s d u has announced an investigation into chinese electric comedy cuz brussel suspects state health from badging is giving them an unfair advantage in the market . speaking during a state of the union address is european commission president, west of the front line global markets on no flood. it was cheaper chinese electric cars. and the price is kept artificially low by huge states subsidies. this is distorting our market and as we do not accept this distortion from the inside in our market, we do not accept this from the outside. but we can now speak to greg o sebastian from the maqueta institute, the china. so these, thanks a lot of being with us, regular people in your might have noticed the arrival of chinese electric vehicles on the street. save it. what sort of impacts are they having on the com? ok, it they're having a increasing rapid entry into the market and i think that's really going to shake

up competition last week on the buy a you could see that many chinese comic is the likes of the warranty. but it also companies like psych on the, the, the new market and then the models for the market. and i think this is really wake up call. this competition is not only eating up in china, all the markets, but it's also get to europe in combat because at that home to yeah, cuz come making is obviously a very big business here in your what sort of support is the alleging that chinese electric comic is have been guessing from badging or so the us now proposing to investigate that, the exec distortions that could be impacting the or the market. what is quite likely to be found is that a chinese produces what china based companies, because we shouldn't forget that there's also phone companies like tesla or w producing in china for the export, including to europe,

that they have benefited from below market financing, for instance, that they have received loans from china state on the banks that they wouldn't get on know a lot of conditions, but it also includes other support practice like a free or it's really cheap loud for support when it comes to innovation activities . and finally, time that has taken protective measures to also shield is owned by credit card companies. lexia tell will be what the, the jaime impactful in the 2nd to from phone competition. and all that is going to be investigated into cost funding. you cushion. and it's obviously helpful for chinese comic is that they can sell that costs are cheaper than, than your things, but in the isn't there. and argument the china is just doing a better job of nurturing it's electric cost back there. cuz it seems to be just a step ahead of your comic is on this. so i think it's the both you are you completely right. so i just call mike as on x 3 me, you know, but if,

and i think that was a really hit the nail on the head when it comes to the finding a and, and then targeting the tastes of consumers in china, especially. i think what you can call make is have for some time the next it is is to really tailor the call to the local, tight strike. you don't necessarily need a call that is super powerful. what time is consumers are looking for these digital features and also cheaper prices. then you're getting companies off offering. and increasingly, i think the chinese companies like the what the confidence that they can not only hit the consumer taste in the home market, but they will also find success and overseas markets, including in europe, goes to best in front of the k to institute for china. studies the so you know, so another key chinese sector because real estate was a driving force behind this economy for many years. but now it's in deep crisis, develop a debt and

a backlog of unfinished buildings. i've left many chinese homebuyers. i've seen the cold here in lou han and central china. we can only film with our mobile phones, uniformed in plain clothes, police are monitoring a demonstration. the people here are demanding that their apartments, which they've paid ailing real estate, china ever grant to build. finally, be completed. the local government is supposed to help, but they are short on funds to on the outskirts we meet a homebuyer who is afraid of losing his money. he doesn't want to be identified due to pressure the police have already put on many of the demonstrators. a woman similar to some of our goal is to the government to assure us of completion and actually carried out without empty promises. the government has repeatedly said that the construction will be completed, but it seems to be an empty promise. we're looking for the promised apartment.

it should have been ready for occupancy months ago. every brand was a symbol of the chinese growth model. keep building, keep driving up g d p. this mindset has led to an unprecedented construction boom. accounting for 30 percent of china is economic output. so far. the local governments have profited from land sales for decades. apartments of speculative objects, but the boom times are over for now. ever grant and other real estate companies are heavily in debt with hundreds of billions of euro. that's dangerous for the entire economy. testers, michael pettis has taken university, explains a risky financing model that now appears to be coming to an end basically by forcing you to pay 2 years before the apartment is ready. they're borrowing from you and you in turn borrow it from the bank. and again, as long as prices keep going up, that system works, it's not a problem. but once the price is stopped going up and developers started to run

into trouble. they learned that the longer they stretched out the building of the apartment, the more they could get this free, this free borrow and the real estate crisis is a major problem for the chinese economy and a deeper economic crisis now looms. every 5th, young person cannot find a job. consumption is weak. exports have collapsed. the previously, rapid growth was heavily based on investments and real estate infrastructure, bridges, highways, new trains, stations. it helped lift 800000000 people out of extreme poverty over the past 40 years. but the investment driven growth model no longer works, somebody within the, within the economy households, the rich businesses, local governments, central government, somebody has to take a big loss. and that's a very political process. and of course it's also a very painful shoot. you the government's response on state television. there is

no crisis. everything points, upward, growth and income in the ever ground new city project, families are still waiting to move in after the demonstration. they've been given new move in dates for these buildings. the end of 2024, but nobody here really believes that. so here's the question to china's economic lawyers make it a more likely that the country could invade tie one or mike gallagher, the republican chair of the us congressional committee on china says, yes, he said that as trying to confront serious economic and demographic issues, she didn't think it could get more risk accepting and could get less predictable and do something very stupid. he says he disagrees with president joe biden, who says china is economic down to and makes an invasion less likely in recent years, trying his ministry has stepped up its activity around the taiwan, which paging flames at its own territory. let's get to the bottom of it. this way

of correspondence in taipei, you generally you chance. i mean, why would an economically weakened china be more likely to engage taiwan? if that is the case as well. my name elisa wages. what can be attacked as a countries like china to distract their people from domestic problems as a series of reasons, a high show that china's economic re found after reopening is weaker and lower the expect to some experts. a china can become more aggressive, and telling went to a political attentions by highlighting the threats from the west or the importance of unifying taiwan at democratic island, china, our claim assets out staging may be able to distract the pop legs from is frequent high use unemployment rate and look worse than the property market slot and a country's economic growth is highly related to is military power. some. alice

also predicts that the invasion could potentially happen with seeing a decade as agents military capability will be as high as in the near term. while as economy may reach, is peak and start to decline gradually. so you know, off this as some of the leads may prove to the chinese leadership as good timing to attack type one. okay, so that's the, i'll give them full of what about the arguments against was the argument in favor of the idea of it's actually a week in china, economically, you know, is, is less likely to, to launch an attack on tele yeah, so some people, including the u. s. preston, job i those said it shouldn't be the other way around. they claim the chinese leadership can be busy dealing with is because nomics challenges and may not have the same capacity that he had before to to start an attack. and so also say chinese preston shooting, he is learning from the ukraine. walsh i will and knew was it attacked by one,

there will be massive st cuz the sanctions from the west and so there heard is economy. but when it comes to such arguments, china of course dismissed the western commons on this comics allison. as foreign ministry said yesterday, quote, swap has collapsed as such, bethel rigg, not china's economy. and they also stressed out a prospect of ethics on the growth payments on change in the long run. you can lee and type pay for is that now let's take a look at some of the other global business stories that in making induce frontier with our to is have audit apple to wholesalers of the iphone 12 after tests. so it is emitted too much radiation absorbed by the body, but apple says the phone has been certified by multiple international bodies as compliant and global radiation stand hey, to them is planning on selling secondhand clothes. the thing is flagship store in

london and move that reflects the pressure on fast fashion companies to cook. their environmental impact is comes ahead or planned a regulations to crack down on tech styles, waste a problem. these ways retailer admits that his pots of the not just the full week are they have a, don't just see to see these nuns and hike as them germans are known to controversially with them. occasionally, with white socks. now the was best known ascend omega is taking steps to mock 250 years business by selling back and stocks out there. but you haven't company it has filed for an initial public offering in the us. that would value it at more than $8000000000.00. that is no mean feat for a company that only began selling there in 1966 after wanting to discuss with them on vacation. and we got importing them just in time. so the, if you move so from the end of business team here in balance, and we'll head to theda, we dot com slash business to the next time the,

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the, the, you're watching, you know, the news coming to live from for late. thousands remain missing in libya, days after massive flooding. it will be in government ministers at the sears. the depths told me double with more than 5000 bodies already recovered. much of the city of darren or is it destroyed after torrential rains cause to dance traversed also coming up on the show, your career comes on and pledges full support to most conquering talks with president vladimir putin in russia's farm east. the.