A series of the great philosophers to all present and future enlightenment says progresses in our hands and that news. So its really, its up to us out series project enlightenment starts october 5th on d, w. The, the weaker chinese economy could drag down growth in parts of the world. A new report from a global lender is the latest warning that economy is looking for a covering. Well need to reckon with china. Also on our show, huawei stay silent on the details of this new phone and the power of the processing ship behind it. Hello and welcome to our show. Im seeking beardsley in berlin. And we begin with china is struggling Property Market and the risk it poses 2 economies around the world. A new report by the European Bank for reconstruction and development, suggesting that economies from europe to asia, the region in which the bank is active, could see is slow down due to china. The bank is forecasting a return to higher Economic Growth in 2024. In the region, following the current period of High Energy Prices and inflation, a chinese construction boom was fueled in part by growing household debt, with many chinese now tightening their belt imports in the nation are weakening. The out to your project is chief economist for the European Bank for reconstruction and development. The author, welcome back to the show. This region stretches from Central Europe to central asia. I want to begin by asking how important is trade with china for these economies . Well, this economies just like the rest of the world in port a lot of from china, Central Asian countries, also exports commodities to china. But not tubal development is related to russia. S, european and american exports to russia dropped dramatically after the war started. China has stepped in and increased its sales to russia, in particular, is replacing some of the products that are subjects to europeans function. Or to come back to that in just a moment. But when i go back to china and ask the property crisis that weve been seeing for more than a year, now, what does it mean for this region . Well, the question everybody is asking is whether this property crisis will translate into lower growth structurally. So are we going to see Slower Growth in china into years to come . And if thats the case, that means lower demand for commodities exported by Central Asian countries. But also it will have impact on all other economies through the chinese, the meant for, for oil, which translates into higher or lower oh process as your report. Also notes that more countries are importing goods from china in the chinese currency the when. Why is that significant . So in our study that we have just published today, we analyze the cars that are used in russian imports. And whats very notable is that while a few years ago, only about 10 percent of chinese export. Still russia whered denominated in you won by now its almost 2 thirds of chinese export. Moreover, certain countries are denominating their exports to russia in chinese currency. Thats a new development. So if you think about the dominance of the us dollar, it has made it easier to impose functions on russia. But the fact that the sanctions have cost of russia from the swift system means that in the long term, there may be some, the erosion of this dillman. This of the us dollar s countries are turning to other currencies. This geo political tussle, whether its over the dollar or specific trade partners that has to be very important for this region. I would imagine there was one part of your report where you talk about the significance of europes competition with china when it comes to e. V. Cars having an effect on slovakia and hungry, i would imagine are we going to see this area be more and more affected as these 2 sort of poles . A comp id have more competition with one another to Central Europe is very dependent on the automotive industry. Slovakia is the largest producer of cars in per capita terms in the world. So these countries will now have to make a switch from producing Combustion Engine cars to producing electric vehicles. And for that, whats needed is access for ethical minerals. And a lot of these Critical Minerals production and the reserves are controlled by china. And what we saw in the last 2 years is an increase in restrictions, exports restrictions on Critical Minerals, globally, 30 percent of exports, of touch minerals are, theres some restrictions, right . Thats be up to you for chick. Shes the chief economist for the European Bank for reconstruction and Development Beyond to thank you very much. Over to indonesia, now a country thats rich in coal, but with plans to face out of the fossil fuel. But that transition is proving difficult despite the 20000000000. 00 plan in place. But the money hasnt been so easy to find on the one side. And on the other, theres still a lot tying the country to call from nuclear exports to jobs. Of indonesia is cold, rich with most of its heading for export, but the country is also paying the price with poor quality as the black stuff feeds nearly 80 percent of its domestic electricity generation. Last year, industrial nations promised into the 0 around 20000000000. 00 in Financial Aid to help ditch coal. But as disagreement within the country about how to shut down power plants and manage the costs, as well as how to limit emissions. Big about that, but we must proceed at least to demonstrate that this concept you can work and serve as a model to accelerate, to achieving that 0 by 2015. By the way, we model the project known as just energy transition. Partnership has full runners. In other countries like south africa or in vietnam, expectations a high but implementing the transition is an easy engine, easier relies heavily on coal fired power plants with hundreds of thousands of jobs directly linked to the coal Mining Industry and millions more in directly. The sector is also a major Revenue Source for the state. Government needs to step out of the buildings thats only for the workers, but also the governments for them to find another way to increase the income, not from the coal activities, but from either. For example, either they dont send induct please. The coal sector in indonesia is still growing and demand is on the rise. The country would be reliant on energy imports. Without it, theres a long road ahead. The transition to clean energy here is just getting started. Lets go now to some of the other Global Business stories making headlines. The hollywood riders ended there nearly 5 months long strike after reaching a deal with studio bosses. The Writers Guild of america says, Union Leaders voted unanimously to lift their stock work order numbers will now vote on whether to approve a 3 year deal that offers pay raises and protections around the use of artificial intelligence. In films and tv shows Crypto Currency Exchange platform finance is selling. Its russian business to industry. New commer. Com x says operating in the country is not compatible with its Compliance Strategy while attempting to reassure russian users that their assets remain safe. Finance did not disclose the financial details of the deal. Us regulators have sued amazon, alleging the internet giant is illegally maintaining monopoly power. Amazon is accused of forcing sellers to use its own logistics and delivery services. In exchange for prominent placement on the platform, amazon is allegedly penalize and sellers who offer their products lower prices on competing websites. Amazon denies the claims Chinese Telecom giant huawei remain silent on the processor powering its new smartphone during the high profile event on monday. And despite rapid speculation, its an advanced chip capable of 5 g, or the phone. The mate, 60 pro, has become a symbol of the tech rivalry between the us and china. Since its released several weeks ago. Its remarkable download speeds indicate it has in advance Semi Conductor chip inside tech. Inside theres hope that huawei would give a few more details on the specs during an unrelated product punch on monday. I would have those on hon in our type a bureau. So huawei promised this big leap in the chip design for his new smartphone. But since that announcement, its been very quiet. Whats going on . As yeah, steve, us, its very weird, right . There were more than 100. So Media Outlets dream the hallways press conference on live with 98000000 viewers watching it, but there was no mention about its new phone or the new chip. It disappointed many people, but its not a surprise. The hallway still trying to stay out of the live live because there are still discussions about how this changed company bypass you essentials to acquire Cutting Edge Technology to innovate its way out of these constructs. And washington may come up with more sentients in the future at the same time, always progress maybe short lived because trying to cannot produce of as ships on the large scale without the new Technology Like the t as empties. So be low key is probably the best way for hallway to do right now. Help us exactly understand what is so unusual about this chip. Well, as i said, the chip using follies, new phone involved technology that the us wants to block china from acquiring through stations. While we of course doesnt want to talk about the details. We have to know s m, i c, which produced the chip for hallway. This time used to make only 14, not all meter chips, and this time they are able to supply 7, not only their chips, which is a mission impossible, without anyone leaking advanced technology, a semiconductor of equipment. They are rumors that the new chip maybe copy of a t s. M cs, suggesting that the Technology Link came from taiwan or the supplier of the equipment to make the chip is the Dodge Company as well. So its not certain if there was a problem with the us controls. So all these discussions make the chip very unusual. And so where can we expect to see this go in the coming months as well . 3 weeks after, while we launch as new phone iphone 15 with launching china. The competition between the 2 is heat enough. Right now, apple is clearly one, the 1st round and its federal without hallway. If you look at the sales rank, but we have to wait until the next quarter or even a year before we have the sales segers to decide who the winner is. And always next step in the Global Technology race is to not only make cellphones but to build a solid computer power and the speed to satisfy diverse a i or with kinetic needs in various industries, hallways ready to go into areas including smart car plus Family Business and the future of the entire environment of the digital system. It wants to connect them all and well see if they can make it right. So its on hot and type a. Thank you. And whos reminder of our top business story . A dear pain bank for reconstruction and development, says economies from europe to asia region in which the bank is active. Quincy is slow down due to china. The bank is forecasting every turn to higher Economic Growth in 2024 in the region. After the current period of High Energy Prices and inflation, china is construction, boom, was fueled in part by growing household. Thats right, thats it for me. And the dw, the team find out more online the w dot com slash business. Thanks for watching the a special edition of complex zone with tim sebastian. This is a Border Crossing point from moldova into ukraine, severest fight, the con moment between ukraine and russia, is roughly a 100 kilometers away. The big question dominates here is where the mo data is this, the next target conflict. The next on d, w gets majesty is breathtaking. The mika, lifeline for Southeast Asia on its banks. Fertile rice, passengers feeding millions and splendid buddhist samples, mesmerizing tourists. Witness a fascinating journey of discovery on the me con, through los in 45 minutes on d. W. These places in europe smashing the rank one step into a bold adventure. The treasure map for martin globetrotters describe it as some of us wrinkled, begging sites on youtube. And also the a good peaceful as h a p is. Most of us sits right next door to ukraine and the searing, devastating conflict with no end in sight. Since february last year, the country of just 2 and a half 1000000 has been under a state of emergency wherever the fighting might spread to its own territory. By actually