Installation. The world is nowhere near which even be Sustainable Development goals. By 2013, we speak to the president of the join General Assembly about his call to action. China is germanys biggest trade partner bought. Berlin also sees badging 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 is closest allies. The e. U has not several investigations into exports of chinese Green Technology to protect your pin industry from what it sees as unfair competition. The mutual method, dancler reports on whats at stake for schultz. 3 days in china for chancellor overlook, schultz and his entourage of the top chief executives from leading jim and companies thats despite the German Government announced strategy to reduce risk of becoming too dependent on china serializing buying. Would you change it back in china, in germany, or the 2nd and 3rd largest economies in the world and the significance of consolidating and developing sino jem and relations transcends the scope of bilateral relations. It has an important impact on the u. Ration content and, and even the entire world. China is germanys number one trading partner giant german, im 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 as a 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 acts 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 the one with the on the primary goal with the business must be to make profits. The Chinese Market contributes to fluids of Global Electric vehicle sales. So the Chinese Market is indispensable to the gym and call companies, and they also, i bill patronize the through germanys chinese partners c schultz has 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. Continue to expand some of the areas country. Maybe not enough cooperation will not be enough german business presidency in china, such as agriculture, fluid, around a 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 spots 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 them, it didnt go 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 book, one of university and an advisor to the european parliament. Im from sonia 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 is markets for foreign funds. I think one of shauns wanted to see reality and the energy is driving across to business in china. They complain because they might be doing even better business. The Chinese Market is very important to them all as a production the venue. But also because im trying to use competitors. So now if youre in the body to godaddy has perhaps a different opinion. The dean would like trying to play investment ball rolling on the determine the economy. But the reality is different and china is just one of the biggest markets in the world and generally companies, and that theyre going to be there. And thats the, thats the relative to the fines and that serenity. Yes. Website. Okay. Uh, lets go on. Do you agree with mr. Gross, 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 shop, visit china, because as you know, the leaders, he wants to see what is really happening, right . Because the bench is trying to, you know, plays, travel fancy build some level of market reforms. You know, like reduce nephew placed with 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 religious have to be a lot of things, but the unit is about the growing competition is a consensus amount with the you members and the visit actually came after the launch, the, the rescue strategy reduce. They kind of depend on some china, right . And we have seen her so many stories and complaints about the ive been practiced at the Chinese Market. You know, where the Chinese Government has the advantage, mark you, right through the subsidies also through the federal fiscal or in, in financial, you know, support on by the or the 2nd little want to highlight is actually, is the structural differences in handling with russia, where i think during the visit, the shifter, the extra 20 doubt 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 use the edge of the assist as did 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 think on the other things would change because the visiting cuz the 2 sides have really felt a better idea. Always divide on how to feel inc, dash holder. So these different as usual, continue to, besides you, because straight achievement and 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 of this business taking place. Something was already mentioned that you are paying union is, is investigation china, you know, for what it cools. Its always the capacity. Its, its dumpling practices. Mr. Goes with jobs. The german chancellor stand on this. Does he suppose that you are paid invest . The investigations will not the right thing. There is some difference of opinion among in your re batteries on monday, which is the wing right now. And because the German Automobile producers are doing a very important business in china and a German Automobile has also not feud strengthened by chinese impulse. And therefore many itd be by your own savings that this investigation of the commission was more french interests. And then german names, but germany is across the country in europe and youll read you again, but it cannot always dictate whats, whats being done. And i think that is the difference between the or the level and the collection level. Okay. Particularly when youre wanting to use like towards use our reliance on china. The economic vanity is different. And i think this tension between politics and the economics is the bank problem. This is and this tension been looking for a long time. Okay. And as you mentioned, missed a goal, as you know, we have the ceo of necessities of b and 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, and, and how important is that to china . You know, to show that it can do really Good Business and trade, whether you will be in country, in the backdrop of these tensions with the european union. You are the well, the key areas that both buyers will be really, you know, happy to work only is the great energy, right . Yes, but we wont really, its definitely because of russian where youre suffering from this adage, crises throughout the years, and theyre going to use that. China is gaining the bomb pages and also can, you know, some how can you know, a company met with the bill of the 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 about to really the shape of it doesnt have to be brand new and about to really new shading but they can call, you know, they can think of the plans that theyre marketing, thats the southeast asia, lets say, you know, indonesia, we are trying to get capitalized on jo minutes, get biology and also the good image 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 towers, such as the ones that we saw. Donald trump put on china dont actually reduce the amount of trade, they just redirect it. And thats exactly what the old serving ran. The us does not allow involved. So the cost, for example, problem china, then the, the, your being, the, produces the market for themselves in the united states. And then showing the export more to your. So maam you have the same thing also in asia where and the chinese change their to me it works to my asia, and then my laser puts things together and chip small calls, then go to the us. So this by natural tree, these by natural trade, which invest ations bits in the us and china, back into the benefit of us life by the idea now. But also thank you and the website 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. Just lost a missed call and let me put this to you, but the us selection coming up lisa, this yeah. How do you think china and the you and germany, how they look and get their relationship in life of it might be coming out of the us laser this. Yeah. Oh, i think there are a lot of a lot of things are going on. 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 parts. But with the fundamental view 1st has been imagined previously, you know, about the article divide about, you know, how to play the much the role and also about the, you know, the perceptions of russia. I dont thing that, you know, the 2 sides will be, will be still continue to bramble width of issues that were in front of them. But up there. But as you know, german has been a very good example in terms of how to, you know, stretch out despite the, you know, constrain 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, but this 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. The nigeria as africas largest oil producer, yet the nations economy is in crisis. Inflation is rocketing, Foreign Exchange is in short supply and Corporate Giants leaving the country. 40 percent of nigeria as population now lives in poverty, president for lot to knew who took office last 2 has moved or the whole the economy and attract investment. But all has meshes working with you guys to enter that with, i guess shortly. But 1st, lets have a look at whats being done to turn things around. When to 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 to 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. Of these reforms have been very taxing somebodys u. V. As population, inflation is at the highest level in almost 3 decades. The price of rise has doubled in the past year. Well, petro price jump 3. 00 folds and all this is pushing pressure on to boost government to prove the reforms will eventually end the economic pain. 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 as to obey. So the nava is rebounding but the co country is branding 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 was a Software Issue thats a gaming because for the generation enough for me to extend receipts, but really from the export of the case, the b. As a result, there was a constraint around how much of the supply. Ready it was, and i to an economy to be able to meet. Its consistent, being create the verizon, you know, look forward to want for the exchange and back sweetie. Be just chatting for a long time. And again, were not so much of a bank. I just went to the production station, it sends oclock productions got to be tease on export the capabilities to, to reach the more probably next january 6th. So that supply gap is why you also private sector, but im trying to results. So we choose as to fund most of it. So should i say short term based reforms. Dont see more recently. Yeah, im, im glad you said, oh you, youre quoting them, short to reforms. 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 term resolutions to the long standing economic problems. Yes, the country is, but i think its a case of number one. Theres a growth under estimation of the f one, investments behavioral and cultural change that needs to happen in the state or country, the most affordable part of progress and pass strategy. Also given the fact that there was a weekly decal window in context, although what recently the crime doesnt restrict you on 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 to wrestle perspective 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 as 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 National Local levels, uninsured government forms i refreshing of what the people need appointment time and how much actual shes also lead to see if the percent of those reports i did the review of this policy paragraphs. 645 across truck stop program was a necessary condition to be able to set up the lead relief points for the insurance. Recently, strategic on these subjects to log slide dimensions, those sort of power piece. I talked to the local economy and also inquiry long, all state trumpet, dumbbells sector image settings, to setup for you ex. Thats, you know, theres so many men join because of the export ready, but they dont have the product that will access the market. Itll probably teach to, to, to do more with the amount of cost for this calculate the, because im going to be able to choose like, around each Additional Support the dimensions of logic thing. Yeah, i was just going to say, so 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. I just would like to a link to the for, you know, a Business Environment. Your logic states will see many of the major african nations rather what, what attracted already, bracelets of the case may be. So we need to, 1st and foremost, when i do i meet with these last functional charlie. And these are, i just talk to each other. Im highlighted with something, but to any security, you know, on all of that. I dont think 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 as long as that is fixed with a very strong coordinates you 5 thats supposed to be mapped out according to the, to the few splendid when it should be. Its going to be a lot more easier for us to sort of people find a possibly. So whats the strategy review as long as i can strengthen the local crazy for local businesses. Okay, and what about the local people . Do you see that the changes that have been made will in fact benefits nigerians themselves . I dont think the changes will really benefit and then get into the short term. And thats because there was a degree custom meeting crisis and the argument jen is going for a for a close, low cost of confidence reaching