laughs all right stay tuned for d.w. business with kris kobach up next and don't forget you can get all the latest news around the clock from our website it's called i'm told me a lot of thought in but i'm back at the top of the hour. every 2 seconds a person is forced to flee their home. the consequences have been to sisters our documentary series displaced depicts dramatic humanitarian crises from around the world. forgetting we don't have time to think i didn't go to university to kill

people. i mean a handful of people feel for their lives and their future so they seek refuge abroad but what will become of followers who stay behind and simply. my husband went to peru because of the crisis that if he hadn't gone there we would have died of hunger i'm gonna down. displaced this week long to. the new coronavirus reaches your friends come farming several infections with experts saying war are likely to fall meanwhile chinese of the forty's are quarantining cities and tourist attractions trying to contain the deadly virus also on the program as the davos meeting comes to a close we look at what this year's forum. sheaves in terms of the big and powerful

taking responsibility tackling climate change which. i'm critical of the program the new coronavirus is advancing the government in paris confirmed that several people in france have been infected the u.s. also announcing another case meanwhile china where the virus originated has quarantined cities stop public transport in many places and shut tourist attractions like disneyland or the forbidden city this as the nation prepares for the lunar new year festivities a crucial time for business you know many chinese citizens are rushing to the supermarkets to buy food and daily items and book shelves stocking staples such as meat vegetables and instant noodles are emptying as people prepare to stay at home and avoid public places for as long as possible companies producing face masks are working 247 to help fight the spread of the virus many here at the factory in the

city of john inger working overtime time i want to support to hunt the epicenter i want to help all the people there. is just one of the 11 chinese cities now in virtual lockdown recessions have been shot and there are checkpoints on main roads in and out the streets are empty except for those working on disinfection everything that can be is being disinfected. when sars broke out in china in 2003 it cost the world economy $30000000000.00 according to the world bank back then flights in the asia pacific region fell by 45 percent from the year before and almost 800 people died many fear the coronavirus could have a similar effect if not contained from or let's bring in wholesale who is they are on wall street. markets have been spooked all week that this virus could grow into a major international problem and it seems to do just that.

exactly having more than 36000000 people on lockdown and new cases confirm is definitely taking aim investors say confidence and some of them wrong to fork over into u.s. treasury bonds so that's why do you fold to 1.6 percent sending it bag stocks down also some household names here on wall street such as disney are taking a hit especially after the company announced the globes you know. it comes also at a time over a particular substantial traffic but also the time. been falling since the beginning of last year my donuts also has over $2900.00 restaurants in china and its shares closed lower to now despite the concerns that many in the travel industry also have about the coronavirus boeing shares saw a major boost on friday what was behind that. there was another

rollercoaster of a day for boeing shares shares went down were down after us media started reporting that the company could cut production again on its $707.00 dreamliner but being say change that u.s. regulators were pleased with the progress the company's doing in revising its $737.00 marks now the. plane approval to come early and that means that said most of them already took out all their schedules until the summer or after and it's not only the u.s. regulators but all those around the world which also have to give it the green light for the plane to fly as they lose their own new york thank you. and now to some of the other business stories making news german a carrier condo or is being bought by polish airline lot that's according to the company on friday last year kondo received

a financial bailout from the german government and form of a 380000000 euro bridge loan that helped the airline break away from its floundering parent company thomas bunch a bank has added a former german foreign minister to its advisory board seat my god leo also served in the environment and economics ministries and led germany's social democratic party until 2017 struggling with post crisis changes in the financial industry dogshit post of losses of almost $4000000000.00 for the 1st 9 months of last year the founder of us pharma company insists therapeutics john kapoor has been sentenced to 5 and have years in prison prosecutors said kapoor and others paid millions of dollars to doctors to prescribe a highly addictive oral fentanyl spray the opioid crisis in the united states has claimed tens of thousands of. french unions had lasted strikes and protests as the government unveiled a divisive bill redesigning the retirement system meant more disruption for travels on trains and the paris subway there were walkouts of some schools the number of

striking workers fell this week after the government made concessions. well friday marked the final day of the annual world economic forum meeting in davos the event turned 50 this year and celebrated by putting a younger generation front and center their edge and see over the climate crisis drove much of the event and created some dramatic contrasts with world leadership. young activists like gretta tune burge stormed into davos planning to force through their message that change can't wait this was more than any other a world economic forum led by the world's youth the other generation has a lot of experience but we have ideas we have energy but for those hoping to ensure an adult hood of environmental progress the forum got off to a bad start on day one president trump decried them as prophets of doom and instead chose to talk about a growing u.s.

economy america's thriving america's flourishing in years america is winning again like never before the disappointment was clear i didn't hear anything about the world america is leader in the world and. i think that litters have to take care not all about themselves but also about other nations because we have the same collective planet since then the town of davos is witnessed more assertive environmental statements urging corporations and nations alike to wake up to the challenge the world is facing it is absolutely essential to recognize that climate change is an existential threat to us all and if climate change is running faster then what we are in day 3 so anglo-american push for renewed global commitment to the paris climate accord. with oil that you know that this is in fact the world must act together it's an international agreement that unfortunately not

everyone is still with it but many are but it also means above all that every country must make its contribution and buy it back that's why it's most young delegates began the forum complaining that previous pledges had been all talk so pretty much nothing has been done since the global emissions of c o 2 has not. reduced leaders must now make good on their davos promises because an impatient younger. ration is watching. so change seems to be in the icy alpine air in davos where the powerful and influential have been meeting for decades people like nobel prize winning economist joseph stiglitz our very own ben fizzle and asked him how different this year's world economic forum has been for him. it was different in 2 ways i think the sense of commitment to climate change the sense of urgency was much greater than i've

seen before. and this is true not only of civil society government leaders but also in the business community some real real commitment the other striking thing was the dissonance between. the theme of the conference stakeholder capitalism workers environment customers a broad perspective and having donald trump here. you know they talk of he said he was helping the middle class as he passed a tax bill that raised the tax on a vast majority of the middle class well it lower the taxes on the billionaires here and on the big corporations here that said we'll stakeholder capitalism and catch on will we see action. i don't know i think there's obviously a rhetorical flourish in the united states there is. understandable

defensiveness because it's very clear that the shareholder capitalism has led to an environmental crisis a a inequality crisis an opioid crisis a childhood diabetes crisis all these things financial crisis all these things that are going wrong with american capitalism. capitalism is not serving large fractions of our society and they know the american people are unhappy it seems like the u.s. is the problem i mean china's leading the way as far sustainability goes so many other companies around the world making their pledges here but we don't hear pledges from the u.s. oil majors or from mr trump i think there is a sense in which the u.s. is is the problem let me emphasize though it is. mr trump that is overwhelmingly the problem i believe if we had a different administration these business leaders who are less leaders than they

might be would follow new administration with a new commitment to address these crises which are not only american crises been in various forms our global crises is the sickly it's thank you very much thank you nice to be here. economist joseph stiglitz speaking to w.'s and friends alone and davos there and for more of our coverage of this year's world economic forum and all the other business news you can go to our web site that's v.w. dot com slash business i'm chris colburn reeling from me and the entire team thanks for the company and enjoy your weekend.

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