Skip to main content

tv   Business - News  Deutsche Welle  July 8, 2022 4:45pm-5:01pm CEST

4:45 pm
also on our show, the british economy is without a rudder and facing rough waters ahead. we look at the challenges facing london. and soaring food prices are leading to pressure on biofuel producers to put their crop land to different use. hello, welcome to the show. i'm from beardsley in berlin. foreign ministers from some of the world's top economies are meeting today in indonesia under the g 20 format. russia's war in ukraine as a central focus of discussions. chinese trade relations are also on the agenda. countries. foreign minister was scheduled to meet his counterpart from australia for the 1st time in 3 years. the 2 are expected to discuss b genes, unofficial trait, embargoes on australian, coal and wine among other products. china took no steps and reaction to australian politics. there were deemed critical of beijing, here's all series foreign minister on how she planned to approach that meeting. that we all know we have our differences. there are challenges in relationship. we
4:46 pm
believe engagement is necessary to stabilize the relationship approaches. the sterling government will always be centered on the strategies national interests. that is how we will approach this meeting. that is how we approach all of our international engagement. and we will decide calmly and consistently decide diplomatically and directly or i. richard mcgregor is a senior fellow for east asia at the low institute said he joined me for more. a richard, thanks for coming onto the show. we just heard from australia's foreign minister. i would say, she suggested how intense this dispute between the 2 nations has been saying we're going to project calmly will be, will be reserved. what can we expect out of this meeting? do we have any idea? i think you should expect very little. they have not met, there's been no sort of meetings between farm. it is as you say, for nearly 3 years. i think there might might be a bit of benting on both sides. both sides will have a lengthy laundry list lines. they will have to get through them on their,
4:47 pm
on political purposes. i think the thing to look for is what is scheduled to happen after this. in other words, will there be any, any forums, any talks in the issues identified? the 2 sides can continue to talk about, but nobody should think this is a reset in the relationship that it reset implies is going back to what it was. i think it's a foreign minister. any walk said it's about stabilizing the relationship. australia has seemed to whether these embargoes pretty well even if certain branches have suffered under the credit service. something of a blueprint or encouragement for other nations were facing similar penalties from china. well, it's possible if you look at other nations that have been subjected to economic coercion from china and most recently, south career in 20162017. they were that, that like australia, some industries stuff that significantly so i think, you know, i think the, the lesson from this is that, you know,
4:48 pm
it's not easy to coerce the country economically. it's not easy to force another country in such a sort of blanket fashion to sort of change policy and the like. and an almost always has a very negative effect on public opinion in the target country, which really just helps strengthen a government's resolve. so i don't think china thinks it's been the success, but i have to say that australia might be a little bit complacent about its ability to withstand this because we benefit from i commodity prices where a commodity export or china doesn't have anywhere else to go for a number of commodities, so we've got through it, but we've had a bit of luck as well. richard briefly, if you can just trying to not have also also have incentives to repair these relations when we look at its appetite for coal, for example, that is one of the biggest exports from australia. we're, well,
4:49 pm
they're not taking any striving called anymore. they're getting it from russia. you know, china seems to have a great tolerance for annoying many countries at the moment. so i'm not quite sure what their appetite is for really repairing relations. right. richard mcgregor at the low institute. thank you very much. thank you. russia's invasion of ukraine and the food crisis that it's at least have heightened the debate on the use of crops to make biofuel. a critics are increasing their calls for a halt by a fuel production. farmers have other ideas, big green pieces, mobilizing against biofuels, and hamburg. the environmental protection organisation is protesting against the use of plant crops and grain to produce biodiesel and ethanol. they insist that only food should be grown on arable land. mucus suffer him out. attack loading by a fuel in petrol tanks makes no environmental sense. we're facing
4:50 pm
a global food crisis and to process valuable grain into gasoline right now is irresponsible. the government must stop this madness immediately. bombs and food belongs on the plate and not in the tank. got often tell our mission and tongue. farmer kurth anchor has little sympathy with this argument. he supplies grain to a biofuel factory very close to lights each. but it's all low quality grain that has been damaged by drives are too much rain, for example, and is not suitable for baking bread. ran 20 percent of his harvest actually ends up in a gas tank. the. this craig mill as best of by the 1st of all, we get the best price for wheat used for bread. we get an even better price for high quality. we with a lot of protein for the past to industry. and then lastly comes feed. we'll put light and bio ethanol. so let's couldn't put all right, so via the noise by a fuser legally required to be blended with diesel and gasoline. they're considered
4:51 pm
environmentally friendly because on balance, they help reduce c o 2, which is harmful to the environment. a reduction in biofuels would hit the eastern german farm crop energies. hard. ethanol is produced here from grain last year, the company produced 1100000000 leaders of biofuel in germany. as a substitute for pipeline oil. for example, from russia. the company also produces protein. this is a byproduct of ethanol production. one ton of grain from domestic production is turned into a range of products, a crop energies that i own. a key to one is annoying fiona, 300 kilograms of ethanol. 400 kilograms of protein feed, which is directly turned into human and animal food and which directly reduces saw imports from south america. i'm in the book to address the demands of critics of
4:52 pm
grain based biofuels. the industry could gradually switch to other biological feed stocks. there could, for example, be a gradual switch from serials to straw, a manure from animal sheds. after all, there's a lot of energy in manure to was speaking of rising prices. the united kingdom is just one of several industrialized nations that suffering from significant inflation as well as the prospects of a slumping economy. but the u. k. 's outlook is even blacker than its peers. the bank of england warning of a long lasting economic crisis as political turbulence unfolds official statistics show growth falling from 7.4 percent last year. the 3.7 percent this year. the i'll look for 2023 is even bleaker at 0 percent. that's according to the o, e c d, in its latest figures. now some even fear the u. k. will slip into a recession, high fuel and food prices as we just saw, there are 2 culprits of the slowing growth. the inflation rate rose to 9 point one
4:53 pm
percent in the u. k. in may. that's the highest rate in 40 years. the central bank expects it to hit double digits within a few months. or i solomon feler is an economist, that baron beg bank. he joins me for more. the u. k. expected to see this incredibly slow growth, a slow growth of developing countries. why is that? so even the numbers that you cited now, maybe a bit optimistic. we think that the u. k. may already be in a recession, actually say one reason for that is why it's maybe starting a bit early and u. k is also the different pattern of coming out of the pandemic. so in your zone, you have still a little bit of a reopening momentum that dampens the impact of the russian energy crisis. now, but in the end, it will be a phenomenon that you can see of the be able to see throughout europe as gas
4:54 pm
supplies are curtailed. so it's only hitting a, maybe that, and then it can also move out of the current crisis. all right, now political now gap at the very top of politics in the u. k. force johnson resigning. what does that mean during such a difficult time to have a gap there at the very top of the country? so say, well maybe it's a problem that the u. k. contract, but on the other hand, you can't make any major missteps. in the current situation, there are many pitfalls for the additional a day. it should probably avoid. so if you're now in this situation where inflation is already high, increased the fiscal policy impacts more and then more makeup taxes. if you spend too much, you will only exacerbated inflation. if you can't do that for
4:55 pm
a couple months and that might even be helpful. right. solvent feel there. bird bank. thank you very much. thank you. over to germany now where volkswagen has broken ground on its 1st in house battery sell plant. the factory located in the city of south getter is another battle accompanies electric future and its ability to catch up with electric vehicle competition or the u. s. and asia is this where the automotive industry of the future will be created. we w wants to use its new plan to produce the green unified cell for use in the groups, electric cars in the future, the combustion engine which formed the foundation for v w. success will become a thing of the past in just a few years. and kind of until now we need not fear this transformation, yet the charities outweigh the risks for those at the forefront. for the that applies the site here ends out skitta, but also to browns fike, where we build our battery systems. that applies to castle where we build the
4:56 pm
electric motor. this transformation off is a lot more opportunities than risks or fraud unless we think about you need money for that head for our money is needed. the investments are high. yes. building costs and up to 2000000000 euros. the factory should be ready by 2025. the plants will act as a blueprint for further sake sale factories in europe and the prospect of further factories and north america. in the future. we are much, well, we've already committed to valencia dependent on subsidies. we expect that the next site will probably be in eastern europe. the exact location has not been determined yet. by the end of the decade, folks wagons, petrie division expects to generate annual sales and excess of 20000000000 euros and employ up 220000 people in europe alone. right. and finally,
4:57 pm
japanese fans of boucher lenovo. wine will have to rein in their enthusiasm this year as importers high prices and shrink their product offerings even was there even resorting to plastic bottles. japanese beverage company kieran said it'll switch to p e t bottles to fight rising fuel and transportation costs. the release of the fruity red wine from francis, which lay region is highly anticipated. japan, which is the world, the world number one importer wind from plastic bottle. all right, that's our show. you can find out more on line d, w dot com slash business checks out on youtube as well. for the d, w channel i.
4:58 pm
o eco, india. how can a country's economy grow in harmony with its people and the environment? when there are doers to look at the bigger picture, india, a country that faces many challenges and whose people are striving to create a sustainable future clever projects from europe and india equal india. in 30 minutes on a t w. o. o has no limits. love is for everybody.
4:59 pm
love is life. i love matters and that's my new podcast. i'm evelyn sharma. and i really think we need to talk about all the topics that more divides and deny that this i have invited many deer and, well, i guess, and i would like to invite you to and then people in trucks injured when trying to flee the city center more and more refugees are being turned away and the water families plain bomb attacks in syria to these correct only thing is with people. clean extreme ground. rough getting 200 people, his son from the june around the world. more than 300000000 people are seeking refuge. yes. why?
5:00 pm
because no one should have to flee. make up your own mind. d. w. made for mines. ah . this is the w news live from berlin, japan's former prime minister should so a dies after being shot during a political rodney giving a speech ahead of this weekend's parliamentary elections. medic say he bled to death after sustaining injuries to his hot will bring the latest from tokyo.

33 Views

info Stream Only

Uploaded by TV Archive on