tv Business Deutsche Welle June 7, 2019 8:30am-8:45am CEST
discovery home. subscribe to the documentary on you tube. trade and terrorists set to dominate the g 20 finance leaders summit in japan and all eyes will be on the u.s. and china will the 2 cohen houses find a way to resolve their trade drought. also coming up b.m.w. opens its 1st planting mexico but the timing couldn't be worse it could find itself of course in the middle of a u.s. mexico trade spot. welcome to the business i want to get john's.
with us u.s. treasury secretary steven menuhin is scheduled to meet with people's bank of china governor. this weekend at the gathering of g 20 finance letus in japan it would be the 1st face to face discussion between key u.s. and chinese trade negotiators in nearly a month talks aimed at ending a festering trade war broke out in the may since then acrimony as rhetoric and trade threats between beijing and washington of only increased with u.s. president trump this week raising the stakes once war wherever donald trump makes an appearance there's always one key question what is the likely outcome of these trade wars especially with china on thursday the president threatens to more than double u.s. import tariffs on chinese products. our talks were a lot of interesting things to have but they were what happened in the meantime we're getting 25 percent for $250000000.00 and i could go up another at least
300000000000 dollars and i'll do that at the right time but i think you're i don't want to make you feel badly the chinese response wasn't long in coming. through or may the united states continues to willfully escalate tensions we will fight to the end. beijing says its commerce ministry is poised to take retaliatory measures if the united states decides to escalate the conflict tensions between the world's 2 largest economies have mounted since the last round of trade negotiations collapsed at the beginning of may and neither of the 2 appears willing to result the conflict quickly. of a war a job i couldn't from d.w. business and a financial market correspondent. standing by for us in frankfurt good morning to you comrade i would like to start with cliff because given the recent escalation between the u.s. and china is this g 25 summit this weekend is this going to
at least pave the way to resolve anything which you think well i think that's the hope certainly there's a shadow over the whole event because of the of the trade war i was reading in one analyst was saying that it could mean that growth this year would be 0.2 percent in the world which is the worst since the global financial crisis so there are indications that they you know this is the 1st face to face meeting since may the 10th so they were deafened to be hoping that they can come up with some groundwork that can later in the month then be used as the basis for more progress all right well clifford mentioning the impact on global trade certainly germany being one of the major export to nations the latest because you are released already we already read anything into them in relation to the u.s. china trade drought. yes we can monica the german export numbers look
significantly worse than what economists predicted the expectation had been a contraction of minus 0.9 percent for the month of april but german exports actually contracted by 3.7 percent now the german statistics office does not specify the numbers by country but the trade spat between the u.s. and china has had a very negative impact on business sentiment in many places of the world and well germany the export nation is really selling its goods to so many places in the world it gets to feel the punch everywhere interesting enough though that the u.s. economy doesn't seem to feel the pinch really i m f has just raced growth forecast for the u.s. economy for this year how come. you know monica at the beginning of the year when the i.m.f. made its 1st growth forecast for the united states everyone
a large majority of economists had predicted that the federal reserve would probably raise interest rates in the course of this year now that scenario has completely changed only this week their own power the fed chief said that higher interest rates is really not something to worry about at the moment in the u.s. and he. explicitly mentioned the ongoing trade negotiations and the trade implications all right at the same time cliff we see a very interesting development the chinese president xi jinping is calling russian president vladimir putin his best friend and we certainly see the kind of typical pound diplomacy going on there is there a new ally ins a growing against the u.s. well i think china and russia have had a complicated and long relationship. but very possibly china is now looking around for friends i think in economic terms it's maybe not as significant given up i think the russian economy is around the same size isn't it but but certainly in
political terms it's a very strong alliance and he will feel that it gives them extra leverage with a lot of the of the non allies of the u.s. when going forward in discussions about how to resolve the trade war just briefly because the u.s. president to trump is expected to meet his chinese counterpart also at the g. 20 summit at the end of the month when the latest blatantly does a coming together there he said he would decide whether he will raise 300000000000 euros tariffs on chinese goods then likely outcome well we'll see what happens this weekend if they if they do get the ground work. it's so unpredictable you know we had mexican tariffs on mexico last week which no one would have called certainly with the pace at which they happened so i think it could very well. and he does like to be seen very publicly to resolve problems the trade war of course would be a very big story if he was able to resolve that so maybe that will be everything is
possible clifford there from business and. in frankfurt thank you so much to both of you. and i'll just some of the other business stories making the news. top democrats in the u.s. senate have asked the federal reserve to scrutinize deutsche bank over allegedly suspicious transactions tie to president's donors trump dodge it was one of the few lenders to keep trump afloat after his repeated bankruptcies in the 1990 s. . the united arab emirates has told the u.n. security council that attacks on 4 tankers off its coast last month were likely carried out by another state it said annex animation showed trained diverse had planted a special mines to cripple but not to sink the ships the united states accuses iran of the attacks. been w. has opened its 1st factory in mexico but it couldn't have come at
a worse time washington's threat of terrorism mexican exports still hangs in the air the german carmaker says it's full speed ahead for its expansion plans in the country. b.m.w. has m. bishop's plans to turn out 175000 cars annually from its new mexican plant beginning in 2028 at least that was the intention before us president donald trump threatened mexico with punitive tariffs despite the celebrations his threat loomed over the sun luis potosi factories inauguration the terrorists would hit mexico's automobile sector worst of all there are fears they could lead to a sharp decline in car sales last year b.m.w. was able to increase its sales by 18 percent but this year the german car maker expects sales growth to come in at a more modest 5 percent so. we will see. for our production is flexible but this point in time who would not see any reason to
change. the new facility will be b.m.w.'s most modern and most flexible it will make the 7th generation of the 3 series it will create 2 and a half 1000 jobs here and hundreds of other companies are expected to be drawn to the region as things develop the entire region stands to profit from the investment . in the entire automotive supply industry moves in here will all stand to gain in cent always put to sea we have an export volume of $15000000000.00 a year and we wanted to increase by one and a half to $2000000000.00 a year with b.m.w. that agreement that it will seem to me to be young as it already is wages in the region are generally lower than those paid by nissan invokes wagon business information network bloomberg says the starting rate for an assembly line worker here is a dollar and 10 cents an hour that's roughly what other mexican manufacturers pay but it's also only 110th of what their colleagues in the united states earn the
wage rates were agreed with workers unions as long ago as 2014. i don't see that almost as when you sign the collective bargaining agreement which mainly serves employers' interests with little attention paid to workers' needs these are the rates you get and when production gets going they have no chance of demanding anything more. than. those kind of agreements are illegal in countries like germany and the us in mexico they've meant that working conditions and wages remain at low levels. women in high heels that's what you usually see at fashion shows at gallup even eggs but let's face it only seldom high heels comfortable let alone practical but in japan they're a must for working women however an online campaign seeks to change that. every day millions of japanese women trudge to work in high heels wear them all through
the day and then walk home and them again. their essential accessories in japanese work culture doesn't affliction for many. of us. my feet start her singing and it's painful to keep standing in heels sometimes my back even starts are hers those are some of the downsides. you could do to me i don't feel free and relaxed until after i get home and take off my high heels they hurt my feet. actor and author you me she wants to change the us under the harsh tuku to a play on the japanese words for shoot to and paying sue she started a petition against high heels at work more than 20000 women have already signed as well as some men last week female activists had the petition into the labor ministry. there's a bit of doom about that many people need to realize that fundamentally it's about
sexual discrimination and those that we need to be angry about this hospital but we've been told to live with it for many years. i think it's very important for us to be aware that we're not treated fairly and we have to be angry about it. but that hasn't stopped health and labor minister takumi nimmo too from describing high heeled shoes as quote necessary and appropriate in the workplace. and i can relate to that that's a business for me in the team of berlin thanks for watching.
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