the chinese shoppers created this year's edition of the world's biggest retail events known as singles day with less enthusiasm than they have in the past. retailers reporting that online sales rose 2 percent as compared to 2.9 percent last year. and us, despite huge discounts by major platforms. this year's lat, cluster sales figures become a mid concerns that china's economic slowdown is persisting and that household spending remains dampened. a retail activity has recovered since the cobra 19 pandemic continued problems with a how the housing sector did pocket books still today. now paging may need to do more to spur the chinese economy. that's at least what some analysts are saying will phrase or how he is author of read capitalism, the fragile financial foundations of china's extraordinary rise. rays are good to have you. back on the show. singles day is a bit like black friday. it was at one time a day of rebates. now it's weeks long. i believe. is it

a gauge of where the chinese economy is right now? um, well of course it is. and a big event. it's a, it's been pushed by ali baba the big uh, uh, internet companies burn up for you know, but it actually, it, this is a major event of trying to push make that big sales day. and it's largely fall and flat. it has the 3rd slight games, but their numbers at all was a bit dubious. you're never sure if that's really what was sold at the end of the day are right. that is just what was booked. and people have in place and those numbers because the talking good slater, but it certainly shows that your deport find did i, that caught me is probably we that consumption is not strong. and i think it probably is not a bad reflection of where the economy is, frankly. so we've seen that um, as you suggested, some major retailers including j. d dot com and alibaba refusing to share their sales figures from it. others show me saying that they still record sales actually of handsets. you mentioned the chinese consumption being down right now. that's

what we've seen with this event. what is driving it down? what is depressing consumers when they reach for their pocketbooks? in this case, look that there's a whole slew of fishes. obviously one of the big drives on the chinese economy is the property market, the peoples i see, would you mind if i sold well was in their property, they were just the property is going up and having multiple properties and i property prices out of best spot but really are falling and the market is largely so you stop. so there is a feeling that people are not getting restrictions. the work that are plenty of layoffs across the country that our plan to off um, solid either adoptions, etc. and you also have a large body of the younger people who are there, but it's called the wind black, which is refusing to take part in this a consumer modern day, right? race offer, you know, very long hours and, and consumption, etc. so all, and it's a very lethargic economy and it's going to take an awful lot to try and boost that again, especially after cobra, which basically was accurate shocked to the system. at the same time,

we have seen that the chinese economy, big growth expectations in the 3rd quarter is that not a sign that things might be moving toward a more positive direction. as i'm flicked, i think i explained that meeting expectations by a little bit. i wouldn't get too, too excited. ultimately property being a cartridge. the economy is such a big problem. it's a, it's a real millstone right in the economies net. and that's going to be a problem. it's going to be overhang, calling me for years. so, you know, some carts or something months are going to be some expectations. bags make decisions are very low. i'm fundamentally you have too much or you have to a little off the national well going to are you sold. so it's very difficult to see our consumption is going to be boosted or is really going to pick up. and hardy souls are not getting their fair share. we've heard these calls for stimulus with the best stimulus, 5 aging, perhaps not be to intervene more in the property sector. would you expect that to happen? i think that's very unlikely. i think they will intervene so, so i'll take the worst, the worst falls are some crisis like that,

but as best they can. but ultimately, one of the complaints or bites of the properties, thanks for, for years from the park is being an affordable property. is that they talked about property not be for speculation, but for, for living in. and yet, chinese cities are basically the world's highest price, the income ratio of properties. it's 3 times more expensive to buy a property based on your income in shanghai that has a new york. so on that basis it's very difficult to see either party is going to be actively propping up. prices are trying to drive them higher, they want them to come dine, they don't want to shock collapse. right? that's trying to enlist fraser, how we faced with. thank you. shifting gears the world wide race to build cheaper electric vehicles is also race for critical minerals such as lithium, cobalt and nickel for companies. that means securing new deals with new suppliers. and sometimes that can lead to trouble or next report takes us to morocco and new

allegations of labor and environmental violations at a cobalt mine that supplies german automaker, bmw, of the was that in minus southern moral. cory is where b m. w, a sources cobalt worth 100000000 euros for the selected car batteries repeated. why are they? sions of worker protection have reported they occurred to year 10 former and current workers are made acquisitions against the minor port. right. as the german media outlets, citing issues such as chain contracts, lack of respiratory markets and diseases leading to dismissal. as it says, the, the, this is the mine is a source of problems. vehicle. it causes auto g. c does loans and other diseases triggered by our center, and that is on their lot us when they toxic arsenic, the byproduct of coal. both mining also appears to be causing significant environmental issues. samples taken below the mind indicate that large amounts of

authentic had ended up in a body where people, if they hadn't hold the center for environmental research and marketable, analyze these samples. this company he started. hi janeth, you called everett determining such a high amount of are sending you know what your sample to hop, the minor parade to rejects old accusations claiming got here is to all international regulations vice with these findings, bmw, when he is now demanding a comprehensive review form it supplier a spokesperson for bmw, told george developed that the company is investigating those allegations of environmental and labor standards for labor violations, i should say, and would require immediate remedies. should the misconduct be proven? let's go out to some of the other global business stories making headlines. a major australian ports reopen monday, following a cyber attack last week. operator d p. world ticket systems offline friday. after detecting the security breach that disrupted operations at its ports, which handle some 40 percent of australia's freight train,

you wrote expects further disruptions in the coming days, as it investigates the breach and shows up in the system since the middle east. biggest airline everett's announce the $52000000000.00 order for $95.00. boeing aircraft on monday. the biggest sale so far did you buy air show? the order comes just as ever. it's group announced record half your profits of $2700000000.00. german automotive supplier, continental is planning mass of job cuts and it's auto division, and a bid to reduce costs. it will flash around $5500.00 jobs worldwide. it's about 5 percent of its global workforce, around $1.00 and $5.00 of the effect of jobs are in germany as well. southern spain has the customs, a warm, dry weather, but not like this year. reservoirs are threatening to dry up. that's how bad recent droughts and heat waves have been. the oranges and other money crops are taking a big hit, but farmers are trying to adapt. take a look,

the dried up and even touch the bits of picture of the orange plantations between quoted that to them is already clear that the farm is, would not be able to hub is the 1600000 tons of the previous year. jose fernandez the header dia on the way to his plantation, which is experiencing extreme drought the to get to right. let me tell you a little angry how you, i planted and grew to me that will happen. i don't me that, you know, i'm so sorry. missed, i'm like this, get me out a lot of times and fortunately mirrors i've never seen them as bad as i know i saw not kidding. okay. and those are areas here that have no oranges at all here, but i saw others help me out. you the head on hand it as, but the owners are very small. many are not even good. the use of the read me pass

through the tree should be in full bloom, reliable the child out of all by the the main data files of families need water for that crops. but does it look at the central reservoir shows? it's not coming, only 10 percent of the lakes capacity remains experts and now trying to be better prepared at least for the next round. and so eat up what time the me doing up front of the water. so the guy came here to meet then, i mean, well not, i mean some more story. i want to build the other locate, but i see the putting do you have a lemon? we have to optimize the use of water. let them in the unit to tell us each now. so when i mean what i like it to you, this request special senses on this thing can north of seville, they already show how much moisture is in the soil. and they measured the diameter of the trees. if they contract, the oranges need water. a small,

if you can do the 20 percent more efficient, another pharmacy android. so, you know, when you buy the paralegal, but you're saying, well, we know when the and how much winery newman see a good way it will come either available. this knowledge is crucial for adapting agriculture, climate change. but this alone is not enough to make the south of spain viable witness from the same as it goes. but i didn't mean either you do we have those done with the interview again, what are the doctors of the management on water? so you told him we absolutely promote that cold evasion on on, on your day is going to use again one more time. many to must try to find a solution. in general, we have different measures. the technology will help us get by with less water for longer. and finally, we ins with a different kinds of auction in japan, not fine art or jewels, but crafts. there's no crap issues. season has kicked off and depends to 20 prospector strictly marked by the 1st auction of the season. of the event featured

for exceptional snow, crabs rented it suki bushy for the outstanding quality one crab alone fetched around $18000.00. that almost triples last year's top did this new record price is thanks to booming demand from restaurants and hotels. the season runs until march 20th next year with more high stakes auctions. expected until then. right. that's it for me and the dw team, you can find out more about these stories and others online at the w dot com slash business. you can also check us out on youtube. under the dw news channel obviously can barely invalid. it's watching the

they had in license to coax the inventiveness of secret services during the cold war, no bounds. even films served as inspirations to the next edition in the balance by museum reveals this new tricks used by secret votes unveiled in 30 minutes on d. w. the intelligent life save as quickly delivering important medicines to the destination. they do not see a gas poisoning nor explosion. they also liked to clean up lucky wilkins. 10 roosevelt saved the quote. robots to the rescue. in 75 minutes on d w. but we'll tell you the

story. we have a getting a visa is more difficult than finding gold hosted to use the sales force and for the future feelings about what's going on in the industry. instead of being discussed across the continent, dw, and use africa every friday on d, w. world in progress. a pop calls to everyone who wants to know more about the topics that concern us. about the stories the on the headline was back inside in depth interviews and see the world in progress. the w of the

business dw news live from ballad struggling to save lives for hospitals and goes up unable to operate was health organization says molden toughest strips medical centers. i'm not in working with that. it says this field sufficing taking place near many facilities. a surprise come back to british politics full of 5 minutes that david cameron returns to governments as the new for administer in the major cabinet re self.