ah, you're watching g w. news live from bill and chelsea. delaney is up next with your business headlines and as always, there's plenty more on our website, e, w dot com, allows like a watching ticket with one of mankind's oldest ambition could be within reach or what is it really is possible to reverse aging researchers and scientists all over the world or in a race against time. the d. n. a molecule though has 28000000 different our glasses . they are peers and rivals,

with one daring gold to out smart nature. one of the most insightful discoveries in the history of mankind. more life starts february 16th on d, w. ah, americans go on our record debt bench, debt level for american households have topped 15 trillion. can they pay it back? we'll go to new york, france earth. and argentina's president is turning to beijing as the country faces an economic crisis of his country fall into a chinese debt trap will have analysis. and chelsea delaney and bro latin welcome to the show. u. s. consumers have been piling on credit cards that at the fastest rate recorded and data going back 22 years. card balance is rose to

$856000000000.00 in the final quarter of 2021. according to a new report from the federal reserve bank of new york, and total americans were holding $15.00 trillion dollars in debt at the end of last year, as surge and new mortgages. thanks to the booming housing market and auto loans were also major factors. and the increase now for more and less, let's bring an yann's quarter. are horse bonding in new york? yeah, and this is a lot of debt. can these households actually afford to pay back? well, it's clearly a challenge should chelsea, especially as we're talking about the year when slowly, but to shortly we will see an increase sermon interest rate so that that will actually become a more expensive for consumers. so if you look at total household debt, by example, if all the way that increased a trillion dollars for the full year of 2021. so that is

a lot of money. but when it comes to credit card debt, we're still not at record levels. and the american way is you make that to pay for that, but clearly it is a challenge, especially in the environment of a raising interest rates and stuff like that. pressures on this households. one of the factors and, and the rising levels of debt is a lot of consumption in the u. s. we also saw data indicating that the trade deficit in the u. s. rose to a record high, very politically sensitive issue in the u. s. is there risk to the economy? there is chelsea and it is pretty mind blowing. number again, if you look at the full year of 2021, we actually saw the trade budget blow up or, or expand by about to 27 percent. i mean, that is a huge increase from one year to another. and if you import more and more

and you don't export much more, usually that is all can be a direct on economic growth in the united states. i mean, clearly the good message, it's obviously the american or the u. s. economy is doing better than other economy . it's around the globe. so that's why imports are increasing and exports not so much, but in the longer run. and if you run huge deaf, it said usually that is a direct on economic growth of a country like the united states. and i just want to ask you briefly, there is a big story breaking out of the u. s. a record seizure of crypto currencies that were sold in and a hack. what more can you tell us about this year when it's a new york couple and obviously they sort of, if i got the right massed about 3 and a half, a 1000000000 worth of crypto current feed them. and now investigators caught the

couple, i would say cash is still king, at least when it comes to cyber criminals, because that a couple tried to, to convert those crypt currency into real currency into us. and that obviously wasn't that easy and that's why investigators were able to capture them for to in new york. thank you so much. now, to some of the other global this and stories making news peloton is replacing. it's ceo and cutting 2800 drugs. the maker of interactive exercise, bike faces sagging sales co founder john foley has led the company for nearly a decade. he will now become executive chair, for he has been under pressure in recent months. as the company shares tumbled nearly 80 percent. us semiconductor giant and video plan is plans to buy it ship designer, arm for $66000000000.00 have fallen through due to resistance from regulators. arms japanese owner soft bank is now planning to take the company public. instead,

chips based on army architecture or in almost all smartphones. meanwhile, the e u has announced plans to provide over 40000000000 euros and subsidies for the semiconductor industry to quadruple production by 2030. the goal of the so called chips act is to insulate the block from supply chain problems that have plagued many industries and recent months. now the governments of the u. s. canada, britain and australia are staging a diplomatic boycott of the winter olympics and beijing over human rights concerns . but the president of cash dropped argentina is taking a different approach using the games as an opportunity to jeremiah chinese and best bet was out was easy to empty. with argentina's i m f debt crisis threatening to choke his coalition. and the economy facing severe head winds. alberto fernandez, came to china looking for a when he left beijing with

a memorandum of understanding that we'll see argentina officially joining china's belgian road initiative was the 1st of south america's 4 largest economies to do so was a u t e a m. they said, oh, we're very happy to see china's investment in energy and grain production, infrastructure construction, and other fields gainer so that i think belton road will help all parties to establish better trade channels and connections to that during a 40 minute meeting with president, she, jim ping fernandez, laid the groundwork for deals that guarantee financing for investments and works worth nearly $24000000000.00. even with many world leaders staying away. state media played up fernandez, his visit, which included a trip to telecoms tech from wire way, which the u. s. is frozen out over security concerns to why we visit, showed that for fernandez. the challenge is to balance argentina's budding relationship with china when also staying on good terms with its close ally and

china's biggest rival, the united states. now our china washer, clifford cannon made that report joins me now. clifford, what is the logic behind this butting relationship between argentina and china? well, chelsea, it's like john is relationship with a lot of developing countries and countries that are in financial dire straits. it's based on money and the argentine president has been there trying to to drum up investment now. they badly needed $44000000000.00 standing to the i, m f. there's all kinds of problems with the economy with ramping inflation. and he's looking anywhere he can to find investment to help lose the economy. and they're still still reeling from the coven 19 pandemic. there's all kinds of headwinds that the economy is facing. so it's like that's, that's basically why they're in china now to see if they can get china to pick up some of that shortfall. well, china's infrastructure program beltran initiative, has received

a lot of criticism for encouraging one or both countries to take on too much. dad, will this actually help urgent? you know, hurt at the end. we're looking at looking at the amount of money that argentina already owns, owes to the i m f and it's in the process of trying to come up with the deal. and it's by no means clear how that will unfold because their protests against the i m f and argentina today. have a look at this sheer amount of money it owes. it's hard not to think that basically by putting yourself into more dash that you're not going to end up getting into trouble sometimes. and i think sometimes there's a tendency because a lot of this, the belgian road initiative initiative is about building influence for china. but at the same time, it's also but alone and loans have to be repaid. and there's no, even though everything is done with great fanfare, and you know how wonderful the infrastructure plan is and extending the belgian road and the new silk road and all that at the end of it, they still have to, they have to be paid. so there is a danger for argentina that it could be getting itself into more debt problems. so

geopolitically i would, becoming closer to china also threaten some of its other relationships. for example, with the u. s. which has a lot of issues the china right now. you know, i think this is one of the things, you know, they're in a very difficult position, argentina, you know, and you feel for fernandez and in the position that he's in because they have to keep their relationship close with the u. s. it's, it's, it dominates their regional, it's the main strategic ally in the region. and it's also the, the 1st port of call when it needs any help. whereas at the same time, u. s. and china, their relations are getting more and more fraud. and this is going to be increasingly a problem. so looking at all of these, adding, adding all these together. it's a very, very difficult balancing act for argentina to be in. and we're going to have to wait and see how things turn out. for now, he's basically borrowing from peter to pay paul. but whether that could seriously

undermine the relationship with the u. s. is also a possibility, clifford can n thanks so much for joining us. now in just 25 years, china has gone from a handful to hundreds of ski resorts, but the winter olympics getting underway, reporter, savvy and catch morrow went to it, went to line, take a look. one of the big game changers for ski as from badging, is this brand new bullet train link from the capital to charlie and her bay province. if you drive there to have a, it took you like a 3 hour for 4 hours, but you took the train fully take like, wow, charlie is hosting most snow sports during the 2022 winter games. and just a short right from the station is title. a ski resort designed by canadian planet echosign featuring 30 slopes and surrounding an alpine style village. it opened and 2015 shortly after beijing won the right to host the games. title won't host any of

the limpy competitions, but it will provide accommodation to some of the 10s of thousands of visitors coming to the games. it's operators are hoping to cash in on long term growth and snow sports. it seems like a safe bet. official industry figures show the number of skiers in china rose to just under 21000000 and 2019. that's over a 1000000 more than the year before. but there is one downside. despite the very beautiful mountain scenery and the state of the art facilities at the region has really one major problem. there's almost no natural snow. the results are heavily reliant on snow making machines to give people the powder they need for a quality skiing experience. regardless the infrastructure that's under development, coupled with china's ambition for metals in 2022 and beyond. mean the future of snow sports. yeah. looks right. and a reminder of the top business story we're falling for you. this, our u. s. consumers have been piling on credit cards at the fastest rate and 22 years.

the federal reserve, the current balance is rose to nearly $900000000000.00 in the 4th quarter. americans total that is nearing 16 trillion dollars and that's all from me and the team here in berlin for more from us, check out our website, p w dot com slash business. until next time, take care of brazil's government might have forgotten about them. but padre julio still looks out for them. so, paolo's homeless people, the pandemic has hit the most vulnerable, especially hard, padre julio, cannot end the injustice. but he is able to give them some global 3000 on d, w. innovation. bring it on new

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