With its trading partners around the globe including europe. Oh well come to made to the us election a vote for free trade on thats our topic today do you remember what the world felt like 4 years ago in autumn 2016 europe had just started to come to terms with britains brics referendum yes 4 years ago and the bookmark makers they got it all wrong back then and they also got it wrong with predicting the outcome of the us election Hillary Clinton did not become the president of the United States well i dont know if the polls are right this year but i do know that for the Global Economy right now a lot is at stake. The u. S. Election is just days away the outcome will Impact Global trade. The question is how a quarter of all jobs in germany depend on export industries. Cannot. Overstate the importance of the transatlantic relationship its really without alternative. Zana borg an inch tall being the varia makes Material Handlers and cranes annual sales were 420000000 euro news in 2018. Doesnt it all this is a telescopic crawl a crane we sell cranes like this to the United States 2 north america is now our 2nd largest market off to Germany Europe and eastern europe. The Company Relies on its sales to the u. S. But says c. E. O. At a center the u. S. Also relies on his companys products. For example cranes to load exports and unload imports. Oh weve been and continue to be an essential business in america if products want operational entire factories could grind to a halt. Gemini in the us have long been important trading partners but tensions have been rising in recent years rivals and boeing accuse each other of receiving illegal state subsidies that has been mounting criticism of german car exposed to the u. S. E. U. Countries one Big Tech Companies to pay more tax and most digital giants are american. Frank supposed to laurie heads the German Division of u. B. S. He also heads the American Chamber of commerce in germany in that role he seeks to stick clear political fights and smee that he ruffled feathers. You know if you get outside of washington d. C. And you go out where you know most people live and work. Business in the u. S. In business in germany in europe are very interested in each others markets our job is to ignore politics as much as we can were not political. Our job is to find ways for our members to successfully pursue their Business Activities and hopefully expand grow them create jobs and encourage trade here in the union its also protrade that the Competition Commission says there is a plain meaning to regulate the u. S. Digital giants a proper european approach would be to say youre more than welcome to be successful but the thing is with success comes responsibility and this is the face that were in now to say well you have to recognize that you have powers beyond anyone else and with that comes a responsibility tariffs the one way to exert pressure by making impulse more expensive the u. S. Tariffs on steel wine and jam. The e. U. On corn cranes and jeans. Tariffs and our view are just not helpful and they dont really achieve what you want them to achieve theres one thing that they always achieve and that is higher prices for the consumer so damage is done to ones own country in that sense what disposal are he think of the positions on trade of the 2 candidates for the u. S. Presidency. Between President Trump and candidate by the. Its a little hard to tell i mean both of them have made statements that we find very. Wrong quite frankly. Neither has come out with a Firm Commitment to the importance of the transatlantic relationship and the value of trade and so i think we need to get away a little bit from the emotions that are packed into the word globalization and really recognize how many jobs are created how many families are supported how much tax revenues generated and then i think anyone really looking at this calmly would say ok lets get out and do everything we can for this relationship the trade war between the u. S. And china is also having an impact on europe its caused shifts and Currency Exchange rates and made european exports more expensive an asia so charmed by it and does the german entrepreneur at least an emboldened have a preference. By. Whether its trump or biden only government we have to deal with politicians of all stripes. Economy creates its own laws. Its the economy that makes the world time. Of dos was that there is. Despite all the tariffs and arguments the United States and europe still do billions in bilateral trade every year. After 4 years in Office Everyone in the world has his or her own view off donald trump some think hes doing great they like to style of us war hes dangerous and point to several cases of misconduct perhaps even criminal misconduct or miss much debate to ties to the kremlin to substantial funding from germanys biggest bank did all the us asked him how to score top with u. S. Journalist david who believes that vast loans from Deutsche Bank and able to trump to appeal rich and successful which ultimately helped him win the presidency. Donald trump and daughter back at dicey relationship. And one that financial journalist david enrich has described in detail in his recent book dark tower. The bank has lent him over 2000000000. 00 over the past 20 years money and rich sense that allowed donald trump to maintain his image as a successful real estate tycoon an image that paved his way to the white house. Lets dive right into it how much money to Donald Trump Bank as far as we know he currently owes Deutsche Bank about 300000000. 00 and then on top of that 300000000. 00 you have the cushion or family which is obviously the extended family of the trumps now thanks to the marriage of jared and ivanka and they have borrowed hundreds of millions of dollars more from Deutsche Bank so all told there are certainly more than half a 1000000000. 00 in outstanding debt from the questioners and the trumps to do it about you right in your book that without a Bank Donald Trump would never have become president how in. Horton was the money that Deutsche Bank lent him for him becoming president i think it was indispensable trump his entire basis for running for president and i think being elected president in 2016 was a he was a very successful businessman and the more evidence that becomes public and the journalists gather the more we see that that really was a mirage he was not a successful businessman he was a money losing businessman and he has a very well established track record of defaulting on loans having his businesses declare bankruptcy and violating contracts what would it mean if the president of the United States defaulted on half a 1000000000. 00 of loans he personally guaranteed the overwhelming majority of those loans and so that means that the bank has a right to go for what money is in his bank account he has millions of dollars in various Bank Accounts in cash and in stocks and bonds the bank and go after that they can go after trump tower they can go after mara lago this is go after his plane and would they do that to the president of the United States take away basically all his belongings i dont know what they might do what i can tell you definitively is that since the morning of november 9th 2016 when donald trump had been elected the next president of the United States diligent Bank Executives in frankfurt in london and new york have been freaking out about this this scenario in trying to figure out whether theres a way to amend the wording of the contract so that trump is no longer personally guaranteeing them and its been very clear to them for almost 4 years now that they have a very serious problem on their hands there are those who say that maybe lending money to dollars from wasnt such a big risk for the chip bank after all because those loans might have been guaranteed by russian individuals or entities is there any evidence that you found that would prove that i have not found any evidence that russia or russian banks are. Russian individuals in any way provided a guarantee or any financial backing to trump through Deutsche Bank my hunch is that this is a Conspiracy Theory what is too though and you write that in your book is that darts a bank has helped the cushion a family with funneling their money through russia over to russia so what exactly happened there there was money moving out of cushion or accounts being wired to russian individuals why would the cushion company send money to russian individuals do you think that had anything to do with russia meddling in the 2016 election is that a pay off i dont know i doubt it but i dont know its a mystery if we were ever to really get a clear on veyron edge view of what had actually been going on inside or its a bank and going on inside donald trump accounts at Deutsche Bank and there would be still quite a few surprises in there. Now it would also come as a surprise ill be a welcome one if u. S. Policymakers could finally agree on a much needed fiscal stimulus plan to help the basket us economy deal with the fallout from the coronavirus pandemic unemployment reached record highs over the summer now for many this is not of the fust economic challenge some i 10 around for example have long swapped a permanent address to live in mobile homes and travel from job to job our reporter on of us went to kentucky to find out more. The recreational vehicle the r. V. The symbol of freedom. Homeless wherever you take it and were overwork may take you. I mean more things can talk you know which is not exactly known as a Tourist Destination but home to where homes of online retailer amazon and that attracts an increasing number of employees who come to find work but choose to live in their camper vans all year round. The campground near the yama zone where house is home to a round it doesnt work campers. Its 2 pm time to get up for Robert Barker he works the night shift good morning. Good morning good morning robert are you doing good how was your shift it was great ok yeah easy money man you know basically robert you have your whole life inside that van yeah ive been living in my van for 6 years now. Working Seasonal Work for amazon and ive done some also ive worked a job in alaska salmon carry of work to be harvest. By the amazon has been really good to me and its really easy money and allows me the freedom to do what i want to. Like many were campers Robert Barker lives a modest life with few frills his kitchen an outdoor microwave and a picnic table. Kind of growing time here i may think im. Even curry right robards lifestyle saves him 2000. 00 a month he says money he uses later to travel robert is 46. 00 he has no partner no children and very few expenses. Amazon paces campsite his Health Insurance and 15. 00 an hour when he works managing customer returns its a temporary contract for a couple of months. The key to doing it right is you cant have. 400. 00 car payment enter or you know. Debt. Im debt free. And. I have like 30. 00 in bills im on and thats how are they able to do it. 5 30 in the evening for robert its time to go to work. Amazon refuses to give me permission to film but the online trader is actively seeking work campers in 26 campgrounds across the u. S. More Financial Security but you have to hit the road to get it perhaps not everyones dream but it seems to work for some. In a lot of criticism of on amazon and concern about the growing online tree industry with meaningful work environments of the United States but one thing seems to be clear that all the work campers in kentucky up quite happy with the lifestyle they chose. From happy campus in the u. S. To aid. Political power game between the u. S. Russia and germany over a gas pipeline relations between the sas and support in north east germany were excellent until 3 republican senators threatened it with crushing legal and economic sanctions if it continues to provide services to north stream 2 now the contentious pipeline which is to transport gas from russia to germany has long anger to donald trump who druther sell us gas to europe. This is a small harbor town on the Baltic Island of ruin. A lot of tourists pass through but otherwise theres not much going on here. What have we done to make u. S. Senators think that they have to threaten us in this way to solve tbone. It was quite a surprise when sasnett suddenly became the focus of an International Political fight the latest iteration of a longstanding conflict the mash owes us a letter to the company that manages the potency of snits which is majority owned by the municipality it was written by 3 republican u. S. Senate is an august threatening crushing legal and economic sanctions. Bust the letter is a threat. With a state that they dont want nord stream to to be completed by ford thats the main point on time the threat is directed at our port because we have a plant there that used to case the pipes for nordstrom to and because ships docked and a provision there. And they say we should stop doing that. For all schools to watch and i find this utterly shameless because for the on for for now all right the fight is about the north stream to pipeline to deliver natural gas from russia to germany the segments of piping piled up at the port were meant for the final stretch to the german baltic coast work stopped last year after the contractor for the pipe playing ships suspended operations under threat of u. S. Sanctions. In 2005 the then chancellor Gerhard Schroeder and russian president Vladimir Putin signed the deal to build a system. Natural Gas Pipelines across the baltic the original north stream went into operation in 2011. It starts in the russian port city of an ensign look mean a crisis found in germany. Stream too has also been laid except for the last 160 kilometers to germany. Washington is dead set against it claiming it will make europe too dependent on russian gas and exposed to leverage by Vladimir Putins old Europe Germany should not put up with us having 3rd parties tell us what we may do and what we may not to what our Energy Policy should look like and what projects we may work on here in sas not supplied. Its nothing new that germany is getting its gas from russia the 1st shipments of natural gas from the then soviet union reached west germany in 1973 during the oil crisis that also angered the us but west germany continued to buy more and more gas from the communist soviet union and unify germany went on to do the same with russia also under putins leadership even when the 2 countries had serious disagreements at the political level. Sanctions are a means to apply economic pain in order for a government to get its way. By providing Goods Services and support for north stream to the port of sasnett has created jobs and peace to the economy of the region. Local firms are now very nervous but. The tide lifts and for all the Companies Involved in the project would be under threat from these extra territorial sanctions side of. Going to face major problems of Economic Policy and economic measures are deployed to pursue geopolitical interests and Small Companies are exposed to threats. Here on the coast we deal with a lot of ships from all over the world we want to pursue International Trade among. And do business with each and every country of. Free trade policies of huge importance for coastal economies like. This. 350. 00 companies could be hit by the u. S. Sanctions from small engineering outfits to large ship chandlers. Thats why we need trade deals all over the world whats going on here is astounding were suddenly mises right and that scares us here in this corner of germany the people we talked to his us lets just want to be left in peace. We want to not no comment there were 10 here before you i dont feel like. Even beyond the north stream to project officials herons are concerned that the Ports International reputation could be in jeopardy. And in another example for us trade relations goods made it hong kong for export to the United States will need to be labeled as made in china after november the knights of financial hoppers again at the forefront of the escalating conflict between 2 superpowers what does that mean to local manufacturers will struggle to preserve their own identities. Kong reports from hong kong. It takes a 1000 steps to assemble hundreds of tiny components thats how a filigree. Is made william shome founded his own brand a decade ago hong kong is the birthplace of these high end timepieces its where theyre designed and dissembled because we want to show our all. The label had a bad inside the back of the watch but the clock is ticking in november the made in hong kong label will be replaced by made in china the u. S. Has revoked Hong Kong Special trading status. Because in france for us just because of the work and all that we try to invest for. Materials inside to show the specific where you are bred and also for the back of the 4 policy changes that i did to double or triple the whole cost was always of a lot higher hung calling is a w t o member as a separate customs territory then you labeling policy came in with the intensifying u. S. China conflict its one of a series of American Council measures against the political upheaval in the Financial Hub as the citys 2nd largest trading partner the us is ending the decades long preferential treatment for hong kong because of its eroding autonomy following chinas imposition of the sweeping National Security law veteran manufacturer simon one sells instant milk to the u. S. His product is a popular among the nostalgic communities who missed the taste of hong kong signature beverage. May you know are. Famous for or reputed for years of branding for the quarter and. This group owes more competitive. Over aga countries but much like hong kong. Its now a bittersweet business the latest policy is another reason for simon and many of those to decouple from the u. S. Markets. Being caught in the hurricane would be getting worse and worse what i say is we are exploring our markets to other countries we are also souls in products from europe from other countries who set off from the states. And we dont want to. Have to redesign our baggage and we may have to. Work on our. Strategy so as to strain for our brand as a whole product. Nastia hong kong shipment to the us total 39000000000. 00 u. S. Dollars but almost 80 percent was really exports from Mainland China thats why the new labeling rule will also hit China Hong Kong also routines have vowed to refer the issue to the w t o. Business people fear this could be the 1st step for the u. S. Or even its allies to abolish hong kongs benefits that the rest of china hasnt enjoyed and so undermine its distinctive competitiveness william shome sells his tobie on watches to 15 countries the us market used to be a main target of his lucrative business but now he plans to relocate his investment and shut down his new york office by the end of this year as a bread we have a very specific character hong kong has the merchant where the asset is of the cultural ah the historic well you have lobster were all of the off it because therefore theres a thing theres also an opportunity so we should seek for over 30 rather than scale for danger. Changing the type of origin could mean losing a quality trademark. And possibly bring a higher tariff. But for the manufacturers on the ground its not only about money but also about hong kongs unique but fading identity. It matters who sits in the white house for the United States and the rest of the world and thats why we will all watch next weeks president ial election with bated breath while hoping for the best thats all for this edition of made for me in the team thanks for watching. The traders sit in fancy offices. For decades they systematically deceived the german state did nobody notice. Comics is the perfect crime one innocent in pinstripes until one person started on covering it journalists on bush meaning in dealing come a 1000000000 euro tax scandal. In 15 minutes on d w. What secrets lie behind small. Discover new adventures in 360 degree. And explore fascinating World Heritage sites. D w World Heritage 316 get them know. Hijacking the news. Where i go from the news is being hijacked journalism itself has become a scripted reality show its not just good versus evil us versus them its black and white. In countries like russia china Church People are told is that something and if youre a journalist there and you try to get beyond that you are facing scare tactics intimidation. And i wonder is that where were headed as well. My responsibility as a journalist is to give me on the smoke and mirrors its not just about me prayer for balance or being neutral its about being truthful. Johnny was cordoned off and i work in you know. Frank food. International game. Equate to the best kind of self road and rail. Located in the heart of europe connected to the whole world. Experienced outstanding shopping and dining all 1st and try our services. Be our guest Frankfurt Airport city managed by from. The data we near the line from far less backlash across the muslim world french president and running amok all faces a growing anger for his comments about islam more muslim countries join the boycott of french products out the law call called a legend in crisis and of france france a secular body also coming up to german chancellor Angela Merkel to set up the post strength to move on to slow the surge of coronavirus with daily classes expected to hit 20000 by the end of the week
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