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tv   Business - News  Deutsche Welle  January 12, 2022 2:45pm-3:01pm CET

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a keen interest in seeing stability in the country, which plays a vital role in regional trade. we'll discuss why the gym and shipyards have filed for insolvency after that. hong kong has ran out of money. now the finger pointing has begun and the going is good for gold prices have been rising for the past 2 decades, but we'll look at the illegal mining industry that's built up around it. is the seat of a business on robots in berlin. welcome to the program. the world has watched on with concern the last 2 weeks have seen the worst violence in cassock. stan, since it gains independence from the soviet union 3 decades ago. the countries importance in terms of raw materials and trade, has made the unrest of particular interest to europe and neighboring russia, and is massive neighbor to the east. china is also watching closely the core gross logistic center on the chinese contact porter shows how important kazakhstan is for
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china. freight trains set on from here in the direction of europe. cor gross is of vital link in china is built in rude initiative. and kazakstan as acted as the secure transit treasury for european market. china also relies on kazakstan for raw materials. the country has launched deposits of copper, uranium, zinc, gold, coal, and oil. the more than 2000 kilometer long pipeline from the caspian sea pumps. 20000000 tons of oil to china. every year kazakhstan is also an important transit country for gas from truck men is stun. no wonder china is interested in its neighbors stability. while china is willing to increase cooperation with kazakhstan in law enforcement and security, yet at the job maintain the security of the political systems and regimes of the 2
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countries prevent and oppose any attempt at cover revolution. and jointly oppose the interference and infiltration of any external forces in order to ensure the major cooperation between china and kazakhstan goes on, safely and smoothly. and in addition to the economic ties, there are sensitive political interests that play kazakhstan quarters directly on the chinese province of tion. john, the muslim minority of riggers living there is, according to the assessment of many oppressed by china and forced into camps many of connections. the kazakhstan, the current unrest in kazakhstan, spilling over the border, is something that china wants to avoid at all costs. well, let's get more on this from our residents, china watch a, clifford, karen, and clifford great to have you on. and i, the started this, china was talking about what was happening in kazakhstan as an internal issue. but
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since then it has become a bit more vocal talking about economic support sending and possible security support. why we seeing that change from china? morning rob, i think china has several priorities here. the 1st one is, is, is energy security. it's an obsession with china as well as with most government. and how's that sound is a key part in the ensuring that china has enough oil and natural gas. one 5th of its natural gas comes from context on or through cars next on bad quantities, but all are coming through there. so they need as much stability as possible there . and i think another thing which change them is the fact that russia intervened. russia and china hubs, what you'd call it best, a fractious relationship, but at the moment it's a salo does. it's going to ever be on there. i think the fact that russia was able to intervene meant that china was able to be a bit more vocal and how it felt about what was going on there. and also,
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as it was mentioned in the word, the word in the report, the words color revolution can have a chilling effect in china because it's always afraid of a popular uprising over throwing power. so once overturning its government in china . so once you have words like, dash, i think china is going to step up the rhetoric and i think that's what we're seeing here. there is a key strategic position there, collect some codes particularly for about and rose was the potential impacts of bells and rows of this well, the borders near the 1800 kilometer long with, between china and cause exxon. in many ways, china has been delta funny, geopolitical hound. it's got so many borders in the region. and bells and road is part of a way of obviously spreading chinese influence within those bordering countries beyond. but also in as far as it can in ensuring economic stability in those places. or ensuring that it can habits economic influence in those bordering
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countries. and i visited course also a few years ago, which is one of the towns on the border between complex down in china. and it's amazing to see just how much trade goes through there, and how much is going back and forth this far as europe on trains and phrase. so this is a key part of chinese belgian road initiative. and it's going to do to make it keeps particularly the closest neighbors like target start like how it looks down and the other neighbors that can keep them as close as possible and closely matched the bells and wrote initiative. okay, clifford can, and thank you very much to bring us up to date on that. clearly a lot of potential knock on effects for china, from situation and has extended the moment next, the blame game has begun. after 2 german shipyards declared bankruptcy this week, they declared themselves himself and after their hong kong owners failed to reach
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a financing deal with germany's government. every enormous uncertainty for the size, thousands of employees and the project projects they're leaving unfinished. the global dream has room for almost $10000.00 passengers, but it's a dream that might never come true malaysian owner again. ting was set to spend 1500000000 euros on the ship, which is 3 quarters built, but now canteen can't service it sloane earlier. this week, m, foul belton, the german shipyard building, the global dream, filed for bankruptcy to the shock of its 2000 employees. the pandemic has up ended the truce ship industry, with implications for the entire holding company. for getting beer, heart profits haft in 2020 and the news wasn't any better in 2021. jennings, main business isn't resorts and casinos. it's also dealing in agriculture and real estate. the company's crews business is listed at the hong kong stock exchange. and
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it's in serious trouble with hopes for a rescue from the german government dashed. it's been looking for an investor to take over so far without success. well, let's get more on this from our correspondence in, ty paid some hon. so thanks for joining us. can you just explain to us how getting shit, boating business in germany has ended up going bankrupt midway through this mega cruise project? or off that 2 german shipyards were bought by a yen ting, hong kong to build 2 vessels, global drink, which is now 75 percent complete. and one that has not been named and built plans were for the global dream to enter service the last year. and the other this year, they haven't yet, because of the covey restriction, apparently it's financial health, rapidly deteriorated, and this led to insolvency. genting. hong kong weren't, it may not be able to meet financial obligations without the funds from the
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government and trading of yet in hong kong, i'm shares and the hong kong stock market has been suspended since friday. and the subsidiary and the shipyards had to file bankruptcy to secure. the mother company's finance. there appears to be something of a blame game between the german authorities and getting their each saying the other one is entirely responsible for what's going on here. and what are they saying exactly? all on a genteel hancock accused of the state government are not to be able to provide the subsidiary are for the rescue plan as they promised. but yet at the same time, the scape stay government also accused of gent, in hong kong of not be able to meet some of its demands. and from the federal government's level, it's the same, like the federal government asked the ent in hong kong to prepare some fund. 10 percent of the rescue funds that the federal government prepares to plan,
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but there are no agreements. so this where we are right now that they are blank ends and they're also like this on words and mouth. so it's not looking very good. this is obviously terrible news. fir, the people that work at those 2 german shipyards. is there any hope for them or we don't know what happened to the 2 vessels, which are now complete in germany, there is a glock to right now in cruise ships. we have seen the scrapping of cruise ships, non stop. unlike the 3 largest crews, companies that we know carnival royal caribbean and norwegian gent in hong kong doesn't have the ability to draw upon reserves and the collateral of a large arm fleet. and it warned that more defaults, due to the insolvency will happen. and it's a vicious circle and doesn't look very good. ok. some so in taipei for us, thank you very much for the update. now some of the other global business stories making the news. a judge in the us has ruled that the federal trade commission
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antitrust suit against facebook's parent company. meta john, proceed f t c. i'll case the firm has suppressed competition. it seeks to rein in meta possibly by forcing it to spin off instagram on whatsapp. phillips says it expect last quarter profits to drop by 40 percent, to 650000000 euros. it was hit hard by a recall of ventilators, respiratory devices during the period. and recent years, the dutch company has sold it's electronics business to focus on medical equipment . now if you invested in gold at the start of the millennium, you've had a good couple of decades. it's more than quadrupled in value. but with booming prices has come. a booming trade in illegal mining, it's an underground industry that is getting ever more sophisticated. yano. mommy is the largest indigenous reserve in all of brazil. it's the size of portugal,
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reaching far flung areas of the territory can be time consuming and complicated, so illegal. gold miners use planes to transport, prospectors and equipment. the price of gold makes the associated cost worth it. the value of an ounce of gold has gone up from $400.00 in 2002 over $1800.00 announced today. and so there are hundreds of little gold mine sort of emerged in the last couple of years. indigenous rights groups are angry and they say 20000 minors are present in yamani. the government says it's closer to $3500.00. with my intent is to at some point, obviously with a helicopter to land line in area. we are not going to arrest anyone. it will not be an operation to inspect the lead on mine, and i just want to talk to them in the way they lived there. so we can have an idea of how goals they extract with global schedule. since those comments brazil's
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environmental regulator, e bama has ramped up efforts. last september, it closed 59 air strips, bipolar copter pads and 3 river ports on the reserve and destroyed equipment by setting it ablaze. despite its efforts, illegal mining continues, devastating the land, the government is meant to protect and that's all from me on the been a team here in berlin for now. but if you do want a bit more from us, you can head over to our website's d, w dot com slash business. they can also seek us out on the d to we news youtube channel, and we're on facebook as well with d, w. dr. business until next time. ah ah, with
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