almost 3000000 dollars age. just don't expect it to let me place you on a daily drive. it tops offsets, i me a 10 kilometers. and i said show up today to mobile and use the top of the, our key one thing to find back to how government finance companies are pushing for more access to china. that's in the dw business with chris cobra here on dw, in just a moment. have a good the come have a pc out tv highlights new every week in your inbox, subscribe. now, imagine that you're eating a hamburger. and as you're biting into this juicy burner, your dining companion says to you, actually the hamburger is not made from cows. it's me from golden retriever's.

2 2 2 2 2 2 2 2 2 in meeting cultures around the world, people learn to classify small handful of animals with edible and all the rest of the classify as disgusting. the w series about our complex relationship with them and also need to be watching now on youtube. d. w documentary, the germany and china, i resume their high level financial dialogue after a 4 year break. the greatest strength and economic corporation. but germany is still, i'm happy about the degree of, for a super cold market access for its firms insurance. also coming up, what is behind the on gary and governments move to and post certain taxes on some western companies while leaving competitors. i'm touched full of expert analysis,

a couple of blocks and deliver around after a 4 year break, german and chinese officials held their 3rd financial dialogue during the meeting in berlin. germany pushed for a super cool access for financial institutions having in mind of course, mainly german banks and insurance companies, which have long been i a stronger presence on china, a huge consumer market. after months of economic tug of war, smiles and a hand showed a pledge to deepen cooperation between berlin and beijing by desire. both sides determined to expend market access opportunities and opened them up in the sense of a level playing field. this creates opportunities on both sides. for more responsible trade and investment. i'm the one invested see on the joint statement, dampens months of mounting tensions. fueled by calls from germany and the e. u to reduce economic dependence on china. both sides belief that

the economic cooperation can lead to a win win situation. both sides stress to work together to maintain the stability and security of global supply chains. and to take some stand against the coupling. germany also welcome to debt restructuring framework from china. that would make it easier for heavily indebted countries to pay the big credit or back life and german finance minister, chris generally not proposed at the country speak about financial matters annually . instead of every 2 years. a different tone in dw business. china analyst is here to talk some more about this, clifford, why do german financial firms want more access to china? but what we've seen with german farms in china is they have great success with the car industry with manufacturing. now we've got the financial services sector and it's a bit like the holy grail. in some ways, you've got 1400000000 people. that's a lot of pension plans as a lot of saving plans,

a lot of financial products. so ad german firms are very keen to get a piece of that, i think. and how likely is it that drum and bass germans, insurance companies will get more china business? but again, i think if we look back at the presidents for germany, firms, they've got access, but then they've also suffered from, from various issues such as technology transfer and in somebody's being muffled. i buy domestic firms and that could very easily help them with financial products. it's very easy to see technology transfer when it comes to making a car, but you can do the same thing with a pension plan. and it could be that chinese firms actually step in, eventually where the german firms are currently doing it. so there's always a risk there. i wonder how these negotiations tie in with the german government's china strategy, which is unveiled a couple of weeks ago, which calls for much more scrutiny when it comes to the china exposure of german companies. yeah, i think i think the attitude isn't as, as, as all embracing as it was before i think ad jeremy's reconsidering. it's looking

for a sort of a, it probably won't go for d. coupling it is, it is becoming more reserved and it's approach to, to china. so i think at the moment you're seeing jeremy's trying to pay things in, in both ways and some ways the one's more access, but it doesn't want the same level of engagement that it had previously. so it's quite a balancing act at the moment, i think for germany in china relations, clifford conan dw, business china analyst, clifford, as always, thank and also some of the other global business stories making news, indonesia as launching south east asia has 1st high speed the railway the chinese may bullet train will travel between the capital jakarta and the job and city of band dung. turning what used to be a 3 hour journey into a 45 minute drive. train named bush cost more than $7000000000.00 to build with funding coming from china as belt. and road initiative here is on manufacturing facility in september, remain stuck in a deep and broad base downturn, according to the h. c o. b, purchasing managers, index analyst said it was

a sign that the manufacturing recession continue. meanwhile, a u. k. manufacturing survey showed that activity also continued to slow sharply in september. it is ongoing now where a number of western companies are facing taxes and post by the government, which they say they're competitors don't. claims are in line with findings of the problem is budgetary control. committee secures as prime minister victo our bonds, government of deception, trickery and concealment. substantiating a 47 page report why the european union is withholding 50000000000 bureaus in development funds. irish budget carrier. ryan air has reduced flights to hungary. a special tax on seats was too much for the airline. it increased flights to vienna instead. but each mobile operator vodafone, has also given up on hungary telecoms from sold it subsidiary in the country to an oligarchy. i'm the hon. gary and government after the letter implemented

a special tax, increasingly foreign firms of finding it harder to operate in some sectors. and hunger is prime minister victor a whole bunch and his government are responsible says the parliamentary ow, position so so in many cases we already saw that all the guards and friends of the prime minister and friends of the government. they take over companies by force, either by taxing them and uh, and then uh, just buying them for cheap because they can stay on the market or using other method method. monica, a whole maya and other members of the european parliament recently met with members of the hungarian government and also spoke with the opposition managers and business representatives. they got to hear how only foreign companies from germany, austria and friends like targeted with taxes in the construction industry. a complex combination of taxes on production quantities,

export restrictions undermining. levy makes operating in hungary unprofitable. and hon gary and all they got to take over operations at a discount. once the firms decide to exit the market, it's in c s t c. these are very subtle, very intelligently chosen methods to drive companies to ruin and to force them to sell for a song even of on the mic. mostly not hon, gary and angle. but european companies from new member states using small or even hung, gary and companies operated by people who aren't close to the government. and so, and then i put on the i applies to for kaufman the whole my says point supermarket chains also subject especially with taxes and duties. according to her, the organ administration sits prices, which manipulates the markets and lowes are changed overnight. when do you want to name and how the companies have said that they were visited by intelligence,

they are overwhelmed with hundreds of inspections that they get completely up through the requirements. and each time when one of the background one gets the impression that once again, a friendly oligarch benefits is that every sector is affected. large german auto plants and hungary have been left alone. none of the firms in the targeted sectors agree to an interview. and the organ administration hasn't responded to our request about the allegations, but the e. u is taking action. it is withholding $50000000000.00 euros and funds for hungary because of what it considers violations to the ruled low and democratic norms. the commission and the york in parliament, think of foreign companies receive equal treatment in hungary. i hope that the hunger and government is doing everything in their power to fulfill those conditions as fast as possible. until that is, is not the case. then the money that is currently frozen should remain frozen. but

with the open administration unlikely to change course on. it's a nationalist economic policies anytime soon, no end appears to be insight for the route between brussels and budapest. from orland, spring and richard grievous and deputy delta, the deputy director of the vienna institute for international economic studies. welcome to d. w. how big a problem is this? i think it's okay with economy, which has for a long time now be quite reliance on our direct investment platform. investors figured really big role in driving or typically and ultimately economic growth. if we see a big change in invest, the receptionist. ready is hungry, could really be 5 news apps for the restaurant. it's something we see already hungry has been on the quote for quite while the car needs to quite well to look and recent years. but it has really slowed down. a lot of fun to do is to do with, with things it's a screen with us and we hope withholding of the funds,

which are important for how people to listen to all of these institutional rule of law. a questions, we see this, your letter, the hungry guy with economy is actually one that was performing whole reach me and why tell us again, is the hungarian government increasing pressure on these are the 4 and or 4 and run a company, use it to, to drive them out of the market and to then again, forcing them to sell to other investors who are close to their own gary and government in a way it fits upon of something that we see more or less than since 2010 where the government has gotten companies have the state of intention to decrease the foreign ownership increases the domestic ownership and service industries at the start of the 2010. so it was rather possible traded on a couple of industries finance most definitely. and so in a way, we say a continuation of backwards and much lower to

a move and then now clearly intends to increase the domestic ownership in a much broader range of industries. somewhat speech. and, well, this problem persists as long as they to or bond as prime minister, or is there any way out of it? i think this is clear, the cost that's a government that says and what it wants from this. i mean, it's not the case that foreign investors are not still hungry. and i know david shows that companies are still investing and hungry. a few percentage points at o g p, p. yet. but firstly, the compositions changing to see some of the big investments at the moment that tends to come from, from asia, from western europe, especially by to the production. and also the foreigners, i've seen this just come into play less and less of an important role in the economy. so part of direct investment is a sharp economy. it's about 3 quarters 10 years ago. it's now less on a 60 percent. so the cost seems to be set to i think we can,

we can assume that it will continue. and as i said, i think that the phenomena consequences office i'll probably be going to remain quite negative richard. grievous and deputy director of the vienna institute for international economic studies. thank and here's a matter of our top story. germany and china resumed their high level financial dialogue after you for your break. both sides agree to strengthen economic cooperation, but germany is still unhappy about the degree of reciprocal market access for its firms in china. and that is our show on christ colburn berlin, thanks for watching. have a successful the

it's time for vision raised for sustainability, but also for horsepower. the, it's time for the mobile revolution on dw, it truly ride the guides know the way around is strictly scientific trip to some pretty cheap places. curiosity is we tried tomorrow today in 60 minutes on the w,

german with dw 12 or emphasizing the award winning offer is available world wide for every language level, learning gem and has never been since the chinese eaves take over germany. bonkers car museums and single pores in same car prizes now on roads. the ones that were on the streets of munich and electric car made in china a cd. the.