Transcripts For DW Business 20240704

The reporter, every weekend on d w, the interest, the global economy, our portfolio dw business be heres a closer look at the project. To analyze the flight for market dominance, get a step with v w business beyond the United States gets downgraded page, has loaded americas Credit Ratings from aaa to double a. Plus, well get to the bottom of why chinas big unrestricted exports of key metals needed for elect tronic swells. Why well ask if we can do without chinese, gallium and germanium and pacing, train a against train a, we meet the one of the workers taking boss and an apprentice challenge. State of your business on mobile. Its invalid. Welcome to the product ratings agency. Fitch has downgraded the United States credit rating, pointing to a political route of a raising the us debt. Saving switch says the issues a clouding the outlook for the 25. 00 trillion dollar Global Market for Us Government debt. Downgrade from triple a. To double a plus is the seconds time of the us rating has, havent been cut the last one by us and paid was also triggered by stand offs by the debt saving of a more. And thats, thats grosse, throughout financial corresponded in new york youngs course. The youngest grades have you on the program. I so fetch says that the us is governance has been to, to, or i think the past 2 decades now. What do they mean by that . Well, i mean, the timing is definitely a pretty on because i mean we had all this fighting and to about the increase of the debt ceiling on all we have a positive on the debt ceiling, but this is a weak pos. So that fits is now doing this move is at least the surprising. I mean that once i missed this functional is one claim that the Rating Agency is making. The other one is the debt load and that is still there. If you look at the huge debt that the us is running just in the past past year, the government was paying about 500000000000. 00 in interest. So those are pretty much the reasons why fits is doing this dont right. What is the Us Government have to say about this, particularly the treasury. What was the reaction been to the downright the yeah, the head of the treasury agenda down does not seem to be a to amused about this step, but shes claiming that actually fits is arguing with some old information. Pretty much saying that its the Old Administration that had to travel with them having a functional government in that now and everything is fine. Also, they increase the amounts of the debt ceiling and happened, or actually that we have a pulse or was the debt ceiling at least until january 2025. So, so the governments of the Current Administration specially jenna data does not seem to it seem to be a, to a police tend to amuse. There was this, that and this was the, thats what impacts if this going to be. I mean, is it going to effect americas ability to borrow and is, is going to help other countries develop well, i mean, what is very important for every country and itd be economy on the planet. Its a trust them. And that also is to find the biggest economy on the planet. What still is the United States and the last time that and, and Rating Agency lower the rating was in 2011 also because then we had cited sites about the increase of the debt ceiling effect. Vendor was standard and poors, lowering the rating back then that did cost some termites on the financial markets. But eventually the world kept giving money to the United States, meaning buying the depth of the us. And i would zip so surprised if it would be any different this time around. But clearly we, the more we hear of those downgrades, the more it actually puts pressure on a trust. And thats never a positive. And we already see that to you in the early when say its writing that we do is c as on price, or at least on financial markets, were not going to joining us on the new york stock exchange. Thank you very much. I that was take a look at some of the other level business stories that are making the news from says bands, the Automatic Printing of receipts to protect the environment. And if the government says over 30000000000. 00 receipts to print it every year that that equates to cutting down 2500000. 00 trees. Finally, but consumer advocates say receipts help, prevent shop is from being ripped off the federation of gem and industries and says the country is on a slippery slope. Economically, its urging the government to take action to avoid economic struggles and belong to the association is calling for lower taxes and energy prices. As well as a speedy Digital Transformation of the country and taurus to where evacuated from the greek on the roads will be allowed to spend a week on a holiday for free in spring or some of next year, according to degree Prime Minister and to view with the ice with evasive in the u. K. Custom, its the talk is didnt provide information on exactly where the tourist could apply for the offer that a china has imposed new export controls on to key role material is used in micro chips is raising concerns about the label supplies of gallium and to amount am she can see here, now these are very important match what was that needed not only to produce mobile phones, but also the side of the panel is electric, cars and satellites. China is a rat elements, superpower, accounting for 95 percent of gallium production, up to 68 percent of germanium output, worldwide ratings, decision to restrict exports. It appears to be part of a tit for tat between the us china. Well, thats good morning. This format correspond to newton lee whos in taipei for as you tell me, what exactly is china starting to restrict to these expos of gallium and germanium for it is widely seen as an active retaliation against the u. S. And its a allies because the position came from aging, which was announced in july, came as the us announced that it would require a license, a for companies to explored. Chipped products to china and following the us action. Japan and the netherlands also announced that they would restrict the chips making equipment to china. So it is widely seen as an act for china to strike back. So, but you know, like the chinese golf and we didnt admit that. So china, as a social kind of official said, that is a local action to protect its National Interest and is not targeting any certain country. I suppose was k is how effective this can be as retaliation. I mean, how well can the rest of the modem, particularly the western world cope without these metals from china, where the china is the biggest player in, in the supply chain of gallium and under maintenance, if reduced as 80 percent of the wells, gallium and 60 percent of the domain, so these 2 metals are actually artfully chosen by china to hurt the west. But some aspergers are saying that the impact is actually not fatal, is simply costs inconvenience and difficulty because of these live roll materials are not completely replaceable. Its just that they, like the price from the Chinese Market is relatively lowered. And also one researcher in taiwan is saying that compare with the curb to us inc posed to china. Actually the come, the competition is obviously not on the same level. We hear a lot about western reliance on china if the parents as well as the gallium and germanium. So what are western governments, as he doing to ensure that they continue to have reliable supplies . If the materials they need from china as well, we have not heard a lot from the you about the risk. So the member stating that you rope and union are trying to, you know, diversify the supply chains. And i think in july, they are always asking the local producers to try to produce a galleon and remain in, in order to, you know, seek alternatives from the Chinese Market. So the u. S. Is also trying to increase the domestic money and the processing from the Critical Materials to, you know, produce these 2 kinds of metals. So if they are finding a way to, you know, get these alternatives from other eliza as well. Be, for example, japan has also produces really high quality gallium. Oh, so the amount is not as much as china does. So its still a long way to go in western countries are still trying to find a way to counter such, you know, retaliation from china. Okay. You can lee and type pay for things that break method down for us. Now getting into the well, the work can itself be a competitive business. Apprenticeships games can often be massively over subscribes and thats like one. But let me from i started putting potential training is through the paces to which of them down to just to look issue as these know who really wants to become a carpenter after working many part time jobs, the 22 year old knew that carpentry was the profession for him, up to spending a year and my day or a portugal thoughts on you mentioned people were so free there and full of passion and wanting to make things and help themselves. And that is encouraged me to be here today. So im with discharge, and so nicholas aguilar, quit his economic studies because he would rather work with his hands ideally high up. So he wants to become a roofer and also w freedom. The release from below and a bit more clarity is in that cloud. Its the yearly apprentice thailand, at the berlin base firm fee less. Now, 12 candidates are here and the Company Wants to hire half of them at different stations, including to once was ordering, unloading a transporter. Applicants are tested in 10 minute intervals. They have to demonstrate skills and team spirit. Nicholas tries to build a real structure with his partner. Its a job that can be done alone. So teamwork as important. As were talking about and tell you that, id say both candidates have what it takes to make it in the industry. And being able to work at high heights is something as this needs to prove, he can do of a good example excited, but in good spirits. Hopefully everything is secured up because it showed up like a nicholas tries, his hand welding foils, which you would have to attach to other roofer is miss. Its not particularly easy as you can see. Its also quite hot, but it is interesting. Ive never done anything like this before. I was little for i dont even last 30 meters high. And as this didnt even hold on like the other candidates have this, he was excellent. The decision is imminent. In this meeting stuff or discussing who they wanted outside. Once the decisions are made as it finds out, is made it through and so has nicholas who can now start his training of the roof or the can both where the staff blue t shirt off. In 1st of course, the tension is somewhat reduced and the anticipation is definitely there to finally get started. Ok for me. So for me its a great alternative. So i finally quit my studies also to come in. And you will print and says, will now have to complete a 2 week internship before signing contracts, to ensure they know what theyre getting themselves into. And good luck to that. Thats all for me on the business aim hand balance. Im all head office at the w dot com slash business, or close the data we use the future channel and well see where the clinic on rail a train of hope for almost 30 years. This mobile hospital has traveled up and down south africa delivering medical care to rural areas that he did most of the future in the machines of yesterday. And the German Economy is changing the new tech Energy Efficient smart factories and resource reprocessing. As part of a circular economy is the answer to the climate and energy crisis. Made in germany. In 60 minutes on dw, these places in europe are smash the record. Step into a little bit venture. Its the treasure map for modern globetrotters. Discover some of us record breaking size on drawbacks youtube and now also we book form the parties, the stage of the label house in south africa, trains and boats. Those with no access to health in some parts of mexico. Soft drinks flow more freely than horses