Goes down must come up again thats what economists are saying as 2020 promises more dismal news well hear from an expert who says rebuilding the economy after grown up harvest will be like recovering from a cool. And they are one of germanys top Tourist Attractions having one of its best known products even ill still be a god are struggling thanks to cope with 19. Welcome to do business and want to. Be with us and was starting with a possible solution to a long running World Trade Organization dispute over subsidies for air bus jets the european plane makers said it had brought itself into compliance with w t o rulings to accept high Interest Rates on loans from european governments the European Commission said this meant us tariffs on planes could no longer be justified and want the block could impose its own sanctions on the airline as built by. Boeing thats currently the subject of w t o betray should be in a power of case. Rather complex story this lets bring in our financial correspondent in frankfurt Jesse Delaney jealousy if i understand correctly the e. U. Is offering an olive branch but also insisted the u. S. Should accept it or else is this the way for which to settle this dispute well this is this is definitely a gesture on the use part but i wouldnt necessarily say its a peace offering its an all of branch that comes with a threat hanging over at this is a very long and complicated case the dispute over heiress. Airline subsidies has been happening for 16 years now there have been many many peace offerings many all of branches by oh by both sides and its repeated we just escalated so there is a very long history in this conflict and at the same time we still have this w t o ruling awaited any minute now it should be coming any day and that could give the e. U. The opportunity to respond with about 11000000000. 00 worth of tariffs of its own so that could certainly continue to escalate this this conflict so this is a 16 year dispute another one isnt quite that long but also very sick via the u. S. China tension that continues to escalate and i believe markets are really really getting nervous. Its definitely coming back into the forefront for markets and messrs have been very focused over the past several years on the trade tensions between the United States but this is really exploded over the past couple of weeks and into all sorts of different areas technology the independence of hong kong chrono virus and obviously given that these are the 2 largest economies in the world the u. S. And china and this could have really significant economic implications if we do see more italian if we do see this weekend to spill over into trade again so thats definitely a concern for investors and i chose to join in frankfurt thank you with planes grounded in business assaults around the world experts are expecting the eurozone economy to tang to this year but what comes after that will the economy reinvent himself become more resilient in a moment well talk to the co also of a book called to the great reset but 1st a look at the ups and downs many experts are predicting. Grounded planes just one of the many images that sum up the sudden and dramatic downturn of economies around the world. All against a backdrop of deserted streets and shuttered businesses the coronavirus has put the brakes on the economy like nothing before europe like many parts of the world is facing a dramatic downturn. The eurozone economy is expected to shrink by well over 7 percent this year the tension the biggest decline ever seen that said there could be a major recovery next year experts are forecasting a more than 6 percent resurgence in 2021. The fallout of the coronavirus is also expected to see the unemployment rise from 7 and a half to 9 and a half percent this year but next year along with the unexpected upswing the jobless figure is expected to drop again to 8 percent. How quickly individual countries in europe recover depends on their management of the pandemic as for the rest of the world the w t o warns that a global approach is needed to stabilize the economy we need to have mechanisms in place that will kick in automatically because the the need jerk reaction before any emergency like a pandemic of this nature is to protect the ones that are close to us right still before me and my family then my community my street my city my country so its concentric circles d which do not always favor because of cooperation there is needed to truly address and effectively address a crisis that is global in nature which ever approach prevails some experts fear that things are unlikely to go back to the way they were any time soon. And we seem to have run into some technical problems getting hold of our experts we keep trying in the meantime some other Global Business stories making news. Here now has banned the trade in wild animals and wildlife products the country is an important market for illegal items such as pangolin scales and ivory. British retail sales grew much more strongly than expected in june rebounding almost 14 percent thats close to their prerock down level as nonessential stores reopened in the middle of the month. And i will have another go getting hold of our experts at the a model of a who is the managing partner of the monthly parameter and here it is good to have you with us. Now the pandemic of course is laid bare the flaws of a globalized world yet many people are very keen to get back to normal whys that. Well not really because its a traumatizing interest for so many people around the world i mean back to Normal School most people meeting going back to the learn to live the happy for so happy to put any behind them but these wont happen before that is a variable which is going to be me 2021 idea is to according to most experts im going back to normal is fine for many due to a certainty that it was going to be fine from correct but. Right away it we certainly heard we said earlier that at the start of the pen dimmick many said that this crisis actually offers an opportunity to rethink our economic models and set things right things that has been laid bare before inequality and so forth Climate Change what are the chances you think that well actually use that opportunity i think that was greater than we think and the case we argued the book the reason for which is called the great reset as you just heard the crisis but very crisis of global all the problems that were predicting the pandemic and the power not been amplified but the direct social inequalities one of them of course Climate Change of the other the loss of biodiversity etc so all those problems have been up before the pandemic and now its an. Opportunity to get back to a situation where we can build but as expression goes so the 2 thoughts on the road one which is business as usual which wont work all really bibo which is probably the root of many governments around the world is going to take ok but that means change and change is always very difficult certainly to convey tool to the electorate to voters you compared to the Economic Impact of this pandemic in the book you mentioned with thats of a world war what exactly does that mean. What it means that the damage has inflicted a nest of shocks upon the entire Global Economy that has no precedent in recent history if you take it to be crisis at the heart of the heart of the past the case no. Issue and one. Of us the great financial crisis in 2008 no one is equivalent in terms of minute issues the crisis that is unfolding at r. E. I. To the moment and the reasons for which we use this war metaphor what started because its been used by many personally goes around the world who are that we are waging a war against 3 people and its global and 2nd its a Wonder Center that night use of the past is formidable ok. D. Im not a theyre fundamentally barometer very interesting thank you so much. Thank you for finally looking at the problems of dining out dining be a goddess could be a great solution in the time of a pandemic but there are problems too. This is what summer is supposed to look like in munich but this year it seems nothing is the way its supposed to be. And you dont have to look far to see the very in beer gardens are no exception. Registration at the entrance. Facemasks at the counters and cashiers. And an unusually large distance between the tables usually people would be sitting back to back here now social distancing rules mean that theres less than half as many tables and that translates into up to 40 percent less revenue combined with the closures during the lockdown the impact is severe theres one thing unique spirit gardens have going for them is to destroy the i do not even get home kind told there arent many alternatives and there are no festivals no activity and places swimming pools have reopened in people can go to disney but otherwise there arent many options to spending your free time at the beer garden so thats what you got is were bringing you just with all skills and its not only the weather that was customers outside which is strong so none of them i feel much more comfortable house in the one which i try to avoid confined spaces as much as i really want to im afraid your little sanctions will do the much admired sized in the. End even though business here is picking up again it cant make up for the overall losses the industry has suffered because of the pandemic. And uniques who for a brewery their bodies give told protest here a special brew they make specifically for the top of. The festival itself has been cancelled this year for some 90 percent are meant for local stores and export anyway not much solace because a broad business is slow to. Windows needs on life to. Yes these are the need that the signs on these week in the next 2 months to get across lean years over in the sell beer in the winter to the moon also to non tourist areas are letting our Main Business is in the summer and even the same in north america every summer is the most important season up until the october but theyre all cancelled because i need a new engine or 2 of his getting back to normal in times of a pandemic difficult as a Business Update on t w thanks for watching. Combating the corona pandemic. Where does research stand. What are scientists learning. Background information and news. Hour corona update. 19 special next on d w. 6. To go beyond yes. As we take on the more right. Were all about the stories that matter to you. What ever is. The big. Deal you made for mines. Every day counts for us and for our planet. Ideas is on its way to bring you more conservation the bounty makes you scream. How can we protect our tests. We can make a difference to. The line to the environmental series of the global 3000 on t. W. And all ma. Ma musters from nigeria you know thats what nollywood stands. Authentic. For and successful beyond belief. Followed this is the way we do it. Would start aug 7th on d w. Protecting children in a pandemic is a must education is vital but so is preventing violence and sexual abuse their mental state is also at risk in isolation. This point in time could map out the rest of their lives. Unicef once the crisis could push up to 86000000