climate impacts maturity greater than we see oh maybe. it's really frightening. why are people more concerned. the little yellow box shorts mean to the first t.w. . the deadline has passed and the us has upped its tariffs on china so what does that mean for the trade negotiations between the two powers and what does it mean for the global economy to take a look. and goes public today seeking billions in funding for the company has been plagued by controversy or investors being taken for a ride. on the show should tech giants like facebook and google face even more regulation or be broken up we'll talk to nobel prize economist paul romer was

a different idea for reigning in tech firms. i'm stephen beard is in berlin thanks for watching. us tariffs on two hundred billion dollars worth of chinese exports have jumped from ten to twenty five percent that after china missed the deadline for a new trade deal imposed this week by president doll truck of china has threat retaliation but its negotiating position may have weekends earlier sanctions have already been hard. fabrics or toys at the international wholesale market in you you'll find just about anything you need for your home hong shows textiles the town of conflict with the us is ruining our business. trade tensions between china and the united states have affected me a lot we don't have any more orders from the united states most of our clients are from the middle east but they're also under u.s. sanctions we're getting less and less orders. and she's not the only one who in

eastern china is an important center for trade and household items and they were exported across the globe when the trade dispute isn't raging that is the world's most famous mouse which used to be a big sales item has become a real shelf warmer here things aren't any better in chen you making ceramic shop. well i hope china and the united states can go back to the talks fairly and reach an agreement that if the trade talks blow up it will be difficult for us to do business in the future it affects the whole world not just our usual market or china it affects everywhere. it's a decision of how to live you've got to try. he's closing up for the day maybe things will look better tomorrow but china's exports to the u.s. shrunk by thirteen percent in april much worse than expected. let's go to frankfurt now our markets are open our financial correspondent susan is there

conrad what's the mood among traders. the mood is not as bad as one might have anticipated you know the german share index tax is trying to trading slightly higher than last night of course i have to say after having lost around about four percent in the course of the trading week until last night in anticipation of those terrorist but now traders i talked to would like to see the positive aspects in all this they say that it's positive that the two sides are still on speaking terms that they continue their talks and also it's positive that the chinese have talked about retaliation but they haven't been very precise about it all this makes people slightly optimistic here but of course the optimism is very very fragile unlike the u.s. president a vast majority of economists are convinced that eventually those higher import tariffs will also slow down the u.s.

economy and you know american businesses will not be able to absorb the terrorists the way they have in the past they will eventually put more of the burden on the american consumers and briefly conrad what can businesses do to protect themselves . well if you are an american company of course you can ask the government to be exempt from those tariffs apart from that there's not much you can do you know postpone risky investments pile up cash look at the your supply chains to search for the locations which are legs less exposed to that risk but of course that takes a lot of time it's a very difficult situation right now as we know big firms don't move very quickly in their force and in frankfurt thank you. will listen the new york stock exchange today where it hopes to raise billions of dollars but investors around skiing with a bright healing firm ever be profitable

a company as opposed to only losses in the ten years since it was founded it's also been no stranger to controversy. it seems controversy has constantly tell gaited since the company was founded ten years ago the disruptive startup has put taxi drivers around the world in terror of losing their livelihoods leading to protests in the u.k. spain and poland where last month parliament elected a bill to legalize the ride hailing upstart and other based firms if they feed it to you but we feel we're discriminated against we have to get licenses pay pension contributions we have to set up a company to work and we have other costs in contrast the illegal carriers have low costs they're often people convicted by the courts seventy five percent of them without polish citizenship they work illegally and the government does nothing about it is one step here. has faced legal challenges from drivers demanding basic labor conditions it's been banned in several countries including denmark and

hungary in twenty sixteen hackers attacked cloud server and downloaded millions of users personal data a year later its c.e.o. travis cullen nick was forced to step down after a series of scandals there was a fatal accident involving one of the driving cars and there have been numerous rape and sexual assault allegations against uber drivers from india to america more than one hundred in the u.s. alone the company has also been criticized as having a culture of sexual harassment. then there's the balance sheet over the twelve months to the end of march up losses of three point seven billion dollars a record for a company in the year ahead of its i.p.o. . and let's talk about another tech firm google's io developers conference is coming to an end in california the tech company showcasing new developments

a privacy issues loomed over the conference as well as the specter of more regulation google c.e.o. which. i recently said that google shares user privacy concerns and even welcomes legislation by the u.s. congress over regulation and that comes after facebook c.e.o. mark zuckerberg said his company was also open to regulation so why the sudden desire for oversight well the writing is on the wall data scandals and public frustration are growing the e.u. has already passed data privacy laws in the u.s. a leading presidential candidate elizabeth warren is calling for a break up of big tech firms like facebook and google now nobel prize winning economist paul romer says he doesn't believe that companies can be effectively regulated you'd rather see a substantial tax on advertising sales and that would be motivate companies to collect the data they need for targeted advertising and hopefully shift to a less damaging business model i spoke with professor roemer earlier and i asked him what effect he saw his tax having

a big tech firms like facebook and google well the goal of this tax is to address a set of problems that everybody is unhappy about but address them not through and i trust which i think won't work nor through regulation just use the tax system to transfer which us back to a model that we're familiar with the networks where people know what they give up when they get something and also to design that tax to create an incentive for these firms to not get so big to not be so powerful this the right kind of tax would give them incentive to actually break themselves into independent organizations because of this the lower the total tax bill the you have been talking for a long time about taxing digital firms these are the issue here is about something more critical than tax fairness. yeah. i think it's important though to keep our focus on what's really at stake here the stakes now are about control of all of

the information that we use to make decisions in our lives to make public decisions it's it's a much more fundamental issue than just covering covering the budget and we want to stick to this tried and true notion that we're all better off if we've got choice if there's competition if there's more than one forum where we can try and be heard or go listen. at the same time it does seem like this would solve the revenue question that a lot of countries have yeah it might generate revenue but that's not the reason to adopt this tax the goal in this tax is to discourage or deter behavior that's harmful and in the best case this tax might not generate any revenue at all because firms stop doing the things that we think are harmful and you don't have a lot of confidence in regulatory bodies in the u.s. you mentioned specifically boeing in the f.a.a. at the u.s. regulator in your piece why don't you trust regulators in this case. so i'm on the

record saying that the f.a.a. plus it's the other agency the n.t.s.b. the national transportation safety board the two of them together are the gold standard for regulation and i recommended a system like that for our financial sector they were very effective at regulation but what we've seen recently is that. the boeing was so powerful through its influence on the congress and the executive branch boeing was able to muhtar seems to have been able to neuter these once very effective regulators so in addition to thinking about too big to fail in the financial sector we've got to start worrying now about too big to regulate does that mean then that you believe that companies like facebook and google are too big to regulate i think it's you have to be careful about saying that you know more than you know i think there's

a high probability though that these organizations are too big to regulate or to say it in a slightly different way if they were broken up into five or ten different organizations it would be much easier for a regulator to do the job of creating the kind of society in the kind of information flows that we as citizens want to see you talk frequently about the role of knowledge in our economy and its relation to growth do you believe that reining in large technological firms is important to incentivizing knowledge in our economy. i think a useful way to think about a new technology is that it creates a lot of affects some of which are good some of which are bad. the way we make progress is you implement the new technology but you limit the harms so then you just get the positive upside and to give uniting sample when we first started moving the cities as as humans there were a lot of problems with cities there were health problems people didn't live as long

and cities so what we had to fear how to do was to get the advantages of cities but address the health problems with public sanitation public health in the same way we need the government to work on our behalf to limit the negative side effects of new technologies and to help us enjoy the benefits they can bring. and i was in while you economics professor and nobel prize winner paul romer speaking to me earlier from new york that's it for me in the business scene in berlin as always thanks for watching.

everyone who loves books has to go insane. you literature list british german my screens. what's the connection between bread. and the european union dinos. correspondent and alan baker

can stretch this. six by the. top. sniffing recipes for success the strategy that made a difference. baking bread on d.w. . hi there and welcome to news from the world of arts and culture in today's show we've got a special focus on the upcoming venice biennale a treasure trove of contemporary arts so let's have a quick look at what's in the pipeline. opening up to the public on saturday for the fifty eighth time this year's venice biennale it is intended not to send messages but rather to raise questions. and british the ramesses

edmund deval is also at the be a knowledge and brings his remarkable library of exile and his passion for porcelain to venice. but first we had to southern germany where the doc fest munich kicked off on wednesday and that's an international film festival devoted entirely to documentaries and one hundred fifty nine films from over fifty countries it's also one of the biggest of its kind in europe well a big theme this year is the tenuous relationship we have with our planet and so we've picked out a few highlights. playing in the reagan tells the story of a small town dealing with the promise of industrial boom and the need to protect the environment. people make a decision on where is that they have no spiritual connection to no aggression whatsoever to ease you to. these fields.