The french economy. This is day to be a business on robots in berlin its great to have you with us germany has announced a new blueprint for relations with asia calling in particular diversity and its focus on the region thats being interpreted as an effort to lessen its dependence on china a move that would almost certainly have consequences for german businesses. From its messy internment of we goes engine jiang to its crackdown in hong kong and of the shop and the edge of its diplomacy in recent years china is politically a growing problem for germany. Economically china is a golden goose on average german Blue Chip Companies earn 15 percent of their revenues from china some go further china accounted for more than 40 percent of turnover for folks who are going in the 1st half of 202034 percent for b. M. W. And 22 percent for adidas. And that gives china leverage in the relationship the new guidelines from the German Foreign ministry are meant to begin correcting that imbalance one
H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da
100000 mark amid criticism that the Trump Administration could have acted earlier and saved thousands of lives. Hello im terry martin welcome to the Program China has taken another step to increase its control over hong kong and to quell public protests in an overwhelming vote of approval beijings National Peoples Congress Passed a plan giving the Chinese Government the power to begin imposing new restrictions on hong kong the controversial security law will bypass the territorys own ruling legislature prodemocracy advocates say the law by lates the freedoms promised under Hong Kong Special one country 2 systems stoppers. Was cross over to beijing now work correspondent standing by what will beijings new National Security law mean for hong kongs future. I spoke to several activists from the prodemocracy movement in hong kong and for them thank. You so afraid the line to beijing is has been compromised sorry fabio hoping maybe well bring him back in the program a little later that would
The Government Faces more criticism over the way its handling of the pandemic. Only. Muslims around the world are urged to stick to social distancing guidelines at the start of the fasting month of ramadan. Global leaders have joined the World Health Organization to launch an initiative to speed up work on drugs tests and a vaccine for covert 19 that will be available for everyone but that was unmarked absence in the United States announcing it would not be getting involved the w. H. O. Is yet to reveal further details of the initiative w. H. O. If chief says its important all tools used for fighting the virus are available to everyone. But experience has taught us that even when tools are available they had been not been equally available to all we cannot allow that to happen today doubly sure is proud to be uniting with many partners to launch the axis to call video 19 tools accelerator or the accelerator this is a landmark collaboration to accelerate the Development Production and.
Or. Muslims around the world are urged to observe social distancing at the start of the holy month of ramadan. Welcome to the Program Leaders from around the world have announced that theyre teaming up to develop and deliver a Coronavirus Vaccine will be accessible to all the program its being called a landmark collaboration work will start with a global pledging effort next month aimed at raising 8000000000. 00 the un and politicians all stressed the need to make any vaccine widely available to everyone there was a notable absence of course from the meeting of the United States which says it has no official involvement the. Chief said its important that all tools used for fighting the virus are available to everyone. But experience has stored as that even when tools are available they had been not been equally available to all we cannot allow that to happen today doubly sure is proud to be uniting with many partners to launch the axis 19. 00 accelerator or the act accelerator this is