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tv   Business - News  Deutsche Welle  August 19, 2022 1:15am-1:31am CEST

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something like this is like, oh, i just enjoy it. it's, it's, it makes me happy, can do this. i can explain it. in this pocket of the capital addis ababa. the girls are very much on board with claiming their place on the ramps. all right, and you're up to date, my colleagues. stevens fiercely is up next, the latest headlines from the world of business. and remember, you can always get all the latest news and updates on our website. that's d w dot com. i'm aaron tilton from me and the entire team here in the newsroom. thanks for joining us. people in trucks injured one, trying to flee the city center. more and more refugees are being turned away. order families, planes on the taxi syrian to the credit on its way low to get administrative
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people fleeing extreme ross getting 200 people with around the world. more than 300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines with ah, the u. s. anti wan lay out a plan to intensify their trade ties. it's the latest sign of us support for the island democracy in china shadow and an opportunity for taiwan tech sector. we have the details and turkeys flashes interest rates, yet again,
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despite soaring inflation and a weak lira anchor a keeps raising the minimum wage. but how long can it keep up? hello, welcome to the show. i'm seeking beardsley in berlin. the united states, anti one have announced they'll begin trade talks in the fall and have laid out the points of discussion. anti pay is eager for more u. s. investment and hopes to join international trade blocks. the us is meanwhile eager to show common cause with the islands due to its concerns over near by china, which considers taiwan its territory. a recent visit by us. how speaker nancy pelosi to taiwan, drew sharp criticism from bay. jing the island is the u. s. as 8 largest trading partner and a key manufacturer of semiconductors, among other technologies. here's our taipei correspondence, those on han with more. well, there are 11 topics covered in document that we've seen, but most of the focus are in this convention o u. s. trade talks. so i will highlight 2 parts here. the 1st one is the trade
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facilitation, because time was direct exports to eat through the u. s. have been increasing over the past few years, and u. s. is now almost the 2nd largest trading partner for taiwan. so being able to trade smoothly as an important for the 2 parts. and the 2nd important issue is digital trait. and we know the u. s. want to boot a new digital trade order in this region and town has always want to be part of it . and just as i mentioned that the u. s. is trying, again, is irma importance and also influence in this region and how, when it's ready to prove that they are in compliance with their rules. all right, so john hon into pay their let's go to yes. quarter in new york in taiwan is already an important trade partner for the u. s. who stands again from better trade terms. well, i mean, in general, taiwan would love to see a free trade agreement that really on the table remains to be seen. but we're talking a lot about technology, but also taiwan is
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a big importer of us. agricultural goods. the saw be wheat, corn, beef just to name a few of those are dozens of billions of dollars each year. and then on the other side, then they get the united states is hoping for more imports from machinery, for example, for the industry specialized them, tell me, conductors. so those are some areas that now all of the talks are on a probably that will start in full in china, will have a reaction to this. what could that mean for us businesses? well, i mean, already you see some cooling in the economic relations between the 2 biggest economy. it's on the planet. i mean, the us and both actually try to become less reliable from each other in the past 20 years. so. so i mean, we created this term key america, so china by all the us debt and then on the other side, america import said she goods from china to put it maybe
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a bit too simplistic. now america tries to produce stuff somewhere else, but in china, more at told. so that is one tendency and china on the other side has already started to buy less or almost no us a debt, meaning treasury so. so clearly that's comerica has come to an end. there are still some dependencies, they won't vanish overnight, but the relation clearly according to laura young's quarter in new york. thank you . let's go now to some of the other global business stories making headlines. a u. s. court has ordered 3 drug store changed to pay $650000000.00 for their roles in the countries opioid crisis. walgreens, walmart, and c, v us must pay the fine to to ohio counties to compensate for the costs of fighting addiction. the retailers deny complicity saying they merely sold pills, prescribed by doctors. the euro zone has recorded its highest inflation since the
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common currency was introduced. reaching 8.9 percent annually in july. and that's according to the use statistics agency, euros that soaring food and energy costs or squeezing households and businesses across europe. one's lation has been rising around much of the world, prompting central banks to lift borrowing rates, not in turkey. it's been cutting rates. and it did so again on thursday, economists say that's making things worse. 3rd, his business owners and households are now paying a price. it's frustrating for consumers and business owners. unlike rent and energy costs, rising businesses pushing up prices in response. but customers have less money left over for the likes of clothes shopping. the textile industry used to be booming and turkey. those days are over now. oh wow. oh i see if i can buy and have a more. everything's too expensive. the things that used to cost 200 lira about 13
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euros one or 2 months ago now cost 400 lira were just browsing, but we're not buying anything. many shops are facing bankruptcy, especially smaller producers because of the week turkish lira imported raw materials are becoming more and more expensive. has she are in the prices of everything for needles to thread have gone through the roof and we don't produce any of those things in our own country. unfortunately, that's our biggest problem is that the turkish government is trying to prop up the lyric exchange rate. but because president ad tuan is an avowed enemy of high interest rates, inflation is soaring to unprecedented heights really high up palsy, really, the purchasing power of citizens has decreased because of the high cost of living. but i believe we can make up for these losses in a short time. if we manage to give 30000000 citizens work. and a regular income sunni tax is one of the big textile producers in turkey. here they
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do their own dying and sewing, competing with asian manufacturers. the company can survive says managing director is at and tabby. some of his $900.00 employees own quite well, others just the minimum wage years, all on your home, there was a 50 percent increase in the minimum wage, but the cost of living has doubled out. the wage increase can't compensate for inflation. it's a difficult time and i don't know how long this will last, sean, florida. nolan, nicholas vivian odom. his company could survive the crisis, but many smaller firms won't make it. and with it, many turks will lose their jobs. my colleague agra maggie. she joins me in studio for more on this another interest rate despite this 80 percent inflation. and that's just the official figure. are you surprised? well, i don't have given the size of this back in june saying that nobody should expect us government to increase the interest rates,
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but they're going to lower it even more. but i'm surprised like everyone else because i, nobody expected it happening. nobody expected that they would do it in the middle of such a big cost of living, crisis and turkey. so with this, with this move also, the central bank admitted that they know that the nation is out of control and they are going to focus on growth only. but this will be a growth at the expense of the lives of working classes of what everyone does seem to believe that growth and job creation as we saw in that piece before that that will solve what he calls the cost of living problem. the turks believe this. no, of course not because the average turks, every citizens are the ones who are feeling the increase in prices increase in cost of living and it's tortures for them every time they do it. it's tortures. it's one closer mistake after another. and when we talk about the growth in turkey, we're not really talking about the improvement in the welfare of every citizen.
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we're talking about overall increase in the size of economic transactions in general. so growth means how well they think they're managing to touch economy, not how well the target citizens are doing it, that the turkish government has raised the minimum wage now twice alone this year, given the rate of inflation. how long can i keep doing this before time runs out? not long for sure, because it's time they, they the interest rate each time they make a move like this. it's reflected back on the lives of normal people and whatever raise they give to people in minimum wage and other supports if it's operating it's time. so we might as well see turkey is going to have actions next year in june. or may even ritz more than 100 percent, inflation actually is going to be very,
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very interesting to watch. will this lead to more opposition against air to one next year? well, to answer this question, we need to know what our position is planning and what the position is, how a position is reacting to this so far. of course, like i said it, it's affecting normal people. this is going to change their minds. this is going to affect their, their thinking and, and they are suffering. they are under torture, even with this. so of course there will be an effect, but it's still too early to speak about it because we don't know where this is going. all right, my colleague, mikey cci, here in studio. thank you very much. large parts of the german economy are worried about their energy supply as russia limits gas deliveries among them, undertakers, now they're considering what to do with their crematorium. so if the gas gets turned off, it doesn't take much to keep this little light on the eternal flame standing guard . as another cline this going on one last ride. once they gave closest flames
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will envelop the coffin at 1200 degrees, turning a body into ashes cremating bodies. it's a solemn duty for those who work here. but it's also a highly technical job. and real world problems affect operations here. like the availability of gas to feed the flames, much of which used to come from russia, the manager of the crematorium has a plan that we had here since my most recent lab. first of all, because we don't know when the gas shortage might occur. for instance, from one moment to the other, we run our cremation facilities, 24 hours, 7 days a week, bad gas. so in the event of a gas failure, we would be able to continue operating the plans that are hot at plans that are cooler or off at the time. we would no longer be able to start up to that means we
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could then continue to work with reduced power. cuffed by dial, bye. not letting ovens go cold at all. can safe crematorium up to 80 percent in gas . and it might be necessary anyway, for years, the number of cremation has been rising in germany of around 1000000 people who die here every year. a full 3 quarters are being cremated. right, that's our show to check us out online. d, w dot com slash business for more on these and others toys. we're also on youtube or the databases channel. thanks for watching into the conflict zone with sebastian. how worried are russia 5 about the progress of the war? for small valve, of investigative journalists, was managed to pierce the veiled secret fear among them under, for vasa founder. and they referred me again for a website which tracked russia,
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who can do services is really difficult for them. are psychological and flicked zone. oh, because it was not only bad, but on a, to the point. strong opinions, clear positions, international perspectives, nearly 6 months into russia's attack on ukraine. bloody war of attrition grinds on . could new development behind the front lines in turn, the tide can either side to break a stalemate. to find out on to the point to the point with d w, a ended glistening place of long the mediterranean sea. it's
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waters connect people of many cultures. seen it almost rock and to far abdul karim drift along with exploring modern lifestyles and mediterranean, where it has history left its traces, meeting regal, hearing their dreams editorially. during this week on d. w. now into a 2nd month, the war in ukraine has failed to give russia the quick victory of warranty. and there are signs of growing discontent among the political and security elite. back in moscow, a small band of investigative journalists does managed to pierce the veil of secrecy around those officials. among them i'm dress, alberta found their.


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