Eels are a multibillion dollar business all european fishermen fight against smugglers to sell them to china. This is the new business. Berlin. Its an anxious time for markets as geopolitical tensions persist investors are looking ahead to a face off between the leaders of china and the u. S. At the g. 20 summit in japan that is asian markets are down across the board havent taken a little comfort at reports of a phone toll between 2 countries top trade representatives safehaven assets as that gold has hit a 6 year high. Markets are still sensitive to the ongoing trade conflict u. S. President s trumps goal is simple to narrow the gap between u. S. Imports from china and what the u. S. Sells to china on the other hand in short to cut the trade deficit Exchange Rates play a key role in this one countrys currency is weak then their goods are cheaper for overseas bias trump is accused other countries of keeping their currencies weak on purpose hes also accused the European Central bank and its chief mario druggy of dirty tricks when drug announced that additional stimulus was necessary if the Economic Conditions in the euro zone dont improve the euro reacted immediately it took a heavy hit against the dollar even dipping below 1. 12 dollars for a while trump immediately turned to twitter to and his grievances he said marry a druggie Just Announced more stimulus could come which immediately dropped the euro against the dollar making it unfairly easier for them to compete against the usa they have been getting away with this for years along with china and us well lets see what cost is going to say about this hes the chief economist of i n g germany welcome to the studio cross and what do you think it does trump bryant was easy with the easy chiefs comments on fed to the u. S. I think that software was trying there is a tiny bit of. Truth in it but theres also a big portion of exaggeration in it so yes he is right because if drug wars to cut Interest Rates again the main channel would be the Exchange Rate so it would hardly do anything to bank loans but it would clearly weaken the your Exchange Rate therefore the next exit is benefiting euro zone exporters so its right then to complain that some of the a weaker euro or weaker yuan makes life harder for the us industry everything has been complaining for years and there is always Ongoing Investigation from the us treasury actually on what the year of the euro zone and china are doing with their currencies there is no active currency manipulation going on in europe so yes obvious the weaker euro and a stronger dollar harms us exports more and does a bit more benefit to us european exports but at the same time i think trump holds the key in his hands namely if you were to bring some relief on the trade front we would see stronger growth in europe and then the east d. Wouldnt have to do any additional stimulus. See their. Currency conflict looming this similar to the trade conflict thats already going on no not really just showed the nice chart there by way of the last 4 years actually did the euro dollar Exchange Rate has been trading within a very within a very narrow bent with so this just 1121140 which we are right now this is more or less the everetts of the last 4 years so i think its very hard to really complain and say we are in the middle of a currency war i think that sold this trade war very quickly and then we do not need to talk about any currency war is that what we describe as a cancer currency war what trump is complaining about is that also normal that the various actors on World Markets play with their currencies influence their concept i think its more known that we do see a weakening of the economy we do see a weakening of the Global Economy and therefore Central Banks are reacting they are trying to get ahead of the curve so therefore and e. C. B. Its kind of nonsinging edition a stimulus but also a u. S. Central bank the fed has also already enough that they might be willing to cut Interest Rates again so we see this is just a normal a natural reaction by Central Banks to react so basically drum complaining is like complaining about the weather it is a bit like giving nice comments on what is happening on them im very glad that we do have another prominent east you watch and now in this International Circle but honestly you know this is this is just a cover and we will more focus on the g. 20 meeting than any currency war you mention the fed. Can post on a just idly by about Foreign Countries influence their currencies what does trump expect from from his own several branches nothing here that we had already at the end of last year when the when the fed was still kind of anticipating for more rate hikes so now we have there is pressure on the fed not only out of the white house but also actually coming out of the economy so we do see a slowing down of the u. S. Economy so therefore the expectation is not only from the white house but also from Financial Markets that the fed will also at some stimulus and that they will start cutting Interest Rates over the next month especially thank you very much nissen shareholders how the fractures annual meeting on tuesday the 1st since former boss calls goans arrest on multiple financial misconduct charges net profits fell to a near decade low in the last business meeting so votes on a series of reforms to revamp operations among the most pressing questions facing the japanese carmaker is a long Standing Alliance with brando and be rescued. Quite a lot has happened to nissen since its last annual general meeting the misconduct scandal concerning as to chairman carlos gone has rocked the company over the past 7 months shareholders were eager to hear the plan for the way forward and head of the gathering in yokohama. No the constant reports made me wonder how theyll handle the company and the situation from now on id like to hear from them whether they plan to rebuild the company says its. Not the 1st port of call for an isaan c. E. O. Hero tosa calla an apology he said and go see this in a stop as a representative of our company i would like to deeply apologize to our shareholders for the financial misconduct and the serious wrongdoing by our former executives last year. I said i could dismiss this and there could be almost no you take away most of the misconduct scandal has left in it sounds to decade old although making alliance with french carmaker rental badly damaged but those looking for a quick fix were left disappointed at the meeting said cowles said nissen would be focused on its own performance 1st and foremost before looking to repair the rental relationship none the less than those top brass were also in town for the gathering im very happy to be here and we will attend the General Assembly i think everything to go very well. Read no say they will back no sounds plans for governance reform but given the strain that has been put on this relationship in recent months getting the partnership back to where it once was will be challenging. Earlier this month the u. K. Became the 1st major nation to promise to cut its competitions to almost 0 by 2050 with promises of his im a jew to be replaced next month it will be up to her successor to put britain on course to carbon neutrality. The average british produces 10 tonnes of Carbon Emissions each year thats enough gas to fill 4 hot air balloons but in recent years that figure hasnt been rising u. K. Government says emissions fell 7 percent during 2017 and have fallen 43 percent since 1990 still Government Advisors say british households will have to Work Together with transport providers Energy Suppliers and others if the 2050 target is to be met i am concerned some of the things that need to be done to get to net 0 are you know incredibly ambitious and we need to do something in every sense of the economy in unison actually in the way that we have achieved so far with policy. Young translucent heels are expensive and china japan. Stalks to clive smuggling is on the rise. This week our nick hopes is tending to 1400000 tiny eels just delivered from british waters in this stage of development the thin bony fish are almost transparent which is why theyre called glass eels european ills are facing extinction stocks have been in decline for 3 decades and so far there are no reliable methods of breeding them entirely in captivity is giving them advice it is possible now to get the ills to reproduce and keep them alive for a while but we still dont know what nutrients the young eels need at a certain stage of their lives and the it is. A lot of. These young fish need optimal conditions which means they should leave the basins at the German Fisheries Association as soon as possible and they return to natural waters to grow to full size. And it copes and his colleagues want to be sure that the glass eels are not fished up and sold to farms in asia where eels are great delicacy. Of the year models. Were dressing this issue as far back as 1996 its a war its thought it almost was a lot of that then we said we were already exporting too many of them to asia although it was legal at the time and the price had run away for normal users. That get all of that in the meantime ill prices have reached record highs a kilogram of class ill sells for 400. 00 euros in germany in asia for 10 times that that profit margin has attracted organized crime as authorities are beginning to realize their last ill smuggling is extremely lucrative and considerable quantities are being moved around because you can even compare it with the drug trade her profit margin. Similar trafficking in glass eels can make you the same kind of money as narcotics trafficking. The Customs Officials say its a fairly new phenomenon but that theyre growing more aware of the problem airport controls recently turned up 100000 lives glass eels and a raid uncovered an illegal collection point where the ils were being packed up for the long journey. That outlines even in they put them into suitcases with ice cold water and added ice water in styrofoam bottles to keep the temperature down around freezing them at the time but out that way the animals metabolism will stay low and they have a good chance of surviving the trip was all for falls a silver lead some good news for animal protectionists and 11 years most of the glass eels confiscated in frankfurt were put in the rhine river where theyll be able to continue developing normally. Business. Will go to the duramax new to china. Gold mine of storage. With exclusive insights. Into a must see concerning culture change youre a. Place to be for curious minds. Do it yourself networkers. So subscribe dont miss. Much of it. To link to screw africa. Or links to exceptional stories and discussions from these eat out website dedicated comes to join us on facebook. For. In germany is loudest and internationally best known moscows a provocation out there on the 1st of a stadium and just by dealin pick stadium here in the hometown. And the historic stadium almost looked like it was on file with the bands amazing pyrotechnics but it was and will be heading down there and just a moment here on arts and culture we met up with ramstein die hard fans also coming up on the show this is exactly what you usually dont want to see unless youre a fan of the swiss destruction artist simone bag and from shattered glass to the collapse of a wealthy family we look at putting books the debut novel that while the thomas money a nobel prize in our series of 100 john must read. Ramstein have a reputation for putting on the most amazing large shows that also one of the most controversial bands around with their frequent use of nazi era imagery that often gets them into trouble especially here in. Germany now they just crowned their career so far with the huge concerts in the Olympic Stadium here in berlin a venue which of course was famously built to showcase the olympics in nazi germany back in 136
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