germany's landscapes the country. this is a business. the chief of the international monetary fund trade tensions and resulting uncertainties could shave off nearly one percent of global gross domestic product by next year the global economy is in a synchronize downturn crystalise said at a round table discussion with chinese premier league 90 percent of the world's g.d.p. is slowing with last year well chief david urged china to further open its economy state subsidies and allow the market to play a more decisive role to help stem the doctor. now the e.u. singapore free trade agreement goes into effect today now that the long awaited bilateral deal is operational the partners will begin to phase out trade that areas it's the e.u.'s 1st trade agreement with

a member of the association of southeast asian nations or a group of countries in the in the region that have teamed up to promote economic growth the deal aims to eliminate most arrows within the next 5 years sections of some fisheries and farm products bilateral trade in goods alone between the e.u. and singapore amounts to $53000000000.00 euros a year it's hoped the agreement will result in a rise of up to 10 percent in trade the e.u. is already singapore's most important export destination for services singapore is one of the e.u.'s latest largest trading partners in south east asia now let's take a closer look at the matter with kevin haydn of irish he's with the association of german chancellor of industry and commerce and joins us in the studio now kevin this is the 1st race of the u.s. planes with. member why singapore or singapore is a very small country if you look at the size of the population but in trade volume

it's pretty significant for german companies it's roughly 15000000000 euros that they trade with singapore every year it's you can compare this to canada i would just like a bigger country and so it is pretty significant there are also around $1600.00 german companies in singapore and they use it as a hub for other countries in asia so it's pretty important for time companies which which sectors are we talking about that will profit from this deal the most well there's already a lot of trade between germany and singapore as specially cars machinery but also renewable energies or sector all of medical devices for example they will all benefit from the open market and from for trade. in times over u.s. president that is really have. a free trade a verb of free trade our priority for the purpose of export oriented companies in germany others shifting towards asia asia is already very important that is true

but this trade agreement with singapore small is sign of like what we can achieve with free trade agreements because as you say right now we see almost every day new trade barriers coming up we have a weak w t o that is used to be the rule set up for the trade so we need these bilateral agreements with other regions of the wallet so that german companies can trade with other areas of the boat and have open markets because that's what the german economy depends on. a minute ago you see a post pm has said he hopes the deal will lead to an agreement with the all asean region how likely is that well that's the goal we have singapore now we already agreed on a dream and with vietnam that still needs to be ratified we reckon with indonesia on an agreement but the goal is of course the odds are in countries to have you oz in agreement because the asian countries get more interconnected as the trans-pacific partnership already it is there are c e p with china which is

a really big economic zone so the european union and germany of the companies they need to step into the asian market kevin have not thank you very much. police in malaysia say they've broken up a massive investments syndicate being run out of china police arrested $680.00 suspected telephone falsest during a raid of the groups at courses around $100.00 suspects managed to flee the scene more than 8000 mobile phones were seized in the operations. investigators believe the detainees are chinese nationals who were running a telephone scam targeting victims in china. now let's have a look at some other business stories making headlines today the telecom will face all of huawei technology over the next 2 years and that ongoing discussions of security issues with the chinese company that's according to

a german magazine german magazine. telecom has not commented publicly on the report which cites unnamed company sources. who are way higher as a canadian courts to immediately stop the attempt to extradite its detained chief financial officer when one jolt to the united states weighs at the center of the us china trade conflict as the daughter of the company's founder was arrested. really a year ago. general motors says it's seeking substantial damages from fia chrysler its father record tearing lawsuit and alleging its rival bribe union officials for years to corrupt the bargaining process g.m. says it could cost billions of dollars says the lawsuit will have no effect on his plan with persia. climate

change and the policies to mitigate it will make the world a poorer place in 2050 that's according to a new study by the economist intelligence units that scored more than 80 countries on their willingness and ability to confront global warming let's have a closer look at the study overall the global economy will be 3 percent smaller than the baseline for cost developing that nations will be worst hit the asia pacific region could see a drop of 2.6 percent in g.d.p. is particularly vulnerable to the loss of physical as well as natural disasters could grow in frequency and intensity but it is africa that is most likely exposed to the in fact of most highly exposed to the impact of global warming largely as a result of under-development economy that is focused a contract by 4.7 percent and unsurprisingly which regions are most resilient the us and western europe can expect contractions of $1.00 oil and 1.7 percent

respectively the report zooms countries will make modest efforts to adapt and mitigate the impacts of climate change now let's bring in the author of one of the authors of this report john ferguson he is with the economist intelligence unit and joins us now from london john we're talking about the world economy 30 years from now how accurate can those predictions be. excellent it's a great question with any forecasts there is uncertainty in particular when you go out 3 decades and climate forecasting and the economic impact is also on certain that we have built a robust model which used a sort of dos model which is exceeding quite a quite a high profile model in the field and we've adapted it with our own act trying to change resilience index but as you say any forecast does have uncertainty so the thing to realize from our study is that 3 percent and some of those figures that you just spoke of if we were to miss the we've we've we believe the impact actually

be higher than that we believe the risk to the club economy is higher than the nice because we just talked about it because of it because it has on certain days done is it just the balance of the damage that physically climate change will do or is it also the cost of actions that countries take to mitigate climate change. yeah there's a mix of things natural disasters the as you mentioned the severity and the intensity of those will increase there's also countries having to spend money countries given their sort of their plans that were great in the past on the court will have to put plans in place without good money down to adapt to climate change on city here in the u.k. for example and there's going to flood defenses being built and i'm sure sam's happening there in europe but the and that and that really points the difficulty to the developing world has. the figures so that it's less than might they will have to spend money really i can adapt their figures show that the rich western countries of course kind of fortified climate change and african and asian countries will be hit hard as i mean could one call that climate colonialism. well

i may not use that phrase that does point point to the major issues that we have to develop the world has been house to develop over the last 50 years or so in the developing world and trying to catch up and just as it's now catching up with a sign of climate change is going to make that even even hotter and just make one other quick point if the issues are not just about being rich and having money to spend it's also about the ability to increment policies and join act on those policies and we think the sort of the institutional quality of some of these markets of countries like angola for example there's a willingness to adapt to climate change but that some countries don't have the capability to adapt to climate change so we're talking a lot about the policy making global coordination and that's where the development would need a lot of help john ferguson thank you very much. thank you. talking about the economic consequences of climate change germany has committed to remodel as economy towards renewable energy and perhaps the biggest symbol of that is its

transition to green power and it's the wind turbine many thousands of these dots a landscape across the country generating a tricity and a lot of public and turbines are far from popular many say they are inefficient and at the same time spoil more and more landscapes and after a recent court decision germany might be running out of places to actually put them as the w.'s report on the iraq source found out. 206 meters high to catch the wind these turbines in the central german state it has to generate electricity for thousands of households and spitter frank built a small wind park for regional energy provider back in 2016 the. turbines were approved in record time inside 13 months we developed this project an agreement with the municipality for york. and the eels are good for years wind

power has been a profitable business. the german government is pushing to boost the proportion of renewables in the energy mix by 2030 when turbines are a major pillar of the strategy but construction has stagnated like here in the neighboring village of puts. in boats buffed the approval process to considerably longer because the environmental protection issues were more complex but we were in constant dialogue with residents and policy makers. in the end they were given the construction permits but the project has stalled. i said from me zain. probably more to.

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this is the w. news night from by donald trump insists he did not fresh a foreign government to gather dirt on his political rival i want justice i want nothing. i want so good pro quo. the u.s. . reads his reactions from a notepad following the latest explosive testimony of. the where the probe soon a winding down would have democrats trying to unseat him want. to gloss over fishing groups in georgia early election.