destroyed wheat harvests are set to make that worse. this is the w business. i'm janelle dumas and welcome. china's economic growth is set to fall behind the rest of asia. for the 1st time since 1990, according to the world bank expects the chinese economy to grow 2.8 percent this year. nearly half of what was previously forecast. the slowdown is lauraly, largely due to a downturn of the property market in beijing. 0 cove and policy, the world bank cut it's forecast for the asia pacific region as a whole. to 3.2 percent. we're joined now by our china analyst clifford kuhn and good to have you. so in more evidence that the world has turned upside down, the rest of asia, clifford is doing better than china. what are the prospects of the chinese economy now? what's funny, have we gotten so used to china being the leader and the strong growth figures

coming from there? i think that there's a lot of challenges facing the chinese economy right now. we have the 0 cobit policy. as you've mentioned. this is interesting when you compared to other countries, which i've also had quite strict ppo policies, but seem to have managed a better without the shutdowns that they've had in china, which of course, played havoc with that with the economy. there's $23.00 countries in the region and china comes for 86 percent of economic output. so whatever way you look at it, we need china to keep growing. but it's, it's also facing the prospect of the 20th party congress coming up at which the leadership team ping will reinforces is rule. and that also means that there's not much happening in china. everything has to kind of stay as it is in term, in economic terms. and then we have a problem facing the property sector, which accounts for about 30 percent of economic activity. that's also in trouble at the moment. so there's a lot of headwinds facing china right now. never a good time for a cut in a forecast,

but this timing is especially in auspicious. so this is a huge cut in the forecast for a region long considered the engine of global growth. what does this mean for the global economy then? what i think is going to be interesting only if you cast your mind back to the ninety's when we were talking about the tiger economies. i mean vietnam was the fastest growing region, assorted country in the region. i think we're going to see more growth coming from other economies. as we say, china is still a giant in the region, but i think the rest of the world still needs china. it still needs it's, it's, i put, it still needs. it's such a key factor in the supply chain and m ultimately, we need channels to recover in order for the, for the global economy to, to recover. i think the prospect's going for that forward all depends on how, how 0 coverage moves. if she jumping decides to keep it going, that's whatever is worried about at the moment because people are hoping for a stimulus plan, perhaps in china, which won't happen as long as 0 code is happening because it will just fizzle out.

so i think m how the 0 coven policy develops in china is going to be absolutely crucial to seeing how the economy develops. cress of the world, still needs china for better worse. clifford coon in, thanks so much. now as me heard there, it's a difficult time from any economies to be sure, but countries are also having to face the consequences of climate change fuel natural disasters. the recent floods in pakistan claimed more than $1500.00 lights and the government estimates losses of around $30000000000.00. the food supply has also been endangered. after wides waves of agriculture land were affected. wheat is planted mainly in punjab. but wheat fields are also found in the province of sinned, which was heavily affected by the floods. the trains aren't running any more after the flat damaged infrastructure here. it's devastating, not just for travelers, but also for the many porters who work the line stations that been jobless as the

rain submerged, large parts of pakistan. why my conduct could i get it now? will i pay rent? somehow? i saved my family from the flood that brought them from my village to karachi, thinking i would earn money and support my family. but i haven't been able to earn anything because trains aren't running and plain and bundle they. i began cutting. the deadly flood submerged a 3rd of pakistan. farmers in affected regions. don't know how they will feed their livestock. but he loved you or you say yeah god, god, elbow a yet this grasses rotten because of the floods. i mean it has turned black. oh yeah. it can't be fed to the livestock. yeah, that means that the animals will starve and die as a result were caught. i got all my guy yellow around 700000 head of cattle drown during the floods alone, according to official estimates, the livelihood of many here wiped out. it's a catastrophe. many are trying to sell their surviving livestock at the market,

but no one is buying because there's no feed. oh, the little there is now too expensive. rewarded modern gave without a better era. we have been destroyed by the floods ludhiana. our animals are dying corner monarch, no one is bind them pony were helpless afar. we appeal to the government to buy these animals from us and we have nothing to eat as are ready. how are we going to feed our animals? our corner? i've got all my luggage data. people are desperate. the facts of the disaster will be felt for years. packets done, not only needs billions to rebuild. it also needs hope. my colleague, order and run joins me now. speaking of hope or what more can you tell us about the destruction of the harvest and how it's impacting the lives of pakistan is, is their hope. well, i think that's a tricky question. of course there is hope,

but i think more than that there's also a very big, a sense of loss and devastation. people have lost their homes. they've lost the way they make income. they've lost their livelihood. a lot of people in rural areas have difficulties even accessing shelters where it's not, you know, totally drained out or whatever. as you said, the estimated loss is over $30000000000.00. and prices that were already skywriting, skyrocketing priority to the floods have now gone up for 5 full even further for tomatoes and onions that are like there are so necessary for just households for dinner and lunch, and inflation and stability. political instability has made it even more difficult . and so i definitely do think that there is hope, but i think a lot of work needs to be done to rebuild it. so a confluence of factors there, but i wanted to zoom in on the agricultural industry. what has the catastrophe meant for pakistan's agricultural industry while so pakistan is mainly driven by

agriculture. so a lot of the times you know, how you assess how an economy is doing. you assess that with, with agriculture it back then we'd as our main stable crop and agriculture is over 19 percent of the g, d. p and employs almost 40 percent of labor. so as you can tell, that's really important sector and a little change even. and this is huge, but even a little change can have devastating impacts on the way people move. and so when agriculture is impacted it's the economy is going to have a hit. now how does this flood? there were already worries about pakistan's, our financial situation, some or even saying it might be the next 3 lanka. how was the government coping with this situation? that's now gotten even worse. well, i think that's, that's the biggest question is how will we deal with this? once we go forth, is the peak of payment coming in in december? i think it's an international bonds. and what analysts and experts on ground predict that funding bodies like the i a method step in that when they obviously do so, they come with their own

a kind of parameters of policy change. and there's always internal rift on how to react to these. but it seems that the growth is that the government aimed for i think earlier was touching 3 percent. but now it's, it's a bit of a more sad outlook where it says this, maybe even 2 percent would be difficult. but i think in terms of aid or relief, there has been a lot of positive outlook from countries in the region and funding bodies that are actually trying really hard to assist a son in this way. so let's hope that it gets better than thank you. are to in run, they're talking about the economic toll of the pakistan floods. now to some of the other global business stories making news. the british pound has recovered slightly after hitting historic lows against the dollar. on monday one pound was trading up $1.03. the debt prompted calls for the bank of england to take measures to shore up the pounds value. russian german gas pipelines north stream $1.00 and $2.00 are

leaking gas into the baltic sea parts of the senior. the danish island of born home have been closed for traffic energy supplies to germany are not affected as their currently no gas deliveries through either pipeline and speaking of gas households in germany are gearing up for an, an expensive winter with energy prices many times what they were a year ago, germans are looking for ways to keep their bills down and get stay comfortable in the colder month. t w's mill tow schmidt reports. i'm facing 3 problems. i'm using natural gas for heat to boil water. and for cooking. last year i've spent about $1500.00 euros on natural gas this year, 3000 euros, and it's getting even worse. my family is part of germany's middle class. we make

around $4000.00 euros a month after taxes. but ever since prizes started to go up, i'm wondering how much longer we will be able to manage. i live in berlin. i'm not want to splurge, own spontaneous per chases, because i am aware of rising energy costs. russia has stopped gas deliveries to germany almost entirely. prices have gone up 80 percent and more to protect gas and porters from southern bankruptcies. gas customers will have to pay a levy, starting in october, an additional $3.03 per kilowatt hour, including texas. now this levy will hit disproportionately that half of the german population that heat their homes and natural gas to sort of make this section of the population responsible for this

seems a bit unfair to should be spread over the entire population. thomas o'donnell, worries about recent gas price trends. even a storage is full. ah, that will last only about 2 and a half months in the heating season. so end of december, sometime if there's depends on how cold is we could use it a very fast, then you're going to have a situation where there's simply not enough. you can't import as much energy as used to come through the pipelines for russia. so. ready it's going to be rationing . the big question is, what's the lowest temperature we can stand in the winter time. it's obvious. the cooler the room temperature, the bigger the savings. my wife has found another way to save around 20 euros per month. we have to switch the net and again my name again is

sent one within 9 months. i don't feel poor, but it's frustrating because nobody knows when this crisis would come to an end and thats herself for more checkout d, w dot com slash business and the d. w. news. youtube channel were also on facebook for me and the business team here in berlin. thank you so much for watching. ah ah, with

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a major milestone in their lives seduction and power ice cold passion starts october 8th on d, w. ah ah, business dw sly from berlin. sabotage is suspected as gas leaks from pipelines connecting russia to germany. denmark's navy releases this footage of gas bubbles formed in the baltic sea. they throw another highlight on europe's vulnerable energy security also on the pro.