presidency of the g 20 we ask, how will the rent remote in leadership shape most of the global economy and how to make the construction industry more sustainable? we'll give you one concrete example. this is the w business. i'm kate ferguson. thanks for joining me. troy sir has kicked off the new year with 2 major moves towards a further integration into the european union, as well as adopting the euro common currency. it's also joined the passport free shannon zone. for the next 2 weeks, corporations will be able to use both our old crone up on notes on the euro. then. ringback it's final good bye to the old currency. the country joined the u 10 years ago and how to introduce reform to prove its economy was sufficiently stable to join the monetary union. joining the euro zone, the shang and travel zone will provide a big booth to the countries tourism industry, which account for a 5th of the can i push on with badly hit by the pandemic?

and for more in this, let's bring in t w reporter steven fiercely. in the creation capital diagram, steven, if they to of the euro in croatia. how are people adopting new currency? yeah, hi kate, this is actually the 1st day that businesses are fully open since the holiday and since that day of introduction of the euro yesterday. so we're gonna see a lot more transactions taking place where to see a lot more of the currency entering into circulation. from a very practical standpoint that poses challenges here. the exchange rate is a very precisely fixed, which means that cashiers waitresses have to do a lot of math if someone's paying them and kona you can still pay in corner the old currency for the next $2.00 weeks. but you will get euro's back. that means a lot of fast math had a waitress tell me yesterday that it was just too much actually for her to do in her head. and she started giving back corners because she couldn't figure it out or, or do it fast enough. so there is a bit of excitement also some apprehension here. you know, the euro isn't brand new to croatia through travel through business. they are

familiar with it, but now becomes at every day currency. and one of the apprehensions here is that because of that precise exchange rate, that you will see prices move upwards, they're going to be rounded upwards. and then of course, let's remember that there's a lot of sentimental attachment to the old currency to the kuna. that is the currency of croatian, independent since 1991. so for some people that's gonna be hard to say goodbye to okay, for a little bit of nostalgia that you've actually been speaking to the head of calais, have central bank about the advantages of joining the euro. let's take a listen to what he had to say. within the last years when we heard the serious of crisis have shown that for the countries, lucretia, it's her cheaper, easier to be part of the large currency block, then to be close to the blog, but outside. and then when there was a crisis, you're all this heat more than the ones who are within the current. you know, of course, there are also other benefits we know of. crecia will benefit because it will

become a more attractive or investment destination. we also curious countries, 70 percent of our tourists come from the eurozone. it will be easier for them. and the transaction costs will be simply a lower for steven lots of advantages as being described there, but either any drawbacks. yeah, one of the biggest drawbacks just looking at it as with any member of this currency union, is that you lose individual control over your own currency. and it's not just about sentimental attachment, but that's actually about being able to devalue or strengthen your currency or to meet the economic situation in your country. croatia is, in many ways that is comparable to other currency members, but there's also low wages here. there's lower pensions here, a stronger euro could hit them hard. and if there is an economic downturn here, it means that they just are one of 20 voices in frank from the european central bank. that has to work to decide how to respond with monetary policy. and by far,

they're not the strongest that there, there is believe that there tend to be a bias more towards germany and france. and that, that's going to be a problem here. so an advocate say that there's more pros and fewer cons, but we'll see how it goes. louisville indian. conversely, in fact i have thank you so much. now 2023 is also a big year for india, which has taken over the presidency of the g 20 group of major world economies. it's both a challenge and an opportunity for prime minister in the rental modi who takes on issues including russia's war and ukraine. the continuing effects of the pandemic and growing food and energy insecurity. the last day of the g 20 summit in bali, the presidency goes to india. it's a big job. the g 20 represents 19 major countries as well as the european union. and he is expected to push international debt, economic growth, and food and energy security to the top of the agenda. it also wants to showcase

its own advances and its role in technology worldwide. india alba, phase a dos job of navigating the biggest economies in the midst of a global down done. and at a time of escalating tension between the united states and china. the long term impact of the pandemic and the war in ukraine are also challenges that india has to grapple with in its ear of heading the g 20. there's a theme for this year's presidency, global unity, one earth, one family, one future and even a government created logo. but there are power politics at work as well. india sees itself as representing a particular group of countries. we have the rear opportunity of being in the midst off the global south leaving the g 2 in b for for successive years. and i think that makes it a great opportunity. not only for india, but to the country though, the south within the g 20, who deals with situation,

which is getting extremely difficult. rid the big power rivalry between the, with the u. s. and china. the g 7 and russia live. yeah. you know, stultifying all decision make it look at we have to look at the real problem build the world while not creating new was an ambitious agenda. india has plenty of work ahead as it takes the g twenties. how somewhere in there says dr. d. down the cost fun and charo kite. ok. in delhi cheryl india is taking over the d 20 present the at an incredibly tumultuous time for the global economy. what is feminist? enter, enter multi helping to achieve? well, a kid, it appears that there are twin objectives, sir. behind this presidency, that knowing the mother would be hoping to achieve one would be to further strengthen his position domestically. because her enjo set to go for parliamentary balls next year in 2024. and her if far more the wins it again. he will win

a strict, her dumb, or which will be quite historic or given in the as to most us political landscape. so it was further strengthen his position to mr. kelly's earth, one of the objectives. and the 2nd is to project himself, or as, as a global leader, as someone whom the world listens to. and as someone under whom the world has finally started listening to india, this is the kind of projection that he's been given continuously for the last 8 years and would only try to but trace that during in years you 20 presidency, kate. and speaking of that global image, modi's office fast, the need to deep politicize the global supply of food and medical supplies. how will he be able to achieve that goal? hey jackie, that it's, it's a $1000000.00 question. he has talked about it. in fact, he wrote that in an opera that was published in the russian newspaper. and of course the reference was to doug supply chain of wheat and fertilizer that has been disrupted because of the ukraine war. but deep politicizing it is easier said than

done because, or how easy is it for are open for even the g 20 to change the patterns or supply chains and to prevent or to sort of insulate them from geopolitical crisis that might emerge in the future. that's, that's a big challenge and in any case and guys taking up the presidency in, in a very challenging time, there are multiple crisis that in your will have to negotiate. so it remains to be seen how this deeper the designing will happen. kate. they did mention that this could boost mode a politically, but how else could there present the help in the us national interests? well, a kid in yet has been navigating, you know, a very, a difficult sort of a stand ever since the ukraine war broke out. or we know that the west has been upset with india continuous relationships with russia. now not aligning with the west in the united nations, not calling out russia as an aggressor as the country that invaded ukraine. and at

the same time, india has also been moving to western camps like the quad. ah, but then are ahead of the g. 20 president. cindy has been talking about championing the course of the global south. so there are various competing geopolitical interests. that india his is involved in and balancing them will be something that india would be really wanting to do. but again, it would seem to be very, very challenging. during this presidency. kate, i take, i say, thank you so much. the construction industry is the 3rd largest source of pollution after the energy and transport sectors in germany alone, some $200000000.00 tons of rubble accumulation every year. over half of that is concrete and only a tiny portion of it gets recycled. but as you'll see in our next report, the potential for reusing congress is huge. it won't be long until this concrete trouble starts looking brand new again. every year,

280000000 tons of concrete are made in germany. the whole seemed company specializes in recycling, building materials. first, the concrete pieces are crushed into granules than sorted by size before being re sold to cement makers. good for business and the environment i met off no could processing, can save us millions of kilometers of truck journeys. usually the sand required to make the concrete is extracted from large bits and then transported hundreds of kilometers. it's the same for gravel. the 2nd ingredient, but gravel and sand are becoming scarce. this of the, of what you're looking at here used to be a bridge or fraud, slap or a house. and we're making a new one out of it. all of that material would have gone into landfills or ended up in some backfill and we're able to make high quality building products out of it that are used in new construction. i use the recycled products are then delivered

to the customers such as this concrete manufacturer in their local area. recycled products stand out because only 2 percent of building materials are made this way. but on this site, they are relying on recycled material accounting for 30 percent of production. it's also cheaper at this plant, the material is mixed and shipped to customers. this company makes concrete blocks from recycled sand and rock renewals in the lab. they test new mixtures for their blocks, experimenting with color, shape, and ingredients to increase the recycled content. which ranges from 30 to 40 percent obama. you know, up for this is about up cycling, which means we're deciding for high quality line with been all through this. brick

look, look, is a whole new surface loyal. and this is what it looks like in the end, a new generation of recycled waving. lots of green grass speaking through the areas we're water can drain away. it's what many customers want these days. and this part of the concrete industry is ready to sprout. what a great idea that wraps up our show for more you can always go to g, w dot com slash business were also on the dw music teacher from the team. it's to buy a ticket with

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life. well the winners and losers. globalization, where do we stand? starts january 5th on d, w. ah ah ah ah missus d w. news ly from berlin. a faithful bid farewell to former po benedict, the 1st pontiff to resign in centuries will lions stayed for 3 days. some mourners can pay their respect at the vatican and also coming up another round of overnight airstrikes, damages homes and critical interest.