storing the world trade organization into disarray. well but there has been a lot of criticism in regards to the world trade organization not just under president. but also under the obama administration what the united states is basically looking for is not treating china especially in a different way but the same way as the united states and also a lot of a european countries are getting treated china does not have to follow the same rules even as it is the 2nd biggest i'm. in the world so obviously change is important but as i said we already had other presidents who did not replace the judges necessary saw the whole thing may be escalated under u.s. president donald trump but it clearly did not start with this administration has scored in new york thank you. and now to some of the other global business stories making the news a u.s. judge has ruled in favor of us all a giant exxon mobile saying there was no evidence investors were misled about the true cost of addressing climate change the company was accused of causing investors a

a global trade emergency and the biggest crisis in the history of the world trade organization. arbitration system collapses in. pressure goes out its top court also coming up the swine flu epidemic is hitting consumers in china prices for pork have doubled pushing overall inflation to the highest level in years and this year's nobel prize winner is now have their medals to take you inside the factory where they're for. kris kobach into the program as if global trade wasn't under enough pressure it's now losing its ultimate empire the world trade organization will no longer be able to deliver a final trade dispute rulings starting on wednesday the body's chief says this after member states failed to on block a dispute over the way that cases have been handled successive u.s. administrations have blocked the appointment of new judges to the w t o's now effectively crippled apple of course critics fear world trade is now facing the law of the jungle the world trade organization is facing its biggest crisis since it was founded a quarter century ago director general roberto as of a

pressure hollowed out the world trade organizations top quartile is going to settle trade disputes from now on. i'm going to get jones and this is g.w. business live from berlin welcome saudi arabia state oil company saudi aramco has officially begun trading on its domestic stock market it's already the most valuable publicly listed company in the world however that is not enough for the kingdom which remains determined for saudi aramco to top the 2 trillion mach and 6 have gone well so far in the 1st morning of trading. this is what it looks like to launch the world's most valuable company on the stock exchange for the 1st time. thanks saudi aramco pride and joy of the saudi arabian royal family and kingdom has gone public it made its long awaited market day view in riyadh on wednesday to march fanfare. and early pre-treating the shares hit $9.39 each that's a 10 percent jump from the starting price enough to hit the regulatory cap on daily increases or decreases for the stock that pushes the company's value up to one point trillion dollars the kingdom wants a 2 trillion dollar valuati

also coming up off war at the world trade organization bodies leadership trying to save the appeals court as the united states blocks the appointment of the judges and making the switch take you to a dairy in mexico which makes cheese using solar thermal signal. was called welcome to. the financial times says china has ordered all its government on . offices and public institutions to remove foreign computer equipment and software within 3 years it is the 1st time beijing has given buyers if you could start since to switch to domestic tech companies it comes in the midst of the trump administration's global campaign to curb the use of huawei technology outside of china the move is likely to have a big impact on u.s. tech companies such as microsoft h.p. and dell now let's get more in the story with our wall street correspondent in new york u.s. tech companies generate as much as $150000000000.00 and annual revenues from china how have they been reacting to these rumors well if you look at the stock prices the reaction has been muted and we still have a couple of open questions so you ment

system the world trade organizations appeals court is on course to collapse after successive u.s. administrations blocks the appointment of new judges global trade looks set to lose its ultimate empire. the man is not for budging and unless there's an 11th hour breakthrough the face of the world trade organizations top of course has been sealed us some bosses are to the w t o denis chase says he'll continue to block the appointment of new judges whose job it is to rule on trade disputes here is what that means the applet body is made up of 7 judges 4 whose terms have expired have not been replaced because the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court would no longer be able to function and the director general said that he will be now holding intensive consultations of a political nature or get to his statement in a minute but what he said was that he thinks we need to dig deeper and we need to have a broader look at what we might be able to do in order to get a permanent s

system the world trade organizations appeals court is about to collapse the successive u.s. administrations block to the appointment of new judges global trade looks set to lose its ultimate pile without it it will be impossible to reach final resolutions of trade disputes between countries the world trade organization without having to worry about possible sanctions countries could use tariffs or be tempted to implement protectionist measures critics fear world trade is facing the law of the jungle. the man is not for budging and on left says my left and our breakthrough the face of the world trade organization top of course has been sealed the u.s. ambassador to the w t o dennis chase says he'll continue to block the appointment of new judges whose job it is to rule on trade disputes here is what that means the applet body is made up of 7 judges 4 whose terms have expired have not been replaced because the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court would no longer be

the world trade organizations appeals court is about to collapse after successive u.s. administrations blocked to the appointment of new judges global trade looks set to lose its ultimate empire without it it will be impossible to reach final resolutions of trade disputes between countries the world trade organization without having to worry about possible sanctions countries could use tariffs or be tempted to implement protectionist measures critics fear world trade is facing the law of the jungle the man is not for budging and on left as an 11th hour breakthrough the face of the world trade organization top of course has been sealed the u.s. ambassador to the w t o denis che says he'll continue to block the appointment of new judges whose job it is to.

the head of the world trade organization has announced the launch of quote intensive political negotiations to salvage the apple a branch of the body's internal court system the. appeals panel sometimes dubbed the court of world trade will no longer have the needed quorum of 3 judges as of midnight on tuesday due to mandatory retirement and the united states has blocked the appointment of new judges accusing the court of serious overreach and breaching u.s. interests the man is not for budging and on left as an 11th hour breakthrough the face of the world trade organization top of course has been sealed the u.s. ambassador to the w t o denis chase says he'll continue to block the appointment of new judges whose job it is to rule on trade disputes here is what that means the opposite party is made up of 7 judges for whose terms have expired have not been replaced because the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court would no longer be able to function. many of washington's objections

justin's the world trade organization is going through its most severe crisis a new study reveals china and united states both currently locked in a trade war on the biggest beneficiaries of w t o membership. also coming up the chinese china's new silk road to pump hundreds of millions into it was struck. projects in the balkans but who's profiting in dns. and a new loop requests german retailers to issue an electronic receipt receipts for every single sale shopkeepers are up in arms. i want to get jones in this is the w. business asia good to have you with us trade was the sanctions breaks it free trade under the rules of the world trade organization has come under fire but a new study by the battle's mann foundation found that the biggest beneficiaries of w.t.r. membership are the 2 nations currently embroiled in a major trade war namely china and the us now they are pulling in by far the largest profits and that's thanks to their membership in the w t o. for the u.s. the study says profits come in at around $87000000000.00 china has an $86000000000.00 slice of the pie and in 3rd plac

over trade deficits fast track negotiating authority in the world trade organizations americans trade because doing so allows. us to concentrate on what we do best thus raising productivity and incomes and you go on just tell the story of what treated sheaves and how it is at that time being pilloried i'm interested to know how you think that debate and challenges have changed 1000 years after or we pretty much running around chasing you know at the same way it's just a disaster i think what you're seeing with this administration of all the things that it has done that have been criticized i think its trade policy is probably the worst maybe immigration is kind of tough but he the president has a trade adviser who is a tremendous outlier peter navarro very very few trick economists would agree with his point of view which essentially is that we have to have bilateral equality with everybody that we trade with which is an absurd proposition that was easily refuted by adam smith and 776 i mean one of the problems as far as i'm concerned with trade economics is almost everything is alrea

pressure hollowed out the world trade organizations top court who is going to settle trade disputes from now on. and spain has a huge problem with drought the o.e.c.d. says to few cation it's already widespread as madrid fails to implement effective laws against climate change. i want to johnson this is d.w. business live from berlin well come saudi arabia state oil company saudi aramco officially begins trading on its domestic stock markets today in its i.p.o. last week over 25000000000 dollars giving it a valuation of $1.00 trillion dollars that comfortably makes it the most valuable publicly listed company in the world however that is not enough for the kingdom which remains determined for the company to top the 2 trillion mark to that into the country's royal family has been encouraging state investment funds to buy up stock to further drive up the value. now for more let's cross over now to financial markets correspondent to chelsea delayed h.l.c. how likely is it that they will reach the 2 trillion dollar mark today there's going to be a lot working and because favre over the next

also a global trade emergency the world trade organization system collapses in disarray after u.s. pressure. it's its top. this is business africa. as well. but 1st we go to south africa where heavy rainfall has triggered widespread flooding whole neighborhoods have been submerged and the country's how utility eskom introduced rolling power cuts to relieve the national grid that has forced many mines to shut down posing a threat to the export sector it's a major blow to the country's already slowing economy contracted in the last quarter. since taking power in 2018 of the opium prime minister that implemented sweeping political reforms that won him praise and the nobel peace prize which he collected today ethiopia's economy also goes from strength to strength but a lot remains to be done because foreign investors are mainly. by the incredibly cheap wages their companies say they don't break the law and support efforts for a minimum living wage in the country but in the meantime despite setting up shiny new textile factories they're profiting from scandalously low wages some workers

it free trade under the rules of the world trade organization has come under fire but a new study by the battle's man foundation found that the biggest beneficiaries of w.t.r. membership are the 2 nations currently embroiled in a major trade war namely china and the us now they are pulling in by far the largest profits and that's thanks to their membership in the w t o. for the u.s. the study says profits come in at around $87000000000.00 china has an $86000000000.00 slice of the pie and inserts.

the world trade organization has come under fire but a new study by the battle's mann foundation found that the biggest beneficiaries of w.t.r. membership are the 2 nations currently embroiled in a major trade war namely china and the us now they are pulling in by far the largest profits and that thanks to their membership in the w t o for the u.s. the study says profits come in at around $87000000000.00 china has an $86000000000.00 slice of the pie and in 3rd place is germany which reaped around $66000000000.00 in financial rewards for being a member of the w t o nevertheless the world trade organization has come under considerable pressure recently the united states its biggest beneficiary remember in particular is blocking the work of the w t o which includes 164 countries well for more let's bring in now our business correspondent andrea hang in singapore andrea given those figures one can't help wondering why washington and beijing would jeopardize all the success. it would seem like a no brainer monica but one could say that it's because both countries are simply unhappy and frus

world trade organization realizes that my attitude on them or they don't read it is fairly well i'll tell you sunday what will happen is and there we've been winning a lot of cases that the world trade organization we virtually very rarely did we ever wouldn't it is they took advantage of the innocence of lettuce where it is we have we won 7 ad $1000000000.00 and if france puts a tax on our companies then these are companies that are against you know they were against b. if i read the papers correctly out of the way they were guess the but they were desperate is supposed to be very powerful and yet i won so maybe they're not surprised but there are american companies i don't want to france tax an american company if they go to be taxed it's going to be at a stage will tax then why are you staying out. because i don't want to complicate it i can't. i don't want a lot of elections for a lot of people. if you look just over the last few months 2 elections in north carolina one i helped the governor of kentucky evident versus dryden but they went out supposedly 171819 points because the

it matters because this is 25 years of the world trade organization formed in 1995 to create a system governing global trade to resolve these disputes. and the trump administration has essentially ended that era or ended the era as we have known it. and they've done very deliberately. they've got very deep grievances with the way the wto has functioned. but had is one of the sort of haul marks of what president trump calls america first. >> so many different narratives coming out today as the next 12 hours or so develop. let's also talk about this, jonathan. former vice president joe biden as you remember capitalized on the video of world leaders mocking, basically, president trump at the nato sum submit with a digital campaign ad claiming the world is laughing at the president. what is axios reporting now about that? >> so my colleague, alexi mccammond reports that that ad did extremely well on social media getting somewhere near 12 million views across different platforms. so the biden campaign has decided to put it on television. they're throwing it as part of a $4 million ad buy h

we won in the world trade organization, we won $7.5 billion. we never used to win before me the united re me states was a sucker for all of these different organizations realize, the world trade organization realizes that my attitude on them, if they us fairly, well, i'll tell you someday what will happen. nd we've been winning a lot of cases at the world trade organizations. we virtually, very rarely did we a case. they took advantage of the united states. is.hat's where it we won $7.5 billion. if france puts a tax on our companies, again, these are companies that are against -- you know, they were against me, read the papers correctly. i don't know why they were against me but they were against me. they're supposed to be very powerful. i won. powerful. are not so they are american companies. i don't want france taxing american companies. going to be taxed, it's going to be the united states will tax them. ok. are you saying now [inaudible] i don'tt trump: because want to complicate it. i won a lot of elections for a lot of people. if you look

trade organization is not the america is not the e.u. it's developing countries is the south who have huge interests in making sure that conditions of accessing other developing countries are also clear and transparent it's a negotiation that is pushed by. china by qatar who want to make sure that there is a bit of a better transparency over investment regimes in other countries so i think this is an area we should not be neglecting this there is a big game that is called south south also on the investment space now in all of these at the end of the day what might there is is back to the quality of the investment where is this investment going and i think we are not doing enough of a good job countries are not doing enough of a good job not only on tracking how much investment they attract but what is happening with the investment they track. sorry the i trucked what is the tracking what k b i's is ali going to use to measure the investment that is capable of a drachten here in qatar and what are the k.p.a. is that the countries we are i

now the world trade organization realizes my attitude on them if they treat us unfairly, i'll tell you what will happen. we've been winning a lot of cases at the world trade organization they took advantage of the united states. that's where it is we won $7.5 million. if france puts a tax on our companies -- again, these are companies that are against me. if i read the papers correct me. they were against me yet i won. so maybe they are not so powerful they are american companies. i don't want france taxing american companies if they are going to be taxed, it will be the united states that does. >> why are you staying out of the uk election? >> i don't want to complicated look, i've won a lot of elections for a lot of people. the last two months, two elections in north carolina. i helped in kentucky they went up 17, 18, 19 points in louisiana, i got them into a run off and after getting them into a run off, he picked up 14 points because they thought he was going to lose to a popular governor good guy he almost one. lost by less than a point. with the exception of those two races where

including the world trade organization. so in the words of bush 41's trade representative carla hill, you'll replace the rule of law with the rule of the jungle. >> carrin. >> enjoy your breakfast. >> over the weekend we saw the focus of what the national defense authorization act for this year, the annual military authorization bill and there is a trade made for paid family leave for government workers across the government for the space force. now we knew if trump would get his space force there could be a big trade off but i'm looking at what people are are saying about this. if this is a deal locked down this is significant for the family paid issue and whatever the military does sets the tone for the government and whatever the government does set the tone for the nation and there have been a national paid leave policy a policy and the president's daughter have promoted that and what people say on the gop side could set a standard for where this goes in the future that has a chance of expanding beyond that. >> imagine

indonesia is the largest palm oil exporter in the world within the world trade organization has been selling palm oil to some big clients for years for example the e.u. on very good terms for jakarta the stakes are high it's heavily reliant on palm oil production as one of its key industries with over 2000000 indonesians directly employed by the industry and many more gaining from indirect economic benefits and after threatening the e.u. with countless times since indonesia has now taken legal action against the european union alleging discrimination against indonesian palm oil exports with the lawsuit indonesia hopes the e.u. will promptly change its read to policy and delegated act as well as scrap of the high risk in direct land use change status it has given to palm oil and just last week the block imposed a 5 year tower of stone bio diesel from the southeast asian nation to counter alleged subsidies to producers in the country of ours off to a complaint from process that subsidized exports of indonesian bio diesel to the e.u. are causing a threat to material injury to the union

and we've been winning a lot of cases at the world trade organization. we virtually very rarely did we ever win a case. they took advantage of the united states. so that's where it is. we won $7.5 billion. if france puts a tax on our companies, again, these are companies that are against, you know, they were against me if i read the papers correctly. i don't know why they were against me. but they were against me. they're supposed to be very powerful and yet i won. so maybe they're not so powerful. but they're american companies. i don't want france taxing american companies. if they're going to be taxed, it's going to be the united states will tax them. okay? >> and why you are staying out of the british elections, sir? >> because i don't want to complicate it. i can -- look, i won a lot of elections for a lot of people. if you look just over last few months, two elections in north carolina i won. i helped the governor of kentucky -- i mean they went up supposedly 17, 18, 19 points because of me. he lost by a little bit. but i lifted him 19 points n lou

trade organization over the issue claiming the e.u. is guilty of discrimination the e.u. is phasing out imports of palme obeys biofuels because normal production causes widespread deforestation hundreds of thousands of like tins of rain forest burned in indonesia in september only to make room for pommel plantations. just another week until christmas christmas tree sellers are getting busy in the us . to get their tree home or. hold the country is dealing with a serious christmas tree shortage and the reason is the global financial crisis 10 years. it's hard work shop and downed trees cutting off the lower branches and preparing them for sale but larry smith likes his job and he has no plans to retire. but i hope they found me. and that's the way i really want to go. smith has been the christmas tree grohl 40 years histories have graced homes throughout his home state of north carolina and even the white house last year one of his trees was selected to be the focal point of the blue room his biggest seller the locally grown frazier fir

benefits as part of its membership in the w t o and yet the world trade organization is under intense pressure especially from the u.s. as it leans a trade war against china a trade war that became the biggest business story of 2019 but certainly not the only business story take a look will they or won't they the u.s. and china have been at it throughout the year and in may trump announced that washington would raise previous terrorists where having a little wobble with china because they've been treated very fairly for many many decades are actually a long china retaliated with its own threat and in the summer a truce was announced in the g 20 summit in osaka but the u.s. reneged on that tensions eased earlier this month u.s. president trump tweeted that a very large phase one deal had been reached with china with beijing agreeing to buy a range of american goods as a result washington suspended penalty tariffs set for december 15th something beijing confirmed that 2 countries now say they are preparing to sign an agreement next month. one of the sticking points between washington an

a global trade emergency the biggest prices of the history of the world trade organization b w t o's arbitration system collapses in disarray after u.s. pressure falls i'll talk course also on the program while the field gets president there to collect his nobel peace prize and.

goods the move was in retaliation to a world trade organization ruling that find that the e.u. had been illegally subsidizing aviation giant airbus among the product affected is scottish with a signal that is if i told many american tourists visiting scotland the whisky tasting is the quintessential experience for scottish distilleries the us is a lucrative market accounting for more than 10 percent of global export volumes for them the tariffs couldn't have come at a worse time. we had agreed in principle to go into $23.00 states and $200.00 stores across those states with a large retailer in the u.s. and 12 hours later we woke up to a 25 percent tariff on single malt whiskey so that has part i think huge clouds over our discussions on our plans to launch in the u.s. the scottish whisky association says the impact can be estimated based on what's happened to american bourbon whiskey imports to europe what we're expecting is around a 20 percent drop in the sales of single malts in the u.s. you know we have the example of of u.s. whiskey being shipped to europe which has been un

trade organization bodies leadership trying to stay.

we've been winning a lot of cases at the world trade organization. rarely did we win a case. they took advantage of the united states. if france puts a tax on our companies. these are companies that were against me, if i read the papers correctly. i don't know why they were against me. but they were against me. they are supposed to be powerful. and yet, i won. maybe they are not so powerful. but they're american companies. if they're going to be taxed, it will be the united states will tax them. okay? >> why are you staying out of the british election, sir? >> i don't want to complicate it. i have won a lot of elections for a lot of people. if you look over the last few months, two elections in north carolina, i won. i helped the governor of kentucky. the press doesn't write it. they went up 17, 18, 19 points. i lifted him 19 points. in louisiana, i got them into a runoff. john edwards almost won. he won by less than a point. with the exception of those two races, where i had a huge impact, because i raised them up almost to victory and they had no chance, i've won virtually