Oil will continue to rise and thats. Welcome to do business. With us the United Nations says the u. S. China trade war is harming both of the Worlds Largest economies a report by the un conference and trade and development suggests that consumers in america bearing the brunt of higher tariffs on chinese goods calling the trade war a lose lose situation the report comes us washington says americas trade deficit is actually rising. Us President Donald Trump talks a good talk about reducing americas dependence on foreign products but the latest report from the u. S. Commerce Department Says americas trade deficit is higher now than a year ago on an annualized basis and that demand for foreign products has actually been rising under trouble whats more the u. N. Conference on trade and development in geneva says both china and the u. S. Are losing their trade war. Washingtons trade war with china continues to draw fire from other quarters as well. Theres a lot of people who have frustrations in the u. S. And europe about chinese policy and i think many of these are warranted in terms of intellectual Property Rights or forced Technology Transfer or lack of reciprocity in trade investment i dont really think the way trump is approach these is the best way to deal with them i think there are efforts that you could make with the chinese that have their own interest in reducing some of these barriers so some will say the focus on china had been long overdue i think well have to see what he actually produces out of it because i think theres a better approach that approach might take into account americas overall appetite for goods from other countries the commerce Department Says though trade is declining with china the u. S. Is more than making up for it by buying from other nations. And hows the trade were impacting china in the region around it well its assets 100. 00 sue our man in taipei good to have you with us now the u. N. Study shows that chinese exports to take trade hit by the trade war how does that reflect on the economy inside china ok he seems to be with us but he does not seem to be with us thats a pity well try again in a bit in the meantime its known as the Asian Silicon Valley asian said in a Southern China 40 years ago it was just a small town today its a major take up attracting millions of city to alice a serious competitive and a semi autonomous hong kong. And is still growing albee it at the cost of its citizens. He has no time to talk mr town is hurrying through the streets of shenzhen he has to act fast his old place is being demolished. I need to find a car i have to move house. The houses here are being torn down and i need in flood. How many. Tons daughter is waiting on the street with all the family possessions its about to start raining every minute counts otherwise everything will get drenched. But when he asked how much 120. 00 un was it then thats ok. My beans are up the street. Just 2 months ago he was told that the whole neighborhood will be torn down to make room for luxury apartments the town is a craftsman and will probably end up building a few of them but he cant afford one himself so he has to leave his new flat is far away and costs twice as much its going to be difficult to provide for his family. Budget that if you dont leave the city turns off the water and the electricity will battle it out but if you get a. Ton lives in the buy she jew district of shenzhen 150000 people live here mostly blue collar and Office Workers with little money and modest aspirations the streets are narrow the flats are affordable by she jew is the center of the city not far from the posh buildings of downtown an ideal place to build a city leaders are planning more luxurious skyscrapers. On the other side of the bay another mega City Hong Kong the city has big troubles for the powers that be in beijing shenzhen has to grow to keep hong kongs power in check. Official City Developers like dr chowed know that theyre planning the next luxury mile to attract chinas elite of business worth billions i says of the buy she jus district is right in the middle of the High Tech Park she and gentleness in order to further develop it we need well educated people who are looking for a Better Living situation. To hold on to. And that means the death of small. This is in the area chinas big goal of leading the World Economy doesnt take the lives of ordinary citizens into account those who dont make the cut lose their livelihood and have to go. Returning now to the impact the u. S. China trade war has on the economy a hand sue stands by for us in taipei 2 were talking about a United Nations study that shows that both the u. S. And china hurting under the trade war and that chinese exports as starts to take a hit in particular how does this impact the economy there. Are almost a year of dollars problems tariffs Chinese Companies are forced to lower the price of their exports to the u. S. And chinese chinese manufacturers they are also suffering from the cost of the trade war that they have been struggling to break even with china as Producer Price index falling for the past 3 months and chinas biggest twice yearly event they count on a fair also saw for the 1st straight client and export orders but the trouble continues so not only the exports imports have also dropped almost every month this year is that in april so remember how chinese president xi jinping said that china will open its markets well in fact behind it that all theres a lot of the pressure from the tray work that is piling on here if he is not able to turn the economy around that he might not be able to stop the tray war from turning into a full long cold war all right and just very briefly if you would the report also says that other regions taiwan particular is. Benefiting from that trade was the true. Yes well its shot growth of taiwan in the 3rd quarter of 2900. 00 how is g. D. P. Growth is 2 point you want or said its the highest only positive growth among the 4 asian tigers thats hong kong south korea and single or so because the trade diversion in fact many manufacturers move their production from china back to taiwan and dometic many factories are also using existing equipment as many factors to adjust production proportions because the trade works so theres really not a growth we can see here in taiwan. Sue theyre reporting from taiwan thank you so much. The opec Oil Exporters say rising demand for energy especially in developing countries means global appetite for oil will continue to increase if not as much as initially thought the cut forecasts a 12 percent rise in demand by 2040. Will still be flowing in torrents in the future according to our picks on your report it says as late as 2040 or you will remain the worlds most Important Energy source whats good news with some this is that back for others industrialized countries for instance that are trying to replace fossil fuels with renewables to counter Carbon Emissions the opec report says Oil Consumption will rise in asia especially and with the Global Economy set to double by 2040 all sources of energy will be needed in the year 2040 projects that oil will account for 28 percent of the Worlds Energy mix followed by gas and Coal Renewables will account for 1000 percent a nuclear full 7 percent opec says the figures a corroborated by other studies. But even by 2040 all over new abodes. Estimated to make of our own 2 percent of the global image mix. Expedience is the largest demand girls share of course the most oil is expected to remain the former with the largest share the economies are growing especially asian giants china and india the need for energy of all kinds whether false old or nuclear is already enormous and for no opec isnt scared only electric mobility either its members are certain but even in 20 years time only one in 4 cars will be electric. Financial markets responded Chelsea Delaney in friend for chelsea given the current heated discussion concerning Climate Change is this forecast by opec nations just Wishful Thinking theyre certainly still is agreement that we havent reached Peak Oil Demand that countries especially china india as you said are still going to need oil Going Forward because there really isnt a substitute for for over for oil use now and things like aviation and shipping but i think theyre also if there is an outstanding question of how does this align with that with this Global Movement were seeing towards Climate Change and a lot of a lot of analysts a lot of investors are saying that in these 4 has to not this point really take into account potential government changes in policy like weve seen in germany towards Carbon Pricing i think the other question as of course going to be Economic Growth and things like if if theres a big shift and the chinese economy that could certainly also impact this now but if opec is right with this forecast why then is of all countries saudi arabia trying to diversify its economic resources. Theres been a lot of a lot of the public messaging that both Oil Dependent states like saudi arabia and companies have used its really walking this fine line between we expect. To remain really important but also we are making huge investments for the future so they definitely have made and best interests for Example Energy as companies have its well all right Chelsey Delaney them reporting from from foods thank you so much. Now then good news for female soccer players the australian Womens National soccer team will earn the same pay as the men and get an equal split of commercial revenues for the 1st time under a new deal the mens soccer traditionally have been paid more than the womens matilde us and a greater share of earnings the matildas profile grew dramatically though during that 29000. 00 womens world cup and for us. Thats a Business Update here and you dont hear from me in that scene and billing as always thanks for keeping us company. Pictures of joy and evolution on a night that change the world 30 years ago on nov 9th history was turned on its head as the berlin wall which had stood for nearly 3 decades began to crumble. And with that welcome to arts and culture in a week thats marked by remember its of this momentous event in german and in World History and heres whats coming up on the program. Celebrations of the anniversary are happening all over the city at historic locations with installation exhibitions readings light shows and concerts planned until this coming sunday. And former east german dissident and songwriter beer money teamed up with chinese poet. To commemorate the wall anniversary and the horrors. Square. Its hard to celebrate enough the event that led to german reunification some 200. 00 events are going on all this week across the city and one of the places that played a key role in east germanys peaceful revolution 30 years ago is the guest salman a church in what used to be communist east berlin and lets go over