a drastic move or a desperate one argentina's president is slashing the number of government departments and half but will it be enough to stave off the economic crisis and stop the decline of the past also on the program china pledges another sixty billion dollars to african countries how sustainable are these investments and you want your kitchen to give you meal suggestions well come on down to the consumer electronics for. the latest appliances no the way to perfect growth. this is a business i'm christopher kohler welcome argentina's president hopes that sweeping measures will stop the country's economic crisis and he has announced that he is closing down half of all government departments in an effort to slash costs argentina is sitting on a mountain of debt the country is in freefall and a growing number of people is facing life in poverty. most argentinians are used to saving and now it's the government's turn the number of ministries is set to be

slashed by more than half but the president says there is still hope that it will. remain in these few months all the storms were unleashed at the same time in the city but that's no reason to lose hope we must make sure as a society and not continue living above our means nor continue living with corruption. going. but not everyone shares is up to ms i'm last week after president moderates your mockery announced that he was requesting earlier payouts from the i.m.f. bailout fund the peso continued its downward slide. argentina's problems are mounting fast a dramatic drought has decimated this year's harvest and the country's key export partner brazil is mired in a recession a strong dollar is siphoning off investors in the country's shaky peso compounding the problems. intervention by the country's central bank to shore up the pay so has proved powerless last week that bank hike the key lending rate to sixty percent and

expensive credit could now dash the hopes for a speedy recovery argentinians are already struggling with a thirty percent inflation rate. as african leaders are gathering beijing for the forum on china africa called gratian criticism of china's investments on the continent are getting louder concerns are growing and that by building costly infrastructure in african countries china is also saddling the partner countries with debt as these partners are financing the projects with chinese banks now that's likely to be one of the reasons why chinese president xi jinping has announced on monday that his country is to provide sixty billion dollars in financial support to africa with no strings attached. they're looking for more investment dollars and aid from china that's why so many african leaders have traveled to b.g. and its great hall of the people their expectations were met by promising remarks from china's leader. on. more than one point three billion chinese people and over

one point two billion african people have always pursued a shared future president xi jinping told his audience we respect africa love africa and support africa. you feed colds. and then the part that really matters. here which you don't march year old china is willing to provide governmental assistance offering another sixty billion dollars in financing for africa. and judge. of that fifteen billion is slated for grants and interest free credit lines according to she. beijing has invested in africa for years finding a source of urgently needed raw materials in return but with the continent's growing middle class china now views africa as an important market for chinese goods the value of its trade with china one hundred seventy billion u.s.

dollars far exceeding western trade with africa. we should be using proc forms such as folk to affirm our commitment to monte lexer lose a few and cons farm system of international trade and a global economic architecture that promotes the interest off the developing world . with the new folks summit china is moving further ahead of europe and the u.s. with its engagement in africa germany and other countries have recently begun to intensify their efforts on the continent yet a coordinated european approach remains out of sight now for more on the china african summit last spring indeed correspondent catherine on one though she joins me from the kenyan capital nairobi catherine sixty billion dollars allegedly no strings attached is this something that african leaders have been pushing for or is

a g g m ping's attempt to silence critics in the west. well it's financing that is obviously welcomed by african leaders and african countries but in the same breath during his speech president chinese president xi jinping did say that this investment will not go into vanity projects and that there should be some caution when dealing with with the projects going forward he also mentioned that poor african nations will be exempt from their interest free loan interest free loans that were due in two thousand and eighteen probably a show to see that you know giving a show that you know china does have africa's interest at heart and so trying to increase its foothold on the african continent mallalieu just prime minister warned against a new version of colonialism as he cancelled a series of chinese backed infrastructure projects in his country other similar views among african leaders. definitely not these are not

sentiments that echoed by african leaders in fact the african union chairman and president of the rwanda paul kagame has said that china is a friend and you have serial ramaphosa as the president of south africa's alluding to the fact that africa and china share the same vision but during this first day of the summit there was emphasis on transparency especially by the african union commission chairman with fuck you saying that there needs to be transparency with trade between the two parties and also we had a statement by the united nations secretary general and to a new terrorist who said that there has to be sustainable physical policies in order for africans or in order for both parties africa and china to see the benefits of this particular relationship you're speaking about sustainable policy here there is growing criticism that china's infrastructure projects are pushing african nations into debt how big of

a problem is this where you are in kenya for example. well it's interesting to see the standard gauge railway stood as one of the success stories during the day of the summit that was discussed today but then when you look at the boat on the ground kenya struggling with the s.g.r. project we're still paying for the first half of the project which cost about three point four billion dollars and it's we're not seeing any return even if even as the train is already operational and we still need more more load three point eight billion more to to build the second half of the project so kenyans are not really seeing a return on their investment in that particular project as much as it was hailed as one of the success stories in the forecast meeting there at the wider picture if you look at you know if you look at. the countries that actually can blame that debt on you know china is you looking at djibouti you're looking at democratic

republic of congo and you're looking at zambia that's you know a considerable chunk of the national debt to china catherine a model thank you. now imagine your alarm clock going off and turning on the lights or opening the curtains and brewing your coffee automation to make your morning less stressful for many of us it might be a vision of the future but at the international consumer electronics fair which is currently under way here in berlin the smart home has already arrived. even the cook can chill out and base kitchen camera checks what's in the fridge and projects recipe suggestions on to the countertop like how to make the perfect roast the stove opens automatically taking things from their. table keeps the chocolate brownies warm and gooey till it's time for dessert it's a kitchen that takes color mary worries away and even loads the dishwasher in the

future nearly everything will be connected to the internet through voice control the door the t.v. the lights and the oven. you know. experts believe it won't be long before four out of five household devices are online but small simple machines are starting to take on the world they even think ahead and able to spend time doing more pleasant activities and yet even if these all around us gradually become cheaper we're still be paying a high price for that on the one hand they make us depend on the take chinese like amazon microsoft and google that provide the networks that operate them and on the other hand on the technology it says and its ability to operate safely. but away from the flashy demonstrations this company is warning about the dark side of online everything with an experiment can

a hacker steal cryptocurrency through this internet connected lamp. the answer is yes the hard drive has hijacked the voice assistant and all the network devices under the hackers control giving consumers something new to worry about. today i don't see much of a reason economic reasons for companies to invest in security that is the device vendors because they basically get away with vulnerable devices they have been able to throw vulnerable devices to the market for many many years with no real problems and so i think something has to change in this regard we need better regulation it's a call for the government to step in to ensure that vacuum robots don't go rogue and show hackers the way to your hard drive first. and the rest of this edition of your business for more find us on facebook or follow us on twitter at w underscore benson's for now thanks for the company see you tomorrow.

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