all now because that would involve lifting sanctions on the regime at the same time as they're doing these other things that are drawing more restrictions. and we're told that that's really not getting a lot of attention now. good not. there's not a lot of appetite for that in either europe or the united states. and it remains to be seen whether t ron is even interested in continuing to discuss it. given the most recent developments, i was state of least her. she'll stay speaking to us from brussels a little earlier on watching data, but he needs from berlin and we had done that for this our christy pledge and has your business news that's coming up after a short break from now i'm at me out ex with many portions of lunch turn out in the world right now. climate change, if any story. this is my flex, the way from just one week. how much work can really get

we still have time to go. i'm going all with his subscriber all morning. he was like what secrets lie behind these walls? discover new adventures in 360 degrees. and explore fascinating world heritage sites with d. w world heritage 360. get the out now. ah . a clash over taiwan. but cold war fears. cool. at the g. 20 in bali, u. s. president by him and china, jane ping warm to each other, amid fears of a global recession. also on the show, climate killer coal is back in the spotlight after russia's war and ukraine

triggered an energy crisis. we'll take a look at what that means for the planets and investment in renewables. i'm christy plats, and this is d w business in berlin. u. s. president joe biden and china gigi ping met in bali today to set what they called guard rails for future relations between the 2 super ours tension between the world's 2 largest economies have grown in recent years. as beijing becomes more powerful and more assertive about replacing a global order led by the u. s. the leaders engaged in 3 hours of blood talks and came away with a commitment to fierce but fair competition. for more in this i'm joined by clifford coon and he's our resident china analyst clifford. what stood out to you about these talks? did we see these so called guard rails appearing? well, i think we thought we had guard rails. we had red lines in the run up, we had all these terms that were flying around them, utopia candid talks,

and i think the big takeaways the communication lines are back open. i think that's my key take away from the whole thing. i think the optics were very good. i think she jim ping was smiling. they shook hands, which we didn't even see last week when jobs are all shells visited beijing. it was there was definitely a kind of a warmth there. so the optics were very positive. however, the fundamentals haven't changed, none of the things that are dividing the world to great super powers, economic super powers as well have actually changed. they're still divided on key issues such as taiwan, human rights and change, young tech, trans fair and semiconductors. and the other main issues dividing these, these huge economies. so still saying more the same there. i mean, talking about taiwan. specifically, for example, obviously a major chip producer for the world major electronics producer. we've seen more aggression from china when it comes to claiming that territory. the u. s. also

saying no, hold on a 2nd. when it comes to that, did we see anything in the talks about taiwan? what more can you say? well, there was the 1600 word readout from the chinese foreign ministry. on the talks on taiwan was the absolute priority there that there is no, no change in taiwan china seas, taiwan, part of its territory and in bible and it, you know that the u. s. is to steer clear at the same time. this is an example of how geo politics feed into the economy. because this is the reason why the u. s. and china are strategic rivalries is because of these ideological differences. and these geopolitical differences feed into the economy because the u. s. doesn't want to help boost the chinese military by giving it micro chips that are produced either in the u. s. or through with allied taiwan. so it's imposed these restrictions. so taiwan is the central issue in these talks in macroeconomic terms, just as much as there is a geopolitical issue. now there's been increasing nervousness in the west about

dependencies on china. for example, with photovoltaics, the majority of those are produced in china. did we see dependencies as an issue that was discussed today? i think hanging over the hang over these talks. first of all, there's the threat of global recession. i think that's the reason that the talks took place. and one of the things driving the possibility of a global recession has been the problems with supply chains with the supply chains because of covered and then because of other tensions, have faced a lot of difficulties, as we've all seen over the last 3 years at this point and so i think the dependencies is always a factor and when the, when these 2 superpowers meet and they will have informed every sort of decision along with, at the further complicating aspect to supply chains. which is, which is china, support for tacit support, a best for russia's invasion of ukraine. and, you know, talk about supply chains. i also want to ask you a quick question about the 0 covey policy. there's talk that china could be lifting

that soon. is that and then finally, getting into financial pressure, what do you think? yeah, i think the fact that everyone is worried about a global recession is, is forcing kind of decisions now from, from both from both children paying and, and also from biden. indeed, the fact you know, that we had the talks, but also yes, they're going to possibly start relaxing 0 cove. it measures which of, of the economy in stasis, basically with very little movement, is also signs that am, china, is going to start addressing the huge debt issues that it's facing the property market. so i think, and there are signs that both the world to the 2 worlds biggest economies are going to try and get the global economy moving again. clifford could and thank you so much. all the markets also had their eye on the talks today. so from one outlet, 3 in teddy austria, new york, teddy were investors also picking up on the warm vibes of tween biden and g. what were we seeing from the markets today?

will the markets actually were pretty choppy today? wall street ending in the red? how much can we attribute to the talks between fight and and g? well, we definitely saw some chinese stocks listed in the us do some rallying due to the renewed communications between the 2 countries. but also because of the easing of code restrictions which have over the past 2 years, really done some strain to the supply chains done some damage here in the united states. so that is some good news, but really the fluctuations we are seeing today have to do with interpreting some of the unintelligible fed speak we heard from earlier today. there's lots of questions about the ease, the easing of the federal interest rate hikes. but there are more questions than answers at this moment. that was tell you had yasser on wall street thanks much for that. on his way to the g, 20 german chancellor, olaf schultz stopped in vietnam and singapore to gauge opportunities for german business. germany wants to reduce its heavy dependence on, you guessed it,

china and d. w. richard walker spoke to siemens seo, roland bush, asking him whether germany needs to diversify its business partners. it depends on how you define here, define it. if diversification means during lesson china and instead of doing more businesses and others, i don't believe this is the right thing to do. i think it's doing additionally more in other countries. the point is that if you think about when you allocate room and euro of investment or for dollar of investment and you added into an existing running machine on a big market, which is fast growing the returns of faster than if you start in your, in new areas, new markets. so, but we have to acknowledge that resilience is or has or for a price. so therefore it is worthwhile investing now in new markets and diversifying. but on top, on top of what we do in china. so for me, this is of the strategy we're siemens, assuming that you can continue investing in china,

we want to keep or even increase our market share there. there's nothing bad about it's taking the chances we have. but at the same time, looking into other markets with a stronger focus and grow our business there too. but there have been quite cautionary notes about china at this conference. i mean, the former australian prime minister, kevin, but just speaking earlier today, talking about china moving to the marks is left on the economy and to the national is right in terms of security. and as she gym, paying, as we've just seen at the recent party congress, what does this mean for a company like siemens which has significant investments in china? young number one is um, as long as we take our make our return, we make a profit to go. the chances are it's, it doesn't really change our strategy. and if there's something disruptive happening there, then we have to deal with that obviously. but until then, i don't, i don't believe it's a good idea to say pre cautiously i pull out of

a market which has use opportunities for us because you never know the same time and what we do definitely if lee is working or supply chains, which is another dimension, there are 2 dimensions of diversification. one is the market accessing and low on supply chain. of course, we are diversifying our supply chain very much so, so that in case something happens, yeah, for an export control regulations that we have double sourcing and we can keybo operations running in other countries, of course. so therefore, i do believe that's the right strategy and, and we feel quite comfortable that i would subscribe or sort of the scription for of mr. rod yet you would agree with that. yeah. so, so, and you say in case something happens, i mean that, of course, the big sort of scenario that people are worried about is chinese aggression against taiwan. we have seen what russian again, aggression against ukraine has meant for the world economy, a company like siemens. what are you doing to prepare for a scenario like that?

you must be factoring that into risk planning? yeah, i mean number one, as i said before, earlier analyzing our supply chains and see where, where is supply coming from. our deliveries between countries and hol, can be diversify, so that we have in case a double sa, sick. so this is one thing we gonna do, and the other one is diversifying the markets, which we are working on, that another element. and the last point is that i'm a little bit more optimistic here. i hope that rational prevails at the end of the day. because there would be only loses that was semen cl roll on bush with d, w as richard water. the demand for coal is expected to hit record levels this year thanks to an energy crisis triggered by russia's born ukraine. many countries, including germany, are falling back on the climate killer and south africa is profiting from the surprise demand easy. they're on their way to a 12 hour shift in the mines here in him from

a longer in the north east or south africa. coal is a big part of life. nearly a 100000 people work in it, and it accounts for 80 percent of electricity production. but his future is uncertain as of africa tries to taco climate change. oh i did, i did it. it's sad because there are a lot of mines which employ many people. if a close, a lot of people would struggle the mind, the very important in our lives, and also coal because we even make fire with it. so it is very useful. last here to help south africa switch, its power production from cold to renewables. europe promised at billions, but that has changed since the west sanctioned russian coal amid the war in ukraine . cold prices have sword and south african coal exports to europe have increased nearly eightfold since the war began. it's a dilemma. i also own entity energy,

which will think his capacity was, wasn't seen as the megan almost done. wonderful. she also with deserves that us the live the, comes this in a lot of his to me obviously white out. and then then we'll exist. south africa and fossil fuel companies are profiting from record cold prices and soaring demand. so for now, moving away from polluting energy sources is once again on the back burner. that's our show. i'm christy flats and amberlynn. thanks for watching hulu. ah oh, this is a nation. europe, china spell to monroe to culture. leaders of the gigantic venture promise new partners, the loss of growth. we visit 3 cities,

which are already part of the silk road initiative and where the feeling of dependence is growing. up. next on d w. a pulse with the beginning of the story. that moves us and takes us along for the ride. it's all about the perspective culture information. this is the w. w. made from mines. oh mm hm. which meant she's,

mom said, can i get the country? i came up with an increasing number of women in latin america of guessing fed up. there needs to stop mad doing and depressing us. net fighting against sexism, violence, and full access to abortion. pressure from the street has already proven successful, but opposition is on the rise pads off with my cheese dogs november 25th on d w. b ah, every day masses of cargo containers arrive in europe. a growing number come from china.