in history. the legend was simply a human being who was neil armstrong. the moon was his destiny starts july 20th on t.w. . to the head of top level salts at the g. 20 in japan this week chinese and u.s. representatives talk trade a good job president trump opens another front accusing china and europe of manipulating their currency u.s. exports. and after a meeting between car also some chancellor merkel has the german car industry missed the boat on electric cars. uncool vada snice sun after the. profits hitting record lows for shareholders demands to hit the reset button

on the japanese com. is do business as in berlin welcome it's an actress time for markets as geopolitical tensions persistent best as are looking ahead to a face off between the leaders of china and the u.s. at the g 20 summit in japan later this week as markets are down across the board have been taken little complet reports of a phone talk with 2 country's top trade representatives european stock markets dropped as well with london's benchmark footsie 100 index opening half a percent down frankfurt's ducks 30 losing 0.4 percent safe haven asset gold has hit a 6 year high. markets are still sensitive to the ongoing trade conflict u.s. president's trumps goal is simple to narrow the gap between u.s. imports from china and what the u.s. sells to china on the other hand in short to cut the trade deficit exchange rates

play a key role in this one country's currency is weak then their goods are cheaper for overseas bias trump has accused other countries of keeping their currencies weak on purpose he's also accused the european central bank and its chief mario draghi of dirty tricks when drug announced that additional stimulus was necessary if the economic conditions in the euro zone don't improve the euro reacted immediately it took a heavy hit against the dollar even dipping below 1.12 dollars for a while trump immediately turned to twitter and is grievances he said marry a druggie just announced more stimulus could come which immediately dropped the euro against the dollar making it unfairly easier for them to compete against the usa they have been getting away with this for years along with china and atlas well let's see what cost jessica is going to say about this is the chief economist of i

n g germany welcome to the studio across what do you think if this truck ride was easy whether you see the chief's comments unfair to the u.s. i think that software was trump there is a tiny bit of truth in it but there's also a big portion of exaggeration in it so yes he is right because if drugs were to cut interest rates again the main channel would be the exchange rate so it would hardly do anything to bank loans but it would clearly weaken the euro change rate and therefore their execs and benefiting euro zone exporters so it's right then to complain that ultimately we can euro or weaker euro makes life harder for the u.s. industry everything to trump has been complaining for years and there is always ongoing investigation from the u.s. treasury actually. on what you the europe the euro zone and china are doing with their currencies there is no active currency manipulation going on and europe so yes off is the weaker euro and a stronger dollar harms us exports more and does

a bit more benefit to you to european exports but at the same time i think trump holds the key in his hands namely if you were to bring some relief on the trade front we would see stronger growth in europe and then the east d. wouldn't have to do any additional stimulus. see their. currency conflict gloomy this similar to the trade conflict that's already going on no not really very just showed the nice chart there by weight of the last 4 years actually did the euro dollar exchange rate has been trading within a very within a very narrow bent with so it is this 112-1140 which we are right now this is more or less the effort of the last 4 years so i think it's very hard to really complain and say we are in the middle of a currency war i think that sold this trade war very quickly and then we do not need to talk about any currency war is that what we describe as a cancer currency war what trump is complaining about is that also normal that the various actors on world markets play with their currencies and influence their

concept i think it's more known that we do see a weakening of the economy we do see a weakened of the global economy and therefore central banks are reacting they are trying to get ahead of the curve so therefore and e.c.b. is kind of non-singing it is no stimulus but also a u.s. central bank the fed has also already in that they might be willing to cut interest rates again so we see this is just a normal a natural reaction by central banks to react so basically. i'm complaining is like complaining about the weather it is a bit like giving nice comments on what is happening i'm i'm very glad that we do have another prominent east you watch and now in this international circle but honestly you know this is this just a question and we will more focus on the g. 20 meeting in a. any currency war you mention the fed. just idly by and watch foreign countries influence their currencies what does trump expect from from his own several branches nothing here that we have very low end of last year when the

when the fed was still kind of anticipating for more rate hikes so now we have there is pressure on the fed not only out of the white house but also actually coming out of the economy so we do see a slowing down of the u.s. economy so therefore the expectation is not only from the white house but also from financial markets that the fed will also add some stimulus in that they will start cutting interest rates over the next month. thank you very much back here in germany the likes of mercedes b.m.w. folks opel provide almost a 1000000 jobs they do lag behind international competitors when it comes to electric cars german chancellor angela merkel invited manages to cost summit in berlin last month there was little progress of industry and government agreed on developing a plan to build more charging stations for electric vehicles the german government

has meanwhile given up on its target of $1000000.00 the cars on german streets by 20 twentieth's little 80000 cars currently registered just. now it's a brand jim there is an automotive expert at university in the u.k. jim if you look at the mighty german car industry right now has it really missed the boat on electric cars. not only it's missed the boat i think there is a situation that is currently lagging behind wanted to other countries and their car producers but at the moment they're the german car manufacturers are being hit by fines and issues over the previous diesel going on in volkswagen issues and therefore there is going to be less money around within the german car manufacturers to undertake research and development into the even sector so there's a challenge about how they catch up here in germany you always talk about electric being the way forward japan for example korea is pushing hydrogen what is the way

forward. well i think it is the one of the need things of debate thing debating over the last few years is the fact that the car industry no longer has its own future in its own hands it is going to be dependent on government policy japan is going down the hydrogen route very obviously because says very few natural resources plus the fact that being on a major fault line having nuclear reactors on a major fault line is problematic so they will go down the hydrogen route also if you go around the if you take the v line that actually eliminates a little for a lot of the markets around the world if you take africa generally speaking i was in africa recently it they struggle to keep the lights on in the hospitals let alone having charging points outside for evie vehicles so therefore there's a big issue about what we're actually doing globally not just in a domestic market or in fact across europe the government seems to be very much of the driving seat at the moment is that healthy you think. no i don't think it is

because it we found in the u.k. especially targets to say it which is meaningless because the industry itself can actually manage to get a strategy together to actually hit those targets there needs to be no discussion more collaboration you can't just impose a target on a private sector organization so you've got to hit that they're not going to do that they just haven't got the capability of hitting some of the targets that the politicians for political reasons actually then put forward is you know to please the public. sake of a automotive expert at university of u.k. thank you very much thought and stay with the car industry missed some shareholders how the fractures and hall meeting on tuesday the 1st since former boss collins goals of rest on multiple financial misconduct charges net profits fell to a near decade low in the last business year the meetings or votes on a series of reforms to revamp operations model most pressing questions facing the

japanese carmaker right now is whether the long standing alliance with brando can be rescued. quite a lot has happened to nissen since its last annual general meeting the misconduct scandal concerning as to chairman careless gone has rocked the company over the past 7 months shareholders were eager to hear the plan for the way forward ahead of the gathering and yoko hamma. no the constant reports maybe wonder how they'll handle the company and the situation from now on i'd like to hear from them whether they plan to rebuild the company it's. not the 1st port of call for nissen c.e.o. hero. an apology he said in the situation to stop as a representative of our company i would like to deeply apologize to our shareholders for the financial misconduct and the serious wrongdoing by our former executives last year. so that i could dismiss this and. be almost all you take away

most of the misconduct scandal has left nissen's 2 decade old all making alliance with french carmaker randall badly damaged but those looking for a quick fix were left disappointed at the meeting. said miss sun would be focused on its own performance 1st and foremost before looking to repair the rental relationship none the less than those top brass were also in town for the gathering i'm very happy to be here and we will attend the general assembly i think everything you go very well. read no say they will back it sounds plans for governance reform but given the strain that has been put on this relationship in recent months getting the partnership back to where it once was will be challenging . us presidential candidate bernie sanders made a radical proposal to deal with the problem of student debts make wall street firms

pay for its american universities the most it spends of in the world and students often need loans to finance their jewish an accommodation and food on this on this proposal he says extra taxes placed on wall street profits would wipe out a whopping $1500000000.00 of outstanding debt. and that's it for me and the business team here in the berlin for more business news and analysis back on stories check out you don't look com slash business don't go away. the reporter is next right after the quick blow off global markets the for .

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risen within its. ready own mind and amusing. to open 1st bond 2019 from september 6th to september 29th. tranche dion germany's loudest and internationally best known band are moscow's a provocation out there on the 1st of a stadium tour of just by dealin pick stadium here in their own town. and the historic stadium almost looked like it was on fire with the band's amazing pyrotechnics but it was and will be heading down there in just a moment here on arts and culture we met up with ramstein die hard fans also coming

up on the show this is exactly what you usually don't want to see that is unless you're a fan of the swiss destruction artist simone baerga and from shattered glass to the collapse of a wealthy family we look at the good in books the debut novel that one thomas mun a nobel prize in our series of 100 german my screen. ramstein have a reputation for putting on the most amazing live shows they're also one of the most controversial bands around with their frequent use of nazi era imagery that often gets them into trouble especially here in germany now 6 they just crowned their career so far with a huge concert in the olympic stadium here.