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true diversity. of the world of science is at home in many languages. on a lot of programming go and bury me show you can you tell us about our innovations magazine for any. of us from every week and always looking to the future d.w. dot com science and research for. storm clouds are gathering on the economic horizon of the european central bank of voids rocking the boat by doing nothing. else is a major overhaul on job cuts germany's biggest lender calls the restructuring painful voidable. also on the show. pollak rob all charitable investment in world

trade criticism is mounting over china's nine hundred billion dollar new silk road project. as this is d w w business the european central bank on thursday held interest rates at historic lows and left its massive stimulus unchanged that confirmed expectations the bank would play it safe as the eurozone outlook clouds over easy governance decide a regular policy meeting to leave the main in refinancing right at zero percent analysts say a gradual exit from monetary policy meant as damage control after the financial crisis would now be appropriate but bank account holders and pension funds would welcome the return of high interest rates borrowing costs are said to get high and it quickly changing backdrop of trade tensions and markopolos solidity is what is even chief maya druggie had to say while ago. following several quarter of

higher than expected growth in carrying information since our meeting in march points to or some moderation why remain consistent with solid road base expansion of the u.s. economy now let's bring in conrad business standing by in our frankfurt studio cannot no interest rate hike by the e.c.b. had been expected but it hasn't even been a hint when we can expect an end to quantity of easing the massive bond buying program how much of a disappointment is that to people where you are. well i am in frankfurt a place where many monetary policy hawks can be found and many of those people are disappointed today that maria druggy at his press conference said that the e.c.v. council hasn't even discussed to establish a road map for quantitative easing tapering which is you know

a cutback of this very generous monetary policy not even a roadmap in june so we don't know whether this will really end in september as planned at the moment we don't know whether it's going to preprogramed in terms of interest rates of course there was no major expectation today we could see it on the currency markets in the course of the recent week where the euro has lost about two u.s. cents in the course of one week because well the market is expecting interest rates to rise in the united states but to remain very low here in the eurozone. you can only days out of the germany when the eggs or the french business climate in days have gone a bit of a slowdown in the economy so it's my a druggie not wives to keep. well yes he's he's perfectly right to be cautious and he said so also at the press conference today where he addressed the trade disputes and the risk of you know escalating to

distrait disputes in the world he says that this has a negative impact on confidence and that this is a risk which has gained more prominence in recent times it's quite a good idea of the monetary policy makers here in the eurozone to really look at all the factors that have an impact on our economy let's not forget the european central bank is in uncharted territory with its monetary policy. it is a very crucial to find the right timing here come a business plan for thank you very much larger bank continues to disappoint but the new turnaround plan by a new c.e.o. living is giving investors hope it will involve deep cuts to biggest unit the corporate and investment banking division leading to job losses the bank calls painful but unavoidable will the plan plan work this time. it's

the end of an era for deutsche bank and saving the new head of germany's biggest lender is now saying less is more in contrast his predecessor john cry and strategy of thinking bake in a reversal of previous global expansion plans like a bank is scaling back its financing business and the u.s. and asia and cutting jobs at its flagship investment division as it shifts its concentration to european clients it did not say how many jobs would be cut or where while cry and managed to settle significant legal cases and cut costs he was not able to return the back to profitability under his leadership the bank reported losses three years in a row georgia bank share price played close to thirty percent over the last year reflecting investor dissatisfaction with prions turnaround strategy the poor showing also makes it the worst performer and the european banking sector saving

says there's no time to waste he hopes the changes will mean more income coming from divisions that are more predictable like retail banking and asset management the bank will try management layers and shrink the size of its executive board saving obviously hopes to succeed where crime couldn't but the year is already off to a dismissal start with an eighty percent slide in first quarter profits to one hundred twenty million euros. there are reports that the german government expects the european union's exemption from higher u.s. metal tariffs will not speak stand it when it expires on may first german chancellor angela merkel is scheduled to meet with u.s. president donald trump on friday to discuss the matter sources tell the w.'s brussels bureau that michael was not successful in swaying trump and that talks between the european and american delegations are not going well negotiators say that's mainly due to a lack of knowledge on the u.s. side trump announced higher due to steel and aluminum imports in march were granted

the e.u. and some other countries exemptions ending the outcome of new trade talks the us said it will apply counter measures. criticism is mounting of china's huge new silk road projects beijing is currently massively and investing in land routes to europe and then shipping routes to the west via africa it's planning a network of roads railways ports and airports as well as pipelines and power plants beijing is selling it as a win win for all involved committing some nine hundred billion u.s. dollars to the projects but critics say beyond being an investment in connecting asia and europe it's a geo political move to assert power and influence and although chinese politicians might say otherwise the world's biggest infrastructure campaign looks fine marilee designed to boost the chinese economy its construction steel and transport firms have built up huge overcapacity and crushing debt they receive urgently needed

business and people in country countries such as sri lanka and kenya taking to the streets in protest they fear they'll have to give up property and civil liberties where china is still does providing the masses with housing transportation energy and education it is not known for its commitment to protecting individual human rights so let's talk about this with marcus talbot he's a professor of east asian economic studies university and joins us now from munich mr talbot nine hundred billion that's not a small investment china is not known for its charity towards other countries what's your view what what goals are there behind this project. first of all i think there's a lot of wind when this thing i mean everything you've been saying is correct but this whole. better note initiative is not only just about transport corridor response about the creation of new industrial fabric an industrial fabric in an

area which has not being integrated into the global division of labor by either northern america europe or the or russia so this is empty space so to say in economic terms and the chinese initiative is providing an idea how to integrate these economies how to integrate these people into the global division of labor and i think that is a great chance for europe for european companies to engage china there and to bring this together with china to a success and of course the local economies if you're talking about europe that europe counter china's geo political ambitions then how could it do it well of course china does have geopolitical. ideas there and of course china wants to shape the world that means it wants to have a more active say in the design of institutions which are ruling global interaction therefore your of course must stand up to its own principles to its own norms and

fight with china over that actually right now seeing this over the issue of public corruption and that's that's a major problem a major descents between china and europe and you're going to see this issue to be fought over the next couple of years i guess a couple is that greece or kenya or big infrastructure projects will be built will they find themselves bounce to china. yes of course and he already see that that greece hungary and other economies become dependent on china and that china uses these countries true assert its own. positions recently the european union for example we have seen. greys and hungary voting against the other e.u. members in issues concerning china so this is going to happen next couple of years yes these countries become dependent. yes some say china is just desperate to do something useful with the surplus still and produce. some

work for its oversized industry is there something to that. actually i do not believe in that story we have seen since she has taken over power that these actions of over capacities for the very first time in twenty years really have created some impact so over capacities are slowly being reduced slowly. so i don't really believe that this is something that that the old war that the silk road movement would have really become export outlet for these over capacities. do you see any loses in that project. well the potentially largest might be united states because united states. all the time by now. that thank you very much for watching by.

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