terrorism and insulting the long. door watching d.w. news from berlin coming up next what a judge says here with all that is business of course you can get all the latest news and information anytime you want on our website d w dot com terry barton thanks for watching. the 2. it's about billions. it's about how we're. it's about the foundation of a new food order and the silk road. china wants to expand its influence

with this trade network in seoul to. china this promise needs partners from the rich it's good to know there's a morning who never accept money from the new superpower will become dependent on it china's gateway to europe. starts feb 19th on d w. the coronavirus pandemic that has swept the world has come at the aviation industry and in particular the us largest 2 aircraft maker of us and boeing to take a look at the latest numbers also coming up china has overtaken the united states as europe's biggest trading partner just a flash in the pound or a seismic shift. in global trade we talk to our china experts. hello and welcome to

date of your business i'm going to jones in berlin good to have you with us. but number of flights in european airspace has this month plunged to the lowest level since the 1st strict lock downs were imposed last spring and the outlook is dim with carriers like easy jet and ryan air expecting to fly just 10 percent of their normal schedules less flights also means less demand for new aircraft that's have a look at europe's airbus for example delivered a 3rd fewer planes last year than in 2019 turning out 5 $166.00 archrival how boeing in the united states lost over half its output year on year delivering only $157.00 plagues and ebbers has actually just published its 2020 results and that brings us straight to our financial market correspondent chelsea delaney who is standing by in frankfurt in who kept an eye on that press conference in toulouse chelsea what are those latest figures telling us about the health of the company.

i think it's really a mixed outlook here from air bus they did report a loss of just over a 1000000000 euros for a 2020 and obviously they've been had a really hard by the fact that their customers these big airlines don't really want planes right now so they fall in particular their new orders fall by about 60 percent and 20 twentieth's so really dramatic decline but this still was slightly better than analysts had been expecting the revenue figures the profit figures came in a little bit above market expectations an air bus that's been cutting costs they have been fairing a little bit better than boeing been in particular so they are looking at 2021 and hoping for a bit of a recovery but for now as we heard from the c.e.o. today the outlook it's still very unclear given all of the. coronavirus. current locked out it's ok of course

a lot to depends on the variance and if people can travel again but what about the aviation sector as a whole is there a silver lining somewhere. for now it's still not much of a silver lining for the aviation industry every part of the of the travel tourism industry is getting help from airports themselves to airlines to tourism companies and many had been hoping that 2021 would see a recovery in the market but as you mentioned earlier we've only seen air travel traffic really falling even further because many countries have introduced new travel restrictions to combat the spread of these new variants so i'd say for most of the aviation industry there's hope for recovery is still far off right just to do new their reporting for us from from could sink you so much. time now for a look at some of the business stories making news. australians can no longer view

news on facebook the internet giant has blocked news as a response to proposed legislation that would force the tech platform to pay publishers for content google on the other hand already struck deals with many australian media organizations. the takes us blackouts are hitting chip production the samsung infinium and expiate had to shut down their manufacturing plants as the state's office from a recalled winter storm and a failing grid the closure comes at a time when the supply of chips is already under strain after a lockdown driven surge in demand for gaming console and other tech. to some copes steel business will not be sold to britain's liberty steel the 2 companies have broken off talks because they couldn't agree a price doesn't cope is now considering a spin off of the steel works the german company has suffered from overcapacity cheap imports from china and increasingly stringent new climate models.

talking of china this week statistics agency you're a start an ounce that china has overtaken the united states as the e.u.'s biggest trading partner blocs trade volume with china reached 586000000000 euros last year now that's compared to 555000000000 with the united states consumption in china is growing fast and that also drives sales of european products. sold nearly $775000.00 vehicles in china last year twice as many as they sold in the u.s. during that period v.w. sells almost one in 2 of its cars in the people's republic for years china has been the most important car sales market in the world but now the country has also become the e.u. use most important trading partner overall. according to euro stat european countries shipped nearly 203000000000. rose to china last year in addition to cause

this included machinery and agricultural products like pork china meanwhile shipped 384000000000 euros worth of goods to the e.u. including computers clothing and medical products like facemasks that leaves the e.u. with a trade deficit with china amounting to 181000000000 euros. china is currently profiting from the trade dispute between washington and brussels former us president donald trump had not only imposed harsh tariffs on china but also on certain imports from the e.u. like island medium and steel. commerce between china and the e.u. is projected to increase at the close of last year the 2 reached a new trade deal but many economists say caution is still needed even as economic ties become stronger china is still discriminating against foreign companies in the

awarding of contracts stealing intellectual property and copying products. now china is now that used biggest trading partner this may not come as a surprise but it raises questions as to europe's trading policy and joining me for war is the w.'s clifford kuhn and. of course you know china very well you've lived and worked there for many years what's this shift in trade mean for beijing well this is a big win for the communist party which runs china they've been actively courting europe for many years now and in the last couple of years they've had to deal with the u.s. trade war and they've also had a lot of pressure because of the coronavirus and of a lot of its overseas markets have suffered so in those terms it's a big win for the for for china and it's something that they will be seeking to expound on ok so do you think that this shift is just a flash in the pan due to the circumstances you mentioned or a long term trend. well i lived in china for 15 years and one of the things that we

saw every year was a visit by the german chancellor for example and it's always been part of europe europe's policy to really grow relations with china and china like stealing with europe too because it's such a huge market so it's definitely been a policy for a while i think it's in some ways it's happened sooner than expected because of the coronavirus slowdown nothing is normal right now but then again china is the biggest it's the biggest industry it's the global industry leader so it's not really a surprise so i think it's part of a of a program of things that have been happening over many years now we just saw in this graph in the piece the trade volume is not quite balanced and the e.u. and china have only recently agreed on a comprehensive investment deal which has come under fire by human rights activists but also by politicians how do you view this agreement is it

a win win situation for both. in trade terms it's very positive i think for industry but i think it's controversial going forward it's going to prove problematic i think countries are going to have to see how they can weigh up things like human rights you know there's the labor camps and shin jiang there is issues into bash there are various human rights issues taiwan. in some ways industry is kind of trying not to focus on too much they're basically focusing on the bottom line particularly at a time of the pandemic but among the electorates in the european countries these will be issues so i think that going forward these kind of things are going to play more of a role. on the other side on the positive side it is it is a trading it is positive to see trade developing and. the argument has long been that you can you can bring china around using trade so maybe. that's is possible

but definitely problematic ok. in china expect and of course business thank you so much thanks. meanwhile many companies are struggling to get their products moved from a to b. or to receive the spare parts they desperately need and all that because of a shortage of shipping container and that's causing a world wide logistics. at long last a container has arrived goods destined for export have been piling up to him tao is on the move all the time he works for transport company hospitals but everything that used to be automated and run like clockwork has been thrown into chaos by the pandemic the crisis has had far reaching affects on the logistics industry there is a critical shortage of containers in china at present but you have towns has to organize each one personally. sometimes we find some

containers that are being repaired we drive there wait for them and then we bring them straight to our customers. there are so few containers in china right now because so many have been stranded in europe in the us lockdowns there have brought life to a standstill then the order boom came. early on when the boom started it was especially close related to making a home office so office tables office chairs a.v. equipment. and the problem is growing while china ramps up production and many other economies are in crisis mode this factory produces machines that press metal cans. but with so little transport capacity freight costs are exploding. and i've been in china for 17 years and i've never experienced such

a strong and fast rise in transportation prices and it's going to so by surprise off my colleagues in other companies who have had the same experience. cargo ships are also at full capacity there's not even space for flat track goods which are transported out in the open. because the cost of a flat track from afar should to rotterdam used to cost about $1500.00 u.s. dollars 2 months ago or not today but costs around $25000.00 u.s. dollars. with. every congress ship worldwide is currently on the water experts say but the congestion won't be solved by more ships and containers alone corona virus outbreak some of the port workers especially in the u.s. have brought the just ticks to a standstill in some places the situation should improve once the coronavirus is brought under control. at some point in time in 2021 people will come to the

realize sation that's light at the end of the tunnel we can finally get all lives back and when people realize that of course they're going to take some of that money and put it back into services as we used to. that would be good news for the service based economies in the u.s. and europe. and that's the latest business update here on d w 4 more you can always check out our website at www dot com slash business or follow us on social media from in the team thanks for watching. or not to well. what about assuring the economy instead. of. the change in thinking is changing the economy to create something new.

for the economics magazine maybe in germany. next on. we've got some hot tips for your bucket list. manticora. concert for food. and some great cultural memorials to boot. d.w. trouble we go. remember how almost every 2nd show about hero made was about digital disruption we used to collectively gaze into the future in the hope of a better more efficient life with less work and most spare time allowing tech to

take care of things the problem was government said companies dragging their feet refusing to adopt anything.