it's to your advantage i do. most but i'm sure you can stand up. and contribute to something important to notice or come up see if. the future of europe starts september 2nd on d w. what's next in the us china trade war saga asian stock markets life as investors are losing confidence in a swift solution to the conflict prompting talk of a looming global recession. and britain the british pound is also under pressure as london seems hell bent on delivering bricks. come to business i want to get the to have you with us starting with the u.s. china trade war which is dominating market sentiment this morning continuing to

chip away at stock prices in asia as straight as a way to clarity on when the conflict will end hong kong's hang seng index slate's north point 4 percent during festive trading because of concerns of a lack of progress in talks between the 2 sides markets in china also faulted on fears the dispute is pushing us towards a global recession stocks in the united states and it wednesday higher but remain lower for the month thanks to the trade war with beijing and the notorious inverted yield curve. and there is something to discuss now with our financial market correspondent ashutosh upon day who is standing by for us at the frankfurt stock exchange could you please elaborate a bit for us on this inverted yield curve well it's not thought it. well typically governments be more money for boarding for

a longer period of time to 10 years than they paid for 5 or 2 years and when you that's compensated for same flesh earn and also compensate investors for risking their money for a longer period of time when you plot that on an x. y. axis that typically looks like this where it's higher for a longer period of time and lower for short period of time borns so when there is some news about an economic slowdown that's when more and more investors rush to buy the longer term bonds thinking that they are more insulated from short term factors and that creates more demand the poor bond prices go up and that's when the events for them go down and that typically in words and now that the markets because. it's been a clear indicator of a recession in the u.s. all u.s. recessions in the past 50 years have been preceded by such an inversion but does that mean that there is it in recession hitting the u.s.

in say in the next few one month or the 2 month cycle that's not the kids because it's usually been late they hit after 24 months ok. please tell me something in about half a minute because i know i understood after the g. 20 summit last weekend that the 2 sides the u.s. and china are actually close to a deal at least that was the impression we got changed. nothing this chances then but what no chinese official has been able to come for who made that call to president trump that he admitted to at the g 7 so all optimism a void for for the negotiations has actually where and from that i neve and stephen minucci in this treasury secretary he has been not able to confirm whether that september meeting is going to happen on nod though he does say that a chinese delegation is expected in washington sometime in the future and i should suspend in frankfurt thank you so much. i was staying in china for

a while because maybe you've heard of china's social credit system that's the massive into networks a balance system that will score every residence here instance norms from proper trash disposal to crossing the street on green it's scheduled for full implementation about a year from now but you also know that businesses will be evaluated too including foreign ones and many on trade. a traffic light with facial recognition cross on red face of public shaming and loose social credit points in some chinese cities it's already a reality even those who sort their trash incorrectly have to reckon with point deductions in some places as well as the penalties for low scores like losing the right to ride the fast train the point system is scheduled for full implementation across china by the end of 2020 and it will also affect businesses the new system will monitor whether business is it here to customs regulations pay taxes pay off

loans or follow environmental regulations those who flout the rules face point deductions experts warn that firms with bad scores could be hit with sanctions or even lose their licenses. it's a completely new system unique around the world everything relating to the company exists in a single system which produces a single score we fundamentally support this system it's a positive thing to clean up things in china but there are uncertainties and one of them is that it's difficult to see how the scores calculated here it's a system that still remains opaque to most businesses according to the german chamber of commerce 7 out of 10 german firms don't know what the new social credit system will mean for them. it was yet another bad day for the british pound on wednesday british prime minister boris johnson said he'll suspend parliament in the

run up to his toba that he says breaks a deadline i move that makes a no deal breaks it's everyone likely. maybe it's a bluff but the consequences are already quite real boris johnson wants the e.u. to take a no deal breaker seriously forcing a bloc back to the negotiating table but with every lurch toward his october 31st deadline the pound has reacted it slid steadily against the dollar leading up to johnson's election as conservative party leader it fell after his meeting with german chancellor angela merkel failed to produce a breakthrough and then today a slide of more than one percent before recovering some losses. there have been fleeting gains here and there but at about a $1.22 the pound is muddling around lows last seen more than 2 years ago and it could get worse analysts polled by bloomberg predicted no deal bragg's it could dump the currency to a 34 year low of a $1.10. driving those forecasts is the sheer lack of uncertainty over what

a no deal would bring coming out of the e.u. of any sort of agreement is a leap into the unknown it's going to stall to happen before so they would want some sort of formal agreement some sort of trade relationship to continue the current currency slide is already hitting businesses meanwhile including airlines like british airways which pay for their fuel in dollars as well as u.k. retailers who pay for their stock in dollars and there are winners we currency favors x. porters and tourism to the u.k. could also rise if occasion is find the country more affordable a silver lining perhaps to unpredictable times. people in argentina have protested the country's worsening economic crisis during what they called a national working day of struggle in buenos aires hundreds of demonstrators come to the capital's main transit ought to be voicing their anger over paying prices and the devaluation of the peso the overall economic turn for the worse also means

that one particular aspect of argentina as national identity has come under threat . argentina is well known for its beef one of its leading exports but prices are increasing and many argentineans can barely afford steak and cattle farmers have to contend with a sharp drop in the pesos value. then i'm also going to have a dollar rose by 20 percent more or less with meat rising by 18 percent but we can't raise prices for the customers by more than 10 percent so that's when you notice there's an economic problem. it would only make what normally go for many argentinians eating beef is a birthright not a luxury but the country is in the midst of a recession the weakening peso is making life difficult for those with low incomes almost all going to eat much less beef because unfortunately we can't afford it and we've got to get used to that. there's speculation the peso will continue to weaken and some shops will raise prices others will keep prices steady to survive but

let's hope they don't go up too much. cattle farmers hope that the current sea crisis is only temporary and are putting off the sale of their cattle to slaughterhouses as long as possible now that reduction in supply is pushing prices higher. as fires continue to harass rich brazil's amazon jungle french president emanuel mccall has called for a ban on soybean imports from the country pharmacy in brazil has reportedly started many of the current fires to clear rain forest land to make more room for growing the crop industrialised countries are a key export markets for the soybeans soybeans are as vital to brazil as highly engineered cars are to germany exports account for more than 16 percent of brazil's g.d.p. and the customers in industrialized countries also benefit from many farmers it's the cheapest way to feed their cattle. on people through coal we can't do without

it when we know that we are bringing a truck that weighs 30 tonnes into the yard we know very well that was not produced by step of the fingers. but if we know very well that there's been a lot of deforestation to grow the soil. before through. just a few days ago french president emanuel mccrone said europe should end its dependence on brazilian soybeans but it certainly wouldn't be as easy as it sounds . farmer frederick p.k. tried to do without soil before but the experience was a fiasco during that period his dairy cows produce 20 percent less milk no farmers would do it voluntarily so now there's a proposal to ban the import of soybeans grown in areas where brazil's rain forest has been cleared. and now to some of the other global business stories making news apple is changing the way it improves its siri digital assistant after it was

discovered to apple and other companies used human monitors to review or your recordings are now says the system will not be added activated by default and that employees instead of contractors would be reviewing its human interactions with siri. bedridden british travel group thomas cook has agreed to a $1000000000.00 rescue it because between chinese investment for zone and the lenders of the bailout isn't bad for the tour operators shareholders their stock will be effectively wiped out. and yahoo is ending the sale of i will be on its auction website in japan the company has been under pressure from environmentalists who had previously denied online sales were contributing to the ivory black market each. easy. they have tried much ice cream or cake you'll know what i'm talking about the powdered green tea is becoming popular across the united states and europe africa and asia but

a japanese tea is losing its flavor at home fewer japanese people are drinking it's partly because of the arrival of other drinks that make traditional green tea look hopelessly old fashioned last year farmers in japan exported 5000 tons of green tea that's 10 times more than 20 years ago in spite of competition from grow as in other countries. still very tasty as a business update here on the w from the in the team as always thanks for keeping us company in the state you.

if you ever have to cover up a murder best way is to make an accident. raring to. never read a book like this. mr jermyn street. i'm not going to think out. loud just sometimes i am but most of the things which are recent i haven't fixed even for german culture looking at the stereotypes claxton

here think the future of the country that i'm not paying. for thankfulness grama day i mean it's all about. bob i my job join me from the german sunday w. . post. hello welcome to news from the world of arts and culture coming up in the next 15 minutes . we'll be showing you and talking about this year's winners of one of germany's top cultural prizes go to a medal. and in our continuing series meet the germans rachael is going to tell us all about small talk just this. if you know what i mean then small talk is easy really. we begin with the go to medal which is an annual award given

by germany's international cultural organization the institute there are 3 prizes and they often own germans who have contributed to the cultural landscape of this country always awarded on his birthday or has the environment and i'll be talking about this year's winners with my colleague melissa holroyd but 1st this report about one of them a turkish writer though i. finally. got the train arrives at solo should go out and train station i'm already over the age of 40 hard still excited i know from the footnote in our history books. i was murdered in cold blood by an armenian on a berlin street on march 15th 1921. born writer joanna calmly is the historical and literary detective persecuted story to.