tv Business Deutsche Welle September 6, 2019 6:45pm-7:01pm CEST
cling to communist governments most ambitious social engineering project since the cultural revolution. i'm chris colfer welcome to the program germany's leader wants to embark on a new phase in the european union's relations with china while washington continues to hike tariffs on chinese products on the mantle is pushing for a european investment deal with beijing not only that she's banging the heads together reprimanding the unit u.s. and chinese for their trade war in 1st meeting with chinese premier li keqiang at beijing's great hall of the people whose mega said the dispute is affecting the whole world and hopes that both sides will resolve it soon mr lee didn't seem to focus on his country's problems with the u.s. but rather with germany telling the chancellor he hopes germany will accept more chinese companies and loosen export rules for certain goods he went on to say once again that china promises to open up its economy even more.
china is becoming an ever more important trading partner for the european union since 2002 a trade has almost tripled according to data from the europeans to to 6 office last year the total trade volume between the european union and china was 605000000000 euros now the bloc exported products worth more than 200000000000 euros to china and imported nearly 400000000000 euros worth of goods. the german business view with regards to china could be summed up as one of huge opportunities coupled with huge challenges one of the main worries is china's new social credit system as well as its own citizens the chinese government also evaluates companies using a point system and penalizes things it doesn't like german companies fear it's becoming a method of blanket surveillance and they say the system is neither clearly nor transparently regulated. the internet is also
a bone of contention foreign companies in china still have complete access to the world wide web but beijing plans to introduce laws to curtail potentially shutting down google or twitter in china. and the old problems with fair play and market access are still prevalent despite repeated promises of improvement german companies say they are still discriminated against in china the chances for major concessions in these areas have never been as good a trade war with the u.s. has china under pressure economic growth there was a direct hold low in the 2nd quarter so there's a serious need for foreign investment. chang joins me he's the director of the china institute at the university of london welcome to the program steve with a rising need of foreign investment do you think china will be more open to calls from german companies for better market access. well the chinese government who opened china why open to germany companies that provide the technology and
industrial products that china needs particularly when he's dealing with the tree will be the united states it may be rather less receptive to german companies for exporting goods that the german companies want to export. now when we look at the tensions in hong kong how much do business concerns play a role when it comes to beijing's ways of addressing this crisis. well the chinese common care about hong kong. utilities to china and they are not so much about industrial side of it but the finance who signs of it because hong kong can raise capital in ways that for example shanghai or shouldn't change cannot do so they do care about it but ultimately they care more about the communist party who you know kong than about. the foundational liability of hong kong do you think
beijing is worried about at all about trustworthiness in all of this particularly runs when it comes to business relations well from the chinese government's perspective trust both in this is a metal whether western companies can't burned the trust of the chinese government and not the other way round they assume that the chinese government must command the trust of any western companies for china to operate in china we have already seen to pull the hong kong how the chinese government with cathay pacific and in the end of the pacific or any other major western companies in that situation will have to vouch to the chinese government or so they believe and steve is of even sensible to talk about open market access when the government does everything it can to supervise its people and companies in the country. look the chinese perhaps would say to east they will light free open access with chinese crude to reach 60
it means that even areas where they leave school used to have particular western companies will german companies in particular to have free access a week like that. beneficial to done the xs will be much more restricted saying of the china institute at the university of london steve thank you for your insight. and let's 1st over now to frankford with only bart's standing by at the frankfurt stock exchange early optimism that china and the united states are able or would be able to resolve their trade dispute have been ball soaring stocks in recent days is this optimism sustainable well it wasn't quite sustainable yet now this friday because there was some little bit disappointing economic news coming in from the united states the job market not
adding as many new jobs as expected but all in all i think that optimism still stands because the dax and other european markets made a lot of ground good this week and basically that that ground was defended today if you will that's a little bit battle talk but let's just put it this way the optimism is still there but of course it has to be proven by perhaps news that are leaking out when the staff are talking sometime later this month and then when the negotiations actually actually take place in october but there's a lot of optimism the market also fuelled by the developments in london and parliament the threat of a no deal bret's it moving away maybe even the threat of a breakfast moving away that's also pleasing investors now and only it is friday let's take a look ahead next week could be a decisive one when it comes to addressing the economic downturn here in europe. that's right the newest economic data shows downwards for germany and euro zone is
also losing speed and it's now maybe and the court of the e.c.b. the european central bank to do something a lot of people expect to do something when it meets at its policy meeting next thursday here in frankfurt and the betting is that the deposit rate will go down that is banks will have to pay an even steeper fine to park money at the e.c.b. whether that really does anything to address economic woes you won't know but the market will be looking forward to that and reacting if it doesn't happen all of us in frankfurt thank you. and now to some of the other business stories making the news chinese internet from wal-mart alibaba is to buy the e-commerce business cola from the chinese company net ease for $2000000000.00 the platform specializes in the sale of luxury foreign goods the purchase is part of alabama's attempts to secure a niche segments of the online retail market china's central bank has loosened its
reserve for acquirements for commercial lenders across the country freeing up 100 $26000000000.00 for lending beijing's their latest effort to stimulate a slowing economy that has been hard hit by a dispute between china and the united states and the european union has responded to pressure from the european steel industry by reducing iran is in the quota of foreign steel allowed into the block from 5 to 3 percent the sector has called for increased protection due to us. and back to china where a social credit system has not only businesses on the edge but also regular citizens they have to abide by strict rules set by the government and they affect every aspect of daily life including recycling. several 1000 people live in this shanghai district and recently they started separating their waste
communist party authorities brought in the new regulations as part of the country's environmental protection policies. and. the party's district committee is eager to show us how painstaking and enthusiastic everyone is a broken new program detail diagrams at the disposal center show people what is allowed in which contain a and what note follow it's very difficult to follow the new rules to the letter. i was always wondering which bin i should put my egg shells into dry. way store which i decided on dry but the wet containers would have been correct because egg shells decompose and it takes me a while to get used to new rules impossible for me to master them all at once here . regulate 3 patrols roam shanghai the seed 600 coalitions within the 1st 2 days of the new regulations citizens face fines of 25
euros for not separating my trash correctly companies face penalties of up to 6400 euros. 69 year old paying is a party member it's her job to watch over her local housing estate her ensure no one makes any mistakes. dancing and singing she's now developed a passion for separating waste she checks everything with an eagle eye there are thousands of volunteers like her vying to fulfill their patriotic do you. know what i'm a someone isn't sure what goes into which we help them out that so embarrassing for them that they really aim to get it right the next time you have someone spat managed. to report them to the citizens committee they then visit him at home to talk with him. there are incentives for the local eager beavers who are given points for separating correctly making the effort worthwhile
. when you've collected enough points the government rewards you. just you can use them in exchange for the basics of life like fred. educational videos about waist separation or even running an underground car parks . not to forget the obligatory. after years of environmental mayhem china is trying outlast to get on top of the problem. and that's it for me in the business to mirabelle and for more news in features you can always go to www dot com slash business or follow us on facebook or twitter and also watching and have yourself a successful.
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