disappeared without warning. need to reach to us as a north korean propaganda video. was happens from north korea, which love starts october 25th on d w. the china prepared as the host, a major international forum against a backdrop of geo political tension. leaders from around the world house, we're going to arrive in beijing for the belt on road for and among those attending russian president. vladimir, please also coming up kind of a new airport, reversed the fortunes of combo diaz, ailing tourism industry. and this is dw business on k ferguson with the thanks for joining me. it's 10 years since china launched it's mazda of global infrastructure

project to the belt underwrote initiative. this week, representatives from more than a 100 countries are gathering invasion to discuss the scheme which has seen china land billions of dollars to poor nations. opened it with strict repayment the condition of the test. the initiative widely seen as a way for facing to a surface geopolitical mice comes against the backdrop of the devastation conflict in israel, as well as russia's ongoing war in ukraine. and among those attending this for him is russian president vladimir putin. this would be his 1st visit to a major global power since the beginning of the war and ukraine. in recent months, relations between china and russia have grown in importance with beijing refusing to condemn hooton's war. the 2 countries united in their struggle to combat what they perceive of western dominance. let's take less than that to have put and defend a china from occupations that is using the belt and road project to cement its own geopolitical mice. museum still?

yes, we see that some people consider it's an attempt by the people's republic of china to put someone on nights come, but we see it otherwise, we see just a desire for cooperation. you know, our own ideas on the development of your ration economic union, for example, on the construction of a great how you'll raise out by fully coincide with the chinese ideas or proposed within the framework of the belts and roads initiative, which i didn't force. i didn't put earlier, i spoke to china unless the fraser highly. i began by asking him how significant to appear in this for him will be i think it's all very significant. they're very much . ready is china and rosa bombing it's know is that the west and full china talks about neutrality on a peaceful solution. it clearly is supporting rocks or maybe not directly with arms . the device side, the whole structure of the business continues. and in fact,

russians become more dependent on china and that i think it sends a right poor signal for exciting as role in the world that are made as light the car guards are bit on it's basically ushering and there's a period of disorder, not a multiple or role that repeated of disorder. we're basically, countries like russia are, didn't have this adventure prism and you'll know that china basically has their back. so to some extent, this is a mutually dependent relationship. where would you say the balance of power as though it's very difficult to say, i think everything starts by rush are becoming a bias of the state of china. but the trouble is, i'm not sure how much a power train has to really influence russia. um, i think it was taken completely off guard by the ukraine, univision and as president had given them the heads up, i think they, they completely misunderstood what they were being told or pretend just didn't understand, of course what he was getting into. so it said you think china has the drive and see because it's keeping the environment economy afloat. but i think it's farmer,

problematic than that because countries like russia and i think you'll see probably with iran and north korea as well. other countries that china is very close to are just going to continue to cause problems and the local agents which will have problems globally. and china is able to do very little. and so it struggles and it talks about neutrality and everyone should be nice each other and start fighting. but the reality is that china is so not facilitated, but certainly is doing very little to, to rain. and some of these are old actors. so let's look at a concrete issue and i put and then see are reportedly punished. talk about the idea of suffering death in national currencies. how significant to move would that be for the belt and road more generally? um, this is always difficult to know ultimately who the hell wants to take you roots, you know, is all we're all talking back safely to your local courtesy. so the man who of these countries of per week turns these because the political in financial infrastructure is so cool, or even sampling in redmond b. um the trouble that,

of course is the china is restrict that may be as a restrictive currency. it's only basically used to buy things from china, which is fine, but basically becomes almost like a box or farmer relationship between the 2 countries. china, of course, the highest restrictive use of the b literally for 30 years. and certainly the currency is under use relative to size of the economy. but this isn't a threat to the dollar and the systems are operating very differently. and i think the americans need to be careful that they don't weigh price to dollar too much. i think one of the great strengths is that everybody uses that and everybody wants to use it. i think actually argentina is a better example, which is again, a balance of doing the partner has large small lines. i am between the argentina and china. and yet the in the one of the leading politicians, we're just calling for dollarization. and indeed they want to spend the rest of the day because they don't want to spend their us dollars. so there's still

a lot of walking distance to go before china is any way. it's threatening the dollar and the current financial arrangements a decade on how close is the belt on road today to what china originally envisioned? well, i think that's the problem. i'm not sure they didn't put their shares themselves spot, the invasion that we talked about, the change it on a bass or, and this is, this is always putting up a substance due after the fact the cause of course, 10 years ago, it wasn't the bell initiative it was called one belt one road, and even before that, it was really in a volleyball, most of projects that china had be developing across the what was generally seen as the global side. i'm trying to so many global as you political relations and trades relationships. so it's, i think, to call it a diet a project as if this was some great plan that the chinese are almost gives it too much uh too much credibility. it was much more a hodge podge of different things coming together under basically

a marketing brand. that was china unless fraser highway there. and you can watch my entire conversation with him about china is spelled and wrote initiative on the deal. the news you too tall 9 to some of the other global business stories making news. the former bank of china chairman new young has been arrested on suspicion of taking bribes and legally granting loans. the rest of the 62 year old is not an isolated incidents, but part of a broader anti corruption pro into china as a financial sector. several executives of state own bank, so being fined and present or are currently under investigation to us financial as ours. are you say artificial intelligence could spark the next, the financial crisis, security and exchange commission check our against for says he's here is a casso drumsticks fellow, triggered by machine protection. and it's called on regulators from various sectors to work together to prevent such an occurrence. springs government has raised its

growth for cost for this year from 2 point one to 2.4 percent. that's due to a recovery and sectors like tourism and construction. the revision comes with the countries acting prime minister petro sanchez, 6 fucking to stay in office after an inconclusive summer election. german vaccine maker biotech has taken a major hit due to weaker than expected demand for its cobra job. the 900000000 euro earnings adjustment is mainly due to excess room materials purchased during the pandemic. and use comes days after us farmington and pfizer, how to lower its forecasts, due to weakness in its co would business it's a come body. and now where it tourism accounts for about a 10th of the countries, entire economic outputs during the ponds that makes the industry for a dramatic drop and visitor numbers, as well as a significant brain drain. since then, hotels on sized operators have struggled to lower it. visitors back know

a new airport and the 2nd largest city of c. m. re is spring hopes of a turnaround. train for taurus to come back. this used to be one of southeast asia as post popular travel, destination, unquote. healey. one. yeah. of to can body a reopened just a few visitors have returned like this wedding couple one to have the temples all to themselves for one's nick, it kind of for us. this is grace. it's a fantastic opportunity to get our photo shoot them a portal for hotels. however, the absence of tourist is a diesel stuff. since the end of the pandemic, only about 60 percent of the establishment are back in business. thousands of drops are gone, and so is the support from the government. during the pandemic hotels received $40.00 a day per employee and value added tax was also eliminated. when the business reopens

actually like spend coming back uh, including, you know, about food payment to stop and yet. so the banks will have to come back and ask us to re pay back the loan, the interest and notice kind of thing. so uh we are actually in some of the a quite a bit most severe then the crisis, he says, the tourism advertising campaign should have been much better. what gives him hope is that c m re received a 150000000 facelift during depend demik and the new airport was filled. schools should finally bring the largest group of tourists from china back into the country foretells. so the new stores and also their makers, this would be very essential. the post cobit crisis here as hit the entire tourism value change during the 10 that make we experience a big green drain from the tourism industry and see and re qualified personnel. and people with good language skills moved into the capital city into the other

industries and are not willing to come back in due to the tourism industry because it seems not reliable. at this reading shop, there's concerned that unique skills won't be passed on to the next generation unless the situation changes past. an estimate of 2000000 international tourists are expected to visit the temples this year, compared to 6500000 in 2019. i still remember very well about the 10s before career 19 at it was crazy. it's um, it's full of, of people off the reason for tourists, one to explore archaeological sites without the crowds. the timing couldn't be better getting an exclusive snapshot in front of one of the 7 wonders of the world has never been easy. a and

a reminder of the top business story we're following for you this our years from around the world are gathering in beijing for the belt and broad forum. among those attending is russian president vladimir 1st visit to a major global power since his invasion of that rocks off our show for more you can always check out w dot com slash business square on the dw news youtube channel as well, and growth on facebook. so you can find there as well, for me on the business team here in berlin. it's thanks for watching by the

are you ready to get a little more in these places and you're at a smashing old venture just gripped the treasure map for modern globe charges. some of your ranking sites on your max. you choose the people in trucks inject when trying to see the city center on the street. explain the around the world more than 150000000 people of are we

all mine because no one should have to make up your own mind. dw may 4 mines the keys among the best horses is in the world. and the low searching co from ukraine won the gold medal at the $22212.00 games. but when will began in his country and his hometown is to meet pro, was hit by bones, his life radically changed the nino is much more than an athlete. now he's an i'm boss to do if he's country. supposing his compact tree, it's during rushes war in ukraine. i don't think anyone should ever go through this stage of life ever to you know,

live in war conditions. it's very sense the the city of denise cro in southeast you train it nice on the river of the same name . the surge longest in europe from above. it looks like a peaceful metropolis. but the host cut them destroyed in early june 2023. the front line around the about a 100 kilometers away at a rate shelters can be found on every corner. the sentence of lucius, since the allies in the house of the city, it's a tourist attraction. a sporting hub, it's.