The down and the false flag and says a hiring climate campaigner who is a Company Claims will be able to scrutinize fox wagons environmentalists pops. On Chris Colburn bill and welcome to the Program Europe is bracing itself for more covert 19 infections as the death toll in china stands at over 2700108 growing number of European Countries all reporting cases of the new coronavirus as well the hotspot in europe is northern italy with 280. 00 cases and 11 deaths so far other cases can be found in france germany austria switzerland. And finland as well as in sweden belgium britain creation and spain there have only been separate cases and most of the countries mentioned and some people have already recovered still tame compared to the outbreak in china but officials are on high alert and the virus is posting a serious threat on economies like germany france and italy where growth is weak or in the klein lets expand on that with god hes the president of the kill institute for the role economy one of the leading heads in germany when it comes to globalization good to have you on the program gabriel. Cover 19 has spread to europe from an economists point of view how dangerous is the virus. Well that the virus has the potential to disrupt Global Production chains and now as the virus has arrived in europe you can even disrupt your pin production change. Of course we still dont know how serious this really is particularly within europe where we will see for example border controls at the austrian italian border that would be things that could really produce frictions in the production chains of companies and give us an idea of the dimensions of the problem were looking at him. So look were were facing a Global Economy thats not doing very well trade has been in decline over 2019 and its not really recovering now we have very weak Industrial Production even declining Industrial Production in places like germany and now the one of us crisis hits china accounts for a 3rd of. Growth of their world and if a china doesnt generate any goals in this 1st quarter that will mean that the world is not growing to 3 but 2 percent and that has important implications for for the for the demand for traveling goods for example or and actually around the world for germany with think that the crisis has the potential to knock off Something Like as you reported 2 Percentage Points of growth and in a situation where we are more or less at the at the at this level so the crises can push germany into a technical recession now companies are trying to manage their stock their inventories some are trying to shift production out of china to places where the virus has not spread so far. What else can they do and is that the right step. Certainly companies do what they can but there are limits you know the global value chains have become very specialized and the inputs of the produced in china might be very specific so its not easy to to move them to vietnam or bangladesh or to other places and so there will be some disruption in value chains in china doesnt raise you but action very quickly very fast and what can firms a do as well they can in the future make sure that their Production Systems are more robust that theyre more diversified and i think this will this this crisis here will have some impact on how business is few Business Models in terms of theyre a Global Organization there are people that say that the chinese economy actually contract in the last quarter because of the cover in 1000 outbreak what would that actually mean for the wall the colony so if china really contracted in q one which is indeed a possibility there knocks off a full percent of Global Growth that is very serious and there will be felt across the world in particular in countries that supply raw material to china but also in places like europe that history substantial business interests in china either because turn in terms of keeping firms or producing there or because were exporting 101000000000 euros of exports yearly go to china alone from from germany so if growth stalls there will see a reduction in those export numbers and could this Virus Outbreak be a game changer when it comes to globalization. Yeah i think so i think so because what were learning now and what businesses learn now is how fresh out of the Coal Production system really is it reminds me of the Lehman Brothers call of into the 1008 where all of a sudden you know many people became aware that the Financial System is there for a child and since then we have seen a reorganization of businesses how they run their financial structures for example so that if they have to rely much less on bank credit for example as a consequence of that and the things something similar could materialize also of out of the corona crisis. President of the kill institute for the World Economy thank you for your insight thank you chris. It started with a wild idea and developed into one of the biggest chinese trade hobbs in europe 9012 a couple of entrepreneurs turned and abandoned army posts in the southwest of germany into a Business Center for Chinese Companies and the plan worked over the years more than 250. 00 offices open there but with the covert 1000 hour break in china turning into an International Crisis things have become much more quiet. Business developer Michelle Dietz is proud of what. The u. S. Army used to be stationed here but for several years Chinese Business people have been living working and doing business from the socalled world factory but these days its quieter than usual deets notices when walking through the Office Building some Business People have postponed their return to germany after the Chinese New Year or because of the 19 virus people here dont even want to talk about the epidemic theyre afraid that bad news might damage the project. Everyone is trying to keep a low profile. The virus is compounding an already depressing mood disputes concerning the mobile Network Supply a well way have already been straining seen oh german relations as well as every day business. Does make me with feeling the pressure here were noticing its difficult to get visas approvals in the embassies and were noticing its increasingly difficult to attract Chinese Investment in germany. And. Investors thats why the 3rd building hasnt been finished yet. But found jane ho isnt discouraged she continues to work discussing new projects with the Business Development agency the virus might even have a Positive Side effect chinese entrepreneurs are taking advantage of the forced. As an recently we have more. Client to consult and has settled on a new business here because before some of them they sing about we are doing business ok entirely and then we just care about the china market its ok. Its firmly believes in the world factory project thats why he sent a video message of solidarity to those affected in china. Hes looking forward to everyone coming back to help when the crisis is finally. And now to some of the other business stories making headlines the long serving c. E. O. Bob iger has stepped down i got lead disney in its takeover of 21st century fox and its recent launch of the companys own streaming service he hands the mantle to another long time Company Insider bought back European Union ministers have approved the framework for their post trade negotiations with the u. K. And stipulates that e. U. Standards should serve as the Reference Point for any future trade deal because she ations with the british whove agreed on their own and theyd argue to Begin Next Week because the government has begun selling used cars for u. S. Dollars the vehicles are available in a single outlet in havana only about one in 20 cubans owns a car in state run economy desperately needs cash due to the implosion of ally venezuelas economy and the tightening of u. S. Trade embargo. The Worlds Largest carmaker volkswagen says it is stepping up its green efforts by pledging to hire a climate campaigner c o have a decent told the Financial Times the activist would be able to scrutinise the companies and our middle policies the pledge comes as the fox by a group over 30000000000 euros into Battery Powered cars and aims to sell a 1000000 emissions free vehicles in the next 3 years activists have criticized the automaker for continuing to sell gas guzzling s. U. V. S and its no transition away from Combustion Engine production. For more lets bring in charles a delaney our fine as a correspondent in frankfort chelsea how necessary is it for fox wagon to hire somebody like that. Well i think there are a couple things here one the protests that have really rocked siemens and its an element in the donny coal mine i think that really woke up a lot of german corporate Business Leaders and it made them realize that they need to pick up make a much more aggressive strategy and not just. Look at things like climate neutrality goals and things like that so i think a lot of businesses are trying to make. Just be much more aggressive in terms of their environmental policy but for volkswagen in particular theyre still reeling from the the emissions emissions scandal so theyre really trying to put themselves forward as a leader in this but they also are dealing with new emission standards new environmental laws in the e. U. And so theres really a financial incentive for them also to be really pushing forward with a greener strategy here joseph frankfurt thank you. And finally a doomsday vault in the arctic has received 60000 new seed samples which are being stored there in case of global disaster amid mounting concern over Climate Change and food crop extinction groups are adding their seeds to the collection norways spitzbergen island the new season clude squash and corn from the Cherokee Nation the 1st native American Group to send crops to the vault the facility was launched in 2008 with the aim of safeguarding biodiversity that now has over a 1000000 varieties of seeds. And thats certainly good to know thanks watch. The tries it. Comes a point in the footsteps of the great. Insurance. Town to please her. Every time you want to thank you very much alive you sound a good guy just from germany. Where exactly. It was fun im learning a lot of our culture history and theyre. Dealing travel. Extremely worth a visit. Me ok. John. Breaux problems. But. Yeah this is a clip from the film never really sometimes always an american movie about a young 17 year old with wanted pregnancy and here it is wish you were in good. Hands. And welcome to arts and culture that movie is in competition at the Berlin Film Festival at the moment ill be talking to a film critic about it and a south korean movie also in a competition no not by south korean movie that won so many oscars but this very different minimalistic movie the woman who ran from veteran director so heres a scene so if you think you dont. Know. How to get that well. The good i thought you know has a listen to what. I can do without uprising music us to it its editing that are included in the. Ocean the one who is in the. Queue or or you were old. So you should know this. And joining me now is scott rocks brought down a half of the scots