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tv   Business - News  Deutsche Welle  September 29, 2023 8:15am-8:31am CEST

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drunk to find the john lying on its side on thursday morning. police arrested a 16 year old boy in connection with what appears to have been an act of vandalism . i set you up to date, i'll have more world news at the top of the hour coming up next on the w. speaking fits late for the latest on the prices of the chinese properties development and the grad date and your business have a good day. the time of change can be viewed as the natural conclusion of the time and change the age of enlightened 300 year old ideas be responsible for today's problem. and could they help us solve them? i believe our futures in our past. how significant other beginning of the done as
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a series of the great philosophers to our present and future enlightenment says progresses in our hands and that news. so it's really, it's up to us, our series project, enlightenment starts october 5th on dw, the . every grand tries to limit the damage as concerns over its debility, grow the chinese developers. suspending trading in its chairs on thursday. and now says that ceo faces criminal investigation is time running out for a company teetering on the edge. also on our show, a dispute between india and canada over responsibility for the murder of a sick activist is now hitting trade ties. and how about
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a face scan instead of a passport check? vinland is now giving it a try. so welcome to our show. obviously, even beardsley in berlin. well, ties between canada and india have deteriorated sense, prime minister justin for though accused new delhi of orchestrating the assassination of a 6 separatist leader and british columbia. now the diplomatic stand off threatens to spill over into both countries, economies free trade deal. the 2 nations were negotiating is now in jeopardy, potentially in pending, potentially harming india's effort to attract western investments as an alternative to china. additionally, canada's higher education sector may be effected. a deli has now warrant indian citizens in canada about their safety. last year, indians made up almost 30 percent of the total foreign students at canadian universities. and for more of this, i'm joined by roger biswas, asia pacific chief economist for s and p global market intelligence. and our
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correspondent charo card to k in delhi. welcome to both of you. charl. i want to begin with you. this issue between india and canada has escalated quickly in the past weeks. has it hit trade so far? it was uh, not significantly yet. what are the boats do appear to be coming in steven? uh, for example, uh that other boats that link it'll save us from canada to india have have already slowed down. now um india buys a lot of lentils from canada, which is a staple, a source of a protein here in india. and that are both at the saves. they've already slowed down, although the government sources have told the media that no farm orders to this, to this effect has been given. but there's an apprehension that the situation could, was in, in, in the next few weeks. apart from that, the 3 below obviously was put on hold. the lead talks about being held between both
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the countries on a trade bill and canada announced formally that the talks about of on that trade deal that have been put on hold for. now, rajiv, we see this whole being put on these trade talks right now. india potentially buying fewer lentils from canada as a result of what's going on. is that so bad? we look at the overall trade relations between the 2. can you put this into perspective for us, what the relations are between these 2 countries as well? i think of india and canada do have quite extensive trade relations in both goods and services which amounts to about $15000000000.00 per year and bio actual trade. so obviously, if some services exports, such as tourism or education, are temporarily impacted by these diplomatic problems, then it will at least in the short term,
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be damaging for both nations and for the broader exchange between both nations. and we also have to bear in mind a very significant proportion of kind of us population, our ethnic indians that may not be indian nationalist, but canadian nationals who may then also have difficulties who are going back for cultural reasons to india. so there's all kinds of ramifications that could come into play that affect um, the broader relations between these 2 big democracies. and we have to remember that these are 2 of the world's top 10 economies. india is the 5th largest economy in the world in canada. so canada, as a nice largest economy, they're both industry 20, they're both very important partners in the commonwealth. and so i think in the long term it's so important that they move forward together and find solutions for
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these issues which are actually very focused on law enforcement. issues and that, that doesn't affect the broader relationship between the 2 countries, based on between the indian population and in canada with their, with their link spectrum with it. and yeah, all right, this project, this was at s and p global market intelligence. and our correspondent and deli charl carts. ok, thank you both. now to everett ran, the massively indebted property developer that's been skirting the edge of collapse in china. on thursday is suspended all trading in its shares in hong kong following news. the police were holding it's chairman and founder, we call you on the company now says we face is criminal investigation. the trade stop raises, breast doubts about the future of the company, which has been racing to restructure. it's more than $300000000000.00 in debt.
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there's been casting a shadow over the entire chinese economy earlier this week ever grants that it will no longer be able to issue new debt. we don't quotes the quotes. he is an economist at the university of saint gala. he joins me for more detail. welcome to the show i ever dreamt is the face of china is property market crisis, which is of course, helping hold this economy down. what exactly are we seeing take place right now? for the moment we see the trade their own up tend to restart the trading it shares again because because they stopped actually find for bankruptcy in the united states. and you may do this, this clearly the single as you said, of the cost of it because it is, uh, it is uh, probably the worst. uh there was, uh, one was developer. this is um, this is a company that has been trying to restructure this debt frantically over months. now, what we're seeing happened in the last few weeks. does this suggest that this restructuring
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effort is going to essentially be a failed one? and that there might have to be more serious steps. liquidation my impression is that yes that this is going to be, this is going to be solvable for ever gran. however, my and my pershing so so that, that be cheaper, you know, way by over. you know, i see we could say every brand is sending a line, a red line and very good. our go back to, to, to their policy of, of a motor lied seeing the housing market. so there are other developers that would survive. and so only the worst that will act. so this is what patient needs hoping . $300000000000.00 and liabilities. but that's what every brand has. that's as much as finland's, annual economic output. can china's economy, really stomach an evergreen collapse while it will be spread for sure. in the
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stock. however, at the same time, uh the no, that would be no credit crash because uh, the, the attorneys banks are very strong and they are strong and supported by the central bank and by the government. so uh it might, and my impression would be is that the people were unfortunately, uh, you know, uh, based on this uh, developer will that will have suffered by the whole economy and we will get through this crisis briefly. do you know, does badging have a coherent strategy for dealing with these tutoring, property giants? they have a strategy that they are trying to support the public, the market by facilitating a new uh, buyers. for example, the 1st time buyers uh, down payments that have been slashed to 20 percent though, so they're using interest rates are lowering the negotiations off the interest rate in the mortgages. so they have types of support that. obviously, in order to minimize the damage of a, in my opinion, they should also try to relieve some of the, some of the people,
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some of the families who are at risk of getting their money back from ever. again, that's key to quotes the at the university of st. gallon. thank you very much. i now to some of the other global business stories making headlines. mitsubishi is planning to pull out of car production in china. that's according to japanese newspaper, new k mitsubishi had already halted output in china in march due to following sales . the rapid growth of chinese automakers like b y, d and s a i see motor are putting increased pressure on ford brands trying to compete there. the german economy is performing worse than expected, a group of leading economic experts in germany as now forecast g d p to fall by just over half percent this year. the economist saying that slower recovery is an industry and private consumption. arthur blake, ryan air has cut flights and it's winter schedule due to aircraft delivery delays. the company now expects to receive 14 new planes between september and december instead of the originally planned 27. that's due to
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a slow down in production at boeing sites in kansas and seattle as well. if you've ever traveled by air, you probably know what a pain passport lines can be. then how much fun for airports or customs agents as well. and that's why finland is trying a new system, a face scan instead of a passport check. but what the passengers think. take a look when air travelers want to skip passport lines and scan their faces instead . finland does testing that trade off right now in a european union pilot project using digital travel credentials for dtc. that began in late august testing a system that in the future aims to do away with physical documents and require only your face and your phone for check in to the dc. it hasn't been used anywhere else. so this is the 1st time in the world. the 1st phase of testing is open to finish. citizens traveling to or from london, manchester or edinburgh. outside the european union's passport free travel zone.
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passengers must sign up for the program ahead of time and get verified. then register for a flight up to 36 hours in advance departure, an arrival to hand to think it on supplementing this information at the airport, they're separate checking calendars for the official scan for now, travelers still need to scan their passports, but there's no interaction with authorities manual identity checks at airports, take an average 30 seconds per person. me go by some and says, 30 days a check. what for ya? testing is less than 10 seconds, so it's $32.00 and a half times pasta. so if you're going to have a $10000.00 pass interest, then you're really save of time there at the moment, just a few days into the pilot project, interest among passengers has been pretty low. they're not even getting one person per flight signing up to use the dtc, but make a vice one is that's ok. even if they get only a couple 100 over the course of the testing period. he says that will be enough to
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show whether the system is viable and worthwhile travellers were uniformly positive about it. technologies go into change the societies while it's developing. so usually just fill along with. yeah, i think so. yeah. do you think that's the future of travel now? i think so. yeah, sure that i feel comfortable and i feel like it's way easier. personal information will be deleted in 24 hours by some and says there hasn't been a big debate about data privacy and he doesn't really expect one. if it's speeding the process on, you spend less time for the board of checks than i would say people. i'm all happy about it, the you funded most of the 2300000 euro cost that also covers croatia, testing the system authorities hope the block will be equipped to allow 80 percent of air travelers to use dtc by the end of this decade. and that's our show, find out more lines you w dot com slash business. thanks for watching the
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a special edition of conflicts down with tim sebastian, this is a border crossing point from moldova into ukraine. familiar with the con moments between ukraine and russia is roughly a 100 kilometers away. the big question dominates here is where the mold does the next target. click the next on d, w to the point strong and clear position. international perspective. ukraine is trying to retake crimea home to russia as black, the fleet with a tax almost on a daily basis, with the promise of new weapons coming from the us. on to the point we asked us to attack them, missiles and abrams task is russia losing premier to the point in
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6 to minutes, only d w we say they're about never getting up every weekend on d w. the a good peaceful as h a p is most of us sits right next door to ukraine and the searing, devastating conflict with no end in sight since february last year. the country of just 2 and a half 1000000 has been under a state of emergency wherever the fighting might spread to its own territory. by actually.

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