germany decides to extend the life span of another of its last nuclear power plants, as the energy crisis forces a re think about supply and a hawkish monetary policy being felt around the world will show you what the impact the federal reserve aggressive interest rate hikes are having outside of chris kolber, welcome to the program. the communist party congress is in full swing and beijing and chinese stocks are up. that was premier lee catch young vows to support economic growth. he made the remarks at the ongoing congress and just a day after china delayed the release of economic indicators scheduled for publication this week, including countries. 3rd will quarter g d, p. data. visitors are closely watching the congress where the parties general secretary jumping, is expected to be handed a 3rd term in office. now,

despite government leaders stressing that things are looking up, chinese economic growth has recently faltered for a long term boost to state and party leader. using ping is relying on domestic consumption. however, there is a problem. china's population is agey. last year, roughly 18 percent of the population were younger than 14 and 13 percent were older than $65.00. now the united nations are expecting a significant shift by the year 2050. by then, according to a new study, only 11 percent of the chinese will be under 14 and seniors. over $65.00 will make up a full 3rd of the nation's population. for some more insights, let's bring in valerie tan. she's an analyst at the mercator institute for china studies. welcome to w, valerie. after decades of a one child policy, the communist party is advising or allowing families to have 3 children. now, why is china's birthright still one of the lowest in the world though?

i think there are many reasons that isn't one of the key reasons that we should really highlight in like congress going on in beijing right now, is to like patient in chinese politics when you don't have it. now women been represented in government than women's issues, such as a battery, such as relating to gender equality, represent documents. and that is why one of the reasons key reasons underlying this is that on the ground that women in china feel economically and socially insecure. and they don't see that need to have more than one year despite the state and party leader jim being saying is going to rural, establish a policy system to, to a booth birth rates. i mean, there have been measures like tax deductions, longer maternal lead maternity leave, enhanced medical insurance. all these things have put in place. they're not showing

a real impact on the well, you can just simply throw money at a problem and expect people to rush in hospitals. or if i have kids at home, the issue really is more than just about money and financial support. sure, those are important things as well, but they are real structural issues on the ground that have not been resolved. if you realize that in the past year, we have been hearing a spade of high profile cases where there's violence, harassment, and domestic abuse case this really coming up to deserve is in china. those issues and those cases really reflect the fact walsman to protect women. when women don't feel secure and society, wendy, don't feel economically secure than they do and see to point. like i said earlier about having children because their children won't feel safe in an environment in that environment. what impact as the sir demographic trend having on economic growth? well, we are about to witness

a demographic crisis in china as highlighted by the united nations, as highlighted by the population planning authorities, but in china. so and one, the key thing that we would like to highlight here as well is that the population planning in china is releasing a survey, results about how women and how can families feel about having sure. so that's one thing to watch. but in the longer term, this means productive. anti and production and manufacturing will take a hit because in the global competition, when you have an aging population, people ask what the longest. and it over the age they're forced to retire. that is not something that the chinese society will be able to accept and also like will, the younger generation will be see more people be able to take on more jobs. and this is a big transition. an adjustment for china right now. well, are at the same time one can argue that countries like japan, like germany,

they're also facing an aging population. but there hasn't been a real let down and growth when it comes to does matter. yes, i think that is something that china is also been watching and drawing lessons from . that is why you see the government investing a lot observation. autonomy cost trying to like many alternate processes that used to be done by humans. but at the same time, then you also get social policies. is that enough of the social welfare to support the asian population? because if you don't have enough resources that, that is great to financial pressure on families who are like, you know, who is the one child a written by national pressure for them to support elder parents, grandparents and yeah. in those then that needs a lower capacity for them to consume and spend right. well written of the mercator institute for china studies. valerie, thank you. an auto,

some of the other global business stories making news. exxon mobil says it has completely left russia after president putin expropriated is properties. the move from the russian leader followed months of discussions. exxon says it was not compensated for the assets, which are estimated to be valued at $4000000000.00. a group of 8 starbucks employees in south carolina and united states are soon the company. they are part of a unionized group of workers and say their manager has falsely accused them of assault and kidnapping. after they demanded arrays. large financial institutions have increased their funding to companies responsible for deforestation around the world . that's according to the forest and finance coalition. the n g o says that financing rose over 60 percent to $47000000000.00 from last year. and all 3 of germany is remaining, remaining nuclear power plans will stay operational until mid april. that's after

a decision. by chancellor, all of shots of the social democrats, the measure is targeted to help the country through an energy crisis energy from the power plants replacing gas deliveries from russia without creating a bigger reliance on coal. all right, let's take a look at this controversial matter with cassandra. sunk from detroit business. cassandra, tell us more on why the chancellor needed to put his foot dock. there was a big meeting this weekend. all 3 coalition partners were there to hash out some of these details. there was an agreement that some of the power plants had to stay open, but the stalemate was which ones and for how long. so the chancellor did put his foot down. he has told his cabinet ministers in a letter that the 3 remaining nuclear power plants will stay open and tell it to proposal together to allow the 3 remaining and power plants to stay open until april of 2023, to the political divisions bridge to your for the moment will keeping the plans

open, solve the energy crisis, and no one thinks this is the silver bullet. chris and the chancellor himself acknowledged that he wrote that there is a need in germany for an ambitious energy efficiency law. for example, prior to the russian invasion of ukraine, you'll remember germany's a big pillar of germany's energy economy was cheap russian energy. and now that pillar has been functionally removed. everybody's trying to move very quickly to build up this infrastructure as quickly as possible to gain a little bit here a little bit there. and keeping these 3 nuclear power plants open for longer than they were planned for is one of the measures that they're putting into place. tell us about the costs of the step does move the costs and benefits right now are still kind of being felt out. so experts are saying that keeping these nuclear power plants open is critical, especially during times of high demand, which we're anticipating as the the nights get longer and the days get colder. germany's industry lobby, for example, has also welcome the delay,

but they've acknowledged that the german government does need to put more effort into securing cleaner morph, climate friendly energy, not only in the long term but also in the short term. meanwhile, glean peace has criticize the move. they said in this age of hybrid warfare that were in that nuclear reactors could be a target d, w versus cassandra on to the central. thank you. now, according to a benchmark index, the u. s. dollar is up 18 percent this year against a basket of key currencies man trying to combat record inflation. the federal reserve has been aggressively hiking interest rates in the united states with the impact showing far beyond us partners. as long as there are a current, there's a need for people who can fix them. but in this repair shop in nairobi, one of many in the neighborhood times are increasingly tough. the business is struggling. customers are unhappy. the cause, the strong us dollar and relatively weak local currency,

which is sending prices through the roof. sometimes we find that they say increase about 10 to 20 percent in the cost of a fair fight within a period of maybe $5.00 to $6.00 as 6 to 12 months. we ship, why not expecting forest lake now? we are in wholesale and retail of pots and you find that men, most of the customers complain a lot just down the road paths dealer, albert che, feels the same pain we are continuing to to lose if i used to pick my children to holy. disney cannot do those had holy does anymore, because i am at the of the we can actually it's a phenomenon which is hitting small businesses around the world across all sectors . in easton, bull chill out cali, sells infant clothing and diaper bags in his 2 shops. the letter wasn't that we purchased material and paper manufacturing in u. s. dollars that we sell in turkish lira. that's the problem. it's why kelly has

to raise prices for turkish customers who have to pay him in the degraded local currency. arising dollar is causing pain overseas in a number of ways. it makes other countries imports more expensive. it forces central banks to raise interest rights to defend the currencies and keep money from fleeing their borders. it squeezes companies, consumers and governments that borrowed in dollars because more local currency is needed for loan repayments and those higher borrowing costs we can economic growth and drive up unemployment. now, have you ever stepped on a lego blocks in your kid's room? out, right. well, step on this, a lamborghini built entirely out of lego. it took 400000 pieces, 154 different shapes, and just the day this cool ride was showcased at the paris auto show. looks great,

but sorry you lego and throws yes out there. it won't come as a kit. hm. that's our show for more news and background information. check out our website ad d, w dot com slash business. and of course the d w's youtube channel. it will bring you all the latest news from around the world. i'm chris kolber, on berlin from me and the entire business team. thanks for watching. have a successful with ah, with

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