but will germans buy a jew. welcome to you this is asia i'm going to get jones in berlin good to have you with us. in a new twist to the u.s. china trade disputes china has called the u.s. an economic terrorist and signals it could stop exporting rare earth metals to the u.s. and that matters because rare earths are used in a wide range of consumer products from i phones to electric car motors as well as military jet engines satellites and lasers now rare earth are a group of 17 elements here are a few of them therion for one is used in catalytic converters and cars bastien site is used in nuclear industry. is used to make magnets and lanthanum is used in camera lenses and so forth now china supplies nearly 3 quarters of all the world's rare earth 120000 tonnes that is the big produces include australia
with 20000 tonnes and the us used to be a major producers but now turns out just 15000 tonnes so are rare earth supplies going to be the bargaining chip in the us china trade war our correspondent andrea hang joins us now in singapore and in cyprus we welcome jameel global head of currency strategy and market research at f.x. t m good to have you both on the show andrea i would like to start with you because this threat of stopping a supplies of rare earth that isn't the only thing the united states needs to worry about right now. no it isn't a plug in china supply is the least of his problems because the americans us severely legging behind now the u.s. relies on china for 80 percent of its red requirements and with that supply being disrupted there's also another problem off processing china has processing
dominance in the world and the americans and severely lagging behind in their own processing plants very few very few are only being in the construction phase right now one is going to open in california this year but the other 2 won't be ready to 2022 all right so is a double whammy really jimmy and we've already seen that asian markets certainly were trading low today what's the impact going to be on financial markets and which acid classes are impacted the most you say. wow this is a very big deal for financial markets sensible and it's a big deal for a major number of different us a classes across commodities like oil and merchant markets stocks such as the shanghai composite index that includes the emerging market currencies that construction globally from the south african round africa to the chinese sean bell asian brit even as far as the mexican peso and lots of america based on investors become risk off and let's not even begin about the
impacts of corporations like apple major stock market side the german dax and the u.s. stock markets essentially investors are going into defensive and they are back in the trenches because these battle shorts are still beyond 5 there's another escalation what everybody actually hopes that this movie between the u.s. and china and trade sanctions would wrap up by this month but not at all it's going for a sequel on this why investors are defensive so that was means there are wider implications there not just for the united states but for the u.k. as well and for europe. absolutely these implications are far and wide and that globally we can expect global economic downgrades any day now based on the weakening market sentiment and the we can sense and around global economic health and let's also not forget that investors were preparing for a global economic downturn in 2009 seen based on external headwinds but it's
because these had once again louder because the escalations also drifted wide these downgrades the good coming thick and fast in part sure it impacts united kingdom intoxication economy impacts of u.s. consumer and impacts china will fight even mention of emerging markets this is bad for the global economy all right andrea. this looks like a real ace up china's sleeve is this the ultimate weapon china has in this trade route to strengthen its position. well monica i think china has to tread very carefully with this new threat and you know it has to consider other ways of hurting u.s. imports that doesn't have that doesn't disrupt the global system and supply in 2010 if we recall beijing actually told out is similar threat to japan over the east china sea dispute and as a result of that they disrupted supplies of over $5000.00 pounds to manufacture
such as of rare earths to many factors such as toyota and pena sorry but that did not pan out well and beijing did not emerge a winner out of that dispute the u.s. led coalition with multi with multilateral countries as well head to consult with the w.t. or in order to put a stop to china's threats and disrupting of the supplies off to these countries and there's a rule that they cannot do that and impose such bans on countries for the to disrupt the markets all right so it looks like another chapter there not the end to the trade route singapore and jimmy are made in cyprus thank you to both of you. now as the trade war between china and the u.s. rumbles on manufacturers in lower tariffs regions stand to gain textile processes in vietnam are already noticing more business from the american customers but they say chinese companies are also already relocating to benefit from vietnam slow
tariff status. this tonally based textile factory produces garments for american brands such as hollister bonobos the next press the manager expects exports to the u.s. to rise by up to 10 percent this year. thanks to the trade war between the u.s. and china several sectors of the vietnam economy have benefited most or. been especially our government sector not. the. one on my putting or. another reason more and more chinese companies are now setting up operations in vietnam to avoid the higher terrorists out of china. the 2nd they say ok maybe you don't when the u.s. supply tyreese on chinese products companies. immediately because vietnam and china are quite close together and it's
a moving materials from china to vietnam and from vietnam to the us it is the same as exporting from china to the us nothing new to me and. with no end to the trade war inside analysts say the manufacturing shift out of china is likely to continue and could redefine global trade patterns vietnamese manufacturers hope that could end china stallman's us the factory for the u.s. but instead of the higher terrorist driving u.s. manufacturers back home countries like vietnam are getting the business. the head of a japanese business lobby says a sales tax hike should proceed as planned in october as japan's society continues to grow older as a country needs to find fresh sources of revenue to pay for bulging welfare costs and curb the industrial world's heaviest public debt burden a number of influential lawmakers had suggested postponing the hike on concerns it could japan interesting. german discount supermarket as he has been branching out
into the world for years and is moving to. opened its 1st 2 stores in china next week it's ration will be based in shanghai the retailer already launched online sales of the world's 2nd largest economy in 2017 including china has over 6200 stores in 11 countries including the u.s. and australia. it is father's day here in germany and many dads are out enjoying a drink or 2 with friends and family now those in berlin could even get a taste of china's most popular liquor called bagel it's hardly known outside of china but a small group of foreign us is trying to change that. and few of tricia's clients in berlin might have ever heard about it and that is although it is the most popular liquor in the world hundreds of millions of chinese regularly drink it is a must. and use the ground to restructure the environment grow the truth one has
long been known for his creative cocktails but the grain based liquor has been on for just a little over a year. i don't think i guess would be open to straight by joe but it works well in mixed drinks especially with fresh juices it has a very interesting note something that's very hard to define what. he is trying out new recipes together with mathias he got the german has been living in china and is a co-founder of ming river by joe designed for the world market bomb and robert is one of their 1st customers. in fact in the 1950 s. vodka came from russia to the west in the 170 s. tequila from mexico made it recently mescal which is basically a smoky tequila also did this logically by joe will be next it is the last big spirit catch agreed to remain unknown and moreover it is the biggest of the it was a car to go ahead of it is. down call is made in lieu joe a small town in southwestern china by joe is traditionally served at banquets
expensive bottles are used to bribe officials but a few years ago president xi jinping kicked off an anti-corruption campaign. yet in 2012 there was a new policy budgets for official spending were cut and that affected the buy job market after 2012 we had a steep decline in sales i just. thought i should put. there by jewish fermented in mud covered earth bits that can be several 100 years old they give it a very special earthy aroma something most westerners find hard to adjust to it was . 19 years old and we were one of these outer barbecue places in beijing drinking beer and some chinese people the next table gave me a small glass of something out of a little green bottle said don't drink your drink this so i had it i thought it was the worst thing i had ever had in my head at that. but with time he started to appreciate there are hundreds of brands and types of by joe this distillery alone
produces dozens of brands the range from a few euros to several 100 euros per bottle depending on their age by joe has embarked on the world johnny and drinks have to be created from scratch. actually it is not bad but not as smooth as a church is on 2 of. those who say this could work but this one is too dense it needs more and more water. their hope is that one day by your will be found on bosh herbs just as naturally as whiskey what go. well cheers to all the fathers to celebrate today and there's your business op day here on g.w. for me and the team and. thanks for keeping us company.
in. their pursuit for. themselves away. super secretive then you'll hear the jingling of coins super her. definitely around 20000000000 more like. how do germany's wealthiest people live why do they keep such a low profile. snoop around to catch a glimpse. of the top of the world the disc to supervise which starts june 10th. live. with the senses. recognize and experience the inexpressible.
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