Transcripts For DW Business 20240713

And quality. Government television reported last year that nearly 90 percent of vietnamese people took part in the event not even communist vietnam is immune to black friday to india where the economy grew only by 4. 5 percent in the 2nd quarter thats the most sluggish its been in over 6 years current slowdown is due to a slump in consumption related to rising unemployment in this 3rd largest economy is also feeling the effects of trade conflicts elsewhere for some countries a growth rate of nearly 5 percent would be a drain the india its for life. And that is palpable young and well educated indians are leaving the country in a steady trickle favorite destinations the u. K. And the u. S. And only about uses every spare minute to swat up on law the delhi attorney wants to apply for a masters degree in london she thinks itll improve her career chances at 26 she wants to put Indias Economic crisis behind her i have been thinking about doing it are doing my masters for a very long but i know with a lot of the present situation on the economy i just thought that this is it i think i should be doing. Ive had enough. With work as so i thought that this is the perfect thing. The latest figures show the Indian Economy growing at only 5 percent the lowest rate for 6 years and too little for an emerging economy like india unemployment is climbing with 37 percent of 20 to 24 year olds out of work and almost 11 percent of the 24 to 30 age group. Those who have work like a nanny and her friends are often unhappy about their pay levels and career prospects. I dont see much growth in terms of salaries that we are getting and how they influence it is amazing in india. We have legs stagnant away what lays balance is they very well not bad but i would say valid of a less as compared to the Foreign Countries especially in countries like london australia im gonna go the Workplace Violence is very good you have a good balance i mean youre paid right. Immigration has something of a tradition in india the u. N. Estimates that some 17 and a half 1000000 born in india now live abroad and the current economic weakness could easily provoke another exodus and anya still has a lot of questions about going abroad and she sought out a visa agency in delhi theyve had a lot of inquiries recently. If you talk about. 10 to 15 years and there was a 100 cases produced a matter but now what i see is. In a month only 100 cases we have filing which means migration is raising if it wants to go theres no harm in trying you never know i mean i am i just get a Good Opportunity to settle down that if it works out and you will move to london next year for her masters of her greatest good enough shell have a chance of settling there for good. And for more on that lets cross over to our business. India has long been seen as the emerging powers next to china whats holding it back again idea its a mix of both external and domestic reasons externally india like many other countries is feeling the heat from global trade wars but since the Indian Economy is not as dependent on exports as see a German Economy its more to do with domestic reasons and thats pretty predominately predominantly its to do with the liquidity crunch especially after the collapse of a major shadow bank there has been problems of cash in the system in the market the mainstream banks are also prince of to do a lot more money because theyre reeling from huge piles of debt but elephant in the room really is consumption private consumption has fallen and that is actually prompting many con companies to hold on their investments so what can the government do to fuel. The rest of consumption and turn because of your own. The government has been taking measures in the past few months eased the rules for Foreign Investments theyve cut their corporate taxes they also announced an ambitious Privatization Program but experts fear that the government needs to do much more i mean they need at this point of time to go for Structural Reforms in labor laws in things like land reforms have to undergo that because they do need to have the fiscal space to spend a lot and thats a reason why they are going on this privatization drive to actually get some more space there theres always been a big Indian Expat Community in the u. S. And in britain with all these young people leaving india right now whats different. Well there is more of venice to begin with there are more Success Stories to be heard and these are not Success Stories of people somewhere far away but in your neighborhood this neighborhood kid whos really done really really gone abroad and this to actually started with the boom in the id sector with india indian engineers being sought after so it is actually a process and at this point i am i would be a little cautious to link the current economic woes with the increase in migration because its been a gradual process over the past few years now. Thank you for. Hong kong area Cathay Pacific airways will be trimming Passenger Capacity by 1. 4 percent for the next year due to the ongoing protests that have hampered travel to the city thats according to reuters they have planned to actually boost capacity to Home International Airport Company says the commercial environment continues to deteriorate and another sign of trouble to home post Tourism Sector discount Carrier Hong Kong allans also announced that it is delaying payments to staff for this month saying its business has been severely affected by unrest in the asia. And to some of the other Global Business stories making headlines today german car make a dime less says it will slash at least 10000 jobs worldwide in a major cost cutting drive to help finance the transition to electric c. E. O. Oloughlin hughes said had previously announced layoffs as the company they he is restructuring to adapt to changing com accounts set to be completed by 2022. The number of Unemployed People in germany has fallen to its close level since 1990 in november fewer than 2200000 people were without a job consumers in germany and spending more boosting the economy and the job market. Japanese beer exports to south korea hit 00 last month amid boycott sparked by a similar trade draw between the 2 asian neighbors japanese food exports in general were down almost 60 percent according to broadcaster and age the figures show what began as a diplomatic feud over compensation for forced labor and world war 2 has evolved into a minor trade war affecting more and more industries. Calls not to buy beer and other products from Japanese Companies have led to a substantial reduction in trade more and more store owners have joined the Boycott Movement south korea is no longer one of the biggest markets for japanese outcall according to the news agency kyoto korean spent a paltry 7000000. 00 u. S. Dollars on beer last month far less than usual. And its not just sales in the amber brew that are suffering the trade war has hit various industries from japanese carmakers to Korean Electronics suppliers but now both sides seem willing to settle their differences. The 2 countries agreed to hold export control policy talks in tokyo in the 3rd week of december. Hitch. The trade rift started last year over compensation for wartime labor south korean courts order japanese firms to pay compensation to koreans wartime laborers japan condemned the rulings arguing that the dispute had been settled in 1965 when diplomatic ties were normalized between the 2 countries it then went on to tighten controls on south korean exports targeting materials used in memory chips and display screens that are vital for Companies Like samsung the 2 countries then removed each other from their list of preferred trading partners making export in goods more difficult but as both sides hurt financially they appear ready to find a compromise. And to football and the finances of it the Parent Company of English Premier League Football Club Manchester City is to buy a majority stake in indias mumbai city City Football Group is set to buy 65 percent in the of the club in the Indian Super League bollywood actor and be a kapoor and accountant female operator own the remains as stake City Football Group also owns majority majority states in the new york city of c. An australian a league team and city. Group china Great Wall Motors have announced plans to build a plant in to produce electric versions of b. M. W. As many electric many as possible use and all electric vehicles account for at least 15 percent of global sales in the next 5 minutes started losing electric model of its box office of england this year chinese factories schedules to go on line in 2022 and produce 160000 electric means. And thats it from me and the Business Team here in. Our pride. India. To misery. In 20 minutes seen as devastating deadly and destroyed the cinemas can even villages. The survivors started creating dolls from damaged cloth giving up was never an option. A story of success. In the minutes w. Was the speech of his life perhaps his best certainly his most difficult chancellor helmut kohl and addresses the people of east germany shortly after the fall of the wall. The crowd clamors for german unity journalist peter lim borg was at the scene. 30 years later and he looks back on the title. Starts december 19th w. And some of the adventures of the famous naturalist and explorer. To celebrate clicks on the front of the boats from 250. 00. Marking a low for each of discovery. Expedition in blood on the a. Closely. Listen carefully. Dont know is soon. To be a good. Film. To discover who. Subscribe to the documentary on to. This is deja vu news live from berlin after weeks of violent protest iraqs Prime Minister decides to take responsibility i dont automatically says he will offer his resignation so parliament can choose a new government more than 400 people have now died in an anticorruption protest that started in october. A media report that Prime Minister Joseph Moscato plans to resign imminently as the crisis sparked by a journalists murder engulfs his close ally. Also coming up fridays for future