A member of the association of Southeast Asian nations or a group of countries in the in the region that have teamed up to promote Economic Growth the deal aims to eliminate most arrows within the next 5 years sections of some fisheries and Farm Products trade in goods alone between the e. U. And singapore amounts to 53000000000. 00 euros a year its hoped the agreement will result in a rise of up to 10 percent in trade the e. U. s already singapores most important export destination for Services Singapore is one of the e. U. s latest largest trading partners in South East Asia now lets take a closer look at the matter with kevin haydn hes with the association of german chambres of industry and commerce and joins us in the studio now kevin this is the 1st race of the u. S. Planes with member why Singapore Singapore is a very small country if you look at the size of the population but in trade for whom its pretty significant for German Companies its roughly 15000000000. 00 euros that we trade with singapore every year its you can compare this to canada i was just slightly bigger country and so it is pretty significant there also around 1600 German Companies in singapore and they use it as a hub for other countries in asia so its pretty important but im a company which which sectors are we talking about that will profit from this deal the most well this already a lot of trade between germany and singapore as specially cars machinery but also Renewable Energies or sector all medical devices for example they will all benefit from the open market and from for trade. In times of a us president that is really have. A free trade a verbal free trade out for your chief purpose of export Oriented Companies in germany others shifting towards asia well asia is already very important that is true but this trade of being the singapore small sign of like what you can achieve with free trade agreements because as you say right now we see almost every day new trade barriers coming up we have a w t o that is used to be there will set up for the trade so we need to spread it to agreements with other regions of the wallet so that just a minute ago it was imposed pm has said he hopes the deal will lead to an agreement with the whole. Region how likely is that well thats the goal we have singapore now we already agreed on a dream and with vietnam that still needs to be ratified we reckon with indonesia on an agreement but the goal is of course all the ozzie and countries to have a you oz in agreement because the Asian Countries get more interconnected as the Transpacific Partnership already there is there are c e p with china which is really a big Economic Zone so the European Union and germany the companies they need to step into the asian market kevin had no thank you very much. Police in malaysia say theyve broken up a massive investment Scam Syndicate being run out of china Police Arrested 680. 00 suspected telephone fold sists youre in a raid off the groups at cordys around 100. 00 suspects managed to flee the scene more than 8000 mobile phones were seized in the operations investigators believe the detainees are chinese nationals who were running a telephone scam targeting victims in china. Now lets have a look at some other business stories making headlines today the telecom will face all Huawei Technology over the next 2 years and that ongoing discussions of Security Issues with the Chinese Company thats according to a german magazine german magazine. Budget telecom has not commented publicly on the report which sides Unnamed Companies sources. Who are way higher as a canadian courts to lead at least stop the attempt to extradite its detained chief Financial Officer of men one jolt to the United States was always at the center of the u. S. China trade conflict as the daughter of the companys founder was arrested i thank you ali a year ago. General motors says its seeking substantial damages from fia chrysler its father record tearing lawsuit and alleging its rival bribe Union Officials for years to corrupt the bargaining process g. M. Says it could cost billions of dollars says the loss of will have no effect on his plan with persia. Climate change and the policies to mitigate it will make the world a poorer place in 2015 thats according to a new study by the Economist Intelligence units that scored more than 80 countries on their willingness and ability to confront Global Warming lets have a closer look at the study overall the Global Economy will be 3 percent smaller than baseline for cost developing that nations will be worst hit the Asia Pacific Region could see a drop of 2. 6 percent in g. D. P. Is particularly vulnerable to the loss of physical as well as natural disasters could grow in frequency and intensity but it is africa that is most likely exposed to the impact of most highly exposed to the impact of Global Warming largely as a result of underdevelopment economy that is focused a contract by 4. 7 percent and unsurprisingly which regions are most resilient the u. S. And western europe expect contractions of 1. 00 or and 1. 7 percent respectively the report soon countries will make modest efforts to adapt and mitigate the impact of Climate Change now lets bring in the author of one of the authors of this report John Ferguson he is with the Economist Intelligence unit and joins us now from london john were talking about the World Economy 30 years from now how accurate can those predictions be. Excellent its a great question with any forecasts there is uncertainty in particular when you go out 3 decades and climate forecasting and the Economic Impact is also on certain that we have built a robust model with used a sort of dos model which is accident quite a quite a high profile model in the field and weve adapted it with our i and i Climate Change resilience index but as you say any forecast does have uncertainty but the thing to realize from our study is that 3 percent and some of those figures that you just spoke of if we were to miss the weve weve we believe the impact actually be higher than that we believe the risk that about the economy is higher than the nice because we just talked about it because of it because it has uncertainties john is it just about the damage that physically Climate Change will do or is it also the cost of d actions that countries take to mitigate Climate Change. Yeah theres a mix of things natural disasters the as you mentioned the severity and the intensity of those will increase theres also countries having to spend money countries given their sort of plans that were great in the past on the court well have to put plans in place we have to put money down to adapt to Climate Change im sitting here in the u. K. For example and theres going to flood defenses being built and im showing signs of being there in europe but the and that and that really points the difficulty of the developing world has. The figures show that its less then they will have to spend money commuting i can adapt yeah the figures show that the rich western countries of course kind of fortified Climate Change and african and Asian Countries will be hit hard as i mean could one call that climate colonialism. Well i may not use that phrase that does point point to the major issues that we have to develop the world has been house developed over the last 50 years or so in the developing world in trying to catch up and just as its now catching up and we are saying that Climate Change is going to make that even even hotter and just make one other quick point that the issues are not just about being rich and having money to spend its also about the ability to increment policies and join act on those policies and we think the sort of institutional quality of some of these markets and countries like angola for example theres a willingness to adapt to Climate Change but that some countries dont have the capability to adapt to Climate Change so were talking a lot about their policy making not global coordination and thats where the bill would need a lot of help John Ferguson thank you very much. Thank you. Talking about the economic consequences of Climate Change germany has committed to remodel as economy towards Renewable Energy perhaps the biggest symbol of that is its transition to green power and its the wind turbine many thousands of these dots a landscape across the country generating a tricity and a lot of public and turbines are far from popular many say theyre inefficient and at the same time spoil more and more landscapes and after a recent Court Decision germany might be running out of places to actually put them as the ws reports on the drug stores found out. 206 meters high to catch the wind these turbines in the central german state has to generate electricity for thousands of households hence pitter frank built the small wind park for Regional Energy provider back in 2016. Turbines were approved in record time inside 13 months we developed this project an agreement with the municipality for york. And the eels are good for years wind power has been a profitable business. The German Government is pushing to boost the proportion of renewables in the energy mix by 2030 when turbines are a major pillar of the strategy but construction has stagnated like here in the neighboring village of puts. In boats but the approval process took considerably longer because the Environmental Protection issues were more complex but we were in constant dialogue with residents and policy makers. In the end they were given the construction permits but the project has stalled. Thats it for me on the business to watch. The. Euro. Look uniteds. Divide. The money and. What binds the continent to her. Own answers and stories of punching the clock. Spotlight on people. 13 years on w. Earth. Home to millions of species. More saving. As much as those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world like to use the term climate blues to Green Energy Solutions and reforestation. Interactive content teaching the next generation about Environmental Protection and modes of turning to build something here for the next generation the ideas the multimedia environment series on t w. Closely. Listen carefully to those simply. Too difficult. To discover. The i. Subscribe to the documentary on to. Play. The game play. This is. The britains Opposition Labor Party promises sweeping economic freefall ahead of next months general election but his policy trailing badly in opinion polls jeremy. But with still the dominant political issue will this be enough to boost his partys chances also on the program u. S. Lawmakers hold their final public hearings with Donald Trumps speech which inquiry today hearing from experts on russia and ukraine becomes a. Testament
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