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tv   Business - News  Deutsche Welle  April 9, 2021 8:15am-8:31am CEST

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as of gun violence in the united states despite the stock growing number of deaths president biden faces an uphill battle to implement significant gun control laws. you're watching the news coming up next my colleague chris culliver will be here when he looks at joe biden's spending plans on terry martin thanks for watching. more than a 1000 years ago europe witnesses a huge construction boom. christianity firmly established itself. both religious and secular leaders or eager to display their power. to trace speaking. and create the tallest biggest and most beautiful structure. stone masons
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builders could text compete with each other. this is how massive churches are created. a contest of the fields. on t.w. . spending big or not big enough that's the question while the united states is lining up almost 2 trillion dollars in investments we take a look at whether europe's so take it substantially smaller recovery plan can also do the trick also coming up 9 months after the devastating blast of lebanon's main seaport reconstruction plans are to be announced later today and we'll show you why you might have to wait for your new car just a bit longer because of a drought in taiwan. china is pulling
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ahead of the u.s. is following and where is europe in the current crisis critics of the e.u. fun for them. recovery say it may be too small to make any real difference and are calling for a biden style recovery stimulus economic recovery fund also known as next generation e.u. adds up to some 750000000000 euros the equivalent of $900000000000.00 the us on the other hand has approved $1.00 trillion dollars in pandemic financial relief e.c.b. executive board member is about novels said what matters now is spending the money as fast as possible. don spring forward joins me now he is the deputy director of the center for european reform a liberal think tank in the u.k.
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joins me on the phone from bristol come to d.w. john you're one of the advocates of the e.u. spending big why is the 750000000000 euro recovery from not big enough. good morning well there are a couple of reasons maybe the 1st is about timing so as you said in your segments 750000000000 is consulates more than 1.9 trillion which is already being inactive by congress and it's worth pointing out that there's going to be another 2 trillion bill which is going to be put before congress for infrastructure over the next few years and so intensely just the size of a big used plan together in the recovery fund is consulates quite a lot smaller there's a 2nd reason is that the spending is going to come or mowing down the track is really going to starts next year there will be some spending that is disbursed from the recovery from this year but most of it will be next year in terms moving
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forward and what's really needed is stimulus as vaccines work and as we're allowed out of our house ways to encourage spending to pick up as rapidly as possible and close that gap soon with use built up since the pandemic started so donna how much is the e.u. supposed to spend and where is the money supposed to come from. well i don't think it necessarily has to be the e.u. collectively is the 1st point and member states. spends and borrow on their own accounts and none of them really having any trouble from the debt markets interest rates are very low which usually a signal that markets want governments to spend and if there is lots and lots of investors chasing votes and lots of government bonds then that means that they really wants governments to start turning on the spending caps so in terms of there
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being any risks that governments won't be able to do that and won't be able to borrow and spend i think we can be pretty confident that things will be ok and if things do start to go wrong and investors start to bonds and demand higher interest rates and then it's likely to be localized within a few countries and you know a country like germany or the netherlands or france they have no problem borrowing more and spending more to try and close that gap that has built up since the beginning of the kind i mean john we're not just talking about recovering from the virus pandemic here but also catching up with the united states and china post pandemic where does your of stand to gain the most. well the big problem is that the e.u. as it stands as the i.m.f. and the o.e.c.d. of forecasting is not going to recover its pre-planned demick level of output until needs 2022 perhaps so maybe later where is they forecast that the us is going to
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reach that level of output by the end of the year thanks to the spending patterns that bargain is present place in china china is also going to be a bit slower to reach its preponderate level but. the problem really is that the e.u. seems to see some permanent scarring effects because unemployment is high and people get discouraged inns unemployment remains high for quite a long time and then that means that you know you've got you've got a really big problem on your hands trying to get people back to work the longer that they're awesome. so that that's that's why my suggestion is that let's try and emulate something like the biden plan to get people back into their jobs as christ possible don't spring for deputy director of the center for european reform thank you. thank you for now to some of the other global business stories making news the biden administration has added 7 chinese supercomputer research labs and
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manufacturers through a use export blacklist the latest escalation of beijing over technology and security training support for computers are assembled from american processor chips and other hardware and can be used in weapons development according to the white house new claims for unemployment benefits in the united states rose to 744000 last week exceeding economists expectations was the 2nd straight increase analysts still expect the labor markets to make a recovery this year as vaccinations tame the current of ours outbreak and government stimulus helps the economy gain momentum 26000000 jobs have been lost in latin america and to curb in due to the coronavirus pandemic that's according to the international labor organisation the ilo warns that ambition ambitious actions are needed for the regional labor markets to recover this. it is to lebanon now and the devastating blast that shocked the nation's capital and much of the
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world 9 months ago $200.00 people died and thousands were injured after a warehouse storing highly combustible chemicals exploded at lebanon's main seaport today plans to reconstruct the area are to be in the. waves from the blast at beirut's point flock notch parts of the lebanese capital leaving a quarter of a 1000000 people homeless. the disaster was one of the largest non-nuclear explosions in history that sunk the country into its worst economic and political crisis since the end of its 15 year civil war in 1990. estimates put the economic damage done to beirut at around $15000000000.00. rebuilding the port itself is a big deal the blast left a crater 140 meters in diameter a huge portion of the port was obliterated leaving up 280-0000 tons of construction
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and demolition waste in beirut. then there's the environmental fallout the explosion release toxic chemicals into the atmosphere the courts buildings the land and the city. in political terms rebuilding poses a speech challenge for a bankrupt country might in corruption lebanon's entire cabinet resigned after the blast but have still not been replaced its people of all but lost faith in their politicians fears abound any aid may be swindled away after successive governments piled up debt following the war with little to show for it but rebuilding beirut on the scale it needs can happen without politics and any plan to do so would have to find a way to work with both. it's got more on this from. a v.w. cause pondered. on what are we expecting from the plans to be announced later today . a good many terry today at 2 30 pm they did turn and the germans any
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geisha and when the proposed illegitimate project that's when they revised it of debate in the courts. the french activists in and adjusted their concepts and. it is subject to our treasons as it was amended subject adjustments before it was. my expats before it was and presented to the caretaker government yesterday. that actually. to add to it to reconsider to reconsider to do the reconstruction. and the area surrounding that point that's where devastated by that. had yesterday the hand very well it's a c.t. and has visit the basic needs of prime minister. prime minister. and. german ambassador and yes can said that other german private companies such as
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h.h. and. clears and looted very good but the part of the who gets to run and anything is official said friendship for its container and shipping sand on a ship and will also be part of their construction on. the coast of in the investment to be between $5.00 and $15000000.00. correspondent. thank you. when the international monetary fund issued its global growth outlook earlier this week it warned that the recovery from the would be far from even with poor nations suffering disproportionately one country where this is already painfully apparent is brazil after a year of lax restrictions and mass job losses for the 1st time in nearly 2 decades over half of the population does not have enough to. this is what
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life's become for millions of brazilians who no longer have enough to use the virus has led to mass job losses especially in the informal sector which employs 40 percent of the workforce. sandra prieto lives in after that left today she's got a much needed food donation. when i wake with nothing to ease i kneeled down and prayed for help. the backdrop to the economic crisis a health system that's on the brink of collapse on one day alone this week brazil recorded more than 4000 deaths from cold that 19. the country is now considered to be the epicenter of the pandemic medical staff are barely able to cope. after year it's difficult it's very difficult there's no it seems that it isn't.
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psychologically shaken you know situation is very long time here and the work over very very high. interest ember the government stopped its emergency aid program only to replace it this month with a farm nowhere of value alternatives. president jay or balsa narrow has been defiant in his refusal to impose and national lockdown was. ever called the law it would be easier to just follow the masses that way people don't accuse you of genocide just because you think differently where the general feel for the many people like sandra brito keeping the economy open has not proven to be a lifeline without the help of volunteers her fridge would remain and. we're girls . and before we go here's another look at our top story at this hour as the bottom
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and ministrations pushing for a $1.00 trillion dollars stimulus package to help the controversy over some people dummy critics a warning that the e.u. is not doing enough putting the block at a disadvantage before it's all come. thanks for watching everyone else a successful. one continent 700000000 people. with their own personal stories. we explore every day much. what europeans fear and what they hope for. some peace loving there up. next on d w. what
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people have to say 1st to us. trying. to piece reporter every weekend on t.w. . it's another edition all focused on europe with me liz show thanks for joining us today let's start with some good news from britain a short while ago the nation was still in the grip of a strict lockdown now it's seeing some rapid progress since the government in london the stepped up its vaccination program well then 60 percent of the adult population in england has already was.


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