as india celebrates 75 years of independence, we'll take a look at current challenges. one economy that lifted millions from palm. and we'll go to the state of iowa, where some farmers have found a new source for much sought after fertilizer called welcome to the program. and economy struggling haunted by its own 0 covert policy and constant lock downs. china central bank earlier today, trimming, lending rates for the 2nd time this year, taking its key rate down 10 points to 2 points. 75 percent. that as latest economic data showed there was need 4 more stimulus to support the economy. retail sales and industrial production rose slower than expected last month, as did total exports out of china. now this has caused much concern in beijing. at this, the mortgage was china's once stellar property sector has sharply declined during the last 2 months with both new investment and sales down sharply. earlier i spoke

to jab cup gunter, senior analyst at the mercator institute for china studies, and i asked him if he saw more than just macro economic reasons for the central bank to intervene for the 2nd time this year. yeah there, there's certainly more than just the macroeconomic factors and, and when you look at this 10 basis points reduction it's, it's, it's quite notable because it's the opposite of what's happening everywhere else on the world. and everyone else is rationing up their rates and try another. they're lowering it effectively because they have the opposite problems that we have in the united states. and europe and consumption is incredibly low and weak relative to supply. so they're, they're definitely trying to keep the economy from kind of falling out in large part because of those swanton investor and consumer confidence is coming as a result of trying to 0 coven policies. um, as long as it made him 0 hoping,

approach consumer consumer investor confidence going to be low that you know, they're not, it's not that people aren't spending because i, you know, the, the interest rates are too high up there. they're not spending me to say, afraid that they might suddenly be locked down in one of you city wide, locked down. so again and again, jacob, why does beijing keep holding on to the 0 co? it's strategy. if it does have the series ramifications for the economy. yeah, i think it's, it's 2 main factors, though. the 1st is a bit less political, it's just a bit more realistic, which is that china has effectively not lived with cobit the way much of the rest of the world has. so there would, there would be legitimate economic chaos if coded suddenly were to read through the entirety of the country. they, there isn't any build up immunity. they don't have, they refused to import the m r n a vaccines. they don't have as a very advanced health care system, and there's

a lot of vaccine hesitancy in china. so there's that very kind of legitimate, traditional justification for protecting these economic costs. and the 2nd factor, those teaching things out and kind of political goals. the, you know, he's going to stay in power at the end of this year at the next party congress where he's present to say on for a 3rd term. and he needs things to smooth as sale as, as clearly and safely as possible. and he's really put his own name with an attached his own name to. ready syrup of the policy, so the dear leader cannot be wrong, especially in his lead up to the lead up you are is that the same power. jacob gunter senior analyst at the mercator institute for china studies jacob think every time they give marking 75 years of independence, india as prime minister, nor under moti pledge to turn the country into a developed nation. and the next 25 years. the india and the past managed to launch

itself and parts of its 1400000000 people into the ranks of leading countries. and i t, pharmacy space science and civil nuclear energy luxury apartments and slums, hunger and high tech object poverty and economic abundance. india is a country of sharp contrast and is current to the pastor's growing economy in the world with growth currently exceeding more than 8 percent. india is increasingly becoming a strong come to way to china. india's gross domestic product has risen sharply in the last 20 years, and it has grown to more than 3 trillion dollars in that period. but despite its economic success, india has locked behind in many areas. almost 2 tours of his population live an unspeakable poverty. this was also an issue for prime minister, not under moore during his election campaign last year. gin go obvious who still

don't have houses. i assure you, you will have your own houses. this is my dreamy jet, or when this country celebrate to 7015 over say offices dependence. there will be no poor without a roof over their head. we are they working on it? i god, we gave what that, that a thought, man, i ha, ye hums, let me. but this is nearly impossible with a population that has been over a busy hour within the constellation of great porous india wants to assert its autonomy. the us and china are by far its biggest trading partners. so in the prefers to remain neutral towards his partners. it went towards russia because that's where india buy is not only a lot of weapons, but also oil and gas at bargain prices. for a closer look at india's economy, 75 years after the country's independence, let's fall over to our correspondent charro cardia, and deli charo, despite the ukraine war. despite the pandemic,

india's central bank governor says the country's economy remains an island of stability. is he right? well, chris, a lot of economists would beg to differ with the governor because when be a governor or even a union ministers, when they talk about india being an island of stability, most people focus on growth where growth is not really the biggest parameter of the health of being an economy. now, this is also a fact that for an institution, investors have been pulling out from the indian market. and that followed has been happening from at least january this year, if not late last year as well. so it's, it's, it's really an ability why are foreign investors willing out trade now, di, monetization the introduction of a general sales tax. those 2 issues have been the biggest, most recent internal challenges for the indian economy. how do they continue to impact business? well chris, it's not just business,

but the overall economy as well, that continues to be impacted by them. now when the monetization happened, it impacted small and mostly small and middle income traders that impacted the middle class and impacted the unorganized sector, which is 94 percent of india's workforce in a huge way. then gsp further create a lot of confusion and economy that offer that the band make and the impact of the lockdown. and then now the impact of the ukraine war. so for back to back, cascading events have been hitting the indian economy of millions have been pushed into poverty. incomes have fallen. unemployment is believed to be at a for decade high. so the economy is just to get to find the ground that it lost in the monetization chris. now, over the past 75 years, india's economy diversified. the dominance of the agricultural sector dwindled,

services have become much more important. what does india s growth model for the future look like? well, chris, it is the service sector that most people bank the bond, but then several economists also feel that things have become so unpredictable that it's very hard to say. what kind of turn will things change? now, of course, we know that the ukraine war is likely to change the shape of economy as well as politics across the cross the world. so india will not be left untouched. it will have long term impact as well. but then in the us own challenges and then how do, how does policy overcome those challenges in the next couple of years will determine the future shape of thing in economy. w correspondents are required to k and l. a. chart as always. thank you. farmers around the world are facing serious ripple facts from the worn ukraine.

fertilizer is becoming ever harder to come by and farms are having to find new sources. are correspondent to from the months went to iowa, a midwest states in the so called brad basket of the united states. ah, you may think farmers in the united states should be as happy as can be right now. after all, prices for their products are up way, wheat, corn soybeans, fake smell, chicken and kettle, crop farmers, and cattle. ranchers get maximum returns this year, financially speak you so what could possibly be wrong? this year will be tough because of the supply chain challenge is the most problematic supply chain issue for us farmers. the severe shortage of fertilizers, a lot of the fertilizer that the globe depends upon, comes from russia, bella, bruce, ah,

places that you know least the u. s. in europe will no longer buy from. so that limits the supply of fertilizer around the world that's creating those supply chain challenges for producers. we're meeting one of those producers, iowa crop farm, or den hands. he's working roughly $700.00 acres total. this is considered a small. the big concern is i, you know, moving forward in the coming years, is there going to be as, as a situation or a time in which it's not just about pain on the high price, but physically getting the fertilizer that, that scares a lot of us the massive problems, us farmers face in terms of getting their hands on enough, the fordable, traditional fertilizer has also help this start up in san francisco. interested the way that sir natured as it is lightning strikes the ground and we have the

nitrogen, the air gets fixed into knox effectively. and the rain captures that knocks as nitrates and rains a lot of the field. so we've containerized that process, but the lighting in a bottle effectively can produce those nitrates that go up to the field. and there's also this natural fertilizers. this is where ape sunquest comes in. st. louis is an entrepreneur in manure, in dung, cow pool, or whatever else one wants to call this sand quiz cells, an enhanced mixture of regular cow prove with other natural ingredients like lime city mulch and gypsum, i think, ah, what's, what's happening right now is with this crisis that we're having, it's an a catapult dis industry. it's going to be anybody that has any sort of renewable sustainable technology is gonna be gang busters. nearly anybody working in our culture, including local and state governments, and most experts in the u. s. whole ape suncrest is right, all agree and extend it,

or even worse, fertilizer crisis is going to hurt everybody all over the and that social for more checkout d, w dot com slash business. and of course he didn't use youtube channel. i'm chris kolber on the line. thanks for watching. have successful day. ah ah, with

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