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tv   Business  Deutsche Welle  October 12, 2019 1:30am-1:46am CEST

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it is. the degree of. the u.s. says it has an initial trade deal with china and delays tariffs that's hit chinese goods next week but will a partial deal take away the trade uncertainty that settled over the global economy . also on the show ethiopia's prime minister was just awarded the 2019 nobel peace prize will look at the end vicious economic reforms he spearheaded at home. and italian cheese is about to get more expensive for americans the u.s. is set to impose penalty tariffs on european products in retaliation for e.u.
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subsidies to plane maker airbus. this is your business report i'm stephen beard simply lead thanks for watching the u.s. and china have agreed on a partial trade deal according to u.s. president trump that means the u.s. is spending plans to increase tariffs next tuesday on about $250000000000.00 of chinese imports trump and chinese president xi jinping could sign the partial agreement as early as november investors welcome the news with u.s. markets ending the day higher. us a look at this with our financial correspondent in new york yen scorer and now yens markets have been looking forward to a trade agreement and in particular to this meeting between trump and you all day what do they make of this trade deal. well there is some relief on the wall street but it will be very interesting to see how the market opens on monday because they have been so many headlines and shortly before the market closed at some point we
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saw blue chips trading up by more than 500 points what we did not end on the high note the market at the end again a good 300 points what still is a pretty decent trading session but overall u.s. president mentioned that it will take 3 to 5 weeks before we will have something. written so a lot of things that we are still with that we still need to figure out and i think investors on wall street will need the weekend to really sort out all the headlines that we just got shortly before the market closed they as we know that the u.s. had a sprawling wish list when it came to these negotiations from closing the trade deficit to curbing some of these technology transfers that they accuse china of what does this deal appear to do that appeal to cover these comprehensive areas. and well i mean 1st of all the deal will be broken up in different phases so right now we
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are talking about face a that is supposed to be done was in 3 to 5 weeks that will mainly include purchases sell for u.s. army culture products at least for u.s. farmers that seems to be good news we are kind of shy of all the other details but what is very unlikely to happen and we've talked about it all week long is that u.s. corporations are still having a really really tough time to make investment decisions because there's still so many open questions when it comes to intellectual property when it comes to subsidies for chinese run a company is so if you're a manager if you run a corporation and you are still in this uncertain environment you're probably still very hesitant to make big investments so unfortunately even if those talks showed some progress well we still there's still this uncertainty and that will be
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with us for quite some time even if the u.s. president donald trump is saying that the trade war is shortly to getting to an end a very good point whether this uncertainty is taken away by a partial trade deal corded there 1st in new york thank you. mastercard and e-bay have all backed out of facebook's libra cryptocurrency plans it's a major blow to the project as it faces headwinds from regulators payment companies strike join the defectors on friday following pay pal which backed out last week told the wall street journal it could rejoin the project if it won regulatory approval governments have vowed to put the brakes on libra citing consumer risk and the challenge their monetary sovereignty. over the africa he's risen to political stardom on the continent and on friday he received the 2019 no bill peace prize for his role as a unifier ethiopian prime minister abi ahmed made peace with neighboring eritrea
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thus ending one of africa's longest running conflicts within ethiopia obvious known for rapid economic reforms and getting the country back on its feet after decades of war and poverty. since becoming ethiopian prime minister in april 28th teen has been hailed as a visionary reformer but analysts fret that his policies are too much too fast for the political old and at the same time too little too late for the country's angry youth whose protests swept him to power be himself says he's pro jobs program with and pro inclusive 80 on the pathway to prosperity and it seems his agenda is delivering results. only. began looking at the general supply and demand there are indications that the economy is recovering. the economic indicators show that our economy is growing at
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a rate of 9.2 percent this financial year. his policies have included privatization of key state owned enterprises and a proposal to partly privatized ethiopia's national airline but although he's pushed to liberalize his country's economy he's coupled. anomic reforms with reforms to civil society and human rights the country still has a long way to go though just 44 percent of the population has electricity so ethiopia is doing everything it can to attract foreign investment and opportunity that the chinese are only too happy to take advantage of with generous loans but that's a double edged sword in september the un told ethiopia it must get its foreign debt under control india and china together make up nearly one 5th of the global economy and then in time of weakening global growth and trade protect protectionism they may share more economic common ground than differences just one reason why chinese
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president xi jinping visit to india is being closely watched. the 2 asian powerhouses have a complicated relationship and india is putting on a smiling face to welcome xi jinping. the heartfelt hello camp mask the challenges though in the past few years india has been left behind as china's economic growth the shot ahead china's economy is now 5 times out of india's. the 2 leaders will try to break the lengthy deadlock over a free trade agreement china is india's largest trading partner to trade war with the us means china wants to boost trade with india. foreign direct investment into india has risen to about $45000000000.00 and china is keen to be a major player in the growing indian market. indians love chinese smartphones and other equipment but india wants more trade going the other way to bring down the $57000000000.00 trade deficit. there are common interests but
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warm friendship has proven elusive the indians dislike china's close ties with bitter rival pakistan to china pakistan economic corridor is a key part of she's belgian road initiative she met pakistan's prime minister imran khan this week for talks. only if india and china can put these disputes on hold and they face into a future of joint cooperation. and let's take a look at some of the other global business stories making headlines. boeing has stripped c.e.o. dennis miller of birth of his role as board chairman saying the move will allow him to focus on bringing back the company's 737 max jetliner from its worldwide grounding director david calhoun will take over as non-executive chairman according to the company. germany's federal transportation authority has ordered carmaker dime learned to recall hundreds of thousands of vehicles the recall is based on an
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unapproved emissions technology in diesel engines and that affects most of diamonds product range down there says it will appeal the decision and plans to cooperate with the authorities. the u.s. is set to impose a 25 percent levy on a range of agricultural products from europe next week the plan follows a world trade organization ruling that the e.u. had illegally subsidized aviation giant air bus to the detriment of u.s. rival boeing and its future still ongoing but european food producers are already sounding the alarm. this is parma the italian province that's been producing hard cheese for 9 centuries. jannie back to nelly's families be not it since $895.00. much of his product is banned for the united states it's the 2nd most important export market for parmigiano after france. but
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one week from now the cheese will be subject to a 25 percent tariff. for the whole region of parmigiano reggiano for those farmers this was a slap in the face because of course when we no longer have that export market for the cheese will be forced to lower the price here and after that we won't make any money everything we earn is from parmigiano reggiano or. parmesan cheese is just one of many european agricultural products the united states is targeting up to the world trade organization rules of the e.u. had been illegally subsidizing aviation airbus other goods affected include french wine. and spanish almost. in madrid farmers have been taking to the streets to voice their opposition to the levy. but are not good to be trump wants to impose
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a 25 percent tariff we can't compete at that price in the traditional olive groves we're going to ruin them. with trade tension between the united states and the european union he sing up many farmers fear and all of branch alone won't be enough to end this to speeders. and that's it for me and the business team here in berlin you can of course find out about these and other stories online and dot com slash business i'm seeing birds in the lead as always thanks for watching.
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us after the for. november 9th.
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unity and justice and freedom the 1st words of the german national land. 3 centuries that the foundation of this country. values developed in. art is it to live by and defend the principles of unity justice and freedom in our everyday lives. our german 3 part series starts october 21st on d w. rooms. are always a symbol of a long complex in the philippines between the muslims and the christian population . in play as fighters occupied the city center in 2017 president to church's response was. this is not the kind of freedom that we want
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how did we become a gateway to islamist terror. an exclusive report from a destroyed sitting. in the sights of our u.s. starts october 24th on t.w. . moving. on a very warm welcome to our culture news and here's what's coming up in the next 15 minutes. a day w. music documentary deconstructs brahms and brings us closer to the members of the orchestra. the nuts who are now got me here in berlin has been digging in its vaults to find works by neglected female artists.
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but 1st the western german city of bomb is the high much home town of lewd fig. he was born in $1717.00 and spent the 1st 22 years of his life in the city next year is a very special. bond as it's the 250th anniversary of the great man's birth and there's lots going on that every year there's a beethoven fest but beethoven 2020 is much more than that indeed the whole year is so packed with all sorts of events that celebrations have spilled over into this year and kind of already on the way. now friday saw the opening of a special walking tour in and around bonn featuring all the important places where beit have malls on the line from there is a burka the artistic dereck.

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