has released 50 us citizens, as part of a prisoner swap. they're being exchanged for 5 arabians held in the us and for access to $6000000000.00 and frozen oil revenue. and that's all for me for now. let's keep watching to find out how low water levels are disrupting traffic through the panama canal. cobra will have that story and more next on business news that's after the break and really take your and fees. so by the sometimes to have that you out to the highlight for sure every week. not them on the fast fashion as an environmental nightmare. a clothing graveyard, an image of land desert. this is where things wealthy industrial nations no longer need and the lightest textile waste

gets stranded here. all about the final stuff in the global fashion industry. fast fashion. watch now on youtube, the a number of arrests and a whole new layer to a growing problem. police in china, detain staff, and the wealth management arm of about a property developer ever ran. for a lot of expert analysis on the impact and the company struggle to serve on also on the sho, apple supply or fox con, says it's going big in india to hear more on what that means for the country. and it's, it cannot make rivalry with china. and low water levels have been disrupting shift truck, thanks to the town of like

a mouse with consumers likely to pay the price during christmas and chinese new year celebrations. course 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 i have a grant plunge 25 percent one trading opened in hong kong, but later bounce back. for more let's bring in zoe lou zone young. she is a fellow for international economic policy at the council on foreign relations. welcome to dw 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 a financial crime you 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 starting from august, the 2021. there have been several waves of prod has related to our grant 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 your 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? are 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 brandy. but 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 and work around it as a company is already fall from the throwing in terms of the prop a 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 investigation probably came into on the one hand. so they're looking into where the money could have could have gone how to trace money back from them. more importantly, how to stabilize china's 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 agreements. almost 13000 auto workers from may on strike against different plans. they are demanding a rage increase of 40 percent while they have been offered 21 time one is apples of liar, fox, con, and double as 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

in the world's most populous nation. a bid to move away from china, fox con, has already invested in manufacturing facilities and 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. and that's, let's bring in our vend ponagorada i. he's an economist at the columbia university in new york. a welcome to the w. why does fox con, want to do that? as well? you know, monthly prospectus 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 are operating in china from various

parts of the word are looking for an alternative at that location. and then, you know, potentially in some sense, india of course be a lot this market. you know, it's not just being turned on the market from the products, but also if they want to then diversify into the components, etc. all what they initially going to manufacture. and then uh, this quote for us that expansion in india is much larger. i mean, i'm comparing here with countries likely. if not, i guess all these different countries, i think the only other contributes that half of 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 there under modi's birthday, tells us what may be going through that. so it may very,

very be a orchestra method as an a because the, you know, the prime minister mode be a max. pay attention to these, the fans. so it's entirely possible then the add a, you know, before what's going on. so to get the attention of the prime minister names, 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 and if you, on the d, w, you tube channels. 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 to journeys up to 14000 ships. used to come out 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 pass through the panama canal. it's a passage through the ivr needle, just over 33 meters wide. the middle of floor is loc allows for barely any wiggle room. but in the, in this ball, carrier from single poor 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, c o m on a 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'll, we'll be in a more serious situation. next year. i'm going to see the ceiling market. all right, but it is rainy season, but reinforce scares a drizzle at best. the all new phenomenon is hitting panama hard. that is 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 with don't book except longer waiting times. meanwhile, the day the number of ships allowed in the canal currently $32.00 could also drop, causing the loss of up to $200000000.00 in revenues next year. and threatening trade, especially in the u. s. and asia. also some bare necessities art stakes. us economist color, so that's garcia after all, drain among other items,

the ship to the canals. you know, i bigger concern has to do with greens 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, in perfect world the one we're leaving, of course, of course, and that be, i mean, prices may take a rise in the next 69 months due to the situation our base and right now in panama . meanwhile canal administrator, so studying different options including to get water from elsewhere. the one on the ceilings, one possible solution is the development of new water projects with some kind of investments 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 in goods

that pass through the canals. boy, but i think ok, you've got to go about 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 as china's battles. 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 plunge 25 percent on trading opened and no one called later. because social for now for more check out our website at dw dot com slash business, and of course the details each is colburn. berlin, thanks for watching or be successful. the

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