from the rooms that have yet to feel. what should be done with the still north from africa. this is being hotly debated on both continents. showing so little store september 7th g.w. . there is no cash for a comeback chinese consumers fail to shake of awareness about the coronavirus and it's not only july's disappointing retail sales that have experts worried about the nation's economic recovery also coming up the race is on for a covert $1000.00 vaccine and one german company that caught the attention of the u.s. president is now hoping for a lot of investors cash to fuel its quest and is one of europe's top holiday destination but spain is having to assure tourists it's doing everything to keep

them safe as coronavirus numbers drugs. the one welcome to the program reach a figures in china fell for the 7th month in a row as the pandemic continues to affect consumer spending in the country where the crisis began purchases of goods and services fell more than one percent year on year in july that's worse than expected however the country's industrial output jumped on you to 5 percent compared with last year the government has stimulus money into this sector to get it moving again. for more let's bring in katherine young of fidelity international hong kong and our financial correspondent. in frankfurt bunkum to both of you catherine let me start with you chinese consumers still cautious 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 the also 6 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 tweaking when it comes to policy just to ensure that the mom does pick up. and that's a frankfurt our markets is reacting to these things. but actually they are not reacting very positively obviously the chinese consumer is paramount also for companies in the past such as make 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 off bad news so i guess we need to have more ways ability in my clarity how the chinese consumption started a lot of fold kasserine it is not only consumers that have been cautious the factory sector is also struggling to gain real momentum how much of a threat are these factors to china's recovery well in terms of usual is ation

rates we did see them go back up to 8090 percent levels at the end of the 1st quarter in fact each line zation is looking somewhat attractive more attractive than as we've just been talking about the consumer 6 we look at china as a whole there in the markets and using 3 dr this isn't the flattening of the code because the pace and sustainability of an economic recovery and indeed policy implementation direction china for us still gets 6 in all 3 categories or prongs 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 this is others so it 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 minority might not even come to the levels we have seen in china and of course jim politics is also weighing on investors' minds so in china we are now 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 on its journey in terms of china's supply. and that's a better year for inferred what are markets expecting needs to be done to prop up growth in china. where markets always like most analysts buy they 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 fear 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 stimulus out of china just on the back of that kind of week we. say is that the market is 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 babis where the market is actually now focusing on and cover 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 if the will of the dome to get from a policy perspective that p.b.s. is still has a large toolset so they are tweaking this sort of bucking the trend of other central banks in terms of starting everything situation at once i don't get the

chinese households still remember the bus in terms of the savings rate and so in general it's just ensuring that that pent up demand story does unfold it's ensuring that with all countries that there is a healthy labor market people there for that is in the jobs they certainly are going to spend cousin yang in hong kong on a device but in frankfurt many thanks to both of you. german biotech company cure back is said to go public on nasdaq in just a few hours analysts estimate the vaccine specialists could raise as much as a quarter $1000000000.00 the company's potential a coronavirus vaccine has already created quite a stir with us president trump reportedly offering big money for exclusive access to it shortly after the german government became a major stakeholder in the company. for 20 years from its hits q here in southern germany cure of has worked on vaccines and on drugs for cancer and other diseases

it came to global attention in march when u.s. president donald trump reportedly wanted the company to relocate its research and development work for a covert $1000.00 vaccine to the usa the race to make a vaccine is hotting up around the world and cure of akron man's a leading contender but developing vaccines is extremely expensive and for that reason the company is going public on wall street. it makes its stock market to do on friday sources told reuters that the company raised $213000000.00 in an i.p.o. on thursday that would give the firm a valuation of $2800000000.00. the german government bought a 23 percent stake in the company 2 months ago curate is also strongly backed by microsoft co-founder bill gates all signs of its growing importance in the fight against the pandemic. and not to some of the other business stories making news the turkish lira has fallen to

a fresh record low against the us dollar is now worth just 14 cents after years of decline in value many turkish banks now charge fees on foreign currency sales in an attempt to slow the literals fall germany's finance ministry has denied allegations of insider trading at the financial surprise a real authority the ministry said an increasing number of trades and bankrupt services provider why a card by employees at the authority were not unusual compared to other volatile stocks he was media reports that google will stop responding to data requests from authorities in hong kong and will treated the same as mainland china the move follows beijing's imposition of a new security law in the territory washington has been have elite critical of that new law. in the u.s. just under a 1000000 people filed for unemployment last week that's the lowest number since the coronavirus struck one likely factor is the expired expiration of a $600.00

a week unemployment benefit at the end of july. 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 coronavirus travel restrictions and many people still feeling anxious about cross border travel 2020 visitor numbers will only be a fraction of last year's forcing people in the business to do some serious music. corona virus still dominates everyday life in spain including for hotel e.a.a. tomei 01 and i'm glad occupancy is low which is family hotel minorca that's good for guests who can take advantage of the extra space but it's a crisis for the hotel. system that was found we have more cancellations then new reservations. the figures for july were bad and we have to wait and see what will be for august. the hotel 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 metres 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 is that i hope for july it was 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. he thought they had no income but he and the. tourists are avoiding crowds hotel operators know this and are doing what they calm to keep them safe. on the costa del or lose in head as the le from terre haute sale you will be on the road to promote his product it's a wife i am in

a fire but it can do a lot more. liberal democrat you better to acknowledge e called location analytic 2nd it out 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 of time which is what the employer if it up to seville companies technology is already being used not only in hotels but also at pools and even on beaches. and video. and more 6 weeks of things really got going on suddenly a lot of companies were calling to us because they realized that the how 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

few german or british tourists. to hit a lot of foreigners own apartments here from many countries but at the moment maybe only 5 percent here are foreigners. all that's left of the season are the months 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 if you want more you can find more on our social media feeds i'm for scott brown roland thanks for watching. fredricka.

combating the corona pandemic. where does research stand. what are scientists learning. background information and there is. our corona update. covert 19 special next on d w. in the art of climate change. to suit. the good.

deals today how far future. go sit in the making to get. to. the covert 900 pandemic is said to have jumped from animals to humans starting with pangolin send bats in china. it would be easy to demonize some animals as dirty and transmitters of a disease that can be deadly to humans but some scientists say they present an opportunity for better understanding how the sauce coast to virus works kovac 19 began in animals. could the answer to finding a vaccine for the coronavirus also dying from. the question what come to you

covered 19 special here on the news i'm monica jones in berlin good to have you with us now we share the same planet we breathe the same air and drink the same water and often we are the best of friends humans and animals but now the pandemic overshadows our happy coexistence all available evidence for 900 suggests that sars cove 2 is transmitted between animals and humans where do we go from here in a moment we ask an expert but 1st let's remind ourselves where this virus supposedly came from. their reputation has taken a battering lately since the outbreak of the noble corona virus pandemic some people are afraid of being infected by potts. florian gloats head of the natalee spot center in the german town about sega bag gets a lot of anxious queries. they found viruses related to the corona virus in chinese bats and said bats have the virus and.