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"gemini bay" Discussed on Monocle 24: The Monocle Daily
"Now, it's been a great female. So the Chinese economy will be the trade, what would the US and the rows of qua-, and we'll talk more about that later on tonight's program. But it's not all bad news. China is increasingly ambitious exporter to countries that used to see the trade going in the opposite direction that is creating all kinds of problems for countries like Germany to explain what I'm joined by Sarah fouled, who's an international economy analyst at Oxford Analytica, Sarah, Germany, and the PawSox has done very well selling to China. But now the trade is starting to flow the other way. That's right. Yes. In this two reasons for this China has been moving into high avowedly segments. So it's making more at self of what it used to buy from countries such Germany, and then the Chinese economy is also slowing so it's buying list generally from the rest of the world to going on that of course, the economic problems in in Germany the rate of growth in the German economy. According to the most recent full concerts, slowing quite sharply. So anything that suggests that the export market is going to shrink for them is another problem. They don't need. That's right. Yes. And they have problem because they. Behind the US and China in a number of need technologies. Areas such as official intelligence and blockchain than us five years more than half of the investment offficial intelligence across the world was in China. So Jimmy is playing catch up in some areas like that that it needs to improve its competitiveness in to raise its exports in those areas, there's a sense from some people speak to that China is just a bit more nimble a bit more innovative foster moving than some older established economies and manufacturers like the ones you see in Germany. Yes. Well, the European Union investment in innovation has to be split between the twenty-seven countries sin this been no single state with the fundamental. It'll drive the research. So all talk temp top tech companies the so-called fangs a rule US. There's no European FANG. That definitely playing catch up. But there are ways the they can catch up, and that the German government is planning to invest three billion euros in offficial intelligence in the next five years or so so they all definitely setting policies. Much more today less now. How confident would Gemini bay of being able to keep pace with China though? I think it's certain services sector sectors. It still has a big advantage. It's much much more stab listed runs a huge surplus. And with the US administration currently being anti climate change on these kind of things. Climate change is an area where actually Germany and China have been quite good allies over the last couple of years signal quite a few areas, whether they are cooperating one on if they need to start talking about the moment, let's have more access to each of us financial sector load of services sectors that they can get me to a benefit out of working together and Sarah. Thank you, very much, sir. Follow is from Oxford Analytica. You're listening to the daily from multiple twenty four. Now. One of North Korea's top negotiators is heading for Washington, Kim Jung. Charlie's reportedly carrying a letter from the North Korean leader, Kim Yong gun for Donald Trump. That has added to the speculation that a second summit between the two men could be close when ideological Thomas would spec. Deduct John Nelson, right who is a senior lecturer in modern Japan at Cambridge University. He started by asking if these latest talks are cultural pluralism, the big issue that I think is focusing people's minds is the possibility that this meeting is preparation for the much-anticipated second summit between President Trump and his North Korean counterpart. There's been a lot of reporting from South Korea suggesting that community to all learning meet secretary of state pump Pompeo on Friday. But also that he will meet President Trump at the White House that would be a significant development. We know that the North Korean leader. In his news address had made it clear that he wanted a change of attitude on the part of the Americans Donald Trump himself, of course, as being signaling recently that a second some of meeting is potentially on the cards..