and if i don't they'll kill me. people feel for their lives and their future so they seek refuge abroad but what will become of close christie behind it simply our capital my husband went to peru because of the crisis that obama did that if he hadn't gone there we would have died of hunger. just this week. stops and all crosses a heading south as investors are getting more and more nervous about the scale of the corona crisis virus crisis and its possible impact on the global economy also coming up with the european union and china joined forces with 15 other w t o members to keep the bodies appeals court alive despite u.s.

action to block it and how the system of microcredit designed to help the poor can easily turn into a debt trap. welcome to do business life from berlin i want to go jones good to have you with us so asian stocks started the week down on growing concerns of the scope of china's spreading virus outbreak japan's nikkei average suffered a steep 2 percent loss the biggest one day fall in 3 weeks however many regional markets including china were close to a lunar new year holidays australia was closed for australia day fears over the global economic impact of the deadly virus sent all prices plunging more than 2 percent on monday to extend last week's sell off of safe haven assets including the yen and gold rally. for more let's bring in our financial market correspondent chelsea delaney was standing by for us in frankfurt see markets opened in europe doesn't look too good right now does it. now it's pretty.

stocks across europe are down more than one percent here in frankfurt that dioxins down about 1.5 percent so these fears over the coronavirus and as you mentioned the global impact that could have are really weighing on on investor is there's a lot of concern about what it will mean for businesses to be to be shut down as the chinese government has the extended lunar new year so factories will be producing also people will be spending and this is an extremely important time for consumer industries for retail industries in china and across the world so there's a lot of concern about sort of the impact this will have as china takes these steps to quarantine to quarantine and stop the spread of the virus so while this. seems to overshadow a lot of market action what. to look out for in the course of the next few days.

there's going to be a lot of news this week i think coronavirus especially going to remain a big big driver of markets but investors are also going to be looking at earnings reports here and germany georgia bank will be reporting earnings later in the week but also all of the big tech giants from the united states so apple amazon facebook microsoft they will all be reporting earnings this week as well so that's going to be driving market mood and there's also a course on friday the very long awaited day of the u.k. will be leaving the european union what this really means for investors it's not clear yet because it doesn't really change much as they go through this transition period but definitely going to be. a focus for investors so the emotional day there just a delay in reporting from foods thank you so much. u.s. electric car maker tesla has applied for german state aid to help fund battery self reduction and research as according to german media reports the e.u.

recently made 3200000000 euros in subsidies available for electric battery production in germany and 6 other member states tesla recently announced plans to build a major battery factory at a site in green hided that's me. however neither tesla nor the german government top so far commented on the reports. boeing 777 x. completed its maiden flight this weekend passenger jet took off from a boeing production facility near seattle and flew for nearly 4 hours the 777 x. is the largest twin engine jet ever built requires less fuel than its humpback predecessor the 747 a successful flight provides boeing with much needed lift ahead of its quarterly earnings report on wednesday analysts forecast a multi-billion dollar annual loss due to twin 77 max disasters which killed 346 people

a model has been grounded since march of 2019 as regulators address safety concerns . now there's been a slight change that the federal aviation administration says that it could approve the grounded boeing 737 maxes return to service before meet the year than expected the f.a.a. described boeing's mid-year timeline for a return to services very conservative boeing stock rose sharply on the news shares had for an early on reports boeing was mulling more cuts to production of its 787 dreamliner. last month the watch trade organizations appeals court for dealing with trade disputes effectively collapsed when the u.s. blocked the appointment of new judges to it when now the here opinion union china and 15 other countries have agreed to create an ad hoc appeal body to overcome the u.s. blockage and to continue to have access to an impartial and high quality dispute

settlement system. amid the snow capped peaks of devils last week something of a thaw set in on the chilly topic of world trade several countries trade negotiators met at the annual world economic forum gathering to agree a way forward for the w t o system for settling international trade disputes when the us blocks the appointment of new judges in december to the w t o's body the supreme court of trade dispute appeals that body ceased to function but the e.u. has managed to agree a temporary dispute settlement system with china and 15 other countries including australia canada says korea and brazil w t o head roberto azevedo said an overall solution was still being soft but that the temporary arrangement would work for now. there were trying to fix it we're talking but we're not quite there yet and some members have conversations about

some form of a multi-party interim arrangement that would allow the deals to close and for those who want to participate in that arrangement. washington has lung taken issue with the w t o appeal system has not signed up to the new arrangement neither has japan or russia. for more i'm joined the office element from d.w. business how strong then is this new alliance well in the context of world trade monika it's quite strong so if you look at it very quickly when the u.s. as the report said blocked up the appeals process last december the e.u. had already done some work to set up this ad hoc court essentially it had already agreed to deal with canada and norway and then last week in davos it got several major countries involved so the big one obviously is china so between china the you that accounts for a major portion of it on top of that you also have some major players from the asia pacific region singapore australia new zealand south korea and then several large

central and south american economy so mexico colombia cheeta brazil so it's quite a significant group in opposition to the u.s. blockage and while it obviously doesn't it's a temporary arrangement as the european commission said and if it doesn't have for example the u.s. obviously involved most of japan and russia so it doesn't really solve the overall problem but it is significant in the context of last month's blockage and it doesn't really sell the overall problem that the w t o has to say no no it doesn't i mean the european commission of been quite clear in their statements since this committee was or this court is this ad hoc court has announced that it is a temporary arrangement w.t.f. problems extend far beyond the blockage of the opposite body and the e.u. and the us are in largely or largely in agreement on the books there is talk of reform and indeed last week donald trump had a sort of impromptu impromptu press conference with roberto azevedo the director general of the w t o and in the press conference from both in his words very dramatic reforms that were coming as if it was somewhat less dramatic in his words but there is talk of

reform coming so it's taking a surprise probably a solid front for business thank you so much for this. microcredit designs to help the poor enable them to build a life for themselves by providing small low interest cash injections to new businesses but recent studies show that this much price system of micro credits can easily be abused or reported takes us to compose where millions of people have taken out micro loans with many falling into a debt spiral. every time naomi young turns on his water pump he's reminded of his 1st microcredit he bought the pump with a $200.00 loan from a micro finance bank. he thought that the pump would help him irrigate his rice paddy giving him a better harvest and more earnings so that he could quickly repay the loan. it was a good plan but then the rise in prices dropped. the expected profits vanished and

today naomi young is broke and can't repay the loan. i don't know what to do i'm not earning enough money but i work hard every day to feed my family but i'm more and more in debt i don't know how to escape it. he had to offer his land as security for the loan if he can't repay the loan by the end of the year the bank will take his rice field meanwhile he owes a total of 5400 dollars to several micro finance banks that's what most cambodians earn in 2 years. it gets me down i feel under pressure i'm scared i'll lose everything looking back

i was much better off before the loan than today our life was better than you like the animal. when i could get what i thought. and i thought. and he's not the only one who feels that way not only in his village but all over the country nearly 2000000 cambodians have taken out micro loans and hundreds of thousands borrow money privately. the capital phnom penh is the booming economic heart of the country its standard of living is rising rapidly and many people who would like to be part of it are easy prey for unscrupulous micro finance institutions. many banks don't even ask clients for a business plan sales reps persuade people to take out a micro loan because they get a commission the uneducated borrowers don't understand the terms of the loans but with their signature they take the 1st step into

a debt trap. and i become. more and more micro finance institutions are appearing they're practically unregulated and the ones who pay are the ones who have nothing like rice farmer near me on. his attempts to get out of debt are becoming more and more desperate now he's planning on driving his use took took as a taxi maybe he'll have more luck with that than with other business ventures he can only keep struggling and hoping. and that is your business update here and at this hour from me on the business team in berlin thanks for watching the for.

the 1st time to take one step further. and face the. target to search the. truth. it's time for. coming up ahead.

welcome to the girl max newton channel. goldmine of stories. with exclusive insights. and a must see concerning startup culture in europe. a place to be for curious minds. do it yourself networkers. so subscribe and don't miss out. suzanna one claire is a foster mother for a children's village in southern germany she has 7 foster children living with her and raised 3 of her she feels being a children's village mother is her calling. captured us but i believe you're an s.o.s. mother all your life you'll always be one and they say you take your leave of the children but i don't know if you even can ask what is your how can.

i. hate s.o.'s parents live together with their foster children at the hole in law children's village each family in a house of their own children who are unable to stay with their biological families for whatever reason find a new home here. area that's. the idea for the s.o.'s children's villages originated in austria and spread around the world now there are a children's villages on 6 continents suzanne has been an s.o.s. mother for 16 years the 1st of her foster children have grown up and are getting ready to move out how hard will it be for her to let go she's devoted her life.