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tv   Business  Deutsche Welle  March 8, 2019 4:02am-4:15am CET

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the counter offensive has begun china's huawei is suing the us government to stop its bad mouthing the company with western allies and to give the tech companies fair access to the american market for telecom equipment. also more money laundering accusations against some of europe's biggest lenders so is it time for the e.u. to regulate banks more tightly we'll talk to an advocate of just such a plan. alone welcome to to do business i'm stephen beardsley in berlin good to have you with us chinese tech giant chua ways suing the u.s. for banning use of the company's equipment always challenging a united states law that labels the company a security risk and would limit its access to the american market for telecom equipment it comes as the trade negotiations between the two countries are at a critical point for years while way has sought to reassure the world of two
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things that it is not under the control of the chinese government and that it doesn't spy on consumers. a shift in tone from defense to accusation a u.s. government. branded probably its right it has hacked into our service and just storing you mails and songs cold allegations of american government interference and theft of corporate secrets while ways message to the united states we can play the blame game too. hours before the announcement the backdrop to what's becoming an ever escalating dispute while waves chief financial officer among you leaving her house in canada for an appearance in course she's been detained in the country since december accused of helping her company violates u.s.
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sanctions on iran she claims the arrest violated her rights and is politically motivated. while ways to sedition to sue the american government to a ready high cost conflict the u.s. effort to get allies to shun the firm threatens to bar the company from major markets and puts billions of dollars of investment in super high speed five g. networks that all risk it also adds tension to an of ready complicated trade relationship between the world's top two economies. and let's talk about the trade relationship and the likelihood of a trade deal with our financial correspondent new york jose luis de haro. some new signs that a deal might not be coming soon despite recent reports what can you tell us. i disappoint stephen it is a clear that there might be a chinese compromise to increase the imports coming from the us a main goal for de
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white house but both the chinese president xi jinping and u.s. president don't know trump is still facing internal opposition especially when it comes to solving contentious the structural issues such as subsidies of force and technological transfers also the idea that the u.s. could we impose an increased power to unilaterally. without the retaliation from china if it does not obey to its compromises is not sitting well with the chinese government also afraid of last minute changes that from the u.s. administration so there are still a lot of unresolved issues that need to be talk all day in the coming weeks if there is some hope of finding common ground by the end of march also economies say that even if a deal gets done the education will prove challenging and disruptive sense that will require major adjustments here in the u.s. in china's current trading partners. haro their force the new york thank you. now over to europe where the european central bank has decided to delay any
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interest rate hikes until at least next year in a bid to revive the struggling euro zone economy the bank decided to launch a fresh round of cheap loans b.c.b. president mario draghi also announced the bank had lowered its eurozone growth forecast for the coming years it expects just one point one percent expansion this year. prosecutors in the netherlands are said to be investigating dutch bank i n g f reports connecting it to a massive money laundering scheme out of russia and some of europe's biggest banks have been linked to the scheme the so-called troika laundromat is alleged to have channeled billions of euros from russia into the europeans for its. and as i mentioned there i n g is just one of a number of banks across europe tied to money laundering allegations the so-called troika laundromat is just one of several alleged schemes the list of banks accused of money laundering is a who's who of european lenders at the top is don sco bank denmark's national bank
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which admitted that much of the two hundred thirty billion dollars flowing into its tiniest only a branch from two thousand and seven to fifteen was likely suspicious so how does it happen even member nations are in charge of policing their own banks but there's no e.u. wide regulator and since you banks can freely transfer money to each other it takes only one unscrupulous bank to inject money into the entire system and where is the money go it could be hidden in offshore bank account or used in a criminal or a listed enterprise so what can be done to stop it for more on that i'm joined now by nick a lifer own he's a senior fellow at the peterson institute for international economics in washington d.c. . you've written recently about this very issue tell me what's currently in place for a you member states to stop money laundering but just points are higher principles of the global level of recommendation from zeus' or both financial action task force and then there is european unity station which said some rules
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are converged between two different member states but enforcement of the rules are composed of banks. cation of fines if something goes wrong this is almost entirely at the level of individual member states and as you indicated before sr is only as strong as the weakest link in to change the we have twenty eight member states i teach one is a single market is there is only one that fails in their duty isn't the system is not secure and our visa is more than once that problems so enforcement the national level then what needs to be done if that's not working. so there has to be some effort to break to vicious circles that maintain some member states in this week's situation where there was that simply unable to enforce a male on time when you don't ring and as you say sion and so you just wait to do that is to set up one critical aspect of the enforcement process as
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a european the whole not all aspects of course the police or prosecutors so you take a community when it's unfolds as will remain the international level but what it's called is a jargon a mauser provision on time when you don't bring supervision which is making sure that banks and also institutions types of programs to detect and we court suspicious transactions this can be established at the york and levels are precedents for this who probably need to creation of the new agency but that's not just of the world they measure of course the c.e.o. regulator the need for this is this politically feasible specially given member states national interests in their own banks frankly compared to other sins that have happened for example to creation of a banking union where different kind of thank you supervision focal credential supervision how do you transfer to the european level at the european central bank this is going party easier so i don't see any major political obstacles of course as usual the national agency is in charge of this task of famous or prevention
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defends their prerogatives defend their turf that's normal but a minute is the security issue for europe i mean there's a lot of money coming in. of course part of the broader relationship with russia so i think the program should be ready to tackle that the level of political leaders and i don't see any major obstacle for progress to be made there right away and see what happens they left rome with the peterson institute for international economics in washington d.c. thank you so much for joining us thanks for having me. over the u.k. brags that will affect how people in britain eat one third of british fruit and vegetable comes from the continents that could change of course as their heart breaks that fresh produce could face long waits the customs and critics wonder how fresh it will be when it finally lands on british plates. greenhouses are a common sight in southern spain europe's biggest greenhouse tomatoes for the european market are growing here year round with
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a third of them exported to britain the transportation chain is so well organized that british consumers can always look forward to fresh tomatoes but farmers are concerned that could have properly changed when president leaves the e.u. at the end of the month. a week at that and look at that i will have to work taking into account the possibility that the u.k. is treated like a non e.u. country it would be like exporting to china or japan or australia. he said the only and it would be a very difficult situation above all because the volumes exported are very high and now there's a lot of uncertainty about what's going to happen. last year greenhouses and spain's amaria region delivered some two hundred and eighty five thousand tons of produce to britain. and farmers that grow exclusively for the british market fear huge losses after pressing. the button is they they did this by supply is
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selling. they have to look for the new markets and do. displays over there all that exporters and is not easy. with just three weeks to go before bracks said it's still unclear how much extra time will be needed for deliveries or whether the produce will still be fresh when it reaches british tables and many farmers here worried that could put their future and jeopardy. iranian hackers have reportedly stolen corporate secrets and data from more than two hundred companies over the past two years the revelation first reported by the wall street journal was detected by software giant microsoft cyber attackers still secrets and white data from energy and production firms in saudi arabia germany the u.k. and the united states causing hundreds of millions of dollars worth of damage iran denies the claims. i'm seeing tears and dylan thanks for joining us.
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what's the connection between bread. and the european. feel no
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guilt motus d.w. correspondent and avid baker proud of. who should go about recipes for success and the strategies that make a difference. baking bread. d.w. . it's all happening with. julie's. news from africa to the world your link to exceptional stories and discussions to no one will come to a clean program tonight from funny to me from the news it is easy to go out with say do deputed come smash africa join us on facebook w. i i also it's not easy to go to another country you know nothing about the film do this because we can't stay on venezuela i know most of what the.
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cause of global news that matters d.w. made for martin's. this is deja news africa coming up in the next fifteen minutes resulting victory for president obama in nigeria is opponent. with these challenge to the results we'll look at how the allegations of. this weekend's important regional battle. and fighting terrorism we have a story of the military exercise working to boost the capability of the african army. then on the grand sirrah leone's.

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