mounting public debt and present a sum the government owes is worth 132 percent of the country's total economic output and that figure is expected to rise to 135 percent next year and that is a thorn in the side of the e.u. under its rules member states can only hold the dead of up to 60 percent of g.d.p. quite a gap a showdown with the e.u. which put further pressure on italy's fragile coalition government which is already under pressure to deliver on expensive election promises well from what i'm joined now by joseph in mckenna she's a freelance journalist based in rome good to have you with us and good morning to you know italy of course only narrowly avoided financial sanctions already late
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last year will there be a 2nd chance. well there's every indication that the european union is running out of patience with usually the financial minister the finance minister of b.c. several times has indicated enough is enough and there was a letter from the european commission to italy last week or so warning italy that time was running out. and one of the italian newspapers republika this morning is citing excerpts from what it says is the leaked report from the e.u. suggesting that these sanctions will go ahead unless usually is prepared to introduce some kind of mini budget and pare back around 4000000000 euros of excess spending particular concern about pensions and the introduction of the guaranteed income for the poor which was a whole mark of the 5 star movement that has been introduced by this coalition
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government which is contributing to a blow out in this budget and continuing spending by the italian government of course we also hear that the coalition government in particular the deputy prime minister. of the far right league north is also keen on reducing debt but would rather see the e.u. to relax fiscal rules how likely is that. well that seems very unlikely because the european union feels very strongly about one rule for all and if they sanctions go ahead it will require the endorsement of other european a human because and many of these other countries are a little bit tired of easily running its own rice and not sticking to the rules on the other side of that is a very feisty deputy prime minister sylvania and the head of the 5 star movement only to demolish the other deputy prime minister running political campaigns
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effectively against the we know that they have been very anti. in terms of any interference in the italian budget and they're going to get some political mileage out of this particular because there are local elections coming up initially this weekend matel salvini has said many times he doesn't want the you pushing him or easily around and he want use this i think as a showdown as a political showdown to advance his own fortunes at a time when the government is the to kuli unstable as you said just even mckenna their freelance journalist in rome on the possible decision of the european commission on italian budget thank you so much thank you. the world bank has slashed its global growth forecasts for this year the latest global economic prospects report shows the world economy is expected to expand by 2.6 percent this year that's down from its january forecast the report sounded the
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alarm over u.s. trade wars tumbling confidence and increasingly skittish investments the bank says even for a modest recovery a lot to go have to go right instead the growing risk suggests the outlook could yet turn even daca. and speaking of a dim outlook could this be the latest move in the u.s. china trade war beijing has issued a travel warning for the united states saying chinese citizens should quote phony assess the risks of traveling to the u.s. given recent shootings and the warning comes astray tensions between the world's 2 biggest economies rives on monday beijing warned chinese students of risks associated with studying in the u.s. now it's talking of chinese citizens being harassed by u.s. immigration officers while entering the country china's foreign ministry also accuses the u.s. of waging economic war against china to prevent its rise to power it says
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washington has constantly changed demands and made reckless allegations over the weekend beijing signaled a willingness to negotiate but stressed a did not fear a trade war with the u.s. it was a complete twisting and fabrication of the truth for the u.s. to accuse china of going back on its straight talk commitments both sides of pummeled each other with hundreds of billions of dollars in punitive tariffs the u.s. has also blacklisted china's telecoms champion hallway beijing responded by announcing its own intention to make a list of foreign companies which it considers quote unreliable it also threaten to limit access to its rare earth exports china is the world's largest exporter of the minerals essential for making smart phones t.v.'s and other high tech products. of a more let's cross over to our studio in taipei to suit soon hunger to have you with us now so it has been more than
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a year since the trade war started do we know who is the winner just yet. well monica if you ask me also in north china or the us is the winner but there are several beneficiaries in this trade war among them vietnam was rewarded the most according to a reasoned analysis vietnam's economy was boosted by almost 8 percent due to the shift in production and the trade diversion also benefited other countries like taiwan south korea malaysia and in argentina however let me take taiwan where i am for example even though taiwan is picking up the trade diversion from china taiwan's export shrank by 3.3 percent in april from a year earlier so taiwan is suffering from roar demand in china so we know from different aspects there are no obvious winners. but it certainly looks like this trade spats is is not going to end anytime soon. what is china's
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next weapon here what we know in china has warned of limiting rare earth exports dropped in blacklist for u.s. companies that even talked about possible threats to apple and test law and just before yesterday china issued warnings of usa study app to more and more chinese students visa were rejected and you just mentioned the china issue travel warning of the us so by these all this short term plans for china the man's journey g. is to push for homegrown innovation to grasp the cord technologies in this long lasting trade battle is an urgent call for china now so china certainly tries to be also less dependent on others we also heard yesterday that stockpiling soybeans obviously expecting a prolonged trade spat with the us how long do you think it will take for china to reach that goal of self-reliance. for monica we really don't
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know because chinese technology industry is highly dependent on global component suppliers especially from the u.s. but china has made remarkable progress made remarkable progress in some technology application area like e-commerce payment and artificial intelligence but little progress has been made in core technologies such as those in making car engines chips and computer operating systems so it's very important that china has to speed up to specialize in upper echelons not this value chain ride suit so my hand they're reporting for us from a studio in taipei thank you so much. the trumpet ministration has ended the most popular forms of u.s. travel to cuba its band cruise ships a heavily used category of educational travel in an attempt to consul cash to the
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island's communist government cruise travel from the u.s. to cuba began in may 26th seen during president obama's opening with the island since then the number of u.s. citizens making their way to the capital hop on a grew to cuba visit is generated urgently needed revenue the island is in the midst of a severe economic crisis. and some of you may remember the time before video streaming back when watching a movie at home in both a visit to the local video store to see what was available on v h s in the 99 is no store was bigger than blockbuster at its peak it had over 9000 stores across the world today it has just won. with the closing of a blockbuster store in australia this franchise in bend oregon is the sole survivor of what was once a multinational from sars. you were the last through. no i have no is that really
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are you serious that's awesome let me know that you know it's time to harding is the general manager of the still she started working here back in 2004 i thought time the same had 5 stores in bundanoon. i grew up going to the video store all the time and then over the years video stores have always been a part of my life and my husband actually worked at a blockbuster store we were 1st married and that was kind of an experience for us and then i worked here and all of our kids over here but yeah blockbuster's been a part of my family for years. one of the main reasons this video still still flourishes and even the trucks tourists from all over the country tells you. i've always been a fan of blockbusters and renting it was like a childhood thing for me and since i'm trying to cross the country like of all the stuff that i wanted to do this is the one that was on my radar the most because i haven't been in a video store like it over 16 years now. but nostalgia alone isn't what's keeping the store in business it's the loyal customer base that it's stuff i cultivated
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over the years. it is a product i'm part of the community. if the story ever does close and i'm sure you know everything will come to an end at some point i will be very sad i think it will be the loss of. something really special and i think a lot of people will mourn the loss of blockbuster as much as i will. with algorithms taking over the film industry social meeting places like the one in bend facing extinction. gone by. and still be a news thanks for watching us.
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needs to know the sex phone operator who worked her masters thesis on the potato. not to turn on well it's more words it was from a. list. and. i'm not laughing at the gym i just sometimes i am but most end up with. the german
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thinks deep into the german culture looking at the stereotype quests but if you're thinking. you don't think that i don't. think it is grammar they are to me it's all that a new i'm rachel joins me from the protests from d.w. post. hello and welcome to the world of arts and culture boring is the new exciting that's according to a conference in london which looks at the trial the tedious and the tiresome in a new light also coming up. vintage cars going all week crunching the curves with 2 professional drivers said to be the world's most beautiful car race. and from repeating the wheel. to gripping literature the collector of worlds
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a must read novel about the real life adventure of richard francis. and even transfers because of money as a box we begin with a visit to the fascinating world of the monday night in the humdrum the drab and the dull the annual boring conference that took place in the british capital recently my colleague adrian cameron kennedy was there and discovered subjects that normally might appear trivial and tedious can be given a new lease of life it will be here to explain how drudgery can get you excited in a couple of minutes but 1st let's get boring. conway hole is a famous home of radical free thinkers in the heart of the mystery the pouring conference is taking place here for the 9th time. founder james ward is master of ceremonies and a veritable titan of tedium. and my name is james.


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