which is the day submitted to mistakes that led to the images that was test charges with drugs in february of to prosecute assigned to the book full of witnesses for trial. that's all finality of your business. of course clover is up next. i'll see you at the top, the next i went by the this year to san diego and rust eats away everything. i'm never mind, you know, make another side algeria is here, mauritania is here on mark track. we know is this one great journey

and the grim reality. i've never been to hell, but that's what it must feel like. this. a heroism fail. i swear. what remains to this, i just want to be 3, the, the house on the edge of this a heart of the last shelter start september, 2nd on dw, the china cuts. another key interest rate to trying to revive is ailing property market and its fall for an economy will have expert announced also coming up after using a chinese loan to build a highway. the small european country of montenegro now has to deal with more than just credit installed and hosting a meeting of the bricks. nations, south africa spacing, a delicate policy act between its trade relationship with china,

and political ties with chris kolber. welcome to the program. china has cut one of its key lending rates in an effort to spur the recovery of the world's 2nd largest economy. china's economy is still growing, but at a slower rate then was previously expected. that's due to worsening. their worsening properties lump a weak consumer spending and tumbling credit for the country. central bank has now cut one rate while leaving some others on touch. surprising at experts read expected further routine measures george magnus and associate at the china center at oxford university. a welcome to the w. what impact is this interest rate current going to have as well? i don't think it's really going to have very much affect the tool really. i mean be the one year rate which was reduced by 15 basis points. it's really sort of a,

an interest story, but really interested is the, the rates of which companies bar of the 5 year, right, which trade left on change would be a rates that affects mortgage. right? so that's $1.00 possibly cuts the additional household demand for mortgage. it isn't for profit shape potentially, but they decided not to touch that drum drum, that'd be the reason that's being given really what that's being floating around is that the of the people's bank of china was trying to balance. you know, some measures to effect we have to positively affect the economy with also not wanting to purchase the margins of the banking system, which would be shrinking. in other words, bank property policy has been declining and they didn't want to caught mortgages just straight. so you can further, but i mean, this is really a band aid solution. this is not really going to solve the problem or the problems

in china's real estate market. so but, but, but the, the idea to try and trying it on it on a monetary way, is that the right way to do it to well, i don't think the problem in the real estate market is because interest rates are too high and people can't afford to borrow, i mean, there are other reasons that people, customer or clients and citizens don't really want to borrow money to buy houses at the moment. so, i mean, the interest rate reduction will help um, uh, lee goods, financial situation in some of the big developers like country jobs and some of the other companies that are in trouble. but again, i just want to stress that i think that this is not something, but monetary policy is likely to do anything a general to correct. but then there may be some measures coming on the budgetary side, on the fiscal side, which will help, but we'll have to see what happens. where is the china heading, co,

china. i'd be heading for a liquidity trap here when consumers and investors are holding cash rather than spending as well. yes. kind of, i'm just kind of what's going on. i mean, um, in a way, um, companies have not really private companies. that is, i've not really been hiring a lot of people, not spending a lot of money on the investment. mean the numbers for private investments have been distorted, little back to influenced by what's been going on in real estate, which is, is really bad. and sort of outside of real estate, private companies are still investing a bit, but the numbers are pretty weak households and not really borrowing this be quite a lot of anecdotal stories about households paying off the move, which is not taking out new mortgages. so confidence is really shots. nobody really wants to kind of step redneck. you over the parapet?

i think this is the dangerous, i mean, yes, the people just hold cash. sit on cash, don't want to spend, don't want to borrow. this is a situation where a lot of developed countries have seen, you know, like 10 years ago over lemons and so on, so forth. so, um, well we have to watch the story catholic, church, magnus from oxford university. thank you for your thoughts. among the numerous countries which have received loans from china and recent years is montenegro. the small country in the south east of europe use the cash to have a highway built and is now facing more than just credit install. it's 41 kilometers in 30 minutes. after 7 years of construction and it 1000000000 the euro spend this road to the mountains of montenegro is ready to be used. it was built by

a chinese company with workers floating in from china. and it was financed with a loan also from china, close to the highway as great just great from collection to put the leads for good . collection is a popular destination for hiker since summer for sky tours in winter. ever since the road has been completed. tourism is booming, revenue is up 3 fold, cut out in us little ice cream shack. we are connected with other sounds, we have many stories. now. we come here in the shores of time and i think is good. motorists have to pay a total of $3.00 euros and $0.50 to use the new highway. but it's hard to imagine that the $1000000000.00 investment will be recoup that way. that tasha collection, which works for a non governmental organization and has been criticizing the project for a while. as she says,

the 41 kilometer stretch is an immense burden on the country's budget. we have income from the highway, which is a $9000000.00 of euro's annually, and we have a loan rate which is for the half of the year. and it's about 14000000 euro. so it's obvious that we can cover the loan with what we have. and it's we have to put this remaining money from the budget. another problem, the highway leads to the top i river valley. the river is the unesco world heritage side. it's known for its crystal clear water and green banks. except the highway has destroyed all life in the lower parts of the river. there are no more plants here. the banks have been washed out entirely. tons of excavation material have been deposited here. what's left on the once beautiful environment? rock central left over construction, steel. all the trash as truant, the water, muddy. basically this is gray motors coming from different excavations,

but also coming from this dump sides which had this flushing of segments. and this is actually went through the spring, the bed, but also by diversity. just, you know, with the covering it over a month to nicholas capital, city of put go heat. so no one seems to be in charge. no one's answering questions . and then the 41 kilometer highway comes to a southern end. china has offered to extend another loan to keep building, but the government found that too risky. they know if they only missed one payment aging has the right to confiscate state property. leaders of the so called bricks, nations, brazil, russia, india, and china are gathering in south africa. this week the meeting could see an expansion of the block and move favored by china and russia, and their attempt to give the group a bigger global clout. meanwhile, whole south africa needs to manage a delicate balancing act,

maintaining its trade relationship with china. without alienating europe and the united states, the 15th annual bricks meeting will not have rushes vladimir putin in attendance photographer seed. lucy su casa regret, said he will not get him in front of his lens. he would have welcomed him with open arms, looking at the great media and as opposed to his decision of not coming to the bridge . so let me take that up because i think is best for me to also support which is a great, a lot of. so the, in africa as a whole. well, putting may be popular to some the russia connection rooted in the governing african national congress has historical relationship with the ussr during the struggle against apartheid is causing some serious diplomatic headaches. russian trade is now seen as being prioritized over other bigger partners.

we large team explore to russian manganese and that's about a $150000000.00 us dollars worth of trade. and we import from the mostly central hole in wheat. but on balance we seem to be trading with this will be equal in loss . but on, in terms of the size of the overall trade costs, good, russia contributes a bunch, 0.2544, overall, uh, export boss, good. africa's most developed economy relies heavily on the us and china. it's 2 biggest trading partners, and they're ongoing support for russia threaten south africa's post cove at economic recovery. the balancing act for solve that for got the moment is to maintain and defend is trades relationship with china as the 2nd largest trading partner, the 2nd largest global economy at the same time, not alienate america and europeans who have been our historic trading

partners over what is now the russian practice. the small and medium sized south african businesses rely on free and open trade. one of them is solar supplier i g e n. so in the next 15 coming from china, anything that could threaten trade has many here worried are, these are all the way switching. we look at the assemblies, i'm it please. and because we do not have this on this got and see if this is dr. frontage to live with china in terms of the basic sales that the inputs edited. lucas with this allows us to create more jobs to grow our skills and to improve i couldn't in the country marred by any quality, growth and job creation are a priority on everyone's mind. as the brick stomach kicks off in johannesburg. and finally, as tensions grow across the strait of taiwan, the latest sign of food diplomacy, china is suspended. the import of taiwanese mangles,

trying to says they found really bug pests and the food cell phones. taiwan believes it was because of worsening political ties. following the re send us stop overs by typing these vice president volume lights, the band follow similar orders by raising over the past 2 years against imports of ty, when is pineapple pineapples lack samples, citrus fruits and some c. and he has a reminder of our business top story at this hour. china has cut one of his key lending rates and then efforts for the recovery of the world's 2nd largest economy . that's on the back of a slow down. during the worsening property slumped re consumer spending and tumbling credit that's our show for more check out our website at www dot. com slash business. i'm chris cockburn, berlin for me and the entire team. thanks for watching. how very successful the

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