speech from the white house is over loss as to stress back in both was quote, the vital for us and national security. that's all for now, but stay with us. kate ferguson will be here after a short break with dw business. you can get your news 247 on our website. that's d w dot com. hm. oh and breland. thanks for watching. take care. the world in progress. health costs to everyone who wants to know more about this topic . that concerned about this story is beyond the headline world in progress. the w postcard. evelyn charmaya. welcome to my pod cast. last the matter is that i invite celebrities influenza and experts to talk about all plain loves. thanks and data. and yet today,

nothing less. the stuff, all these things in more and the new season of the fuck. com. make sure to tune in wherever you get your pots costs and join the conversation. because you know, it's last matter the further flow to china's aiming property sector as one of the biggest developers country garden inches towards a default. we'll take you inside the empty sky scrapers. that one's in body to the engine of chinese economic growth. also coming up on on, comfortable truth, why the you is buying more russian l n g, than ever before. to this the state of the business on kate ferguson. the thanks for joining me. the crisis within china's property market is deepening as the

country's largest private developer. country garden inches towards a default. the real estate side missed a key interest repayment on wedding state. fueling fears about it's longer term ability to pay back from $17000000000.00 worth of international loans. and potentially leading to a states similar to advert crohn's, which filed for bankruptcy in new york earlier this year. china is property sector tends for a quarter of its total economic output. but slowing population growth drop in spending of a government clocked on on risky landing practices, have loaners the sector into crisis. the result, individual home owners fixing on property is declining in value developers with more units, then they can sell it's a common site. don't shiny sidewalks, these days, realtors, advertising apartments and self made signs. the problem no one wants to buy that

can show who an hours drive from. badging. massive apartment buildings stands like concrete skeletons, 20 floors high. these apartments are supposed to be sold in 2020. some customers bought them as an investment, but only about 10 percent are currently used. the trains are moving cuz trucks and debris is everywhere. buyers in china usually pay for their apartments before they're even built finance by mortgages. but now around 100000000 apartments. so standing unfinished, the end of a real estate public. that's up prices, rockets, sometimes double. now with the chinese economy in prices, the bubble has burst of the costs isn't of ending. our total sales have dropped to less than half of what we had seen in previous years since we've been construction . that's all. but these height is in stock and starting to hockey, the relisted sector accounts for

a quarter of the chinese economy. no wonder business there is highly sensitive. we're on our way to find out more when the police stops us, we have to show our passports and answer their questions. at last, we're allowed to proceed to see some finished apartments, the owner so desperately trying to sell that before prices drop even further. real estate as an investment is no longer attractive. each 40 percent of all apartments used to be bought as an investment to dates only 20 percent. the rest, just for owners to live in confidence and the sector has evaporated as china is struggling with a weakening economy so much that the country is being seen as a risk for the global economy off wednesday. and the steering germany to we will feel the effects of china no longer importing, like they used to fund out china doesn't need to fear an outright recession. and yet, the consequences of the realistic prices of the social fabric of china,

a heart to 4 see now to some of the other global business stories making news. the eu has launched a probe into social media giants mess on take talk, seeking details on the measures they've taken to columbus and legal contents of this information off of our mazda talk on israel investigation is an application of the use new digital services law. similar pro is underway again, social media platform x formerly towards your to stay on topic building their entrepreneur. i must comp denied reports that he is considering pulling x from the u. that's after report and business inside are suggested. he was open to removing the platform from the block due to regular treat pressure regarding the spread of this information. netflix has increased subscription prices for customers in the us, written on from the added income will be a further funds to the company. which post is better than expected pro, thanks to a crescent on passport sharing on the study flow of new programming in the last

quarter. nokia is to come up to 14 size and jobs as part of planned to lower costs, following a plunge, and 3rd quarter earnings to finish telecommunications company play, and slowing demand for 5 g equipment and markets such as north america and europe earlier this year. and lucky is rival erickson announced plans to layoff 8500 employees since the beginning of the war in ukraine, the european union has radically reduced is in 4th of coal, oil, and natural gas from russia. in fact, the block stays in the goal is to eliminate all russian fossil fuel in ports by 2027. but there is one, a glaring exception to this trends liquefied natural gas or l n g, which the e u has been enforcing in record volumes from russia to don't use duct power report as an embarrassing sight to the

e. u. the block is russia's biggest customer of liquefied natural gas buying over half of the country supply and the 1st 7 months of the year. that's with over 5000000000. yours potentially sustaining the kremlin small chest for rush rates means that european union and countries which basically are purchasing a russian gas. basically they are helping to finance of russia budget. and at the same moment the finance rushes, aggression and, and, and, and war against you. great island g is natural gas, which is being turned into a liquid form to be transported around the world in ships. rather than dime pipelines. it's $600.00 times small, the in volume. most of the russian l. n g entering your of and says ports in belgium funds in spain. but it doesn't all stay in your at the cargo is moved from

washington either to another shape or to a storage side in the border. and then it is saying that these botched uh some whereas uh either europe uh or towards the asian markets. uh. ready the middle east that it depends, much of the gas stays in your so, and it's delivered to the e. u. nation's pressure, as mine did on your p in ports terminals to stop accepting russian l. n g impuls flux ease which runs the terminal in belgium. zebra good ports told dw, that based on a principle of open access is an essential service. meaning, make comp legally deny any client access even russian shipments who has already sanctioned invoice of russian oil and coal, greatly reducing the quantities coming in. i suppose we've spoken to say that in television you decides to science and gas. those impulse around likely to get done in brussels. the european commission says one's ellen g purchases from russia to end besides the overall gases island g. i'm pipeline full of the time from 40

percent before the invasion to 15 percent. now, you know, some companies are tied into long term contracts and we've been cars them to, to bring those to a close us as soon as possible and to not renew those. um, so yeah, i mean the political message and the commission is very clear the sooner we can get rid of the russian at n g impulse, the better. but that will take a little bit of time. so the you have celebrated, the fact is managed to get gas storage to 90 percent with the winter coming with a chunk of that has come from russia. to tell us more about this, i'm doing that by carl nacley assigned her and ceo of crystal energy, a consulting group. she's joining us from abu dhabi. how i want to understand dispatcher, how important is ellen's e for the you? in general, i and she has said to you from it'd be cries is not here because they use

additionally used to rely on pipeline gas, which is a very rigid infrastructure because it's con, next one supplier with a specific point that is the customer. but, and she gives big stability to boys and she's a producer, as opposed to him because she wasn't the case of the used to in the crisis happened last year and rush, i caught up with supplies gas supplies to do that, you buy price more. we found it and she said the day yes, price has increased, but was that pro signal that was necessary to attract these additional supplies. and then she and towards the also of last year was still and, and she said curse viewing at some quotes in europe to the liquid, 5 natural gas to very important market. that is it you, so i think was out and then she would have seen the price is much higher last year in europe and because we'd have lost it much longer. okay, so we know that l m g is really important to the right. now what, what site is it's 2nd largest supplier after the united states, given that the,

you does have a big and reliable supplier in america. why has it been buying more from russia? what to do used to be unimportant stuff going on. natural gas due to the use of course it's changed so dramatically between 2021 and $2022.00 to what we know cost on gas shrunk a lot. this amount was able to compensate it was set the next best buy and then she know, of course, you might say why was sent by a and she is the case or to the needs of the local market and the difference between images and 5, that is that you can get it from different sources, but you have to dig into cost duration. what is available out there. it's not easy to open the top and close the top and establish some of the ship and then she to a market. so most of the energy that use to trade it today, it's usually constructed between the producer of the customer for many years to

cause it took me about 15 years or 20 years. there's a smaller proportion of an end sheet that this child did without this number to the contract for the course part. and she and fuel may or didn't have that's for energy at the u. s. as the main wants, but very few around the engine i shot is stepping is to take advantage of this flexibility, the better. and she is giving to europe and the need for energy and the you to tell nato of crystal energy there. and you can watch a longer version of my conversation with her on the dw news, youtube channel. and finally, sports utility vehicles or s u, v. 's have a reputation for being mazda of golf golfers. but perhaps it doesn't have to be that way. take a look at this. students as idaho university in the netherlands have created an off road vehicle entirely powered by rooftop solar panels. the one size into columbus are test drive across morocco was completed for the out. the vehicle happened to

flows in one with a top speed of a 145 kilometers per hour. this stella, tara, is the world, 1st off road. so there via the reminder of the top business story. we're following for you this, our china as largest private property developer country garden is entering towards the diesel, the real estate. so i missed a key interest repayment on wednesday evening sir, is that it won't be able to service any of its $17000000000.00 foreign drops. if i show for more, you can always check out dw com slash business. we're on the dw, use youtube channel, as well, from me on the entire business team here in berlin. it's by taking the

ready for an underground up great big data and quick instruction side of the vin mom's belt, the tunnel. this 18 kilometer mega project will connect germany to denmark, for 8000000000 euros, a real deep sea novel made in germany. next, on the w. my robots become our friends. might we fall in love with a machine? for scientists around the world, it's just a matter of time. they are developing part official intelligence with human sensibilities. my avatar and me out a i pertains consciousness. in 45 minutes on d. w. secret lie behind being discovered

with benches in 360 degrees and explore. fascinating. both heritage selling d w world heritage. 360, now the, the sustainable eco conscience green walk into any store on your bound to hear or read these words. business has become all about being green. that includes brands and consumers, but it's everything really as green as it may seem. for exam.