And from free full to rebound in nigeria, the novel valley is off the economic performed spots my jillions of band the running to sky high installation. The world is nowhere near which even be Sustainable Development goals. By 2013, we speak to the president of the Un General Assembly about his call to action. China is germanys biggest trade partner bought. Berlin also sees of aging as a competitor and a rival at a 1st ever strategy on china launch last year in touch to reduce dependence on the Chinese Market. But during his visit last week to china, the german chancellor signalled his intentions to maintain business ties that may have and get some of all that shows his closest allies. The you has lot, several investigations into exports of chinese Going Technology to protect your pin industry from what it sees as im competition. Dmitri meza dancler reports on whats at stake for schultz 3 days in china for chancellor William Schulz and his entourage of top chief executives. From leading German Companies, thats despite the German Government announced strategy to reduce risk of becoming too dependent on china. Shania lighting by which is shown shit, fucking china in germany of the 2nd and 3rd largest economies in the world. And the significance of consolidating and developing sino gem and relations transcends the scope of bilateral relations. It has an important impact on the erosion content and, and even the entire world. China is germanys number one trading partner. Giant, german firms such as volkswagen, have been actively expanding the business that for thousands of years. But many of the companies have said they feel disadvantaged or even discriminated against, accusing china of protecting its own companies with massive subsidies on some policy involved. So this is a key issue all over the world. Many countries do that, especially when it comes to Renewable Energy use in advance to let them ability technologies. And thats why its important that we establish processes here that ensure that we move away from the practices where everyone asked simply according to their own ideas. Thats one of the reasons that e u has launched several investigations into cheapo chinese goods flooding the market, including electric vehicles. German comic is via these investigations could lead to a damaging trade war july and the name of the one with the on the primary goal with the business must be to make profits. The Chinese Market contributes 2 thirds of Global Electric vehicle sales. So the Chinese Market is indispensable to the gym and call companies, and they also, i bill factories there through germanys chinese partners. C schultz is visit as a positive sign. I think the message is very clear. A jeremy and want to continue corporation with china continue to Grow Business in china that continue to expand some of the areas currently. Maybe not enough cooperation will not be enough german business presidency in china, such as i, we college of fluid around 120, over the years old. China relied on gemini, im the you for tech inputs, but now its technologically self sufficient. In the event of a major spent with the worlds 2nd largest economy, germanys could be seriously damaged. Some experts say gym, and g d p could shrink by 5 percent the same amount as during the cobit crisis. To meet you met that in co, out to 0 for counting the cost of a more on this let spring. And i guess joining us from milan, italy is danielle gross. Hes the director of the institute for european policy making at the Corner University and an advisor to the european parliament. Im from sonya pool is shay gong. Shes in the system professor in the China Program at 9 yang technological university. A very well welcome to both of you, mr. Goes, ill start with you in milan. Why has old f schultz gone from pledging to scale back to him . And he was reliance on china when he took office to know what he was saying when he was in china, calling for equal access to china as markets for foreign funds. I think one of charles wanted to see the energy and the, the energy is german fans do own business in china. They complain because they might be doing even better business. But the Chinese Market is very important to them both as a production the venue, but also because im trying to use computers and now youre of the company has perhaps a different opinion. The dean would like trying to play and thats Important Role or the government economy. But the reality is, different. China is just one of the biggest markets in the world and gen companies and the boy be there. And thats the, thats the reality he finds. And that serenity, yes. Website. Okay. Uh, most gone. Do you agree with miss to close that essentially the economic relationship between this well 2nd and 3rd largest economy work from political calculations here. Well, we have to be aware that definitely, you know, we can all make and business interest, you know, just driving shots, visit china. Because as you know, the leaders, she wants to see what is really happening. Right . Because the babys trying to, you know, plays the trombone fancy build some level of market reforms. You know, like reduce negative list. What if the eyes that may be really beneficial, but for the German Companies or even for the european companies. But we need to understand the context of china your relationship today. A lot of things, but to una is about the growing competition is a consensus amount whether you members and the visit actually came after the launch, the, the rescue strategy reduce. They come to pendleton, china, right . And the, we have seen her so many stories and complaints about the ive been practiced at the Chinese Market. You know, the Chinese Government has the advantage, mark you right through the subsidies also through the federal fiscal or in, in financial, you know, support about the or the 2nd little want to highlight is actually, is the structural differences in handling with russia, where ive been during the visit the shot to the extreme point out that no german german is very concerned about chinas engagement with russia. And some of the engagement can actually, you know, um the voltage provide at most to rush items. You did, you are usage of the assistance that china provided, right . And, and, but also china condemned to use the ashes on russia, which also affect the Chinese Companies along the way. I want to highlight, you know, that i dont really things on a matter of things. Good change because the visiting cuz the 2 sides have really felt better idea. Always divide on how to feel inc, dash holder. So these differentiates will continue to, besides, you be called straight. And she mentioned breakthroughs in the bilateral relationship. Ok, theres lots to pick up on the i want to go back to daniel goes with the 1st thing that you talked about, which is the context that this business taking place. Something was already mentioned that you are paying union is, is investigation china, you know, for what it cools. Its all the capacity. Its, its dumping practices. Mr. Goes with jobs. The german chancellor. Stand on this. Does he suppose that you are paid invest the investigations . Well, not right thing, there is some difference of opinion among in your re entry on mondays commission is doing right now. And because the German Automobile producers are doing a very important business in china and a German Automobile as all fields, french and by chinese emboss. And therefore many itd be by your own savings that this investigation of the commission was more french interests and german names. But germany just call them bomb country in the, in europe and your read you again, but it cannot always dictate whats, whats being done. And i think that is the difference all between the or the level and the collection level. Okay. I think were taking that 1000000 euro when we use like towards use our reliance on china. The economic vanity is different. And i think this tension between the politics and the economics is the back problem. This is, and this tension been bugging over a long time. Okay. And as you mentioned, mr. Gloss, you know, we have the ceo of necessities, of b, m, w, just to name a few, talking about how they dont see competition from china. They see opportunities in china. Miss gong, which feels do you see it growing . And im, and how important is that to china . You know, to show that it can do really Good Business and trade, whether you appear in country, in the backdrop of these tensions with the european union. Yes, you are the well, the key areas that both sides will be really, you know, happy to work. Always the great energy. Right . Yes, but we wont really, its definitely because of russian where youre, hes suffering from this adage, crises throughout the years, and theyre going to use that. China is gaining advantages. And also can, you know, some how can you know, a company met with the village, a building in euro. And the thing is that i think the 2 sides, they get actually know things about the 3rd party collaboration, which so many used to be part of it in the back to really the shape. It doesnt have to be brand new to felt. Theyre really new shaking, but they can call, you know, they can think of the plan that theyre marking that thats the south east asia. Lets say, you know, indonesia, were trying to get capitalized on jerome is get apology and also the inmates in terms of building the great technology. Yup, im glad you both have certain markets because i want to bring daniel growth in here on a fascinating article that you wrote about frayed restrictions and about how, you know trade restrictions such as tower such as the ones that we would want on trump put on china dont actually reduce the amount of trade, they just re directed. And thats exactly what we also have a ran. The us does not allow of a cost, for example, the problem then the, the, your being, the produces that have a good amount paid for themselves in the United States and enjoying the export more to your. So maam you have the same thing also in asia where and the chinese change their immediate whats to my asia, and then my laser puts things together and chip small phones, then go to the us. So this by natural tree, these by natural trade winds investigations built in the us and china backs into the benefit of us, like by the now, but also like you. And thats why id say euro doesnt really have to take a stance on this particular issue. And can just uh, b, this website and the more reasonable and certainly more reasonable than United States. Okay. Does last the mysql and let me put this to you with the us selection coming up later. This. Yeah. How do you think china and the you and germany, how they look and get their relationship and life of what might be coming out of the us later this year . Oh, i think there are a lot of a lot of things are going, but why dont these very unclear in terms of how we perceive china, you know, whether its a market economy rate, thats something that china wants to be recognized throughout the years, especially from the european culture barge, but with the fundamentals you 1st is that, imagine previously, you know, about ideology, but divide about, you know, how to play the much the role and also about the, you know, the perceptions of russia. I dont think that, you know, the 2 sides will be, will be still continue to ramble width of issues that were in front of them. But up there. But as you know, joe man has started a very good example in terms of how to, you know, stretch out despite the, you know, called string space, how to keep the conversation open and how to, you know, make you try to understand the causes and try to work these out is something that i think the regional partners should have a close eye on share going and so in a pull and daniel gross and milan, italy, thank you both very much for your time. Thank you. Or the nigeria as advocates, largest or produce a, gets the nations economy, is in crisis. Inflation is welcoming Foreign Exchange is in short supply and Corporate Giants leaving the country. 40 percent of nigeria as population now lives in poverty, president bullet to know who took office last 2 has moved or the whole the economy and attract investment. But all his meshes working will you get to enter that with i guess shortly. But 1st, lets have a look at whats being done to turn things around when to be assumed power loss may nigeria was spending almost all of its revenues on service and debt, or which nation had barely any money to pay for anything else. So his 1st measure was to scrap popular fuel subsidies that will cost through the country around 10000000000. 00 a year. The president has also loosened controls over the currency in a bit to unify the official and unofficial exchange rates. As you can see here, the nora was the valued in june, and in february it had lost almost 70 percent of its value by march. But now the myra has been labeled the best performing currency in the world after a strong rebounded march and april. Its back below 1200. 00 to the dollar off the central Bank IncreasedInterest Rates to almost 25 percent, making it more attractive to keep savings in the niagara. These reforms have been very taxing somebodys uva, as population. Inflation is at the highest level in almost 3 decades. The price of rise has doubled in the past due. Well, petro price jump, 3. 00 falls, and all this is putting pressure on to boost government to prove the reforms will eventually end the economic pain. So lets get stuck into this with gospel or ben a. Hes an economist, the straightened all next steps and nigerian think tank. Thank you for your time mr. Obey. So the nava is rebounding but the current country is bending to the Foreign Exchange reserves at a rate not seen in 4 years. Can you explain the connection and if its a concern, ah, yes, thats to say that there is a Software Issue thats a gaming because for the generation enough for an extend receipts. But unity from the all around ex paul as the case may be. As a result, there was a constraint around how much of the supply or something it was the nature and economy to be, which would mean its consistent being create that verizon, you know, looks like the font for the exchange. And thats really been to chatting for a long time and again, talking to you folks out with not so much of a bank, i just went to the production station. The gentle cloud productions got to be the export, the capabilities to, to reach the more probably next january 6th. So that supply gap is why you also the private sector bank trying to results to each was asked to fund most of it. So should i say short term based reforms from see more recently. Yeah, im, im glad you said you, you quoted them short to reform. So if you look at, you know, we keep saying that my gerry is africas largest oil producer. Yeah. That actually imports most of the petrol that it uses as the country looking at longer to resolutions, to the long standing economic problems. Yes, the country is, but i think its a case of number one. Theres a growth funder as to make some of the efforts, investments, and behavioral and cultural change that needs to happen in the state or country. The most affordable part of progress about strategy. Also given the fact that it was a weekly decal view in context, although what recently the Crime Fighting restriction made by the crap example im actually washington. Somebody took me to a multi school. But again for the sufficient between gosh to the level of change. Ok. Brussel prospect that needs to happen. What are the, what are the behavior and the cultural changes that you think need to happen . You know, nigeria has been beset with corruption, for example, for so many years. Well, what do you mean . Youll be able to change my own context would be leaving from, you know, from a ground up to 3 kind of approach, right back with a reflective on some of my tional local levels, uninsured government forms i refreshing of what the people need appointment time and how bucket full, shes also lead for you to push one of those reports. I did the review of this policy. Paragraphs take photos of the construct. Stop progress was a necessary condition to be able to set up the lead relief points for the insurance. Recently, strategically such as the, except for logs like dimensions, those sort of piled key sites of the local economy and also inquiry long all say to operate on those sector image settings to set up for you next steps. You know, theres so many men join to be expert ready, but they dont have the product thats walks us the market. Itll probably teach to to, to do more. We do that across for this. Hopefully the call dropped on bureau changes like around eastern tional support the dimensions of logic thing. Yeah, i was just calling just as a how do you enable that . You know that financial support, that investment and what role the Foreign Investment have to play . I mean, fall and capital has really fled to nigeria in the past few months. Yes its, its quite disheartening. This is like a link to the for, you know, a Business Environment to logics. Its, well see many of the major african nations rather whats attractive or the best place i think is maybe so we need to, 1st and foremost when i do i meet with these less functional charlie. And these are, i just structure each drop highlight the shuttle. But to any security, you know, on all of that, i dont have the ease of doing business, you know, contracts regulations, but to make some of these things and even the Business Environment itself. All right, so that needs to be fixed, long valley is fixed with a very strong coordinates you 5 thats supposed to be matter of car is between. If you splendid when it should be, its gonna be a lot more easier for us to sort of people find a possibly to watch plus 35. 00 if you need. Someti