second quarter u.s. economic growth comes in at over four percent driven by consumer spending and high exports that easiest to sustainable in the new era of trade conflicts also coming up should foreign powers be allowed to own critical infrastructure germany's government says no i'm blocks a chinese takeover of a company controlling the electricity grace. about chinese investment can child's food the whole country's we have a special report from cambodia. they say is your business update i'm having a home free but thanks for joining me well the numbers are in the know good very good in fact over the last quarter the u.s. economy grew at its false distrait in four years about positive news for the

world's largest economy but analysts say it's unlikely to be quite as positive as the white house makes it out. trump was quick to celebrate the new figures four point one percent growth from april to june we are on track to hit the highest annual average growth rate in over thirteen years and i will say this right now no serious strongly as the trade deals come in one by one we're going to go a lot higher than these numbers and these are great numbers truck claims the new quarterly rate is sustainable on the campaign trail he promised annual growth between four and even six percent for his war on obama era regulations was supposed to unshackle the economy his one point five trillion dollar tax cut supercharged the new growth but well economists expected a surge from the tax cut this quarter some even predicted five percent if you believe it is sustainable. for one the federal reserve concerned about inflation is

expected to raise interest rates several more times this year. businesses also don't appear to be investing heavily there were also one off events this quarter soybean exports shot up over terror concerns government spending rose in part due to the defense budget. and there are worrying signs housing sales continue to decline wage growth is still weak one thing is sure the u.s. economy is booming at the moment in the long term however question marks linger. let's go straight over to off financial correspondent ends quarter in new york cannes then went on to say in that press conference off to it had it achieved an economic turnaround of historic proportions that's how he put it is that the case is this growth reflecting an overall trend of global recovery we have seen some synchronized global growth in the past couple of months that

certainly did not hurt but most of the growth actually did come from u.s. consumers and then also the tax cuts at least for now certainly also pushed economic growth in the u.s. higher this growth story started in two thousand and nine so way before donald trump became the president of the united states so he can't put it all on his own shoulders but if we look that we are rather late in this growth story a growth rate of four point one percent in general is pretty impressive it is impressive that said the u.s. federal reserve is still got its full year growth out where it is holding steady at two point eight percent so is that seemingly mature pace of growth envisages i mean is actually sustainable. well i mean we certainly did see that this administration is giving all it has to push the growth higher but there is

clearly also quite a risk involved in this well donald trump grew up in luxury and probably still lives in luxury and he might not have heard the term safe when the times are good so that you can spend when the times are bad so if the economy shifts to the lower side the big question mark is so what can be done to actually prevent the u.s. economy from falling into a deeper recession but the recession is not on the horizon yet the growth forecasts for the third quarter for the fourth quarter assume looking pretty good so most of cobol call them is say that maybe in a year from now so that's when really things called to haunt us back specially also the tax cuts we see a huge debt load here in the united states but nobody really wants to hear that at this moment all right yes cause interests on a wall street thank you yes which has plunged nineteen percent

in friday trading that saw for the social networks at the number of monthly users was down by one million in the second quarter and it expects a further drop in the near future user numbers are declining as twitter intensifies at that suffice fake accounts as well as hate speech online search privacy rules in europe of those same a business harder twitter is the second major social media to report a decline in uses off of facebook became just a day off for the world's biggest social media media platform suffer the biggest ever one day loss in dollar value for a u.s. company. germany's government is intervening in the sale of critical infrastructure to chinese investments german state bank k f w u has agreed to take a twenty percent stake in high voltage energy network operator fifty hats fending off an offer from chinese state grapes now but instead it has a strong interest in protecting critical energy infrastructure from foreign

influence. control over the distribution of electricity it's important for millions network operator fifty hertz provides transmission in large parts of north and eastern germany including the capital berlin that's one reason why the federal government deemed a partial purchase of the utility by chinese investors problematic. on one hand we're naturally pleased that investors invest in germany and purchase businesses. on the other hand given how things have changed in the world we have to look at what business activities what areas are focal points for national security . because the investor in this case is a state run company trying to meanwhile shields its own market against competition from the west the german government has long pushed for equal rules for everyone. to sing suspiciously physical that's why it's right that we seek reciprocity to

dislike it we work towards similar rules of the game internationally and this is where these big investment plans are increasingly playing an important role but it's about german firms securing equal access to chinese markets and him so that others are critical of the involvement of the german state bank and global view and who could we risk taking ourselves out of the driver's seat to believe every investor with specific infrastructure in his portfolio will think well maybe a chinese firm she needs it in the federal government can spring in with the german state bank in the un with their pound of. government officials will debate the next case next week chinese investors are interested in a german technology firm. well china is cementing is position as a global economic superpower quite literally the country invests in infrastructure projects around the world especially in africa and asia and in cambodia chinese investment has totally transformed the once tranquil resort of. the south east asia correspondent bust and heartache filed this report like every day is preparing

his little khmer western restaurant for dinner time. and like every day he knows that he's unlikely to sell out all the delicacies he's putting on display sales for cambodian business owners like have slowed dramatically since the coastal town of sihanoukville has been overwhelmed by chinese tourists. they like their own food so . they come here but most most of them they go to chinese restaurants while his last sixty to seventy percent of his revenue some of the chinese own restaurants down the street are pursing at the seams. the main attraction for chinese tourists in sihanoukville the casinos. gambling is a favorite pastime for many chinese but it's illegal in mainland china here however casinos are springing up like mushrooms. alongside luxury apartment blocks at

prices ordinary composed ians could never afford. by any measure cambodia is a poor country but its economy is growing fast and largely that's due to the massive amount of chinese investment pouring in and much of that money goes into construction projects like the one you can see here by the end of last year chinese construction contracts in cambodia were worth some seventeen billion dollars and that's almost as much as the country's g.d.p. itself the influx of chinese money is a blessing for those who managed to land a job here they can earn two to three times as much as others feel. i'm rich now but at least i'm no longer poor. i used to not have any savings at all now i have somebody at home maybe one or two thousand dollars things have definitely improved compared to when we were poor. we have about it here but. others have

found work at one of the mostly chinese factories that have opened in the special economic zone close by what attracts investors here is the cheap labor but with demand for workers on the rise so are the wages i predict the next ten years. is about two hundred dollars two hundred thirty or two hundred fifty dollars so. it will be less competitive in the world market so the problem can go to how to change production stari so government how to do very hard work at that because most people they leave to school. a grade six grade a grade so that the problem of how to improve the value added because the but activity is a low cut for the moment the component economy is benefiting from china's investment push even if in c.

in oakville not everyone is happy about it thanks that's it for me and the business team haim ballin for more find us on twitter and facebook and before we go as a real time check on the global markets at this hour have a great weekend thanks for your company thank you.

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your view of the world. where i come from not over that clue to cisco it's just like this chinese food that's measure of where i am it's always reminds me of home after decades of living in germany chinese food is one of the things i miss the most but that taking a step back i see something a little of difference to me now and. then of good press as undergone a sense that exists as a part of the board haven't been after the men set in china that's new but i'm not a chinese people wondering if they're going to say that but if i have a ride to another that is this is their job a job that as a mom how i see it and at the same why i love my job because i tried to do it except it is an hour a day my name abounding to work and i work at it up you.