Heroes in asia. Ready to take on this challenge with their unique idea to look at those 2 from them and make them one solution for. The new season funders tally up starts june 13th on t. W. Chinas annual Congress Gets the usual broke prognosis perhaps because times are tough more chinese are out of work out looking for help. Also on the show argentina cant pay its bills when its at its defaults on its sovereign debt for the night time not just because of the pandemic. And will visit uganda where the government is floating a new pandemic roles that could put secondhand clothing sellers out of business. This is your business report. Susan berlin its good to have you with us beijing kicked off its annual National Peoples congress on friday the Rubber Stamp Parliament that was delayed this year to the pandemic a Party Members didnt waste time taking up a draft law to intervene directly in hong kong one thing they didnt do make a growth prognosis for next year perhaps because the economy is struggling. Highrise est on beijings outskirts pe chief lives in the top floor he studied english had good jobs but at the beginning of the year he quits to start a renovation business with a friend but the outbreak devastated the plans for months hes been applying for work without success. Everyones wondering when this difficult life will end when will i get my old life back when can i go out and work hard again earn money break free from this crisis some my friends who still have jobs have seen that salaries cut by half. Chinas economic crisis has also affected millions of Migrant Workers these men are waiting for work in factories on Building Sites but hardly anyone comes by to pick up these day laborers since coded 1000 hit everything is harder. There are Job Opportunities now before there was a lot of work but thats all over now ive been waiting here for days soon i wont have any savings left. One when long shows us his former customers restaurants which he delivered drinks to until the pandemic brought the gastronomy sector to a halt many businesses havent survived the crisis. Now he drives a taxi his monthly earnings are a 10th of what they used to be chinas economy is navigating through a deep crisis experts warn of a 10 percent rise in unemployment this year but some say the figure will be closer to 20 percent. Are Living Conditions were continuously improving for years our earnings were growing the government made it possible to have a better life now the coronavirus has wronged all that and the economy to. Pay cheese generation only knew. And there is an economic miracle the communist leadership his own ways promised a rise in Living Standards for everybody but the pandemic has made that more difficult than ever. Earlier we spoke with Business Reporter Clifford Kuhn asking him why china has ditched its annual growth forecast for the 1st time in decades weve never had so many variables out there youve got the pandemic youve got uncertainties about trade china is in to some extent further ahead of coming out of the pandemic than other countries but at the same time its very reliant on other countries for its exports and for International Trade so there just isnt enough certainty out there i think for china to be able to say with authority that this is what the growth forecast is going to be covered in their business now back to the draft law in hong kong the u. S. Warning china on friday that its plans to tighten control could endanger Hong Kong Special trade status with the us ending the status would have far reaching consequences for businesses on both sides of the pacific it ensures lower tariff rates and visa free travel the u. S. Invested 82500000000. 00 in hong kong and 2018 and more than 85000. 00 americans live in the city. And now im joined by our financial correspondent in new york. Yes revoking this special status or at least the specter of doing that has been called the Nuclear Option why is that. And this special status is not just important for u. S. Businesses but make sure he also for other foreign entities especially if you look at the legal system in hong kong that basically is similar to the british one so a lot of companies for instance and investors they could not do business. Directly with the Mainland China so thats why hong kong was always important not just go far enough but actually for maine and china as well and then if you look at hong kong the financial the capital. Restrictions were the laws were less tights then than in Mainland China and then also texas were much lower in hong kong so so therefore crucial for foreigners but also for Mainland China as well doing business. Aside from the trade status could this new chinese plan to directly intervene in hong kong could that scare off investment in sydney. It clearly could and there are different we ports if weve already seen some outflows for example to sing a pretty poor of us shouldnt forget that hong kong already went into recession even before the coronavirus started specially overs of the mess of protests that weve seen in the past the here and that all jill has actually shot some investors some Business People from abroad the way its also been more difficult for hong kong to attract talent so as i said to him. Was the protest of positive here and now the virus actually has worsened the situation so its actually quite likely if they lose the status that some investors would just not come to hong kong but in general i have the feeling that both china and the u. S. In general have interests to use hong kong as a Trading Platform in the future. Of their force in new york thank you. A Facebook Says it will allow many of its employees to work permanently from home c. E. O. Mark zuckerberg telling employees during a live stream meeting that as much as half of the companys 48000 staff could work from home within a decade announcement comes as Tech Companies around the world grapple with whether to fix remote work as a permanent option many employees like it but some managers fear that it could disrupt innovation. Or latin america where argentina has missed a series of 500000000. 00 bond Interest Payments on friday putting it in default for the night time in the countrys history behind their crisis is an economy that was misfiring before the pandemic now the country is asking for time. In the midst of a recession south america 2nd largest economy now has to tackle the effects of the corona Virus Outbreak as well the pandemic has left many people without work and poverty is on the rise. The International Monetary fund expects the economy to contract by almost 6 percent this year. The government has asked creditors to suspend all bond payments for 3 years and reduce interest by 62 percent president alberto friend and does says his country needs time to reactivate the economy which has been in recession for 2 years. We will not subject anjan teena to new commitments that we cannot fulfill i want the world to see us as an honorable country that fulfills its commitments. Despite being one of the worlds leading food exporters argentina has defaulted on its debt 8 times before the last time in 2001 debt restructuring would free up resources to deal with the pandemic and limit its impact without a deal the Current Crisis is certain to deepen triggering even more job losses and poverty. Countries around the world are facing a difficult balancing act as they emerge from lock down on the one hand they want to ensure Public Safety on the other they need to get their economies going again and uganda clothes sellers are now worried that they have come out on the wrong side of that equation. Marvins by the days concerned. He has learned that the government could ban being petition of secondhand clothes and shoes in the fight against 19 i feel so blunt thats my trade you know someone coming into your trade and saying that im going to ban it yet the situation is not on our side right now we spent almost everything we had you going to no sir it is feared that imported used clothes could be contaminated with the corona virus when they issued a statement to ban there and petition traders were quick to oppose the move. The government has now records this statement. By the economists are warning the government against panic decisions they instead add uganda to move strategically especially in supporting the economy. And in a transparent manner it is important that we have. And regions that support. That it will remember now with this shrinking economy projection from 6 percent economy growth to about it point 3 percent. We have decided it. About 2600000. 00 ugandans into the fungus of poverty uganda has received 491000000. 00 from the i mean if as part of the covered 19 emergency assistance. At the same time the ugandan government is asking for detroit leaf from its elaine does such as china and wired bank and the european union. But as the pandemic evolves with extended Lockdown People at home. Mean uncertain of the future for their businesses. And thats it for me and the Business Team here in berlin you can of course find out more about these and other business stories online at www dot com us you can also check us out on facebook and twitter thanks for joining us tonight and heres a look at markets. Makes a living be sure the well being of their progeny. Communicate with others of their. Pain and are neither human nor animal. Trainers. Join scientists on an exciting expedition into the. Out of the comfort zone. Into the crisis zone theater director doesnt shy away from human suffering he demands and in. Credible amount from both his actors audiences artist activist prices for your milorad on meet the artists are 21. 00. In 30 minutes on w. 7 into a symphony. Blues week then beethovens Pastoral Symphony is the foundation. Of an International Art project. Composing their understanding of nature. To mark the 252 the 1st 3 of the composers berthelot sharing Program Advice of not you know use good. Beethoven worldwide. History project starts june 4th on d. W. Mayflies live for about a day. A human being might live 1st century but tree can survive for several 1000 years. The longest living life on earth the trees and tichina that these would be perennials actually communicate with each other. We visit one of europes longest touched primary forests. Welcome to tomorrow today this time show on t w
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