is the real estate sector? the building boom, which for so long fueled rapid growth has stuff during the economic slowdown, leaving developers crippled by debt. investors empty handed, tony chang reports now from young, cool. in northeastern china. delegates assemble in the great hold of the people. i'm one of the biggest challenges the property market, but china is premier said the problem is under control. talk to you from 1st were made to stem the downturn and the restore stability in the real estate market. we reduce the interest rates for housing, lowes, and the ratios of don payments with the promise of tax cuts and lower interest rates help. it's too late for investors at the grand riverside bay in northeast in china, the luxury cecily departments were designed to affluent retirees. now the entire

complex is in ruins, and the development company collapsed with $300000000000.00 of debt. and this isn't an isolated case. there are projects like this in cities across the country. china is housing over supply problem is now so bad. it's estimated there are 60000000, they can homes. that's enough to house an entire medium sized country. exhibition centers office blocks in housing estates and list of the city full unoccupied. mrs. penn moved to several years ago to open a pizza restaurant. but they were never the customers now, she barely civilized by providing catering services to sports clubs. nancy and kind of go to that young people are re leaving the city to find jobs. so ties in more, more people are going to the big cities are fewer and fewer people are staying here to live and work at all. this development with no growth is comedy,

huge cost. china is building boom, has left the real estate sec to $7.00 trillion dollars in debt. an amount the government comp just rights off. if you have at that, that's around 10 percent of the entire gd, be just owing to the property sector. that is actually quite a, quite a, quite at the amount of debt that kind of just be heads off by a single year. let's say that is katie, a multi year cycle that we're talking about. so the government stimulus has failed to kicks the property market empty apartments and houses across the country a home to remind to the dreaming big can come with a very high cost. tony chang al jazeera, you can co ne, in china. ok, so that's like a coming up next to stay with the just after midnight on march 10th, 1945. devastating us a raise on tokyo,

unleashed firestone on a densely populated area within and paper houses by sunrise. more than a $100000.00 people, but that 70 years later, those who survived seek recognition and compensation for the event that defines their lights only to find themselves still cost aside. witness paper sitting on a chest, either the pen, debbie is behind some countries phase of the global population never received a close. the phone is about flooding. let the band i want to find out what impact basis had on come to synagogue on the west coast of

africa, the only one in town and people are immunized for close the time we need to come work the court system. this is like, i just, i couldn't, was right, you, japan did developing african nations like soon ago most of the come by producing vaccines themselves for you to completed this out and look at those similar to the so it looks like the 4 year old we see the for the fix, the leslie episode, one of a special series about 3rd week who is a new global increase in 6. that's the last to look the a piece community clinic on the outskirts of the capital cost. they do use

a big immunized for range of childhood. today's vaccines are free for citizens. the incentive, though with during global health emergencies, african nations struggle to access medicines and supplies quickly go up. but it would seem to the same kind of a new world media about how to enter into the the clinics hidden, us know how to do. bank said sexy iniquity. literally over here during the close of 19 and then the right. as long as all the pieces, i'm going to let somebody have a more stuff i pulled on. i'm on, i'm on. uh, definitely a gap claim id like said at that been i'm on a medium. all took them off, but i for the,

with its young population, the death toll from co here is not as devastating as an aging industrialized society, but the parent didn't challenge synagogues underfunded under stopped health system . the name lincoln mazda, if i send way, and i believe that that's really what i do need to fill out to me because it is evening dialing. so if we told you, send it out on the us in the class, if you do land, 80 miles, there's a lot of grandma fell out. please all sides a. so really v it's why nurse day once africa to be best prepared for future pandemic. what do african nations and then there's 2 levels of a 5 and a 5.3 k for ranma axis flux in us here. and you said him was assigned to the police show. that's the reason it got put on the phone. i said as indigo, i get defensive nuts and bases for immunization rights are also due

to misinformation murder, i me see on the bottom it is, this is a maintenance and you are part of the lucky not as you know up on the left will be your company on the data, what a mazda, i appreciate the web is on fine side of do a lot. do they do v, so they do meaningful. maybe they will, but supposedly lupsi not allow for the to the end of the nice up with the media allow for blast off again. most of johnny grinds living in the fishing industry. the main source of income from many senegalese villages. when the pandemic cheese he wanted the vaccine. so are you back sonata nano? if i say no linda from that a guy and if not, i'm with them of, of the,

the be now questions the need to get back at all the data, not the same. i'm failing them on my cell. let's say implement fail gives us i've been unwelcome when i need somebody to dig it out, but a thank you. so again, the days i've done, i'm naming and i'd be more of a nice. i'm gonna, i would, i was in the, with a computer and you could have such attitudes a lisa and i forgot where a deadly impulse outbreak in 2024 has been declared a public health and the agency some of humanities. most devastating diseases have ravaged these concepts, spreading among the objects and makes it quickly in crowded cities and the cost for sportage precious met. so it's always lived the south african health department and various level health bodies. africa is the most fundamental

continent in the sense that it has disease outbreaks happening all the time. and it is for that lives and that africa has to be that center and also an area of priority for the little tougher consumption, the recording to copy 2. but they're trying the local coffee, we talk to shake, you've received you an answer. apologise to his studies, the ink cartridge h i d, a bowler and coby 19 on west africa as so they're not gonna bunch. he believes vaccine equity along with the frequency of outbreaks here, and this led to a distrust in wisdom that is not on the frontier. they may think of accident. is it fine on some property?

the issue of what the process was that is in the rest of the system stopped in young says and get intensified among african because they felt a bad spot of the west. does it make came mad. yeah, of course it makes me much because like, when i'm done you can have the rest of me. you can make me very much. this is why i am among people who are fighting in africa for when it goes for makes it look like same one year into the pen. did we live sizing? medicines became available will be nice, looked out for themselves, stopped piling, vaccines, and controlling the bulk of supply. health regulations meet together international cooperation week,

and completely ignore the professors. 3 moon is a leading expense on global health policy. when push comes to shove, countries really are on their own, you really saw that the wealthiest were best protected in the world. and the port of time had almost nothing african leaders call the fact of self interest vaccine. a pos on those who advised western governments on disease control side, it's complicated. i think it's probably on helpful to label it as seen it selfish. there's a real tension that we need to recognize between silver and t and sold it out to the government so that you didn't buy that populations to protect that population. and so they may see that the key mandate is protecting all people and everything else is secondary. we also have at the time,

the creation of the ox with astrazeneca vaccine told them that you take government to donate surplus club and not take jobs to bundle populations in other nations. or for a nice, wealthy country is we'd going from no protection to very high levels of protection . so the chance of someone going to hospital dying from coming 19 was an 8 to 0. and if you focused vaccines on older, on those in the world, many lives could have been saved in poor countries. so i think that, that in equity, i actually prolong the pandemic because it meant that countries had to stay shut down. prolonged that, that vulnerable was still at risk for a longer period of time. 1.3000000 lives could have been saved if could be 19. vaccines had been shared more equally according to a study based on data from 152 nations.

dr. michael, right, the deputy head of the world health organization lived the team responsible for the international containment and treatment of cause igniting the ability to distribute as come to major as the drugs. the vaccines that would save lives. was that, that the challenge we were not able to distribute to the people who needed those interventions most in the time it would have made a difference to saving lives. ready to come that this inequity sent a goal is building africa's 1st high volume vaccine manufacturing. pub, cold madiba the institute past to do the cost. a local private foundation is steering these $250000000.00 project. showing me the new duty site is my deepest manage, i mean send the big on them on the, for a level step by step the public. so you know, permit,

those will be that then they'll just go ahead and media out of those of disputed the when it begins full operation in 2025 madiba full service, all of west africa full of the african nations, a building similar hob. why is it important to have big manufacturing plants like my dba when there's no full? so the website is, so it's easy on the freq uh, sol as only m 50. it will receive them at 1000 for the show. and the reason that i believe a big loss is if it's in the component in please see on the, on the 4505 book with the to know me. i the montera m a i goes model to know me. 75th at the institute spain headquarters in downtown duncan saw it just to be studying infectious diseases. i'm producing affordable,

yellow seeds of x rays. i see here now the institute once bull funding to look into other viruses, the play of africa. how are you so low, but it's not showing me. i got monday will appear the capacity of the should. that will keep on panama to demand the bulwark color. so they have like some getting us on file, which will be on top of the same one that has to be manasseh us africa consumes for most of the global vaccine supply. it's a mazda $6.00 to $6.00 to grow, to about 2 and a half $1000000000.00, which is while there is a new list demand, the coincidence needs greater technical and for natural support for me to just realized nations and pharmaceutical companies. yeah, i use it for you. for in the, in the,

in the south show on the left side of the industry and he's also, this is also the, uh, the level of sources. human is also really the more, yeah. you know, 6, the 5 african hubs hope to meet 60 percent of the content inspect. same requirements by 2040 i do think they have can scale up as a good thing. it's extremely challenging. you have to know time he put the buildings in place. so you've got to try and skill work as, and we might have to keep those buildings for 50 or 100 years in full next pundum where it could be next year. who knows for the vaccine for the next time it will be developed in the south a. this isn't a lot of charity. this is about collective security. the

do you need the health capital of the well? since 2021. it's 8, so it'd be in the center of intensity. go see, i should to create a better system to manufacture and distribute vaccine. so nations like san a golf don't get much on at the world health organization. 194 men. the countries are trying to draw some degree that helps the planet to prevent and respond to future pandemic. so why is upon them with the agreement important? we're trying to make international rules that are fit for the threat. the con nomics in a globalized but also a less an equal world. then, then we had a few decades ago. i do think it can deliver a much more equitable and effective response depending on the some of the future

opportunities of negotiations. the w white show was due to finalize the agreement of its annual assembly in may 2024. i know that that remains among you a common will to get this done. and no one said multi lot, that isn't was easy. but there is no either way they couldn't agree on the final tracy by the deadline. so took so extended for a year. those are you disappointed about the mist deadline? um yeah, i have to say i'm disappointed. this is a negotiation between the software and the member states, trying to decide how they will work together in the face of the next time that we, that is an imperfect process in a geopolitically divided world. precious not sold so leads depend demik preview negotiations. we know that everyone a few to chase to make this was this is not the end. this is just the beginning.

she's chatted about why they file to rates. consensus is one, comes into nickel stations with intense use and continue to hold on to those and changes in and i've tried to kind of control them that also sometimes is that them and you know it to see we're losing out and this window of opportunity. so it's been tough negotiations, developing countries are asking for more than just we get access to vaccines. they said there's no financing. if we do not have access and benefits children, we cannot have a t t technology to say, look, our productions they violated that. s t, the global sounds nation's help develop vaccines by participating in clinical trials and sharing samples of disease causing organisms. cold passages

however, they often can't afford the final product. marketing saw, the developing countries have been pushing very hard for positions that will help them to do more research and development also to innovate and invent medicines and vaccines and diagnostics to manufacture those products. and hopefully at a, at a lower cost, i think behind the acts is a pretty simple principle, which is more so for lines, let's say less um, begging and waiting for the international community to come and save the date. in september 2024 delegates agreed to create a system. the new shows health experts have rapid access to deadly new pathogens that could cause time damage. these transactional mechanism could enable global south net. she was to access cheap protest vaccine and commercially benefit from

sharing disease dawson, how to implement the system. so it's, it's old, remains a challenge. currently, we don't have any rules that obligated governments to share the samples or the data quickly where all countries say we will all share sex scenes, technologies, intellectual property, all of that. and the fact that we don't have those rules puts everybody address what a number of the industrialized countries i think are afraid of. and what the pharmaceutical industry is afraid of is if we allow and build capacity in other parts of the world, those guys are now our competitors. and of course, industry is very happy for governments to, to try to protect their, their interests. and so countries that have traditionally been very strong have had strong pharmaceutical sectors in europe, in the united states, for example, in the okay. and in japan, they have been very reluctant,

they have been hesitant to say, you know, we, we agree to certain rules that we think might the road some about the economic advantage. dr. david ready represents big from the warm that origin politicized system. could slow down innovation during pandemic. what are your thoughts on this when we well, and the last pandemic was very rapid access to pathogens? so any requirements for additional agreements, etc, particularly at time of outbreak, good slow that will be detrimental. and so it's been estimated that a one month delay, for example, and access to vaccines would have cost another $400000.00 lives during the pandemic . so we can't afford that. there's also an inherent issue around monetizing pathogens monetizing viruses. the, the, i'm sick, the viruses, the sale, these being requests that in order to get access to certain pathogens,

the industry should pay a fee. it's an issue because you're asking the pharmaceutical industry to be and do the research and development. and from all of that, on top of that, without any certainty that they will ever be used will be successful. and so your layering a lot of risk and a lot of cost on top of that, some government. so at the end of the day, we cannot tell a company, we cannot force a company, let's say, to share a technology to teach somebody else, you know how you make your product. um, but the reality is that governments can, in fact, put quite a lot of pressure on companies to do that because they are the ones who pay. that's public money. that's tax pare, money that is paying for the research that allows for a vaccine to be developed and produced by pharmaceutical companies in times of crisis, global south nations. believe pharmaceutical companies should be full to shape tech

know how and why the intellectual property rights to allow low for production. that just would, because you need to be able to ensure that that is the best approach that it can compromise the sky. like if it's that are ongoing by that company and that the recipient company actually is able to receive that it has the capabilities, etc. or you can start on a very long road that means to nowhere. and so this has to be voluntary and it has to be mitre a great. the key thing is don't dictate to each company which of those things is the most important. give them the flexibility to sign up and do it in the way that is most appropriate for them. well, you know, i was very depressed to see in the pharmacy, to concise creation. they're complaining that the treaty and, and the sharing of pathogens and the sharing the facts. they shouldn't be transactional mean bodies and form a company if it isn't transactional. so it's pretty the critical if you ask me as

exact the protesters of the world health assembly geneva the so for decides the pandemic friction falsely claiming it gives the w h. show the power to impose locked faxing, rollouts and control a nation's health policies. conservative politicians across the west as well. the echo those claims on demand soft and stops. of most we surrender out sovereignty in the heat of an emergency in the real time amount of time, then that would be irresistible pressure. the amount on the documents to make decisions which may well and as we found was turned out to be wholly humble and room one for the good of the country will limit a surgery that fundamentally, that's quite a phrase know kind of a treaty is better than a bad such of critics are against a crazy proposal. the rich nations don't nice will sell a piece of the vaccine supply to the w h. i. so they can help low income nations

affected by does the exact price, i think 20 percent and then that's what people need to ship it is about is explaining, you know, the principles by which your governing and i think global sold our t should be one of the principles of governance, sovereignty is not building walls, shutting the doors, pulling up the drawbridge and saying, we'll have nothing to do with the rest of it. that is not a future for any society. vaccine shortages are exacerbation impulse emotions sweeping out freaking highlighting the need for a fear a system the delivery was saving vaccines with delight for months due to high call, regulatory almost and reluctance a wealthy nice to donate their supply pundum. it's no, no for this. you know, if you think that with federal sources as incentives, protector, police,

and that you, these to the new, the portion from the outbreaks and pandemic where ever they had been, i think it's a floats narrative because it did not spit in the country. it did not spit anyone and even the next one when it comes, it for no, no, but this is not as for a visa, it received like cause it did say that a nation less, that in the cold, during the code with 19 pandemic has a lot to guy, you agree, he's fine line. so i think of a country like sun a go place where you have the existing vaccine production capacity and development capacity and where that's, that's growing would very much benefit. if we have strong provisions in, in a final agreement, that would encourage the government for example, to make long term investments in research and development, then production boosting local vaccine production capacities. ok. so you know,

the cost site in medicine are proud of doing something that these would ok wednesday. so the last thing is um is permissions. and again, just to put in the money on getting get a 1000 just offering out of browsers. emphasis was able to say ok, so you can sort of actually made in africa for africa, could not only build trust, but save to music from the she loved trenton, the an infectious disease experts say the next spend them it is coming to me we're, we're definitely not prepared, and i think that's very clear. an organism we know about, or a deadly new book called disease x. either way,

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