china has to auction off 10000 tons of imported frozen poor health and government reserves the sale comes as the country struggles to deal with an outbreak of african swine flu that has seen farmers lose 100000000 pigs companies will be able to buy a maximum of $300.00 tons of meat each the country pays a dominant role on the international pork market more than half of the world's roughly $770000000.00 pigs are being raised in china almost all of the country's own needs are normally met by its domestic stock but due to the outbreak china has to import enormous amounts of fork to meet demand that has that has driven prices through the roof and distorted the markets somehow let's talk about this with us to drive a farmer or in the u.k. he's the editor of agricultural trade magazine think world alister how dangerous is that outbreak of swine flu in china was fine fever rather and what does it mean for

the global pop business well i mean our innocent how dangerous it is catastrophic to china we need isa some of it known as a 100000000 pics saluted china's already lost to the speaker that could reason half of it by the body and yet she's social problem it's not a welfare problem and it's spreading all over asia as you just cannot underestimate the scale of this probably the biggest downward disease outbreak in living memory and as you say setting a big impact on markets each each giving almost an artificial lift in price to book exporters all over the world including in germany spain and beyond but you know you as you just measure a european farmers are hardly complaining about this are they. think some of the great marriage and i mean these are routine things happening here on the one hand east reading west which for russia of see there's a lot of virus in poland bulgaria romania at the moment it's

a lot of nervousness about getting to the 1st place but on the other hand in the short term of course we are seeing very high prices and a lot of that is under paint by by china who don't know how long it's going to last and you know in into world of peaks you know what can come down fairly rapidly why is this disease spreading so fast at the moment. there are number of reasons each case is a tiny amount of viruses very very and only chance is tying him out on marise and it can be spread by up our wildlife by peaks where you have lots of small holdings in express with pete pete each individual. human pork has been discovered and you know what's around the world and it's seen in china as an animal feed you can get it can be transferred on vehicles and by people say there are so many routes and where you know you buy security isn't up to scratch and getting infected all too

ready. alice to drive a thank you very much for this insight thank you and amid the crisis as we've heard german pork exports to china a booming for the 1st time in years pig farms are turning a profit but stricter regulation will get in the way very savalas have to invest in a more animal friendly environment for many small businesses this is simply too much. they're busy in the cold storage unit at the simón slaughterhouse in reiman polack net these poor carcasses are being exported to china since april deliveries have sharply increased african swine fever is rampant in china at the moment it's estimated that around 200000000 pigs had to be called. in all of europe there are currently around 136000000 pigs just compare the numbers if all of europe were to sell every last pick to the chinese we still wouldn't be able to

close the demand gap the. farmer directionals a pentagon has profited from the increasing exports he sells his piglets were the highest price in years but he's still not happy about it as new laws on animal welfare and environmental protection are pending for example sounds are to be given twice as much space for the farmer it means cutting the pig population in half or increasing the science of the stables that could cost up to $5000.00 euros per stone. because with higher costs and fewer benefits we're supposed to invest it's in comprehensible especially since it's not known if the african swine fever problem in china will be solved if it is then it's not certain what will happen next prices will go down and we'd have to compete massively on prices with other countries that are causing other big problems between people being in fields. many farmers like hendrik i sure don't want to invest in new

stables compliant with new animal welfare and environmental protection regulations but i should chose to give up his farm all his pigs have been sold and the arable land lease to remain competitive he would have to take out a loan to build a new stable the 40 year old hesitates to make new investments. you know runs it does all that's a lot it's not that easy. a 1000000 euros there are so many regulations you have to comply with big. around 2200 pigs farmers have given up in the past 2 years to meet the demand ban one seimone is buying things from france and belgium and spain the number of pigs has even increased by 4 percent. don't you see in spain pick farming has a social value it's an important economic sector as a rule the requirements are not as strict as they are here so of course more pigs

will be kept there than here here's a paradox in a period of extremely high prices for pork farmers are insecure about the planned animal welfare and environmental legislation is making them reluctant to invest at all. the days when the world's poorest countries are slowly but steadily catching up with the world's richest apparently come to an end that's the conclusion of the latest global wealth report by a german insurer leontes it compares the assets of the advanced and emerging parts of the world let's have a closer look at it since 2008 the gross as of emerging markets have considerable consistently grown at a faster rate than advanced markets as you can see here. however over the past 2 years these 2 lines have crossed as you can see there at the end as in emerging markets have begun growing at a slower rate than in the advanced world meaning they're losing ground that slowing growth has been driven by asia almost pacifically by china during 2018 china's

gross financial assets dropped by 3.4 percent that in turn drowned out the growth seen by the other emerging markets in its neighborhood let's bring in michelle hi-z. he's a chief economist and allianz and have compiled this report joins us now from a friend for me here there you are does it mean what you found out in this latest report that advanced economist economies are just more resilient to economic headwinds or what does it mean. well i would say it depends on the type of headwind we've seen very strong growth of financial assets in the emerging markets for 2 decades the year 2018 brought a slowdown even broader light slight conflict with the united states last year and china was not resilient with respect to that shock the markets really tailspin

downwards and that led to this decline actually in financial assets despite the fact that also asian households are high savers big savers and add a lot to their income to their assets every year but the fall of stock markets was just too strong so basically when you say that more emerging economies economies across asia ago it depended on sign on is china really the growth locomotive if you will that pulls all of asia i would say that is we have seen in the last years and decades that there is a middle class developing in china if we take international definitions there's about 550000000 people in china that have entered and grown into the middle class as we call it and this is of course a driver of consumption in china and

a driver of growth for many economies neighboring china so my answer would be yes jain a is the dominant economy and then the slowdown in the growth of assets in china is a problem also for the neighbors if we look at that as a consequence of that what we then see in the emerging economies so rounding china i'll be looking at rising public the levels are we looking at social unrest even. i hope not at least not for for reasons of financial asset developments and stock prices and so on there is always a potential for social unrest as we have seen in the case of hong kong but this is basically politically driven because of the development of financial assets i think we are more on the safe side although we do see in many asian countries that not only corporate debt is growing loans to the corporate sector but also loans to the

household sector are growing at a very fast pace and if there was a crisis to come and economic crisis then many of these stepped will will fail and that will be a problem for the financial systems of these countries so i wouldn't see any unrest right now but look it's a long run development that needs to be paid attention to me allies are thank you very much thank you. and now to some of the other global business stories making headlines today u.s. president trump has announced plans to introduce substantial new sanctions against iran the white house says blames tehran for an attack on saudi arabian oil facilities that cut off 5 percent of the well supply of crude oil existing u.s. sanctions have already crippled the iranian economy. investors in the u.s. are waiting to find out if the federal reserve will cut interest rates for

a 2nd time this year factors affecting their decision include the outlook for global trade and the potential disruption to the all month of course by the attacks on the refineries in saudi arabia kuwait. has said from the end of business. and. all websites for more stories as to. slash business here's a quick ask global markets at this stage you. the

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