are enjoying a kind of rebus after 2 difficult years to the way more good. it really wasn't easy, but now we feel again that the power is in us, the power to keep going back or what you know out of the v and the people of rio once again ready to fully embrace the carnival season. that they are famous for a future update. more world news at the top of the hour, daniel winter has business next with in many countries, education is still a privilege. hummadi is one of the main causes some young children work in mind. trav instead of going to class, others can attend classes only after they finish working with millions of children all over the world can't go to school.

we ask why? because education makes the world more just make up your own mind. d. w. made for mines. ah, china's economy isn't doing as badly as many predicted, bought harsh locked downs and shanghai and other cities mean trouble ahead for the world's 2nd biggest economy. we'll find out why analysts still expect china to fall short of expectations this year. also coming up, vladimir putin keeps met, takes measures to keep his country's economy afloat, but is at russia heading for an economic crisis. i'm daniel, went to in berlin. welcome along to dw business. china is doing surprisingly well.

the economy growing 4.8 percent in the 1st 3 months of this year. but the outlook for the world's 2nd dig. it biggest economy is darkening as china resorts to harsh locked downs and shanghai and other cities to contain coven 19 outbreaks. the headline number is misleading, while china's 4.8 percent g. d. p growth for the 1st quarter of 2022 has exceeded expectations. consumer spending has tumbled and unemployment is rising. the post pandemic recovery, which the government expected may be coming to an end. the series of copied 19 outbreaks of prompted authority to impose new restrictions in cities, including a lockdown in shanghai, the country's financial hub and biggest city. the chinese national bureau of statistics has warned that both the domestic and global environment are becoming more complex and uncertain. we've the latest coven 19 measures to contain the pandemic are disrupting economic activity,

and they will make it harder if not impossible for china to hit its economic growth target for this year. or let's get more on this earlier t w's china analyst clifford couldn't spoke with my colleague, chelsea delaney. she asked him why china might not hit its growth target this year . i think the 2 main factors behind these as is a better than expected figures, but still pretty weak when you consider the 5.5 percent growth target, the government has at the main things we've seen has been a combination of the 0 coven policy, where there's been a clamp down people locked in their homes known and go out. and also then this is combined with the effect of the war in the ukraine in, in ukraine, which is also hitting growth. so what sectors are suffering the mass right now? well, what we're seeing is hitting real estate exports, retail sales it's, it's pretty much across the board and new home sales tumble by 29 percent last month, which is which is a pretty serious decline. given that the real estate sector is so important to the

overall economy, and as we know, it already has problems to deal with from the ever ground debt problem collapse. and so we're dealing with that they're dealing with putting out fires in the real estate sector at the same time, passenger car sales, we're down 10 percent in april, which is after the current random data, which i think gives us an idea of how things are going to be looking forward and then the 0 covert effect is, is causing all kinds of supply chain issues. we're seeing the ports are completely clogged. and if you, if you imagine like in a lot of chinese factories, a lot of workers live on the factories. and during this, these locked down, they've actually been working while living there. they've just created these kind of bubbles and i'm working in that, which is great. but once you produce the goods, how do you get them out? and if the truck driver, for example, is locked in his apartment on the outskirts of shanghai, he can, he can come and pick it up. so is realistic and supply chain issues which are, which are causing a lot of trouble. clifford tune and speak, my colleague, chelsea delaney earlier and from china to russia. vladimir putin is pumping fresh

money into the russian economy to keep it afloat as sanctions bite. raising pensions and salaries for state employees could help limit the fall out of the war and ukraine, lifting the mood of russians while increasing their purchasing power. despite the move, he insists western sanctions on his country have not been successful. economists disagree saying russia is teetering on the edge of a financial crisis. demeanor vladimir putin insist the russian economy can withstand mounting pressure from western governments. had he during a video conference, he said the recent wave of sanctions have had little impact on russia, but were hurting the west more by driving up inflation and unemployment. uncompleted was rosa. we can now confidently say that the policy of sanctions towards russia has failed. the economic blitzkrieg strategy didn't work. moreover, the initiate as themselves couldn't get away with the sanctions. i'm talking about inflation and unemployment growth and economic dynamics worsening in the u. s. and

european countries on a hero. but when i didn't put an acknowledged, the sharp jump and consumer prices, i saying his government would raise pensions and the salaries of state employees to ease the impact on russians. and i see, but away the bus didn't. yeah. full better in the past month and a half alone consumer prices in russia have grown noticeably by 9.4 percent and yearly figures. number, the inflation at 17 and a half percent to what i call for attention from the government and central bank colleagues were all very well aware of it. lemme because those are very high figures and they're impacting family budgets to suit enough, william, seeming to visit. but russian central bank governor avira, navi alina warned. the economy could not survive and definitely on its financial reserves, and would have to change to deal with the impact of international sanctions, which have frozen almost half of the $640000000000.00 that russia had in its gold

and for its reserves. economists believe the worst is still to come and say russia is likely to plunge into a deep recession. the world bank expects the economy to contract buy more than 11 percent this year in moscow mer sergei. so counting, warned that around 200000 people, risk losing their jobs in the capital alone. because foreign enterprises have suspended operations or decided to leave the russian market even if the war and soon, many multinational companies are unlikely to return in the short term, fearing more disruptions. now to some other of the business stories making the news ukrainian president vladimir zalinski has held a call with i am f chief crystelina gill giver about ukraine's post war reconstruction. later this week, ukrainian prime minister dentistry hollis 2 to 10 meetings of both the i m f and the world bank in washington, where he'll seek further assistance for ukraine and long hughes of russian and bell

russian trucks remain at the polish belarus border. after a deadline for them to leave the e. u territory passed on saturday. the you has band lori's from the 2 countries as part of its sanctions package. although those carrying petroleum medicine or mail can remain german comic a, b, and w will not cut a single employee. and the transition to electric vehicles have c e o. olivers ipsa has told the financial times. he says the company will retain staff through retraining programs. germany's car industry lobby says up to a $100000.00 jobs in the sector could be lost in the transition to electron mobility and stay with e cause now the ceo of u. s. electric car may caribbean has warned that his industry is facing a shortage of batteries. saying that it could be worse than the computer chip shortage. currently plague in the industry or james sweeney is following the story for us in wall street. so james,

tell us more about what the c e o r j scar inch had to say. well really in c, e o, r j's carriage has issued a warning and it goes as follows. if you think the automotive computer chip shortage is bad, well, pretty much hold as coffee because a short of of electric vehicle batteries will make that current shortage. looked like small potatoes, the might the minor leagues because literally in a report to the in the wall street journal, the c e. o was issuing a tour of his company's plant in illinois. and then he surprised some of those reporters by saying that semiconductors are a small appetizer to what we are about to feel on battery cells over the next 2 decades. and if you're wondering how does he know this? well, he simply did the math and in his own words, he said, put very simply, all the world cell production combined represents well under 10 percent of what we will need in 10 years. meaning that 90 to 95 percent of the supply chain currently does not exist. and that caught a lot of those reporters and apparently the entire globe off guard today. okay,

and james, just briefly, is this inevitable or can somebody be something be done to avoid it? future well, if you're asking, if this can be resolved, that can be resolved. the easy answer would be make more batteries, build more suppliers, but it's not really that simple. you can diversify your suppliers. it's not like anyone can just grab a bag in a shovel and start money for lithium. but, but perhaps the answer comes from the law must, can tesla, who not only repeatedly warned of the fading supplies, but also is considering getting into the business of mining and refining lithium himself because he secured his own mind in nevada not too long ago about 2 years ago. so can this be fixed? yes, the real question is if your mission is to create an electric vehicle that will help stop pollution, stop using fossil fuels and save the planet. would in a spike in lithia mining and refining? possibly. contradict that? an interesting question to leave you guys with k, ending on a very interesting question. some interesting to the eco companies themselves, james sweeney that new york. thank you now to a common problem. so some of the most beautiful places in the world. everyone wants

to see them, but the more people come, the less attractive it is. crowds of tourists on once secluded beeches, t shirt and souvenir shops instead of quiet cafes. it's a trend that citizens of key west in florida have long been familiar with. and now they've put a stop to it, palm trees on beaches. pastel colored victorians and members of hemingway. that's what key west used to be all about. but to day, the island of the southern coast of florida is over run by masses of tourists spit out of giant cruise ships. big ships do tremendous damage to our ecosystem. the ships are too large for our long, narrow ship channel and they come through and they physically stir up the bottle even worse, their passengers don't do much for the local economy. they don't stay over night. they eat on board. among the few who do good business,

other chomsky shops selling cheap. so veneers will be the course you because it's helped with helping everybody you know without the course your, your drink grow the business, you know, not too big a loss. some would argue. and the numbers proof that the island might be better off without the giant vessels where the only good things that came out of the coven pandemic was the fact that we got to see. we got to see whether we need a crew ships or not. we are going through one of the best years that we have ever had in the history of key west economically in 2022 and also in 2021. and those were our years predominantly without crew ships. hun, now the city council has closed the islands to public docks. only one private dock remains and service and it can only host one vessel a day that limits the number of tourists flooding key west and the environmental

problems caused by an industry that has grown massively for too long. and that's it. you're up to date with d w business. if you want more checkout d, w dot com slash business. thank you very much for watching. i dr. turn 70 intel d w. what's truly important in life? ah, we take a look at his past and future. meet the artist, a very personal, ken, legato arch 20 next w. ready are you there, we just have one wish,

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