as with the shoots, a still on the loose, belgium's prime minister, is wanting people to be vigilant. so that you're up to date coming up next the w business with more on russian presence, not in the person's trip to china. and you can click in an invalid and thank you very much for watching the hello guys. this is the 77 percent. the platform for the seats issues, share id, the, you know, or the senate will be a not a great to catch. and then you get to talk to applicants. population is really fast

. the young people clearly have the solution. the future is 77 percent. every weekend on dw, the china, for parents to host a major international for them, against a backdrop of geopolitical attention. leaders from around the world house, we're going to arrive in beijing for the felt 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, aging tourism industry. this is dw business and k ferguson, and 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 and beijing to discuss the scheme which has seen china land billions of dollars to poor nations. opened it with strict repayment conditions to test the initiative widely seen as a way for phasing 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 a listener too high, put and defended china from accusations that is using the belt and road project to cement its own geo political much 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 the, your region, economic union, for example, on the construction of a great how you'll raise out to buy fully coincide with the chinese ideas proposed within the framework of the belts and roads initiative which so again, for 2nd earlier i spoke to china analyst fraser, how we, 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 plumbing it's know is that the waste and full china talks about neutrality and 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 so that i think it sends that right poor

signal for china's 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 gen, how 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, you're becoming a boss of the state of china. the trouble is, i'm not sure how much a power train has to really influence structure. um, i think it was taken completely off guard by the ukraine, univision, um, 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 that 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 somebody is doing very little to, to rain. and some of these are old actors. so let's look at a concrete issue now put and then she reported late police talk about the idea of suffering death in national currencies. how significant to move would that be for the belt and road 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 like say what your job, local courtesy and the man who, if these countries have per week turn 6. because the political and financial infrastructure is so cool, or even sampling in raymond b. and the trouble they had,

of course, is the china is restrict the, there may be some restrictive 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 that may be 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 wait for an ice. the 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 belt of doing the partner has large support lines and 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 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 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, 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 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 dw news youtube top 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 crossing loans. the rest of the 62 year old is not an isolated incidents, but part of a broader anti corruption proved into china as a financial sector. several executives of state own banks have been fined in present or are currently under investigation for us financial as ours. are you say artificial intelligence could sparkling next? the financial crisis, security and exchange commission check our against for says he's, there is a task of traffic 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 inclusive 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 know where a 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 size operators have struggled to lower it. visitors back know

a new airport and the 2nd largest city of cm rate is spring hopes of a turnaround. train for taurus to come back. this used to be one of southeast asia as most popular travel destination, encore, healey, one year after combined audio reopened. just a few visitors have returned like this wedding couple. one to half the temples all to themselves. for once. nick, good to you kind of for us. this is grace. it's a fantastic opportunity to get our photos. you've done a portal for hotels. however, the absence of tourist is the disaster. 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 spending coming back uh, including, you know, about food 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 thing. so uh we actually in some of the a quite a bit. most of you 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 experienced 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 fast. or an estimated 2000000 international tourists are expected to visit the temples this year, compared to 6500000 in 2019. i still remember very well about tens 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 his invasion and that drops off our show for more you can always check out the w dot com slash business were on the dw news youtube channel as well, and growth on facebook so you can find this there as well, for me on the business team here in berlin. it's thanks for watching by the

looking into the future. at 140 the tech knows found that continues to shape new generations of office message has always been pushed. the boundaries beyond south. everything is possible. both next dw kick off the and we are all set and we're watching closely. we all

seem to bring you the story behind the news. we rolled about unbiased information for 3 months. the culture of home is what's the state of take note today? i think that type of music, especially especially the popular influence decisions that have on the younger generation and which d j is a putting this stand on take know now i would say these charts say a lot about the or societies as they don't say anything.