A massive test and Trace Initiative following a covert 1000 outbreak linked to a wholesale food market in beijing and used added to an isa about higher coronavirus cases in the us 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 as also the u. S. China trade war it started exactly 2 years ago and its still ongoing. But there was surprise of the it may sometimes seem like it but the u. S. China trade war its not the one. Sitting opposite donald trump theres another president brimming with selfconfidence whos determined to make china the worlds economic powerhouse by 2025 but the usa remains in xi jinping is way. 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 everybodys sort of those well china will be number one at some point Everybody Knows that number one in the in the business segment should become number 2 whether i get. So 5. 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 fell 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 Keith Rockwell director of information and spokesman for the World Trade Organization and i asked him whether after 2 years were any closer to a winner in this trade conflict. Mica there are no winners in trade or we see losers really across the board whether its the American Consumer pay 650. 00 more for goods and services as a result whether its german Car Companies that manufacture cars in South Carolina whether its farmers in china we have to pay more for soybeans all of these 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 fair enough now i must say that at this stage what we have found is that this trade where its been sassoon by the much larger problem weve seen countered with coke 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 have actually gained because trade been diverted whether its vietnam or whether its mexico or even the e. U. Countries in Southeast Asia have gain 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 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 then critics of a contraction of 5. 2 percent these are Great Depression type numbers and they have caused massive suffering already 200000000 jobs have been 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 rockwell director of the information next on the Relations Division and spokesman at the w t o thank you so much for your time. Thank you monica. And though a brief look at some other business stories making use. 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 allowed 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 code 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 meet code at 9000 guidelines to keep shoppers and workers safe that means lining up to enter using hunt sanitizers and following a one way system. The coronavirus has finally ended germanys commitment to a balanced budget berlin 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 4 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 e. U. 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 order 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 we. 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 were really pleased about that on top for lots of theresa. Gurlitz 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. Being used in the whole situation has been alarming every day has been a balancing act 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 60 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 here and i cant find the information i need on the internet but in travel agencies especially for lets ive always received good service and 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 theyre hoping that tourists will still want to come to germany despite the Coronavirus Crisis. Thats your business. You from me and the team and. Thanks for keeping us company. This might soon be a thing of the past when its cash when you can just as easily pay with an easy wallet worldwide digital wallets on our smartphones are growing more and more popular what systems on the market how do they differ from one another and how safe are they our topic so they are. Mostly wallets commerce smartphone apps. Biometric solutions to sure your own hand might replace your wallet a scanner authorizes the payment and thats it businesses are paying out on the trend and offering more Payment Services facebook even announces on at present lee but which one is right for me. That might depend on where you live and what you plan to use it for. A bouquet of flowers without any cash to many its already an ordinary part of daily life lets let users pay quickly and easily theres a wide range of apps to choose from. You can get the wallets through your bank then its basically an extension of your regular account on your smartphone. Connected to your mobile plan they conduct transactions via text message there is also a growing number of other providers whether Global Players for worldwide payments like google pay or pay pal or for certain countries in currencies like alley pay in china or in india. The main principle stays the same the wallets are for storing money. The balance usually comes from of bank account or credit card or is topped up in cash the app lets you pay by clicking a button scanning a q. R. Code or with Near Field Communication i use it mostly because theyre really kind of because you can pay everywhere and anywhere with your mobile phone and it takes away the hassle of dealing with cash auditing with physical credit cards with mobile payments you can just get a q. R. Code and that comes directly from your bank account. User should look out for fees though often sending money to friends is free of charge but many providers make a profit on other transactions charges 5 percent on International Money transfers for instance that can become costly in the long run. So heres a checklist for finding that your wallet thats best for your needs what countries and currencies doesnt work and how can i top it up what Payment Options do i have and what does the option i use most cost and as always its also important to look out for your security personal data. Expert julie martin some basic advice for choosing the right provider look for multiple factor authentication look for making sure that there is a backup. And make sure that they are warning you about how you should be interfacing with the technology. Whether or not my money is safe depends on how i keep it leaving my wallet is probably a bad idea using 1234 as a password for my. Also not the best but providers need to maintain Security Standards to. Technically speaking most do you want to buy serious providers are well protected the data is encrypted and stored on secure service its recommended to use which have been checked by at least 2 Security Companies one risk remains humans passwords need to be protected and you want to use are a popular target for phishing attacks which enable criminals access to what this digital. This is the power and the danger of mobile banking you are your own bank and if you have bad security practices you lose your phone or something happens then you are the one who is going to suffer the consequences of that like Online Banking mostly you want to use 2 factor authentication for example password and fingerprint what if a transfer of fields or though some providers have accommodating rules similar to a bank but that is not a given that usually circumvent the middleman making a profit and if there is no longer an intermediary there who is making money off of you. Then you have a danger that youre not going to get that charge back theres nobody to charge it to send it back to you. So. Some risks but doesnt money always. How does mobile payment compare to other common methods we took a closer look. How secure is using it compared to using a credit card online the only way to answer that question is it depends it depends on the wallets and on the online Payment System there are your wallet systems that are more secure than some of the online Payment Systems that are in use today and vice versa. I would prefer the wallet to using the credit card in the store because youve removed the Human Element you dont have the cashier taking a credit card copying it or memorizing it or whatever. And you will it is definitely more secure in the sense that. You dont have to worry about terry physically keeping the cash with you all the time and having enough to pay. Every time i give my kids cash they seem to lose some of it for example if they never lose their phones. So when it comes to security lets make a good impression but what about user data and the Electronic Transaction leaves a digital footprint when it comes to wallets that information is not only available to my bank but also to Service Providers like paper. Digital wallet is just another step towards transparent customers i mean cash has a certain anonymity to it that people like. You dont quite have in the same way with digital currency. Digital transactions create footprints which many providers also use data about payments absolutely is being used about you absolutely some Huge Industry people make lots of money by analyzing payment flows from many users however the advantages outweigh the risks. All these private corporations know exactly what youre spending behavior is like what you are like as a shop where your your behavior patterns essentially and that might be uncomfortable for some people but i personally its not a big issue i would rather my transactions be tracked. Safe rather than not tracked but not saying. In the end we need to choose whats most important to us. Fun fact in germany were huge fans of hot cash hardly anyone uses wallets here other European Countries are less cash crazy in going in a via more people prefer a mobile payment and in many Asian Countries it has long become a part of daily life china expects half a 1000000000 customers to use wallets in 2090. And its no wonder its simpler less expensive and quicker than your plastic bag if i wanted to transfer money from my regular bank on a friday afternoon for example i have to wait until monday morning for it to be processed when i use my wallet the recipient instantly receives the money along with the message that it has arrived and the best part is i dont always need a bank account for about. The World Bank Estimates that globally about 1700000000 people dont have access to a bank account for them he wants could enable access to the financial system. One example is the digital Payment System. It started in 2007 in kenya and is available and other african countries in india and in parts of eastern europe. The account is linked to a mobile phone number users can pay bills or transfer money by text message a Large Network of employees agents allows for the digital wallets to be topped up one of the interesting things about electronic quality is that in places where the Banking System is less developed the least developed you find the highest levels of comfort with using digital well thats simply because people will grasp on to any alternative that works back in the unbind has come to facebooks attention to the plan to its caliber is supposed to be integrated into Facebook Messenger and whats up users could then do worldwide payments in facebooks own currency libra the project has raised International Criticism but facebooks entrance on to the strongly regulated Financial Market should give mobile payments another boost i think most likely in the next 5 years we will see big movements towards global capabilities because of players like we chat and facebook and others with these massive platform reach pushing the sector forward and. They. Sort of help break down the barriers with governments to get on board and allow this cross jurisdictional use country to country use of these kinds of currency it will become easier and easier. Facebooks idea isnt necessarily a new evil its using crypto currency is like bitcoin have been around for years they encrypt transactions with blocking technology which makes them particularly safe. Crypto currencies only exist digitally and are not regulated by any bank the most well known ones are bitcoin and. The term comes from the greek word kryptos meaning secret or hidden points toward the cryptographic encryption used for all components of the currency system. This technology is much safer than usual encryptions all information from balance a transaction is secured in a block chain meaning in a cryptographically encrypted protocol this way user data is stored safely. Depending on the type of currency some of them are fully anonymous and nobody can see your payment history and that is a much more secure way of maintaining anonymity and payments. Could potentially be as secure or more secure than cash. But this anonymity only comes with specific crypto currencies the advantages of digital wallets are easy to use they allow for quick transactions with a high level of security at least when you follow basic Data Protection guidelines one big disadvantage is the Sensitive Data you leave behind when you pay how much money i spend on water and when is very interesting to businesses and theyre willing to pay huge amounts to know whats it like for you and wish you well as to you you and why. Let us know become a part of the shift community on you tube and subscribe to our channel b. Look at everything from Artificial Intelligence and robotics to gaming and gadgets so you know they are by by. Hijacking the news. Or are going from the news of this being hijacked journalism itself has become a scripted reality show its not just good versus evil us versus them white and one. In countries like russia china Church People are told that is that something and if youre a journalist there and you try to get beyond it 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. You know all of the smoke and mirrors its not just about being fear for a barrel or being neutral its about being true. Funny is boring golf and i were getting. Big pharma under pressure. Huge protests against buyers and German Corporation that makes insecticides. For years studies of war and these materials are damaging the environment. The manufacturers continue to make huge profit. By her and to be close up. On t. W. In the way of climate change. Is missing. People. Want to see is do they have their future. G. W. Dot com African American cities in the making just. Click it or. Like. Exists must. Be for the russian soul comes to. Us so many different walks of life. Some. And continent one bottle of them come straight from the heart. The Russian Internet journey to death starts to maintain on d w. With beings dying at record rates these beekeepers are protesting against German Chemicals giant bale and it too insecticides. We are the victim we provide a huge service to society just like our bees pollinate food crops and this is the thanks with us. For decades studies around the world have highlighted the dangers of certain insecticides something bad was keen to hush up they wanted to keep it
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