the school most designing refugees, the coming, the actions of the military invitation has been described as the closing of the hello on the bulk of this discount of the costs of that, which is 0 weekly though, because a lot of business and economics this week breaks is expanding onyx cloud looks to be growing, the bulk of developing economies wants to come to balance west and lead institutions, but kind of re shake the financial world or the one surprised spot in china is economy. the real estate site to is now tracking down its growth aging has taken

major steps to stabilize the market for will they would take jobs upcoming nuclear . we look at why companies are increasingly tapping into atomic energy to power that data sentence the names to become a counterbalance to the western lead weld order. and the voice of the global south bricks almost doubled in size in 2024. and this economic and political influence is expanding. the group of emerging economies represents hoff the world's population. i'm more than a quarter of global g. d. p breaks largely wants to reduce global reliance on the us dollar. among the top pledges at this year's summit and russia, boosting financial settlements and local currencies, and examining the establishment of arrival to the swift international payment system. the wall bricks has big plans for further expansion. critics say the differences between members could place limits on what it can achieve,

their shop of oliver. how's this cause that among the most important topics on the agenda at between to 24 brick summit in the russian city of cuz on the side, the expansion of the group and the creation of a new payment system within this framework. really sure your ensure the for miss nicole increasing transactions in local currencies makes it possible to reduce debt repayments increase the financial independence of bricks countries and to minimize the geo political risk freeing economic development from politics as much as possible. brazil says crazy. a new banking system will help reduce commercial costs automated to make. i need them to put the berks new development bank will establish credit lines and local currencies, which will reduce transaction costs for small and medium sized enterprises. deadlines now includes 9 countries. this yeah, brazil, russia, india, china and south africa. welcome to ron egypt, e c o, p a, and the united arab emirates, as new members, brakes represents a significant markets combined. the population of its members face is more than 3

times that of the g 7 countries. that accounts for more than 35 percent of global g d p compared to the 50 percent held by the ju 7 rates countries of rich and natural resources from coal, oil and gas, the gold diamonds, and let us minerals. in addition, rush office, alternative transport rates, such as the aux 6 theories to increase profits. iran has proposed in your network for energy, transportation, and russia has offered to set up a great exchange which present peaches as will help create that and predictable price indicators for rule materials for it's paul china expressed a waiting list just shrink from the global south because putting the, the sun found the show we have taken the right path of building relations between great powers on the principles of known alignment on confrontation and not against the countries go with the participation countries, residents to coordinate that efforts to create

a multi polar world. the world of breaks the global economy look set to grow, you to ship all of the cars on o g, a 0 for counting the cost. so what is the brakes? well, in the early 2, thousands, brazil, russia, india, and china or break were identified as a leading group of emerging economies. those nations got together and how the 1st time is in 2009 south africa joined a year later turning brick into brooks. in 2020 full of the group on the went a massive expansion around the united. i remember it. sci fi over in egypt became members of sadie. arabia is in the process of joining laser thailand, kentucky out. also seeking to join the blog and now makes up more than a closer off the global economy and consists of daily cost of the world's population. compare that to the g 7 group of advanced economies, they make up 44 percent of the world economy. just 10 percent of its people. the block is made financial cooperation, a major priority. the new development bank has funded almost $33000000000.00 in

loans since 2015 and trade between members states to serve as more of a 50 percent since 2017 states are exploring ways to move away from the us dollar and trade more in local currencies. well, joining us now from john, his bag is gustavo to come, although he's a senior of a such are in the south african institute of international affairs. i probably will welcome to counting the costs. let me stop by addressing back all important summit . and because i'm in russia, the 16th brick summit and the optics were rather interesting, i love them, it puts in the heart of it all. it seems to suggest that the isn't as isolated globally as perhaps many western powers hoped he would be. absolutely. thank you very much for the invitation, and i think for i should for a large degree, they hosting a break summit. june 2024, provided them this space to showcase the not as high as

a late to the they still able to engage with a number of countries in the world. and it is something to pay the normal for countries to do. i think for other countries that are members of brakes or joining true to different emissions, is that a recurring this weekend because of them is a, is a much more important space for them to find better ways in which they can engage with these fragments of global order and reduce menu of the fractions that are becoming more and more common waiters in terms of the ability to trade. well, whether using terms of the or on ability to present that for the native voice ending to national institutions like that. i imagine that while bank and increase that you saw was the one security council as well, with an interesting message regarding security council reform. this was the coast, the 1st summit since the expansion of the brakes. uh organization. i wonder or not whether or you think it's likely to suit the vision or it will strengthen their

what can i say sion having so many new countries clamoring at the door to become members? very important question and nothing to some of this you really helped us to get a better understanding how the new members are adjusting and adapting to disability and former group of countries. that is brooks to a certain degree. i think it all comes back to one of the cool mechanisms that breaks kind of is used to make decisions. that is true consensus. historically, we've already seen with the original 5 briggs members. that's the idea that they have to agree to disagree at all times is an important space for that you'd prioritize and identify what is really important for them. so just certain degree, i think with the addition of new countries, really forces breaks to find those minimum common denominators which to one on the one hand it makes them to become a bit less revolutionary in terms of the decisions that they make. but on the other

side, it allows really, for countries that have different economies, limited complementarity and often bits of arrivals between themselves to find those areas in which they would like to engage. and so have breaks is a voice for them to really support uh their common objectives and to a certain degree. what it means is the wonder is severe disagreements between brakes members. the idol will take that issue, continue out of the agenda, or the you to the no way that provides those diversity of voices to actually be presented as a common position. given the bricks, countries account for almost half the world's population. i wonder if the organization increasingly sees itself as a rifle to the likes of the g. 7 all sees that instead of perhaps working in power though, i would say. and if we look into the cause, undeclared ration that was announced yesterday, if we look into the language that was utilized, it's

a language that talks about the complementarity between different for so we see very early in the declaration breaks countries talking about this in charlotte to yours off, they're all of the g 20. what i do believe is that increase, you re gonna start looking into this triangulation of use between g 20 a, the center where the number of rigs, kansas are also just to 20 members. briggs under one side in the g 7 that the order and i think there is an opportunity in terms of global governance in the future. we need to acknowledge that is 3 groups as informal and as a diverse, as they are the play a major role in terms of managing, of international economic and financial governance in terms of voices of different sets of countries. and that dialogue between those 3 in a box, the fact that it's very difficult to do on a day to day basis, but it doesn't make it less important. we need to see them less as rival,

but as complex regroup. things that are looking for very similar uh, decisions to be made from different perspectives and tell us about the brakes, deepening financial corporation. because as i mentioned in the introduction, that seems to be on a mission, at least to perhaps couple the dollars global supremacy and international markets is not the underlying aim or is it about strengthening economic ties within the group itself or both? i think the result in this misconception that one breaks and presents walking about finding the local currencies that they are necessarily talking above atrocious, of delights ation to a certain degree. there is a consequence of issues that are important for brakes. members at this moment that makes international trade very risky and to assess and degree many of those optics is to a certain degree to increase their financial transactions between groups. members, brakes is not afraid. lock buddy easily looks into training for structured. so what

are we looking to the decisions that were made this year, whether is in terms of the brakes for across the board or payment system that had already be requested in the johannesburg summit's of 2023, across the board of settlement discussions that won't be a go into each has a re, insurance based what receipt here is to provide brakes. members, an ability to better trade with one another and not necessarily to replace the us building and all of their transactions. but that's what shows in degree provides cheaper, foster and more reliable payments of systems in some specific trading situations. and particularly when breaks country is a training with one another. and of course, that is very much linked to a level south countries like some of africa results that see themselves right in the middle of these global geo political disputes. for them, they would like to have more options for countries that have been affected by sanctions. and the inability, like in the case of russia to trade via swift,

this is not an alternative for that. this is the only option of the main auction today. listening to the moments. and i'm saying this because it's important to also notice that different breaks members, nothing to those discussions at different levels of different objectives. and that tends to temper to a large degree, how much and how fast the brakes is able to make some of those decisions. okay, gustavo, the commodity of senior research or the south african institute of international affairs. thanks for joining us and comes in the cost of fascinating discussion. real estate once accounted for more than a quarter of china's economic activity. but the sector spiraled since 2021, but regulate has cranked down on the firms that have taken on high levels of debt. tens of millions of housing units and now vacant either because the unfinished, well i'm sold, the market collapse has taken a bice half of the wealth i'm confidence of chinese household has been blamed for

holding the nation's economy back. china has recently announced a new round of measures to stabilize the housing sector, have the overall economy, but well the stimulus plan work. since amount of have reports, as the population of the chinese city of han has doubled in recent decades, new residence house and a sea of skyscrapers stretching out across the horizon. but there's more here than meets the eye. many of these buildings aren't fully occupied. others are only partially built for aspiring home owners. prices are coming down, but many are reluctant to take the plunge emil beyond shore should people don't want to go into decades of that just to buy a house, especially for young people who don't get paid as much. so i'm not thinking about buying a house at the moment and i can't afford to do so. it's not just homeowners who are concerned about that. construction companies, fuel china is building boom by borrowing trillions of dollars with demand low and interest rates rising. many are now in deep trouble. the housing market surged in

the past 2 decades growing to make up 25 percent of g d. p. construction firms were carrying massive debt and the government sold this as a systemic danger. regulators cracked down in 2020. that led many companies to default, and countless construction projects were left unfinished. the ever grand the company, the center of china is real estate crisis collapse in january the depths of more than $300000000000.00 in september it's chairman resurfaced in detention camp and the southern city of tion. john. but these kinds of punishments may be too little, too late for a vital part of the academy, but now seems so insecure. nonetheless, some economists are confident, new technology can pick up the slack on top of what's a committee. and so i think the real estate problem me, will hon is not particularly serious coupled with the rapid development of new industries. i think hines really is, the issue is controllable. but honestly,

the real estate sector stuff have quite a lot of problems you're putting out. the government is taking action to control the crisis. it's made a white list of projects eligible to receive more financing to ensure unfair construction gets completed. that list is being expanded as looking to increase bank loans, those projects to more than $500000000000.00 by the end of the year. it's also cut benchmark lending rates by 25 basis points. even with this, the mass caused by china's real estate crisis may take a long time to fully unravel bins moment l g 0 for counting the cost. joining us now from beijing is david mine. he's a political economist, founder and chairman of mine, china investment management, a viable and welcome to accounting the costs. so the chinese authorities recently pumped half a $1000000000.00 into the ailing property sector, including lowering the key lending rates. a raft of, of the other measures as well combined. will any of this make a difference?

do you think it would make a difference? but, but it really concept with the other reforms that have been implemented and they actually coming up daily. so there's a, a raft will come and they relate generally to encouraging the consumer. they have confidence. there was a major change now coming to the stock stock exchange. john, his capital markets will be more attractive to domestic and that just as a whole 7 to national investors, i think the government's realizing that it can't depend again on the property sec, there was a did. so it went to allow the real estate sick to, to be as high as it was in terms of comprising the gd, be of china, and certainly g d, p growth. so i think it's been a political move to try and cut funding to some of the more unstable b amounts in the system. i should've got to use beforehand, but they did it. and i'm sure think the stimulus is probably 8 months later that that sort of thing, but not some place. so there was

a change. i think people are beginning to realize that the government is acting in a positive way. and that's really good. it's about confidence. oh, i understand the property ownership in china or is perhaps the highest the well some estimated to be somewhere around 90 percent. it's catapulted a huge numbers of chinese people into the middle class. i wonder, given all of this turbulence, what happens to be aspirational pops of chinese society, the aspiring middle class as a now facing difficulties in the short and long term? i think that's right. i think those with us here. and of course, the reason the such a high we sure of homeownership in china is that a generation ago, a generation and a half ago, essentially millions of houses were as well gifted by companies to their employees and stay targeted enterprises passed over the apartments they owed to the occupants for very low prices. so you have a home get

a ration of people who didn't have the safe to buy a house in the same way as other children do. but the children have gone because of the one child family this um they say there's 5. well that's the 4 grandparents and the spouse. so those cash for people to the middle class, they still acquire houses, to the issue which one the confidence says you've identified and the people with the assets that we have system right? that the chinese middle class is about 400 immediately, 400000000 people. there are still $900000000.00 people in china, but in addition to $300.00 a month, this demonstrations that matter most and then working and struggling to improve their lives. and the play the way that china restructured. they have been coming to an authorized very quickly. they moving from towns to cities. so the energy of people coming in from a low base of society is also going to set a lot of this exist housing capacity. so these,

the dynamics i still have right much behind the engine of the chinese economy just as they have been in the previous 3 dictates, such as typical time. but it's been resolved naturally as we speak by these market . and demographic forces. what you see is the, the water impacts on china's role, the economy, and also the global economy. these ripples on the housing market shortly affecting other sectors of chinese society. i didn't either buy well connected global market to that's true. um, the career construction sector. that's a huge problem. uh, building materials, uh, the sale of costs. you know, you, you buy new apartment to lease a new some of those at the fringes of these cities. and they were being built for the structure to be able to park cause they've got good road systems. and as long as people are getting into those departments, then of course cost sales are up so it has wide verification. it also means that because of chinese helps of say so much, you know, there's a 40 percent savings,

right? the highest of the. well here, they're all sitting on low cash. and the trick is to try and give them the confidence, make them less afraid of the issues they face and all right, well, generally she's cost of education for the kids. the, the cost of, of health care beyond the base 6 that is provided by the state. so to gives people confidence to spend, it also means you've got to improve the welfare system of china. that's why people are sitting on cash. so many areas which the government needs to act in at what's to resolve the issue of confidence and then in a sense, purchasing and investing in real estate is a product of them recovery of confidence. it's not really a real estate crisis in itself. it's a confidence crisis. david bond political economies founder and chairman of mine, china investment management grades and have you encountered the cost you cut off

the official intelligence query consumes up to $10.00 times the energy of the google search. goldman sachs expects power demand from data centers to grow 160 percent by 2030 type jobs investing heavily in a i know dashing for nuclear energy to reduce their emissions a meet climate targets. suppose of atomic power, say it is a low carbon and available around the clock on by wind. and so i bought critics a large ponds, a costly and take a long time to build companies and governments. and now looking to small will modular actors as a cheaper and faster alternative. microsoft has agreed to pay an energy company to reopen the shots of 3 my either nuclear power plant in the us state of pennsylvania . last week amazon and google site. they were buying power from developers of small, much of the reactors for essentials. that technology has not yet been commercialized. but experts say it could be easier to build the launch dukes that react as joining us now from paris as pull dolph been found and shy of new clothes

consulting group affordable and welcome to counting the costs. especially while tech companies increasingly turning 10 you can it's just understand it's difficult to understand. i mean, the key sort of this is where we are with, with power, 86 percent or new power generation capacity in 2023 worldwide. put down was renew with nuclear nowhere. so the wind and battery amounts to about 95 percent or power capacity waiting to be connected to the grid with nuclear about maybe one percent. so there's an issue as to why big tech, which likes these kind of uh, resolutions. oh so you know, amazon, google, microsoft rolled announced they, they quite like the idea of us amongst the problem with this model. so robin liked

the problems with the nuclear. uh, basically uh they will actually develops that logically announced redevelopment, early development. not in construction. the possible put on of, of one as a mon, i mean in terms of generation will be about 2035, which seems to be too late for climate, for energy to moans. so in a sense, it could be a way for big tech to magic away the consumption power consumption problems with an s and my concept in order to kick the problem down the road for a decade or more. so i think as well as potentially combining different uh, sources of energy, whether it be renewable is along with the nuclear power as well as a little bit too soon to be putting too many eggs and one new killer basket. yeah.

well, i guess um, but the problem with youtube is the voice seems to be very light and very costly. uh, you know, the largest s m a in america was new scale. and that shit trucks are lost. is it easier from nuclear in the front? so, you know, the largest nuclear power has scrapped its own a similar design and will restart to gain. so this, the main problem with nuclear, whether it's some or large, is time and cost. and as we've seen, we've constructions, worldwide. the costs always seem to run. and the times always seem to, you know, gate, meanwhile, renewables, a pushing down costs, quantities of power on time and on cost. so essentially the problem is, uh will you to each

a lot of the pi c in the box cost of nuclear. and that's not simply construction, but also let's not get to waste, which is not result to a certain extent, really task pushing to, you know, take a lot of the funding, the money that we need in a increasing the source of world for a v. v energy pub in the energy construction that we know will work just basically renewables, some of the hydro, just them of interconnection to modified management and storage. so you're suggesting very clearly that it is always cost efficient, that it could take an awful lot of time to, to set up these on patients. maybe a little big as a moments. nevertheless, some countries with the capital and wherever the whole and labor at least to push forward companies like china appear to be leading the race. we know also the ticket has been trying to build reactors. we don't know how successful those attempts have been so far. but clearly the genie is out of the bottle of the race has begun to be

1st when it comes to building something efficient and successful. now. well, if you look at the china is due to construction versus china, is renewable construction? does the capacity to renew china's renew and renewable construction is just, is, is just of to, it's just a huge me seems to be great. then it's new to construction. so there's a lot of flour for new with it's i some of the rest of it. but there are significant problems. i mean the key problem this time, whether one likes new to or not to keep up with his tongue. nuclear will take up to mid twenties, thirties, late twenty's, thirty's to put down just one, react to. now this is far too late. well, i direct line that will uh, energy issues. so that's the key problem with nuclear. at least one puts aside what would be other problems of cost and waste and also the other kinds of issues that

in increasing the unstable well, as we seen was a risk of the seem to be kinds of questions associated with the security of nuclear power plant. all right, pulled off, been found to ensure of consulting grapes. great to have you encountered the costs a think about saw show for this week and get in touch with us on the x need to use the hash tag, h 8 dash c to see when you do or drop us an e mail accounts and the costs of items that don't match is our address for that small for you online. and i would just say or don't come to that. i'll take you straight to our pages, has individual reports and extend the episodes for you to catch up more more insight into pricks, which are previous episode as a new well economic board. a much better sit on this edition of times of the cost on the bucket for the whole team here. thanks for joining us. the news is next on i was just there less than a the

is one of the classrooms that holding music and seeing sessions or what is working with edward. sorry, i'm using organization to hold these advice and these activities every single day for the children were my 1st name in children and in there was child. sure thing during pregnancy in the world. do them try i'm mary mc and i've been making films about them since 2006. when i moved there in 2005, since we recovering from the 38,

your occupation by israel. people were hopeful that their lives would improve, their dreams have been destroyed. and all that remains are of the last chapter dreams on l. g 0. the latest news, a space around situation all taking place in the boston in northern go for as the way to on the strength and, and, and the resistance. you better for the account with detailed coverage with both of these real and how may i ask, continuing to talk to us the prospect of a low and fighting seems unlikely anytime soon from the house of the story near says, these ambulances have had any maintenance, israel's totaled will case of the strip means no spare parts have come more than a year, a full year of war in gaza. and now with this really troops invading lebanon are the us in israel working to reshape the entire region. who do americans trust to handle their economy? immigration, and the wars and ukraine and gaza?

a quizzical look at us politics. the bottom line, the, the, [000:00:00;00] the lo, i'm sammy's, i them, this has been use our life from the coming off in the next 60 minutes. more than a 100 palestinians killed in this riley strikes a northern garza rescue teams searching for survivors. women and children among at least 19 killed in over nice. these riley strikes on southern lebanon, carmella harris and donald trump begin the closing arguments in the final push to