u.s. negotiators start trade talks in china yet again but few hope things will really change can the world's top two economies find a way out of their trade war and calm down financial markets. and the makers of scotch whisky fear breck's it will hurt their global business i'll tell you why export barriers are not the only thing producers are worried about. it's time for business on the w m how you know gas welcome to the program as china and the u.s. resume trade talks both powers are using very positive rhetoric china says it's willing to work together with the u.s. to resolve the months long dispute between the two countries the foreign ministry expressed optimism as talks resumed in beijing and the meeting is the first since u.s. president donald trump and his chinese counterpart she agreed to a ninety day truce in their trade war last month. the u.s. and chinese representatives will need one key quality staying power these trade

negotiations are set to be long and difficult nonetheless there's real hope that the trade conflict may finally be brought to an end china has already opted to ease tensions by lifting its ban on imports of u.s. only beings and suspending extra tariffs on american cars business leaders are expressing cautious optimism we're seeing an acceleration of many of the policy is that china is committed to implementing to fall within this ninety day negotiating period indicating that it is making signals to show that there is opportunity for progress here. with tumbling markets pressure from agriculture and from industry the conflict is clearly making itself felt in the u.s. the latest example being apple's revised outlook over falling sales. week we've been convinced since the beginning that friction between china and the u.s.

is not a good situation for either country or indeed for the world economy as a whole china has confidence on the basis of mutual respect and equality that it will be possible to resolve the bilateral trade dispute. or whatever it is all. china is suffering to as a result of the conflict higher import prices and reduced exports weakening economic growth both sides are feeling the pressure. world bank president jim yong kim will step down at months and more than three years before his term is set to expire or his resignation allows u.s. president donald trump to further shape the development lender as the u.s. traditionally picks the head of the world bank that could lead to confrontation with other shareholder nations who have been critical of the u.s. role kim says he's joining an as of yet unnamed firm that invests in developing countries he said judge of other world bank c.e.o.'s will serve as interim

president and my good friend secretary. let's discuss all of this with our financial correspondent at the new york stock exchange was the result of who's joining us now has the results good to see you i'd like to start with the trade talks between china and the u.s. who said we as we know the stakes are high optimism is not really there what about the optimism in the markets do they see hopes that will actually reach a deal there. it seems so javier but it's still early to tell her now yes i did fight that if you are talking seems to be curing investors about we must be cautious a big goal right now from the drums administration perspective to warrick on the details and specifics of the different pledges made by gene so far these include more chinese purchases of u.s. goods and services increased american access to china's markets better protection of us our intellectual property and reduction in subsidies companies but also there

is another issue lingering and that is how to enforce any kind of deal china's them said to be willing to put in place a monitoring process but there is also a lack of trust component which could fire so was for now we must wait and see since the u.s. tensions among the u.s. and china go forward on all the trade and any misstep you will any of them in really quick. on the resignation of the president the world bank how do investors see it is a good news or bad news for the world economy. it will definitely be interesting how they are sent a strong administration has criticized the world bank for lending in china to monitor and for compensation packages that are too high but also do us a treasury which controls around sixty percent of the organization's voting shirts will probably endure a great opposition to the tradition of the u.s. speaking who will leave their walled bank while you were up to this the i.m.f. managing director times are changing. at the new york stock exchange thank you very

much for the analysis. on a corporate no tesla reached a milestone today as it broke round on its first overseas production line in you guessed it china shanghai the new gigafactory will allow it to sell directly into a coveted market and steer clear of the china u.s. trade dispute we talked about tesla says it's also exempt from the requirement that foreign companies form joint ventures with local firms. seven point three billion dollars that's how much tesla is investing in its new china factory it would be shanghai's biggest foreign manufacturing project ever and it's a coup for tesla many foreign carmakers export into china and pay tarots which is trickier these days with the trade dispute tesla also believes china is the perfect market it's very important that the world transition to sustainable transport and sustainable energy generation so solar about for storage and look vehicles and

china has been it will be eager in that transition. so we look forward to helping hoping that transition along with other car companies in china. tesla needs the good news to two thousand and eighteen was a difficult year with a regulator crackdown questions over leadership and missed production goals. britain's impending exit from the e.u.'s hurting carmakers leading to the biggest fall in u.k. choragus ration since the financial crisis uncertainty is causing a drop in consumer confidence and demand for vehicles also dropped nearly seven percent last year experts warned that could put the auto industry at risk which employs over eight hundred fifty thousand people sales of diesel cars fell even further after the emissions scandal. to mexico now where fuel theft is a major economic problem along with violent criminal gangs now the country's new president and there's been well look i saw it a lot has vowed to solve the problem but his first step by doing so is creating

a whole new mess for the country. long lines at fuel stations drivers waiting patiently but without much hope most gas stations in mexico have run out of fuel since the government shut down a major pipeline and started delivering gas by tanker trucks only. love one of the first saw her truth assess really bad because we already went to several gas stations and we didn't find gasoline it's been three days already yes there's all this us that are it's a disaster it's a disaster everywhere and i've been to two gas stations already and they don't have any fuel look at this wells can they go. on. for years criminals have tapped into pipelines stealing millions of leaders of fuel and depriving the state run oil monopoly pemex of over seven billion dollars in revenue

that's according to government estimates. this is not the petty theft we're talking about major robbery one thousand attacks on the pipeline per day and fifteen thousand liters stolen each time. how do they distribute all that stolen gasoline. well there was an attitude of total complicity. of pemex. violent criminal gangs half long relied on fuel theft to supplement their income but says the government accomplices within the industry also seem to be a major part of the problem. before we go the still unresolved terms of the u.k.'s

departure from the european union is also troubling makers off scotch whisky their unique craft has grown into a profitable global business twenty seventeen whiskey sales abroad amounted to five billion euros accounting for more than twenty percent of all british food exports but distillers fear leaving the bloc will rob them of the protective trademark scotch has within the e.u. . imagine a scottish whisky distillery and it would probably look something like this edra dollar distillery in the town of pitt luxury in the highlands and symington has made this business what it is today a small but fine distillery and one of the few in scotland which is independently owned and who is master of the quite a select group of top distillers his traditional production methods are a good selling point but there's more to it than that. i'm here to thirty and so on my job is to. certainly. if not leave as i find it

even best of the world if i do it for the next generation. and the attention to detail pays off edra dollars profits before taxes climbed by four percent to seven point six million euros last year the distillery produces around two hundred thousand liters of whisky a year that's not that much compared to the big names in the industry but scotch is in demand around the world. our exports is about eighty five percent of our turnover consult about forty two countries around the world europe mainly is the as is a big market for us you know over a grove is a very key likes as to who things go smoothly in the brits that do in fact rex it is worrying the scottish whisky industry scotch is still a trademark protected under law however some distillers feel they will lose the protected trademark scotch has within the e.u. . that's all for business thank you very much for watching remember you can always

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