school to victory today, but they say the fight is not yet over. that's all we have time for t w's business magazine made in germany is up next. and if you want to stay up to date with all the latest news, take a look at our website, tito view dot com and you can check out her social media channels. and all you need is d w news. i'm pablo phone alias and berlin. from the team here, thanks for watching. take care. and i'll see again that the top connector with stories that people will roll over to information. they provide the opinions they want to express d, w on facebook and twitter up to date and in touch. follow us. ah,

ah ah ah, ah biden's billionaire busting budget battle. the u. s. president is proposing a 25 percent tax on billionaires to avoid the u. s. defaulting on its death. republicans are 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 or come

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 joe 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 in exchange for lifting the u. s. government legal borrowing limit. well, a lot to unpack here and i'm packing it for us is young quarter at the us stock exchange of the new york stock exchange. pardon me, yan, what is all in this budget pro proposal?

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 that so there is a lot of money on the table as you already hinted, says so well. earning americans are supposed to actually taken the burden of the tex, them increases them, 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 me. yes. 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 of 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, christie. i mean that's basically what this is all 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 remains to be seen, but they are a couple of parts that to could find some bipartisan support, at least from voters, for example, a limit for pre prescription drug prices, also daycare subsidies them for american families. so they are a 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. that was the quarter in new york. now to some of the other global business stories making news,

the netherlands as currying exports of ultraviolet lithography equipment, which is used to make advanced semiconductor shipment chips to china. following pressure from the u. s. dutch company a s m l is the only maker of these machines. it's feared 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 reported a 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 countries 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 when, as i was gonna let you go, 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 dollars, so i need to get dollars and i'm paying interest. the person who lent me money doesn't accept believe ya knows what. how to say, hey, look me up at a meet. i keep out of that love me up with that. the central bank is trying to turn the chaos into com z thoroughly because you, anela portal. 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 exchange houses. you 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 at the official exchange rate for the latin man. the cook with axe, you seated the pool. as you, i think, both and come 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 argentinean pay so down

torture, get us a suburb of quite us air ice. gustavo, do our j 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 used to live in the capital, but then his rent was said to increase by 65 per cent. 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 by seattle to your vcr 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 follows that boy, should 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 a if on it a local authority. 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 this apply of permanent housing. but he blames this mainly on

a law that has extended the term of rental contracts since 2020 but this new law does not allow, at least 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, voice 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. seniors 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 years 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 are, they don't trust nursing homes. i am actually but things are changing and investors are seeing an opportunity in upmarket nursing homes. well, that's all i've got. if you'd like more check out d w dot com, where else on youtube and facebook. i'm christy plots number. let's see, tomorrow, with 203 or not to own. what about a sharing economy? it's did a change in thinking is changing the

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