the war also coming up once label to charity cities. an investor is building a private community on an island in honduras, which critics say is a threat to democracy will take you there. i'm chris cover. welcome to the program . asians economies are reopening with impressive dynamism that is, according to the asian development banks. assessment, published earlier on tuesday, private consumption, investment and services including tourism are reviving. now that the pandemic has largely passed china as reopening after last year's lock downs is brightening the outlet for both the region and the global economy. regional growth is expected at 4.8 percent this year and next with south asia expect to go faster than other regions. growth and east asia and southeast asia is benefiting from increased domestic demand and growth in the pacific from returning taurus. inflation is gradually coming down to pre pet damage levels. the be forecasting the rate for

developing asia at 3.3 percent in 2024. now, earlier i spoke to albert park, the asian development banks, chief economist, and i asked him why the region is economically out growing other parts of the world . well, i think asia is putting the pandemic behind it and returning to normal rates of growth, which are even higher than what we're projecting which is 4.8 percent growth both this year and next year. a lot of that is driven by the recovery in china as china is moved away from it's 0 code policy. our projection is that china will grow at 5 percent this year and 4.5 percent next year. in addition, india, which is the 2nd largest economy in the region, we expect to grow robustly at 6.4 percent this year, and 6.7 percent next year on the back of very healthy consumption demand and

rising investments. let's talk about china here for a 2nd. you said china is out of the pandemic. busy has abandoned 0 covert policy is everything back to normal in china? well, if you look at indicators of mobility within the country, like subway ridership, you see it really almost really, really back to normal, just as high as it was before the pandemic. at the same time, there are certain aspects that are sluggish to recovery. so unemployment rates are still a little bit higher on the high side. and incomes have not fully recovered to their pre panoramic levels unless we're definitely seeing a big increase in demand in some sectors, especially services sector, contact related services, like hospitality, transport, hotels, etc. now compared to other countries in the world, inflation in developing asian economies seems to be rather low. why is that?

well, there's a few reasons. one is china itself, because a china's inflation, we're projecting just about 2 percent and it's been low throughout the pandemic period. it's been very well anchored, the expectations there and china because it's a large economy, has not been as subject to a kind of vulnerability from the need to import a high price, oil and, and food. the 2nd reason that asia inflation has been lower than other parts of the world is that the food prices have been a big part of the inflation challenge. in many areas in asia, rice is the staple, and rice prices really have not risen. like, like wheat and corn, let's say right. a 3rd reason is that a number of the governments in the region have tried to protect consumers by subsidizing prices of energy and food. and the last reason is that many,

most of the countries in regions did not have big stimulus packages, like in the u. s. and in europe, which really fuel inflation is kind of from the demand side, that's been a much more gradually recover, gradual recovery process in asia. now along with china, you mentioned india as one of the main drivers of growth in the region. where is the demand for products made in debt for services in india coming from well, india is growing robustly this year and it's not really from exports because . 3 of the slow growth in the u. s. and in europe, both regions, we're projecting to grow less than one percent. this year. exports are not really driving the growth in india. so it's more coming from domestic demand recovery from the panoramic also renewed activity on demand for services. investment coming in,

some of the efforts of the government to support development of manufacturing sector with incentive programs with infrastructure investment, etc. that those are the more important drivers of higher growth in india. now, major are producing countries announced a cut and output to take effect and may send a crew price is higher. the start of the week. how much of a risk does that pose to economies in the asia pacific region? yeah, that's very worrisome, i think because we know that the big spikes in commodity price is energy and food caused by the russian invasion of ukraine. last year has been a real challenge for economies in the region. so if opec is cutting and if china is recovering and increasing its demand, there are some current concern that prices for oil will go above what we've been projecting initially, which is $88.00 a barrel this year. and $90.00

a barrel next year. higher oil prices obviously creates inflationary pressure in the region and it increased cost of production. and also it hurts consumers who rely on energy for a larger share of their consumption. alba park, the asian development banks, chief economist, i will thank you. thank you very much. is to one doors now, and the central american country has one of the highest crime rates in the world. something that the makers of prosperity want to shield residents from. apparently, along with paying taxes and politicians calling the shots prosper are located on the island of ra tan as a private city. one that not only threatens land rights of locals, chronic se, but democracy itself honduras wrought an island. isn't it dylan, paradise and home to a dream, a private city named post spera prosperity developer. eric pizzey, collis says,

the rules will be different here. his firm is permitted to build 14 story buildings . normally only 8 levels are allowed in the rest of the country. but on of a performance that on greenhouse 100 businessman prospero brings many opportunities to create jobs as a safe place where we can live and developer would or around avoid crested butte either federal. yes, it a safe place far away from the poverty in corruption, otherwise white spread in honduras, the flying the state flag. well, building an almost autonomous institution. it's a utopia driven by investors dreams. there will be low taxes, no politicians, a council of entrepreneurs writing the rules. critics fear for democracy. the prospero lawyer on the other hand, raves about the perfect city, is to see us in the lute, us sort of the kick. agree, it's still hm. doris analysis, but we have permission from the government to manage the territory legally. barella

says we have the freedom to establish rules that are advantageous to learn, but actually they are a will lashawn guest immediately. the question is for whom the enter printer stream is fernando garcia's nightmare. his sifting through a thousands of pages of legal texts in his office in the capital to google hipaa. he is supposed to stop us para, on behalf of the new government and 2013. he says, corrupt politicians pay for the way for the private city. it's unconstitutional, says garcia, we'll get significant lakresha and doing this means the creation of a state within a state robot. they want total autonomy, their own jurisdiction, their own executive, their own education and health system. in the police system for urban development in this rule, but the head of pa spera is eric grime and an american venezuelan. he says he's not radical, a liberal and insists he is not building a tax haven. our mission is to create prosperity where it is needed most is not

about making switzerland richer or germany richer. so the spillover effects are not limited by, by, by the process presented jurisdiction. it is spilled over into the wrestling economy. but in the village next door, fear is running rampant. the people of crawfish rock lip off fishing and they were afraid of being displaced. all kinds said by you when i get a city la expert, they're going to grow like a cancer. i'm afraid of being dispossessed. we are the neighboring community. we will be the 1st to lose what little we half look opinion. connor says the project is smarter colonialism, but eric grime and says he intends to push through his project at all costs. and if necessary, even taking it to court, then ended mirror a one after a breed of famous fighting bulls are talking about a rocket, which

a spanish start up develop. it is not only to put the country on the space map soon, but also europe's 1st reusable supp orbital rocket. my final preparations are underway for the take off of the mood. i one, a small sub orbital micro launcher with large aspirations. the 12.5 meter long rock, it is designed to lift payloads up to 100 kilograms, typically satellites used in telecommunications, security, and earth observation. if current tests continue to go, well, it will launch in a few weeks and make history as a 1st private, reusable rocket manufactured in europe. some of the micro long, tre, it segments. it's something that in the last year, how do we need the most of the payload that has been launched? it almost 85 percent of the satellites were under $500.00

milligrams. we could fix our main target for or the beach that we are planning. start up p l d space hopes to make span the 10th country in the world with the ability to launch into space for commercial purposes. it also aims to capture a growing small satellites market, particularly in europe. if all goes according to plan, the mute one will be able to reach specific orbits or larger and public operators don't always go. there are some other european companies trying to develop or to at this capacity, which we think is very welcome to open up to a strength and the competing t t o european, a european satellite operator, a successful lift off from utah, one will pave the way for me you to 5 a larger orbital rocket capable of carrying 5 times with the mute one can spain as reaching for the stars. the mute as will be the rockets to help it get there and

back again. that social thanks for watching have a successful day. ah, ah, with

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