Protect the climate boost Clean Energy Solutions and reforestation. Losing interactive content to inspire people to take action. Gives the series of global 3000 on t. W. Place. A global trade emergency and biggest prices in the history of the World Trade Organization. Arbitration system collapses in disarray after u. S. Pressure hollows out. Also on the program while Prime Minister collect his Nobel Peace Prize and the countrys poorest workers are still waiting for reforms of labor we have an exclusive report from the frontlines of the extreme need. Im chris cuomo welcome to the program as if global trade wasnt under enough pressure its now losing its ultimate empire the World Trade Organization will no longer be able to deliver a final trade dispute ruling starting on wednesday the bodys chief says this after Member States failed to solve a dispute over the way that cases have been handled successive u. S. Administrations have blocked the appointment of new judges to the w t os now effectively crippled Appellate Court critics fear that world trade is now facing the law of the jungle the World Trade Organization is facing its biggest crisis since it was founded a quarter century ago director general Roberto Azevedo had hoped to resolve the impasse but instead the organisation can no longer deliver rulings on trade disputes because washington has blocked the appointment of new judges to its Appellate Panel the panel was made up of 7 judges for whose terms of expired have not been replaced because of the United States has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court will no longer be able to issue rulings. As a result there will no longer be an independent body to intervene in trade conflicts the stronger side will probably prevail Roberto Azevedo wants to turn the crisis into an opportunity. On tuesday he insists that the w t o had to be reformed without this sense of crisis there would probably be an accommodation and members would not be so very inclined to change things and to change the system make the system more responsive to the changes that we see out there now one example is the treatment of china which is given preferential status as a developing country many analysts not just the us say thats wrong. The dealings between the w t o and china sometimes still affected by the routes that came into place a while ago when china was a smaller country the u. S. Basically warns china to play by different routes now International Trade has to cope with even more uncertainty instead of the w. T. Playing the role of empire washington will be able to get its way the United States mexico and canada have signed a deal finalizing their new trade agreement after more than 2 years of arduous negotiations paving the way to ratification of the u. S. M. C. A. Raymond replaces the clinton era nafta deal which president trumped didst when he took office blaming it for the loss of millions of us jobs agreement was close to your goal but democrats controlling the u. S. House of representatives insisted on major changes to labor and Environmental Enforcement before ratifying the deal. Lets cross over to court in our man on wall street yes this Corporate America relieved that this deal is signed now. It clearly it is better to have a deal or an agreement then having no agreement because that does cause some uncertainty and is difficult for companies to make Investment Decisions especially for the real and also the cultural sector but if we look at us and see the us mexico canada trade agreement the question is really so much changes from the original. Well the u. S. M. C. A. Has a different name and u. S. President donald trump can claim victory because he called enough to the worst trade agreement in American History so there is a bit of a relief even if they had not did not really show in the stock market here on tuesday and yes while the u. S. Mexico and canada are trying to improve their trade relations the u. S. Storing the World Trade Organization into disarray. Well but there has been a lot of criticism in regards to the World Trade Organization not just under president. But also under the Obama Administration what the United States is basically looking for is not treating china especially in a different way but the same way as the United States and also a lot of a European Countries are getting treated china does not have to follow the same rules even as it is the 2nd biggest im. In the world so obviously change is important but as i said we already had other president s who did not replace the judges necessary saw the whole thing may be escalated under u. S. President donald trump but it clearly did not start with this administration has scored in new york thank you. And now to some of the other Global Business stories making the news a u. S. Judge has ruled in favor of us all a giant exxon mobile saying there was no evidence investors were misled about the true cost of addressing Climate Change the company was accused of causing investors a total of 1600000000. 00 in losses by using inappropriate accounting methods Saudi Arabia Central Bank governor says the country is ready for any liquidity squeeze after saudi aramco shares begin trading on wednesday local banks are being monitored after heavy demand for loans to buy the stock around coles listing on the Riyadh Stock Exchange is the Worlds Largest on record at over 25 and a half 1000000000. 00 Budget Airline ryanair c. E. O. Michael oleary has described the use Single European Sky Initiative as a lamentable joke the initiative seeks to reform the europes air Traffic Management system to minimize environmental damage mr larry argued vehemently against the taxation of a traffic claiming it represents only 2 percent of c o 2 emissions. Since taking power in 2018 ethiopian Prime Minister abi ahmed has implemented sweeping political reforms that have won praise and the Nobel Peace Prize which he collected on tuesday ethiopias economy is also going from strength to strength but a lot remains to be done because Foreign Investors are mainly attracted to ethiopia by the incredibly cheap wages their Companies Say they are in breaking the law and support efforts for a minimum living wage in the country but in the meantime despite setting up shiny new textile factories they are profiting from very low wages some workers earn as little as one euro per day. The ethiopian economy is booming and with this the countrys textile industry Industrial Parks boast flagship factories their clean and well lists but i things really as good as they look one of the big pulls for Foreign Companies are the low wages in bangladesh the minimum wage is around 85. 00 euros per month while in ethiopia its just 23. 00 euros. Is that enough to live on back in june German Television reported on the lives of textile workers here. Is accompanied them to their homes tiny huts in a slum. The women wanted to remain anonymous. They worked in 2 different factories making clothes for h. And m. Among others then a week ago we visited the women again and asked if anything had changed. Do you know i was earning 23 year 0 month as my basic wage and 6 euros on top because of my extra skills then they said theyd raise my salary but they just added it together i now and 29 euros is a basic wage but nothing for my extra skills nothing has changed. The women have moved huts and now have a batch they still rely on their parents to get by a friend has been promoted to an hour and 55. 00 euros a month its still not enough. I was hoping my life would change but since i started at the factory 4 years ago things have stayed the same its tough. We also spoke to each and now they confirm to that the lowest monthly wage is 26. 00 around 23. 00 euros we agree that wages are too low it is our vision that every textile worker should earn a living wage they set for supporting a study into what a legal minimum wage could be one woman says theres been one positive development. Change one thing over time is now voluntary students can now attend their courses at university thats why. Theres not much else to celebrate though seems to says and activists tell us that the work is pressurised and intimidation and insults are commonplace so any theo p s textile sector theres still much room for improvement. And finally for something a little bit more upbeat with 2 weeks to go until Christmas Morning the christmas beer season is in full swing and then mark there are more beers on offer than ever before 90 new varieties of your are on sale this year you know brewed has become hugely popular over the last decades in denmark the christmas beer is much stronger than regular beer and is only available in november and december. The 400 different Christmas Beers competing and more. And i recommend you dont try any of them on an empty stomach thats a show im 1st thanks for watching see the back of. The for. Africa. A young education in nairobi is fighting for the environment. The artificial hair she uses is made from the plant something so instead of plastic. She cultivates the plant herself. Being eco friendly benefits eco comfort go next. To murs around the world are in a shopping frenzy. Online sales are in the run up to christmas. Retailers change and our culture the follow the same is mostly the feeling of rejection can be encouraged. Me. In germany 60. Was the speech of his life perhaps his best certainly his most difficult. The speech by calling dresden on december 19th 1989. Shortly after the fall of the chancellor addresses the people of east germany in the mideast tense the crowd clamors for german unity journalist peter lim bloke who was at the scene. 30 years later looks back on the. Interest and starts december 19th t w. Hello from kampala welcome to the latest edition of our Environmental Program off wicca a Coal Production d. W. In germany n. T. V. In uganda and so most t. V. In nigeria i am sundered to know go on to the next will be pumped full of interesting stories on good ideas my lovely colleague from nigeria
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