Interest among reasonable people. Just as. In the conspiracy theories can provide comfort you dont like the reality you create another. Film about knowledge and belief trust and deception democracy of the gobi storage july 1st on g. W. There. Is the 2nd wave already crashing in fresh outbreaks of the corona virus in china and the us have markets on edge we go to new york for more. The us china trade dispute is alive and kicking it started exactly 2 years ago we talked to the w t o to find out if theres a winner yet. And European Countries are lifting their cross border lockdowns on monday germany lifted its travel ban on the e. U. Countries but will it be enough to save the passage tourists act as a Summer Travel season. Welcome to do the business i want to jones and berlin good to have you with us fears of a 2nd wave of covert 19 infections rocked the worlds markets today china reintroduced restrictions on some areas and undertook a massive test and Trace Initiative following a covert 19 outbreak linked to a whole. Sale food market in beijing and use added to an isa about higher coronavirus cases in the u. S. The governor of new york warning citizens about the dangers of losing sight of the virus. And fighting the coronavirus pandemic isnt the only problem for the Global Economy theres also the u. S. China trade war it started exactly 2 years ago and its still ongoing. There is a present in may sometimes seem like it but the u. S. China trade war its not a one man show sitting opposite donald trump is another president brimming with selfconfidence whos determined to make china the worlds economic powerhouse by 2025 but the usa remains in xi jinping sway the power struggle is sending shock waves around the world with Global Companies caught between the 2 battling giants is what c. E. O. Of Germanys Siemens joe kayser recently told t w so the United States is the number 2 everybody sort of in those well there will be number one at some point Everybody Knows that number well in the in the business segment should become number 2 whether i get. So fired and President Trump has chosen as his key weapon import tariffs hes at one point or another imposed charges on almost all goods from china and bilateral trade well almost 15 percent in 2019 january so progress with a phase one trade deal signed between beijing and washington but within weeks the arrival of coronavirus on the 2 president s doorsteps it focused minds elsewhere. Now earlier i spoke to case rock director of information and spokesman for the World Trade Organization and i asked him whether off the twee is there any closer to a winner in this trade conflict marco there are no winners in trade or we see losers really across the board whether its the American Consumer is 650. 00 more for goods and services as a result whether its german Car Companies that manufacture cars in South Carolina whether its hard farmers in china we have to pay more for soybeans all of the consumers have lost producers have lost weve seen supply chains disrupted and weve seen a great deal of. Of tremor go through the Global Trading system as a result of these 2 giants where enough now i must say that at this stage what we have found is that this trade war its been sued by a much larger problem weve seen countered with cove of course both with both theres a lot of Collateral Damage but just staying with the traits war for for another moment how has this dispute changed the standing of the worlds most powerful economies well i theyre both very powerful still and because theyre so big they their actions have ramifications really across the globe we have seen in some cases countries are actually gained because trade been diverted whether its vietnam or whether its mexico or even the e. U. Countries in Southeast Asia have again as well but i think when you when you enter into a conflict of this sort it really is in many ways greatest damage that you cause of course to yourself and of on top of all that you mention it already there is the pandemic as well it started in china and it certainly caused to havoc in the United States neither side can really afford a protracted trade war can they. You know as i said trade is collapsed and were looking at trade contract in these here anywhere between 13 and 32 percent youre looking at Economic Growth for the year that will be critics of a contraction of 5. 2 percent these are Great Depression type numbers and they have caused massive suffering already 200000000 jobs lost already now we hope we can have a rapid bounce back from this and one of the things thats going to be a key element in this is going to be trade policy fiscal and Monetary Policy obviously a key role play trade policy is going to be crucial as well all right and this is obviously where the w t o comes in then surely keep rocker director of the information next on the Relations Division on spokesman at the w t o thank you so much for your time. Thank you monica. I know a brief look at some other business stories making news. The e. U. Has imposed tariffs on chinese producers of glass fiber fabric in china and egypt brussels says they benefit from unfair subsidies including cheap loans and land and tax breaks that allow to them to sell it excessively low prices in europe. British all giant b. P. Is writing down its asset values to the tune of 17 and a half 1000000000. 00 the move came after it cut its Long Term Oil and gas price forecasts b. P. Says the covert 19. 00 crisis will reduce Long Term Energy demand and accelerate a shift away from fossil fuels towards renewables. After 3 months coded lock down nonessential retailers in britain were allowed to open for business again the government says stores must need covert 900 guidelines to keep shoppers and workers safe that means lining up to enter using hunts sanitizers and following a one way system. The coronavirus has finally ended germanys commitment to a balanced budget is taking on a record 218500000000. 00 euros debt to this year to combat the crisis germany has often come under criticism from its partners for its reluctance to borrow and spend. Spain now says it is quote very likely to join for other european governments in a deal to buy a covert 1000 vaccine from british drug maker astra zeneca a pharmaceutical group agreed to this weekend to supply 4 100000000. 00 doses of its vaccine which is still under development to the governments of france germany italy and the netherlands. Germanys contribution to the European Union budget could increase by more than 40 percent in the coming years as breaks it takes effect this week leaders will hold. Video talks to discuss the blocks Financial Framework for the next 7 years is likely to include an extra 13000000000. 00 euros annually from germany according to newspaper varied the country already pays more than 30000000000. 00 euros a year into the bloc a major reason for the increase is the budget hole left by the u. K. s departure from the e. U. Now tourism is among the sectors hardest hit by the covert pandemic but as europe eases its border lockdowns people are on the move again on monday the 1st plane loads of germans left for mediterranean sunshine but after months of Hotel Closures and travel restrictions here at home as well german Domestic Tourism is also researching just in time for the summer. A day trip to the older half a canal in brandenburg. Only a few guests taking the journey. Everyones wearing face masks the mind or family is among them. Michelle gave the tour to his father as a birthday present back in february. A month since the. Chose in june 12th for the trip and then a few weeks ago we found out it would still be going ahead with new regulations of course so we were really pleased about that but on top of it was sort of he said. Girl its tourist excursions were only recently given the green light to start up again after almost 3 months of no business normally the companys c. E. O. Has to rent additional buses to meet demand but since the end of february hes had to cancel tens of thousands of guests due to the Coronavirus Crisis the Family Business has lost almost 30000000 euros in sales. You know whole situation has been alarming every day has been a balancing act of can we survive will we make it or not our company hasnt received any subsidies except for reduced hours compensation for our staff. Myself to count alone and will have to pay it back. Im 16 now and i have to keep going for a bit longer. In the companys own travel agencies business is slowly starting to pick up even though not all of the 16 branches have reopened regular customers in particular are requesting trip consultations. Im on the safe side and i cant find the information i need on the internet travel agencies especially for lets ive always received good service on the current trend signals a comeback for travel agencies during the Coronavirus Crisis customers appreciated help when it came to organizing cancellations or rebooking though its not clear how many travel agencies will survive in germany. The entire Tourism Industry is waiting for Financial Aid from the german governments economic stimulus package and that hoping that tourists will still want to come to germany despite the Coronavirus Crisis. Thats your Business Update here randy wu for me and the team in berlin as always thanks for keeping us company. Very much despite the danger of coronavirus people who shop that way free markets in zimbabwe may be risking their lot on our alternative. To starbucks fresh fruit and vegetables right to your door is fishy going on. If you say. The comfort. Still. To come this time from the jewels of the bottom of the table a Lightning Strike against relegation in Alex Morgan James points in the minds and. And now probably say. 5 goals for home. Raymond convincing win in qatar for their dreaming of remaining in the move. To. World. War. 2 global corona crisis you can find more Information Online at v. W. Dot com and on t. W. Social media channels. Im not laughing at the germans because sometimes i am but most and nothing with the Common People germany thinks deep into the german culture yet you did see him take his grandma down east coast its all about who had enough time rachel join me to meet the japanese on the gulf coast. The digital revolution is transforming our lives from smartphones and apps to new ways all working well what about then barmaids can digitize ation help that to you we also look at the impact of 19th endemic as it shuts down much of the world welcome to our new edition of the who africa im now if i may well lagos