the, you're watching the date of, of the news from the, the end of next chip on the, to embed it tells you about china's growing property process and the collapse of the, for my sick. the lead on the deputies to stay with us for that. if you can, i'm anthony. how'd in berlin from me and the scene here, stay with us. if you can and have a good the have to say there's to us the that's why listen to their stories. the reporter, every weekend on d. w. cream was like a stepping point, just you know,

find what you into that warranty wants to finish your studies. now you have a significant from refrain. you can choose to go back or somewhere else. currently, more people than ever on the world wide. in such a passion life. yeah. give me something that is common very, very sense. and yeah, can we learn more about or know when a story info, migraines, the chinese prophecy giant ever grand files for bankruptcy. protection in the us is the latest sign of china's economic flow down. we spoke with an expert in hong kong about what that means with china and the world. and chinese cars made in germany. many automakers from china are considering opening production facilities in your biggest current making country. welcome to the show tip on

a 10000 alien chinese property giant f. a grand has filed for bankruptcy protection in the united states. the company which was once china is top property development developer, has been struggling with more than $300000000.00 in liabilities since 2021. ever grants problems have come to symbolize. the growing crisis in china is huge. property sector, which accounts for a big chunk of the g d p and the world's 2nd biggest economy. experts have long, wide china is real, estate prices could spill over to the global economy. now, earlier i spoke with a texas senior economist gary ng. i asked him with a, everyone's bankruptcy filing came as a surprise. well, i think if you look at what happened to epic grand, that is perfectly what i saw the drawn back to expand that from one or 2 years ago . but what we're, we've, the most is not really what happens only to f, a grand. but if you look at to get the, what's the other cases that we have recently, for example, the country garden and also the jungle chest. a missed payment to us,

the like investors. i think this really shows that there's a power from brewing with in the like the property sector in china. and more importantly, if you look at the curious list that we see right now, the major differences that eric run may be considered as a highly leverage player and done or is not. uh, basically, regulators do not like it so much because of this the i left page. alright, for if you look at the country dot industrial managed to meet all the regulate, 3 requirement of the free red lines we're supposed to deem it to the cricket, the ss um to some of the honey leverage fair. so now basically we're in a scenario that we start to see from the good players as perceived by rec, latest begin to for there is indeed a stronger and stronger pressure in the property sector right now. so it does sound of course, so you make it sound like the real estate sector is in trouble in china. will this bill over into the broad or economy?

well, i figured in get a, if you can see the how big the real estate sector in china nowadays. and also the thing change is back to us of the sector. it can actually form close to one strip of the g d p growth. and this is why when we start to see this of the started rating home cells which affect the consumers sense and that will help us negative skill for you. fact to watch the whole supply chain. and that's the long distance of the developers as well. so therefore in do, i do think the can be like a quite as a free a spill. so you expect on consumers, sentiment, developers itself. and increasingly it may be the financial sector to so 30 percent of g d, p coming from the property sector. so how much of what we've seen from f, a grand and country garden, you know, among others, could be linked to china's so called shuttle banking system as well into i think the fed up, per se in china is quite well known for the high last ration so in the past of the

major sources of the funding can be the pre so, so like, um, uh, funding which they get from from buyers when they actually sell a home. but the, your, the, the cost of the tied to regulations done is actually pushing them to the so of course, the banking sector, because you can also from, at the moment is for a hot to raise of funding from bones. and also you're supposed to have to get money from the bank as well. and therefore this really pushed them to was, you know, what, that's a channel the, as it said, it's available even though it may be quite costly. so um, i think indeed um, from what we see recently in the trust industry, there's already looked up declining the explosion group, state of wisdom, distrust industries. so wait this and stop some of the trust to continue to have a quite a high score. sure. through the state because of, if you don't do that, how can you do a 20 percent plus your to the investor to i'm a trust funding, right. so i'm in, did i do think that there is that quite a strongly engaged just just some of this one with the high risk to exposure. now

it's really about where the china is able to isolate this risk address date and was in the father's financial sector versus, you know, some of the, uh, like the best cases that we have seen recently that was, that takes the senior economist gary and you can find a longer version of that interview at dw dot com slash business, or on the dw youtube channel. now, staying in china or the country's economic flow down and reco, jude unemployment are sending more people into the ride hailing sector. and that is hurting the livelihoods of drivers. take a look. the shanghai driver, john john works up to 17 hours a day to earn the same money he was making only a few months ago. working a regular shift he competes with an increasing number of chinese rushing into the ride healing industry. john takes on the equivalent of $40.00 to $55.00 a day through your business hasn't been. that's good. probably because of the pen

demik. in the past, i couldn't make money if i was a 9 or 10 hours, but no, i'm working up to 16 hours between the end of april and the end of july, some 400000 people begin driving for ride healing firms in china. this marks a 7 percent increase in the number of drivers. and let's say it's a sign of a subdued job market. you may, i do want to do a funding because of the impact of 3 years of the pandemic. many companies and small enterprises may have gone bankrupt or gone out of business. so a lot of idle labor will enter the market. there's also been a sharp decline in the number of jobs. in fact, from the perspective of right handling itself, it has some advantages. first of all, it has a higher degree of freedom than other jobs you have. going to do that for you. the china has more than $300.00 ride healing apps which accounted for more than 40 percent of total tax the trip last year. state media reported cities including shanghai, sonia and change shop, have now suspended,

issuing new ride handling permits. now to some of the other global business stories making use, australia is wine, industry is facing a surplus problem added as blaming chinese terrace on his trailing products aging. and pulls them out, the convo called for an inquiry into the origins of coal that the decline and wine exports has led to us a view open supply of wine, depressing great prices and wind revenues in australia. space x has both a small profit for the 1st quarter of 2023 after 2 annual losses. the company generated $55000000.00 in profit space ex has been spending communications satellites to space while preparing a starship profit, which will deliberate nasa payloads inspect to the number of building permits issue . if we knew german for new flats in germany tumbled by more than a quarter during the 1st half of this year, the german property sector is struggling with high interest rates and rise in construction costs. building permits are an important indicator for the german

economy. chinese cars made in germany. chinese automakers, one to take on the work in market by producing cars in the continents biggest car making country. china is b y d. the world's largest electric vehicle manufacturer is purportedly and talks with fordable buying. it's planned in southwest in germany . the state old s h i c, which has a joint venture with volkswagen. and china is also speaking of production site year high wages, an energy cost on stopping chinese investors. and neither are trade tensions between the e you on china. now, joining us with more is merrick's analyst, scribbles. sebastien. how good plans buy chinese carmakers to setup operations in germany? effect the china trade tensions heiser upon the well festival as many of us might be where in recent years and months,

especially if you're trying to trade the relationship has become increasingly unbalanced. so what we mean by that is that our imports have steadily increased in recent years, but our exports to china actually stagnates and then some sectors actually also go down. so if we see more investment by the chinese comment, because in germany, that could help to some extent, these, these trade tensions. because that would then mean that china is potentially sending us less of these high end goods like electric vehicles. but draw the producing them here locally, so that could actually be beneficial for you trying to try protections. all right, so that could help ease tread tensions by, of course, shifting production to germany. and of course, maybe that would also have a reputation, no impact for chinese brands here in germany and in europe. would that help them in any way? oh yeah, it would be a massive sort of strength for them. so currently,

many consumers in europe, us for quite a very about chinese vehicles, right at the moment. but chinese brands are trying to do is that they enter into cooperation with car rental or sharing companies like 6 so that consumers can actually test that product 1st. but they really try to avoid this image as like, new and up budget vehicles, but they still have been in the mind of many consumers. and by producing the vehicles here in germany, adults also competing directly with our d. w. msd spends competing and one of the top this call markets in the world that would really send a signal both to your consumers that hey, chinese brands, can we make it here? but it would most likely but the rebuild the rates and also send the signal back home to chinese consumers and shows that next the, you know, what our uses can make the markets in the world. right. well,

you mentioned their electric vehicles, for instance, that could potentially mean that chinese firms, automakers would benefit from state subsidies in germany. now just how would that affect, you know, the, you know, the politics in germany when it comes to tiny's firms receiving states subsidies. so yeah, well let me, let me 1st say it would kind of put chinese and german companies on a level playing field to some of the great because german companies in china have loan benefits is from subsidies from the chinese government drive, tax cuts and additional subsidies for production on the so in a way this would actually put them on a level playing field. and however, i think it would really re ignite the debates about china and our relationship with china in germany. if we see that chinese call made because of the subsidized to produce here and also compete with our co make us at a time when the german government, which has just released its china strategy

a month ago. and it's really dumpling, down on the risk. and that was just in case nobody from china that would really send mix signals. but on the other hand, many uh, misled um and also either your pin member countries they have read when they attract more investment. right? because ultimately, if the chinese comic is producing this is also creating new jobs, right? so they use a certain incentive to subsidize them, but it could also really sheets up the debates in germany a more about what sort of relationship we want to have with china going forward. well, that sounds like it's going to be a very tough balancing act. so greg, oh sebastian from merricks there. thank you for joining us. thank you. and that's our show for me and the entire business team here in berlin. good bye and take care of the

business. the news will tell you. we are happy that we are boxing. this story, we have a getting a visa is more difficult than finding gold hosted to use the dream force and for the future in the stories industries that are being discussed across the country. news africa on the w. w dot, the silver the from the key. those are still good point. it's almost sort of i ordered for a $120000.00 rupees. he couldn't believe it's still farming, wasn't the solution off to the collapse of cotton production which hit the village of really hard. i've left the way now self sufficient and not dependent on others to money be to india in 60 minutes, d,

w very well today. it will make for janet justin, janet loved fear and binding things away from the fund. i'm not even allowed to go to my own car and everyone was later holes in every single day stuff. getting you ready to meet the driver and then join me right. just do it on dw, the. this is dw news in africa coming up on the program. as many canyons trade the personal data for money, their fears they being digitally exploited. kind of government steps into stuff. a mass data gathering exercise run by the us rental car is the company. aspect of specifically the concerns from critics has been crypto colonialism. a phrase used to describe the use of the most vulnerable people in the wells as guinea pigs for emerging technologies. and systems also coming up on the show with zimbabwe

selections just days away. well president emerson went on guy.