facing rigorous global demand, we'll look at what virginia say post on our show office sharing giant, we work ones that hired turnover and dwindling cash reserves are putting its various or by 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. the pressure is now growing for badging to release more stimulus, to jumpstart the chinese economy. let's go to our correspond that huge and lee in type a, a huge in 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 cell 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 timeouts, because nomics grows. because this, when business is revenue is decreasing, they was probably with the results 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 lot of nearly a decade. so, and some experts say that china deflation will only last 6 to 12 months. so that is

kind of 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 or they came out yesterday and now in port numbers, of course we're also very weak that matches up what is consumer this fall and consumer demand that we see today. paging 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 assure 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, mature to bows, consumption, and even like in the real estate industry, a local governments across different cities has impose on, you know, tax free phase 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 the document excess. so it's like a lot of, you know, consumer goods, as you mentioned, especially in light, clothing and food in the industry. so has being hit hard so we still have to wait and see like what the trend is kaufman would do. you know, for the next step 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, you know, disappointed figures represent like, like china. i can think of them as the recovery is still pretty sluggish. so it's kind of the 1st trade, 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 making the right the trade war,

of course critical to 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 its 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, serious as a start up, the company was once valued at almost 50000000000 dollars right over to you in court to in new york. yes. 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 a desk sent them at a met and human their 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 needs to find to another and the source for his of the fortune. and it, what does happen in the past couple of months? so to speak was also higher interest rates. so meaning is 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 far we work and the company 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. and 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. it just yesterday we had the writing 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. and so it, yes, uh the whole office is space. um, it's 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. or let's go now to some of the other global business stories making headlines. the world bank will make new loans to you. gone will make no new loans rather to you gone to do to the countries new n t l g b t, q lol. the multi lateral lender, which is in talks with you guns and officials says the legislation goes against his 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 text on banks. it says, well, capital levy to 110 to 4 percent of the lenders, assets. so as to limit the impact of the shift comes after time, banks lost nearly $10000000000.00 and market value on tuesday following announcement of the tax proposal. well, muscles are

a favorite dish across the mediterranean, where they're typically farmed with long ropes suspended from ass. those ropes in turn made are plastic. now there's an alternative for those fishermen willing to give it a try. here's a look at one of them in the southern city of terrence. so whatever the weather seats you mounted on showing a goes out to mock people 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 falls at all, you've only comes with the plastic or the vegetation on the water doesn't get enough oxygen. the suffocating, gosh, like it's one of the environments worst disaster. cool with 5 decades of shellfish farming, with plastic of turned mach vehicle into a garbage dump and fits your model. i'm showing

a wants to change that. that's why he's part of an experiment that uses next made from biodegradable plastic made up by which is made from corn of my that'd be a most selfish girl. was a skeptical about the new material. you have to be a very good grower to work with made or by nets, the more intricate to use than regular plastic. that's good uh from for the people that's thrown in that i've lost because the muscles have nothing to hold onto one of them. that's the great fast dental. don't have any supplements either of 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. things where subject oceans are the habits at most threatened by plastic. that's why scientists have developed nets from bio plastics and fits your mountain and showing as tests is helping improve them. the not through the it was i

am using them to protect the environment and feed my family if i mean to. it's up to us to find new ways to make our shell fish more valuable media already been funded. if those new nets help make to run to muscles that will something very special that'd be, i'm or not a that can be seen when follow to the thought on the moon job. what visit tale and shellfish grower is doing is just the beginning. and it shows that natural materials and file plastics can really become alternatives the and that's our show for more about these and other stories. you can check us out on lovely invalid. thanks watching the

team and we take

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. the business the, the news lot from ballot. parts of europe are battling and extreme where the spain and portugal 5 wildfire as a southern europe fakes in a heat wave. meanwhile, you chief goals of a funder line visit slovenia.