of the brazilian amazon sienna, monique, people, the far as the planet ecosystem, with a counter offensive is underway, as the tribal chiefs had to your gold cloud, the corridors of power not to seek help, but the demand, the world heed the warnings of its indigenous people. holding up the sky, a witness documentary on the jersey to the head of them and their gonna put on. and this is counting the cost on algebra you. we can look at the world of business and economics this week, gemini, is re engage in with china and trade despite the east flexing his muscles for staging. so why consul in breakup with the asian giants?

and from free full to rebound in nigeria, the novel valley is off to economic performs spots my jillions of band running to sky high installation. the world is nowhere near which even be sustainable development goals. by 2013, we speak to the president of the un general assembly about his call to action. china is germany's biggest trade partner bought. berlin also sees of aging as a competitor and a rival at a 1st ever strategy on china launch last year. in touch to reduce dependence on the chinese market, but during his visit last week to china, the german chancellor signalled his intentions to maintain business ties that may have and get some of all that shows those closest allies. the e. u has not several investigations into exports of chinese going technology to protect your pin industry from what it sees as i'm fed comp petition. dmitri meza

dancler reports on what's at stake for schultz 3 days in china for chancellor william schulz and his entourage of top chief executives from leading german companies. that's despite the german government announced strategy to reduce risk of becoming too dependent on china senior lighting bar, which is shown shit, fucking china in germany of the 2nd and 3rd largest economies in the world and the significance of consolidating and developing sino gem and relations transcends the scope of bilateral relations, it has an important impact on the erosion continent and even the entire world. china is germany's number one trading partner giant german. i'm such as volkswagen have been actively expanding the business that for thousands of years. but many of the companies have said they feel disadvantaged or even discriminated against, accusing china of protecting its own companies with massive subsidies and some

protest involved as a this is a key issue all over the world. many countries do that, especially when it comes to renewable energy use in advance to let some ability technologies. and that's why it's important that we establish processes here to ensure that we move away from the practices where everyone asked simply, according to their own ideas. that's one of the reasons the e u has launched several investigations into cheapo chinese goods flooding the market, including electric vehicles. german comic is via these investigations could lead to a damaging trade war, july and the name the one with the on the primary goal with the business must be to make profits. the chinese market contributes 2 thirds of global electric vehicle sales. so the chinese market is indispensable to gym and call companies, and they will say bill patronize the through germany's chinese partners see schultz has visits as a positive sign. i think the message is very clear. a jeremy and want to continue.

corporation with china continued to grow business in china that continue to expand some of the areas currently, maybe not enough cooperation will not be enough german business presidency in china such as i, we college of fluid around 120, over the years old. china relied on gemini, i'm the you for tech inputs, but now it's technologically self sufficient. in the event of a major spots with the world's 2nd largest economy, germany's could be seriously damaged. some experts say gym and g d p could shrink by 5 percent. the same amount as during the cobit crisis to meet them, it didn't go out to 0 for counting the cost of a more on this let spring. and i guess joining us from milan, italy is danielle gross. he's the director of the institute for european policy making at book one of university and an advisor to the european parliament. and

from cigna pool is shay gong. she's an assistant professor in the china program at 9 yang technological university. a very well welcome to both of you, mr. goes, i'll start with you in milan. why has all of that shots gone from pledging to scale back to him? and he was reliance on china when he took office to you know, what he was saying when he was in china calling for equal access to china as markets for foreign funds. i think one of the phones wanted to see reality. and the reality is, german fans do own business in china. they complain because they might be doing even better business. but the chinese market is very important to them all as a production the venue. but also because i'm trying to use competitors. and now if you're the, the company has perhaps a different opinion. the dean would like trying to play investment ball rolling on

the drum and economy. but the reality is different. and china is just one of the biggest markets in the world. and gen companies and not they're going to be there. and that's the, that's the relative to the fines and that serenity. yes. website. okay. uh, most gone. do you agree with miss to close that essentially, the economic relationship between this well 2nd and 3rd largest economy work from political calculations here? well, we have to be aware that definitely, you know, we can all make and business interest. you know, just driving shots, visit china, because as you know, the leaders, she wants to see what is really happening, right? because the baby's trying to, you know, plays the trombone fancy build some level of market reforms. you know, like reduce negative list. what if the eyes that may be really beneficial, but for the german companies or even for the european companies. but we need to

understand the context of china, your religious have to be a lot of things, but to you in the is about the growing competition is a consensus amount, whether you members and the visit actually came after the launch, the, the rescue strategy reduce. they come to pendleton china, right. and we have seen her so many stories and complaints about the i've been practiced at the chinese market. you know, the chinese government has the advantage, mark you right through the subsidies also through the federal fiscal or in, in financial, you know, support. but they are the 2nd little want to highlight is actually, is the structural differences in handling with russia, where i've been during the visit, the shot to the extreme point out that no german german is very concerned about china's engagement with russia and some of the engagement can actually, you know, um the voltage provide at most to rush items you did, you are usage of the assistance that china provided, right. and, and,

but also china condemned to use the ashes on russia, which also affect the chinese companies along the way. i want to highlight, you know, that i don't really think on a matter of things, good change because the visiting cuz the 2 sides have really felt better idea. always divide on how to feel inc, dash holder. so these differences will continue to, besides, you be called straight and she mentioned breakthroughs in the bilateral relationship. ok, there's lots to pick up on the i want to go back to daniel goes with the 1st thing that you talked about, which is the context of this business taking place. something was already mentioned that you are paying union is, is investigation china, you know, for what it cools. it's all the capacity. it's, it's dumping practices. mr. goes with jobs. the german chancellor. stand on this. does he suppose that you are paid invest? the investigations will not the right thing. there is some difference of opinion among and your re batteries on the machine is doing right now. and because the

german automobile producers are doing a very important business in china and german automobile, that's also not feud. strengthened by time, easy months and therefore many to be made your own savings that this investigation of the commission was more french interests and german names. but to germany, it's across the country in europe, and you'll read you again, but it cannot always dictate what's, what's being done. and i think that is the difference between the level and the collection that okay, particularly i don't really know what to use like to reduce our reliance on china. the economic vanity is different. and i think this tension between politics and the economics is the bank problem. this is and this tension been continuing for a long time. okay. and as you mentioned, mr. gloss, you know,

we have the ceo of necessities of b and w just to name a few talking about how they don't see competition from china. they see opportunities in china, miss gong, which feels do you see it growing and, and, and how important is that to china? you know, to show that it can do really good business and trade, whether you appear in country, in the backdrop of these tensions with the european union. you are the well, the key areas that both buyers will be really, you know, happy to work always the great energy. right, is, but we won't really, it's definitely because of russian where you're suffering from this adage, crises throughout the years. and then it can use that china is gaining the voltages and also can, you know, some how can you know, a company met with the village, a building in euro. and the thing is that i think the 2 sides, they actually know things about the 3rd party collaboration, which so many used to be part of it in the back to really the shape of it doesn't

have to be brand new, but they're really new shaking. but they can call, you know, they can think of the type of plan that they're marketing that's, that's the southeast asia, let's say, you know, indonesia, we are trying to get capitalized on jo minutes, get biology, and also the good image in terms of building the great technology yup, i'm glad you both have certain markets because i want to bring daniel growth in here on a fascinating article that you wrote about frayed restrictions and about how, you know trade restrictions such as tower of such as the ones that we saw. donald trump put on china don't actually reduce the amount of trade, they just redirect it. and that is exactly what the old serving ran. the us does not allow involved cost for example, problem china. then the, the, your being, the, produces a, have a good amount paid for themselves in the united states, and then showing the export more to your. so then you have the same thing also in

asia where and the chinese change their immediate what's to my asia. and then my laser puts things together and chip small phones, then go to the us. so this by natural tree, these by natural trade wrench, investigations, bits in the us and china backs into the benefit, all of us life, my age, and i get now, but also like you and the website, i'd say, euro doesn't really have to take a stance on this particular issue and can just uh, the website and the more reasonable and certainly more reasonable than united states. okay. just lost the missed call and let me pull this to you with the us selection coming up lisa. this. yeah. how do you think china and the you and germany, how they look and get their relationship in life of might be coming out of the us later this year. oh, i think there are a lot of a lot of things are going on, but why don't these very unclear in terms of how we perceive china, you know,

whether it's a market economy rate, that's something that china wants to be recognized throughout the years, especially from the european culture parts, but with the fundamentals you 1st, you spend, imagine previously, you know, about i, the article, divide about, you know, how to play the much the role and also about the, you know, the perceptions of russia. i don't thing that, you know, the 2 sides will be, will be still continue to bramble width of issues that were in front of them. but up there. but as you know, german has that a very good example in terms of how to, you know, stretch out despite the, you know, constrain space, how to keep the conversation open and how to, you know, make you try to understand the causes and try to work these out is something that i think the regional, but this should have a close eye on should go on and so in a pull and daniel gross and milan, italy, thank you voice very much for your time. thank you.

the nigeria as africa's largest oil producer, yet the nation's economy, is in crisis. inflation is rocketing. foreign exchange is in short supply and corporate giants leaving the country. 40 percent of nigeria as population now lives in poverty, president bullet to know who took off his loss to has moved or the whole the economy and attract investment. but all his meshes working, we get to enter that with, i guess shortly. but 1st, let's have a look at what's being done to turn things around when to be assumed power loss may nigeria was spending almost all of its revenues on service in debt, or which nation had barely any money to pay for anything else. so his 1st measure was to scrap poppy to fuel subsidies that will cost to the country around $10000000000.00 a year. the president has also loosened controls over the currency in a bit to unify the official and unofficial exchange rates. as you can see here, the nora was the valued in june, and in february it had last,

almost 70 percent of its value by march. but now the myra has been labeled the best performing currency in the world after a strong rebounded march and april. it's back below $1200.00 to the dollar off the central bank increased interest rates to almost 25 percent, making it more attractive to keep savings in the niagara. these reforms have been very taxing somebody's uva, as population. inflation is at the highest level in almost 3 decades. the price of rise has doubled in the past due. well, petro price jump, $3.00 falls, and all this is putting pressure on to boost government to prove the reforms will eventually end the economic pain. let's get stuck into this with gospel or ben a. he's an economist, the straightened all next steps and nigerian think tank. thank you for your time mr . obey so the nava is rebounding but the current country is bending to the foreign exchange reserves at a rate not seen and for years can you explain the connection and if it's

a concern ah yes that's to say that there was a software issue that's a gaming because for the generation enough for an extend receipts of what you like on, all right, i'm explaining if that's the case may be as a result there is a constraint around how much of the supply. ready it was and i turn economy to be, which means it's consistent being created. so verizon, you know, looks like the fund for the exchange. and that's really been to chatting for a long time. and again, we're not so much of a bank douglas, much of the production nation in general, cloud productions got to be as an export, the capabilities to, to reach the most, probably next january 6. so that supply gap is why you also the private sector bank trying to results to each resides to fund most of the some should i say short term based reforms from see more recently. yeah, i'm glad you said are you, you're quoting them short to reforms. if you look at, you know, we keep saying that my gerry is africa's largest oil producer. yeah. that actually

imports most of the petrol that it uses as the country looking at longer to resolutions to the long standing economic problems. yes, the country is, but i think it's a case of number one. there's a growth under estimation of the f one, investments behavioral and cultural change that needs to happen. image instead of the country, the most affordable part of progress about strategy. also given the fact that there was a weekly decal window in context, although what recently the content restriction made by the crap example i'm actually russian. somebody took me to more political will. but again, for the sufficient be the best of the level of change. ok to wrestle prospect that before how. what are the, what are the behavior and the cultural changes that you think need to happen? you know, nigeria has been beset with corruption for example, for so many years as well. what do you mean? you'll be able to change my own context would be leaving from, you know, from

a candle tree kind of approach, right back from baby reflected by the, some national and local levels, uninsured. that reforms i refreshing of what the people need appointment time and how much will she's also lead to see if the percent of those reports probably be drilled. this policy progress, take photos of the cost drug stop progress. was it necessary condition to be able to select the leave of relief points for the insurance recently, strategically such as expect to log slide dimensions, those sort of piled key sites of the local economy. and also inquiry among all set up with those set to image settings, to setup for you to expect. you know, there's so many men join to be the export ready. but if you don't have the product that's will access the market, it'll probably teach to to, to do more. we do than across the board. this calculate the ba contracting bureau changes like around each additional support the dimensions of logic. yeah, i was just going to say as a, how do you enable that? you know that financial support,

that investment and what role the foreign investment have to play? i mean fall and capital has really fled nigeria in the past few months. yes, it is quite disheartening. i just would like to a link to the for, you know, a business environment to logics that we'll see many of the major african nations rather what's attractive or the best needs of the case may be. so we need just for support. i was wondering, do i meet with these folks? so charlie and these are, i just structure each pile like the shuttle. but to any security, you know, on all of that, i don't have the ease of doing business, you know, a contract regulations, but to make some of these things and even the business environment itself. all right, so that needs to be 6 long rice fixed with a very strong coordinates you. uh uh, so part of the matter, of course, if you could, if you splendid what it should be, it's going to be a lot more easier for us to sign up for you to find a possibly to what specifically to probably give you as long as i can strengthen the local crazy for local businesses. okay. and what about the local people?

do you see that the changes that have been made will in fact benefits nigerians themselves. i don't think the changes will really benefit and then get into the short term. and that's because there was a degree cost of reading prices and the argument john is going for a for a close, low cost of confidence reaching. and the most us, in the case where prices of goods and fixes, i'm going to should be coming down even if we succeed. i'm felicia, the cost of living prices like between the reducing to the corporate induction and consumption that he makes the right now look believe in general. right? so what we now need is really freaking the sector all each. eventually, that must happen in the different blocks of sectors that have the capacity to reach then john, people from just poverty, open the global public, you know, to more sustainable tax when it comes with a prosperity just keeps the b. so for me, tomorrow i'll drive the sexual landscape and flight divisions that kind of law postpone the other piece. on a scale of treatment, julian's needed the most to the full viable. it's also good type of need to be

stopping it before the cost of the prices on affecting things. and of course that has an impact on africa, doesn't take given nigeria is the most walk through this country largest economy. yes, it does have an impact with africa to very large extent for me will be that we need to evolve, you know, nickel stations on composition, central value. i was invited to be to the table. most of the chinese was finding a job. i'm very confident he made it after 10 countries quite to be to shoot quite over the phone security. the cartridge exceptional behavior likes onto those are those of structural and tional reform. we may not be able to bring the necessary group on development africa beach, particularly each other that goes on developing to be owned upon the advocates. a conflict for the participating tea that's drawn, you know, really needs to be taught to look new levels of sustainable development. the gospel of a, of the nigerians think tank straightened all next. thank you so much for your insights

on this. we really appreciate it. thank you. very much finding me by 21st, the world will see it 1st, truly in a while, more than half a 1000000000 people will remain poor. eradicating poverty is one of the 17 sustainable development goals. so s t g used to be met by that year, which is 6 years to go many nations of tract to achieving the s p. jeez, the president of the un general assembly has launch the 1st sustainability weak. gabriel alexander has spoken to dennis francis at the high level discussions last week. he started by asking him, what's the importance of the initiative? the sustainable development agenda on which we involved, we being the united nations in 2015 has not matured with the expectation that we had progress to achieve the sustainable development

goals for a number of reasons. beyond the control of any individual country has slowed considerably. and so the goal was in fact, off track. so we needed to stop for a moment. takes talk of what's happening and to re focus and re engineer our efforts. so as to bring things back on track because we are midway through to the sustainable development. the timeframe which is 2030. let's talk about a few of the themes that have been discussed this week. and a number really struck me. it was $225.00 trillion dollars in global public debt. yeah, there's a debt crisis. you've said. how is this sustainable for the world to maintain

so much debt? well, let's understand what that $225.00 trillion dollars represents. that represents the current stock of global debt. that is, or the countries in the world, the debt that is owed by developing countries would be a proportion of that. that's no i, i don't have that number in my head, but i can say to you without fear of contradict contradiction that for developing countries, countries in the global house, that number is also a huge number. and the thing with the debt is that it has to be repaid. what has happened in the case of the bill but south is that there is an extraordinary overhang of debt. and so countries developing countries and in particular,

countries in special situations, the most vulnerable ones, the long dropped countries, the least developed countries on the small island developing states are forced to make choices between repeating the interest on the debt the interest, not the principal, just the interest of the interest on the debt they have to choose between paying the interest or using that money. instead. defendants sustainable development to pay for schools to pay for medical facilities, adults centers, etc. it's a very difficult choice. so uh, what needs to happen, what the, when has been advocating and others is that there needs to be a reform of the international financial architecture to usher in

a new period. which will allow countries in desperate circumstances, particularly the most vulnerable ones, to be able to borrow on less burden, some tunes that means ok, more affordable rates of interest. because as it stands at the moment, many developing countries are forced to borrow at 3 and 4 times the rates of interest that the average developed country borrows that. and at the end of this week, what is the call for action? choose sustainability. choose sustainability. because in choosing sustainability, you will actually be making a plug for the long devotee of a species on this planet is the natural environment that creates the assets that we

use to live on this planet successfully. and we have been successful, but not without creating unnecessary damage, a know the science of store to us. but we do not have to create damage. we can live sustainably. we can use resources in through all consumption buttons, most sensibly small to in order to minimize our footprint on the planet. and that is uh, shows that this way you can get in touch with us on x, formerly known as theresa on at let's put on them and do use the hash tag a j c to see when you do will drop us an email counting the cost at elda 0 dot net, is our address. and as more for you online as onto 0 dot com slash ctc, that'll take you straight to our page with our individual report links and tot episode soon as we catch up on that set for this edition of counting the cost. and

this would put on them from the whole team. thank you for joining us. the news on algebra is meant reporting. so the options to have you have a great winning hearing the facts, palestinian or airbag content has been removed or restricted understanding the reality for these demonstrators, it president must be solved, reckoning the stability of the country. i'll just say it was teens across the world . when you click sensitive the fonts at the store competed beyond well taken without hesitation. fulton died from power defines how well we live here. we make the rule, not them. they find an enemy, and then they try and scare the people with that. and the people in power

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