was likely to pay the price during christmas and chinese new year celebrations. chris cobra, welcome to program. police, have detained staff at china's in battle property developer. every company sits at the heart of the nations property crisis. and the investigation by law enforcement signal's a new phase involving the criminal justice police arrest the staff of the company's wealth management unit. not disclosing how many people were detained shares and have a ground plunge 25 percent when trading opened in hong kong. but later bounce back for more let's bring in zoe lou as on young. she is a fellow for international economic policy at the council on foreign relations. welcome to the w. zoe. what are we to make of these these arrests? thank you very much, chris, for having me. i'm 1st of all, the having the police department or public a security people involved again,

a financial crime or financial issue is, is not necessarily unusual in china because the, the justice a system with him, off the public security or the local police bureau and be have financial crimes investigation also here is in this particular case with regard to our ground. there are the so far we do not know exactly to what extent are there is a financial crime or, or, or anything related to that has actually happened. however, it has evolved into a public, a security concern in china because um, starting from august, the 2021. there have been, uh, several waives of prod has related to our grand is a wealth management unit or the wealth or other word is the shuttle banking.

the idea that our grand, you're getting involved into the shuttle banking system. it is triggered the masters to protest. so it became a public security problem. now there's been a statement issued by the patients and a police saying that an investigation into the financial management unit is ongoing at the police call on investigators and the public to report any cases of suspected fraud to the authorities. is it a finger point towards what is being investigated here as a very, very, very likely, because our grande's either had didn't have a wealth management unit and the wealth management unit is notorious knowledge of support. and we're grandy back across the financial, across the banking system. in china is notoriously not transparent, and there have been multiple cases of fraud. the print in previous years of being reported. what are these are risk then mean for ever grand as this

and battled company as it is? i'm a, our ground as a company is that already fall from the throwing in terms of the prop of privately owned property developers in china market. and right now the company itself is a stove in the midst of government, a guided data restructuring. and it has been locked in for quite some time. so this additional, you must occasion probably came into on the one hand, further looking into where the money could, could have gone how to trace money back from the more importantly, how to stabilize china is the housing market. so as again, as the council on foreign relations speaking there and not to some of the other global business stories making news. germany is set to draw more than half of its power from renewable sources. this that's according to economy is sort of a hobby because it more is needed to meet ambitious renewable energy goals until 20

for oil refineries are struggling to meet global demand for diesel with prices for the fuel. jumping to a seasonal high, that the trend or saudi arabia and russia limiting production of crude and less loss, the refining capacity is reflecting. the signers devious diversification away from the use of products. auto workers and united states continue the strike against the detroit 3. after negotiations between the union and general motors, ford and chrysler parent companies to lantus didn't lead to any agreement. almost 13000. all the workers may on strike against different plans. they are demanding a rage increase of 40 percent while they have been offered $21.00 time one is apples of liar, fox, con. and so double is workforce and investment in india over the coming 12 months. that's according to a company executive, the world's largest contracts maker. of electronics has been expanding his presence and the world's most populous nation. a bid to move away from china, fox con,

has already invested in manufacturing facilities in southern india, of our employers, 40000 people last month. the state of canada cassette a supplier will invest $600000000.00 in projects there for making iphone parts and ship making. equipped for more than that, let's bring in our vend ponagorada i. he's an economist at the columbia university in new york. well, come to dw, but why does fox con, want to do that? or not, most of us practice engaged, been rising, and that the economy is doing then. so it's a good, a destination for multi nationals, but also there is a diversification going on from a very, from china. and that the large companies which operating in china, from various parts of the word are looking for an alternative at that location. and

the unit potentially, in some sense, india of course, be a lot of this market. you know, it's not just been turned in the market from the products, but also if they want to, then that would suffice to be compliments, etc. or what they initially going to manufacture then at the school for such a expansion in india, it's much larger. i mean, i'm comparing here with countries like vietnam. i guess all these different countries, i think the only other country which has the size is indonesia. but the probably the ecosystem and big growth stuff. india is a significantly larger let's talk about how india is taking up against these all the countries here in a 2nd. first, i would like to know the fact that this announcement was made on prime minister and the run remote, his birthday tells us what it may be going to bed. so it may very, very be arc estimated as read because, you know,

the prime minister must be a, must pay attention to these details. so it's entirely possible. but then the as a, you know, before fall is going on. so to get the attention of the prime minister and then they chose to a non say, punk, this thing that was, are going to punish already a professor of indian political economy at columbia university in new york. and you can watch the entire interview. on the d, w. youtube channel. one of the world's most important shipping routes is seeing significant disruption only around 80 kilometers long. the panama canal saves vessels having to circumnavigate the whole of north or south america or embark on time consuming land. journeys up to $14000.00 ships, use the canal and central america each year. transporting grains crude oil, ellen gee, and all the products the past year. the canal generated around 4 and a half $1000000000.00,

but this could change and ongoing drought has left water levels of the canal depleted, causing as operators to cut down on the number of passenger passages, the w's latin america correspondent, nicole ris reports. precision is key when huge vessels passed through the panama canal. it's a passage through the ivr needle, just over 33 meters wide. the middle of floor is loc allows so barely any wiggle room. but in the, in this ball, carrier from single pour can pass. but there's other problems affected by a severe drought. the canal administration has been tightening restrictions over the past months, reducing passages and the amount of cargo ships can carry. and it's difficult to say a full when the situation will change. a pseudo remo, hey, one sample to see if i am 80 percent worried right around now we should accumulate enough water to get to the next dr season that begins in mid december and ends in mid may. if we do not manage to recover to normal levels until mid december,

we will be in a more serious situation next year. is that a i'm going to take the feeling? am i gonna wait for someone? it is rainy season, but rain full of scares, addresses look best. the all new phenomenon is hitting panama hard at his worst river, so close to drawing up. and despite some precipitation, reservoirs feeding the canals still carry less water than usually, although the canals secures passage for all the ships that have booked the slot in advance back lock. so now possible. those so don't book accept long go waiting times. meanwhile, the day the number of ships allowed in the canal currently $32.00 could also drop, causing a loss of up to $200000000.00 in revenues next year. and threatening trade, especially in the u. s. in asia. also some bare necessities art stakes. us economist color, so that's garcia after all, drain among other items. the ship to the canal,

you live bigger concern. it has to do with grains with food and, and that could really just spike, especially with the worried crane and the conflicts there. decrease a lot of attention when it comes down to the actual supply of grains. and, you know, an imperfect world. the one we're leaving, of course. uh, unfortunately, i mean prices may take a rise until the next 69 months due to the situation. we're basing right now in panama. meanwhile, canal administrator. so studying different options, including to get water from elsewhere or the one on the ceilings. one possible solution is the development of new water projects with some kind of investment that allows us to accumulate more water import water from neighboring basins in such a way that we promptly meet the need for growth of the surrounding population. because there is also a growing demand of drinking water and there's the increase of vessels and goods the past. so the canals, boy, but i think, okay, you've got

a got people are getting approval for such plans could take years until then more restrictions are likely scenario to safe water and reduce losses. and here's a look at our top. sorry, chinese, please have detained staff at china about the property developer ever signaling a new phase in the investigation with the company at the heart of the countries property christ's shares and everyone plunged 25 percent when trading open to non call later, we call it social for an hour or more, check out our website at dw dot com slash business, and of course the details each was cobra and berlin. thanks for watching. every successful, the

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