And how these police can be changed. The stop filming us, a plea for new perspectives, thoughts, october trends with us on dw, the the china prepared to host a Major International forum against a backdrop of geopolitical tension. Leaders from around the world have gone to arrive in beijing for the belt on road foreign among those attending russian president. Vladimir, please also coming up kind of a new airport, reversed the fortunes of combo diaz, a link Tourism Industry. This is dw business on k ferguson. The thanks for joining me. Its 10 years since china launched its mazda of Global Infrastructure projects. The belt underwrote initiative. This week, representatives from more than a 100 countries are gathering invasion to discuss a scheme which has seen china land billions of dollars to poor nations, often with strict repayment the condition of the test. The initiative widely seen as a way for facing to a surface geopolitical mice comes against the backdrop of the devastation conflict in israel, as well as russias ongoing war in ukraine. And among those attending this forum is russian president vladimir putin. This would be his 1st visit to a major global power since the beginning of the war and ukraine. In recent months, relations between china and russia have grown in importance with beijing refusing to condemn hootons war. The 2 countries united in their struggle to combat what they perceive of western dominance. Thats taking this now to have put and defended china from accusations that is using the belt and road project to cement its own geo political mice. Museum still . Yes, we see that some people consider it an attempt by the peoples republic of china to put someone on nights come, but we see it otherwise what we see just a desire for cooperation. You know, our own ideas on the development of the, your region, economic union, for example, on the construction of a great how youll raise out so by fully coincide with the chinese ideas proposed within the framework of the bells and wrote initiative that i can force, i can put earlier, i spoke to china unless the fraser highly i began by asking him how significant appearance of this for him will be i think its all very significant. Theyre very much. Ready is china and rosa plumbing its know is that the waste and full china talks about neutrality on a peaceful solution. It clearly is supporting rocks or maybe not directly with arms. The device side of the whole structure of the business continues and in fact directions become more dependent on china so that i think it sends that right poor signal for exciting as role in the world that are made as light the car guards are bit on its basically ushering and theres a period of disorder, not a multiple or role that repeated of disorder. Were basically, countries like russia are, didnt have this advantage prism and youll know that china basically has their back. So to some extent, this is a mutually dependent relationship. Where would you say the balance of power as though its very difficult to say, i think everything starts by rush. Youre becoming a boss of the state of china. But the trouble is, im not sure how much a power train has to really influence russia. I think it was taken completely off guard by the ukraine, univision and as president had given them the heads up. I think they, they completely misunderstood what they were being told or pretend just didnt understand. Of course what he was getting into. So it said you think china has the drive and see because its keeping the environment economy afloat. But i think its farmer, problematic than that because countries like russia and i think youll see probably with iran and north korea as well. Other countries, the china is very close to are just going to continue to cause problems and the local regions ritual have problems globally. And china is able to do very little. And so it struggles and it talks about neutrality and everyone should be nice of each other and start fighting. But the reality is that china is so not facilitated, but certainly is doing very little to, to rain. And some of these are old actors. So lets look at a concrete issue and i put and then see are reportedly punished. Talk about the idea of suffering death in national currencies. How significant to move would that be for the belt and road more generally . Um, this is always difficult to know ultimately who the hell wants to take your rubles, you know, its all were all talking direct satellite, your local courtesy. So the man who of these countries of per week turns these because the political in financial infrastructure is so cool, or even sampling. And raymond b um the trouble that, of course is the china is restrict that may be as a restrictive currency. Its only basically used to buy things from china, which is fine, but basically becomes almost like a box or farmer relationship between the 2 countries. China, of course, the highest restrictive use of the b literally for 30 years. And certainly the currency is under use relative to size of the economy. But this isnt a threat to the dollar and the systems are operating very differently. Um, i think the americans need to be careful that they dont weigh price to dollar too much. I think one of the great strengths is that everybody uses that and everybody wants to use it. I think actually argentina is a better example, which is again, a balance of doing the partner has large support lines. I am between the argentina and china. And yet the in the one of the leading politicians, were just calling for dollarization. And indeed the want to spend the rest of the day because they dont want to spend their us dollars. So theres still a lot of work in distance to go before china is any way. Its threatening the dollar and the current Financial Arrangements a decade on how close is the belt on road today at to what china originally envisioned . Well, i think thats the problem. Im not sure they didnt put their shares themselves spot, the invasion that we talked about, the change it on of asked or, and this is, this is always putting up a substance due after the fact the cause of course, 10 years ago, it wasnt the Bell Initiative it was called one belt one road, and even before that, it was really in a volleyball list of projects that china had be developing across the what was generally seen as the global side. Im trying to so many global as you political relations and trades relationships. So its, i think, to call it a diet a project as if this was some great plan to try and hes, i almost gives it too much too much credibility. It was much more a hodge podge of Different Things coming together under basically a marketing brand that was china unless phrase or how we there. And you can watch my entire conversation with him about china is spelled and wrote initiative on the doping. Use youtube 9 to some of the other Global Business stories making news. The former bank of china chairman new young has been arrested on suspicion of taking bribes and legally granting loans. The rest of the 62 year old is not an isolated incidents, but part of a broader Anti Corruption probe into china as a financial sector. Several executives of state own bank, so being fined in prisons or are currently under investigation to us financial as ours. Are you say Artificial Intelligence could spark the next, the financial crisis, security and Exchange Commission check our against for says hes, there is a task of traffic fellow triggered by machine protection. And its called on regulators from various sectors to Work Together to prevent such an occurrence. Springs government has raised its growth for cost for this year from 2 point one to 2. 4 percent. Thats due to a recovery and sectors like tourism and construction. The revision comes with the countries acting Prime Minister petro sanchez, 6 fucking to stay in office after an inclusive summer election. German vaccine maker biotech has taken a major hit due to weaker than expected demand for its cobra job. The 900000000 euro earnings adjustment is mainly due to excess room materials purchased during the pandemic. And use comes days after us farmington and pfizer, how to lower its forecasts, due to weakness in its co would business to its to come bowden now where a tourism accounts for about a 10th of the countries entire economic outputs during the pond that makes the industry for a dramatic drop and visitor numbers, as well as a significant brain drain. Since then, hotels on size operators have struggled to lower it. Visitors back know a new airport and the 2nd largest city of cm rate is spring hopes of a turnaround. Train for taurus to come back this used to be one of south east asia. Suppose the popular travel destination. Uncle was a one year after commodious reopened, just a few visitors have returned like this wedding couple one to have the temples all to themselves for once and the good to you kind of for us. This is grace. Its a fantastic opportunity to get our photo shoot um a portal for hotels. However, the absence of tourist is a disaster. Since the end of the pandemic, only about 60 percent of the establishment are back in business. Thousands of drops are gone, and so is the support from the government. During the pandemic, hotels receive 40. 00 a day per employee and value added tax was also eliminated. When the business reopens actually like spend coming back uh, including, you know, about phones, payment to stop and yet. So the bank us will have to come back and ask us to re pay back the loan, the interest and no discount. Think so uh we actually in some of the a quite a bit most severe then the crisis, he says the Tourism Advertising Campaign should have been much better. What gives him hope is that c m re received a 150000000 facelift during depend, demik and a new airport was filled. Schools should finally bring the Largest Group of tourists from china back into the country foretells. So the new stores and also their makers, this would be very essential. The post cobit crisis here as hit the entire tourism value change during the 10 that make we experienced a big grain drain from the Tourism Industry and see and re qualified personnel. And people with good Language Skills moved into the capital city into the other industries and are not willing to come back in due to the Tourism Industry because it seems not reliable. At this reading shop, theres concerned that unique skills wont be passed onto the next generation unless the situation changes past. An estimated 2000000 International Tourists are expected to visit the temples this year, compared to 6500000 in 2019. I still remember very well about pens before career 19 at its was crazy. Its um, its full of, of people off the reason for tourists, one to explore archaeological sites without the crowds. The timing couldnt be better getting an exclusive snapshot in front of one of the 7 wonders of the world has never been easy. A and a reminder of the top business story were following for you this our years from around the world are gathering in beijing for the belt and broad forum. Among those attending is russian president vladimir 1st visit to a major global power since his invasion and that rocks off our show for more, you can always check out w dot com slash business were on the dw News Youtube Channel as well, and growth on facebook. So you can find there as well, for me on the Business Team here in berlin, its thanks for watching. And by the way, its time for vision raise for sustainability. But also for horsepower the, its time for the mobile revolution on dw actually ride the guides. No. The way around is strictly scientific trip to some pretty cheap places. Curiosity is we tried tomorrow today in 60 minutes on the w. What secrets lie behind these discovered mileage benches in 360 degrees and explore fascinating. Both heritage selling dw World Heritage 360. 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