forseen the god made the comments in paris at a gathering. of ministers in france washington is accusing beijing of backsliding on its commitment to head off an expected trade deal this week slapping new tariffs on chinese goods just as a trade deal looked likely more uncertainty markets were bullied by news that a chinese delegation would be headed to washington for a final round of trade talks but then the u.s. side revealed why president trump had increased tariffs on billions of dollars worth of chinese goods accusing beijing of bad faith for the stewards of the world economy the stakes could not be higher in paris i.m.f. chief christine like out issued a stark warning she said clearly that tensions between the united states and china are the threat for the world economy and france's finance minister said the uncertainty could be felt around the world. global
growth is slowing down and the first reason why global growth is slowing is the risk of trade war two of these could do commission is it would be a good one. and i want to reiterate that my main concern the main french and european concerns. remains the risk of a world trade conflict and war driven by the trade dispute between china and the united states it is a worrying prospect then that this week will end up with a us china trade deal but with new tariffs and tensions we have now talking to stefan legan is an economist from the university of sun. why is christine so worried isn't this just donald trump playing hardball just for the sake of his local audience. well i think both is true of course donald trump is already laying the groundwork for his twenty twenty presidential election campaign
but the reason christine lagarde another economists are concerned about the impact is so far everything we've seen as an impact from this trade war or trade conflict has been in line with what we expected however the question the big question is what is the magnitude of the impact if that trade conflict escalates further and unfortunately or better fortunately we do not have an recent episode of something like that happening that is we do not have the data to clearly say what will happen if a country like the united states imposes tariffs on all of its imports from china and imposes tariffs of the magnitude of ten fifteen twenty five percent so we can simulate the fact in our models but there's a lot of uncertainty about whether or not these models properly reflect the impact of a major escalation of this trade war stephanie thank you very much. the u.s.
has warned india not storyteller it against washington's plans to end certain trade concessions for the south asian country indian officials are considering raising import duties on some u.s. goods if the white house proceeds with a plan to strap a scheme in place that allows indian goods worth about five point six billion dollars to be imported duty free a proposal announced in march came off the president's drum previously called on india to reduce trade barriers with land and preferential trade with india has also faced a backlash within washington. the world's biggest beer brewing company on has a bush in bev is planning to sell shares in its asian operations multinational hopes the proceeds will help reduce its one hundred billion dollars of debts brewers active in more than one hundred fifty countries and its five hundred brands include upmarket brands like budweiser becks and corona which are becoming
increasingly popular in asia one has a has a market share of about fifteen percent in china alone on the say the i.p.o. could bring in up to fifty billion dollars worth of revenues over eight percent up from just under five billion dollars. and here are some of the other business headlines from today b.m.w.'s first quarter profits plunged as it has to pay a one point four billion euro penalty related soon e.u. probe over collusion in the diesel gate scandal comicon said the charge brought quarterly profits down to five or five hundred eighty eight million euro's as wrong seventy five percent less in the same period a year ago wanted warned investors that a big fund from the european commission was likely brussels alleges b.m.w. commutative dima and folks to avoid competing on emissions control technology. it's dave the current is two prosecutors have ordered germany's porsche to pay
a five hundred thirty five million euro fine for exceeding pollution limits on its fleet of luxury hot vehicles or spare and company folds. subsidiary out he had to pay similar fines for their role in v.w. so-called steel gates going up penalties formal administrative fines and a separate from ongoing criminal investigations the scandal has so far cost b.w. more than twenty eight billion euros in penalties buybacks and other costs. now let's bring in our financial correspondent conor booze from frankfurt common that most collusion charges against b.m.w. how is cappello now being applied to german car makers. you know go european commission all the competition watchdogs of the e.u. commission say that the comic has formed a cartel by discussing industrial standards for diesel engines and petrol engines
and by negotiating what kind of industry to standards they want to promote that way the commission says the car makers prevented innovation and that's how they formed a cuttle now margaret vest the commission's competition chief she says that this might be stretching the notion of cartel law a little that of course this doesn't fit with the traditional description of price cartels still she says this was a cartel and that's why the card makers have to pay that fine. fines poles are also being fined also billion euros so far a german comic has had to pay big fines and settlements in the u.s. is now pay day in europe. certainly looks like it and quite obviously you know state attorneys here in germany and also other legal institutions in europe have taken much more time than the americans to find out that there actually
was a legal basis for criminal charges for a damage payments for the fine payments but i also have to say you know many of the things that the car makers did before all the scandal of the diesel at the emissions cheating came out was not considered to be illegal here in europe all the authorise the authorities didn't really pay attention well early in the course of this scandal the authorities bit by bit found out that there was something criminal going on and that they actually should go after it. on the who's there in frankfurt for us thank you. the turkish lira is nosediving again for the first time since october one the us dollar was worth more than six lira investors feel increasingly unsettled by the political
situation in turkey the country is also going through an economic crisis prices are rising and the general public is increasingly critical of president out of one who has now ordered a rerun of a municipal election in which he is a k. party was defeated. the african national congress is on course to win a sixth term as the governing party of south africa on wednesday that's despite the comes with struggling economy president obama who is expected to stay in office as promised to spark growth and decisively deal with the country's twenty seven percent unemployment rate a statistic that translates to more than half of the country's used being out of work. the african national congress is trying to secure a sixth consecutive term in africa's most developed economy the candidate in the
may eighth election cyril ramaphosa has promised a new dawn after a decade of decline which has seen south africa regress so fast that only countries at war have fared worse. we are way into your we are. for first time voters like boy to me a lot. who holds a degree in hydrology the prospects look bleak the country has just emerged from a recession and growth is only expected at one point five percent in twenty nineteen. good to eat at last year and have been unemployed for like five months now and why would i be avoided this year i'm still kind of but decided that. the stifling economic climate is strangling the private sector and many businesses like this security company staring down the threat of closure or bankruptcy.
you know we're. basically everybody just turning over three times the first minute it really isn't in context coming through the ones that we do quote when we don't we just don't get. in space in the last twelve months we've gone from having three percent. in this one. analysts argue a turnaround won't be easy in an economy with more citizens on state welfare than taxpayers. over the past ten years the government under in the c.n.n. in the name of ac has been focused not on growing the economy paying attention to economic issues all the nuking of the state starting from the president doesn't goods unlike the first half of day in seattle from ninety ninety four to two thousand and seven i think god. is adamant that his lofty talkin to one hundred billion dollars in foreign direct investment over the next five years will set the
country on a new trajectory. beyond these elections the level of confidence in the business community will go high and they are telling me that as well so they're investing a lot and what happens after the elections and won the elections have happened they caught on they were taken would be a virtual walk in the eyes of all investment into our country you wait to see my it'll be a challenge even for the man nelson mandela had hoped would succeed him. europe
the big idea. but what's become of it. will it look like tomorrow. been for a better future isn't enough europe requires a coworker education. you know actions twenty nineteen may twenty sixth on t.w. . land will you be our fighters want to start families to become farmers or engineers every one of them as a planet in a super you should. say nothing is just the children who have always been the boy. and those that will follow are part of a new. they could be the future of. granting opportunities global news that matters d. w. made from minds. earth home to millions of species
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growth is slowing down and the first reason why global growth is slowing is the risk of trade war two of these could do commission is it would be a good one. and i want to reiterate that my main concern the main french and european concerns. remains the risk of a world trade conflict and war driven by the trade dispute between china and the united states it is a worrying prospect then that this week will end up with a us china trade deal but with new tariffs and tensions we have now talking to stefan legan is an economist from the university of sun. why is christine so worried isn't this just donald trump playing hardball just for the sake of his local audience. well i think both is true of course donald trump is already laying the groundwork for his twenty twenty presidential election campaign