tv Business - News Deutsche Welle August 14, 2020 8:15am-8:31am CEST
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germany. where exactly. is fun money lost cars culture history. travel extremely worth of it. there is no cash for a comeback chinese consumers fail to shake off where no survivors are coronavirus and it's not only july's disappointing retail sales that have asked for is worried about the nation's economic recovery also from. we'll tell you why force gold is struggling to cope with a wave of waste. i'm chris cuomo welcome to the program richard figures in china for the 7 months in a row as the pandemic continues to us. consumer spending in the country where the
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crisis began purchases of goods and services for 1 point one percent year on year in july that is worse worse than expected however the countries in those who are put jumped by nearly 5 percent compared with last year the government has put its stimulus money into the sector to get it moving again. for more let's bring in katherine young of fidelity international hong kong and our financial correspondent on a device by her in frankfurt welcome to both of you catherine let me start with you chinese consumers still cautious is what's behind that interestingly when we do look at the demand side of the chinese consumption story there are pockets which are in fact doing quite well so for example we also stick to especially the premium brands like b.m.w. lexus seeing increased incidentals but as you rightly pointed out it's not across the entire consumption and services sector so probably going to see some more
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tweaking when it comes to policy just to ensure that this demand does pick up and if the frankfurt our markets is reacting to these figures. but actually they are not reacting very positively obviously the chinese consumer is paramount also for companies in the west such as comic as 5th been hearing from the likes of but also apple recently that they actually do see a optic in demand in china and they have been trading op on bad news so i guess we need to have more ways ability in muscularity how the chinese consumption story bill and fold catherine it is not only consumers that have been costs is the factory sector is also struggling to gain real momentum how much of a threat are these factors to trying his recovery. well in terms of usual ization rates we did see them go back up to 8090 percent levels at the end of the 1st quarter in fact lies ation is looking somewhat attractive more attractive than as
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we've just been talking about the consumer sector if we look at china as a whole though in the markets and using 3 drivers at the flattening of the code because of the pace and sustainability of an economic recovery and indeed policy implementation direction china for us still gets 6 in all 3 categories or problems and in fact we still think that over the longer term medium 7 short term from an absolute and relative perspective china is still going to do very very well as others so catherine is china going to be the main economy to pull the world economy out of this pandemic slump i don't think it's going to be like what we saw in 2008 where we saw such large amounts of stimulus being thrown into the chinese economy and as such that you know underpins a global recovery what we are mindful of is that the export decided that the global to mine not it might not even pick up to the levels we have seen in china and of course to politics is also weighing on investors' minds so in china we are now
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hearing about this jewel circulation policy which is about really ensuring the consumption story picks up domestic demand but also ensuring there's no not too much destruction i'd say in terms of china's supply thing and that's a better year frankford what our markets are expecting needs to be done to prop up growth in china. well markets always like most of them a list by the remains to be seen whether we get more for now one can also argue that the chinese stimulus package it's not so much a what's the consumer more towards the industry because it's mainly focusing on infrastructure spending and actually if you look and dash of production and the fact that from that's the year of the economy it rather looks like a we shaped recovery not so much when it comes to consumer spending so i guess for now we are not going to get more a stimulus out of china just on the back of that kind of week we.
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say it's about the markets now actually looking to the united states because here we are expecting some agreement on more stimulus and also today later on we are going to get the retail sales numbers for the month of july that is where the market is actually now focusing on and covered back to you in hong kong this sort of 2 track path we're consumption might be not able to keep up with the rebound in other economic sectors is that a likely scenario of how the world economy is to recover as well a likely scenario for the world but don't forget from a policy perspective that p.b.s. is still has a large tool sets so they are tweaking this sort of bucking the trend of us into this in terms of storing everything situation at once and don't forget the chinese household still remain robust in terms of the savings rates and so in general it's just ensuring that the pent up demand story does unfold it's ensuring that all
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countries that there is a healthy labor market because people there from a man who's in the jobs they certainly are going to spend present in hong kong another vice both in frankfurt many thanks to both of you. now to some of the other business stories making headlines around the world u.s. media reports that google will stop responding to data requests from authorities and on kong and will be treated the same as mainland china the move follows beijing's position of a new security law in the territory washington has been heavily critical of that new law germany's finance ministry has denied allegations of insider trading at the financial supervisory authority to ministries said an increasing number of trades in bankruptcy this is a provider of wire card by employees at the authority were not unusual compared to other volatile stocks. for years germany shipped its ways to china but 2 years ago the chinese stopped accepting the trash since then the
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garbage has been shipped to other countries including portugal but this as you can imagine has also led to problems. margarito dottie's property may seem a deal like but looks can be deceiving a penetrating odor was from the garbage dump about 500 meters away when she 1st moved from lisbon to ours and boucher doughty thought country life would be different. she says that her life and the air she breathes have been plagued by the stinking hape. heat for it's a cause for hope but what worries us is that the terms of waste that have been dumped here are polluting the ground we're also afraid that the water will be contaminated. bassett's visit that will leave for environmental activist antonino pyrrhus giving permits to trash dumps next to residential areas is inconceivable but he also criticizes the garbage imports from abroad which have been increasing for years portugal may have doubled the fee for
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a ton of ways from 11 to 22 year olds last month but for many people that still much too cheap. to keep if it costs about 20 year olds to store garbage here but in other e.u. states it's about 100 euros then everyone wants to send their garbage to us. portugal's recycling system is also a weak point that draws criticism even though it's supposed to be a large part of the waste is not get recycled instead it ends up on garbage dumps or in one of more trickles to incinerator plants. presently portugal recycles more or less 22 percent of its municipal waste from our household and we have to achieve a target in 5 years 55 percent of course we don't expect to achieve that target portugal's policy on solid waste urgently needs to catch up the government has temporarily stopped garbage imports from other states until the end of the year but
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margarita darty complains that that's no solution to the problem but a mere deferral. while there is no economic sector that is as important to spain as the tourism industry more than 80000000 visitors came to the country in 2019 now with coronas travel restrictions many people still feel anxious about cross border travel 2020 visitor numbers will only be a fraction of last year's forcing the sector to do some serious rethinking. coronavirus still dominates everyday life in spain including for hotel utah my oh honey and i'm glad our occupancy is lowered his family hotel minorca that's good for guests who can take advantage of the extra space but it's a crisis for the hotel. thing for us is that there was a time that. we have more constellations the new reservations the figures for july are bad and we have to wait and see what happens in august. but i think. the hotel
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has room for $900.00 guests but there are just $100.00 there right now tourists who come to minorca are looking for a different kind of accommodation something more individual you feel safer just a few 100 meters away alex gonzalez is showing this holiday home snuck away in a small complex his office looks after 124 apartments and houses the house is not occupied right now but that will change soon. i mean the whole idea that i'm going to accept that they were july we expect to reach a capacity of 70 to 80 percent going up to 75 to 80 percent in august. and who knows maybe we'll even hit 90 percent of our fee and go. to reserve voiding crowds hotel operators know this and are doing what they can to keep them safe. on the costa del or lose in head as the front had a wholesale you'll be on the road to promote his product it's
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a wife i am going to fire but it can do a lot more. and liberal democrat or not and we developed a technology called location underlay 6 if we can use the wife i signal to see how many people are in an area whether there are too many whether they're only there for a short time or for a longer period a while but what the employer if it out the seville company's technology is already being used not only in hotels but also at pools and even on beaches. and there's a whole democratization mass 4 to 6 weeks thing that really got going suddenly a lot of companies were coming to us because they realized that they have to adjust to the new situation. for some it gives a sense of security but many european tourists still don't want to come on the beach it's mostly just locals and spaniards to be found. salvador lay on sees the same on the costa del sol he's run a beach restaurant in tar molina's for 47 years and never before have there been so
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few german or british tourists for the game a short time here to believe the end a lot of foreigners own apartments here from many countries eat i.e. but at the moment maybe only 5 percent here are foreigners and they don't hate. all that's left of the season of the month september and october but one thing is clear despite the billions in aid many companies will not survive and many spaniards will lose their jobs. and that wraps up our program as usual you can find more on our social media feeds i'm chris cuomo and roland thanks for watching ever suffer a successful.
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is on its way to bring you more conservation. how do we make similar screeners how can we protect habitats we can make a difference. mind geno's mental series again global 3000 on g.w. and all mine. hello and welcome to focus on europe with me liz show europe is fighting the cold in 1000 pandemic and while the focus has been on preparing for a possible 2nd wave of infections little attention is being paid to the rising number of migrants arriving in southern europe from africa. most of them start their journey across the sea from tonight.
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