world's top economic powers the u.s. the e.u. and japan joining forces to combat market to starting trade practices the group signing a declaration at the world trade organization conference said when a series it doesn't openly target any specific country but it does focus on state owned enterprises and government subsidies both of which are central features of china's economic system chinese steel and element of industries are heavily subsidized cheap chinese goods have been flooding global markets posing a risk to jobs elsewhere. then you'll tell me is this declaration the result of just a lot of talk we don't actually see any action. well i mean this is always the question how much power the w.t. organisation actually has because in some cases it can really bring something just yesterday this agreement between those who are left in american countries and the european union was signed but in other cases it's a really long process and you can really feel that. it doesn't have that much influence because at the end it's an organisation it's not illegal body that can tell for example to the united states will you have to come to an agreement for example regarding the nafta

capital one has ideas for the first world trade organization conference since u.s. president donald trump took office he's previously described the body as a quote disaster accusing it of being set up to benefit everyone but america when all the issues like battling china's protectionist policies the united states is less litter and calling on the w t o states than. smiles for the cameras but behind them the recognition of a new reality global trade relationships are undergoing a shift driven not least by the arrival of u.s. president donald trump and his america first policy mentioned in all but name in the w t o chief's opening remarks sentiment today is more inward looking the threat of protectionism remains ever present and with this in mind i think it is more important than ever that we build on the progress that we have already made to further strengthen the system what exactly strengthening the system actually entails is less clear among the issues up for discussion is china's demand to be recognized as a market economy on this issue at least the europeans an

world's top economic powers the u.s. the u.n. japan joining forces to combat market to starting trade practices the group signing a declaration at the world trade organization conference in one sirees it doesn't openly target any specific country but it does focus on state owned enterprises and government subsidies both of which are central features of china's economic system china's steel and aluminum industries are heavily subsidized cheap chinese goods have been flooding global markets posing a risk to jobs elsewhere. you'll tell me is this declaration the result of just a lot of talk we don't actually see any action. well i mean this is always the question how much power the w.t. organisation actually has because in some cases it can really bring something just yesterday this agreement between those who are left in american countries and the european union was signed but in other cases it's a really long process and you can really feel that. doesn't have that much influence because at the end it's an organisation it's not illegal body that can tell for example to the united states will you have to come to an agreement for example regarding the nafta agreement so i

world's top economic powers the u.s. the e.u. and japan are joining forces to combat market distorting trade practices the group signed a declaration during the world trade organization ministerial conference in one is itis the declaration doesn't open me target any specific country but it does focus on state owned enterprises and government subsidies both of which essential features of china's economic system china's c.e.o. and the minium industries are heavily subsidized and cheap chinese goods then flood global markets posing a risk to chops elsewhere. well trumps new tax plans of outraged european leaders and the heads of multinational companies the us president has promised a reform bill that will bring the largest cuts in the history of the united states germany france in the u.k. have led the protest saying that if the bill becomes law it will end up going against global tax agreements. the proposed new cross border today was being cooked up on capitol hill. and complex trump and his administration supports them but the europeans have already said they could retaliate calling the plan's discriminatory and at odds with world trade organization regulations under the new law u.s. compa

combat market distorting trade practices the group signed a declaration during the world trade organization ministerial conference in point as arias particular ration doesn't openly target any specific country but it does focus on state owned enterprises and government subsidies both of which are central features of china's economic system many chinese industries are heavily subsidised they're cheap excess capacity then floods global markets threatening jobs elsewhere . volkswagen c.e.o. might hear smaller stirred up the automotive world this week when he suggested ending subsidies for diesel cars at the pump tax exemptions mean diesel fuel costs almost twenty cents a liter less in germany than regular fuel that costs the government eight billion euros a year instead miller says that money should be used to promote more environmentally friendly technologies like electric vehicles. a new power couple in japanese emo billet toyota and panasonic say teaming up will help accelerate technological development. when people here aleck tricked mobility i think of cars with a heavy and expensive battery and if we continue

looks so strong that the fed raises rates yet again policy divergence widens the world trade organizations ministerial conference ends in discord its chief calling for some global soul searching. and holiday chaos for thousands of stranded passengers low cost european carey and nicki collapses who will rescue the airline and all its customers. and then fizzle and let's do business the e.c.b. has upgraded its growth forecast for the eurozone but left open any moves by the bank to exit its monetary stimulus scheme the european central bank has kept its benchmark refinancing rate at an historic low of zero percent and it will stay there for an extended period of time that's despite policymakers demanding the bank's president mario draghi increase rates to match an ongoing recovery in the eurozone economy and the right setting council plans to continue its bond buying program at thirty billion euros a month from january until at least the end of september dragan says an ample degree of monetary stimulus is necessary and he has ample reasons i'm going to triple decisions have preserved the very favorable for years an

the world trade organizations ministerial conference ends in discord its chief calling for some global soul searching. and holiday chaos for thousands of stranded passengers low cost european carey and nicki collapses who rescued the airline and all its customers. also ahead on the show tackling malaria with tech ugandan innovators come up with a digital blood free device in africa's fight against the spreading disease i've been physical and that's the business side of relief in the markets no surprises no rates rise the european central bank has held its last big meeting of the year it's left its benchmark refinancing rate at an historic low of zero percent and it will stay that way for an extended period of time well past the horizon of its net asset purchases and the rate setting council plans to continue its bond buying program at thirty billion euros a month from january until at least the end of september the us federal reserve has pushed the benchmark rate to between one and a quarter and one and a half percent the move seen as a vote of confidence in the economy the central ban

fair trade based on fair rules that's a principle delegates attending the world trade organization conference in the argentine capital one is odd as it can agree on what that looks like depends on who you ask event kicked off on sunday under a count of us who are still a t two multilateral trade deals and there are more food issues to tackle as well including a proposal from china and india to eliminate farm subsidies worth one hundred sixty billion dollars in several industrialized countries another major disputes and design ending home for fishing subsidies of keen interest to developing countries and we'll be talking about hidden protectionist moves that you might not notice by countries including germany to tip the trade balance in their favor with an expert in the next hour and the basque country is one of spain's most important industrial regions although the impact of the financial crisis was less painful in the north of the country many young people still went to brute looking for work now the economy's picking up again companies books are filling up the well trained employees needed

trade practices three of the world's top economic powers the u.s. the e.u. and japan are joining forces to combat market distorting trade practices the group signed a declaration during world trade organization ministerial conference in one as itis the declaration doesn't openly target any specific country but it does focus on state owned enterprises and government subsidies both of which essential features of china's economic system china steel and aluminum industries a heavily subsidized cheap chinese goods then flood on to global markets posing a risk to jobs elsewhere. well tech giant facebook's promise to shake up its tax structure the world's largest social network said it would booking revenue in twenty five countries where it actually makes its profits rather than via its irish subsidiary so gracious generally face larger tax bills in countries such as germany france and italy where the taxation levels are much higher but experts don't expect facebook to pay more taxes because it will come down to how the company accounts for expenses in each country. now with the holiday season in full swing online retailer amazon has been enjoying huge traffic numbers including in germany as in second biggest market off

world's top economic powers the u.s. the e.u. and japan say that they're joining forces to combat market to stuart in trade practices the group signed a declaration during the world trade organization ministerial conference in his eyes as they carry doesn't openly target any specific country but it does focus on state owned enterprises and government subsidies both of which essential features of china's economic system china steel an aluminum industries a heavily subsidized cheap chinese goods that flood global markets posing a risk to jobs around the world. well canada has dropped plans to buy eighteen fighter jets from boeing over a trade dispute with the united states the deal would have been worth well over five billion dollars but it collapsed after the u.s. imposed uses of three hundred percent on c. series jets made by canada's biggest plane make about india that was earlier this year now the plan purchase was part of canada's intention to upgrade its entire fleet of fighter jets country says it will now buy the planes from australia instead. well off financial correspondent daniel koch joins us now from frankfurt don't know his standstill to wait in the long run from this. one to tell you firstha

talk about organized crime in my family with the one elected official who personifies the complete opposite. i pictured myself on the 57th floor in the press conference room at the world tradeenter tower number two telling reporters any notion having mob connections was bullshit because it was in my family and the word is he was not reachable. in the imaginary press conference and eyewitness come down to the rumors and instead i condemned myself to resist the pull to work for him in the first place. looking at the work for the mobsters to barter or life i woulwith wifiwith do-gooder thrc service. finally, i sat down and wrote out a script that i would need to the governor and this is the script. governor, i have very unpleasant news i feel obligated to share with you. i brother was sent for three months of tax evasion today in federal court in uniondale. the reporters were present one of whom i anticipate there will be a story in the paper, so i don't want you to learn of this secondhand. i read over my little speech with my hands trembling. there was no escaping now. no rationalization. i couldn't pretend that everything would be as it was. the phone on my desk rang. it wa

organized crime in my family with the one account in american elected official who personified the complete opposite? i pictured myself on the 57th floor in the press conference room at the world tradeenter tower number two telling reporters that any notion of mario cuomo having mob connections was bullshit because the mob was in my family, and the inside word about cuomo was that he was unreachable. in my imagined press conference i resigned, and as an eyewitness condemned the mob rumors. then i condemned myself for not protecting mario cuomo and my family and for being unable to resist the pull to work for him in the first place. looking at my work for cuomo as penance for the sins of my brother and mobsters who marred our lives. i would do good to public service. i would clean up the family name. i got up and paste around my office. finally, i sat down and wrote out a script that i would read to the governor. this is the script. governor, i have some very unpleasant news which i feel obligated to share with you. my brother was sentenced to three months in prison for tax evasion today in federal court in uniondale. the judge in his decision also expressed the belief that my brothe