trump at least and people are aware of how damaging this could be you mention the one percent to g.d.p. world decline that could be a result of cording to an e.c.v. official and people here see that too and it's amazing that at the end of the week the dax for example is clearly higher than at the beginning but to put it into perspective how damaging the mood or how damaged the mood is at the moment the levels here but on wall street as well are much lower than at the beginning of the year will events in frankfurt thank you very much. now everybody is talking about donald trump's tariffs and the trade war but there are examples for growing economic corporations between the u.s. and the e.u. and germany in particular one such example is the german american skills initiative which is trying to introduce germany's well established system of the so-called you education to the united states that combines classroom learning with hands on the occasional training three years ago the german american charges of com a start of the cooperation with the u.s. and german governments and as our correspondent

trump at least and people are aware of how damaging this could be you mentioned the one percent g.d.p. world decline that could be a result according to an e.c.v. official and people here see that too and it's amazing that at the end of the week the dax for example is clearly higher than at the beginning but to put it into perspective how damaging the mood or how damaged the mood is at the moment the levels here but on wall street as well are much lower than at the beginning of the year will events in frankfurt thank you very much. the u.s. trade deficit has been widening lately even though u.s. exports were at an all time high among the products shipped overseas by the u.s. a cost these days the country's two big car makers are showing their latest models at the manila all the show where they meet competition not usually found at car shows in the western hemisphere. the whole thing is reminiscent of a striptease. and it's supposed to be the american carmaker once to seduce its buyers. i don't need to use it there are sixty convertible mustang that we have launched today chrysler is right ne

trading partners as well the euro area for example and you already quoted the one percent decline in world g.d.p well the decline in world trade would be minus three percent according to ben walk career and his colleagues and he says that interestingly the worst effect of tariffs like this would be on the country initiating the tariffs that is the aggressor if you will he didn't use that word but he said the u.s. economy would tank by two and a half percent of g.d.p. in the first year after the tariffs were in place in the u.s. only bartz reporting from the frankfurt stock exchange only thank you so much. while the world is looking for solutions to the threat of climate change a dutch and our mental group has taken a more practical approach force few fossil fuel companies to stop drilling and shift towards renewable energies of the first target is their homeland global player royal dutch shell they want to take the company to court and that's just the beginning is it possible to force a big oil company like shell to steer away from fossil fuels. environmental group the minute you defense he's at

world deserves privacy protection we're committed to rolling out the controls and affirmative consent and the special controls around sensitive. types of technology like face recognition that are required in g.d.p our we're doing that around the world. so if facebook is not doing that all around the world it's definitely backtracking on what mark zuckerberg said there here's exactly what it's doing it's a little bit complicated we made a map for you so hang in there with us that's a everything that facebook does is complicated facebook has an international headquarters here in europe in dublin so this is what governs facebook users in the e.u. and all other countries except for the u.s. and canada you can see the headquarters there that's how it currently stands the change will be though that all those global users outside of the e.u. will now be headquartered in california at their headquarters there that means they will no longer be legally were protected under the g.d.p. aren't there that's one point five billion users that's a lot of users car i thank you so much for keeping track of all this telling us a little more about it and a lot of people have questions so yelping us make sense of th

look at the economics you will have looked at what's happened on world trade we had a real slowdown two point two to two percent growth in g.d.p. it's now going up to three point six three point seven why has the country's benefit done well because they have invested in human capital what is the company has been doing investing in human capital just issued in twenty eight team yesterday at the new twenty eighteen trade refeed which clearly identifies. good imperial cold data the benefit that there is in trade we have a real opportunity to expand it if you look at the grocery level we're going east the development in the past was in the west now it's in the east and the fact that we share the same common law common structure and means that the whole commonwealth not just the u.k. the whole commonwealth can take advantage of these opportunities and you have to remember we are living in a really changing environment where protectionism is becoming the norm and it's the commonwealth countries who are saying we are open to business and what's really interesting is we are more open to each other because we are a family second. here

g.d.p. benchmark for national defense this year. burden mitment to sharing is an example that other and partners all around the world will have to together and bear. some of them do not make the same commitment. hopefully they soon will. when nations are committed to security, they have to pay their share. a much ill all enjoy more safe and prosperous future. countries are also providing security assistance nd training as part of the coalition to defeat isis. it has liberated almost 100% of territory once held by isis iraq.ia and in e will not rest until isis is gone. in economic matters our ooperation continuation to develop and grow as you well know. we are excited about several new collaboration,or especially in science, medicine and technology. immediately following this summit, the document of commerce chamber of commerce business a u.s.-baltic summit to expand the mutual trade and investment between our nations. looking forward to seeing you. the baltic countries remain a aircraft, for u.s. automobiles, machinery and medical equipment and we welcome by lateral tried -- based on principle of fairness and reciprocity. enhancing our c

around the world for some years but these are essential to food production they pollinate seventy percent of global food crops bees contribute an estimated two billion euros to german g.d.p. alone and the french research institute of calculates these helpful insects are responsible for two hundred billion euros a year in worldwide economic output but in recent winters almost half of european b. colonies have died out the varo a destructor mites are largely responsible but other environmental factors also play a role in parts of china thousands of farm workers even have to polish pollinates trees and crops by hand. when the cherry blossoms are out it's time for wu ching you know to start work on something that's normally taken care of by nature the farmer pollinates her trees by hand it should be doing this work but here in the honey one region of southwest china there simply aren't enough of the beneficial insects to go around. so it's not been our year olds were simply too low the trees were flowering well but only produced a few fruit seed at the heart then we heard about hand pollination we checked it out and then started doing it ourselves. and pollination is a pains

g.d.p. which we've never had since world war ii.edit swiss and bloomberg intelligence, what's the risk that breaking or do we just print more money? ira: the chance of the u.s. defaulting is very low. it's amazingly low, it's not a credit story but might an price story to your point as we issue more and more bond at some point there might be a buyer strike. you asked me the last time we were on is vigilantes but they won't show their head until you have strong growth and growth continuing to move higher and inflation moving higher and this very high debt level that is going to continue to force more and more bond into the market. and that crowding out has only one thing to do and that's lower prices. tom: can i show a chart? we will with do this for francine and wondering how pound sterling will work in washington this week. the brexit chart. what a tour de force of bloomberg graphics, gtvgo go for you to steal this chart. up here is where i had a dinner in mayfair that the keeper of the expenses doesn't know. a strong collapse here

g.d.p. on national defense. per cren the 35% or 36 tile in world war ii. but 1985 was not a war year and we were spending 5.7%. what we're asking for in 2019 is 3.1%. we believe america can afford survival and i recognize the competing and very tough decisions on domestic spend, on health care, on defense. i can only tell you that we will spend every dollar as wisely as we can. i don't have stress, congressman. i create it. if i find someone getting heartful with the money you've given us that person will have to leave the ranks as we try to buy the time for you to put the fiscal situation back under proper order. >> general dun frd, do you share that concern about our accumulated deficits and total debt at some point becoming or currently being a national security threat? >> i do, congressman. it gets to my opening statement where i said we need sufficient resources at department of defense and we need that to be sustainable and predictable. clearly the sustainability and predictability at at risk. >> on an entirely different subject matter. do you believe people illegally in the united states should be ble t

g.d.p. off which the private sector accounts for two third. public debt in advanced economies is at levels not seen since the second world war the two lenders are clear short term the global economy is looking up but without immediate action stagnation and instability like i had the on the next couple of years. an australian inquiry into financial sector misconduct has claimed its first casualty they had of a.m.p. the country's largest wealth manager has stepped down over revelations of board level deception and misappropriation of funds the government is now vowing to tighten regulation and double double prison terms for financial crimes following admissions of misconduct including knowingly charging dead clients for financial services inquiry began last month following years of banking scandals. and we stay with the subject in a way deutsche bank the pride and joy of the german financial industry is making headlines again for all the wrong reasons again this time they made an accidental transfer to the best of us who wouldn't get a number on once in a while with online banking or those pesky pin numbers and passwords right but mind you you've

decade securing things like the twenty fourteen world cup and then twenty sixteen olympics but even still despite lula's popularity you can see here what their g.d.p. looked like from twenty thirteen to twenty seventeen quite volatile movement into a steep recession in the midst of the political turmoil in twenty sixteen around the time when lula was removed from office and then his successor dilma rousseff faced her own corruption scandal now take a look at the country's national debt in relation to their g.d.p. starting in two thousand and eleven with projections all the way into about twenty twenty two brazil's debt hovered at over sixty percent of g.d.p. in two thousand and eleven and has seen a frightening steady rise now getting close to about ninety percent of g.d.p. here in twenty eighteen now lula's worker party fought really hard to build quickly build it previously not exist at middle class in brazil which they successfully did but they did so on the wings of debt that are now soaring in twenty sixteen brazil spent sixteen percent of their their budget on interest only payments for government debts that are privately held by investors a

g.d.p. of which the private sector accounts for two third public debt in advanced economies is at levels not seen since the second world war the two lenders are clear short term the global economy is looking up but without immediate action stagnation and instability like i had the on the next couple of years. now resistance to u.s. tariffs on steel then at a minimum appears to be growing now russia's joint china and the e.u. and challenging them at the world trade organization and it's using the same strategy as the e.u. by invoking the w t o's safeguards agreement this requires the country to compensate other countries by granting them lower tariffs on other exports the u.s. ministration claims its tariffs and needed on national security grounds. well facebook wants to put the data of one and a half billion users out of the scope of the e.u.'s planned privacy law the legislation designed to restrict what companies can do with other people's data and at the moment facebook members outside the us in canada are governed by terms agreed with its headquarters in ireland that's where european uses data will remain but not t

g.d.p. of which the private sector accounts for two third public debt in advanced economies is at levels not seen since the second world war the two lenders are clear short term the global economy is looking up but without immediate action stagnation and instability lie ahead the on the next couple of years. georgia the pride and joy of the german financial industry is making headlines again for the wrong reasons again this time they made an accidental transfer to the best of us who wouldn't get the number wrong once in a while with online banking all those pesky pin numbers and pos words right but mind you you've never accidentally transferred about twenty eight billion euros two of the wrong account have you well to their credit they figured it out a few minutes later and rectified the issue no harm done but a couple of red faces were there for sure but the incident sheds another harsh spotlight on the bank's risk and control processes and it's creaking i t. systems time for a reboot there i say. it's all your business for now it's back to sour imagine if you have that account that i got transferred accidentally to a

world wide some blame climate change others a virus of course bees are essential to food production pollinating seventy percent of global crops they contribute an estimated two billion euros a year to german g.d.p. the french institute c n r s says the insects are responsible for two hundred billion euros in global economic output but half of all european bee colonies have died out many scientists blame mites but monocultures and loss of habitat also play a role u.s.b. populations are shrinking by thirty percent a year they've become so rare in parts of china that thousands of farm workers have to pollinate trees and crops by hand. when the cherry blossoms are out it's time for witching you know to start work on something that's normally taken care of by nature the farmer pollinates her trees by hand it should be bees doing this work but here in the honey one region of southwest china there simply aren't enough of the beneficial insects to go around. there's not been our yields were simply too low the trees were flowering well but only produced a few fruit seed at the heart then we heard about hand pollination we checked it out and then started doing it ourselves. hand pollination is a painstak

g.d.p. -- gdpr, we're doing that around the world. so i think it's certainly worth discussing, whether we should have something similar in the u.s. but what i would like to say today is that we're going to go forward and implement that regardless of what the regulatory outcome is. mr. grassley: senator thune will chair next. senator wicker. wick wick thank you, mr. chairman -- mr. wicker: thaurks mr. chairman. mr. zucker -- thank you, mr. chairman. mr. zuckerberg, thank you for being with us. my question is going to be a follow-up on what senator hatch was talking about. let me agree with basically his advice that we don't want to overregulate to the point where we're stifling innovation and investment. i understand with regard to suggested rules or suggested legislation there are at least two schools of thought out there. one would be the i.s.p.'s, the internet service providers, who are advocating for privacy protections for consumers that apply to all online entities equally across the entire internet ecosystem. now, facebook is an

g.d.p. annually so it seems that they're seeing with this now a very good chance to grow faster and knowing that on the other side of the world there's a very protective u.s. president. shares in german chemical john bio also knocked up today what's behind. yesterday the trading day they went up even to a level of true for ascend this is happening because of a capital increase the sovereign wealth fund temasek from singapore's investing three billion euros in the company of those capital increases are in many cases not very much appreciated but investors in the case of bias see all of this very different buy it can use this money very well remember that the company has been paying a record number of sixty two point five billion u.s. dollars for the u.s. company monsanto and the amount of money that some investors even call for a company like buy are a little bit too risky and they can use the cash now very well done in cope and frankfurt thank you european union has filed documents with the world trade organization to protest u.s. tariffs on steel euro bonds compensation saying the import duties aren't really based on nationa

world u.s. secretary of state like pump aoe has called on nato allies to make good on their promise to increase defense spending to two percent of g.d.p. during a meeting in brussels he also said that the alliance should not return to business as usual with russia until it shows a clear change in its actions at least three palestinians have been killed and dozens injured in the latest protest at the gaza strip border fence hundreds of palestinians converged on the fit's friday israeli forces opened fire as a crowd trying to break through the border in south africa seven people were killed when a train struck a vehicle at a railway crossing in cape tell the authorities are investigating the cause of the collision which happened in the same place as a similar accident eight years ago in that accident ten children were killed. the leaders of north and south korea have agreed to formally in the state of war between their two countries sixty five years after an armistice brought the fighting to win and at the historic summit today kim jong owned and mungy in said that they will sign a formal peace treaty by the end of this year and their w

i mean, remember, when china joined the world trade organition in 2001, t promised to play by the rules. they didn't. they grew from $1 litr g.d.p 12 trillion and, in the meantime, we lost 60,000 factories, over 5 million manufacturing jobs, wages stagnated and our growth rate was cut almost in half. o that china. president donald trump is very different about that. he sees this ess board and knows what to do for the feature of america, and thas e bigger framing issue here. we're working very hard on behalf of the american people to get this right. >> woodruff: peter navarro, senior advisor to president trump. thank you very much. >> pleasure to be on. next time in studio, promise. >> woodruff: and now, how this showdown is seen from inside china. the escalating punches, and counter-punches,re stoking anger, and fears there of a trade war that could hit both countries. from beijing, special correspondent katrina yu reports. >> reporter: on the outskirts on beij dinner is served for some of farmer yang fuli's 800 pigs. china's growing middle class has meant a bigger appetite for meat. but his pigs wouldn't grow or survive without

world happy. yes they are happy here as well we're seeing a quite a plus here as a blue chip index that's a plus right now off about one per cent six point eight g.d.p. growth for china usually whatever china publishes their g.d.p. numbers investors never expect big surprises in this case it was a little bit different many a year on the trading floor are fearing that the latest geopolitical tension could also have a negative effect on the worldwide economy just yesterday the very well respected hands because our foundation here in germany came out with a new report there stating that because off the latest political situation a possible trade war the index for a possible recession here inside of the country has gone up in march it was at a level of six point two percent now it went up to more than thirty percent and since the chinese economy is always a very good indicator for the worldwide economy investors therefore are relieved at the moment cheers but of course those topics i just meant are still on the investor's mind even though today. hopes are up but the shares in german chemical giant also up at some stage two point five percent during this

world markets exports they have to actually rely on some of the wealth funds we've actually contributed to morgan. clearly g.d.p. to be able to sustain a fiscal range means so they're actually sort of back on track where can we stop that mystification i mean contribute to about four percent of exports and meat may contribute one point to the cents so there are ways of trying to beef up the fiscal engines has had this smooth transition of power how long will president must say see the president is he likely to be the front runner in the next presidential elections oh yeah definitely he gave you the candidates and who searched for and mark simone to test that's the standard for what we're not going to agree that it's really been good governance actually. this man is the person behind the presidency well before we talk salute we are not in the process of wanting to look younger ten years ok so we have a multi-party system in botswana but is there any chance that that opposition candidate could replace him when it comes to the next presidential elections. that is not very likely to want to because although it's mul

our country hasn't seen this level of debt since just after world war ii when the debt to g.d.p. ratio hit an all-time high. that's 1946. this is 2018. couple that with the ballooning u.s. trade deficit which represents the gap between foreign imparts versus u.s. exports. now reaching over half a trillion dollars every year in the red. half of that coming with unfair trade with china. if this croce i pattern of financial abandon and foreign borrowing continues, at some point in the future foreign interests will view america's financial subservience to them as a strategic victory. sadly the republican pattern of tax giveaways to the rich while racking up huge federal deficits is not new. the mammoth deficits remind me of republican ronald reagan's gaping deficit which is democrat ill clinton had to rein in the 1990's. then president bush, post september 11, pulled america into unending wars and never paid those bills. when the terrible financial crash of 2008 hit from that republican abandoned, americans paid an enormous price for that and our economy was finally pulled out with t

g.d.p. on health care. germany and france spend about 11%. we spend substantially more and yet we do not have the best outcomes in the world. we have to look at the system and whether it's working for the american people. i'm just -- i just make this point because we realy could join the rest of the world and have more affordable, more effective health care. it's not only countries like germany, france, canada that spend less and get better outcomes than the united states. it's also new zealand, norway, denmark, sweden, all have systems that are similar in style and they cover more people and the people benefit from that. our systems like medicaid and medicare are some of the most popular systems out there. people tend to like it. i'm not sitting there trouble-free. anybody who thinks there's some program made by human beings that's going to be absolutely perfect all the time of course they're going to be wrong. i guarantee you, i spent plenty of time in montreal, canada, calgary, and i tell you, for all the americans down south of the border who complain about canadian health care, canadians like their health care. they do