company back on sale, but investors aren't interested. ton is ever ground sort stock value dropped 80 percent as it came back from a 17 month trading suspension on monday. once trying his largest real estate firm out of ground defaulted in 2020. want to add a satellite with more than $300000000.00 in liabilities, is to become a symbol of the chinese property crisis that many fed could spill over globally. on sunday, the company reported a $4500000000.00 loss for the 1st 6 months of 20. 23. 0, that's actually only half the loss. it made a year. right. yeah. but let's discuss the situation with our grandfather with gary young, who is a senior economist at texas. he's joining us from hong kong. thanks a lot for being with us. has the extensive this dropping a guns shap price come as a surprise? well, i think if you look at what the share price changes, if a grant is actually in nothing through new because it's pretty much the same last for

if you look at other developers that may have not caught to the so strange thing like if it grand so therefore, i think it pretty much still shows the well, in general, the real estate sentiment in china is do not a great. and therefore, i mean for investors who may have helped this company for like close to one and a half years. they probably looking for a way out. so this is why they are selling that start at this price. um, you know, uh today. so i have a grand holidays losses in the 1st half of the year and it does say that is moving in a direction. is there any evidence that investors are buying that? and they believe that you to progress is being made that type of grant as well. and do i think if you look at the whole approach from the african industry using of course, fixed income investors in those investing equity may have a like a different view for the fixed income side is really about how quickly actually the from can actually restructure itself. and i mean in the, or like, a few weeks ago,

we see that a bankruptcy falling off as, according to us. but this is not something that is very game changing in terms of, you know, finding the ultimate resolution in terms of, you know, where the firm is heading to and whether they can get back to the money that they invested in. so therefore, i think the trend or sentiment for fixed income investor, which is generally the most sense as to risk, is still quite that for some mistakes. how much are for equity? investor really depends on whether you frank, uh, like the real estate market in trying that has such an important. oh, but if we look at the gen the roofs uh, like basically performance in the home market on, on. i think the most important point is really about where the home buyers are willing to buy a house. this right now, which basically means is where the developers can, i should get the cash rules right now. if we look at the biggest largest for 2 cities, it's still only 50 percent of the like pre record rate 3,

a change left for the x rays of 2019 to 2021. so it basically means that, well as the end, the 3rd big growth potential may be is still quite a sector regulations. but i think everyone is waiting for you to turn in the general regularly trade problem and which it has and really come yet. or if it does, it probably will component very slowly. so you, you mentioned, you know, this question about whether or not the real estate sex or in china has blossomed out or what is the sentiments in terms of whether or not it has you know, reached the west point is getting to reach is, is it getting better or is it still a major consent as well? i think the development that we see recently, especially those related to f country gotten in the feel or the, the product for us is that this, the, actually, the company is that would have performed quite well under directly related to re, uh, criteria which is the so called free red line,

and i think this year even this company is a basically they cannot survive, which basically shows that there is indeed something structurally wrong with in the, um, uh, the system that we see uh nowadays. so therefore, i think this time, the wrong to pressure is actually different, tougher than what we saw in the case of epic rank before. but the good news is that at this we start to see more a policy is being rolling out there, talks about lowering for the rates, not only for new mortgages, but also for existing mortgage. they're also kind of a strong to push to deflect trinity to developers. but i think the ultimate question is, do even if we say this measure as being roll out, that has sent them and really improved. i think from the data site, we have been reducing that ferry, of like a big improvement in sentiment, especially from the consumer diet and from the texas and hong kong. joining us that . now let's take a look at some of the other level business stories that us on china. i have

formerly pledged to seek solutions on trade on investment issues and to advance us commercial interests in china. the agreement was made while the us secretary of congress. i've had chinese council meeting paging this week, however, us says me talk relates as to advanced semi conductor access and no safe into discussion. a technical problem is hit at traffic control systems across the u. k. thousands of passengers without to expect delays to that slice. as the number of chinese was restricted. pritchens national at traffic services didn't say lots of quotes. the issue. and ford has one appraisal to bring its driverless technology blue, cruise to german rotors, following a 175000000 tests, kilometers in the us. and canada authorities will now allow drivers to use or say pilot in certain situations still have to be in the driver's seat and have to be attentive to the traffic that among the guy or the crypt. take our, as

a wells claim, launched with a promise to give every person on the planet, access to the global economy. the names of people who signed up to have the irises scanned and be welcomed into the will coined community. however, that currencies value has been moving and i only one direction downward from washington. janelle, dom alone has more. thanks rob, to say, world klein isn't a business project, is just a bit of an understatement. to quote from it stated mission, it's to create a globally inclusive identity and financial network owned by the majority of humanity. the ideas of this, if you can prove you are human and real, you can stand up and be counted when it's time to allocate financial resources. like say, in the universal basic income effort, years down the line. but it's only been a little over a month, and the excitement is already giving way to skepticism and an even more enthusiasm

dampening regulatory crack down around the world. take a look, a grand vision, beginning with an orb who sees you for who you are. when the hardware works anyway for trying another one you are bothering me earlier. good life, all of a now you're now it's up and running your own girls going refresher. first one shows the app, then the or there's an iris scan to verify humanity. i guess i've passed human class and you know, i get a world id that would let me log onto apps and websites anonymously. in exchange for the iris scans, users receive crypto tokens worth around 40 west dollars to give away unless you're in the west where crypto tokens aren't handed out to, to quote, regulatory uncertainty that actually so i guess i'm leaving with nothing today. human tools for humanity, the company behind world coined says the text ability to distinguish real and

unique identities could also one day be applied to universal basic income programs in, in a dominated world lines around the world. depending on where that works. we're 1st we will have to go from the jobs for today to the jobs of tomorrow, right. and that will be a little bit of a bumpy transition. and it'll be very important that we're able to support people around the world during that transition, with experiments like you'd be a universal basic income. and so to be able to do your b i, you need to be able to get money to people. but you also need to make sure that people only claim that money once. but since it's launch a month ago, a host of issues has be set world coined the most famous being tenure, suspension of the project over privacy concerns. and things have hardly improved since questions around ethics and privacy link or, and critics, a broad coin has yet to answer them satisfactorily. the 1st thing i think i want people to understand is exactly who is going to be harnessing their data. the 2nd

thing is i have some questions i would like to ask about security the, the orb that they're asking people to use is a piece of hardware that could have security flaws. that were not aware of like a question. i would have it cannon or operator access that data through a back door or some other thing is a savvy or of operator might be able to figure out a hack into the or to get the data before it's deleted. since world klein launched more than 2000000 people around the world have gotten their iris to scan, taking it on trust that their technology is functional and secure. but unless they can convince governments everywhere that the grand vision of world coined who remain just that a vision. so what's the way forward for world going? the company behind it says it's working together with regulators as reviews are conducted. unlike all tech driven network ideas,

it dreams of scale. tools for humanity told us that by next year it expects tens of millions of people to have joined the network and a lot more apps and services around the world trust started using world id further use our log ins. but in the end, what world client is selling is an ideal rather than a tangible product. and it need type in widespread by end to do that. what is the declining value of the world claim token translates to every shorter lines of new users and even shorter attention spans those milestones may be hard to achieve to help them allow them. washington, thanks a or just finally, obviously one of the lights, princess diana's most famous on schools of clothing is going up for auction. this week, the fashion icons black sheets went to is expected to fetch up to $60000.00.

the dump made headlines back in 1981 because of its concept. people speculated that the black she might have suggested that diana was feeling something of an outside. within the british royal family. the manufacturer says that they discovered it in the attic, along with a note from buckingham palace. they asked for a rich cost uh, cost even to be repaired. so they sent a new one instead and forgot about the damaged original. and that's all for me on the business team here in bell. and if you like more, you can always have to d, w dot com slash business. you can also find this on the data. we can use youtube channel, plenty of full content on that for you. and of course we're on facebook as well as the the, we don't business command, the business team here in berlin. and until next to the,

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business, dw news live from balance. prosecutors open an investigation into this scandal over the spanish football team, world cup, cuz they say the case i lose will be all is to the amounts of sexual assaults here from the form of germany play and double woke up with nadine on also on the program ukraine retake small territory and it's confir offensive to find in troops slowly advancing as they tried to break through russian defences, riddled with land mines plus.