second quarter u.s. economic growth comes in at over four percent triggered by can see misspending and high exports that is the stain of bill in the new era of trade conflicts also coming up should foreign powers be allowed to own critical infrastructure germany's government says no i'm blocked the chinese takeover of a company controlling the electricity grace. about chinese investment can child's home countries we have a special report from cambodia. they say is your business update on having a home free but thanks for joining me well the numbers are in they no good very good in fact over the last quarter the u.s. economy grew at its fastest rate in four years and that's positive news for the world's largest economy but analysts say it's unlikely to be quite as positive as the white house makes it out. trump was quick to celebrate the new figures four
soybean exports shot up over tariff concerns government spending rose in part due to the defense budget. and there are worrying signs housing sales continue to decline wage growth is still weak one thing is sure the u.s. economy is booming at the moment in the long term however question marks linger. let's go straight over to off financial correspondent yens quarter in new york cannes then went on to say in that press conference off to it had it achieved an economic turnaround of historic proportions that's how he put it is that the case is this growth reflecting an overall trend of global recovery we have seen some synchronized global growth in the past couple of months that certainly did not hurt but most of the growth actually did come from u.s. consumers and then also the tax cuts at least for now certainly also pushed
economic growth in the u.s. higher this growth story started in two thousand and nine so way before dawn of trump became the president of the united states so he can't put it all in his own shoulders but if we look that we are rather late in this growth story a growth rate of four point one percent in general is pretty impressive it is impressive that said the u.s. federal reserve has still got its full year growth out where it is holding steady at two point eight percent so is that seemingly meteoric pace of growth envisages i mean is it actually sustainable. well i mean we certainly did see that this administration is giving all it has to push the growth higher but there is clearly also quite a risk involved in this well donald trump grew up in luxury and probably still lives in luxury empty might not have heard the term safe when the times are good so
that you can spend when the times are bad so if the economy shifts but the recession is not on the horizon yet the growth forecasts for the third quarter for the fourth quarter assume looking pretty good so most of cobol call them is say that maybe in a year from now so that's when really things could to haunt us back specially also the tax cuts we see a huge debt load here in the united states but nobody really wants to hear that at this moment. of us all in a wall street thank you yes. which has plunged nineteen percent in friday trading that saw for the social networks at the number of monthly users was down by one million in the second quarter and it expects of the drop in the near future user numbers are declining as twitter intensifies efforts to fight spam fake accounts as well as hate speech online search privacy rules in europe have
also made business harder twitter is the second major social media to report a decline in uses off of facebook they came just a day off of the world's biggest social media media platform suffer the biggest ever one day loss in dollar value for a u.s. company germany's government is intervening in the sale of critical infrastructure to chinese investors german state bank k f w has agreed to take a twenty percent stake in high voltage energy network operator fifty hats fending off an offer from chinese state great but instead it has a strong interest in protecting critical energy infrastructure from foreign influence. control over the distribution of electricity it's important for millions network operator fifty hertz provides transmission in large parts of north and eastern germany including the capital berlin that's one reason why the federal government deems a partial purchase of the utility by chinese investors problematic.
on one hand we're naturally pleased that investors invest in germany and purchase businesses. on the other hand given how things have changed in the world we have to look at what business activities what areas are focal points for national security . to be. it because the investor in this case is a state run company trying to meanwhile shields its own market against competition from the west the german government has long pushed for equal rules for everyone. does things especially just as well that's why it's right that we seek reciprocity a disclosure that we work towards similar rules of the game internationally and this is where these big investment plans are increasingly playing an important role but it's about german firms securing equal access to chinese markets and even solution others are critical of the involvement of the german state bank and global view that ensued between we risk taking ourselves out of the driver's seat so you
don't believe every investor with specific infrastructure in his portfolio will think well maybe a chinese firm she needs it in the federal government can spring in with the german state bank in the un with their pound of. government officials will debate the next case next week chinese investors are interested in a german technology firm. well china is cementing is position as a global economic superpower quite literally the country invests in infrastructure projects around the wild especially in africa and asia and in cambodia chinese investment has totally transformed the once tranquil resort of. south east asia correspondent best and heartache filed this report. like every day is preparing his little khmer western restaurant for dinner time. and like every day he knows that he's unlikely to sell out all the delicacies he's putting on display. sales for composing and business owners like have slowed dramatically since the coastal
town of sihanoukville has been overwhelmed by chinese tourists. who come and. they come here but most most of them they go to chinese restaurants while his last sixty to seventy percent of his revenue some of the chinese own restaurants down the street are pursing at the seams. the main attraction for chinese tourists in sihanoukville the casinos. gambling is a favorite pastime for many chinese but it's illegal in mainland china here however casinos are springing up like mushrooms. alongside luxury apartment blocks at prices ordinary composed ians could never afford. by any measure cambodia is a poor country but its economy is growing fast and largely that's due to the massive amount of chinese investment pouring in and much of that money goes into
construction projects like the one you can see here by the end of last year chinese construction contracts in cambodia were worth some seventeen billion dollars and that's almost as much as the country's g.d.p. itself. the influx of chinese money is a blessing for those who managed to land a job here they can earn two to three times as much as others. i know and he's rich now but at least i'm no longer poor. i used to not have any savings at all now i have some money at home maybe one or two thousand dollars things have definitely improved compared to when we were poor. we have about fifty . but you know. others have found work at one of the mostly chinese factories opened in the special economic zone close by what attracts investors here is the cheap labor but with demand for workers on the rise so worker wages i predict in the next ten year maybe the minimum wage in cambodia is about two hundred dollars
two hundred so they ought to have fifty dollars so that this can be less competitive in the world market so the problem can go to how to change their production star so government how to do very hard work with that because most people they leave the school. a grade six grade a grade so that the problem how to improve the value added because the but activity is a low cut for the moment become podium economy is benefiting from china's investment push even if you know not everyone is happy about it thank you that's it for me and the business team has more find us on twitter and facebook and for you as a real time check on the global markets at this hour have a great weekend thank you company.
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