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tv   Business - News  Deutsche Welle  October 19, 2018 3:15pm-3:31pm CEST

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you're welcome sation later said discuss what it calls the asia connectivity strategy but what does that mean. the back story in trade on the agenda coming right up and business with ben fizzling she. was a human read cataclysm. the first global disaster of the twentieth century. will want. to march to the hundredth anniversary of its end. what is humankind learned from the great
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one. as it learned anything over. nineteen eighteen not forgotten the w.'s november focus. at the. european teams up with asia to push full free trade a bullet pushed the u.s. even further away we talk to a democratic american governor who's on a trade mission to the e.u. about doing business under a republican president. and porto's problems with gentrification it attracts a vast as but it makes living expensive for locals. and let's do business expect more angry tweets sent terror threats united states says it's losing patience. with the european union on trade talks at the same time the german
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chancellor has issued a rallying call for free trade as a un asian leaders meet uniting in defiance of donald trump's america first approach but no matter how toxic transatlantic ties have become the u.s. remains the most attractive foreign market for europe half of all german companies now in the u.s. plan to boost their investment even more planned to hire new staff that's according to a recent survey from the german chambers of commerce america remains the largest economy in the world business is booming which is leading to more investment and more consumer spending. as promised the trump administration has been business friendly trumps tax legislation slashed corporate rates from thirty five to twenty one percent and he's cut regulations. that's good news for businesses focused on the u.s. market but for those producing for third countries things are more complicated the turbulent negotiations around the north american free trade agreement only recently
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concluded left north american supply chains in doubt the ongoing trade dispute with china is also hitting foreign companies european automakers are already facing chinese import tariffs on cars coming off their u.s. assembly lines so where does the balance lie for european businesses in the us net positive or negative that may depends on the company itself. new jersey's democratic governor phil thing is on a trade mission to the e.u. and managed to include us in his tour thanks very much for coming in to be your ben what is a governor from you josie doing on a trade mission to europe first of all thrilled to be here i'm a former u.s. ambassador to germany so it's a country i know and love there is already a strong blind economically between new jersey and germany about eight billion dollars of economic activity german companies employ twenty five thousand new jerseyans we think it could be a lot bigger and a lot more particularly in the innovation economy what's stopping it from becoming
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a lot more and a lot bigger but you've got to come over here and go face to face and ask for the order which is why we're here this week we're in berlin the homburg frankfurt dharm shot again a big emphasis on clean energy technology startup culture we think there's a lot of lot of growth opportunity but what you have to come on your own why don't you have a government that's representing you backing you making investments for for america in general so we've got a got a delegation with me but i think folks companies want to talk to the boss they want to know what you're going to do particularly in a time of volatility in washington and people question. getting the strength of the transatlantic bridge governors have never met or more so they want to see the governor eyeball to eyeball and say can you please give me comfort that your state's going to be the place for me to go isn't the bus trump. it will he is the big boss yes but i'm the new jersey boss. again there's a lot of volatility in washington the i'm a democrat i'm
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a proud democrat but i'm an american i think there's too much volatility right now how is that affecting business as you've been talking to i think the folks are sort of questioning what's going on with tariffs and trade policy and sanctions and should i be rethinking my advice to them is no i'm an optimist this too will pass it may be frustrating now but it will pass but maybe more importantly try to connect yourself with governors in with states who understand the transatlantic bridge i kiddingly more than kiddingly said all of the german companies i meet with there's no other governor in america who understands germany better than this one and so we're really excited the feedback has been outstanding that isn't trump making trade fair i mean he's going about it in a very strange way many would say but isn't he at the end of the day trying to make a level playing field you know he's not all wrong and i'll take china as an example that's benefited enormously from playing on an unlevel playing field he's right
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about that he's not right in my humble opinion his approach there's a way to do that there's a way not to do that there's been a robust discussion on nato defense spending burden sharing for many years well before donald trump was president that's an unknown discussion there's a way to handle that there's a way not to handle it i want to come over with an outreach to arm and hand and say new jersey is open for business we are the innovation state if you've got a technology life sciences cyber clean energy company big or small we want you to be in new jersey it will be worthwhile so would you say your president. it is more of a liability or a leader as it relates to the discussions that i'm having this week in we're headed to israel by the way tomorrow for similar mission it's added volatility added noise so i'd like to see that tamp down a little bit i think the mid-term elections are going to be very instructive if our party takes back one or both chambers and congress wins
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a bunch more governors i think the checks and balances system gets back into balance and we need that and you mentioned you've been meeting with startups what have they given to you that you could take away with you new joe's in full and as as far as the ranks go with investment and best is how can you get that back on track yes so we we in new jersey is i said have a warning innovation heritage but we've got big company focused at the expense of startups and incubators and so we're now driving directly in that we want the big companies to stay and more to come but we need to birth more companies urals are willing to focus seven billion to get amazones second headquarters or fifty thousand jobs five billion dollars of investment that's a once in a century opportunity but the discussions that we have more often than not are with small startups and i think the answer is this is a great week because we're signing memoranda of understanding we're convincing
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companies to open up offices and one of the big wind of players offshore wind players is going to open up a new jersey and we're listening as well as speaking about our story so we're learning we're seeing similarities and we're also here to say new jersey is a place you've got to consider both are going from germany's mistakes i mean this has been a very rough shifts to bring you a bull's a very pricey one and it's going to take a long time to get the energy vendor is a long time coming i know it hasn't been a smooth line but my my focus this week in the clean energy space has been exclusively an offshore wind germany's done that. well new jersey's poised to be the premier offshore wind center in america we've got a plan for thirty five hundred megawatts that a media company rush rushing after this to talk about they're coming in and actually making some components in new jersey so the offshore wind space huge opportunity for us and just one more quick question as far as attracting startups
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go a lot of that requies venture capital of the question you want the state to act as a venture capitalist what what experience does the state actually have of the state will pick stocks that would go to what i think is a dynamite idea to have an evergreen venture capital fund where we sell off tax credits to big companies and use the proceeds to invest side by side with professional venture capital firms the pros pick the investments the only criteria is that the investment has to be in new jersey we think that's a great opportunity you add to that a deeper engagement of higher education with princeton rutgers and others that we think is the cocktail for success but it's ok about tax credits that is in effect money that would otherwise go to taxpayers or at least benefit tax every state uses tax incentives of one form or another with with had a very risky business as well but listen we've used them to dole out to big
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companies and what we've got back over the past decade in wage growth job growth and poverty we rank forty second forty seventh the forty ninth in america with with bats are cities where we're big companies are going about startups in with startups ninety percent fail you but again you're talking about a win win win here ninety percent fail but the notion that that program is in place will attract an overwhelming amount of interest an overwhelming amount of young people otherwise might not stay in our state again you drop in academia in a in an aggressive way i promise you what they were not going to finish forty ninth based on that plan governor thank you very much for coming in today nice to see that. well it still looks clear what the conditions will be for britain's departure from the e.u. the lack of clarity is certainly not making life easier for french customs officials say that trucks are still able to travel in and out of the u.k. without hindrance but what will happen if import and export duties are put in place
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. you might suspect it's own mainly body failure but in comic con i just students to go see photos gentleman from fin phantom come take the last implication dove on the colleague will meet in and all schools put on him so i mean you want to make of the notes name for god many ideas and big pull modish contrarily it. really is the only about pluto by man it's st paul's an old buggered up by how time head at us i'm good listen i need god visits phone i told him what i buy went on mrs he actually on what how does god come to. life in the shift. when bad enough to exit me out. but this year by striking out quantity at the. recent you didn't you do don't trust your medicine so i mean wouldn't i know it most undoubtedly one of the hottest and strange to me just as that album me outside the string and gave no that's not standards even though it's was at the bottom to i'm doggett to cindy's what i mean for much else company for you but it's your own
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. and just briefly the e.u. when asian economies are looking towards closer cooperation global pot as folke lobel challenges is the fame of a summit currently underway in brussels ministers from china russia japan you see here prime minister shinzo abiola riving having made the trip to bring a phone support for multilateral cooperation the e.u. sees the meeting as an opportunity to present itself as a counterbalance to both the u.s. and china by offering asian countries alternatives when it comes to try to. last in business i think.
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what. you're all max. was right role on our show long hours this week on europe everything's different celebrities are calling the shots. today german gorm a shift tim brown was in charge. of. the room next w's.
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africa the lead. story of both the difference. being the nation. and the continental. multimedia series for every car. dot com or go on the mobile. how in the world come to this special edition of your max all this week we are out and about here and you're up to meet celebrities from different cultural fields and they're helping us to put together these special shows today autism is on the menu and all of that we especially guess is tim call one of the best.

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