stock markets around the well take a hit so after u.s. president dollar trump told his own federal reserve crazy for raising interest rates. that story and more coming up adventism stay with the news i think that. the. earth. home tunes of species a home worth saving. here which is on those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world like to use the term the climate used to green energy solutions

and reforestation. they create interactive content teaching the next generation about environmental protection and we're determined to build something here for the next generation of global ideas the multimedia environment series on g.w. . hold onto your seat global stocks slump is this the next crisis european economies also retreat asia sees the worst losses in years. and who's in the driver's seat now b.m.w. takes a majority stake in its joint venture in china the first to do so. i've been fizzling let's do business investors are panicking wall street had its worst session in a long time last night

a trade war and interest rate hikes have everyone on edge including u.s. president donald trump this called the federal reserve crazy for raising rates. market turmoil on wall street followed by a massive slump in asia investors around the world are feeling the heat one issue weighing on their minds whether the u.s. fed is going to raise interest rates again it's already done so three times this year it's a measure of central banks take to put the brakes on a robust economy markets don't always like it because it makes it more expensive to borrow money. another person who doesn't like it u.s. president donald trump here's what he had to say about the fed on his way to a company in rally. hard to read that. make it everything is so tight i think the fed is going great. trumps comments come as the international monetary fund and the world bank hold their annual meeting in

indonesia so the mood there has been pretty bleak not only have the institutions lowered their forecast for global growth they've also released a report that says the world's financial system is at risk i.m.f. chief christine lagarde even made a veiled reference to trump's remarks by defending central banks. it's clearly. the necessary development for those economies that are now showing. much improved growth. inflation that is picking up the falling into the range or reaching the threshold unemployment that of extremely low it's inevitable that. central banks make the decisions that. they clash in ideals between the head of the international monetary fund the us president warnings that the global economy is slowing down and becoming unstable not to mention

a continuing trade war between the us and china against this backdrop investor jitters are likely to enjoy or. there are clouds on the horizon for europe's leading economy germany slashing its growth forecast for this year and next to one point eight percent coming minister peter myers cites a weaker international trade environment as one reason that economic expansion for this year now stands at huff a percent lower than before half a year ago when was expecting growth of two point three percent this year. so a growth downgrade and folding world stocks as you heard but german investors faced as of is let's bring in blues and show he's got an explanation for us conrad falls on european exchanges any bigger. you know. investors mostly sold shares during that selloff which had been strong performers so far this year

american stocks in general but in particular american tech stocks so in a way the fact that german shares so far this year have been lagging behind has protect them a little bit from too strong selloff and something else is playing into this you know we are right about to start the third quarter earnings season many german companies have already come out with profit warnings due to expected negative effects from this america china trade spat the tariffs etc in america expectations by companies are still much higher a lot of the risk of this trade spat has not been price didn't get so the potential for negative surprises during the next few weeks when american companies present their earnings more likely. it sounds like you're putting this global slump down to the bursting of the tech bubble basically. you certain that

this is not the beginning of the next crisis. i mean you know the markets are navigating in uncharted territory given that you know precedent and monetary policies have been pushing those markets for so many years of course i'm not certain but if you talk to people here of the trading floors of authority of analysts are convinced that we're not facing a huge prolonged selloff because basically despite all the nervousness and it's uncertainty. the underlying fundamentals are strong there's no reason for a big panic or bulls and don't panic there for us in frank thank you. bit by bit china continues to pry open its economy to outside is b.m.w. the first to take a majority stake in its joint venture that letting go of the steering wheel is a big thing for the chinese but the german comic is investing three billion euros

in factories there. times are changing in china for the first time a foreign carmaker has been allowed to acquire a majority stake in a joint venture b.m.w. now holds a seventy five percent stake previously foreign firms weren't allowed to own more than fifty percent of the step is supposed to show the world that china is opening up critics say it's a promising start but china will also benefit from the arrangement that's why chinese premier league the channel met in person with b.m.w.'s boss howard cougar on wednesday krueger announced that b.m.w. would be investing three billion euros in building new factories in china over the next three years that gives china jobs and security in the midst of the trade war with the united states the munich based cameco will also invest heavily in developing electric vehicles in china for a year now they've been building electric motors there and offers six models as

fully electric versions the chinese want to profit from this know how the chinese government has issued a new energy vehicle mandate which uses a system of credits to push automakers to increase the share of battery only and hybrid cars in their sales mix to cut down on smog combustion engine vehicles faced restricted driving days of course the restrictions don't apply to electric vehicles china wants to become the world leader in electric cars and they're happy to get outside help to achieve that. to france country which is lagging behind when it comes to renewable energy painfully long permit procedures of force the on shore when market into a deadlock on top of that people's resistance is growing against what they call big noisy and unsightly wind turbines. this wind farm developer

has high hopes for the french market he wants to launch dozens of additional projects like this one. from france especially there is reason everywhere and you can establish wind farms all across the country that's not possible in other countries such as germany but constructing new on shore wind farms isn't easy in france it can take up to eight years to obtain the necessary permits and that process is now facing further delays late last year a court decision declared parts of the permit in procedure void noise who support. the government should have taken care of this problem straight away it still hasn't pinned down the new purging process more losing so much time is very frustrating goal of becoming. the deadlock will delay the construction of wind farms that could replace five nuclear reactors by several years and the country needs these wind farms if it is to achieve its green power goals all the

more because other renewable energy sources are lagging even further behind economists and i kitty says economic and cultural reasons also play a role yeah says nk well south it nuclear represents three fourths of france's energy production that needs to decline to make room for new boats but shutting down reactors is very expensive and controversial including among the french public . they're committed to nuclear energy which is a fixed part of their world view concepts your view on the n.r.c. still the government is committed to winning the country away from nuclear power and clear i don't see that it's true that france has focused on nuclear energy for too long but we will change that and reduce the need to share to fifty percent we won't be able. to meet our initial deadline of twenty twenty five that would have

required to us to shut down up to twenty seven reactors by this forward so we've had to abandon that goal and come up with a new and more realistic target. do you. base the charts on this new plan have yet to be released but. still believes that better times lie ahead yeah. questioning need to energy is no longer to the french just slowly but surely recognizing that power is up to three times more expensive. but i think you might eventually produce all our energy from renewables you know your new. enough to mystic goal but that day is still a long way off right now renewable still cover only seventeen percent of france's electricity needs. these are the us reporting first there and i think business with you and just updating our headlines hold on to your seats global stocks slump european equities retreat asia sees the worst losses in years our correspondent in

frankfurt describes the reaction as the bursting of the tech bubble in the u.s. not the next crisis and b.m.w. the german can make it takes a majority stake in its joint venture in china the first to do so under new rules and that prying open the chinese economy to foreign investors have more news next hour i'll see you again very soon here and they don't need. to.

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