reese says, and as fried because kills at least 50 people at the rest of the cast in lots of patients as if that's more than 3000 children. have sofa being killed in the bombardment of guns. that's it from me and the news team for now. don't go away, kate ferguson will be here with the, with use of a high level meeting on the future of the chinese at the office invalid the, to the in progress pop calls to everyone who wants to know more about this topic. the 2nd son of good about this story is the on the headline world in progress. the w talk cost. what do you see? it really is possible to reverse agent researchers and

scientists all over the world. for in a race against time. they are peers and rivals with one daring goals to help smart nature. the more likes watching it. on youtube dw documentary, the, the closed door meeting, but the good of shape, the future of china as the economy. high ranking communist party officials gather in beijing to discuss how to address problems ranging from the countries aiming properties sector to use unemployment. well for new x 1st analysis. also coming up quite decades old vehicles from the you are entering up on the street all out a business dw business

on tape ferguson. the thanks for joining me. the chinese government is holding a major financial conference in beijing and toppling some of the country's most pressing economic challenges. the national financial work conference takes place once every 5 years behind closed doors. this time leaders are expected to be discussing ways to address china is enormously invested. property sector, tackling unemployment and strength of the con, the government script on the countries. $61.00 trillion dollar financial sector. for more than this, that spring and andrew collier, china analyst at global forest partners, 8 macro economic research firm. andrew, this amazing takes place every 5 years behind closed doors. what kinds of decisions tend to be made there? well this particular meeting is a lot more important than other meetings they've had, because this is the 1st time that she didn't ping or any leader has concentrated

all economic decision making right in the center of the party system in the poly bureau. so we're all rather eager to find out what kinds of decisions are going to be made, and that's one of the problems. it's now become a bit of a black box to figure out what's going on since the this group is lot more important that the central bank or the, the csr see which regulates the stock markets. and so we don't really have a clue at this stage of what's likely to happen. i could make some guesses that whatever. but basically they're going to be doing a balancing act to try to figure out ways to save the countries terrible property market, which has been a driver of growth for the last decade. without us, we're spending good money after bad because so many property projects have gone belly up. so it's an interesting balancing act of for the economic group that's meeting. so let's talk a little bit more about that balancing acts in the property sector. we've seen the

demise of evergreens and the country garden is in trouble as well. how is the government planning on tackling this issue? well, they're not basically i, i think the attitude a cheated paying and the others is that they can't keep the property bubble going on. forever, so a lot of developers are going to have to go out of business. we know anecdotally that a lot of the smaller companies have gone under. now we're seeing some of the big ones go under. i don't think she can pin cares that much about these developers of the property sector. he's desperate to move the country into a new growth path. hopefully would something sexy like somebody, conductors or artificial intelligence or robots or electric vehicles, that kind of thing. but meanwhile, he's figures, if he's got to take the hit on the property sector, now he's going to do that. let's talk about another economic problem. china has use unemployment. one is 5 young people doesn't have. it's all we know trying that

has a demographics problem. it desperately needs young workers to support its aging population . why aren't they opportunities there as well? first of all, china has indulged in putting people in universities for the last several decades as a way to keep them off the streets. and unfortunately, the job creation is not kept based on the demand. second thing is in a campaign that started back in 20192020. he got rid of a lot of the gig economy companies. he cut them down to size the amazons of china. and the owners of china basically were reduced in scope and they were providing a lot of jobs for young people, not terribly great wages and the worker protections when so great. but at least it was something for people to do. and he's gotten rid of that. now there's a shortage of capital, so a lot of small businesses that would be shipping goods overseas or doing small you guys for christmas, for americans or british is they're having difficulty getting enough money. so

a lot of the small. busy businesses are running out of funds, so it's, it's a tough nut to crack, particularly given that he's doubling down the state system, which is really helping anybody this doubling down you mentioned, is this simply all about control, or is there a genuine economic strategy behind i? i think that it is partly economic strategy and partly control. um, i don't doubt that he's a true believer and in communism in the state sector, he kind of grew up with that and his model. and i've been told by people that that's the way he thinks. if he's going to, if you're going to turn back to your grab bag of ideas, state state industries is the way for him to go. so we spent a lot of money into big, semi conductor firms that are government own, that unfortunately are fairly and efficient. so he's, um, it's slowing the pace of migration away from property. and that's what really worries me because at a time when the airplane is slowly starting to fall, he's,

he's increasing, he's putting his foot on the gas to make it fall faster onto collier there. and you can watch the full version of our conversation on the dw, easy to tunnel, to distinguish china. we've just been talking about some of the country's most pressing economic challenges, but one area in which it is leading the way is in electric. hope it. let's take a look here to insurance and assign them to have profound public transport times formation is on the way china is the world's top carbon emulator. boosting electric mobility is one way to address the problem. in general, is the 1st city to eliminate. these are buses opting for the for the electric fleet . back in 2017. these passengers are at the forefront of a pioneer in shifting public transport. but she beckoned driving to use the electric buses is incredibly comfortable. the intelligence system has enhanced every also. it's simpler to operate and more environmentally friendly and to reduce

noise levels are not simple. it's a mock improvement. changing style blazing cleaned, public transportation moves set a benchmark for other chinese, mr. porter. since amy to transition, they are public transport systems entirely to electric by 2025. but china is still an outlier in clean transportation. the country accounts for over 90 percent of towards the electric buses and trucks as part 2021 data by international council on clean transportation. however, besides the environment of benefits washington's electric bus network, it runs with assorted consistency with buses taking minimum amount of time to recharge. specifically with the remaining 20 per cent charge. honestly, it takes roughly 92 minutes to fully to charge the buses to yeah, to the transition to electric buses, present it to an issue. challenges from unfamiliar technology to ensuring adequate

charging infrastructure has a limited range. according to the engines, public transport officials, the buses not match the performance of their decent predecessors at the beginning of the summer. with step by step, solve the problem. now we can say we almost have the same technical performance of our buses compared to the buses. in the past, these electric buses are produced by b y d, headquartered in the same city. china is rising electric vehicle giant showcased a significant growth in the chart quarter of 2023 for developing a 2 per cent increase in profits compared to a year earlier. sion janet jones formation into a beacon offer electric public transportation set, 2nd pending precedents. it offers a glimpse into a future where organ mobility and environmental protection can core exist. now to

some of the other global business stories making news for his energy giants. b p has poses a lower than expected process of $3300000000.00 in the 3rd quarter. the companies ness earnings were done from over a $1000000.00 in the same period last year. and the company for a significant jump office after rushes, invasion of ukraine, the mess own platforms, facebook and instagram are launching paid subscriptions. in most of europe that will remove from the platform. the option will be exclusive to people in the you european economic areas on the switzerland, starting in november and albania, one of the poorest countries in europe 5 is car ownership remains relatively low, but things aren't changing fast. decades old cars generally imported illegally from e. u. r no, a common slice on the roads aging. second hand cars are still chugging along the roads of albania. officially

e u emission standards requirements prohibit the in portable vehicles, but that doesn't stop agent 2nd hand cards i'm taking to the streets. on the outskirts of the capital toronto, this dealer selves imported cars from germany, italy, and switzerland. his prize offering mercy these 500 su, almost manufacture, year 1985 a 37 years of age the sold time or should induction be sold anymore? old cars generation a lot of air pollution or commercial inspections need to become more systematic. and now these, the lawmakers must also come up with a functioning inspection system. they should also include penalties for those who violate the laws. the emission standards are regular. however, that alone won't solve the problem. we really need a chain of inspections for old cars and their emissions here at old cars. they're mostly driven in rural areas where inspectors don't appear to

scrutinize bothers inspection stickers too closely. farmer barrier re, as car has already covered more than 250000 kilometers. he bought for the equipment of 800 euros 12 years ago. he doesn't even have an inspection sticker. it's not necessary once he's only driving within the community or in the fields he reckons for its parts. the government insist that it's made great strides and controlling traffic and air pollution. a new inspection center, the largest in the country, was built in the capital the impact on that, the in practice, it is about pop euro for standards for used cars and euro 5 or euro 6 standards for new cars with 0 kilometers actually being registered here for the 1st time where the bar headed the registration authority admits. however, the rules are not uniform, the enforced options, the countryside. people are quite pleased that the police aren't everywhere. farmer

barry goes to his spare parts dealer. this car should keep running for a long time. the semi solid who is the head of the family business, the stocks, everything used, car owners around here need roman book. here we are now pena. we have a problem of poor fuel quantity for old cars. do not pollute the air. no, not the tool. i know this because i'm an expert in this area. maybe you can put on my echo. but i, i love my car. however, he knows that the year of old cars and albania is slowly sputtering to a halt. but he intends to keep the business taking over as long as possible on that ross so far. so from where you can always check i d, w dot com slash business for on the delete news youtube channel as well from me on the visit. the team here in berlin is to buy the

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