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tv   Business - News  Deutsche Welle  August 3, 2022 4:45pm-5:01pm CEST

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tensions arising between the 2 biggest economies. china had warned the us against house of representatives. speaker nancy pelosi trip to taiwan. but on tuesday, that's precisely where she landed. a jane views thy one as a brake white chinese province. that opposes international recognition of its government. and visits from officials by pelosi says her trip is a show of support for ty, one's democracy. nancy pelosi surprise visit to taiwan, threatens to throw off course washington's find balancing act, neither affirming nor denying beijing's claim to the territory. a wes in chinese stock sank on the news policies retention to visit investors. warrior could inflame tensions between the 2 powers stability and taiwan is important for global supply chains. taiwan holds 20 percent of global computer chip manufacturing capacity. it's the leader, while the likes of china, the u. s. in europe like far behind, and look what happens when we focus on the most complex and powerful chips,
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those under 10 nanometers taiwan is by far the most dominant. trailing far behind is the only of the country making such complex chips. south korea, the manufacturing of these chips is so complicated. the production processes are extraordinarily hard for other countries to copy. ty, ones tech industry has helped it become rich with a g d. p per capita of over $68000.00 more than 3 times higher than china's with it's large, but mostly poor population on the wall street journal ever but the islands, long term future under china's shadow is uncertain. beijing sees the visit as a provocation, so investors and security experts alike or alert to anything that could tip the balance in the china, taiwan rivalry from all. let's bring in joyce lee in taipei. what are the immediate local economic consequences of nancy pelosi visit? so china has a long history of punishing other countries by cutting them off from its market
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following policies, visit china. beijing has suspended in poll itself more than 2000 foot products from taiwan, including t honey and safer products. in the past, china hit single products from the primary sector, such as a specific fruit or fish. but this time they're targeting processed foods to the potential damage could be a sizable, china is tie ones largest trading partner with bilateral tray of over 300000000000 dollars last year. and keep in mind that tie one is holding a logo election in november. we're photos typically focus on no co economic and social issues. so china's band could, we can tie ones ruined, party d p in the coming election. so tell me more about the chip industry because i know the you with is pushing to become more independent from tie one china to has its eyes set on that chip,
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making industry is very lucrative and essential to so many different sectors. where would that leave tie one if both the us and china, edge of its biggest customers become more independent? well, china has attempted to develop its own semiconductors, but they simply don't have the knowledge about the delicate process of chip mccain . meanwhile, making chips in the u. s. is just too expensive. so tie one's top over shows, had said that there is 0 chance that the semiconductor industry could be hollowed out and re okay to, to, to us. so for now, taiwan is irreplaceable. you had it for joyce lee. thank you very much for filling us in with the latest there from taipei, germany's export has have logged strong growth in the 1st half of the year despite the effects of the war statistics. so export of goods increased 13 percent compared
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to the same period last year. reaching more than 750000000000 euros imports grew to the value of 26 percent to 700. 22000000000. driven by the growing cost of energy payment, colbert joins as from the association of german chambers of industry and commerce. better than expected search there and records nets, despite the war in ukraine and the pandemic and supply disruptions. how should we read the numbers? well, to be frank or our expectations for the german exports have still been quite dampened over the last couple of months. while the latest figures now may seem positive at the 1st glance, it is clear that a lot of these increases are actually due to price increases. and, and that's really a pity because, you know, german exports with a ratio of 50 percent of the term g. d p means that every,
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every 2 percent increase will translate to one percent increase in g d p. and so, so these exports mainly and imports increases mainly being due to price increases means that in real terms, foreign trade is stagnating, which is not normal for germany. so that doesn't leave really much of this export growth at all, and germany is on the edge of a downturn. what would that mean? well, the headwinds for germany, companies that are internationally active, they are really increasing. they have been increasing in many ways. we have seen the imported inflation, especially with regards to energy prices. also do of course to the changes of the exchange rates are weighing heavily on the german economy. you know that one in 4 jobs actually depends on foreign trade and industry. it's
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even every 2nd job. and also we have a huge issues regarding to supply chains. also the, the war, the russian war in the ukraine, and still strict covet 19 rules in china are having a big impact on german supply chains. and so this is actually a very, very difficult environment for germany. companies that will not go away quickly. so we expect a very difficult month for german foreign trade ahead. how worry would you say members of your organization are about these supply disruptions continuing about the rising costs continuing, and these tensions in taiwan? well, to be frank, our companies are very worried and that's across the board should look at different sectors regarding transportation. for example,
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we still have the issue that the containers are where the ships aren't. on the carpet, 90 in lockdown in china, they have effects that will still continue for a couple of months time. so even if we have companies that have orders that could actually produce and some of them are com to actually produce because one of the main screws is missing. same is true for the energy prices. that's really a matter of international competency of compet competitiveness nest for a lot of german companies. and these had winds. you mentioned that to your political risks. we have seen them increasing or a long time, and it would be very important for our companies that these geopolitical tensions,
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especially in asia, where we have major trading partners that would be reduced. and instead we could move forward to a more stable multilateral rule based systems. are better trading relations with other countries and also our governments to help reduce trading barriers and improve trade ties with you trade deals of our major trading partners like marcus, who are in india or in indonesia. okay. we're going to have to leave it there. claimants, cova is director of the trade policy at the d. i h. k or association of german chambers of industry and commerce. it's been a week since ross has gas from reduce deliveries to germany. again, 3, they know, 3 pipeline to 20 percent of regular flows. this time, most probably because of germany, support of ukraine. moscow blames maintenance and waste and sanctions. but german chance lola show accuses russia of deliberately blocking the delivery of a turbine for the pipeline in germany after being repaired in canada, inspecting it showed set the turbine is now working and ready to use. once russia
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requests it, he says rushes claims of technical problems and credible. and so guess customers to expect more restrictions. the steve, nick's invito cons, nothing stands in the way of forwarding the turbine to russia. wilson, except that the russian customers have to said that they wanted sub von and that they provide the necessary information to customs wasn't on all other than premise have already been cleared. it is pretty simple. the turbine is here. it can be delivered in someone simply has to say i wanted, it was no human, sorry. it's marked to hob, the german chancellor there. well, i recently caught up with my ukranian cousin again who made it out of the country a few months ago and has been busy trying to set up a new life here in germany for his family. is learning the language bit by bit. and i was surprised asking about work when he said he still got his old job back home as he can to everything online. large parts of ukraine's economy have been
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destroyed, but not the i t sector. he's another example, boy, it's a few last edits for diarrhea minutes before she'll take the stage at a networking meeting. she's one of many ukrainian i t specialists working from berlin these days since their full scale war started the new crane. unfortunately, i was still scared to live in rec, andrea, since i can work remotely on. and so i think i can be more productive from the safe place than from like dangerous one. she's not alone. the german ukrainian organization feature has brought dozens of ukrainian start up employees to the networking event we want to connect ukrainian and the german people and also to make people aware that say ukrainian companies, they are really cool. they are innovative and with them people and companies in europe and in berlin, specifically,
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they quits work and corporate re face is one of those ukrainian companies. and it's app has been successful internationally. on stage. darya talks about how the startup found its own way to support ukraine during the countries war against russia. barrett, gordon is the through, says, i won't stop after destroying ukraine's independence. my muster plan is to restore the soviet empire parts a few cranes economy will likely collapse due to the war. it's g. d, p haft, that's according to i, m. f. estimates for industry and agriculture are devastated. the booming i t sector however, remains mostly intact. it could be an important pillow for the country. many companies including re face, had to restructure m at the chaos, but they're still successful. i'll tell them, i really hope that the results of our idea in the state and our stops showed that
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we can the bar accumulate and we can be effective and productive. nevertheless, re face has become one of the most popular apps in the u. s. says dahlia. most of its uses however, likely don't know that the company's headquarters lie in war torn ukraine. nice doing business with it. ah ah. with
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ah, is it just a sanctions loophole? or is it harold in a new era? explores new trade with because western ports are close to russian freighters. the route from st. petersburg to buy is now much faster. is the war and ukraine, a game changer for world trade made in germany? 30 minutes on d. w. oh. ready to get all these places in europe are smashing all the records, stepped into a bold adventure. just don't lose your grip. it's the treasure
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map for modern globetrotters. discover some of europe's record breaking sites on youtube. and now also in book form a red alert for the blue climate. ah, this is a just drought. this is a red if acacia. i think we're going to have some epic fighting over the world are, is becoming a scarce commodity. he's just getting dryer and dryer, and we need more and more water somewhere. earth dying of thirst. no water at home. then it's like be a pod with global struggle for water. and nothing can be done. the 1st
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starts august 10th on d w. b. ah ah, this is dw news alive from berlin us. how speaker nancy pelosi leaves taiwan as tensions with china rise pelosi to parts ty pay after promising to help boost the islands self defense. the high ranking visit prompt fury from china, which responds with military drills. also coming up on the show weeks after a deadly crackdown on europe's border with africa, migrants accuse spanish police of illegally forcing them back into morocco. t
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w meet those who say they were.


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