You can live without your smartphone. Or to make those the supermarket. As we go about our daily lives human rights are all from the last one mind. Invisible hands. In the twenty First Century starting december second song to double. The. U. S. President and china jinping out of signed a whopping two hundred fifty billion dollars. Of deals in. His first visit to asia but critics say it will take more than the. To reduce the extraordinary trade imbalance between the u. S. And china. And the you crack down on tax avoidance at least thats the plan speaking to d. W. The e. U. Finance commissioner says the key is naming and shaming. Visited of your business welcome during his visit to china u. S. President s donald trump and his chinese counterpart xi jinping announced bilateral deals worth two hundred fifty billion u. S. Dollars the two leaders seem to get on well but looking more closely relations between washington and china arent all that cozy the past donald trump repeatedly accused beijing of unfair trading practices and has threatened china with tariffs well last year the u. S. Exported goods worth one hundred sixteen billion u. S. Dollars to china because many u. S. Companies now manufacture their u. S. Imported about four times that value of goods from their Chinese Foreign direct investment in the u. S. Hit forty six billion dollars in two thousand and sixteen but so far donald trump it has dropped significantly now while donald trump is known to criticize the u. S. Chinese trade imbalance he doesnt blame china for it heres what he said in a speech to Business Leaders in beijing the United States and china will have a more prosperous future if we can achieve a level economic Playing Field right now unfortunately it is a very. Fair one but but i dont blame china. After all. Who can blame a country for being able to take advantage of another country for the benefit of each other since i give china great credit. Well the signing ceremony in beijing the two president s witnessed many u. S. Companies selling lucrative deals u. S. Chip maker qualcomm for instance has signed agreements worth twelve billion dollars with three chinese smartphone makers and boeing plans to sell the jets to the value of thirty seven billion dollars to the state run Aviation Holding eighty and is imminent takeover of time warner has been held up by the u. S. Justice department raising speculation of political payback from washington eighty indian time warner had hoped to conclude the eighty five billion dollars deal by the end of the year but some lawmakers are concerned about concentrating too much power in the hands of the telecoms giant so authorities have reportedly told the companies they must sell some assets before the deal goes through including the c. N. N. News channel which is owned by time warner u. S. President donald trump as an atheist is a fierce critic of c. N. N. And its coverage of his administration and the new owner might not be able to finance its reporting resources eighty and he says it remains confident the takeover will go through as planned germanys opel is looking to a new future under french on a p. S. A. Analysts say former owners u. S. Auto manufacturer General Motors only ever put the brakes on the companys development but it looks like the ailing carmaker is returning to the road to success. Ople c. E. O. Presented opals new strategy for the future the good news is that no more workers are being fired at least not yet very important and i want to address this at the very beginning. To achieve our goals without plant closures and without force redundancy in europe thanks to strong improvement of competitiveness Opel Vauxhall has been making losses for nearly two decades and now aims to breakeven by twenty nineteen and then show profits the year later in its eighty eight year ownership of opel u. S. Giant g. M. Restricted the last play outside europe barring it from entering the lucrative Chinese Market thats about to change opel will be available in china and the us opals new profitability plan is called pace it calls for renegotiating salaries labor costs will be cut through Flexible Working time arrangements buyouts and early retirement furthermore opel plans on scrapping the existing g. M. Technology and replacing it with p. S. A. Technology by twenty twenty new production methods should lower production costs by seven hundred euros per car last but not least opel will build electric versions of all opel models the European Commission proposed on wednesday that thirty percent of new vehicles on the continent should be electric powered by twenty thirty by implementing these measures opel will end up saving one point one billion euros annually nice thats the hope of the Mother Company in france. Where the Paradise Papers a sparking action from the e. U. Commission. Says Member States travel and will do much more to fight. Top priority is the creation of a blacklist to name and shame jurisdictions that cater to the wealthy firms and individuals yet the un has been working for two years. On similar measures with the limited success consensus remains a challenge or momentous with a low tax rates and of their own the head of the European Commission john clode younger is themselves accused of aiding tax avoidance as luxembourgs Prime Minister my colleague daniel winter put it to mr moscovici that this gives the commission zero credibility in fighting tax dodging. Absolutely false this commission has done more on fighting tax fraud and tax evasion than all the commissions in the previous twenty years if you know your employer you dont think it had waited minutes its not due to the fact that this or that person ids here due to the fact that we are in the new window in the new area new period which is a period of transparency i have proposed that i am the tax commissioner and ive got full trust of them could you or i act in these name i have proposed eleven proposals directives among them six have been adopted which is not that easy if you consider what is the rule of unanimity inside the e. U. We have the best treating ever for a commission trucker you could chose to commissioners my colleague not going to and myself who are really i think a team which is dedicated to that it take to of massive tax avoidance you know you can all say the hot new thousand and three he encouraged amazon to put its tax base in knox and im talking about the president of the commission and dr you are president of the commission and this commission we are i can say that quietly but very confident keep the champions of fighting tax fraud and tax evasion we talked about this is a Commission Proposal i will mention two other proposals the one is the first one is is that i think that the activity of those intermediaries legal advisers. Fiscal advisors or banks it must be made transparent to the next administration and the third one is that we have already established a country by country reporting this is one of the six directives i mentioned but between tax administrations i would like it to become public i think there is no a position between investment which we want to protect the event you want to look around and say yes because transparency if you. Burnsy is the only way to tackle with those phenomena if we can reach our goal but when you are addressing what you are looking for how will this affect the average person in europe who is watching this right now if you do manage to get what you want and close these tax loopholes and blacklist these tax havens i think that what we are attending now with those Paradise Papers which is a scandal but probably those practices are mostly legal but they are not moral this cannot be possible why because it exists only because it is even and certainly it is revealed if it is transparent if it is public it is not possible anymore you know all those people all those structures all those companies all those states which today named and shamed after the brothers paper if their activity would be immediately made public then they would be much much more for thats why transparency is the massive destruction weapon against tax evasion against tax aggressive tax planning and thats why this commission is so so strong on france broke the you could commission right and you mentioned the threat the potential threat of sanctions what are we talking about here are we talking about fines directly for a few who try and squirrel away their money in tax havens are we all its ok because unless theres a significant legal threat theyre going to continue to say tax avoidance is a misdemeanor were not talking about firms were talking about the states when you have a blacklist of tax even if youre talking about the states or territories weve mentioned some of them getting to the ground but there are those states will be which will be listed and i hope that we will have a very. Strong list strong by pleased the sanctions must be linked to our own capacity to their own linkage with the union i would mention for example well create deals. Or multilateral or Bilateral Agreements that we have got with them that can be suspended but the best thing should the strongest tension is the name and shame ok relieve me nobody nobody will like to be there and in one word are we now finally going to see significant change and cracking down on tax havens under your leadership in this case its not up to me to decide that you know the commission as a prominent role because we have the monopoly of the initiative and we have taken so many initiatives i mentioned three of them and believe me if they become decisions that would be different but but the ball is in the camp of the Member States its up to them to decide they have to decide they have to deliver. And everything they have to deliver blew a hole in the end of this year two thousand and seventeen is the year Pierre Moscovici thank you very much for taking the time to talk to us today. Or your business thanks for watching eleven update for you in the next hour dont forget to follow us on social media on facebook. On twitter. With Business Update in brown about forty five minutes thank you for watching. He is one of todays most exciting concert pianist. She is a Huge International star. Is performing side by side with the news of the more time. What brought the phenomenal pianist and the virtual also violinist together your romance. United against climate change. The challenges for the twenty third u. N. Climate conference involving. Our nations working to meet their Paris Agreement targets cop twenty three this weekend next on the doubling news. The freedom expression of. A value that always has to be defended and new. All over the world. Are to a Freedom Freedom of art. 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