other people are saying that's not the only reason why he's being so cautious. he has an extremely strong left wing group within his own party that are also very reluctant in terms of sending heavy weapons to ukraine. all right, database political correspond, nina has a thanks very much. oh, that's all from us this albert, stay tuned as apple prepares to raise the curtain on its light. as i thought, my colleague christie plaid said, will be asking if the company is bright, to rely on china that's coming up in business days. thanks with ended glistening place of morning. the mediterranean sea have almost entered far dual career drift along with exploring modern lifestyles

and mediterranean meeting people hearing their dreams, they determine the journey this week. do you w we've got some hot tips for your bucket list, a magic corner hot spot for food. and some great cultural memorials to boot w travel. all we go. ah, ah, a new i phone drop has apple fans waiting, and an anticipation the i phone 14 is set to take center stage of the company's 1st live event. simple start of the pandemic. but rising costs have apple rethinking its reliance on chinese production. and speaking of china, chinese export,

slow and august, growing signs of weakness have some doubting predictions that china can overtake the u. s. economy by 2030, and no signs of el dorado for el salvador. one year after it made bitcoin legal tender. welcome, cdw business, i'm christy plats and amberlynn. apple is expected to announce its new i phone model today that's a little earlier than in previous years. it could be with hopes that an additional week or 2 on the market will have a positive effect on the quarterly figures. now holding a hybrid event online and in person marks another change to the way apple has been doing things. and more changes could be a head when it comes to where it makes its gadgets. the i phone is apple's flagship product. nothing else means more to be american tech giant than the iphone does. almost $41000000000.00 worth of iphones were sold last quarter. that was just under half of apples. total revenue i phone production is almost entirely based in china

. and apple is becoming where you have this dependency. china 0 cobit policy and strict locked downs, paralyzed. it's partner fox con, which makes the phones that complicates things for apple industry. experts think apple has become more reliant on china in the 11 years since tim coke became ceo. he outsourced more and more production there to cut costs and increase efficiency. but now chinese labor costs are on the rise. so it's time for a course correction. apple is expanding in india and vietnam, where workers are much cheaper. well, for more in this we go to fraser, how he is a china analyst and the author of the book read capitalism. frasier, thanks for joining us. why has apple under tim cook been so drawn to china? look, i think it's a similar story for many producers, china has become the car was replaced of the world. they had very good day in

clusters of infrastructure for manufacturing. and so in that sense, it was a no brainer. you had ultimately, you know, in many their books gone in a lot of people, the relying on, i would need company set up factories in china. so again, i don't know, like the out of course, a very high profile company. the biggest company that lay wildly popular is you know, and so the follow the path that many others have done and send to very much operational chain supply chain focused. and china provided all those things that he looked for in terms of proficient. right. obviously, we know a lot about the supply chain issues that came out of the pandemic and the west reliance on chinese production. where is the china apple relationship today? look, i think all of foreign businesses in china are struggling colbert, as you know, yard report mentioned that. but then also the, the, basically the, the political field has changed dramatically in china under she didn't over the

past few years. so foreign companies are paying a lot more pressure and apple is not going to be, i mean from that, they're also feeling pressure back domestically in the states. and because of the reliance on china. so it's become, it's understandable, the cape so dependent on china for manufacturing and also for sale. you have to realize that the world has changed, but china has changed, and therefore they need to change with it. but the supply chains i have been built over years over decades. they're not changing fast. rival, we're obviously though hearing about some sort of shift taking place in any case, the cheaper labor in india, vietnam. what could such a shift mean for those countries? i think generally positives, i think, you know, which many of these other countries in asia, they've not been able to follow the expert, the export model or minute model. because china has been such a dominant force there. that is greece. other players are,

i think it's ultimately positive for vietnam, it's positive, but india and ultimately it's going to harm china. bit it got it. these are slow as almost title forces are glacial forces. at times it does take a long time, and i will struggle to some extent because those countries go and have the same sort of clustered infrastructure that china has. but those moves i move out of china that re balancing if you like, we'll be taking place and will not go into the various again. i will be hearing about the i found 14 out later today. frasier, how are you? thank you so much for your analysis. i very much well, sticking with china export growth, they're slowed significantly in august to growing only 7 point one percent year on year. that was down from 18 percent in july. strict covered, locked down, continue to disrupt production, and many analysts think china's long economic boom may be coming to an end. china's gross domestic product had been catching up with that of the u. s. decades of rapid

growth had led to predictions. it would become the world's biggest economy by 2030, but china's pandemic response and the real estate crisis there have changed the picture now with growth and exports faltering. some economists say china might never overtake the u. s. let's bring in so it's on han in taipei for more on this. so thanks for joining us. what does this slowing growth in august tell us about the condition of the chinese economy right now? yes, christy, at a time when most countries around the world have relax, epidemic control measures in china at least 74 cities and 313000000 people have been under 4 or posho locked down since late august is a big blow to the chinese economy. especially when china needs to rely more on domestic demand, their exports, and not only china's asper growth slow due to weakening external demand, but also the global economy is likely to slow down. the key challenge at china

faces is how to ballast domestic comic activities and content cope it al, brakes. okay, was pretty tough situation for china. it sounds like, does this change at all their ambitions to be the world's largest economy by the end of the decade? yes, definitely. besides om 0, covey policy, curb in housing speculation, an aging population and high debt levels have cost many expert to reconsider the timing of china over taking the united states as the world's largest economy. and even whether that will happen or not. more to that, the chinese government increase in tendency to intervene in private corporate affairs have also significantly lower expectations for china's economic growth in china's economic problems continue to pile up. china will be far less prosperous and less productive per capita than the u. s. and loose is competitive advantage. okay, interesting. well, so you're there in taiwan. what would losing this competitive advantage

a slowing chinese economy mean for taiwan? or some expert believe that if china goes into recession, it may soon try to of unified how one by force while it's still can. and also the fact is how a steel relies heavily on china for 40 percent of its export. and if china's economy keeps going down $1000000.00, how any businessman in china would also be dragged down by china's weak domestic demand. so these are all influences that we are expected to see. right. so it's an hon. thank you so much. now to some of the other global business stories making this russia's top lender spare bank expects russian g d p to contract by 4.5 percent. this year, fairbanks seo said the banking sector has begun recovering from the impact of sanctions and spare bank expects to post a profit at the end of the year. of tons of pilots have called off a 2 day strike after a last minute agreement with germany's biggest airline. the cockpit union said the

2 sides agreed on the basis of a comprehensive package of monetary and structural issues. a walk out last week, force the cancellation of hundreds of flights electronic cigarette maker, dual labs has agreed to pay nearly $440000000.00 to settle an investigation by $33.00 u. s. states into the marketing of the vapor products. the investigation found that drill marketed, it's e cigarettes to under age teens. with launch parties, product giveaways ads and social media posts, china will start paying for russian natural gas and rubles, and one instead of us dollars. that's according to russia's energy giant gas from. this comes as moscow seeks closer ties with beijing in the wake of western sanctions over its war against ukraine. bitcoin, it used to be a magic word for investors. first, it was individual risk takers who placed bets on the crypto currency than it was

companies like tesla that invested big sumps. but the biggest bitcoin, visionary of them all, was certainly naya bew kelly, the president of el salvador. he went big on bitcoin and promised to make this central american country rich. as of late, however, d kelly's big dream seems to be falling apart. oh, this is monica diaz doesn't remember the last time a customer paid with bitcoin. she says no one here cares much for the crypto currency. as for herself, she spent the $30.00 in bit con, that the government gave out to every citizen. and that was it. see, i also sure i bought something for myself with those $30.00. i'm about, i mean, after that, not much happened in her app. it's a far cry from the economic miracle president night bouquet they had promised. turning himself into an avatar for his fans, talking about investment wealth and a huge vision, reconsidering bit coin, city, and nearly tax free community run on energy from a nearby volcano to

a mission. lucille lee complex nixon, so far, none of this has happened. bitcoin has crashed and people still prefer us dollars. most of them barely have any savings anyway. they aren't just enough to get by with nothing left to invest in shaky bushel currencies. but of but allow up all assume salary. the instability of bitcoin is a problem for people. a drop of $0.25 a day can make the difference between a leading and not eating or nakamura. in as sante tourist hotspot an hour from the capital city, people were looking forward to the bid con project, expecting visitors to pay for their coffee using crypto easy. i run to get done, we thought they would all come to be part of a big con revolution. turns out the revolution never started. hotel owners were early adopters, have become weary as bit coins value dropped. the little bit one more fussy

thinking, oh, it's not easy to understand bitcoin. i think there's potentially a long term investment, but that would be my personal risk as an entrepreneur been your, if it me reaction the can 2nd go lot president for kayla has invested public funds and bitcoin and it's unclear how much were the laser sweets gives some hints, economists, ricardo castaneda puts his estimated $225000000.00 and expect a loss of $60000000.00 some records those couple. the young is that money could have gone into education or into feeding people as half of the population doesn't have enough to each other. since they would eliminate that monica diaz had invested $20.00 in bid kind and lost half of that. like most people in el salvador, she prefers to stick with you as dollars. now and finally, ukrainian president laudermill lensky has paid a visit to the new york stock exchange. well, virtually, at least he rang the opening bell and urged business leaders to invest hundreds of

millions of dollars in ukraine. war torn country is aiming to rebuild infrastructure strength and national defense and exploit its natural resources for the benefit of your children and the want of your car. a quick reminder of our top story. new i phone is set to take center stage at apple's 1st live events since the start of the pandemic. but rising cost have apple rethinking its reliance on chinese production. that's our show, i'm christy. platinum, berlin. thank you so much for watching. said morrow. ah good bye. neutrality, hello nato. finland wants to join the western military alliance. the association of reservists is in favor of the move. conscientious objectors

rejected. what are their reasons? and how does the rest of the population view the end of neutrality close up next on d w's. these places in europe are smashing the wreckers step into a bold adventure. it's the treasure map for modern globetrotters. discover some of you to record breaking sites on google maps you too and now also in book form the dice. com. finland has applied to join nato. 20 year old really knew me and his fellow pacifists believe this is a mistake and a dangerous one at that. no me is a conscientious objector and can't understand why the country has.