This is our desert. These you top stories, the u. S. Justice Department Says its charged a man, it describes is a member of a bronze revolutionary god accuses him of involvement and a plan to murder, the former National Security adviser, john bolton, iran says the accusations of baseless and politically motivated. We face a rising threat from authoritarian regimes who seek to reach beyond their own borders to commit acts of repression including inside the United States. This is an especially appalling example of the government of iran, perpetrating a grievous acts of transnational violence in violation of us laws and our national sovereignty. My cana has moved from washington. Oh, the Justice Department has outlined an elaborate and lengthy murder for hire plot which began some 18 months ago. When sharon put sophie allegedly contacted somebody within the United States and persuaded him to act as essentially a murder for hire promising some 300000. 00, should he kill john bolton . Now unknown to put sophie was the fact that this individual was an f b. I, informant, so he informed the authorities. The authorities were abreast of the plot as a developed ukraine is wanting. Russia is preparing to connect power from the separation Nuclear Plant to crimea, which moscow annexed in 2014 European Countries as setting power consumption caps as they reduce their use of russian energy. E countries have stopped importing cold from russia since wednesday serially. Oh, now suppose the nationwide have you in response to violent Anti Government protests . The governance has several people have been killed including members of the security forces. Thousands of people are processing across the country over the rising cost of living, a calling on the president julius mother b o to step down. In facial in the u. S. Could be cooling, the Consumer Price index climbed a point 5 percent in the year through july. That was compared with 9 point one percent in the month of june. All threes ease also up and the figures are welcome reprieve consumers. Theres the headlights nice continues here, not as out counting the cost one year ago, the thought of on switch it to gobble following the withdrawal of Foreign Forces read to years of war ended. But many of guns are still waiting to benefit from the peace is not a bond, had not one had denied in recognition as the legitimate goblin above one side. With olive on takeover one year on another there i lose. Hello, im sammy say that this is counting the cost on al jazeera, your weekly look at the world of business and economics this week, running out of patience, chinese home buyers, a whole thing, payments on unfinished projects. Well, the property sector crumble and how would that impact the economy . Also this way, columbia has a new president and he wants to reset relations with neighboring venezuela. What that means for bilateral trade and russia intends to pull out of the International Space station after 2024. Can moscow afford its own project . What does that mean to face exploration . Ah, now real estate has been one of the biggest drivers of Economic Growth in china, not accounting for one 3rd of the countries. 18 trillion us dollar g, d p. But its not just the broad economy that relies on it. Households due to up to 70 percent of their wealth is tied up in the sector. But strict corona virus restrictions and the debt crisis among developers have slowed down the Property Market and halted construction on thousands of projects. Home buyers now in short, frustrated, theyre refusing to pay the mortgage on properties. Theyve bought. The boy called involved more than 300. 00 housing projects across more than 90 cities. It puts up to 350000000000. 00 of payments at risk. More than 85 percent of chinese houses are sold through pre sale in which buyers have to start repaying their loans long before construction is complete. In declining sales, adding to the pressure on the Property Market, chinas top 100 developers sold their sales. Hobbs in the 1st 6 months of this year. Sales plunged almost 40 percent in july from the same period last year to the equivalent of more than 77000000000. 00. They went down 28. 6 percent from june, ending a 2 month recovery and month to month sales growth. S and p Global Rating agency expect chinas property sales to drop by around 30 percent this year. That would be worse than in the 2008 financial crisis. The Chinese Government is stepping into rescue the real estate sector efforts include a grace period on mortgage payments, and the central bank back fund to land Financial Support to developers. Business is struggled to obtain financing, and the last 2 years is aging cracked down on their line from debt. Well, joining us from singapore is raji biswas. He is the asia pacific chief economist, that s and p Global Market intelligence. Thanks for coming, roger. First of all, lets start with the courts. How serious are the mortgage boy called, how serious the thrice holiday . Well i, i think their focus very much on Property Developers have been facing difficulties and have delayed their projects. So it says certain subsection of total borrowers who have arranged contracts with Property Developers that are facing difficult circumstances. And often thats manifested in delays to projects. So it is relatively subsector of the total number of borrowers. Whats going wrong for developers if home buyers paying up front in advance of the completion of projects . I think one of the difficulties that has faced the industries, theres always been a sub sector for pretty developers that of been highly leverage. So even in normal times, you do have some Property Developers in many countries around the world that face financial distress and affects the borrowers. But in this particular case, chinas regulatory authorities back in 2020, wanted to reduce macroeconomic vulnerability to high leverage and the real estate state sector. They were worried that that could create Financial Stress in the system. And so to reduce that high leverage back in 2020, they introduced what was called 3 red logins. And that policy put limits on debt from Property Developers in relation to a number of metrics that were then looked very closely in terms of start companies, cash flows, their total assets, and also their capital levels. So after the introduction of those new regular sri policies that did put more constraints on real estate developers. And so for those who are highly leverage, right, difficulties with their Balance Sheets that created or Financial Stress. So i think some of the problems are, were seeing are related to those efforts by the chinese regulatory authorities right now. In addition to red lines, theyre now trying to put together a fund to try and help some of these over leveraged firms. Is that enough . Or theyre trying to walk, you know, balance between continuing to maintain their efforts to reduce leverage, which is an important crate number priority over the medium term and set out as a high priority, not only for real estate, but also more broadly for the corporate sector back in 2020 and also of course to try to manage the risk now is occurring with some developers. And thats been evident. Even in the 2nd half of last year. Its the combination of those sort of 2 sides of the equation where they dont want to just provide huge amounts of stimulus and let problems again resurface. But on the other hand, they also dont want to create a crisis. So theyre trying to manage the situation, particularly with the borrowers in mind, so the projects can be completed. And so i think that is the intent there is to ensure that theyre doing the best they tend to ensure the projects are somehow completed even through restructured arrangements where other developers may have to play a role and also local authorities. I was about the issue of mortgage defaults, right. What does that mean for banks . Well again, because when we talk about the amount of loans at risk because of this situation, its a relatively small share of the total bank lending for the Property Market. So its not, well, bank sun, well, its always a cern for banks. When you see ronnie seeing distress in certain segments of their loan books. And in particular, its not only about the borrowers facing risk, but its very much about the developers as well. So it depends on the individual banks and how much exposure they have to particular property developer. I think thats certainly an area of concern. But if we look at the total loan book of the Banking System, the total number of mortgages that are at risk would be relatively small. And the big banks and china are vast. I mean, theyre amongst the biggest banks in the world. So, you know, they have very large asset bases and they have the ability to deal with a certain amount of distress. So at the moment, in the total picture of the overall Banking System in china, this does seem like a relatively small share of the total loans. However, one point to bear in mind is that if the price of Property Markets show significant declines, that does cray a different equation as in any other country. If you have full prices in the Property Market, that increases potential distress. But at the moment, thats not the situation thats facing china as moderate to clients and prices on a now bill, everything that you said, and im wondering whats the bottom line here . What does it mean for those concerns, which we have heard about the possibility, the real estate crisis could drag down the entire economy which is already slang of those then those concerns then overblown. So i think when we look at the 2nd half of this year and also into the early part of next year, the outlook for china certainly does face headwind. Not only from the pandemic restrictions and the 0 current policy, but also some headwinds. Now from the property mar, Residential Construction is clearly slowing down quite significantly. All the metrics are showing not. And then also with the us and you slowing down export outlook. Its also going to be slowing down in the 2nd half as well. All right, thanks so much for sharing your analysis on that. Reggies. Thank you very much. Columbia and venezuela have been political foes for years over a range of issues including an increase in the number of venezuela migrants crossing the country shad border. But the thought has a new left wing president andys promising to men, ties with caracas now because of a petra was also announced plans to resume trade and reopen the often lawless border between the 2 nations. Alexander on pierre reports from the border city of cook router, the catalina morris, co owner of a bio degradable Detergent Company in cooper proudly shows off her cleaning products. But when shes missing these days, our clients, economic hardships meant she had to let go of 21 of her 23 employees. She says only the resumption of trade with venezuela will save her piano. Okay. It is extremely important if not vital for us. I think this could offer us a lifeline. We could reach markets and clients again. Its a big opportunity and we need to take advantage of it. The border between colombian, venezuela has been closed to all but pedestrian since 2015. The neighbors severed relations. 3 years ago now left his president gustavo, it through his promising to normalize size and get goods moving again. And i, annual trade was worth more than 7000000000. 00 us dollars back in 2008. Last year it was just a 155000000 business leaders. Hope that will change quickly. Or we can regain the 120000 jobs. We lost in a short time in just a year. And we think this is an historic opportunity for the jew sticks, geography costs and agriculture. We could be the venezuelan pantry for food and raw materials. I mean, weve been victims of political fight last been bitter divisions among political foes, the left, the regional tatters. This is a bridge of 18 deep as a state of the art overpass with 3 lanes in each direction, warehouses, offices, and everything thats needed to facilitate trade between the 2 countries. It was completed back in 2016 at a cost of 36000000. 00. But it has yet to enter into service. Years of closure of also led to an increase in crime, venezuela. Businesses of resorted to buying colonial good smuggled 3 legal crossings, raising costs and empowering criminal gangs. A sound like the 3 agents, and that was man show as the few supply stuck in our warehouse waiting to cross legally. She says, restoring trade will take time as rules need to be re established by federal while a while it will have to be very gradual because we need to regain confidence before 2019 we had between 12 and 15, licensed public warehouses for International Commerce under duty frees oneill today we have none 0. But one thing everyone here agrees is that reopening the border is the 1st step to providing opportunities for both sides. Allison, their m p a t t l, jersey cook water. Right. Joining us from georgia in the u. A. E. Is hire a local candle, hes the dean of the college of communication at the university of georgia and latin america. Analysts good to have you with us. So hire to reopening the border. Of course, thats good news for people on both sides. But how easy is it going to be to get around some of the challenges to try . Im talking procedural challenges and Security Issues and so on. Its going to be a big challenge for both 5, for one on the one hand, of course. As well as economy, although ive somehow recover a bit, its still still in 3 for most people hardly make ends meet and the company, the company has a really hard time getting hard currency to pay off on the other side. Yeah. I mean with that security, a lot of the gorilla groups at the dc didnt and b, e l n operate widely on the borders in between columbia and, and its both in the north through the heat our region as well as in the 1000 cook with that and and so ab be guaranteed that each government can, you will be limited to their own ability to act on those very structural issues, which in both cases have been very difficult to deal with. How much do you think opening the border will be worth in terms of an increase in trade value . Well, i cant really put out a number, but i can tell you that in the early 90 ninetys, when the president paid made a big or to create a synergy with between both countries. Beat includes went broke from half a 1000000000. 00 a year to nearly 5000000000. 00 a year. So, you know, would that happen again . Well, of course, not necessarily because in that time its, well, it was a robust economy even though have a problem. We had lots of things to act along by 1st, but they were there. What types of you can been its well important out of the mark i will lake to both import an export of products from the north region in columbia. All those positions are no longer there at the moment. Im going to mention this, let me pick up an appointment that you mentioned and off this though, ill venezuelan goods companies. Are they able to compete with the colombian counterparts or is an opening of the board . Are going to lead to something of a routing of some faxes in the venezuelan economy. No, no vintage companies are not going to be able to compete in the moment, the level, bureaucratic control from the central golf and then the obstacles, the uncertainty which is probably the best, the worst part makes it very difficult for companies to bonilla even to produce, to satisfy the demand in been as well, it felt let alone to export. Now some companies have been well and are exporting like a pump in a rum add some very control industry, the oil industry. But thats it. You know, we dont really have lost to export at the moment. So one thing, while columbia has developed a very diverse and Strong Industrial cap ability, we can overlook to ask the important question of how would reopening and reactivating the board. A wall of that mean for the migrant crisis, for the movement of people be open on the board, it doesnt mean a free pass for my ad. Theres nothing in the recent agreement that says that now ben is one of the can, can, can move without the proper documents. And the other thing is, and the post called the era columbia, theres a huge problem with unemployment. So now the minutes are throwing competing with columbia, and so for specific jobs in certain areas and be informal economy, which is already big enough in columbia, it doesnt make it that welcome, you know, that re 6 receptive tube. And so that might, so theres also the economy, i dont think. So i dont think that we should expect the open in the bottom is that all the, all the image will go through how long. Remember, the portion of the finish do not stopping, but they both belong to the value in, in panama, and theyre looking at walking or hiking all the way to the United States, which is the final, the connection with many. So i dont think that we should expect mrs. I know being on the border will make it easier for the for the im, i got more secure. What it can allow us in that depends on the colombian government on there was that will pedal is that they are the relapse the measures. So when its when a migrant can go on in an illegal way, what . And i think thats, thats the missing step to take. Now, ive been a great chat. Thanks so much higher. I q. The International Space station is orbit is above us for more than 2 decades and has been used to conduct thousands of scientific experiments. Well, that was thanks to russia in the u. S. Overlooking their how still it is on earth, along with cooperation from canada, europe and japan, of course. But now the future of the i s. S. Books on certain russia announced that will withdraw from the station after 2024. If it follows through that could speed up the end of a project about cost, nasa around a 100000000000. 00 over the last quarter of a century. Moscow says it wants to build its own space station plans to cooperate with chinas town gong. Nasa has all the plans to its funding 3 private companies to develop commercial space stations. The Space Foundation says the global space economy grew last year, the fastest annual rates since 2014 hitting a record of almost 470000000000. 00. Total output by the worlds governments and corporations in the fields of rocket satellites and others expanded by 9 percent here. Every year. The u. S. Remains the biggest spend with a 60000000000. 00 space budget. Thats almost quadruple china space cash, which is the next largest spend private space investment, has seen a slow down this year, but at least 90 percent of more than a 1000 space craft launched in 2022 have been backed by commercial firms. Well, joining us from the strasburg in france is cloud to so hes the Research DirectNorthern Sky Research good to have you with us. So 1st of all, is russia really going to pull out of the International Space station . Well, at this point is, so a big question. Apparently it has not been confirmed. There were mentions in the press that they would do so. And i believe thats probably a direct retaliation of the american position versus russia in the current war in cream. Or would it mean for the i assess if russia doesnt pull out . Can nasa continue to operate on its own . Well, on a technical basis, they will need to find a propulsion module to replace the russian modules that would be no longer operated. They could probably keep the russian models that means coming by them, or they could find a commercial solution of their own. But that wouldnt have to be before 2030, which means another 8 years or 46 years, depending if the russian spot in 2024. So it is technically difficult. Now, politically, will that be done by the other members . Member states of the us. We dont know about that. Now russia says it wants to build its own space station, does have the money for that. And if thats whats been reported right now, its probably using a lot of its fund to go towards the war and ukraine. A building a space station is not a very small capital expenditure. Its a very big Capital Expenditures theyve done it in the past. Technically, we can certainly do it now. What will be happening for them is will they be able to divert money from the war effort to building a space station and rather quickly to replace their current capabilities that remains to be seen . The i assess was going to retire anyway, by 2030, wasnt it . What does the future of Space Exploration look like . How might you evolve with so many different plans on the table . Well, actually this is good news. There are so many plans as you probably know, china also has a space station that its building. Now. If the russians go on their own, there will be another space station and the partners of the Current Space base station if they all want to continue having some capabilities up in why would it be either good by themselves, so many different separate efforts instead of a joint one, well, these efforts will also require require funding and theres a lot of private funding thats going into those space stations now, which means Less Government expenditures for what is actually a very, very expensive infrastructure to put into space. And therefore, that will probably mean also more opportunities for science in space as well as probably more flights for astronauts to go into space, into the space stations and eventually space tourism, which is also a budding market for space stations. Theres also been concerns that are all of these commercial plans, theyre not going to be ready by the time the i s. S, retires. Are those concerns well founded, somewhat founded well founded indeed, but the technology has moved so fast now that it takes the less testing and assembly and less than for Testing Assembly or putting something together in space now. So thats good news. What is less good news as well . The inflation have an impact on the funding of those commercial space station. There may be a short term and space is fraught with delays, but eventually we believe that they will continue and they will have commercials. Why . In the short term, things are going to be, i dont know in space, free fall, no pun intended, not free fall. There will be bumps in the road, i would say rather. And those are going to be through the industry as you know, its not just the space, its also for other areas of activity, economic activity. But i think they will recover because this is a long term endeavor. And weve seen and the government has that to either subsidies or funding or enabling technologies. And we believe that thats going to help them actually get over those bumps and about why. Now im going to ask you to try and get out that crystal ball and look ahead for us a little bit because last year the space economy grew, didnt it . Do you think 2022 is going to be a bumpy or too cold . Well, it may be a flat year, maybe bumps in the road indeed, but i think the government, as usual, have always supplied enough subsidies or initially enabling technologies to help grow the space economy. So i think that after this year well get back into a more positive outlook. All right, well, like a positive ending. So lets end on that night. Thanks so much. Claud. My pleasure. Thats our show for this week, but remember, you can get in touch with our fire twitter, use the hash tag, ha, ctc. When you do or drop with an email, counting the cost, but ill just hear a dot net is our address is more for you online at al jazeera dot com slash ctc. Thatll take you straight to our page, which has individual report, link and entire reference. Those for you to catch up on that for this edition of counting the cost. Im sammy se than from the whole team here. Thanks for joining us. The news now here is next. The ah august, about a year after the taliban took over a special coverage of the Current Situation in afghanistan. The listening post examines and dissects the wealth media. How they operate to the stories they cover up to 5 years on the since me on mars. Muslim minority were forced from the country. We look at the plight of the rocking. Ill just say were well showcase is the best documentary from across the network, including a new 3 part series, the sixtys in the arab world. 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