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tv   Business - News  Deutsche Welle  April 2, 2018 3:15pm-3:31pm CEST

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you seriously are benefiting clocks poster is a coming right up with ben facility in business one minute. ago i'm glad. they make a commitment. they find solutions. they inspire a. africa and slow story of those people making a difference shaping their nation election and their continental airlines for cars
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on the move stories about motivational change makers taking their destinies into their own hands w.'s new multimedia series. d w dot com africa on the move. a trade war escalates china hits back it trumps tariffs beijing boosts julies on u.s. food imports that will hit merican farm states many of which voted for the. change in course successful economic reform a portugal set sail for a brighter future moving from austerity to prosperity. and it's a long time till christmas but modern day life is taking its toll on the age old trade of frankincense how would the three wise men have solved this one.
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let's do business it's a face off between the globe's top two economies and it's set to get ugly is financial market tension this hour over a trade war between the united states and china beijing's tit for tat tariffs on u.s. imports kick in today the government says the move is to safeguard china's interests and balance losses caused by new american targets. these american avocados that destined for the chinese market but they might not sell so well anymore now that china has imposed tariffs on fruit eat steel pipes and scores of other imports from the usa the rates of fifteen percent on one hundred twenty items and twenty five percent on eight others. the chinese government says the people support its move though some in china regret the ensuing rise in prices. it's definitely going to have an impact many fruits that kids love only grow in foreign countries we
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don't have them in china that is a direct impact. it's absolutely right to impose tariffs because i've seen the news about the us crapping trade deals with us it's right to fight back. the new turn of the china's initial response to the u.s. move to slap tariffs on steel and alimony and imports the u.s. is also threatening to impose further terrorist on sixty billion dollars worth of other chinese imports a year over what it terms the theft of intellectual property china by contrast is raising tariffs on about three billion dollars worth of u.s. imports. beijing says it will never submit if the u.s. launches a trade war and says that tariff increases are in line with world trade organization rules to protect its interests still the scale of china's new tariffs is modest the move looks more like a warning shot than a major counterattack the u.s. is china's largest single market
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a full blown trade war is the last thing china would want. over to our asia correspondent andrea hing who's based in singapore and ray let's crunch the numbers first of all beijing's hitting back but just how hot well not very hot if you look at the numbers and the big picture three billion dollars of u.s. imports is in and bite compared to the total import annual import number and one hundred fifty billion in u.s. imports ok so there is a big difference john is obviously testing the waters but technically a trade war has broken out even if they're moving little by little both parties when when could things really get ugly. well then you may not have to wait too long for that to happen trump has already announced plans to take china to tell us why imposing tariffs on its take sector particularly the chinese tech products and
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these are with some fifty to sixty billion dollars now on the other side of the battlefield china has also declared war on the usa could cultural say with plans to it's like tariffs on agriculture that is stemming from us sort of trump leaning states in the u.s. now is right and who's wrong in this dispute because i know a lot of business people who have accused china of stealing technology or at least buying it and copying it which some would say is stealing anyway but as far as these tariffs go china does have a right to hit back at trump's tariffs isn't that the case or in the first place trump tariff policy so-called it's whitely disputed as the one who will end all solution for its trade deficit which is your ending that i know you only white about on the other hand yes china is white regularly accused of ip infringement intellectual property infringement it's a tricky point to weave into been because
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a lot of merit a lot of american brand tech products. outsourced to all manufactured in china itself so the actually really do need each other and in this case i should point out trying to raise going by the rules book it's doing everything it should according to the w t o but just tell me about these u.s. food imports you hike of of beijing's it's going to hit american farmers including kong growers who produce ethanol with some chinese refineries saying it now makes no sense to import that if the dollar but rather by a local because of the higher import tariffs. absolutely know that that price difference is gone there's literally no cost virtually no cost savings on china's part so it's a good opportunity for china to grow its domestic market ethanol specifically in this case they were talking about so with that presence gone and eliminate it there much that in mind is now going to be transferred to the local chinese market
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finally what about financial market reaction you've always got to look out for this one when it comes to china stories we're talking about was top two economies going head to. india it's a real big battlefield out there being fought right now needless to say everyone is know this we've seen a lot of swings in the market particularly in asia and the particular markets that are going to be worried on market such a simple way we are very leaning to wasn't us benchmark so until the pendulum stops or everyone just seems to get settle with the pendulum swing the unsettling feeling off the pendulum swings it is still very much that needs to be looked out for at this point exactly in the swings could get bigger as we go by on this story thank you very much for your analysis from singapore and raining there for us when economy that's done the hard yards portugal the financial
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crisis hurt. even more at first but the country's pulled through and started spending again well before everything looks rosy growth is now at two point seven percent we took a trip to a warm and bright and looking out of europe for you business is going pretty well for even oldest his co-operative has been making one since nineteen fifty seven but sales haven't been this good for years. in the beginning there were only this part and then you have to upgrade it to increase the capacity then we buy those we will double the capacity we. just side by side because we are in the maximum capacity of production and we have more demand than with what can you produce around thirty people work in the cover where a cooperative. working conditions have improved for most portuguese in the past two
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years thanks to a raft of reforms including a higher minimum wage instead of starting economic growth it's accelerated it at least that's how the portuguese finance minister sees it we have done some increases especially for the most poor. people for the pensions but we have done this in the. correct way by complaining the gross of the spending with the growth of the g.d.p. portugal is also trying to stimulate the tourism industry regulations have been eased for hotels and restaurants and as well as cutting spending the government has also cut taxes and the gamble is paid off millions of tourists are now visiting portugal especially lisbon. to izmir the important impacting recovering of our cities but now is having an important impact on the developing our rural areas
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because where a cooperative is sixty kilometers from lisbon but the wind produced here because the name of the capital it simply sells better to the increase of tourism in porto this one's really trendy the labels are really important nowadays. but not everyone is profiting from the new wave of tourism rising property values are changing neighborhoods low income locals are being forced out like fernando tex era who grew up in port on the banks of the river he can only afford to keep the studio as the new bars and restaurants drive up the prices of what a new one you are going to school there are no portuguese people that can afford to pay rent in this area not one i was born here and i was thrown out so a hotel could be built and i have to move way back down if we prolly evil all those things the government should make sure everyone benefits from the economic upswing but he remains optimistic that portugal can find prosperity
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without the need for stare at. this month kicks off frankincense season in oman in the middle east the reason is harvested this time of year to create the aroma so many of us associate with christmas the trade has survived centuries of modern life is taking its toll. frankincense is using essential oils from french perkins and that has partly helped drive global demand. part of the region inside a no man's land of frankincense a weld heritage site. that you go nobody talked about sort of what i mean frankincense is still considered a precious wealth and the trees are rare and in order to protect them we collected trees from many places in the door for profit. we protect them up that's reserved for natural frankincense trees. you've got.
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efforts here could help protect the bulls william trees that produce the resin for frankincense for trade in the future demand is so high that the trees here do not have enough time to regenerate. but there's more to the us cool site here this area was also an important stop on the ancient silk road which runs all the way to china in those days frankincense was traded in exchange for spices textiles and silk. meister business was.
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