and germany alone walked to the shop and seen beardsley in berlin. for the past 2 years have been a headache for global supply chains. businesses are now bracing for more rushes. war against ukraine is already distorting markets. now coven, 19 cases in china are surging. once again, and that's leading to key factory closures. barbed wire separates neighborhoods and change in a desperate attempt to keep a new wave of corona, virus infections in check. china reported 5280 new cases on tuesday. more than doubled the previous day's tally. now entire city, sand are locked down, with no way in or out. as some travelers found out, oh, well i water from a boat on which i was going to go back by long distance bus, but now i can only take a train. i had to wait 48 hours for a negative test result before i could leave. so this does affect me. those who are the asian, what, what does he can't i,

i think the outbreak is here is worse than the 1st year. but we, shanghai people aren't really panicking. many of us have food supply, stored at home, just in case the neighborhood a workplace suddenly locked down. for me not to be shown here. but it's not only grocery stores that are closing with millions of chinese affected in the countries tech and financial hub. some major companies had to hold production among them, apple suppliers fox con and uni micron. the economic impact for the country could be immense. analysts say that china's goal of a 5.5 percent g d, p growth is unrealistic. i spoke to our type a correspondent, so don't hon. about that lockdown injunction and other cities. i asked what they could me for. chinese trade center will be closed for a least a week and that is serious. the world, 3rd largest port yen tim port in sends and is are likely to be able to accommodate ships this week and perhaps next week as well. we should remember that when this

port was closed last year because of the a bit epidemic, the scale of disruption of cargo transportation was about twice as large as a swiss canal jam. and that was where it sends in the city itself was not in a locked down. with this and more and more serious, incomplete or partial like downs. we will see a car of highly disrupted supply chain. and there are many reports and sources in chinese industry revealing their fear. many be companies have are they are gradually moving their factories outside of china with a target of about 15 to 20 percent capacity diversification by 2023. all right, so producers looking to move their, their chains elsewhere at the moment, given that locked down. or is it fair to say that this comes out and otherwise difficult moment for the chinese economy? well, i will start with china's official stands that according to this folks person from

the national bureau of statistics from the figures, the chinese economy has shown a real warmth. that's what the official said. and the official data showed that china exports an investment grew by 13.6 percent and 20 and 12.2 percent, respectively from january to february. while consumer retail sales increased by 6.7 percent before the industry. the data was too good far better than the market expectations. we have economists that predict that the pandemic and rustle ukrainian war could affect half all the china's g d p. we know the government is targeting the g d p growth all about i'm 5.5 percent. now more and more banks expect it to grow by just for it to fight present this year. all right, not to mention issues with the tech sector. of course. it so now there's the possibility of us sanctions that's really on the table now. should china decide to provide material support to russia in its war with ukraine?

how big a concern is that for chinese business leaders? actions speak louder, louder than words, the beijing based asian infrastructure investment bank a i b stopped activities that are linked to russia and the blair's, the bricks development bank, which as jointly financed by china, russia, india, brazil, and south africa also announced the suspension of new transactions in russia, before this too, of china's largest stay on the banks had begun to restrict financing for the purchase of russian commodities. all these show that chinese financial institutions do not want to be sanctioned and lose the opportunity to trade in us dollars. so we know how big are concerned it is for the business leaders in china. right, so it's on hand in soper, thank you very much. is russia on the cost of insolvency? ratings agency? fitch says, says there's an immediate risk of default upon payment of more than $100000000.00

is due today. if russia were to make that payment in roubles, it could trigger a technical default. western sanctions hit the russian economy. part. many banks have been excluded from the global payment system. swift and a big chunk of state assets have been frozen. while russia has dollar reserves of $640000000000.00, the country central bank is unable to access about half of that due to the sanctions. russia's international bonds are worth about $40000000000.00. $117000000.00 are due today, while a principle payment of $2000000000.00 is due on april 4th. the ration finance minister and tonsil one of said moscow will pay it sets in roubles if western sanctions keep a blocking access to its dollar reserves. credit ratings agency fetch warned that pain and rebels with constitute sovereign default. if russia won transfer dollars to its creditors within the next month,

the international monetary fund like as rushes economies now projected to decline significantly and what impact will that have to the global autonomy? let's remembered that the reason there unprecedented sexes is because the unthinkable happened. a devastating war in ukraine and the impact of the sanction is quite severe. for the russian economy. we expect deep recession in russia. this lamp is expected to hit neighboring countries such as georgia in moldova, which are both heavily reliant on frayed red, russia. and there is also the chance that the recession could extend beyond the region affecting the global economy. and let's take a look at other business news making headlines. b, m w has warned investors that the conflict in ukraine could negatively affect its business for the current year. the company expects lower profit margins due to

production and supply disruptions. a global chip storage will still play a role as the german car maker doesn't see supply constraints easing until the 2nd half of 2020 to the international energy agency has cut its world oil demand forecast 420222 just under 100000000 barrels a day, it fears a global supply shock due to sanctions levied against russia. although the energy sector is excluded from those sanctions. major oil companies have stop doing business with the country. the german ministry has warned against using anti virus software made by moscow based ca spit, co sperski lab. it says the firm software could be exploited by russia for a cyber attack. ca, sperski says it doesn't carry out attacks. in 2017 the u. s. band, it's government agencies from using software made by the russian company 80000000000 euros over a decade in tell says it's new expansion plans across europe will help satisfy the con, it's hunger for computer chips at the center of its plants as the germans city of

magda. burge, a future site of 2 major semiconductor factors. right now it's just a field next to the outer band, south of mac to book, but soon, construction workers will begin works on to intell factories here, to develop and make chips for computers, smartphones, and cas. the plan is for our initial investment to crate $7000.00 construction jobs. over the course of the build $3000.00 permanent high tech jobs at intel and tens of thousands of additional jobs. many cities in germany, italy and other european countries where vying to host the new factories, marketable, came out on top because of its renowned research facilities, qualified population, and a large industrial site. but the, until city that's going to be created here will change everything. we won't be able to recognize smack the book because it'll create a pull effect that will attract many firms and best offer it. it's one of the

largest single private sector investments in europe. and the fact that it's coming to a city in the former east shows the development experts say that was n is we had something similar with tesla building factory and gwin, heidelberg, marshall. the latch semiconductor factory undressed and now intel is doing the same . it shows that east and germany is an attractive location for high tech production and developmental to once. and the new factories could also help europe overcome the global chipped shortage. why are decreasing reliance on asian manufacturers? turkey has been in an economic crisis for years, and the country is set to suffer even more due to russia's war in ukraine. that's because tourism makes up a large sector of turkey's economy with many visitors coming from around the region . western sanctions against moscow have put a stop to their travels for now with its warm climate and sandy beaches.

antalya seems like a place for your worried turkeys. mediterranean coast is one of the most popular tourist destinations for europeans, and has attracted visitors from russia for years with many staying in the areas more upscale hotels. some are they are right now in fact, but they're far from relaxed. so when i'm here, so when a leaf in the, in the hotel, probably not need the, almost anything. that's why i problem, i don't need any money to, to be spent. but if i would like to visit her, so i someplace i would like to buy in anything in the drug store, for example, some medicine. i don't know how i should pay. so of course i had a little bit of cash, but if i would like to pay by my card, i don't know road be possible for me. no, my vehicle isn't on the home with come here for a holiday with our children that and now it's unclear when we can return to russia

or will plain will take us home. it's a difficult situation. our credit cards don't work. it's unclear how will stay here and how we can survive and out. now, cognitive systematic arteries, which of us no planes to fly home and no working credit cards. all due to sanctions, as air travel to and from russia is mostly cut off. and many of the countries banks and financial institutions have been kicked off the global payment system. swift. it's a huge problem for the area that greeted $9000000.00 tourists last year. more than half coming from russia, ukraine and bella, bruce, it's unclear if and when they'll come back and even then problems remain. schubert villa, coronado sure. in the past russians and ukrainians were brothers. they were friends . they travel in the same boat on the same bus. but now if we want to take them on a visit, let's say to the springs of palmer color, would it be possible to get them on the bus together,

even really give everybody their answers. for now, the beaches are mostly empty and the regions future unclear. all right, that's it for me and the dw business team here in berlin. you can always find out more about these and other stories online, the w dot com slash business. we're also on youtube under the dw news channel. i'm seeing beardsley, thanks for watching. ah ah, [000:00:00;00]

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the future with the 77 percent. every weekend on d, w. d o this is a w is live from bad lane. ukraine to president makes an urgent appeal to be knighted states. people attending not only free. we are fighting for the advantages of europe and the world virtual address to congress. a lot of reasons kate asked for more sanctions and military support to fight russia, telling americans we need you now. also on the program,

russia escalate to bombardment of cave. the crime says russian forces are striking