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tv   Business  Deutsche Welle  August 14, 2019 3:45pm-4:01pm CEST

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experts say 95 percent of the world's banana production could be at risk. this is business. as well come the latest figures published by china show output from its factories is growing albeit its slowest rate for 17 years the impact of the trade war with the u.s. is taking its toll at home bought a white house decision to delay some to the u.s. plan to slap on chinese products because of least some hope that tensions could be easing. the delayed tariffs if they'd hit in september would have been no laughing matter for ordinary americans for the 1st time they would have affected consumer products including toys closing tronics that's why president trump says he's perspiring them for festive reasons explaining to reporters that the tariffs would have had too much effect on people's christmases. the president also says the decision follows constructive phone calls with the chinese beijing's incentive for
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ending the trade conflicts was laid bare in figures announced by the government on wednesday july is industrial output growth of 4.8 percent is well below expectations and the most sluggish since 2002 the numbers also paint a picture of an economy slowing across the board with disappointing retail and investment figures the increasingly tangible impact of the trade conflict with the united states shows it's more than just a game. that's been a financial correspondent and hang from singapore with the latest terror of delayed by donald trump have any impact on this kind of data next quarter was it too little too late. ok i have the only gift that this delay in terrorists is bringing to china is time this delay is going to be able to buy time for the negotiators to requote the negotiating skills and assets to the table come
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september when they have those talks with the u.s. now the data that that's been put out by china is not only reflective of what's of what impact the u.s. has have done to the chinese economy but it's also showing how china is struggling to stabilize its economy as it moves away from manufacturing economy and into a more domestic consumption driven economy but that seems to be a weak point for china because g.d.p. is at its slowest as well 6.2 percent staggeringly in the in the 2nd quarter of this year. you mentioned the trade talks will continue in september what can we expect. well analysts say some of those tears will go on and go ahead come september 1st but we won't see any conclusive talks coming out of those discussions you know but the move by trump delaying his tears
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is seen as an all of brunch of sorts to china and this is with the hope that you know of following the talks china might actually see some concessions impose some concessions to the u.s. in a reciprocates of more now this is also. a definite softening entry point for the negotiations to start on september 1st. thing in singapore thank you . and a similar picture seems to emerge here in europe the continent's biggest economy is running out of steam germany's latest growth figures have fueled concerns that the country could be on its way into a proper recession the economy contracted 0 point one percent in the last quarter after posting lackluster growth best the 1st week once a year and none at the end of last year the slump has been attributed to a fall in sales of machine parts and cars to china to break
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a difficult global trade violent should the economy complex again in the next or that germany would officially be in a recession. of all sectors it's the hitherto invincible industrial sector that has begun to drag on germany's economy for years it's been the driving force behind the recovery but no longer german industrial production in june 29000 was 5 point 2 percent down on june last year that's the largest reversal since the global financial crisis and recession 10 years ago exports of also long been a pillar of the economy also a thing of the past right now germany's exports in june 29th seen were shocking 8 percent lower than in june 28th seen industrial companies are dealing with a number of factors the trade war between the us and china is exerting a drag on the global economy. fears also surround brags that the ukase impending
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departure from the e.u. . germany's energy transition to switch to sustainable energy sources is still very much work in progress and adding to the country's worlds its flagship auto industry is struggling with homemade troubles they include the notorious diesel emissions scandal the conversion to electric drive systems and problems with digitalisation in general. all these issues are combining to weigh on overall economic output. and with the outlook not appearing too promising either it could well be that the e.u.'s number one economy is heading steadily towards recession. and to find out whether it is on not spoke to myself he is the chief of the influential german institute for economic research and i asked him how bad the contraction really is and how much of it is homemade we're likely to have now no other quarter of
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negative growth germany's probably in a technical recession but it's no reason to panic the structure of the german economy is sound we have companies that are competitive that have high earnings we have a very strong labor market with record employment and we have a strong government with significant fiscal surpluses so the problem really comes from global trade which has been contracting by 8 percent over the last year germany's economic model depends on trade so this is the result of the global crisis from a trade conflict from uncertainty about brics it about it early about geopolitical conflicts so we should really not panic the german economy is fundamentally sound so you're saying there is nothing of this is home i don't think this is a homemade slowdown germany has challenges in the long run to make the transformation from industry to services towards digitalisation but there's no reason why germany shouldn't have another 234 very good economic is again germany's
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economy is sound and i don't see the problems really stemming primarily from the domestic economy so do you agree with the chancellor and she said it was the u.s. is needed. you know germany needs an economic stimulus in particular as this economic slowdown is comes from the global economy it's important for the german government to stabilize the german economy through a fiscal stimulus that's what we need now in germany the government has big surpluses it could it has the money to do so we need more public investment in infrastructure in innovation in education this is an opportunity both in the short run to stabilize the economy and to provide higher potential more growth more welfare in the long run what about lowering taxes. lowering taxes can be helpful it depends how it is done if it's lowering taxes on investment i would say that's very much needed because we need more private investment if it's about
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a tax cut for the rich. the economic benefits are close to nil so the government needs to get their priorities right think how can they stabilize the economy how can the best spend the money in my view the abolishment of the of the tech surcharge on income which really benefits the top 30 percent of income earners abolishing that tax. would not be to help the german economy. there now do you like but nonis well frankly who doesn't bananas are big business the livelihood of millions of farmers mostly in asia and central america depend on it the bahamas the world's most popular fur we eat one $100000000000.00 of them every year many varieties but the cavendish is the most popular 95 percent of all exported bananas are cavendish and that is becoming a problem because there is a fungus known as the panama disease that attacks exclusively bananas of the
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cavendish variety it is spread through asia and it is spreading $413.00 acres section of columbia's non-accrual already been contaminated some experts are already predicting the end of the banal. the lethal fungus devastates banana plantations the fuse area morgan ism has already destroyed crops in asia now it's in latin america this is said that it presents of the fuse area and fungus continues to be contained in the lack wide giana area on 432 acres 6 banana plantations are affected there are national. colombia has declared a national emergency and the country's agricultural institute has launched a nationwide effort to increase some of 3 controls to contain it the arrival of the fungus in latin america the world's largest exporter of bananas is a major threat colombia's one of the world's leading banana exporters after ecuador
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costa rica hung jury us panama and guatemala. most of the bananas sold in western supermarkets are of the cavendish variety which of traditionally produced a solid gildea under easy to transport as a result they've become somewhat of an export sensation. but because of mass cultivation of this one kind of phenomena many plantations lack genetic diversity diminishing the chances of a strain that is resistant to the disease that has led many farmers to fear for their livelihoods in colombia alone banana plantations occupies some $50000.00 hectares the country exports some $100000000.00 boxes of the manually at a value of $860000000.00 tens of thousands of jobs are lie in the industry and. the worry now is a lot of people are being left without work banana plantations have closed several have already shut they're closing them as there are a lot of disease and it's damaging the whole banana plantations.
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the deadly fungus struck before in 1960 almost all plants of the most common variety of banana were destroyed they were replaced with the cavendish variety now it too must be replaced. by me and the business same here in berlin for more business news and back stories check out. slash business do follow us on social media twitter. or you go here's a quick look. at this hour.
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the the.
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illusion of influence. perception. thinking. action. and willing to change attractive appearances on the phone to easily go to the field to tame shod companies when the bubble up it's time for cash made in germany came in strong double. the men's world cup america the gold cup and the africa cup of. the season the odd mix sohrab as a stunning upset some of them to some right around the corner the german bundesliga is heating up and as always we are there to keep up games with the latest on the gold. the misleaders sun starting all over 16 long the body. first day of
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school in the jungle. ready first listen. doris crane the moment arrives to. join the ring a tank on her journey back to. you know. in our interactive documentary. to reattain returns home on d w dot com i'm writing a tank. the quiet melody resounds michael white of the mood. soon repeat reasoning to me that it's all. the mind and the music. being told from 1st bond 2019 from september 6th to september 29th.
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this is d w news live from burlesque calm after the storm hong kong's airport reopens after days of protests forced a shutdown and protesters apologize for violent outbursts among their ranks but beijing comes out strong slamming demonstrators for what it calls terrorists like apts also coming up don't use the r word germany really says to to sticks showing its economy contracted in the 2nd quarter but chancellor merkel says it is too soon to worry about a recession. also coming up a woman makes.

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