said german industrial production sell for the 3rd straight months in july. it is the latest news finding. fears of a prolong downturn in europe's largest economy in which companies are facing, among other things, high energy prices, sluggish global demand, and a situation in which competitors are now setting benchmarks. a new phrase is popping up among german car executives, china speed. that's how fast they feel they need to move to catch up to the chinese car industry that's grown into a battery power jug or not. at this years i a or international mobility show. there were no less than 7 chinese e vehicle brands on offered and even some of the traditional fans of german cars, middle aged, and older german men who make time to visit an auto show in munich. even they are starting to get curious about competitors from abroad.

green said to the siding theory. yes. i would buy a chinese electric car and i still drive immersed status at my age, the great car and the combustion engine in this is but i have to look to the future so, so when i compare electric is clearly great. that is showing a anecdotal show tony on to new using the city, the chinese of course better when it comes to pricing. then fox walk sick. man, i'm very disappointed by folks locked in place for them for the the numbers don't lie and they aren't looking good for german carmakers abroad or at home. this year all electric chinese car maker b y d overtook volkswagen as china is the best selling brand. here in germany, the auto industry shrank by 3 and a half percent in june compared to the previous month. that drag is slowing down. german industrial production at large would shrink by one and a half percent during the same period. i'm trying to has

a huge electric call bought. okay. well, i know you said developing that when your, if he's going increasing electric is no one does a kind of things as a good market to grow into. i think, i mean, i think most last agents just kind of got phones and that pension they are coming. i've been pushing your pain phones, but this is a move to show is a challenge for them to come and say we should be taken seriously. so you can, yeah, you can see that cause next to the stablish, the stuff be from the german government is rushing to respond to production concerns in the country last week and approved 32000000000 euros in corporate tax cuts over 4 years to help revive production in europe largest economy this week, it announced plans to massively expand the charging stations around the country. and the government is also proposing cutting down on the amounts of paperwork needed by businesses. but in a country where 80 percent of companies still use fax machines,

it's unclear if german odometer is will ever hit china speed. for some more analysis in the spring in august meeting is the chief economist that barren dark bank. welcome back to the program hugger is the situation of jeremy's car makers, somewhat emblematic for the german economy as a whole, once pretty innovative, but by now complacent ended victim of its own convoluted ways, as well some what is probably the right way to describe it. yes, germany as a who would enjoy to go decade from 2010 onwards. the country in terms of expecting only policy. and the companies in the country to some extent became a bit complacent based on that success. still the problems of the caustic got a bit special because it's showing the s the boss resources at the site though. china has basically bought it. so the technological lead in pots of electric mobility at huge costs,

in terms of missed opportunities for china to spend the money back to china so that you can buy market share, even if it's expensive, in the sense that china really has too much domestic debt. and the german cost like to is at the receiving end of august like doors up from probably a bit less, probably extracting from energy intensive industry. let's try to take a look at the bigger picture here. i mean, there's a serious of worrying trends within german economy. we have weak industrial output . we have problems in the construction sector and declining private consumption, which is the most severe the most troubling, as well as the moment it is declining industrial output. germany is that heavily industry depends on the economy. it is depends a lot on exporting goods through the world. and we see shop down to an in global manufacturing. pop, the inventor. we correction of the companies boot up

a lot of inventories early in the late last year. one supply chain lock jams had ease. but this invented correction included manufacturing is temporary. that within likes the b o the, the, by the end of the year. and i look forward to some of the pounds in manufacturing solving probably next spring onwards. germany, it still has significant strength so far it has a record of employment and it has the strongest fiscal position of all major european economies. in the sense germany can, whether there's a significant 60 goes down to yeah, the same time. however, there are so many industrial companies who are complaining about various things on top of the list is high energy costs. so how do you, how do you figure. 3 should be dealt with that. i mean, some of the german government are proposing the state should temper life subsidize energy for big industrial companies. while high energy costs are indeed

a big problem, but they're not the specific gym and problem. they are basically the european problem relative to say the us and some other parts of the word. sacramento has the most energy prices in the world as well. actually not really enough to energy prices for argue this in some countries in europe actually higher than the jump. the jump price is a higher, but they are not the heights. the point is they have cost risen significantly further in the weight of proteins on snow. on ukraine and no energy intensive industries are indeed leaving all pondering to leave. that however, does not mean that a lot of capacity will be lost for good off. ringback or we have a serious shortage of labor still that is people who may know. busy defined the drop in parts of the chemicals, we're probably once to come and 60 comes down to it is over, find a job elsewhere and be productive. and all the sectors of industry points ups is i

guess meeting aaron back banks chief economist, talker as always. thank you for your thoughts and out to some of the other global business stories making use china as foreign trade slumped further in august in ports we're down more than 7 percent. and experts around almost 9 percent here in here, demand from abroad has not fallen every months since april. the world's 2nd biggest economy face has major head winds. with a worsening property slumped consumer spending staying weak and slipping, credit office space group, we were told as landlords to the plans to renegotiate almost all of its office leases around the world. as a part of it strive to cut costs. this comes after the companies warning weeks ago that there was, quote, substantial doubts over its ability to continue offer. president joe biden is stepping up efforts to boost the us role in fast growing economies in africa. latin america and asia is trying to state and party leaders asian things,

skipping this weekend. the 20 meeting in india is provided was the sub partners and alternative to basing spelled and wrote initiative, which was fun is billions of dollars to developing countries that raise tiers of a death trap. here in europe, the business of eco friendly clothing is growing and italy's textile industry is doing its best to keep up. prato is considered the powers of sustainable fashion with a $150.00 tech stock companies. processing 2nd hand clothing from all over europe. this used clothing been could be in almost any european city, but no matter where it's located, chance to solve the clothing. we'll end up in plateau. each of the, the words text find the recycling capital around 150 of to 7000 tech 5 companies here are involved in recycling. use clouds from germany, austria and switzerland. end up at solve about $200.00 on june of warehouse. the

recess to charge of the clothing mazda to optical, or at least tizzy who works next door, takes the last toward. our family business has been turning us close into john and fabric for 4 generations. then amazing begins indiana to discard its crops, will become new. yon and rule, it's a complex process that stops here in the tivo, our goal is to restore to your inputs, original color. we separate the colors and then our machine in turns directly into a kind of tie of a pump. that way we restore the original color without chemical dyess fence and i don't see there's that chemical dies that only one of the problems in today's tech side, industrial world wide, 20 percent of water portion comes from diagram finishing fabrics. that's another reason why it was cycling use floating is so important for

a company process is up to $25.00 tons of public per day. the final product of this fluffy fibers, the recycling process continues in a nearby factory. the fibers are turned into john and then fabric. every european buys, on average, 26th to those of textiles per year. most eventually ends up as not insensitive prop to the re, full start top is already selling recycle design refreshing around the world. a video more exactly. sensitive before that, we're seeing that more and more people are interested in these issues and are willing to buy less clothing, but spend more on quality. and it's the opposite of foss expression, which is what we had until just a few years ago. mom, you know, was the one that i thought it was the one time living there for you to me. i knew and people like me color and all these are showing that sustainable fashion is more than just a dream. and finally,

a soft landing of the unpleasant kind. brian air c o michael o'leary took to cream pies to the face and brussels and they protest action by 2 environmental activists . mr. larry was hit with the pies as he held as one man protest outside to your team commission against a, a traffic control the strikes and the you, the ryan, their boss left off to start cleaning cream pies. whereas favorites kind of take. the pine came as reiner pilots in belgium called strike tax and just submit the a. and that wraps up a program for more check out our website at www. dot. com slash business and the dw . use youtube channel. chris coburn. roland, thanks for watching. have a successful, the

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you're watching, you know, the news coming to live from berlin after catastrophic wildfire is greece now really from devastating floods. officials say it's a zip. grease has changed climate sounds that the government sends in troops to deal with the disaster. the severe storms and record rainfall have already killed at least 14 in the region with more rain expected. also coming up on the show in syria, a peaceful protest and gathers momentum as thousands of demonstrators take to the streets, calling for.