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tv   Business - News  Deutsche Welle  August 19, 2022 8:15am-8:31am CEST

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says stuff, which is not something nor like for a business i think. but i just enjoy it. it's it's, it makes me happy. can do this. i can explain in this pocket of the cap and i do some baba. the girls are very much on board with claiming their place on the ramps and that's it from me and the news team for now. i'll have an update for you at the top of the hour, and you show of support for taiwan as the us pledges to strengthen spray ties. steven bisbee has that departure to the to day this meet flying to a foreign planet in the 16th century. it meant being a captain and setting sale to discover a route the world famous c. voyage of ferdinand of magellan. i'd rather
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erase linked to military interests, erase linked to political and military facilities. but it was certain linked to many financial changes and adventure full of hardships, dangers and death. 3 years and that would change the world forever. but jillions journey around the world, starting september 7th on d. w. 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 as an opportunity for taiwan tech sector. we have the details and turkeys flashes interest rates, yet again. despite soaring inflation and
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a weak lira anchorage 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 won't 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 u. s. 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 house 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 um, in document that we've seen, but most of the focus are in this conventional us trade talks. so i will highlight 2 parts here. the 1st one is the trade facilitation,
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because time was direct exports to eat to 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 butte, 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 into town is ready to prove that they are in compliance with their rules. all right, so don hahn is i pay there. let's go to urines quarter in new york in taiwan is already an important trade partner for the us who stands the gain from better trade terms. well, i mean, a general tie, one would love to see a free trade agreement of that. so really on the table remains to be seen, but we're talking a lot about technology but all so, hi, one is
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a big importer of us. agricultural goods. the saw being weeds, corn, beef, just to name a few. 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 than tele conductors. so those are some areas that now sold. 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 buys 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 commentary caught has come to an end. there are still some dependencies, they won't banish overnight, but the relation clearly according to laura ends 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 chains to pay $650000000.00 for their roles in the countries opioid crisis. walgreens, walmart, and see the us must pay to find 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, euro stat 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 the 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 close shopping. the textile industry used to be booming and turkey. those days are over now. oh wow. oh i see if i can't buy and have more. everything's too expensive. the things that used to cost 200 lira about 13 euros
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one or 2 months ago now cost 400 lira would 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. hasha 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. me high up paula's who were really the purchasing power of citizens as 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 in 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 matthew 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 is 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 in 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 average citizens are the ones who are feeling the increase in prices increase in cost of living. and it's torture us 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 citizens.
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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 the turks 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 us rate inflation. how long can i keep doing this? before time runs out, not long for sure because it's time they, they the interest rates 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 each time so we might as well see turkey is going into actions next year in june, or may even with 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, if it's affecting normal people, this is going to change their mind. 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 client this going on one last ride. once the gate closest flames will
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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 has since my most recent lab, 1st of all, because we don't know when the gas shortage might occur. for instance, from one moment to the other, if we run our cremation facilities, 24 hours from 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 and plants that are cooler or off at the time. we would no longer be able to start up. that means we
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could then continue to work with reduced power, cuffed by dial by not letting ovens go cold at all, can safe crematorium up to 80 percent in gas and it might be necessary any way for years. the number of promotions 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 other stories were also on youtube or the de wu channel. thanks for watching is the end of the pandemic in site. we show what it could look like will return to normal and we visit those who are finding it difficult
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exceeds his successes are seen in our weekly coping 19 special next on d. w o to the point. strong opinions, clear positions, international perspectives, nearly 6 months and to russia's attack on ukraine, a bloody war of attrition grinds. aud could new developments behind the front lines turned. the tide can either side to break the stalemate. find out on to the port. to the point with d w. ah 50 years ago the international gathering of peace and co operation becomes the
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scene of a horrible tragedy. arab terrors, armed with submachine guns, went to the headquarters of the israeli team and immediately killed one man. and that this will be the last time i saw in life or worse fears realized tonight, they're all gone out. i witnesses experienced the terrible events and this, the world should not forget the low shuttle, the $972.00 olympic massacre. start september 3rd on d, w. ah, many people can only make ends meet and they gave it pandemic by somehow supporting themselves. people on low incomes often fall through the cracks of politics and the authorities. this week will be showing you some successful social projects in argentina and columbia.

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