seeking saudi helps to bring down oil prices. you're watching the w news live from belinda, it from me and the new scene, but stay for us to stay with us. we'll have it for news asia with melissa chapman and those always all websites for more. i've got office in berlin with got some hot tips for your bucket list. ah, magic corner, check up spot for food and some great cultural memorials to boot to w travel off we go. every day counts for us and for our planet. golden ideas is on its

way to bring you more conservation. how do we make cities green? how can we protect have a chance? we can make a difference. global ideas, the environmental series in global $3000.00 on t, w and online. this is d, w. news asia coming up today resignation accepted sri lanka, has got to buy a roger pox off. finally stepped down in an email sent from singapore. it was a key demand of protesters. so how will the crisis hit country move on from here? also coming up, where's my money? chinese rage at their local banks for freezing their savings. we look at the cracks appearing and china's financial system. plus, with the pandemic easing tourists are trickling back to little to batch the home of

the dalai lama in india. so why are shop owners not happy? ah, i'm melissa chan. thanks for joining us. he is finally out. got to buy a roger pox out who fled sri lanka earlier this week for singapore officially resigned as president. he leaves behind a rec nation in political and economic chaos. despite a curfew. the reports of roger pox, his resignation triggered celebrations on the streets of the capital colombo. it was the central demand of the thousands of protesters calling for change. early on friday, sri lankan parliamentary speaker confirmed the news that again i the but the go, how big a bunch of the resignation letter sent by president go to buy or roger poxel has been received by me. accordingly,

the president has legally vacated the post with effect from the 14th of july 2022 the on the all of it you have yet. so demand number one, that the president resign. check. what now for the protest movement. here's d w's mini are chaudhry in colombo. i'm add them woman standing at the old barn made with building, which is right now the presidential secretariat behind me. you can see a lot of people sitting fondly on with decades. this entire area has been the epicenter since the beginning of the process. again, what about are they? in fact, the people are named it ad bulldog obama, basically a place to demand a bread, the nation, his house dell, which has not been done. but the bulk of the ground is that the front desk will not a beat any time soon. there major demand one be to demand due to me, which is what i mean to them. i think i do step down from the post of prime minister. does that duncan, the boards of acting, read the den. now we don't know whether that will happen, that needs to be feet,

but mechanic brought this will happen again. and we'll be keeping a close eye on what happens next. and sri lanka. you can follow developments across all d w platforms, including our new d, w asia channel on facebook. ah, in china, a rare large scale protest has been violently broken up by security officials. it is a financial scandal that has exposed to the fragility of the countries banking system . a summer of discontent in central china. the slowing economy drives to run on some banks in rural areas. since mid april, for lenders in hernon of frozen nearly 6000000000 euros in cash, leaving thousands of that their savings. protesters rallied at a branch of the people's bank of china and provincial capital. john jo. they weighed banners denouncing corruption by hon and authorities. plainclothes security agents swooped. they fought running battles with protesters. demonstrators were

beaten and dragged away. some accused officials of colluding with local banks to suppress the rallies. protesters reported that their personal health codes, which are mandatory to access public venues, turned red to indicate they were coven positive. they suspected local contract. we're behind the highly coordinated move, in an effort to stop them complaining. authorities and hernon have started returning the money. blaming the crisis on a criminal gang, but many locals feel the government does not protect their interests. no public criticism of commons party rule is rare in china, where social stability is an official obsession, and demonstrations are quickly squashed. oh, but it does happen last year. there were chaotic scenes at the headquarters of construct developer ever grand. as just frontal investors crowded its lobby to demand repayment of loans. buying property is one of the few ways ordinary chinese can make investments. and the real estate bubble is causing public dissatisfaction

. there's also anger of the government 0 covert strategy aimed to keeping china and tardy coven free. earlier this year, residents, bank pans and shouted from their windows to protest against the enforced lockdown in shanghai. these protests come to politically sensitive time for the party just months before its leader. she jim ping is expected to seek an unprecedented 3rd term at a key meeting in the autumn. she's anti corruption campaign, is a key policy. the protests in john jo, shanghai, and change in our stock reminder of what could happen if the communist parties economic model starts to unravel. clifford kooning who filed the peace, joins us in the studio. clifford so good to see you again. i want to start with how you ended you report. he talked about the dangers of the chinese economy unraveling . how shaky is the economy?

well, i think a lot of people have called the end of the chinese economy over the years and, and, but what we've seen is a lot of resilience. i think the difference this time is that there's a lot of things happening at once. and we had data this fresh dasia, which shows that the economy shrank by 2.6 percent versus the previous quarter. as a result of the 0 coven policy, which the government is doing largely due to that. and then of the same time, you have this real estate, an issue which real estate, which accounts for a quarter of the whole economy is in serious trouble. and the developers are running out of money. and their big lenders are the local banks, the same kind of local banks that we saw in john jo. am and they've been in crisis because they're running out of cash. and we've also seen junk soup problems. we've seen an on way proven so it seems to be quite a common growing problem. and on top of that, you've got demographics are working against china a little bit to it, sir. the population is aging and india is about to overtake china as a, as the biggest populace in the world. and then you also have an problems of youth

employment which has risen to nearly 20 percent now, which is very, very high. and you've also got nearly 11000000 college graduates coming onto the market right now. so the problem is really the combination of all these different elements coming together. i think that's what makes it, and from previous predictions, if the economy is in trouble. and when you have bad economic conditions, what does that mean politically? well, it means that basically this is the real political risk. am she, jim ping, segan pings obsession at the moment is the 20th party congress. in the fall, i am at which he is likely to get his unprecedented 3rd term. and all of his focus is on this. and all dia, local governments have been told by the central government that they have to create a favourable environment. i'm and they've been repeatedly told this. so then this incident in john, jo happens and you can sort of see that the political ramifications are going to be quite serious because he wants stability at all costs. but when people see this

sort of instability and it breaks down the social contract which exists between the communist party and the people of china, that as long as the economy keeps growing, we were prepared to put up with certain restrictions on our freedom and, and other aspects that they have to deal with, but where that social contract breaks down is when, when the economy stopped growing. and i want to grab onto that thought about officials over reacting to things. and there was a line in your report. you mentioned that the protesters on their on health check apps on their phone for cove. it that the signal went from green to red. in other words, it seemed as if officials were manipulating this app that was meant for health. in order to prevent co testers or potential protesters from heading out. that's right . i mean, this happened to about a 1000 protesters at the local government admission that has happened and they said it was a technical error. but clearly it was, it was, and another example of this authoritarian technology being used to control people.

and we're seeing this and in terms of the social credit system where people are evaluations on their behavior. and we're seeing this in all, all aspects of the surveillance station, china, it's another example of, of this technology being used at 22 very nefarious ends. i mean, it looks like the situation in china is that the conditions for people are just getting tighter and tighter. yeah, i mean, we've seen this during the whole shoe jumping era that things have just gotten tighter. and now that we have 0 covert, which is admittedly by a sensor be about controlling the virus. but it's also being used as a system of control for the people or reminder of who's in charge. so definitely i think what we're seeing now is a particular with the congress coming up again, you know, as we mentioned earlier that, that things are just going to be very, very ties until then. what happens after the congress? nobody knows. but this, there's no reason to think that things are going to get easier after the congress. yeah, i was going to say there, there's no incentive for officials to give up their power over people. that's right

. i mean, people are talking about it could become more and more like north korea, so we'll have to, we'll have to wait and see until that late congress. definitely something to wait and see cuz i couldn't and thank you so much for joining us. ah. the indian city of dam sela at the foot of the himalayas is best known as the exiled home of the dalai lama. little to bed, as it's often called, has been a huge draw for tourists over the years, including myself. but like so many places, the pandemic left its streets deserted. ah, the city of durham sala in india's himalayas. thousands of tibetans have found a home here, along with the most famous of all. the dalai lama, the exiled, spiritual leader, has brought global attention and tourist to the city a boon for local businesses. but the pandemic brought all that to a halt. my family demands

a good deal. i think the ban democrats, or maybe a good more do, is then come durham sala has in the nickname of little to bit a center of tibetan buddhism framed by the beauty of the himalayas. a perfect backdrop for that postal pose. a danger with me, i know about with foreign visitors are also starting to trickle back long

time. i didn't know because of the connection of these with and also i like many, many, many, many, many places. so when you get a hold of them, i like but for local vendors, the return of tourists isn't translating into profits. said that with you, with this a lot, i think you to the pandemic, people are cautious of spending much people would buy many gifts. they're not spending much now because they may want to save it for a rainy day. in case there is another pandemic area. i would earn 5000 rupees a day, but now i can only minutes a 1000 to have ivy with while income's full. the cost of living in the city is

rising. a double blow for a community heavily dependent on tourism. that's it for friday, have a good weekend ah. to the point. strong opinions, clear positions, international perspectives. after claiming the capture of ukraine through hahn's region, russian troops, no one to take full control of neighboring dungeons. so what's next for vladimir putin? and does he have an appetite for more? find out on to the point shore to the point. next

dw, how about taking a few risks, you could even take a chance on la rearing to, ah, don't expect a happy ending literature list. 100 german histories. ah. as the crisis in ukraine continues to intensify, so does the relentless wolf woods in and around the conflict. vladimir putin shocked many by saying rushes invasion of ukraine has only just begun. one thing is for sure with have you shelling, pounding residential areas. it's civilians who are paying the debt. the price ukrainian side meanwhile says it's seeking to amass an arm, a $1000000.00 troops. so on to the point we asked after capturing large pods of.