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Transcripts For DW Business 20190507

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Win a sixth term as governing party of south africa on wednesday that despite the country struggling economy and growing complaints of inequality president Cyril Ramaphosa who is expected to stay in office has promised to spark growth and decisively deal with the countrys twenty seven percent Unemployment Rate a statistic that translates to more than half of the countrys youth being out of work. The African National congress is trying to secure a sixth consecutive term in africas most developed economy the candidate in the may eighth election Cyril Ramaphosa has promised a new dawn after a decade of decline which has seen south africa regress so fast that only countries at war have fared worse. We are way into your we are. For first time voters like boy to me law. Who holds a degree in hydrology the prospects look bleak the country has just emerged from a recession and growth is only expected at one point five percent in twenty nineteen. Good to eat at last year and i have been unemployed for like five months now and why would i be voting this year im still kind of but decided that. The stifling economic climate is strangling the private sector and many businesses like this Security Company staring down the threat of closure or bankruptcy. Which you dont want to be so basically everybodys just turning over twenty three times the first minute it really isnt in context coming through the ones that we do go to and we dont we just dont get so in space in the last twelve months weve gone from having three percent down to considering and keeping this one up and analysts argue a turnaround wont be easy in an economy with more citizens on state welfare than text payers. Over the past ten years the government under in the c. N. N. In the name of in the sea has been focused not on growing the economy paying attention to Economic Issues all the nuking of the state starting from the president doesnt goods on like the foo stuff. From ninety ninety four to two thousand and seven i think god. Is adamant that his lofty talk of the one hundred billion dollars in Foreign Direct Investment over the next five years will set the country on a new trajectory. Beyond these elections the level of confidence in the Business Community will go high and they are telling me that as well so investing a lot and what happens after the elections i do one thing elections have happened they caught on they were take all will be able to walk in life more investment into our country your way. But it will be a challenge even for the man Nelson Mandela had hoped would succeed him. And lets talk about this more im joined now in the studio by unit health none of the German African Business Association you know if syria foes a says that investors should trust him to turn around south africas economy what are investors saying and this is a saying that a person alone is not enough to have to trust the whole country i believe and that makes it a little shaky at the time being there was a big Investment Conference where they actually raised like another eighteen billion euros so one save. For the next five years which is quite good but what is the next step whats to come afterwards we need a lot of trust we need a lot of the policy and the party in the outcome of these elections weve seen in the past year that emerging economies like south africa like argentina like turkey have been hit hard because of Global Investor sentiment how much of whats happening in south africa is due to that and how much is because of their own problems that theyve created. Well i think im not an expert on argentina but i think in general its the countries that self that make things difficult the policies that are rising are very difficult corruption is a big issue dependency on single industries make people a bit wary of the situation on the ground and especially corruption is a big thing and zuma has been not doing a great favor to his country at the time being or at his time and now ramaphosa has to see what he makes out if it but hes been taking good steps he has been putting new people in high positions of important agencies like the south african revenue and services and national persecution to have a serious agency so thats a good step because it shows that he is willing to change things and also to get rid of some people you mention there jacob zuma his predecessor ramaphosa his predecessor also a member of the African National congress this partys been in power for twenty five years the economy is going down right now why does it keep being elected back into power first a full democratic elections have it that we wait for the results on wednesday or attempt days after so even if theres a widespread on the results on the expected results i think theres little alternative the a. N. C. Still is the Freedom Party the party of little race and. The opposition has little alternative to offer what you have the. Democratic alliance is trying to get a new image that is still the party of the whites. The Economic Freedom fighters to the left wing to radical to populist so there are some not so not a lot to choose from and that makes it difficult and that will also support and see. Alternatives you dont know if one from the German African Business Association thank you so much for joining us thank you. Markets in asia have been rising on news that chinese trade negotiators will travel to washington this week despite a new threat from President Donald Trump to hike tariffs on chinese goods u. S. Trade representative robert light hisor said china had reneged on earlier commitments something he called unacceptable the treasury secretary steve nugent said new information had emerged over the weekend and that the entire u. S. Trade team had urged trump to apply the new tariffs if a deal is not reached by friday. And our financial correspondent conrad boos and joins us now from frankfurt conrad speaking of trade germanys leader and america was in hamburg yesterday to make a case for free trade maybe in response to some whats going on there between us and china what he tell us. Make of gave her statement at the famous hamburg port one of germanys doles to the way the perfect spot to illustrate how Important International trade is for germany merkel said we need to have a global conversation about how we can foster a fair and balanced trade conditions and this came one day ahead of todays visit of my pump aoe in berlin the u. S. Secretary of state and of course medical hell once to appeal to the americans she wants to remind them that you know the uni lateral approach is not the way to go that the americans should together with the germans and the europeans find Common Ground in terms of trade policies and conrad stay with me as we look at Something Else another report in this case the value of the turkish lira tumbling for the First Time Since october one u. S. Dollar is worth more than six lira and investors feel increasingly unsettled by the domestic political situation and turkey is going through an economic crisis prices there are rising and the general public is increasingly critical of president everyone was now ordered a rerun of a municipal election which is a k. Party was defeated. Back to conrad now briefly how bad are things looking for the lira. You know that even in turkey is nearly twenty percent and the economy is expected to shrink in turkey this year by at least one percent thats according to the Ratings Agency fitch which just updated its rating it saying that investing in the turkish lira is highly speculative and the outlook is negative and that means that it should be expected that the you know turkish currency devaluates even more and that makes life for people in turkey for business to business there harder and harder because many of the things that turkey needs must be imported turkish consumers turkish businesses have to pay for stuff with euros with u. S. Dollars and that with a currency that you know develop weights more and more the Political Uncertainty of course aggravates the situation and the government in sending that signal that its more interested in consolidating its power than of taking care of the livelihoods of you know the turkish people. In their force in frankfurt thank you conor. He was a popcorn vendor who dreamed of building a plane its a bizarre and fantastic tale that really happened in pakistan a country where millions of impoverished residents have no access to a formal education but that couldnt stop one man from taking wing check it out. It took years and ingenuity for mohammed five has to put together his plane the engine comes from an old stone cutting machine the wheels from a rickshaw and the wings are made of burlap but the most important component was hard work and. I used to work as a Security Guard i would stay up all night then come home and sleep for a short while then i would spend some time on the plane and at the same time id sell popcorn to i wanted to save as much money as possible and as much as i could so that i could build this. He also sold a small piece of land and took on micro credits into the scrape together enough money for his dream of flying he learned how to build a plane on the internet and then he took to the skies. It was always at least half a metre off the ground it flew for about two to three kilometers before landing. Since he took to the air Mohammed Fayyad has been a hero in pakistan visitors come from across the country to here is story including members of the air force and well the police too they came and confiscated his mini flying machine. The plane was returned to him as a goodwill gesture should he octane a flying license or permit he will be free to fly the plane. Hes grounded until last happens but his fame in pakistan is still growing for many people his story is an inspiration. Not all heroes were capes and thats it for me in the Business Team in berlin for more on these and other stories you can of course find us online at www dot com slash business or on facebook and twitter im Stephen Beard thanks as always. Some time in the twenty six. My great granddaughter. In your life time in around half. Your world will be around two degrees more. Inevitably sea levels rise by at least one media center. Reported to have some climate impacts maturing greater than what we see or maybe. Its really frightening. Why arent people more concerned. Little yellow. Stars mean to the first t. W. Hello and welcome when looking into the future of our culture today how were going to deal with Artificial Intelligence and how it will deal with us also coming up. The future of modeling with a c. G. I. Model called should do becoming a social media star. Handed one hundred german must reads David Leavitts on a Controversial Book about the plight of women in post. Ruled by glorifying the strong man is beginning to crumble among the many defeats we live in an age when we all have some sort of digital footprint a lie that i mean once you use the internet all social media basic aspects of your identity all no longer private theyre stored online also official intelligence so i can then take advantage of this in many different ways so scientists at Darmstadt University here in germany are trying to find out if they can teach a machines some sort of moral code should people. You know this is a bad thing to do. Yes why not the moral choice machine analyzes masses of texts written by humans and determines which combinations of words appear together most often its answers based on that analysis

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