ah, we made that one there. our 1st house died and we lost the game. what do we are proud now? because we have one of the best, you know the world. and you shall love or the next order will be more ready than today. the only sad thing is there was so many opportunities to be in the goal, and i think the players were under a lot of pressure, but i'm extremely proud and happy for where we got here. so they've already written history. if it comes to me, overwhelming sense of pride that you're up to date business news is up next. thanks so much for watching dw, with the breeze. ah, they have body and soul houses that daniel leaders can

construct are more than just buildings. he is the son of jewish holocaust survivors. how lucky that i was able to build to jeffries in berlin. his architecture is a celebration of democracy and i, and architect of emotions. daniel starts december 25th on d, w. o . another month, another interest rate hike, the federal reserve increases borrowing costs, but the european central bank expected to follow through later today will take an in depth look at what these policy decisions mean for emerging economies, like india also coming up after rely if 0 cope,

it policy infections are on the rise again in china. so what does this mean for the face of the world's 2nd biggest economy and the remnants of a global forcing events. we look ahead to what will happen to guitars world, to cope infrastructure once the funds go home. this is d w business. i'm kate ferguson. thanks for joining me. the u. s. federal reserve has led the way with another round of interest rate hikes with the european central bank on the bank of england expected to follow later. today in the us rates are going up by half a percentage points with the fed indicating that further hydro are on the card. it's the 7th time this year, the central bank has raised borrowing cost. those policy makers rush to bottles soaring inflation. the policy move is a big concern for countries like india, who's emerging economies are heavily influenced by the strength of the dollar. for

more in this, let's talk to cherry at carter k from d. w is asia department. sorry. good to see. maybe you can explain to me why our interest rates high in the us, or even in europe, a source of concern for emerging economies like india. right. good. so here's what happens is when the u. s. fed hikes, it the interest rate, the difference between the interest rates in india and the interest rates in the us . it shrinks. now this matters a lot for foreign investors because usually emerging markets give better returns than developed markets. but when a developed market like the u. s. or where they, the rates are i there and what happens in a developing market like india is that the developing market becomes less attractive for, for investors. so there is a capital out for foreign, mr. take their money and well from markets like india and put them in u. s. talks, which are relatively less quality. so the, but becomes

a case of capital outflow. then the ruby also suffers its value, goes down. if the value dips significantly than the reserve bank of the nose, also forced to sell dollars to stabilize the value of the rupee. and this leaves in this leads to depletion of foreign exchange reserves as well. so largely on these 2 count, this is how it impacts leaned in economy and then other cyclical effects take place . kate wonderfully simply explain. now, despite the challenges india's economy establish rolling rapidly, what would you say is the high that resilience well kit, i think the jury still out on that one of course a most over a global agencies. and during the world bank and, and the asian development bank, they have come out recently with this analysis that in economy is largely resilient . and it is because of the growth numbers that it is consistently showing up consistently. 6 percent plus growth rate is registering, which is a remarkable given or what the global situation is right now. but on the domestic

front front, many economists would beg to disagree at looking at the situation here because they feel that while our growth is definitely picking up and inflation also appears to be cooling down, our unemployment remains to be a big, big crisis. recent numbers reveal that unemployment is that afford ticket high, there's not been be a significant development on that front. and also for this area in gale. so appears to be headed for a high current account deficit. so some concerns on those front, but yes, the growth part is definitely a silver lining in the cloud. and just thing that the feeling on the ground is so different from the forecast. now an indian, i'm in a thinner and m o t. he has been trying to lower investors over the past few years with his make in india campaign. how would you say he's been faring with that? oh, well it's, it's created a good buzz, strong buzz for india, a global india is now seen, is, is being seen as

a country that has the ambition to become the next next factory of the world. and her are tracked a lot of investment from china towards india. the situation in china is also helping india bigger the china 0 covered strategy has led to franken manufacturing there. so we've seen players like fox gone show interests in india. also, new policies has been announced, are now a semiconductor policies, also in place, which are which the ambition of which is to make india those future semiconductor. oh, factory. a. but then all these are still plans in the making this, it's this not something that has, there's really showed a big results. in fact, the latest numbers that came in there will be short contraction or in manufacturing . so that's how the situation here is right now, get her right, tire cat. okay, thank you so much. turning to china where the latest figures on industrial production and retail sales for just a further slow down in growth,

momentum in the world's 2nd biggest economy. industrial production rose to point 2 percent in november, a much smaller rise than in october. retail sales didn't fair. well they were down 6 percent year on year, the biggest fall in 6 months. the figure is published by the national bureau of statistics come a week after the government relaxed it's 0 covert strategy in response, in response to growing public on rest. to talk more about this, let's bring in doris fisher, professor of chinese business and economics at the university of it's for doris. well, come along and it's rather lackluster date. it does come a week after the government east. it's 0. hope it restrictions, but infections are on the up again. what can we expect policy wife? well, the decision to lose a covered policy was probably already a result of the government, anticipating of economic pressures that they faced now. and the government will

look into possibilities to push for more local demand to recreate trust in the kinetic development probably will come up with some support for private enter printers. who are the biggest losers i would say, and especially the smaller companies in the past month policies. and so we will see, and it's already coming out actually that was already announced a policy for him, for boosting demand coming out today from the state council. so we will see more of that, and the government seems to believe that well to hope probably that we will have a very short period of, of really difficult of a very difficult situation where a lot of people fall at the same time, but that afterwards they can somehow recreate the dynamism or some dynamism to get over the crisis. you mentioned public trust there,

but we are thing worth of medical supply shortages in some places that people panic buying how big of an issue is this? well, it depends a bit on how we assess as a severe and it's after potential infections that now circulates through the population. the chinese, i mean, there are 2 things that i think are and, and especially in demand. and one is a personal tests, a private test that you can do at home. and the 2nd is a certain medication that the chinese government has in the past propagated at being very helpful against at least the symptoms of a covered infection. and a, well, we in abroad have not necessary to use those, or we have probably more use of a penis celine or so. i guess it is a problem, but the, some of those infections may not be as severe as feared. so for those people leave, the medication may not be important. i think the most critical question is how many

intensive care units that government of the hospitals have in place, and how many of these will be necessary to support those people who really suffer severely from. covet ok, doris and finally briefly with momentum slowing down in china. what impact is that going to have on the rest of the world? oh, we will of course feel that i think oh, those are some has this has been partly anticipated because until let's say 2 weeks ago we were expecting that the economic situation will be difficult because of the lockdown to china. now we have to prepare that the in the coming weeks the situation will be difficult because people for little fall, ah, so, so in a way this has been anticipated. but of course, we also have to hope that the calculation of the chinese government, that this will be a several weeks issue and afterwards or china will learn to live was covered. and somehow that you come on, we will recover that. this is kind of our hope is going to materialize or from some

chinese economy so that they expect that it will take about a half year to for the chinese government. sorry for the chinese economy to really consolidate again or to strive again. right. start, fisher. thank you so much. thank you. now to some of the other global business stories making knees did germany may manage to avoid a recession in 2023, according to the keel based institute for the world economy. it's prognosis compared to other reasons. it's which the chest that europe's largest economy is on course, for a contraction next year, or b as a less severe one than initially thought. the you is pointing to invest 10000000000 euros in southeast asia. it's part of a plan to offer a kind of way to, to china's influence in the region. the news came during a meeting in brussels between the leaders of the you and the association of southeast asian nations. most

expensive and controversial wild comp in history, which is at the final stages. it's still unclear what will happen to the $200000000000.00 worth of infrastructure that was built for us internet support. we'll look at the possible face of stadium 97 for a temporary arena, made entirely of shipping containers. in this ancient r a board game, it's all about strategy. mohamad al slighty loves playing darma essays. the game helps keep his mind sharp. now his playing with foreign football fans, teaching them the rules while bringing them closer took a terry culture. woke up visitors aren't just expected to leave with memories of football here, but also elements of good terry culture. and have been this villain. that's very important for us to keep our culture alive and helpful and we're using the welcome as an opportunity to share our cultural heritage and our perspectives with

a whole world of talk though, le papa of mumbled in a literate cutter is also planning to give the football world, a whole new stadium, stadium, $974.00, made up of $974.00 recycled shipping containers. it will be dismantled out of the world cup to be shipped and rebuilt in another country. your goal is interested. it once points with sustainability for its 2030 woke up bid. climate activists aren't impressed. it's an interesting idea, in theory, in practice, the arvo should details on what's actually going to happen to the stadium if you don't transport it or you're transported super far, and then you just use it once. it's actually worse for the climate than if you had built 2 stadiums in those 2 different countries. some experts consider the world cup a milestone when it comes to footballs. transformation never have so many people from the arable visited the event and rarely had there been so few european fans after all, never before where flights and hotels as expensive as this year. the most popular

form of popular entertainment accessible to the masses to one that is geared towards it. leach, just look at the pricing. the world cup and cut are, may have been the most controversial one ever still carries hope that fans will take something good home with them, even if it's just the da marbles and that's all from the nfl team here in berlin from where you can always go to detail the dot com slash business. any of the finest on the did up in is get your channel and all that fine. it's good bye and taken eco, india. how can a country's economy grow in harmony with its people and the environment? when there are doers who look at the bigger picture, india, a country that faces many challenges and whose people are striving to create

a sustainable future clever projects from europe and india equal india. next on d w a, she's got it is to thought they were great a with a fundamental part of life on earth where the rain forest in added regions are in the underwater was.