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tv   Business - News  Deutsche Welle  April 16, 2022 5:15am-5:31am CEST

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travelling with have returned to germany, you can expect an intense debate to flare up in the weeks ahead, but they don't have that long to decide. next month, the buddhist talk to parliament will have to vote on whether the mission will continue. or you're watching d w. that's it for now, i'm told me all lottie book many thanks for joining us with issues with all civil, crazy people. sometimes a seed is of all you need to allow big ideas to grow. we're bringing environmental conservation to life with learning packs like global ideas. we will show you
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how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing, download it now for free. oh, china is businesses are sounding via law locked downs and major cities like shanghai, i'm pushing companies, i'm supply chains to breaking point will ask how long china can cling to it. 0 cove, it policy and india is unwillingness decide against russia has irritated allies in the west will take a closer look at the developing trade relationship between daddy and moscow. this is data be a business on robots in berlin. well, to the program,
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chinese businesses, a warning of the severe impact of shanghai is prolonged lockdown. carmakers say they may have to hope production with their suppliers in the city. unable to produce pars varsity 25000000 residents have been kept mostly at home for weeks. now as the chinese government maintains its social 0 covey approach to pandemic restrictions, shipping giants are also warning that the shanghai locked out. a snarled up, the world's busiest container port. let's get more on this from resident china washer. clifford caitlin. clifford, thanks for joining us in the studio and just tell us what impact is there a covered policy is already having and is going to inevitably have on supply chain . we're going to have a major impact on what we're seeing now is that there's a lot of goods that are just stuck in china. they can't get out. i mean, if you want to get your goods to export them, say from the port near shanghai. you can't get mad because you can't even get the drivers to come and bring your goods to the ports. so it's
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a huge logistical issue at the moment that they're facing. and some analysts are saying that it could cause the logistics now that would make them be even worse than last year and the year before. so it could be very serious indeed. wow. even worse than what we've experienced in vascular yes. because the knock on effects of that have been extreme and a space all of this together, it could that have a potential impact on how much people want to trade with china and how they want to involve china in their supply chain. yeah, i think i think people are thinking and you about how they are sourcing products. i think as a combination of covered under also the coven, 0 coven policy, and also the, the war and ukraine on the way china has kind of tacitly supported. that means that people are suddenly exposed to geopolitical risks that they, that they weren't a year ago. and i think people now are looking at even companies that have big, big interests in china like v w, which is still very much commission to china. and it's, it's building a lot of m e vehicle plants there and batteries, plants there. but it's also boosting it's spending in the u. s. for example. so i
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think the sort of knock on effect from these is quite serious. you know, we're seeing a spreading into, into other areas beyond china. what about the knock on effect for chinese economic growth? because siri, this is good to have some sort of impacts on with this. you know, the never ending growth that we've come. so used to, i think so to i mean growth is slowing. i mean, we've spoken many times about the property market, for example, in china, which is in trouble with ever ground the. the fact that is so heavily indebted, but you also have the power prices have stalled for the last 2 months, which means that there's nobody coming from the property sector and you're talking about $87.00 of china's largest 100 cities are affected by the 0 over lockdown so it has to have an impact the areas that are under locked down for 40 percent of g d p. so as yes, the government is looking at 5 and a half percent growth this year. maybe they'll meet up because some areas are proving surprising. the resilient but at the same time shops are closed in shanghai,
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you know, the only stuff that's being, that's getting out of stuff that's being delivered. and we see like air traffic is down 70 percent on, on a year ago. so there's a lot of these areas, the economy that have been very vital towards recovery and china that are suddenly again in trouble. i find interesting is we are hearing from chinese companies and we hear from hallway and we're hearing from comic is saying that you know, that this is eric of it is putting pressure on them is quite unusual to hear any organization within china speaking out like that is this sort of pressure going to be enough to change the policy? i think so, i mean there are some signs and we've had a government that is going to work with 666 companies to help them get through this . but it's basically where the political and economic are quite separate as you know, as always in china. and, but it could be that the pressure, if there's a threat to stability, they will have to intervene in some way. so we have to see now what, what they will do in terms of sticking to this 0 coven policy,
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or whether they allow economic interests to come 1st. ok, clifford can, and thanks for staying across the force. now india is recent purchases of russian gas. they've caused friction with the g 7 nations leading sanctions against moscow . delhi has thus far struck a defiant tone against warnings from the u. s. for example, but how sustainable is its position? india has maintained close relations with russia for decades. the asian countries, not just a key customer for russian consumer goods, but weapons are also high up on the list of imports, especially our craft tanks and frigates, 60 percent off in the us arms and ports come from russia. india hasn't sanctioned russia over the war and ukraine. quite the opposite. at the end of march, new delhi seized the opportunity to buy a russian oil edit deep discount. and as considering further orders to spite calls
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from the u. s. not to do so. if you're looking at energy purchases from russia, i would suggest that your attention should be focused on europe. i suspect, looking at the figures, probably our total purchases for the month would be less than what europe does in an optimum. russian gas, coal, and cooking oil could also be exported to india. soon. foreign minister sag a lover of sought to strengthen trade chives. when he visited delhi at the beginning of april we will be ruthless library. oh, goods wish you knew was the word. preferably, pate, an indian rupees, are russian roubles, lover of edits to help break the dominance of the u. s. dollar, maintaining a partnership with russia while not alienating the west. it's going to be a difficult line to tread for india. well, let's get more on this from our correspondence in delhi sharika to k, he can explain why india is so keen to secure more russian fossil fuels. all
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prices have been going up significantly. there have been at least 13 odd price hikes so far. the prices offer of vehicle fuel have gone up and petrol and diesel as well as c n g. and these always tend to have a desk aiding effect on the economy because of the, because of the transportation costs that is involved in transporting goods from one part of the country to another. so often these lead and as they are leading right now to arise in prices of other commodities as well and especially food. so that always becomes a pressure point for, for the government, because then eventually it, but when it, when it comes to sort of a boiling point in places, then protest begin. so far, wide spread protests have not been seen on the streets of the country so far, but then the opposition parties, they are riled and they've, they have they,
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they've been organizing symbolic protests against the price of that. of course, a very tricky situation for the government to handle cherry party k then malice take a look at some of the other global business stories making the news. the euro is near a 2 year. lo, after the european central bank remained vague about when it will raise interest rates on thursday, the c b left. it's key rates and stimulus fans unchanged in the face, record inflation as the war in ukraine. cast a pool over the euro zone economy and u. s. officials say hackers, backed by north korea, stole $615000000.00 worth of crypto currency from players of the online game. actually, infinity last month uses can earn crypto currency through game play the f b. i says, a group called lazarus believe to be controlled by pyongyang. intelligence service is behind the high. now brazil's state oil firm has named it's new c. e o joes, a maru, co l u well lead petra brass becoming it 3rd boss in just every year. after his
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predecessors clashed with president bosa, narrow oil is strategically important to brazil on the one hand day wants to capitalize on the high price of crude. on the other, it also needs to secure supply. the price of petrol rose nearly 28 percent in the year to march. it's causing problems across south america, which is why countries like brazil are betting on a rapid rollout of new oil platforms and fracking facilities. just a few kilometers off brazil's coast. there are plenty of oil platforms in the atlantic ocean, semi state owned company, petro brass together with its international partners, is extracting oil from beneath the sea bed. it's an expensive operation, but the sharp rise of oil prices due to the war in ukraine has made this oil field economically viable once more. if you want me to browse the brazil could export more oil in the short term. but of course,
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this is only possible and if it doesn't lead to a shortage of gasoline or diesel in brazil itself, it's important to remember that internal demand has to be met 1st pop up in the library more to produce a deposit damage. further south in argentina, why the world's 2nd largest shale gas deposits production by fracking could theoretically be doubled to replace russian gas. but that's not possible at present because argentina isn't prepared for the volume. really, molly, i'm good at the origin. tina's problem today is the lack of infrastructure to transport and export crude oil and gas, for example. and there are no pipelines to bring the gas from the fields in the provinces to the port gina intelligent tina hasn't invested in the necessary infrastructure with the country can hardly step in to compensate for oil and gas from russia, at least for the time being. oh, not a bit made. okay,
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but there are lots of blue, st. andrews, yes. in the long run, however, the extraction of shale gas through fracking will increase experts say, as new supply chains emerge, i might need a quote or change the oil and gas industry is now increasingly looking to south america to replace its current imports from russia with the west supply chains, i diversifying and may soon include argentina, brazil, and venezuela. brazil has already announced plans to increase its production by 70 percent over the next 10 years. you're just have her remind her of the top business story. we're following for you this how it, chinese businesses all wanting on the severe impact of shanghai is prolonged, locked down. the cities 25000000 residents have been kept. mostly at home, the weeks as the chinese government maintains it's 0 coven approach to pandemic restrictions. shipping companies, ross,
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i want that the shanghai lockdown snarled up the will, busiest container. so from the business team here in berlin, if you won't pull from us to head over to our website, d, w dot com slash business, you can also find us on the d to we and use youtube channel or on facebook as well as d, w dot until next time ah is math way more difficult can space? oh, we ask mathias smell on the international space station. we are curious to find out more. how do astronauts deal with weightlessness? and why is food and space actually spicier? today we are taking off tomorrow today on d. w. the morning of september 11 in new york,
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