miss racing habits in europe. lazy, alpine nation of slovenia, cleaning up off the flooding. the plains of these 6 lives. meanwhile, spain and portugal, a bad thing, wildfires, southern europe is making on the way that's it from me and the new steam for now. don't go away. a business is off next with my colleagues, stephen bid bids, they tell you more about why china is dipping into deflation and gab office front of me on the team. the pricing strategy issues with a lot say, what crazy. the

imagine so many portions of loans us turn out in the world, climate change. the story faces much less the way from just one week. how much was getting ready to get the we still have time to act. i'm going to like this, the the china falls into deflation in july as consumer and business demand drops. it's the latest blow for the world's 2nd largest economy, which is also facing weaker global demand. we'll look at what virginia say post on our show office here in china and we work ones that hired turn over. and when

doing cash reserves are putting its very survival at risk and will visibility for a look at a new, more sustainable way to farm muscles for those fishermen willing to give it a try. hello, and welcome to our show. obviously there's an invalid, it's great to have you with us. china dipped into deflation in july consumer and producer prices both following for the month of that's due to weakening demand from consumers and businesses following the easing of pandemic restrictions. in particular, a prolonged property market slump has had many consumers in the pocket book. lower demand for chinese export isn't helping. meanwhile, with data released tuesday showing a considerable slum for july. and the pressure is now growing for badging to release more stimulus. to jumpstart the chinese economy. let's go to school. our correspondent, huge and lee in taipei, uh, uterine china, becoming the 1st g 20 country to see consumer demand fall in a month since japan in 2020. what does this tell us about what's happening in this

economy right now? so 1st of all, we have to understand that the consumer price is an important decatur of inflation rate. so the july figure in a china fill and become negative for the 1st time in more than 2 years, is this fact in the case that a china is sliding into the ration. as many experts said that this means that consumers in china still pay for saving to spending. so business have to, you know, cut prices to sell their products. but this creates a visual circle. dagwoods deter, telling us because all makes growth. because this, when business is revenue is decreasing, they would probably with the base thoughts too late of workers to reduce your costs . and, but let, the good news is like some experts say that china will not probably, you know, follow the path of japan, which has seen like

a more severe deflation that lots of nearly a decade. so and some experts say that china simulation will only last 6 to 12 months. so that is kind of good news. and amid this, you know, economics downtown, at the same time, this news, this drop and consumer demand, this comes on top of some other weak indicators, especially when you look at over all or overseas demand, i should say for chinese goods, those numbers down, we saw the export numbers were very weak. are they came out yesterday and now in port numbers, of course we're also very weak that matches up with this consumer, this fall and consumer demand that we see today. bridging can't do much about those that weaker overseas demand, but what can it do about domestic demand? is there any way that it can help prop that up? it's well actually it's really hard to tell at this point because like many reports said that some local economics are either not allowed to, you know, public and share that there is a deflation in china. but we can see that

a lot over the past few months, china has been working hard on boost consumption by imposing some stimulus funds, for example, last month of aging issue 20 measure to boast, consumption. and even like in the real estate industry, a local governments across different cities has in post on, you know, tax rebates and cash subs subsidies to encourage home purchases. but so far like the effect has not been you know, as you know, effective as we like to document excess. so it's like a lot of, you know, kind of summer goes as you mentioned, especially in like closing and food in the industry. so has been hit hard so we still have to wait and see like what the chinese government would do, you know, for the next step of the gene was expected to really war out of the pen demik coming out of those terrible restrictions were we expecting to see a lot more of a,

a resilient economy and we're not, what does this mean for the rest of the world, which we, as we know is highly dependent upon trade with china. it's well because these um, you know, um, disappointed figures represent like a like china cuz normally the recovery is still pretty sluggish. so it's kind of a 1st rate, the confidence of the stock market around the world. and as you also mentioned like yesterday, they also have really bad trade seekers in july, the exports figures sale over sold by over 14 percent year on year. so we kind of shows that china is not only facing a domestic slowdown. so also like a weakness in global demand, because like the west is also like socially monitoring, watch, china can offer and also because there were between us and china. so like the see man for imports from china is also meeting right. the trade war,

of course critical, what we're seeing there also the weakening property sector you gently inside pay. thank you very much. co working space provider. we work says that there is substantial doubt about its ability to stay in business over the next year because of its financial losses and it's need for cash in a filing to the securities and exchange commission, the companies that have posted a net loss of nearly $700000000.00. in the 1st 6 months of this year, after recording a whopping $10000000000.00 and net losses over the previous 3 years. since since founding in 2010, we work has witnessed a rise and fall so dramatically that has become the subject of a fictional many series. as a start up, the company was once valued at almost $50000000000.00 right over to use quarter in new york. again,

why is this situation for we work so it's so serious right now, what's going on for your? well, i mean, this is not the southern adapt send adam and human there co founder and former c o . off we work once one and 2, it'd become the 1st trillion there on the planet well to achieve that goal. and he would need to find to another the source of for his, of the fortune. and it what, what did happen in the past couple of months, so to speak was also and higher interest rates. so meaning, it's also more difficult to find to potential investors. so, and then we work has been a risky business from the get go. they're using a property long term, and then they're renting a short term. and if you can't rent your space, then you lose money. so that is one of the big problems. so for we work into

a company, it did mention that their clients are actually leaving. and roles, is this a bigger problem that we're seeing right now with commercial real estate in general, or is this specific to we work? well is, this is definitely a broader problem that we're seeing. i'm here in the united states and other parts of the world as well and higher interest rates once again is a factor, but also, unless people are coming back to work, the whole hybrid to work from home. the thing is it's still pretty big here in the united states, so we work actually had hoped them to profit from the trend, but it did not. but to answer your question, yes, this is a broader problem just yesterday we had the rating agency, moody's downgrading 10 banks here in the united states. and one of the reasons for that also was the problem. and it was a real estate. um,

so it yes uh the whole office is space um its a huge problem here in the united states and that's also a problem for other companies. and for banks, as i mentioned, ryans court in new york. thank you. let's go down to some of the other global business stories making headlines. the world bank will make new loans to you. god will make no new loans rather to you gone to do to the countries new n t l g b t q long. the multi lateral lender, which is in talks with you guns and officials, says the legislation goes against its values. the law prescribes the death penalty for some same sex relations. and some lawmakers in you going to have suggested they will resist any ford pressure to change the legislation. i was a big to me the time government has walked back. part of it, surprise one time when full tax on banks. it says, well, capital levy to 110th of a percent of a lenders, assets, so as to limit the impact of the shift comes after. tell you bank loss,

nearly $10000000000.00 and market value on tuesday. following announcement of the tax proposal, disney has created a task force to study how artificial intelligence can be applied across the entertainment conglomerates, empire. and this comes as hollywood writers and actors strike in parts and limit the industries exploitation of the technology. and the group is looking to develop a i applications in house, as well as form partnerships with startups that's according to is reports as well. muscles are a favorite dish across the mediterranean where they're typically farmed with long ropes suspended from ras. those ropes in turn, made out of plastic. now there's an alternative for those fishermen willing to give it a try. here's a look at one of the in the southern city of terrence. so whatever the weather fits your mom i'm showing a goes out to mock peak low just like his father and grandfather used to. he feels at home in this lagoon,

for centuries. muscles have been farmed here in cellar waters, initially with him or caught in nets. and then plastics, since the end of the 19 sixty's, you know, as you put the phone that all you've only comes with the plastic or the vegetation on the water doesn't get enough oxygen. the suffocating, just like it's one of the environments worst disaster. cool with 5 decades of shellfish farming with plastic. i've turned mock people into a garbage dump and fits your mind on showing a wants to change that. that's why he's part of an experiment that uses nets made from biodegradable plastic maita by which is made from corn the that'd be a most shellfish girl was a skeptical about the new material. you have to be a very good crawler to work with made or by nets, the more intricate to use than regular plastic. that's good. uh, probably pretty level that's the only that i've lost the file plastics of biodegradable and that's

a problem for shellfish farming because the muscles have nothing to hold onto within. that's the great fast gentlemen helped me to see the these nets had only held for 6 months. instead of the usual 18. i would have lost my entire harvest. it was a huge risk to do a couple of feet in west village it. the oceans are the habits most threatened by plastic. that's why scientists have developed nets from bio plastics and fits your mountains, shown as tests is helping improve them. okay, hold on to the last i am using them to protect the environment and feed my family. if i mean it is up to us to find new ways to make our shell fish more valuable media or even if i find that it most new nets help make to run to muscles that will something very special html or not a that can be seen when follow to the thought on the, on the, on the what visit tag and shellfish grower is doing is just the beginning. and it

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