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tv   Business  Deutsche Welle  May 24, 2022 8:15am-8:31am CEST

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and things were about to get worse when flattened hot baghdad goal of his own with just over an hour, gone to defender, curling and amazing, pre kick right in to the news. and that's how it ended to nail and had to dug themselves out of a hole when it mattered most a joyous emotional night for the berliners and despair. for hamburg, you're watching dw news from berlin. business is next on terry martin. thanks for watching with ah ah ah,
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listen carefully. don't know how with today. ah, feel the magic discover the world around you ah. subscribe to d w documentary on youtube. with ah, new rules for the 21st century economy. that's how u. s. president joe biden describes the new india pacific economic framework signs during his asia told. but is it enough to compete with china and the world economic forum meeting in dev off energy security is on the agenda. the big question facing
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e u. delegates out to ditch russian oil and gas prices. d to be business on robots in berlin. welcome to the program. us present. i biden has signed up a dozen countries to help challenge chinese dominance in asia. during a tour of the constant, he announced the into a pacific economic framework saying it would help the country members to grow faster. and fara joe biden launched the indo pacific economic framework for prosperity with the prime ministers of japan and india. while 10 other leaders followed the meeting on line were riding the new rules for the 21st century economy . they're gonna help all of our country's economies grow faster and fair. we'll do that by taking on some of the most acute challenges that dragged down growth and via maximizing the potential of our strongest growth engines. the countries joining
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the trade initiative include australia improved. i, indonesia, the philippines and thailand. it's part of washington's efforts to counter china's economic weight in asia, but it's not a free trade agreement. it doesn't aim to lift customs, duties and trade barriers due to us concerns about the outsourcing of jobs. one goal, the framework is to make supply chains more resistant. for example, to secure supplies of computer chips, which are urgently needed in the auto and high tech industries. infrastructure is another key element. there is a massive need for new roads, ports, and energy projects. in the indo pacific region, the byte in administration does not want to lose out to china's bout and road initiative. in beijing, the chinese foreign ministry said the i p. f is an attempt to contain china and doomed to failure. will issue mean with whatever the name of the regional cooperation framework. it should promote free trade instead of engaging and
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protectionism in disguise. it should contribute to the world economic recovery rather than we stabilizing the industrial chain. it should promote open cooperation instead of the political confrontation without being on top. but us aims to make the end pacific countries more attractive as manufacturing hubs. members of the new group are also concerned about china's increasing assertiveness and welcome the u. s. focusing more attention on the end of pacific region across the globe. well, let's get more on this across to our financial correspondence in new york in the core to yen. we heard that this crucially is not a free trade agreement. why isn't it now? well, i mean, 1st of all, it's not entirely clear what's in it for a member countries because they do not get to better exit to the us, the markets or lower tariffs on the other side when those countries dealing
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together with all the supply chain issues that might be that could be beneficial and he couldn't hide it and also to some of the them country. so if you look at the last attempt off the trends pacific free trade agreement that the us bail out in 2017. i mean, there had been some criticism from both sides of the political aisles here in the united states. and now is the very narrow advantage. and that the democratic party has been congress that isn't really clear. if there would have been any chance to get a new free trade agreement done this partnership, her last part of it is about competing with china. but actually markets have been boosted by talk of president biden. g lifting some terrorists on chinese goods. trump here retires. i suppose was the president thought to be planning well, i mean, the us president did mention that once he returned to the united states, he wants to discuss this topic with his secretary of the treasury agenda and yellen
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. well, if you look at what is happening here in the united states with all this inflationary pressure at the approval ratings of the president are extremely low. so as i mentioned, it is mostly because of inflation. and if you look at the terrorists that got to in both under us president donald trump, what mostly happened had hardly any effect on imports from china, but it did have a negative impact on a price that's paid by us consumers and us corporation. so that is the main reason why joe biden, to thinking about dropping those terrors to a lower prices and go to new york for us. thank you to dallas now, where energy security is a key topic, the global leaders, the world economic forum, annual meeting. it's the 1st time that the meeting's been taking place in person.
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in 2 years, delegates are expected to discuss a number of global crises, including the pandemic climate change, and the war and ukraine. topping the agenda is the was drastic effect on energy prices, food security, and supply chains. while millions of people have fallen into hardship in recent years, many of those richest, i've only seen their fortunes grow as lead to a start warning about wealth inequality. 263000000 people are in danger of being pushed into extreme poverty. according to oxfam, at this year's world economic forum, the cov 19 pandemic has altered life as we know it. and for some it is for the better i don't during the pin, they make a new billionaire was minted every 30 hours. and now in 2022, every 33 hours, 1000000 people are falling into extreme poverty. so in order to address this extreme difficulties, we are calling for taxes. oxfam says the inequality between the rich and the poor is growing at an alarming rate. and mounting inflation and high cost of living have
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reversed decades of progress on power t. so there are measures that can reduce this inequality. so taxation at low percentages, we're talking to percent air for millionaires going up to 5 percent. and, and with that we can raise enough money to address this deep social problems. the report says, the world den richest men on more value than the bottom 40 percent around 3000000000 people. and their net worth has increased by $5000000000.00 each day. during the pandemic, he, we are only asking for $1.00 to $2.00 days worth of their net worth increases at too much the ash to stabilize a world gets famine destabilization of mass migrations. higher taxes on the wealthy could help lift many people out of poverty were at risk of losing their likelihood . also on the agenda, dr. vasa, is that question of energy security war in ukraine has made supplies of oil and gas,
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particularly to europe, suddenly very unreliable. a representatives are looking for answers to how they can and their reliance rawson, russian fossil fuels weapons being to maxim tim jenko, the seo of ukrainian energy crew, detect, he believes ukraine can provide the solution. what we need is an immediate move from, from european countries, is to allow ukrainian comp is to start exploring electricity because synchronization was an emergency in emergency mod and now we can move to commercial export. then as a next step, we here in the was, we tried to bring a coalition off of the largest energy companies and also a representative of governments to, to build collision. we call 30 gigawatts by 2030. it means that we want to increase our install capacity of renewables in ukraine, from 9 gig, or what we have now to 30 by 2030. it requires billions of investments. it requires a political insurance support of european countries as donors are. and then it can
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be feasible and then all the so the kristy can be exported to, to europe, supported europe. we can produce green hydrogen in ukraine using renewable sources of energy. and this is basically our address to this. all we're reliance on russian energy. historically, we see in european countries, but as part of its push away from russian energy, germany is desperately searching for natural gas. is even considering drilling of its own coast, but that striving concern of the impact on the local wildlife dw steven beardsley, reports from the island of borkam in the north sea. for more than 3 decades, alberta's ackerman has guided school classes and tourists into the tide of last year. it's a landscape that stretches across europe's north sea coast and is protected by national parks in denmark in germany. it's incredibly rich in flora and fauna is
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i'm leaving the room. now. ackerman is worried about drilling plans, hazardous and so. so these are risks that personally make me very, very fearful. these are real fears this that there would be long lasting damage done to our island foundation to angst it. another time when sea levels are rising items are in a now we're digging something out, but the let us just not sustainable. he grabbed the hint was up to swear. niche toppa borkam thrives from tourism, which comes because of its nature and not just the title flats but clean expansive beaches. an island population of 5000 can swell to as many as 35000 people during high season. the regional government in hanover had outright rejected drilling. now it supports the project saying that the war has made it necessary. the gas drilling firm, one dea's projects, there are 60000000000 cubic meters of natural gas in the reserve which straddles the dutch porter. the platform will stand 20 kilometers off borkam and it will
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avoid nearby national park territory. here in borkam residents often mentioned the nearby city of groaning in, in the netherlands. that's where extensive gas drilling has led to hundreds of small earthquakes over the years, destabilizing homes and angering the population. those earthquakes were unforeseen . the c e o of the drilling firm says his company has already conducted environmental assessments. and that the comparison with groningen were gas reserves are located directly under the region is unfair. subsidence has been, of course, investigated, and there will be no subsidence underneath the islands or the structures underneath the island because the reservoir doesn't get close to the island the rest far from where we produce at the gash. residents and borkam also use gas and say they understand that it needs to be affordable. just not why drilling has to happen off their coast. i'm focused on knocking on the mainland. they may say, well, sure,
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let them drill for gas up the coast of welcome wants it to me, but not when you live here in the sure 20 kilometers may not seem like a big deal. but you can understand the islanders to look at this critically and have real misgivings. that dog golf course of the duncan home. but this time they fear dog world events are moving faster than they can react to them. the it's a week and i'll be safe, betsy reporting that not so from a in the business team here in berlin from holding on to my website. either way dot com slash business stick. no say find is on the t doing is use you channel legos and where on facebook as well to next on ticket. oh, emotion. oh man, this is simply for oh, musical messages ah grand fundraiser for that terminates foundation.
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