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tv   Business  Deutsche Welle  October 19, 2019 1:30am-1:46am CEST

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every journey begins with the 1st step and every language with the 1st word published in the group. is in germany to learn german and why not with them simple online on your mobile and free from d w z e learning course nikos free german made. for us tariffs this time not for china but europe the transatlantic trade or airplane subsidies takes office billions of dollars in u.s. terrorist specialty exports by wind machines or have also coming up g 20 leaders discuss new forms of digital payments but a watchdog group warns even alternatives to bitcoin could hamper the fight against money laundering and terror financing and why british art galleries are setting up in paris we take
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a look at the golf game exhibition. i'm chris cuomo welcome to the program a new round of tit for tat tariffs the united states has begun imposing levies on 7 to have $1000000000.00 worth of goods from the european union the world trade organization approved the punitive measures for subsidies that the e.u. gives planes yes originally went back to the w t o back in 2000 for the duties of a long list of products like wine cheese or ham the european commission has a list of counterterrorists it wants to impose on u.s. goods as washington subsidizes airbus rival boeing. now those new u.s. tariffs on e.u. products kicked in on friday let's take a closer look at how those duties of 25 percent of agricultural products impact one of france's most popular exports why. in the beaujolais vineyards this year's harvest has been better than expected despite the frost and drought now it's time
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for a final taste before the wine is released to the world this year success some traditionally its biggest export market the u.s. is by no means guaranteed that for the folks and that is the 1st time that we've had a 25 percent increase in one go is a bit of a sucker punch. dominique gets 10 percent of his turnover from the states he's relying on good relations to keep importers on side in another famous french wine region makers of burgundy hoping their reputation for the highest quality will see them through the tariffs cut to bone for example is known to connoisseurs around the world. your wine industry offers more and more interesting products from more and more countries so we can't predict how american consumers and american traders are going to react to such
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a sharp increase in prices. that a failed attempts to get the start date of the tariffs put back wine producers have to adapt to a tougher route into the american market. well for more let's cross over to our finance correspondent in new york sabrina kessler subpoena these levees are intended to hit the makers of french wine as we saw scotch whisky or italian she's how are u.s. consumers responding to the measures. so it's more than clear that these measures will make a range of european products more costly for you ask consumers a plate of cheese for instance that currently cost you about $45.00 will put you back 60 dollars soon having said that the u.s. carries appear to be selectively chosen to hit premium items that while here us consumers could continue to afford even at higher prices but still if you have
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a look at mainstream society people will definitely be hit in their pockets as soon as the current stock of products are sold out and products with tariffs ah put in place now the european union has already said it would retaliate and may win the right to do so next year when the w. 2 is set to rule on illegal usa for boeing are the 2 sides likely to try to resolve this dispute before it comes to that. so brussels has consistently communicated that the european union is ready to work with washington on a fair and balanced solution and also rather light ties of the u.s. trade representative said the u.s. is aiming at resolving this issue but we all know donald trump and his preference for pressing hard so as long as we don't see any concessions from the european union trump will stick to his guns and may impose tariffs on european cars for instance sabrina kessler reporting from new york's arena thank you.
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now the spread of currencies could have serious repercussions for worldwide efforts to detect and stamp out money laundering and terror financing that's according to a paris based financial action task force the topic was on the agenda of a g. 20 meeting at the international monetary fund in washington on friday many of those leaders have expressed growing unease about the spread of unregulated cryptocurrency political and financial leaders back to the idea of the introduction of so-called stable coins as a possible alternative. a washington correspondent problem of fully elite has more on this story pablo what exactly is a stable coin and how does that differ from other cryptocurrency. microsoft well stable coin has many elements of crypto currency in that you've got
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that ease of transaction the privacy which comes with the crypto currency out there but the big difference is that stable coins it says it in the name gives a level of stability because it's often pegged to for example a commodity in the sense a could be pegged to the price of of gold or it will be pegged to a currency fee a currency of course being for example the euro the dollar or the yen and and of course that is the big difference because let's not forget that crypto currencies come be quite volatile and the aim of this is to stabilize the value of this stable coin. but the spite this aim of this currency being more stable it's not like there wouldn't be any criticism about it. no you're absolutely right i mean today i was you know a meeting here of the g 20 finance ministers they gave their evaluation and after a meeting which was held earlier today here in the building behind me i'm going to
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read a quote from them and it's quite telling because what they say is that the global sable coins and other similar arrangements with potential system systemic footprints give rise to a set of serious public policy and regulatory risks they went on to say you know it can cause some concern because they could be used for money laundering illicit finance and consumer and investor protection need to be evaluated and appropriately addressed before these projects can commence operation that gives a very clear answer to everybody what their opinion is they want to look at it when questions were put to the japanese finance minister in fact who had come out of that meeting and answered questions he was very hesitant to really say whether they were going to approve or whether we're something that they grieved with they said that they needed to look further into it before as you know stable coins will become something that we're going to be using more and more and facebook rolled up its cryptocurrency liberal which some consider
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a stable call and when will this become a common method of payment. well that's the $1000000.00 question there christophe because i think in some ways what the g. 20 statement said sort of answered that in many respects they said they wanted to evaluate it it's meant to come in in the middle of next year but it looks like that may or may not happen at the moment and the g 20 finance ministers made a very clear like i said they want to evaluate the situation more look into it more and then they'll make a decision down the line pablo foley is reporting from washington they're probably thank you. now to some of the other global business stories making news police have clashed with protesters in lebanon demonstrating against the government's handling of a financial crisis countries because protests and years were triggered by plans to impose new taxes they continued despite the government announcing it was scrapping a new tax on what a calls after days of rolling power cuts south africa has unveiled its plan power
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plan for the next decade by 2030 coal is slated to fall from 80 percent of the power makes to $59.00 and wind and solar power well together jump dramatically to supply about a quarter of national power output. france has opened its 1st ever floating solar energy plant which is also europe's biggest the 47000 panels on a large manmade lake generate enough electricity to supply almost 5000 households operator cool energy says the floating panel concept could produce enough electricity nationally to supply 3000000 homes. now the uncertainty about the time and manner of britain's withdrawal from the european union affects all sectors the art world is no exception artworks have be a kind of unofficial wealth storage facility in recent years with prices for some
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masterpieces into the hundreds of millions so what about london's renowned art world well like the banks a lot of them went want to make sure that they're able to trade with the european union after brags that so many have high tailed it for paris galleries david still another launched his new space in the hip monday district in early october timing it with the international contemporary art fair at the compound a the f.i.a. see. it's grown from a local affair to a prestigious event featuring $178.00 galleries. but we have a lot of french clients and the moment was right so also with what's happening in the u.k. we have yeah the european outpost here is as important to the gallery as well. the arts sector has joined the multitude of businesses worried about the impact of brags that the white cube gallery with branches in london and hong kong will be
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opening a space in the matter in your district of paris next year. let's address some pretty common worked out the political situation in england has not improved through the past year so actually having a foretold in continental europe is an advantage for a gallery like ours or to get a government. breaks it would also make moving artworks back and forth between britain and europe more costly and time consuming one gallery said if it gets too inconvenient she would close her london operation. that's a show thanks for watching a very. sitting
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room. a long conflict in the philippines. between the muslim and the christian population last play as fighters occupied the city center until now 17 president to church's response was called. during. the game. conquest
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turned into tragedy this is not the kind of freedom that we want. how did we become a gateway to islamist terror. an exclusive report from a destroyed city. phyllis in the sights of i.r.s. starts october 24th on d w. coach of a. good link to news from africa. or links to exceptional stories and discussions. from the news as easy and white with safety deputed comes much traffic join us on facebook at g.w. africa. with him how to be gun did go sutlers were biased i know if i had known to the boat i would be that small i never would have gone on the trip you know i would not have put myself and my paris on time dangerous but it's the theme of the whole thing to give a flavor with. that one they're willing to give them i had serious problems on
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a personal level and i was unable to live there but much i'm going to. want to know their story in full migrants terrified and reliable information for migrants. a very warm welcome to news from the world of arts and culture coming up in the next quarter of an hour germany and its former colonies are cooperating on the return of looted up from colonial times. talk of climate change is on all our lives and a frankfurt book fair climate fiction is booming. and will be strutting down the paris catwalks to see all the latest polls from winter
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fashion trends. in recent years there's been lots of talk about former colonial powers returning cultural gems mostly taken from africa that were looted in the 19th and the beginning of the 20th century in germany's case we're talking about thousands of objects currently in german museums that were mostly taken from namibia which was a german colony until 915 the namibians want what they rightly considered as return and this week germany has created a central office to deal with the restitution of such cultural abbots assets not only for the maybe but it is then that the wounds of the colonial rule of the deepest. the german colonial era has left deep scars in namibia artefacts from that country are still held in german new zealand's including the remains.

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