all right, you are up to date coming up next dw business, and that's after a short break and there's plenty more news on the information on our website, dw dot com. and you can follow us on our social media caps on pablo phone alias for me on the team here in berlin. take care and we'll see a versus the come have a few. she's out to the highlights you every week in your inbox. subscribe. now the fast fashion as an environmental nightmare. a closing graveyard 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 china prepares to host a major international forum against a backdrop of geopolitical attention. leaders from around the world health we're going to arrive in beijing for the belt on road forum. among those attending russian president vladimir booth. also coming up kind of a new airport, reversed the fortunes of combo diaz, a link tourism industry. 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 felt 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 to your political might, comes against the backdrop of the devastation conflict in israel, as well as russia's ongoing war in ukraine. and among those attending this forum 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 that's taken, let us know to have put and defended china from occupations that is using the belt and road project to cement its own geo political 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 did for 2nd put earlier i spoke to china analyst fraser, how we, i began by asking him how significant to appear in this for him. we'll be and i think it's all very significant. they're very much. uh is, uh, is china and rosa, thumbing its know is that the waste and full china talks about neutrality and a peaceful solution. it clearly is supporting ross or maybe not directly with arms, with diversified, the whole structure of the business continues. and in fact, russians become more dependent on china so that i think it seems that right poor

signal for china's role in the world that are made as light the card guards are bit on it's basically offering. and there's a period of disorder, not a multiple or role, but a period of disorder where basically, countries like russia are, can have this advanced prism and you'll know that china basically has their back. so to some extent, this is a mutual a dependent relationship. where would you say the balance of power as though it's very difficult to say, i think everyone starts but rush are becoming a boss. will state of china. but the trouble is, i'm not sure how much a power train has to really influence russia. 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 it in the dark for an economy afloat. but i

think it's farmer, problematic than that because countries like russia and i think you'll see probably with the ryan and archery 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 of each other and start finding that 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 them and see are reportedly punished. talk about the idea of settling death in national currencies. how significant to move would that be for the bout and wrote more generally i'm, this is always difficult to know ultimately who the hell you want to take your rubles. you know, it's all, we're all talking direct satellite, your local courtesy and the man who, if these countries have per week turns these because the political and financial infrastructure is so cool, or even sampling and raymond b and the trouble they had,

of course, is the china is restrict, the, there may be some restricted currency, it's only basically used to buy things from china, which is fine, but eventually becomes almost like a box or form of 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 the size of the economy. but this isn't a threat to the dollar and the systems that are operating very different. but um, i think the americans need to be careful that they don't weight but nice to dollar too much. i think one of the great strengths is the everybody uses that and everybody wants to use it. i think actually argentina is a better example, which is again, a bell to north partner has large support lines. i am between the argentina and china. and yet the in the part of the leading politicians, we're just calling for dollarization. and indeed, they want to spend the rest of the 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 of asked 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 list 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 to try and he's, i almost gives it too much too much credibility. it was much more a hodge podge of different things coming together under a, 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 youtube top 9 to some of the other global business stories. major 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 in present or are currently under investigation. for us financial as ours, are you say artificial intelligence? good sparkling next. the financial crisis, security and exchange commission check our against or says he's, there is a task of straw 6 fellow, triggered by machine protection and cold on regulators from various sectors to work together to prevent such an occurrence. springs government has raised its growth

forecasts 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 farm it died. pfizer had to lower its forecasts due to weakness in its co would business. it's a come body and now where a tourism accounts for about a 10th of the countries, entire economic outputs during the pond that makes the industry. so a dramatic drop and visitor numbers as well as a significant brain drain. since then, hotels on size 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 south east asia. suppose the popular travel destination uncle was a one. you have to come body a reopened just a few visitors have returned like this wedding couple one to have the temples all to themselves for once. nick, it to you 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 the disaster. since the end of the pun, demik, 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 receive $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 phones, payment to stop and yet. uh, so the bank us will have to come back and ask us to re pay back the loan, the interest and no discount. think so uh we 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. this 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 grain 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 onto the next generation unless the situation changes past or an estimated $2000000.00 international tourists are expected to visit the temples this year, compared to 6500000 in 2019. i still remember very well about pens before career 19 at it's 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 its invasion that rocks off our show for more, you can always check at dw dot com slash business were 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. its thanks for watching, by the

turn into pears documentary, the topic every week. the on the

all the now we say they're never giving up every weekend on w. patrick bonus, and the sun is of my color just he's researching to funky, focuses on the use as the material of the future using my ceiling and the spread like network of fungal roots. he's growing the slips that today he's bringing here to try to tie to split it. how is the time will vironment is crying out for biodegradable moments here.