like global ideas, the we will show you how climate change ended, fundamental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing. download it now. for the me the washington calls for the g 7 to be tougher on china. over the weekend, the leaders of the group of 7 back president jo biden's plan to rival china's belt and wrote initiative china is not impressed. will business ties with a world's leading market? also coming up, it's time to pack your bathing suit and trunk. holliday resorts and spain are calling, but even those tourism returned to the industry must take a hard look at itself to become more sustainable. hello,

welcome to dw business on monica jones and berlin. good to have you with us. us prison joe biden has called upon g 7, lead us to use the economic might, to count to china's growing global power, costing the issue as a battle against autocracy. it was speaking as the leaders wrapped up their 1st in person summit meeting since the outbreak of a corona virus pandemic. the so called group of 7 agreed to rival beijing's belt and wrote initiative by setting up its own infrastructure. a program for developing nations called build to back better for the world. however, you repeat, leaders were noticeably more restraint than biden, and the extent to which they were willing to call out beijing. and that could be a good reason for that restraint. for more, i'm john my bow, andrew adair. he is the consultant for north america and the foreign trade

department of the german association. the engineering association. vdm a good to have you with us. now we all know that trying a vital partner for german industries in particular of course, the engineering sector. how worry to, are you now that the g 7 joint statement on a rival infrastructure plan will damage business opportunities in and with china? i good morning, monica, thanks for having me. you know, the v d m a views infrastructure investments from public governments, whether china, whether the united states, whether european union as a positive. so we are looking at this as an opportunity. first and foremost, ultimately it is a new initiative, the b 3 w as they are calling it. so we'll have to quickly review it, see how it's how it's going to be implemented right now. it's sort of still in the conceptual phase, but long term, the united states and china,

our markets number one into for v t m a. and we do these types of investments as a positive opportunity. but goes, you'll see that you could be caught up somewhere in the middle. certainly, since 2018 there have been a, you know, back and forth trade sanctions, tariffs, blacklist between the united states and china. and this is a phenomenon. this is not a, a short term thing that's just happened for the trump administration and he's going away. this is a, a long term development. and as an association, we're monitoring this very closely. and it's something that our member companies are certainly concerned about. but the, you know, the infrastructure plan that was announced yesterday, i would say, is just one sort of dot on an overall picture. that is a sort of a longer term trend. so it's, it's a phenomenon that we're monitoring very closely and we want our member companies to succeed in both markets in the,

in the american market in the chinese market. and it's one of our yeah, yeah, you talk about the american market then perhaps, i mean, what about transatlantic relations will know that they salad under the former president trump? europe certainly was very hopeful that things would improve and abide and know at the g 7. the french president, amount of way, mccaul even said now that the united states is quote, definitely back as europe's partner. it's not really so certainly joe biden is setting a new tone without question. and tone is very important in international relations . so we welcome this, this positive tone. we welcome the, the possibility of some, some type of reset with transatlantic relations and economic relations. important to realize that the biden administration is continuing many of the trump era policies. so back to your point about us, china decoupling, for example,

the biden administration appears to be charging a course with respect to china policy. that's every bit as talk and protectionist as the trump administration. so as i said, tone is important. it's, it creates opportunities. there are some, some green shoots, and some of these trade dispute putting out some of these fires. but ultimately, the, the results will have to speak for themselves. tone is not an i, we need results as well. okay, well that will be the next step. hopefully, as biden is going to have tre, talks to morrow and brussels, but tomorrow, under a day, a consultant for north america in the foreign trade department of the german association video may thank you so much for your time. i'll john, as embassy in london has meanwhile denounced a joint statement by the g 7 leaders and has urged to the group to stop in its words slandering china as get some reaction from european investors. now crossing over to chelsea delaney who is keeping an eye for us on the trading floor in

frankfort, chelsea biden's infrastructure structure plan as a rival countering china. how's it going down with investors? are they not worried that investment opportunities in china will go down the drain? well, i think investors and businesses here in europe are certainly very concerned about antagonizing china. but, you know, we've seen that tension between europe and china, really escalating over the past several months. we've seen sanction back and forth between the you basically cancelling a landmark investment deal and ties, economic ties between china and europe, have only gotten stronger. the you, china became the biggest trade partner last year, unseating the us and china is also very economically dependent still on the west. it's still very export dependent economy. so even though we hear more and more concern over over these tensions, they're still very co dependent at the same time why they might be some saber

rattling, going on at the same time, joe biden seems to continue the quite critical stance on china that we saw with his previous donald trump, europe, eventually we'll have to decide or can it basically serve 2 masters ongoing well, you're very much stuck in the middle, but i think your p and leaders think it's okay to be stuck in the middle for now. at the g 7 meeting this weekend, we heard a lot of european leaders like a menu mccall and saying, we don't want this to be an anti china group. in part because the world really needs china. the g 7 needs china, especially if they want you to combat climate change. they won't be able to hold to these 2, these climate goals without china. so they are stuck in the middle. but for now i think say they think they can continue that. all right, chelsea delaney, frank, thank you so much time to take

a look at some other business stories making use germany will increase its climate funding for developing countries to 6000000000 years a year by 2025 up from 4000000000 paid in 2020. as according to government spokesman, speaking as a weekend, she said that someone and switzerland has narrowly rejected new environmental measures, including a surcharge on ca, fuel, and new taxes on flight tickets. the result of a weekend referenda makes it difficult for switzerland to reach its goal of cutting carbon emissions and become net neutral by 2050. finally, after lockdown and travel restrictions, europeans are ready to pack their bags and to take a vacation. but holiday destination such as spain worry that a return to mass tourism could jeopardize efforts toward a more sustainable industry. the custody of so then southern spain is renowned is one of the most popular destinations for mass tourism. there's a lot of talk about sustainability here, but very few of the resorts,

hotels were built to conserve resources and save energy with perhaps one exception in the sea of mega hotels. stands out in a hurry, molina boutique hotel with $36.00 rooms and it's fully sustainable. society doesn't have that awareness yet. we're just getting to the area and the industry itself doesn't have that awareness either north town or not far away. jose dummy, andrew eastman, olga looks at malaga with it's almost $600000.00 inhabitants. it's the birthplace of because so and the tourist have of the cost the del sol for this kind of sort of the region. there's no way around sustainability. like that. i got a demographic burden on the coast, just too high. we need to move toward a balance that shouldn't be saved on the traditional tourism. same song each because that's gone. it's also very seasonal. and this all the time we money, the mulligan,

local politicians feel they're on the right track. they want to attract visitors who are interested in culture and they want to show off their nature reserve near the airport. they're my, you're limited to the stars. you know, we don't want to attract more and more tourists. we want quality choices, so that not only the tourists enjoy the city, we live there, do to go more. they are the most likely that. but mulligan and like other cities is failing to achieve that goal. the residence of a longer near the district have complained for years about rising rents and the consequences. there were 6000 tourist departments in malaga alone. many residents have had to leave their homes in the long run. successful tourism in the area will have to respect its residence and the environment. experts are concerned that once the tourists are back, the pressure to change may wayne cuba is currently struggling with

both the corona virus pandemic and the ongoing us sanctions. cubans living in the u . s. tried to support family members at home with us dollars, but now cuba has suspended accepting cash bank deposits in the currency. if you have foreign currency here, you can buy whatever you like on the black market and special shops. the money comes from tourists and from cubans living abroad, but starting june 21st, that will change cuban banks will stop accepting us dollars. well, it is lucille. it resolution establishes the cuban financial institutions, such as the bank currency, exchange offices may no longer accept dollars in cash li, neither from individuals nor from companies. and this was one i had to read to you . who do you guys? cuba is having more and more difficulty redeeming its dollars abroad, something it blames on sanctions. it didn't get too much in with. it is an

essential unavoidable measure that our banking and financial systems have to take. there is no way of avoiding it. it's a measure motivated by the united states economic brocade. the move serves to make the dollar less attractive domestically and strength and the countries pay so. yet on the black markets, the dollar is still trading far above the government official rate. now then, a seat on a spaceship rides with amazon, found a jeff base also went for $28000000.00 during a life auction this weekend, concluding the month long bidding process for the site. seeing trip on the blue origin maiden voyage. on july, the 20th, the bidding close 7 minutes after the auction began the identity when i was not immediately disclosed, the fight or flight rather is expected to last just 11 minutes, taking the passengers to the edge of space basis and the other passengers can

expect to be weightless and observed the curvature of our planet. beautiful earth. i'd like to see that one day. well, that's it for me and the w business seems thanks for watching. ah, young rockin immigrants. they know the police were stopped. they knew that the route is not a solution. they know their flight could be fatal. going back is not an option. shattered dreams starts june 18th, on d. w. are you ready to get all the places in europe are smashing all the record into a venture?

just don't lose your grip and the treasure map for modern globe. trotter's governors. some of us are wicker great and also in book form. ah, no path is to known from the no no hand. certainly not the camino de santiago. walking is a way to find himself. a miracle for me, camino is definitely existential. electric and it's real life. he's walking that camino de santiago toward the catholic pilgrimage scientists santiago to combust taylor in the north west of spain. it says in 1909th time on the route, that despite the fact the teeth an atheist and is recovering from the covert

infection. ah, ah li funds feigns atlantic coast. it's 6 am when manolo begin his journey. it's more than a 100 kilometers to santiago. he wants to cover the distance in 3 days. how does that when i leave it this time, i see that i feel much more alive. this in which it's a completely different feeling on this, you know, in the thought of i couldn't sets off at 10 in the morning and then a project orland, in the my know know is ways in early riser. even back home in south adel, nearby luna.