what have to do you have a business and you want to get jones and lynn thanks for joining us and the international monetary fund has just copped its outlook for the world economy citing trade disputes for the slowdown the i.m.f. is now forecasting 3 percent growth this year the weakest since the 2008 financial crisis now this as trade talks between china and the us are faltering and the latest development the chinese government has set concrete conditions according to her bloomberg china wants the u.s. to roll back the terrace imposed on chinese products at the start of the trade war then and only then will china need its side of the deal and buy $50000000000.00 worth of american agricultural products donald trump said the 2 sides were getting closer but it looks like the deal struck at the weekend is hanging by a thread and. 3 points of a more on the impact of this protracted trade war is having on china as well as

other asian economies i'm joined by our director of the mocker economic research division of the asian development bank so good to have you with us let's start 1st of all with this latest development what do you make of china asking the u.s. to be rolling back levies so that they can buy agricultural products of beijing that cash strapped it's a bit funny. china's a 12 trillion dollar economy they can obviously afford to buy more of a cultural products if they want what is true and what's maybe not so funny is that the trade the trade war has really had an impact on the chinese economy and our asian development all of that that came out 2 weeks ago our estimate is that the tariffs currently in place have already of will impact china by. taking away about $80000000000.00 and of g.d.p. and about 3 or 5 more than $5000000.00 jobs so in that sense it's non-trivial they do what they do want the terror. it's rolled back just

a postponement of the tariffs today is not enough and if china needs basically this trade war to end rather sooner than later why do they insist on the talks there was an understanding reached over the weekend well i mean further talks are needed because even the understanding reached over the weekend is really rather limited i mean what was it was the only concrete things were you know the delay if these 15 tariffs and china buying where i grew cultural products there was talk of you know agreements on currency. intellectual property and financial services but with without any details provided and again without anything signed so for them even for them to reach something concrete on that limited agenda by the apec summit in the vet member is is going to they do need extra talks actually of course it's this deceptive tractor trade was weighing on both the the i.m.f. has just cottle's of growth forecast for the united states and it's sending out

a very sort of staunch warning saying that the situation was precarious there's no room for any mistakes what's the need for economies in asia so so there are 3 main effects one is that if you look at investment in there in the region it's already declined so in 8 of the 11 largest economies investments contribution to g.d.p. growth has declined in the 1st half of this year compared to last year a 2nd effect is obviously if china is getting hit they are selling less to china so this whole global as regional supply chain that countries are getting hit by that there is a silver lining however a trade redirection so you do have many countries seeing their exports to the us increasing vietnam by 33 percent bangladesh by 14 percent so that's one of the others production redirection you have if the i flowing into these countries business is realize that this trade or snow is going to go in a time soon i would like to close with a silver lining. from the asian development and thank you so much for your time

thank you. a surging crisis caused by a widespread outbreak of swine fever have driven up china's inflation in september overall inflation was up 3 percent mostly on the back of a double digit percentage increase in food costs the prize of pork rose 70 percent a hefty rise for a country where pork is the most popular meat the government has released of pork supplies from its central reserves to stabilize prices and has raised import quotas from the u.s. . meanwhile australia for the 1st time has counseled a tourist these are over under clear food including several kilograms of pork that as the country tries to keep itself free of african swine fever. the 45 year old woman who arrived at sydney international airport on saturday was sent home to vietnam and banned from returning to australia for 3 years the decision signals a new hard line in australia's efforts to keep itself free from african swine fever

we need to keep piston disease free status as a country strong and with the threat of african swine favor reaching across europe in the not last not last 8 months right throughout southeast asia ensuring that our pets and disease free status from this disease which some say he's potentially the worst animal health does a the world will ever say the disease has wiped out pig populations across asia and europe and was recently detected in east timor just to australia's north west really and pork exports to asia have benefited from the country's disease free status as herds across asia are being slaughtered because of infection the industry contributes some 2 $1000000000.00 to australia's g.d.p. and employs $20000.00 people. and that has some of the other stories making news

around the world harley davidson has suspended production off its life why electric motor. cycle which the brand had rolled out as part of a deficit pick ation push the decision follows the discovery of a problem with vehicles battery also it appears buyers of its traditional motorbikes and interested in an electric version of their favorite model. the german flight attendants union has called on live tons of cabin crew at frankfurt and munich applets to strike on sunday the walk out of the wages will begin at 6 am and continue for 5. days it's considering legal action against the strike. take its offensive in all the syria has shocked leaders in europe and the united states from across the political spectrum it's pushed to some of them to issue warnings of the possible consequences to president add one and his government including economic sanctions the business well there's a lady reacting with putting its plans for a new factory in turkey on hold. the turkish economy has barely made

a partial recovery and no this improvement is under threat folks wagon apparently is hesitant to invest in a country that attacks its neighbors that's 1500000000 euros in investments and thousands of jobs put on ice and the u.s. government is also making it clear to turkey that it wants to hit the economy to force president ever to want to turn back. sure as we've warned all along our desire is not to shut down the turkish economy our desire is to see appropriate response these sanctions will be very severe 'd on the turkish economy we will continue to ramp up the sanctions at present the sanctions will only affect individual persons but should the u.s. go one step further and ramp them up as u.s. treasury secretary minucci and threaten the turkish economy could be in

a tight spot the country's currency the turkish lira collapsed sharply in recent months and drag the economy down with it. earlier today as they took antonenko director of global risk analysis at control risks and i asked her how much damage to the u.s. could actually do to the turkish economy. well look there's any sanctions usually from the point of view of political impacts the way they produce this is the rallying around the flag effect so even though the. electoral base has been suffering a lot in the recent months and devaluation of fear are in generally from rising prices but this rallying around the flag effect is going to increase at least in the short term or dance popularity and help him to put across the message that it wasn't his policies that are responsible for economic slowdown but the conspiracy from the west but it all depends how long those sanctions are going to continue clearly turkey can withstand in the short term they cannot make impacts but the

sanctions if sanctions are going to deepen and extend over significant period of time. or political base is going to suffer and his political popularity is going to start to decrease. a joint report by a german newspaper seductress site on german public broadcaster w d r in the new york times on dubious business practices adored the german flagship lend gave expensive gifts to senior chinese officials at a time when it was trying to establish itself as a major player in china's financial industry just as the events date back as far as 2002 and has been dealt with. form of deutsche bank boss here so far c'mon like to meet with influential leaders in 2002 he met with chinese president jiang zemin for this musing torture bunk reportedly paid $100000.00 to a consulting firm at the time that according to an investigation by the german media and the new york times in addition a chinese executive of georgia bank so to have given influential chinese people

gifts such as a crystal tiger worth $50000.00 and high quality stereo equipment and paid from the actually travel the americas also said to have hired hundreds of rather to observe influential chinese people. giving. giving a gift to a civil servant is a typical case of bribery in public transactions. the hiring of someone's child is no different to giving such a gift a yes of our command says in response that he didn't know anything about all these things according to a probe of the us federal communications commission the bank ended this practice in 2014 german investigations have not yet taken place if i want to know why i see an american north already investigating problematic boychuk bank transactions in china and i don't see the same action in germany i think german authorities still have a lot of work to do there's no doubt your bank says it has improved policies and oversight of its business activities in china. laid off another $350.00

employees it's the us right headings this is 3rd round of firings in a letter to employees a c.e.o.'s. shot he described over situation as difficult for us all so far but has cut almost 1200 jobs chef process up plummeted since it made its debut on wall street in may the job losses will hit mainly the food delivery service but it's self driving costs and performance marketing. that's a business update here on g.w. from me and the business asia team in berlin thanks for watching.

i'm going to gather for a buyer and a high flyer for germany's national team good luck with him it will be previously played that's right settle a man where josh sargent is in the starting blocks and ready to go and play. 90 minutes. to new zealand and justice and freedom the 1st words of the german national anthem and the 3 central valley was that formed the foundation of this country how have these values developed an emotional journey home hard is it to live by and defend the principles of unity justice and freedom in our everyday life. our german history syria starts october 21st on d w. looks of it going to play you

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lives. this is deja vu news line from. turkey ignores u.s. sanctions and presses the has with day 7 of a top fence of in northern syria but russia says syrian government troops now control the key town of money as they seek to contain the turkish assault. the chief of bug areas football federation resigns the day after racist abuse of england players overshadows a euro 2020 qualifier the players were subjected to monkey chants and nazi salutes from the stands the incident.