Transcripts For DW Business 20240703

But really its a crime is addressed and the path of trying to take systems civility for his action. What about freedom of to print and freedom of expression . God uses trees. Starts october 28th on d, w. The further flow to china is aiming property sector as one of the Biggest Developers Country Garden inches towards a default. Well take you inside the empty sky scrapers that once in body to the engine of chinese economic growth. Also coming up on uncomfortable truth, why the you is buying more russian l n g. Then ever before. To this dw business on kate fergusons thanks for joining me. The crisis within china is Property Market is deepening as the countrys largest private developer Country Garden inches towards a default. The real estate time missed a key interest repayment on wedding state. Fueling fears about its longer term ability to pay back from 17000000000. 00 worth of International Loans and potentially leading to a states similar to advert crohns, which filed for bankruptcy in new york earlier this year. China is property sector tends for a quarter of its total economic output, but slowing population growth drop in spending of a government clocked on on risky landing practices, have loaners to the sector into crisis. The result, individual home owners fixing on property is declining in value. Developers with more units, then they can sell its a common site doing chinese sidewalks. These days, realtors, advertising apartments and self made signs. The problem no one wants to buy that can show who an hours drive from. Badging. Massive apartment buildings stand like concrete scale is 20 floors high. These apartments are supposed to be sold in 2020. Some customers bought them as an investment, but only about 10 percent are currently used. The cranes are moving construction debris use everywhere. Buyers in china usually pay for their apartments before theyre even built finance by mortgages. But now around 100000000 apartments. So standing unfinished, the end of a real estate public. Thats up prices, rockets, sometimes double. Now with the chinese economy in prices, the bubble has burst. The cost is end of ending, our total sales have dropped to less than half of what we hadnt seen in previous years since weve been construction. Because all but these height is stock in stock in hockey. The relisted sector accounts for a quarter off the chinese economy. No wonder business there is highly sensitive. Were on our way to find out more. When the police stops us, we have to show our passports and answer the questions that last were allowed to proceed to see some finished apartments, the owner so desperately trying to sell that before prices drop even further. Real estate as an investment is no longer attractive. Each 40 percent of all the apartments used to be bought as an investment to dates only 20 percent. The rest, just for owners to live in confidence and the sector has evaporated as china is struggling with a weakening economy so much that the country is being seen as a risk for the Global Economy off the steering germany to we will feel the effects of china and no longer importing like they used to fund out china doesnt need to fear an outright recession. And yet the consequences of the realistic prices of the social fabric of china a hard to for see now to some of the other Global Business stories making news. The eu has launched a probe into social media giants mess on tick tock, stitching details on the measures theyve taken to coma illegal contents of this information off of our mazda talk on israel. The investigation is an application of the use new Digital Services law. Similar pro is underway again, social media platform x formerly towards her to stay on topic building their entrepreneur at most cost denied reports that he is considering pulling x from the you. Thats after report. And Business Insider suggests he was open to removing the platform from the block due to regular treat pressure regarding the spread of this information. Netflix has increased subscription prices for customers in the us, written on from the added income will be a further funds to the company, which posts is better than expected growth thanks to attract in on passport sharing on the study flow of new programming in the last quarter nokia is to come up to 14 size and jobs as part of planned to lower costs, following a plunge, and 3rd quarter earnings to finish Telecommunications Company play, and slowing demand for 5 t equipment in markets such as north america and europe earlier this year. And lucky is rival erickson and those plans to layoff 85500. 00 employees. Since the beginning of the war in ukraine, the European Union has radically reduced is in 4th of coal, oil, and natural gas from russia. In fact, the block stays in the goal is to eliminate all russian fossil fuel in ports by 2027. But there is one, a glaring exception to this trends liquefied natural gas, or l n g, which the e u has been pushing in record volumes from russia to dont use duct power report as an embarrassing sight to the e. U. The block is russias biggest customer of liquefied natural gas buying over half of the country supply in the 1st 7 months of the year. Thats with over 5000000000. Yours potentially sustaining the criminal in small chest for us. Or it means that youre a be engineering. Im countries which basically are purchasing a russian gas, basically they are helping to finance of russia budget. And at the same moment the finance rushes, aggression and, and, and, and war against you. Great. L. N g is natural gas, which has been turned into a liquid form to be transported around the world in ships. Rather than dime pipelines. Its 600. 00 times small, the in volume. Most of the russian l. N. G entering europe, enters ports in belgium, funds in spain, but it doesnt all stay in your at the cargo is moved from one she but either to another shape or to a storage side in the border. And then it is saying that these botched uh some whereas uh either europe uh or towards the asian markets. Uh. Ready the middle east that it depends, much of the gas stays in your so, and its delivered to the e. U. Nations pressure has mine, is it on your a p and Ports Terminals to stop accepting russian l. N g impuls flux ease which runs the terminal in belgium. Zebra good ports told dw, that based on the principle of open access is an essential service. Meaning they cant legally deny any client access, even russian shipments who has already sanctioned invoice of russian oil and coal, greatly reducing the quantities coming in. I suppose weve spoken to say that in television, you decided to sanction gas. Those inputs are unlikely to get done in brussels. The European Commission says ones ellen g purchases from russia to end. Besides the overall gases island g. Im pipeline full time from 40 percent before the invasion to 15 percent. Now, you know, some companies are tied into a long term contracts, and we think ours then to, to bring those to a close us as soon as possible and to not renew those. Um, so yeah, i mean, the political message from the commission is very clear. The sooner we can get rid of the russian at n g impulse, the better, but that will take a little bit of time. So the you have celebrated, the fact is managed to get gas storage to 90 percent with the winter coming. But the chunk of that has come from russia to tell us more about this, im doing that by carol nacley assigned her on ceo of Crystal Energy, a consulting group. Shes joining us from abu dhabi. How i want to understand dispatcher, how important is lindsay for the you . In general . I and she has saved you from. Itd be cries is not here because they use for additional use to rely on pipeline gas, which is a very rigid infrastructure because its con, next one supplier with a specific point that is a customer. But, and she just speaks ability to bows and shes a producer, as opposed to him because she wasnt the case of the use the, when the crisis happened last year and rush, i thought of his supplies gas supplies to do that, you buy price more. We found it and she said the day yes, process increased, but was that probably the signal that was necessary to attract these additional supplies . And then she and towards the also of last year was still. And then she said curse queuing at some quotes in europe to the liquid, 5 natural gas to very important market. That is it you, so i think was out and then she would have seen the price is much higher last year in europe. And because it would have lost it much longer. Ok, so we know that l m g is really important to the right. Now what, what site is it 2nd largest supplier after the united states, given that the, you does have a big and reliable supplier in america. Why has it been buying more from russia . What to do used to be unimportant stuff going on. Natural gas due to the use of course its changed so dramatically between 20212022 bucks to what we know. 500. 00 gas shrunk. And all this amount was able to compensate it was set the next best buy. And then she know, of course, you might say why we did buy a and she at the case or to the needs of the local market and the difference between images. And my thought is that you can get it from different sources, but you have to dig into cost duration. What is available out there. Its not easy to open the top and close the top and side of should send the ship and then she to a market. So most of the ends you that use to trade it today. Its usually constructed between the producer and the customer for many years to cause up to about 15 years or 20 years. Theres a smaller proportion and then she that does try that without this number to the contract. So the cost spots and she and fuel may or did have thats for energy at the u. S. Because the main wants, but very few around the engine i shot is stepping in to take advantage of this flexibility. The n she is given to europe and the need for energy and the you to tell not to of Crystal Energy there. And you can watch a longer version of my conversation with her on the dw news, youtube channel. And finally, Sport Utility vehicles or s u v. s have a reputation for being a mass of golf golfers, but perhaps it doesnt have to be that way. Take a look at this. Students as Idaho University in the netherlands have created an off road vehicle entirely powered by rooftop solar panels. The one size into columbus or test drive across morocco was completed for the out. The vehicle happened to plug in one with a top speed of a 145 kilometers per hour. This stella, tara, is the world, 1st off road. So there via the reminder of the top business story. Were following for you this, our china as largest private Property Developer Community Garden is entering towards the deep real estate. So i missed a key interest repayment on wednesday evening. Serious. But it wont be able to service any office. 17000000000. 00 farms on that. Rob. So if i show for more, you can always check out d, w dot com slash business for on the dw easy, cheap time on oswell from me on the entire Business Team here in berlin. Its by ads. Take the into the comments or concerns with sim sebastian, big smoke getting the headlines these days, but the warning ukraine has lost none of its intensity from capitol hill. Hughes, my guess is the Prime Minister as the world goes on, how much space does she have in nature plans for defending the ballistic space . Conflict, the next on dw, see the points strong opinions clear position. International perspective for us is under the lot of pressure with fighting going on. The main line drive of china is busy expanding it, sent to him. So to the point we are all on this frame. How many your contracts come to us . Copeland to the point in 60 minutes on d. W. We are all set and were watching closely. We all seem to bring you the story behind the news. Were rolling about unbiased information all 3 months. The, its not getting the headlines these days, but the war a new crime has lost. None of its intensity with both sides anxious to make gains before the winter impedes that movements on the battlefield. From the few i can use capital vilnius, my guess is the problem. Is that in good that she money say . What i think is the most to show is that countries stay committed to providing the brain with weapons with needs. The financial funds is nice with everything needs the when the as the little goes on, how much grace does she