pump out 1000000 are telling me rounds in support of ukraine. so why it's been so difficult for their arms industries to deliver? let's take a look. hello and welcome to our show. i'm seeing beardsley in berlin . the german government has approve 7500000000 euros and loan guarantees for siemens energy. a company it considers a key player in the country's climate transition. despite its recent struggles, the backs up for the maker of wind and gas turbines is part of a larger line of guarantees, totaling $15000000000.00, and relying also on private lenders. loan guarantees are standard practice for major projects which can take years to realize the company struggling when subsidiary has weighed on the market value of siemens energy and recent months. despite growing order books, the company announced on wednesday a loss of $4600000000.00 for the previous fiscal year. maria ferraro is chief financial officer for siemens energy entry,

joins me now from unit re a welcome. i'm how important is this agreement for your company? it's very important, of course, because of course what it does is it allows it actually under pins, our gross plan as a company. what's really important to note is right now we have a record order backlog of a 112000000000 euros and all of that backlog. a lot of that is about really let's say, transitioning and having the energy transition going forward. and what is the premise of a guarantee is essentially it's a trust contract between ourselves and a customer. it has nothing to do with the balance sheet, but it is necessary for us to conduct our business. it's normal course of business . one other point, it has nothing to do with liquidity or re, it wasn't your largest shareholders even supposed to be that stabilizing factor for your company, which it, of course rolled out as a standalone company several years ago. why? in other words, this is a, is

a security net of tax payer money necessary in this case. well, let's be clear. there is no tax payer money being spent here at all. all this is a guarantee facility which is backed stop by the government. i think it's really important to remember that because otherwise we're mixing to things like apples and oranges. so in this case, what we need, and i'm really happy that the government, the banks and siemens ag all came forward to support our growth. because again, guarantees is about this car trust contract because between ourselves and customers, ensuring that we have those in place as we deliver these large orders that everybody needs for the energy transition. your company has of course faced head winds because of its wind subsidy, or is humans can mesa in which we've seen a lot of technical malfunctions with some of the products that it's produced. as soon as energy has announced that over the past year, the depth and the extent of those problems. do you believe that the company now has

a full understanding of the timeline for rectifying those problems and getting to the end finally of this chapter with us when subsidiary? uh huh. yeah, i think steven, um, you know, what we've said now is we've ring fence the issue and from the q 3 issues, what we see is there are no further provisions being made. we know now what the root causes are, and we're now putting corrective actions in place in just one thing. i think it's also important to note these are technical issues. they require a lot of let's say analysis to determine what to do. and then those corrective measures will take place over the next months and years. it's really tackling the issue and making sure that we know where things are going wrong. and then ensuring that we put that into our maintenance or repair schedules over the next couple of years. so yes, we are confident maria ferraro, their chief financial officer at siemens energy. speaking to us earlier on

wednesday. right. shifting gears and turning to the us wednesdays meeting between shane jean ping, andrew bite in california comes in mid high trade. tensions between the 2 sides of the us has put chinese companies on blacklist for investment. aging has responded, for example, with an investigation of apples operations in china, but are the world's 2 largest economy is really the coupling. well, take a look. the chinese companies in every sector are having a tough time in the us. several new tires have been imposed by us president joe biden on top of the ones initiated by. he's pretty assessor donald trump. but while dozens of chinese companies are now blacklisted, trade between the world's 2 largest economies is too high. in 2022, the us exported a $154000000000.00 worth of goods to china. and chinese imports were even higher at $537000000000.00. that's a trade deficit of $383000000000.00. but us continues to restrict ship exports to

china to protect a sensitive technology in areas like a i, aerospace and defense, and american companies. and these sectors may so no longer be able to invest in china without restrictions. last year, a lot of us money still flowed into china. us direct investments and china increased by $12000000000.00 in 2022. but china invested less chinese direct investments in the us fell by 1300000000 dollars last year. despite for us to relations, the us in china, i economically intertwined. all eyes are on that meeting between she and biden in california on wednesday. but for the business community, there's another event worth watching. a dinner with changing, paying and selected american business leaders. earlier i spoke to our correspondent in taipei and asked him what message us business leaders likely want to hear from sheet? the hello susan wants to reassure

a business executive that china remains open for business and is making progress in reviving the economy. and the guess we are talking about some big names like microsoft c o t on the de la city group, c o g and fraser test a lot in space, act c o u, a mosque. they are eager to express that despite the us government's barrier to sensitive technology, china, we manage a vital market for many companies participating ad pack and the dinner. they do not produce a military related products and i'm not concerned by the us government and national security agencies. they also hope to convinced that chinese partners that they are in industries that will not and should not become the target of the political attention. right. of course, so much of that trade between us china, march recently by these trade restrictions that you mentioned there. at the same time we hear so much about the coupling that us in china are some of the coupling. to what extent is that true when we look at overall trade? well, especially both sides would say no,

there's no the coupling. but the problem is that while the chinese american economies we meant to play into twined the tensions that have had a big impact on supply chance us companies and now pushing for the risking and looking for other tentative. if we look at the numbers, it's even clear up in march this year, goods from china, accountants for less than 12 percent of us in ports, the lowest level since 2005. although the white house is eager to avoid a full blown breakdown in us china relations, the us currently has a clear on the, on the upper hand, which could tempt hardliners in the us government to continue to demand more restrictions on investment and a i chips practically advancing the process of the coupling. right? that's dw correspondence, so it's on han in taipei. thank you very much. $1000000.00 artillery rounds within a year in support of ukraine. that was the political problems made by european

leaders in march 8 months in less than a 3rd of that amount has been delivered to shots tracts, the problems plaguing production. the challenges of weapons manufacturing may have come is an unpleasant surprise for politicians who promised ukraine a 1000000 rounds of ammunition by next march. it's not so that you can just drive a truck up to a defense company and just tell them how much you want to leave the same day. it's not like that nor ways. number, always one of the world's leading suppliers of ammunition was $27.00 manufacturing facilities across a dozen countries. the steel tubes, still hot from the foraging process, will become some of those coveted 155 millimeter shells. here at nanos, ralph is manufacturing facility. but what producers explained is that they can't fill orders, they haven't received. and so the responsibility for this dramatic scale up in output being expected doesn't start here. well,

the number of contracts for emulation has increased. that alone isn't enough to boost production to the levels that are needed. there are other obstacles hindering large scale orders and joint procurement. for example, while nieto countries primarily use $155.00 millimeter caliber guns at that munition, there are 14 variations of these artillery shells because each country produces them with slight differences. some industry leaders are calling for the standardization of defense products, even though these different specifications are seen as favoring manufacturers, but the ceo of getting this part through your group, etc. the legal says those days should be over the market. this very perfectionist, not just in new york, if i, i think it's a, it's a global phenomena. and the destination we realize is that the, we are just shop optimizing our own production capabilities. so things will not change possibly enough. if we have the product that treatment that are not standardized enough, it means that it's a logistical nightmare. natives. top military official urges more cohesion at the

political level. so supplies get to where they're needed at the tactical level. we have to agree that we have to stop doing. that's because a soldier in the, in the field is not interested whether the, the, the alternative or outcomes from factory a, b, or c in whatever country they don't care. they'd just want the munition to be able to hit the target. now, most as it has more than tripled production in some areas over the last 2 years, and it's expanding its facilities. but what happens with demand drops dramatically after the end of the war and ukraine? now, most ceo morton runs a gets suggesting 10 to 15 year production contracts to deal with such a future uncertainty. i think we have to share the risk because it's also very important that these defense companies that they are kind of profitable on the creek under reinvesting r n d forensic won't offer a prediction on whether there's any way, some 700000 more rounds of ammunition can be sent to ukraine by mart. you'll only

say it will take his company much longer than that. just to fill the orders it already has. and here's a reminder of our top business story. stevens energy is welcoming the german government decisions to provide 7 and a half 1000000000 euros and loan guarantees the company has a full border book, but is facing a crisis. and it's wind energy subsidiary for land considered siemens energy. a key player in the countries climate transition and despite its recent struggles, that's it for me and the dw business team, you can find out more online, you w dot com slash business. also, youtube watched the

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fine oh hi i'm right. just do it, and i'm hosting dw new podcasts. don't strengthen those because it's actually a file now. join us as we travel around your at tracing the history of every day of that and that bumpy ride around the world. and of course, what taking the juicy of stories within the israel kind of what it said was like august had the operations against thomas miller's, a groups of war. the right code was the humanitarian situation. also on the program, the britain, this top codes rules, the government's controversial migration policy on low u. k. wants to stop asylum seekers from arriving in small boats for supreme court which it fits funds to send them to relax to.