Analysis that takes you behind the headlines. Ah, just a quick look at the main stories this our and have been seans of joy in Harrison City after the retreat of Russian Troops celebrations, have been held in the city and across the ukraine. Ukrainian flag was raised on public monuments in harrison present. Not to miss lensky said, it was a historic day and that the city had never given up the Russian Military set. It completed its withdrawal by 5 am on friday. Joan, how has more from keith . Its a huge moment to the ukrainians for the credit president flooded me. Zalinski, of course, essentially winning back the only regional capital that russia had been able to secure through the course of its invasion here. Going back to february, it puts ukraine very much back on the front foot in regaining that strategic, strangle hold down on the south that potentially able to interrupt russias land, bridge between crimea and the mainland potentially even able to menace occupied crimea itself. Meanwhile, satellite images showed damage to a major damn near Harrison City after Russian Forces withdrew a satellite. Company, macs are, says northern parts and sluice gates of the nova kafka dam have been deliberately destroyed russia. Ukraine of accused each other planning to blow his harp, which could devastate harrison. He images also show significant damage to several bridges that span the new pro river. Fighting has fled in the eastern democratic republic of congo, where soldiers a battling m. 23 rebels on several fronts. The m 23 is had a major resurgence this year, forcing nearly 200000 people from their homes. They blame on the armed groups for the killings. The owners of the mediterranean rescue ship the ocean vikings, a european state of failing to deal with a humanitarian crisis vessel, carrying hundreds of people rescued from small boats as finally docked in the french port of 2 long. Ive now been transferred to a facility about 20 kilometers away. Ship was refused entry to a lease, barking a major diplomatic dispute. So those of the main stories this now accounting, the cost is a program coming out next to for myself and the team here in london. But to our plain one is few from dough hahn about 15 minutes. The climate has changed every year for millions of decades of talk, but little action is all about. Distract from create confusion to crate, smoke and mirrors the shocking truth about how the climate debate has been systematically referred to. The oral industry was a made bank roller for opposition to quantify the campaign against the climate. Do you think thats a bad thing . More shooting did with sure. Sure. Absolutely. On. On jesse you ah, i ha, money inside. This is counting the coastal now desert. Your weekly look at the world of business and economics. This week, almost half of all European Investments in china come from germany. The chancellor is on the pressure to cut back on business with beijing, but is this country too dependent on the Chinese Market . Also this week leaches should pay compensation for the damage caused by Climate Change. That is the message from developing nations and the comp 27 climate summits. Bots will rich nations for the bell. While the world moves away from fossil fuels to save the planet, the tiny nation of guyana is balancing an oil boom on its threat to the environment. Ah, the ukraine war, expose the risk of germanys decades long reliance on russian gas. Its been scrambling ever since to reduce that dependency. Now it appears the german chancellor has another problem, members of his government, the opposition. Im western allies, a worried about the countries economic dependence on china. Or la sholtes recently went on a controversial visit to beijing. Often even more controversial sale of its hamburg Port Terminal to a chinese company, steadfast and reports from hum beg after rotterdam and toy Chinese State Company Cosco has bought a stake in europe. 3rd largest port hamburg the Chinese Investment in one of the 4 Container Terminals were scaled down from 35 to 24. 9 percent off. The chancellor, all of sholtes came on the fire over the deal, but many in germany are still unhappy. I know id say about reform, the one hand they want to become independent from russia and on the other. Theyre given away something so important. I think that this has been a favorite project of tensile all of shorts, who used to be met and pushes his own interest. Its not only shows his correlation partners who have warned against the deal. Theres concern outside germany to people in brussels, but also in paris. And a lot of other european member state capitals like there is, there is a lot of frustration and outrage of like, wait, whats germany doing like, why are they Going Forward this . I thought we were supposed to be decreasing our dependencies when were talking about critical infrastructure. And were talking about the nature of chinas political and Economic System and the nature of a company like costco. I think we should be a bit more cautious, especially now in a post russian invasion of ukraine world. The fact that china doesnt allow similar investments in its own ports has also been an argument against the deal for some nervousness about the chinese st. Kara, germanys largest katrina ford show company. The fear that mistakes make will be made again and often, but so far, the business in fact fails handbook fee and it would lose competitiveness against auto european ports. Without cost goes, investment the port was already struggling to attract enough business. Sometimes discussions are a bit exaggerated because there is a concern and, and its an understandable concern. What has happened in the ukraine. We take the concerns serious. They are minor from our perspective, instead of what we can win as a society and of course as an economy, like the chairman ones, but the whole europe as well. But other european nations have accused germany of putting their own interests. First, when it comes to china, steadfast and al jazeera hamper. Lets take a closer look at the numbers. China is germanys biggest trading partner and the value of imported an export at goods where its more than 242000000000 dollars last year. That is, up by 15 percent from 2020 or than 12 percent of germanys total imports came from china in 2021. The Chemical Company b s f is expected to invest almost 10000000000. 00 in its new plant in south china. By the end of this decade and china made up 40 percent of volkswagens. Well, why deliveries in the 1st 3 quarters of this year. And so was the top market for other or to make as like, daimler and mercedes. Now to discuss over that time joined from london by klaus vc, the son, hes the chief eurozone economist at pantheon micro economics. Thank you for joining the program. So how important is china to germanys economy . Well, i mean is an important part is important, part of germany is economy and its important part of the eurozone economy. And i think the most important thing to mention here is that isnt china has become more important over time. Europe has become more integrated with china with especially manufacturing goods, but also in Overall Council slow. So china plays a big role. Maybe its not the biggest role chairman, germany trades more with its neighbors in europe, the u. S. And the u. K. If you look at, its sort of in total trade, i think, but still china is a big part and, and therefore im sort of this duplex attention which is also now along that a west china axis is sort of, its a challenge for europe and joe, but is church is germany dependent on china, aust, that because while china tops the rankings of germanys trading partners, we also have the united states, france, poland, other european countries, all representing between 5 and 8 percent of germanys total trade. So it does appear, they are actually quite diversified when it comes to trade while they are, im and i any would be now it be wrong to say that germany is depend on china in any way because made of all the stuff that germany trade with china especially on the input side that its possible they will be able to get that from somewhere else at least over time. But that doesnt mean of course that you know, a rupture and that relationship wouldnt be economically damage. You know, hes not dependent on china investor. So how damaging would it be . Well, i think theres an economic aspect here. I think that as far as the question depends on how quickly, right the, the severance of the economic relationship with russia, for example, the contact the war happened overnight or its happening very quickly. It seems like in this case with china, its something thats going to be a little bit more slow moving in terms of sort of what the economic relationship between europe and indeed the west and china is going to look over time. So, so far its not something thats really i think thats sort of an acute. So economic hit if you will. But again, depends on how quickly it happened. Why is the chancellor sholtes going against the rest of his Coalition Partners to continue this love affair with china . Given the obvious risks weve been talking about, i think i dont know whether germany has a specific love affair with china, germany, to trading nation, to trade with, with, with other countries. Right. I think thats whats happened over the last couple years is that its the us thats moved, right. I mean, the us itself has, as a strong relationship, economic relationship with china over time. And suddenly now its selling the idea that you know, were in, in, in an existential conflict with china. Of course, it might, that might not be in your interests at this point in time. Of course, europe is part of that western axis, if you will. So europe will have to go along with that in a way, so i think, you know, youre stuck with a little bit in the middle here in terms of tracking. She may be avoid attention but, but increased too much. But so in a way, i would call it a love affair. Its just, you know, an attempt to sort of preserve the status quo or not backtrack too much. The, your question is interest, isnt it . Because i guess you could wonder how this germanys economic ties with china affect the rest of europe. I mean, why so much concern from europe about so says recent business trip to china. What the concern is obviously that if you do, if you make, if economic integration with china increases at this time where the political relationship has changed. And of course there could be a few Political Risk element to this, right . For example, this been a lot of talk about allowing china to invest in german, harper and hamburg, and that could be so maybe 34 years ago. Thats not a problem. But now with the politics change, certainly, you know, that could be a challenge. Weve seen other examples of this, especially with the classic example with a little further back, was there always 5 g Infrastructure Investments in europe, where suddenly a lot of countries decided that while we werent allowed to do that, even though a couple of years before, you know, that wasnt controversial, so i think its, its, its, its elements like that where suddenly economic projects and relationships that were on controversial suddenly being seen in a different light. And therefore, you know, it becomes controversial when we, when we talk about the German Companies that are exposed to china, all invest in china, do they tend to be certain ones in particular like the Car Manufacturers or is it a range of company . I so ranger companies, i would say that a big part of german manufacturing has some kind of relationship with china. This one i, they sell into china that got factory china, or the import, important, and manufacturing input from china. Right. And as i said before, is part it, depending on, on sort of where you are in that value chain and how big your relationship with china, you know, you might be able to, to, to, will increase yourself from that and, and go somewhere else. But thats very difficult to know. So before we see how quickly this moves, we can forget the china itself has had its own economic problems. Its had its very restrictive coping strategies. I thought for some German Companies to adapt to diversify way from china. Its possible, i think that a lot of western companies have been quite surprised with the turn in chinese politics. And so the, an economics and sort of post cover, it seems like she is galvanizing his power and china to come a little bit more centralized. And of course, the serial covered. I mean, theres no end to, to recover it because youre always going to have a case somewhere. And that obviously has probably, for some companies, or at least some Companies Must be thinking about revisiting their economic relationship with china at least as far as so further investments are concerned. You also have a real estate level that is now 1st thing in china. And so that also plays in, so yeah, i think they have, but of course china is still the market, but still it is this picture changing market in that sense, for sure, given the uncertainties facing europe and germany, specifically with energy and Energy Prices and recession and so on can germany, ford keep to keep its distance from china . I mean, i would say over time, you can afford anything you can just right. But, but in general, this idea that the west is now in a, in, and i said in an existential concert with china, the china is now necessary both economically and even militarily. Perhaps thats just not from, from your perspective at this point in time. Just not very good story. Europe is, is not very well. So with that, and i said its obviously known for, well, the european ally, usa, thats the road were going down. You know, europe only has one side here in it. Theres no sense in the end, but i think what were seeing in germany in is, is a reflection of the fact that at this point, thats just not a, a, in, in your interest, youre still has an interest in having some kind of relationship with china, even as china has changed something different, i think thats what thats that, thats what were seeing. Really interesting to talk to your class. Vista sen, chief, your zone economist pompeiian micro economics. Thank you for your time. Thank you. Ah. From devastating floods in pakistan to drown withered crops in east africa cult 27. Summit follows a year of extreme weather patterns. These disasters the estimated to cost the developing world more than half a trillion dollars in damages annually by 2030. And poor countries have been urging big polluters to pay compensation for the losses and damages that were already suffered as a result of the extreme weather. Now until now, climate financing has only focused on lowering Carbon Dioxide emissions and helping communities adapt. But this year for the 1st time, loss and damage compensation is top of the cop 27. 00 agenda. And the report says, developing nations need one trillion dollars a year in climate finance. But rich countries have so far failed to even deliver on an earlier pledge to raise a 100000000000. 00 a year by 2020 to support developing nations in reducing emissions and adapting to Climate Change. And now of course, with the ongoing when you crane and the cost of living and energy crisis, guessing governments from develop nations to agree to these measures is going to be difficult. Joining us from london is kathrina helen brown, vons an a, an shes the heads of Corporate Research and head clean tech at cobb and tracker. Thank you for joining us. Kathrina whos to blame for some of the Climate Change linked extreme weather events. Weve seen this year in parts of the developing world. Its very hard to say there is a blame and we know that theyre happening. We know what the cause of Climate Change are. They are clearly human. Its now the question of how do we come to a climate outcome and particularly now that the process is on a thought that allows us a half way but mitigates the was damage. I achieving a 1. 00 degrees scenario back in 2009 rich countries pledge this 100000000000. 00 a year in climate financing to help poor countries adapt to Climate Change. That was a voluntary system for adaptation and mitigation, rather than the reparation in damages that are going to be discuss this time route, given that target was not met. How optimistic are you that this whole idea of lawson damage will be successful . I think its a very difficult discussion, particularly in the current context, what you offer, assessment recessionary, economic environments, and many regions. It will be complicated. However cleverly, we need to think about financing mechanisms. We need to think about knowledge for Mechanism Technology support mechanisms and access to finance for developing nations. The whole idea of reparation. Reparations is. Hes usually contentious, isnt it . I mean, on developing countries concerned that providing funding could be construed as an admission of legal liability and then end up triggering claims on a, on a major scale. But really, there are a lot of complexities around that. Youve just mentioned some of them. I think it is an area where we think more about knowledge sharing. We think about various areas of financial support. One of the global north clearly has an ability to do that, or that can be various shapes of forms where you do not see that sort of legal risk and aware financial and technology and other support can happen. Ok, so lets talk about the fund itself. I mean, how, how do you go about setting up a fund like that . I mean, lots of details to get members to agree on where the money is coming from, how to raise the money, how, how which countries or disaster does qualify for the compensation. I mean, how, how do you put Something Like that together . Well, obviously requires a lot of for donation it internationally. It also requires a finance. It requires at the end of the day, what youre looking at, all of these things you need to, to look at private capital supporting projects. A funding is a big fund is one thing, but it also then comes in to, can you mobilize private capital to come in and support projects on a larger scale . And that was one of the challenges where meeting is why is that already happening to a certain extent . We think it is, there is not enough back job to actually activate and spot private capital into the entire Energy Transition sector. You need a clear, sees you need support for projects in the visibility and clear government guidelines and strategies and in more places than not. But as i actually just thought their strategies changed too quickly. Visibility isnt there. And then when you half that though, you can then mobilize capital and you can enable Clean Capital to drive forward market and kick off a bunch of spiral. When youre talking about private capital, are you talking about loans because they are grants to countries at the moment, but that is in the form of loans which have to be paid back at some point and poor countries struggle to do that. Well, it is all about it is the mixture, finance, finance office. So my new rich, different structures for possibilities. It, its a diverse package, what you need. And then it also comes in creating longevity of revenues and business model. Lot enable financing. And that enable potential that service and maybe combinations of these things, especially in the early stages. And probably in early stages, youre looking more at grants later on. Youre looking at more loans later on. Yet youre looking at combinations of other instruments as well. We had some very stark words from antonia good terrorist, the head of the un at the opening of called 26. And i quote here we are on a highway to climate hell with our foot still on the accelerator. What did that statement make you think . And do you think its going to motivate and put the worlds attention back on Climate Change . But it definitely was a very strong statement. And if we look at our current pathway, sleet we, i can see a way we know why he is saying that. Clearly we need to be focused on what the actual temperature outcome. So its been clearly a thought is not in line with the paras target at the moment. So, so we would hope that this we focus his attention on to achieving the powers target katerina helen. Brad von deny and head of Corporate Research and had a clean ticket. Carbon tracker, thank you so much for joining us. Thank you. Often is 1st discovery of oil in 2015. Diana is to day one of Industries Big players, a 3rd of all new oil, fines in the world and made off its coast. Now such a resource could transform the fortunes of the country where 40 percent of the population and just over 5. 00 a day. But as a weld moved away to ads, green Energy Harvesting the potential riches could prove a challenge. John hendern travel to the capital, georgetown to interview the nations president. It fun ali the temperate waters off the guy on a coast cover. Some of the Worlds Largest preserves of crude oil, but its not the Oil President here fun. Oh he is interested in. Its what he can do with it. The story about it is not oil and gas. We are a country that is rich in history. We are a concrete, it will be and mark, my words will be a leader and for security and our culture. And importantly, we will be along the best eco tourism destination you can find and that oil revenue may help you get there fast, or every revenue will help us to get their faster guy on his sprawling stop rec, oilfield holds an estimated 11000000000 barrels of crude enough to turn one of south americas poorest countries into one of the richest and contractor exxon mobil is discovered 2 more deposits, making that feel even bigger. Its big on an international scale, a global scale, as far as the conventional oil and Gas Resources being found around the world in the last 78 years. But also at a national level, this is transformative for the country. For diana, critics in the Opposition Party warn of the so called resource curse that struck other oil rich nations. It were some benefit greatly, while most miss out stock market has gone up in only a few years. 400 percent. But the minimum wage is only gone up to 6 percent in the same time period. And so you see those huge escalation in terms of inequality. Some 40 percent of guy and hes live in poverty earning below 5 and a half dollars a day. According to the world bank, the influx of oil money has raised rents along with a height of buildings in the capital of Georgetown Center of the petroleum boom. The infrastructure here in georgetown has been growing by the day and for good reason. Since i was discovered here in 2015, one 3rd of all, the new oil found in the world has been off the guy and it comes to only a decade ago, george towns demo. Our river was a sleepy port. Today its a hive of activity, is oil Service Vessels shuffled back and forth to wash your rigs the world is trying to move away from oil. Do you feel little like youre in a race against time here . Yes, its a race again. Same with bus. Don, response lee though in a sustainable way, but we intend to accelerate the production. Speeding up production might help this generation prosper while creating a base for the next. John henderson, Al Jazeera George down guyana. Rising demand for food and falling crop harvest could compromise our ability to feed ourselves crop. Biodiversity helps farmers improve output during tough times, but so it does say as much as 3 quarters of that bio diversity was lost during the 20th century. I was under our petty visits a high tech facility in columbia that distributes crucial scenes to vulnerable farmers around the world. A good, nice, heavier hit either inspect each leaf at this lamp ground being clamped. Here spent the last 4 years studying and nurturing it to save the species from extinction. Land. Its a wild variety from costa rica thats at risk of extinction. This is probably the only remaining specimen in existence. We are regenerating it simulating its environment. These wild spaces held the key to resilience. James can offer a solution to water deficits and pest and disease. The seeds of this and tens of thousands of other native plants are collected here on the outskirts of columbia, the 3rd city kelly, for the Worlds Largest tropical seed bank for beans cas of an animal feeds plants called future seed. In the banks. Labord stories researchers prepare each feed for story to research, selecting the optimal ones in discarding any that are damaged, others work and dna extraction and gene sequencing to decipher in translate to the plants, genetic code, global not experts say its vital to breathe more resilient cropped varieties at a time when Food Supplies are increasingly vulnerable to extreme weather deforestation in other human activity. So we have 2 major threats, existential one is the genetic erosion. Several of these kind of diversity are disappearing due to everybodys ation to roads, to, to kind of human activity. The 2nd is Climate Change. The world used to cultivate more than 6000 different plans, but its estimated that about 75 percent of Crop Diversity has been lost in the last century. The bank hope to reverse that trend. This air type packages store bought in 60000 samples of billions and 4 inches and theyre kept hearing these huge fridge at minus 20 degrees celsius. Scientists call it an insurance for the future. Peer, we hold the seats that belongs to Genetic Resources that belong to the countries of origin. We keep them, we can maintain them alive and available also to the property. If we just keep solutions to the challenges that we cannot imagine already solution for todays call, just the dont. So for the future thanks to the nations. The seed bank is using Artificial Intelligence to speed up crop analysis and breathing new more resistant varieties. Trying to keep pace with an increasingly deteriorating world allison and just meet columbia, and that is our say for this weight, get in touch with us by tweeting me at moline side, andes, the hash side ha, ctc. When you do or drops an email counting the colstat out, is there a dot net east ah address . As movie online al jazeera dot com slash ctc checkout website that will take you straight to our page, which has lots of individual reports, links an entire episode for you to catch up on that say for this edition of counting the cost. I money said from the whole team. Thanks for joining us. Denise. On out to sarah, ah, indonesia your investment destination, the worlds 10 largest economy is busy transforming, ready to be your Business Partner with a robust talent pool, politically and economically stable and strong policies. Being the power of indonesia is confirmed by the g. 20 presidency. Bringing opportunities for you. Invest indonesia know britains beloved curry houses are in crisis to india. Don is shut down every week. Use a bricks, it financial fraud, and the pad in 1. 00 oh, 1. 00 east investigates on al jazeera. Ah
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