so i think i'm going to and you're the man for the job. he does have history on his side. new presidents and the motives, recent history is managed to secure reelection. tony chung out as 0 money for support. now the new zealand old backs have crushed. it's leading onto $617.00 that the rugby world cup. having lost the opening game to from someone who is a fully fine one. but it will, dec, scrolled 14, tries total. then in fact, take me the, this is all just here. these are the top stories, at least to 52 people have been killed in the plow start to religious gathering in must on the pockets. tony proven so, which is done separately. at least 5 people were killed in the explosion at the mosque in the city of hungry, near shotwell. not in nations is wanting that the number of people fleeing going

a car box could set cost 100000. i think on millions or streaming out to the region within the week of the as the by sean to control and a swift ministry offensive media says about 2 thirds of the population has left while the 19 nations is to send a mission to they're going to kind of we haven't had access their 2 bucks in about 30 years. so it's important and it's very important that we will be able to get in . we will going through uh into the air from us or by john. um, while they are the team will seek to assess the situation on the ground and identify the humanitarian needs with both for both people remaining and the people that are on the move. the us presidents joe biden is staying in washington dc over the weekend to trying to book a possible federal government shutdown. congress needs to agree on

a new funding bill by the end of this month, if not thousands of federal employees will be sent home. dianne feinstein, the longest serving female member of the us senate, has died at the age of 19 the california democrats was known for supporting bills on gun control and the environment she had been on well and was planning to retire the end of her time. next year. of nearly 3 decades amount has been charged with the 1996 shooting of us rafa to pack soccer according to local media police. opposite you have to have arrested doing davis. he's long been known to investigate isn't, has admitted that he was in the cotton balls and the drive by shooting jekka was 25 when he was gone down in las vegas. well, those, all the headlines accounting, the cost is up next to stay with us here. announces here. respected janet

is this street in central concave shows you how devastating the effective russian bombing has to be. i can see where 2 of the bullets hit there about my head highs. name with the documentary military wanted him dead. the still manual believe we were in a property on a road costing out a 0 english proud recipient in new york festival through cost are of the year award for the 7th year running the zillow and 0, then yay, this is counting the cost on elsa 0. your weekly looked at the world of business that economics this week. one of the china is biggest shadow banks is in trouble. so what are those financial firms and what risks do they oppose to the chinese

economy? also this week the syrian president wants to end his nation's isolation, as many blame him for the free following economy. plus it's called yellow, as demand for uranium continues to increase the price of this commodity use. the nuclear power is soaring, the it includes gigantic financial institutions. china is secretive shadow banking industry is worth more than 3 trillion dollars for perspective. that is roughly the size of britain's economy. but after years of exponential growth, several firms have defaulted on billions of dollars of payments to investors. in recent years, the chinese government has clipped down on a risky lending to limit the risk of contagion to the wider economy. and now concern is growing again about the financial stability of shadow lenders. it's on your own. one of the country's largest trusts mister payments, the clients in august,

a pretty big warning sign. and the company then signed an agreement with 2 state owned firms to help solve those problems. that was 2 weeks ago. sean young managed more than $87000000000.00 worth of funds for corporate clients and wealthy individuals as of the end of 2022. it says at least 11 percent of its assets are invested in the property sector. so just before we go to our guest and try and figure all this out, let me brief you on what are shadow banks? exactly. the term was coined in the us a little more than 15 years ago. it refers to financial services that are offered outside the formal banking system. unlike traditional bank shadow lenders, including trust lights on young, well they're loosely regulated and that means that they can lend more easily to more people, but their loans are guaranteed, as we're finding out. and there's less transparency. so it's also hard to know how much debt there actually is. now for decades, the chinese government has bailed out many shadow firms when they've been in

trouble and they were seen as a safe place for a wealthy chinese to park their money. you say, trusts mere investors by offering significantly higher returns on their savings than banks do that brings in a lot of cash shadow banks, then lend that cash to companies across various sectors of the chinese economy, including the property sector that include real estate developers. but china is real, estate market is now in crisis, so the borrowers are struggling to repay the money that they borrowed. alright, redmond one joins me from hong kong. so you're the greater china market, strategist, that sax. so we have now reached the point where some shadow banks have not been able to pay their customers because they themselves are not being repaid by the people pay less money to. how concerned are you by all of this is the concern. and i think the problem at the moment east to

a certain extent is the content that one of the reason is that these uh, i'm gonna see is 32017 china. i launched a campaign to the last person you call them. the 1st is on the charlotte balcony, c circuit, and then a property sector. and then the guy inside that part of the part of the se, d, leverage the economy. educate us. what is that basically is one to do mean that the financing and use is not let them grow so much and used to be deal with the financing for those channels. and i mean, they have not been very successful with to limit the financing for the opposite the sector and also the local government. those have still been growing, but they have to make some such that's actually even reducing the size of the shadow banking sector. so the number one, number 2, and this

a kind of big difference between the us. ok system and the china one, the china, one actually most of the p e. so do you use that? those money coming from the all packing sector? is the banking start to commercial bands, they want to do that good. a trade off the truck basically to try to be use of the loophole so that they can then at high interest rate, they can also make some money. i charging these all those management wealth management product to help the cost to keep the costs of the least the money at the bank, but not already in the deposit that you pay very low interest rate is the master in those of managed pro management products in the back has to make some money. and so they are actually, i did most of them. so now i think the chinese government try the process to lose my car because these, these lending in the show, the brand new system act to the follow pennies as well. so uh yes it is. okay,

but you still got is not our control yet. okay. and that goes back to what you're saying at the beginning. that right now the risk is contained again, and i'm kind of asking you the same question here is how much risk is near systemic risk to the entire chinese economy? i ask this because obviously the, the bill most of the 2008 financial crisis is still with us. and we all remember that if one bank fails, if it's a big enough bank, then there's going to be a domino effect. and so many other financial institutions are going to fail and it's going to put many ordinary people in trouble. what's the risk of that here? i want to rack if size of the shuttle back into somebody, not $1.00 and $5.00 treaty and you're talking about the co, the co a month. oh good. that's true to non financial sector. the china is a copier just sort of the treaty and so they still need the shuttle paintings on getting knocked around 12 i 77 percent of that muscle band. and so i kind of was 65

percent sort of a muscle band and se, as i said, we did the chinese finding solar system. so some of those we get something also slate on back to the going back to the, to the emotional backs. it's not the study, i actually are the customer on himself and those national banks truly the shadow bank, true there for the top of you went out to the local and then i financing, we call it. and so to some of those are the prices, you know, not the credit so. so um, so i understand. so the record paul, uh paul uh, size of the sort of a battery system to. ready the system so um, can we start date possibly can i saw i and the china is comedies and like need to pay their mouth, but they pop it. oh, okay. those south so or the restructuring. so on time to what so about that, i want to ask you because you said the word mailout. sean young. the trust that

we're talking about recently about 2 weeks ago, signed an agreement with 2 financial firms that are a link to state owned companies. is that a government bailout, the hidden government bailout a partial government bailout. what does it we don't know yet at the moment, bull posted to pick trust. and also the cd trust is he'd be trusted with data to the child that also trust company. they have pop the shuttle packing system and create a part of their my, the formal back on the exec data. and um, so the data i quoted you directly my, they will go into a tool and then use that, you know, people for an operational at that both. and so they control and that they are not pick uh pick a go for the s s, i think the i may be acting on behalf of government and director. they just that's pretty much for sure. but it's not bad. oh, yeah. because i think the knowledge, the lift gate, redmond stay with me because i want to run our viewers through

a brief statement by showing young earlier this month. it said that some investment products were unable to be paid on schedule, direct quote, they're unable to be paid on schedule because of multiple internal and external factors. it did not mention whether investors would be getting their money back. the dozens of angry clients held, we're protest outside the company's offices engaging in august. redmond, just as a reminder, we're talking about people, you know, who bought some financial products and expecting a financial return. and last month in august, they did not get their returns. so they're justifiably pretty angry. how do you read that statement, internal external factors? i mean, is the internal factor basically says the course happy thing. so i think he's not yet. all we need is cost saving much as was for information. and that's what i'm saying. now let's take, take ncc the truck, uh, go into the company to the boat,

and i have to go through the assets. but i think to try and see because these go to the, to the, kinda what was the record. i had to come up with some comp restructuring pad full. i don't go so he still remains to be seen but that, but all right, great. can we take something we have to do something last. i think how much of this is tied to the property sector. i ask you this because i think even casual observe is of the chinese economy. i am among them who will understand that the profit, the sector drive so much of the economy over the last 2 decades. people have been investing real estate developers and you know, private individuals have been investing in prophecy because the price is going up. but now prices are following the really key pockets. we did the frontage, treaty and the and i even add those along to the list. and among those, i think these are all nice on the estimate is not already. i mean, i'll be sol already. i create number,

it's not like 18 percent of them. i'll probably use. i'm under 2023 then. so is that all 3.5 people in sex radians from the shuttle banking system to talk company as a lot for different products or so. yeah, i mean is the property and they are the knowledge and these are the for the stress, the fact uh, payment. uh we payment to those uh, investment products and the factors are the banking system. redman wong. thank you so much for joining us on the program. today you are the greater china market strategist at sax, so thank you. i think it is 0. the syrian president, bashar assad, has regained control of the majority of his nations territory. but after more than 12 years of civil war and western sanctions, syria is now in a deep economic crisis. the majority of syrians live in poverty. more than 70 percent of the population needs humanitarian aid. as the cost of living rises,

vulnerable households say that they have had enough. hundreds of people have protested mainly in the southern city of sway to demanding president charlotte side step down. now this provinces, the heartland of syria's drew's community, a religious minority which had largely refused to align itself with either side during the nation, civil war. the protest of now entered the 2nd month echo for 2011 uprising against a sides route of the syrian government blames its economic trouble on western sanctions. but many protesters and sway to blame the government. for 12 years, we endured a difficult and disgraceful life. the state has been dropped. i ask you bashar assad, when will the people of syria be able to live in dignity? give them i'm of those living in coastal cities. i tell you, don't fear speaking loud voices. and if you can,

because of the shores dogs come to sway to where you can speak freely, the protests were sparked by government measures aimed at boosting the economy. they include slashing fuel subsidies and raising gasoline prices by nearly 250 percent. the government has doubled salaries for public sector employees and raised the minimum wage to help cushion the impact of raising prices. but the raise would only be enough to buy a 3rd of the essential food that the world food program calculates. a family of 5 requires each month. critics of the syrian presidents blame his measures for accelerating inflation and weakening the syrian pound. the currency plunged to a record low of $15500.00 pounds to the dollar last month. it had traded at $47.00 pounds against the dollar before the war. it's joining us from wellington in new zealand is power. i'm shar and economist, and a senior fellow at the new lines institute. sir protests have been mostly in. so wait a why is that? is that part of the country more impacted than other provinces?

i think when it comes to living conditions, the situation in this way that is as bad as it is. in other words. ready health areas, i think what happened in sway that continues to be contained there more for social and political reasons, dan, for economic reasons. the price of oil, the price of fuel has been multiplied by more than 3 recently. but here's the surprising thing about that, which is that syria used to be an oil producing country, and now it has to import it's oil from mostly iran. how did we get to that point? well, do do a combination of reasons. so most of the oil fields are currently at the control under the control of this year and democratic forces in the, in the northeast. and the fields that are under the control of their, his name has been badly damaged to where the conflict, primarily because of the bombing from the international coalition against isis.

and basically, the syrian regime is unable to fix these oil fields and continue the level of production. so most of these fields at are operating at production like a production capacity level, that's maybe 20 percent of it's a pre war levels whose fault is all this because the protesters blame the assad government for mismanaging the economy and the assad government says it's actually all to do with the western sanctions on the economy, it's obviously it's extremely complicated and there are a combination of factors about i think if i had to rank them i would say that the number. ready one reason why the country is struggling at the moment is that it starts every of this here and reason. the reason the country reached to this stage is above all because of the level of violence exercised by the syrian regime.

however, even as the conflict and the level of violence, when what happened was the opposite of what you would expect in other context, the economy deter, rated further still. and that is because of the economic mismanagement of those in there. he is not allowing either these own cronies to operate in the business sector. it's imposing a fines on them, trying to partner with any remaining business that still generating profit. however, obviously there are other factors that contribute to the current living conditions . sanctions is one of them, but it's definitely not among the key contributors to what's happening right crumb stand by. stay with this because there's another interesting part of this puzzle that we want to mention, which is that china as president choosing thing has recently offered to help rebuild syria. that she met the charlotte side of the southern chinese city of the hinesville, which is hosting the asian games. at the moment. assad's rear visit is in an

attempt in more than a decade, a diplomatic isolation. also note where the, the syrian president has recently re established ties with arab nations. that once backed his enemies, the syrian rebels car. and we mentioned all this because it raises the question, could this be a lifeline? i mean, chinese economic re engagement arab economic re engagement with syria. could that be a lifeline for the syrian economy as well? first, regarding the recent track personal on from regional countries, that seems to be old. but that because this, their energy failed to provide anything in exchange for that, the phlegmatic recognition and the promise of economic aid for china i sent all the time that he's doing at this stage is basically just waving the syrian card in the face of the west. and saying, hey, that's one of the cards that we can actually use. there's this region that you

despise, that you're trying to isolate, we can rehabilitate that and work with it. i highly doubt china is genuinely interested in investing in syria. the china has a long history of giving promises and not following on them, not just in syria and iran, for example. you remember 3 years ago there was the promise of investing over $40000000000.00 in infrastructure projects. and virtually none of that actually happened. so if you look out during those investments and in other sanctions, countries in africa, se sudan before the downfall of the machine regime or in zimbabwe. china does invest in countries heavily sanctioned by the west. only when there is enough certainty about the political future of there isn't in syria that does not exist. i'm trying to realizes that. so i highly doubt they wouldn't be willing to take any risk by investing in the infrastructure projects that tend to take many,

many years to come to fruition. okay, so if there's economic mismanagement, there are sections of the outside world right now is not going to help or as you've just explained, are there any silver linings here? is there any reason to hope for the majority of silicon syrians were living in poverty, and i must admit, i'm not optimistic at all the only way out for the country. the way i see it is through a political transition. and the, the main obstacle to that policy can transition continues to be discerned routine, hopefully the charlotte that refuses to budget refuses to give any meaningful political concessions from big one since march 2011 to date. and because of that, i think the living conditions, the economy with all the continued to worse than our current shar and economist, and a senior fellow at the new lines institute. thank you so much for joining us on the program. thanks for having a demand for uranium fell drastically after the 2011 nuclear accident in japan. and

that's because dozens of reactors which rely on uranium across the world were forced to shut down after the meltdown. but the $10000000000.00 market is now making a strong come back. price is stored to their highest level since the focus she may disaster recently, industry experts or warning of a supply crunch that could push costs even further up in the coming years. let's have a look at the numbers that we're talking about. prices for uranian, jump to nearly $66.00 per pound over the past month. now compare that to the one off peak of almost a $140.00 a pound back in 2007. the uranium price is slumped down to the range of about $20.00 after the superhuman disaster for reasons that we've explained. and then they went up again following russia's invasion of ukraine. moscow is the world's largest and richer of uranium, and the war has also raised risks to energy supply chains. a rush to secure

alternative supplies to russia's orland gas has pushed up demand for uranium again . so the push by governments to go green countries around the world are ramping up nuclear power capacity to meet their 0 carbon targets. the world nuclear association expects demand for uranium to nearly double by 2040 alongside prices. the stocks of uranium miners were also rallying by joining us from paris to shed light on all of this is poles door for me and you are the founder and chair of the nuclear consulting group. you're also an associate fellow of science policy research unit at the university of sussex. so we've outlined the reasons why demand is increasing while the supplies not quite matching demand. so it makes sense that the price is going up. that is going to continue for the foreseeable future, correct? the necessary way to say that a 5 to rate invest the space potential for the risk. and that's because, or this,

based on the idea that in youtube could quickly help with the colonizer but according to the u. k, government phone bugs, which is a strongly pro new to paper to bottom. and it takes up to 17 years to build just one nuclear power plant. so the significant questions as to whether this will continue. um, what does this mean for consumers? because especially since the start of the war, the ukraine war, consumers will be keenly aware that when the price price is of say, electricity goes up. well then, you know, their, their cost of living becomes a much bigger problem. so is the price of uranium goes up and uranium ultimately is the source products and making electricity in a fair few countries. what will that mean for consumers when it has to be understood, colored stone, which provides 42 percent of all when you random will wants to react as well wide.

for the uranium goes via rushing quotes, and not in boxes. there's no question of in bothering pentium fast coffee at the moment. so there must be strategic political ministry questions associated as well as the one that you've alluded to, which is cost. basically in the short term, this wouldn't change very much for, for consumers. the key to all of this is the new trend needs fos subsidy to be built, democratize flight new. you get lots usually is being built in commodity control states while the light china. well, what about it? well, i was going to ask you about countries like russia, china, india, which apparently are looking to nuclear as sources of energy in the medium term. that's absolutely right. it's not really the medium term, given the fact. the fact is that the number of states,

but clearly that it takes up to 17 years to build just one nuclear power plant, 17 years. so we must ask the question, do we have time? do we have the money for new care? but in terms of india, china, russia, india is depending on russia. we know what the symbols in terms of the con climate . there's a few outliers, the u. k. as usual, who is not a problem and is potentially thinking about. so there's a few sort of outlaws and tons of new here, but actually when one thinks about to net 0, the international energy agency states very clearly, renewables will do the heavy lifting for net 0, the energy transition. what's the single biggest thing then that you want our viewers to remember about this when they're thinking about uranium prices and what you said about, you know, where things are headed in the short to medium term. in the short term view is probably a good bass, but then the model, you know, we know that model is based on believe in boss. a way to say say that the risk

associated with this. mm. but the market is the market. the reality is where we're going with net 0. the reality is, is it, unfortunately, but you might need to or you don't. it seems very likely that nuclear is just too late for the climate of the energy process. meanwhile, renewables is 14 ahead in us. it is a power little kind of way. so what it looks like very clearly is that the renewable evolution is here. and uh, okay, really interesting parting thought. thank you for your insights paul door for me in founder and chair of the nuclear consulting group. thanks for joining us. and that is our show for this week. get in touch with us on the next, formerly known as twitter, at venue, a serial, and do use the hash tag a j c t c. when you do or drop us an e mail counting the cost announcements, your dot net, that's our address. but there's more for you online at alpha 0 dot com slash c t c

. that'll take you straight to our page, which has individual reports for links and entire episodes for you to catch up the edited for this edition accounting, the cost times several venue from the whole team. here in doha, thanks for joining us. the news on alice's 0 is next the vague, i mean, the artificial intelligence has altering the political landscape. how can we, as humans trust to you, the machine's trust is, und not given as and defended from the comfortable power for i believe it's important to build trust through transparency is communication between humans and

machines. but do we know that you're not going to lie to us? no one can ever know that for sure, people empowered investigates a democracy on a jersey to the new york on areas around it. under a states of emergency off the terrestrial range. i get slash slots. ok out some way, not to name slides the periodontist and this is all just there are a lot from to also coming at least 57 people, the kills off the bombs ripped through religious gatherings at most 2 provinces are focused on.