it's thank you, and that is all from us for now. up next new fears about a prolong downturn in europe, the largest economy, chris kolber, as the details on the w business will be back with more headlines at the top of the next hour. and i do the, every jenny is far less surprises. we've gone all out to give you some of the right people in your northern most count the police the free time. but still very much alive. your guy to the special hot sauce in germany

recognizes where exactly i learned a lot of our culture history, all their travel extremely worth a visit. the german industrial output is down for a 3rd straight month finding fears of a prolonged downturn and yours largest economy will have expert analysis on what the biggest problems are and how to address. also on the show will take you to an italian town, or dozens of companies have made it their business to gift fashion from all over europe. second, lease course, cobra, welcome to the program. good news about the german economy is hard to come by these days. instead,

german industrial production fell for the 3rd straight months in july. it is the latest news fanning fears of a prolonged downturn in europe 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 powered jug or not. at this years i a or international mobility show. there were no less than 7 chinese e vehicle brands on offer. 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 wouldn't buy a chinese electric car and i still drive on my status at my age, the great car and the combustion engine. then this is but i have to look to the future so. so when i compare electric is clearly great. i see is showing a anecdotal show on, on to nice enough 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 me 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 car box. no, jeez at developing that when your piece going, increasing electric is no one does a kind of think there's a good market to grow into. i think, i mean, i think most oscillations just kind of got phones and that pension. they all come guys in to the pushing your pain phones. but this is an emotional 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 stop you 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 revise production in europe largest economy this week it announced plans to massively expand ab charging stations around the country. and the government is also proposing cutting down on the amount of paperwork needed by businesses. but in a country where 80 percent of the 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 they're in the bank of welcome back to the program. hunger is the situation of germany's car makers somewhat emblematic for the german economy as a whole once pretty innovative. but by now can place and, and a 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 its economic 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 the china has basically bought it. so the tech, a logic can lead in parts 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 big 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 in maryland is declining industrial output. germany is that heavily industry dependent economy, it is, depends a lot on exporting goods to 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 defense had ease, but this invented correction and global manufacturing is temporary. that within lights, 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 the. busy 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 have not the specific jo and problem. they are basically the european product of relative to say the us and some other parts of the word sacrament as the most energy prices in the world. a 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 of course, risen significantly further in the weight of proteins onslaught 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. after all, we have a serious shortage of labor. still, that is people who may no longer find the job in parts of 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 on here. demand from abroad has not fallen every months since april. the world's 2nd biggest economy face as 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 visas, around the world. as a part of a 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 was trying to state and party leaders asian things. skipping this

weekend's $320.00 meeting and india is provided, wants to sell partners and alternative to visions building road initiative, which was fun, is billions of dollars to developing countries. the rise tiers of a death trap here in europe, the business of eco friendly clothing is growing and italy's textile industry is doing his 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, it'll be towards the tech find the recycling capital. around 150 of the 7000 textile companies here are involved in recycling. used close from germany, austria and switzerland,

and up at solve about $200.00 on june of the warehouse he recess to charge off the clothing mazda to optical, at least to the whole work 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 it's crops will become new yarn and rule. it's a complex process that stops here. no submit p o goal is to restore the you on to its original color. we separate the colors and then our machine turns directly into a kind of tie of a pump. that way we restore the original color without chemical dias, fence and i don't see there's that chemical dies that only one of the problems in today's tech side. industrial, worldwide 20 percent of water pollution 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 lobster insensitive product to the re full start top is already selling recycled design of freshman around the world. a video mortgage seneca center. 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 that ends up in the used to me and even people like me color and all these are solving 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 . mister larry was hit with the pies as he held as one man protest outside the routine commission against a, a traffic control the strikes and the you the right there boss left off to start claiming cream pies. where's favorites kind of take? the pine came, is reiner pilots in belgium called strike tax, and just to submit the that's

the little caustic, my guess is week is your re soc advise that to you guys with history of defense and he's clear what he's country will differ based on what it won't getting to concessions to and a dresser is that it's, it's, it's an all stop despite the good news on the battlefield, as a political casualty, and you cry, defense of it as the alexa resnick, of spear heavy countries push, go west and what.