also on the show the number of millionaires is rising and asia is catching up in the race of the rich. this is did of your business as welcome judean ping has become the 1st chinese leader to visit neighboring north korea for 14 years it's a sign of improving relations between the 2 traditional allies despite a drop in trade between them both president g. and clean your own will want to make sure that trade remains strong despite u.n. sanctions against china secretive communist brother country. the chinese president's arrival on north korean soil was a momentous one clearly not everything that crosses the border between the 2 allies as we said with such excitement most of the exchanges between china and north korea happened here the friendship bridge across the yalu river 70 percent of bilateral trade passes here between dandong and the north korean city of sin nature traditionally heavy metal is made of

a big part of that trade the un sanctions imposed in 2017 banned exports of them to and from north korea with electric cars and textiles also subject to restrictions un sanctions have taken their toll in 2800 exports from north korea to china are thought to have dropped by 88 percent trade in the other direction fell by a 3rd. north korea can at least rely on one commodity crossing the border the number of chinese tourists is thought to be at a record high trade relations are healthy enough that a new border crossing was opened in april this year and around the same time north korean officials were invited to a key summit on president she's flagship belts and road initiative. the maintenance of imports and exports remains essential to both countries kim jong un needs china's help to develop a struggling economy and beijing needs influence over its unpredictable and excitable ally. of what is with asians with our resident china experts cliff included cliff just heard that north korea looks set to become part of beijing's

belden road initiative what will china gain from including north korea well these are these are old friends no country likes instability on its borders for a start and i think china particularly is aware of this and it wants to prop up its old friend you know we used to say they were as close as lips and teeth at that relationship became a little bit strained over the nuclear issue but they seem to be back on track again so i think there's a lot to gain by keeping things stable across the border atonement nuclear the nuclear issue and trade the there are sanctions are in place will china just go ahead and break them. i think it's a question of they how they will paint that i think that they will effectively break them but it will be presented as humanitarian aid i think what they want to do the way china is thinking is that in return for advances on nuclear they will give small advances on reducing the sanctions and i think that's possibly the approach that they will take so are they are they trying to sort of beat the

trumpet the denuclearization game of north korea i think so i think they're definitely i mean if they do break the u.s. sanctions what can the u.s. do i mean the kontum impose sanctions because it's already got trade or going on so it's it's put into that into that position where the chinese action a very strong position here. if we just look at geez. i didn't hear in the last 2 weeks he visited north korea took minustah and russia what does that tell say to an experienced china watcher like yourself well i don't i would like to exaggerate this but i mean in some ways we're seeing a kind of a new world order being forged here i mean we're china's be friending all these countries it needs allies in the trade war with the u.s. some analysts here are talking about how this is more than a trade war this is a new cold war and if that's the case what we're seeing here is that the chinese it's becoming friends with people who the u.s. doesn't want to be friends with the u.s. is looking more and more in words and as this is happened happening china is

looking at all these other countries around the place not only the other countries rather not looking just at the pariahs they're also looking at the western countries of the of italy for example which would have included in the belgian rover's or greece in the same way yeah absolutely it's looking out at countries everywhere it's seeing where it can it can build influence and how it can use its economic strength to promote its its place in the world i mean germany has been has been very keen to keep things on an even keel because germany's economy is heavily dependent on china so even though italy got a lot of stick at the time over belgian road it's not just italy it's a lot of other countries are doing this so i think as you say it's really looking to expand its reach at the time when the u.s. is looking inwards politically thank you very much. despite its name african swine fever is not an african problem highly contagious diseases sweeping through asia right now farmers in vietnam have killed more than

2500000 pigs to try and contain an outbreak that is in danger of engulfing the whole country meanwhile across the border in the world's biggest pork market that is china the break that started nearly a year ago shows no sign of abating experts are already calling it the largest animal disease outbreak in history. china is the world's top pork producer and consumes more pork per capita than any other country apart from vietnam but pork prices are rising as african swine fever devastates an industry worth $113000000000.00 euros annually the disease kills almost all the pigs it infects china's agriculture ministry says the breeding herd has declined by 24 percent nearly a year after the virus emerged in china scientists are still trying to deduce how they can stop the disease which has been able to spread between farms separated by hundreds of kilometers. with

a virus like africans 5 here that can actually fairly easily although all spread and it's they aren't ready. ways of controlling disease we believe that we may have anything between 10 and 30 percent of the animals in. infected. pfeiffer's says it's the most complex and largest animal disease outbreak ever china's national statistics office indicates that the national herd has declined by 40000000 pigs in the last year an indication of how many have been slaughtered due to the disease. while the disease cannot be transmitted from pigs to humans the impact on the food production industry is likely to be severe. compounded by the high density of pigs in chinese piggeries. now

to some of the other global business stories making headlines today airbus has sold 15 new long range planes to american airlines the a 3 to one exe was on said this week's paris air show and is yet to go into production the deal came a day after the surprise announcement that british allies had put in an order for boeing's grounded 737 s. . tons of germany's carrier. tells us passengers there may be in for some strike chaos this summer with subsidiaries euro wings and german wings likely to be hardest hit the focus is on a wage dispute stuff will vote next week on whether to take action or not most times it says it will retaliate with legal action. the f.b.i. is reported to be investigating whether the bank broke u.s. money laundering the new york times last month reported that transactions flagged

by employees at its compliance division as suspicious were not referred to the authorities some of the transaction was allegedly linked to companies controlled by president trump and his family. now a hint seems to have been enough the u.s. federal reserve's indication that rates cut could happen as soon as next month as had a significant impact on markets. the price of gold rose to its highest level in 5 years and thursday it reached around $1386.00 and i was surprised when most of the 3 percent on the start of trading the way. as green financial correspondent done you know copious then i buy in frankfurt for us down you know where is this gold rush coming from just the fit. there is the hope among investors that interest rate cuts by the big central banks around

the world can mean a new worldwide economic of grows and all of this is linked as a result we have seen the doxy and frankfurt but also the your stocks if you going up and yes i guess we can talk about this gold rush as you just said because the gold price indeed went up by one percent gold is always considered as a safe haven here for investors and even though investors are again more optimistic they see gold as a very good investment in order to secure themselves when you talk for example about higher inflation rate this has been something that investors have been talking about for quite some time this latest development and that's very interesting is certainly paying off for a gold mine at companies like is new york for example their share price went up by 5 percent today some investors see all of this though a little bit more reluctant they are waiting for the g 20 meeting by the end of the month in japan that's where u.s. president donald trump and his chinese counterpart are scheduled to meet possibly

with the goal to find a long awaited solution for the trade conflict between the 2 nations because we remember that this entire conflict has been overshadowing the markets for quite some time now. in frankfurt thank you. and i want to leave you with a piece of really good news and emerging economies people are getting richer and not only that the number of millionaires is rising around the world according to a study by the boston consulting group there are now more than 2x2ww as across the globe though they continued to be spread very unevenly most of the world's a 1000000 as one a 11800000 of them live in the u.s. but china is catching up measured in u.s. dollars the people's republic now boasts around $1300000.00 millionaires followed by japan with $1100000.00 the study also says that just 3 percent of the world's

population owns around hoth of global wealth that set things could well change over the coming years as the met suggests that by 2023 so in 4 years the number of 1000000 as in asia and africa could actually rise by 10 percent there's hope for you and me and that's it for me and the business team here in berlin for more business news and lots of background stories check out w dot com slash business states unity w. news is next right after this quick look at global markets for watching your business.

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plays . this is deja vu games life number lead iran says that it is quote ready for war after shooting down a u.s. spy drone to iran says the drone was in iranian airspace the u.s. says that it was in international airspace and accuses tehran of an unprovoked attack. also coming up tussles in brussels france and germany clash over who should become the next president of the european commission to germany's chancellor merkel warns that they may not reach an agreement at the summit today at.