he can stay up to date on all the latest news on our website, www dot com. that's all we have time for. stay tuned for business with christy plaza and we'll be back again at the top. the next are until event take care. ah. people in trucks injured when trying to free the city center more and more refugees are being turned away at the border families, planes on attacking syrian to the credit on its way located demonstrate people's lean, extreme drought, ross getting 200 people from the agency around the world, more than 300000000 people are seeking refuge. yes.

why? because no one should have to flee. make up your own mind. d. w. made for mines. ah, ah, lightens billionaire busting budget battle? the u. s. president is proposing a 25 percent tax on billionaires to avoid the u. s. defaulting on its debt. republicans aren't pleased to we will go to wall street. also coming up in argentina and bolivia. people are growing desperate for us dollars. want to know why? stay tuned. welcome back to another d w business. i'm christy plots, and coming to you from berlin, a 25 percent minimum tax on billionaires is a keystone to you as president jo biden's, new federal budget plan,

which summer calling a blueprint for a yet to be confirmed reelection bid. the democratic president visit, visited philadelphia to present the plan, which aims to shrink the nation's deficit by nearly 3 trillion dollars by raising taxes on those earning more than $400000.00 a year. and nearly doubling a capital gains tax of 20 percent. the proposal for higher taxes on the rich comes as republicans demand, federal spending cuts and exchange for lifting the u. s. government legal borrowing limit. well, a lot to unpack here and unpacking it for us is young's quarter at the usaa stock exchange of the new york stock exchange. pardon me? yes. what is all in this budget pro proposal now? well, i mean, no question, chris, the that the president joe biden is planning to increase texas quite a bit actually by 5.5 trillion dollars over the next decade. them at this point,

we really have to be careful and not mixing up trillions. and so there is a lot of money on the table as you're already hinted, says so well, earning americans are supposed to actually taken the burden of the text them increases and then on the other side, what is being done with the money it is going to support the social system here in the united states and by the way, also the military. so the current budget season increase for the pentagon by a good, a 3 percent to $840000000000.00 trillion all the same to be and now republicans have already said they plan to reject the budget. does it stand any chance? well, i mean, as we always know, was those budget proposals such as they keep saying here, it's dead on arrival. so no, it will not pass the republican controlled house at all. democrats

seeing to increase a texas and then on the other side and you have very republicans actually looking to actually lower the text code for americans. so this is just the beginning of big negotiations that are going to start here. but this proposal will never see the day, the light of the day. i mean, this is about more than just this budget, right? i mean if this is really a blueprint for a potential reelection bid for by like summer speculating. what does it tell us about that potential bid? definitely, christy, i mean that's basically what this is also about so that joe biden is showing his potential voters. so what he would be doing in their favor, if that budget proposal really sticks until november 2024. when we do have their presidential elections, we have to be seen. but there are a couple of parts that could find some bipartisan support, at least from voters,

for example, of a limit for pre prescription drug prices. also daycare subsidies them for american families. so they are parts of this budget that actually would go down well on a bipartisan level, but still at the end of the day, this budget will not go through as we've seen it today. it is a pretty bold move from joe biden, and it will be interesting to see the response from republicans and what's going to come in the next couple of weeks and months. thanks for packing that for us. i was the quarter in new york now to some of the other global business stories making news. the netherlands is carrying exports of ultraviolet lithography equipment, which is used to make advanced semiconductor shipment chips to china, the following pressure from the u. s. dutch company a s m l is the only maker of these machines. it's here. they could be used to

produce chips for chinese military equipment or weapons of mass destruction. u. s. crypto ending bank, silver gate is shutting operations. it was one of the major banks for crypto exchanges, like the now defunct f t x. silver gate says all deposits will be fully repaid as the company winds down, the bank has been struggling for months. it report it in nearly $1000000000.00 net loss in the 4th quarter. unusually high demand for the u. s. dollar is causing panic. in bolivia, it's the country's 2nd currency after the bolivian o and an indispensable part of everyday life. but dollar reserves in the country have been dwindling for years, and many bolivians fear the lose access. panic is in the air. in bolivia, everyone wants to get their hands on dollars. but those who make it to their bank may be disappointed. the banks can't always meet the skyrocketing demand learners

that was collected all that i'm looking for dollars here because last week i went to the exchange houses in l alto. but i couldn't find any. they all said there aren't any dollars. i owe dollar, so i need to get dollars and i'm paying interest. the person who lent me money doesn't accept believe yos. what is how to set him up at a meet, i get that of that love me up with all the central bank is trying to turn the chaos into com z thoroughly because you in the loop all as you are, repeat the invitation to those who feel affected and have been unable to satisfy their demand for dollars either in the financial system or in the extreme. charles and samuel should come to the central bank of bolivia, uncles, and rather from this date on the mechanism it had with bengal. noon is ready to satisfy the people's demand that the official exchange rate for the law demand that will actually stated the policy, i think will the gum view of the central banks. dollar holdings have shrunk

dramatically from $15000000000.00 in 2014, to just under $4000000000.00. bolivian ford exchange comes primarily from the sale of commodities, such as lithium and gold, but exports have shrunk, increasing the feeling of uncertainty. while bolivians aren't the only south americans facing dollar related fears, residents of one else areas and other argentinean cities say that unregulated tourists rentals are pushing them out of the housing market. that's as tourist dollars are quickly becoming more preferred among landlords as an inflation rate close to 100 percent. pushes the value of the argentinian pay so down torture. get us a suburb of quite us. aris, gustavo duarte had to move here and into a home without running water or sewage. it's almost 2 hours by bus and train to the argentine capital, gustavo,

and what he looked for. other options he found many apartments in the city were being offered only to tourists on platforms like air b and b. booking, mercado libra or zona prop in apple at the forum on most of these recognize such platforms that types of search, for example, either permanent or temporary rentals. and if you set the filter for permanent apartments, those are not available yet. but if you look for temporary rentals, options appear here, but i see an alternate jervey. cl munoz is the president of the argentine tenants association. he shows a map of the 20000 apartments in buenos aires that are offered on air b. a. b munoz is calling for the regulation of tourists rentals, just like in other cities around the world such as paris force alona, berlin or new york. it follow sequoia show i like this type of business should only be able to operate in a very touristy areas where there must also be

a percentage of tourists rentals. also, the number of nights for a tourist rental must be limited to electric sip with if on a local or group. alejandro is a retired chemical engineer who inherited his mother's apartment 10 years ago. he had been renting it out to tourists for 8 years. so he government, in my family, we've had experiences in the past with apartments that we rented out. the tenants never paid the rent. so those people lived there for free for 2 or 3 years. the president of the argentine real estate chamber admits that taurus rentals are reducing the supply of permanent housing. but he blames this mainly on a law that has extended the term of rental contract since 2020 but this new law does not allow a lease to be signed for less than 3 years. and the rent increase will not take place until at least one year. but then inflation has already eaten up that rent

increase. we have an annual inflation rate of almost 100 percent. while gustavo has to get used to his new home, the government of what else areas has not yet outlined. next steps to combat the larger problem. air b and b only answered that quote. they will continue to work with authorities and other stakeholders to find solutions. one of the most pressing issues for china's economy is it's rapidly aging population. more than one in 5 people are over 60 and it's raising serious concerns about the long term ability to support the elderly within these changing demographics. however, some investors see an opportunity they are old and well off and live in a newly built apartment complex for seniors on the outskirts of shanghai, membership cost, a $150000.00, plus a monthly charge of $650.00. and australian investor believes a marketable luxury time in homes, lies in china, voyer shouting, tom,

go, those are the young houses. ha, my man, am i the financial situation of those who retire in 5 to 10 years will be better than today. and the mindset is changing. senior is no longer see themselves as their childrens household assistance, or grand kids, nanny's, they want to live independently with his mindset and an aging society. the market for a time and homes will be bigger and bigger. wow. now your losses hockey will be in a yelling at china is aging. normally, children take care of their elderly parents. 90 percent of retirees live at home, only 3 percent, live in retirement facilities. the idea of spending the final year is outside the family is foreign to many yahtzee abilene, i would not go to a nursing home as a matter of principle. and even if my children wouldn't allow it, they've said it, they don't trust nursing homes. are molecular but things are changing and

investors are seeing an opportunity in up market nursing homes. oh, that's all i've got. if you'd like more check out d w dot com. we're also on youtube and facebook and christie pods number. let's see tomorrow. enter the conflict zone with sarah kelly. as worse as war of aggression against ukraine raises on the battlefield. it is also using information campaigns to promote both narrative in a conflict. so special i community security conference i at the high level panel help him win in the battle against the information a on d w. how much does kofi hon, the environment. and these pioneers know that quite well. and that's why they're

taking a different approach. they cultivate old farming, taking revive forgotten plant species and discover new potential world wide in defiance of b corporation is good coffee in 60 minutes on w o a currently more people than ever on the move we'll divide in such a better life. one of us and so it's as a committee god, the hard key goes out. actually does the now is it america? they have not gotten known to god lag leo for condense, duplicate of dinardo. ah donation one back citizen.

find out about robina story in for my friends, reliable news for migraines, wherever they may be. as much as war of aggression against ukraine bridges on the battlefield. it is also using just information campaigns to promote false narrative in a conflict so special at the munich security conference i spoke with the czech republic, foreign minister, nato's assistant secretary general, google's president of global affairs, and day south african dis, information specialists.