Box for its road its initiative its under pressure on transparency from western capitals they say struggling economies are being sucked into the project and saddled with debt china says it understands the concerns and is calling for suggestions prior to an international congress. With a week to go until thousands of delegates gather in beijing for a summit to celebrate developed and Road Initiative chinas singing songs of praise for the vast infrastructure project. The message on Chinese State t. V. Is the new silk road is a Glorious Endeavor Connecting China With Asia Europe and beyond state lenders say the new silk road includes Eight Hundred projects with loans of over a trillion dollars critics say the belgian road is the way to expand chinese influence they say countries could be taking on massive debts. Chinas leaders including president xi insists the project has brought real benefits for participating countries. I would like to stress
that this Partner Relationship is not a geo Political Tool but a platform for cooperation we welcome all sides equal participation on engagement. Over One Hundred Fifty countries will attend and thirty seven foreign leaders have signed up chinas allies like pakistan and russia will be there but also easily switzerland and austria the u. S. Is sending only low level representatives out of belgian Road Conference in the United Arab Emirates officials are bullish. Keen to beat. The Chinese Companies to use. To reach two different markets from. Some critics feel beijing is leading the world in a merry dance with some fans are clearly singing to the new silk road chuen. Well andrea hange is our asia correspondent in singapore cliff a coon and spent fifteen years reporting in china cliff it will stop with you lets
look at the numbers trying to spend One Hundred Fifty billion euros on the road sofa loans total around a trillion can we already gain some sort of sense if theyre working on a level Playing Field here with other countries well i think it varies from country to country but definitely people are the countries along the route are very are very keen to take advantage of the money thats on offer so they want to get as much as possible obviously and chinas going to possibly leverage that then to to have more influence in the area but a lot of these countries are struggling economies and they are being saddled with unsustainable debt in some cases yeah this is the big fear and this is one of the things that the critics have been saying about it on their own theyre worried about this what about this Congress Next week The World Bank is going to be there theyre the International Monetary fund surely theyll be able to crunch the numbers and they will theyve theyve said that they think its a good idea but at the same time they have warned about the debt issue that you mentioned about these countries being saddled with unsustainable debts so i imagine
that what well see is they will try to be supportive but at the same time they will also be keeping a close eye presumably on the situation for transparency is a big question andrea how does Southeast Asia view this project. Well ben for a lot of a nation the p. R. I. Is an extension of an already you healthy and robust relationship that we have that china and many of these are emerging markets that need the kind of money that china has but lately there has been a lot that have been a lot of complaints as to how china is leveraging on the b r i agenda a common complaints that include a falling into debt traps unfair. Contracts as well as diplomatic concerns with china gaining ground on territorial waters for example and what do you make of the participants of the countries that are attending this Congress Next week
well china already has its friends from asia japan and korea russia as well is going to be that the u. A. E. As weve seen is one of the leads us allies to follow for the b. R. I know its also extended an invitation to a new friend and its a close so then you think its a north korea chinas neighbor has been invited to attend the congress and they have confirmed that they will be sending a delegation next week and thats really interesting for what do you think about north korea attending i think north korea going is going to cause all kinds of problems particularly the americans who are sending just low level representatives i think that because of the growing closeness between north korea and. The us or terms of resolving the Nuclear Issue chinese keen to remind the world that north koreas its main allies so i think theres going to be a Big Geo Political Dimension to north korea going there sounds like some complications clifford thank you very much for coming in and andrea thank you very
much for your analysis now as ukraine prepares for an election on sunday a court has ruled the nationalization of ukraines biggest linda. Illegal and sent shock waves through the Financial Sector the ruling is viewed as a setback for incumbent president Petro Poroshenko in this weekends final round of voting. But every third ukrainian has a bank account here its the countrys biggest lender the news that it might be returned to private ownership has unsettled the banks customers. Before the bank was nationalized in twenty sixteen it had piled up almost Six Billion Dollars in debt the government bailed the bank out and nationalized it blaming fraudulent Lending Practices and Money Laundering by cofounder Igor Kohler Moist and other bank owners. As the country goes to the polls president poroshenko has ramped up a Scare Campaign with the bank at its center. One of the holes in the plan of one
of the oligarchy is to get the bank back in case i lose the election yes you can see they cant wait and they have already started realizing this scheme you know scam is a threat to tens of millions of clients who could lose their money it risks default in a new economic crisis for the entire country. Color moyse he was a political ally of president poroshenko until a falling out in Two Thousand And Fifteen which resulted in poroshenko dismissing him from the position of the governor of an Eastern Ukrainian province. Just a year later the Ukrainian Government launched Fraud Accusations and nationalized the bank. Of court ruled on thursday that the nationalization was illegal Ukraine Central Bank said it will appeal the decision over to our correspondent in ukraine it colony and nick i think its really interesting that this bank is actually one of the biggest supporters of this comedian voted mr lecky could that pose
a problem for him. Good Afternoon Ben Well Ukraine is a country used to Conflict Of Interest to put it politely this is a country that has seen its fair share of economic scandals involving politics in terms of the story well it doesnt seem to be harming william as olinsky at all in the polls if anything his lead ahead of Petro Poroshenko seems to be increasing but obviously hes competitor his his his rival president poroshenko is portraying this as. One of his priorities he says alinsky will come to power and give this bank back to his back. Give you one of the t. V. Channels that made Selenski Famous In The First place and it by observers to seeing this is a signal really of the courts taking one look at the polls and are convinced that he will be the next president trying to get ahead of the curve trying to not to do something that will get them in the good books of ukraines likely future president
what about the economic agendas of both candidates. Well thats the Big Question Mark here and weve this Election Campaign has been dragging on for months and weve had precious little in the way of detailed Manifesto Pledges im here in front of Kiev Lympics Stadium where the two candidates are finally going to come face to face tonight for a debate in terms of pushing for well he points to certain achievements there have been. Easing of the rules for the i. T. Sector for private Companies Small companies easier for them to do business abroad and pay tax easier to get v. A. T. Refunds but the critics would say nothing that really affects the vested interests the monopolies of the Ukraine Establishment Selenski talks about shaking things up modernizing ukraines governance bringing in more digitalisation but so far hes been pretty pretty slow to give us details he has brought a former Finance Minister into his team someone who has a reputation as being an economic liberal and someone who was
a london banker so there is a sense there that he might be bringing in new people new ideas but as yet he has yet to really put the real detail on the table again for us there in ukraine thank you very much consulted. Finally why put yourself through hours of commuting every week when you can live right there work in a dormitory its becoming a viable option for many Young Professionals in the philippines who dont mind the youth hostel feel. This is a tale of everyday madness anyone who wants to get from a to b. By bus in manila needs nerves of steel traffic is complete chaos its quicker to go by foot but then theres the risk of suffocation many people work in the financial districts of point five zero and mccarty most of them commuters. You know spend almost as much time on the road to work as they do in the office the daily commute
averages about sixty six minutes but can stretch up to two hours because of crumbling Road Infrastructure and a poor Public Transportation system now Living Spaces called dharma tales are a cross between College Dorms and hotels are cropping up across the metropolis offering a way to shorten the commute to work. Theres not much by way of pretty and its not cheap either about costs around One Hundred Fifty dollars a month even young people starting out on the Career Ladder Earning around Six Hundred Dollars a month after rentier people like zero zero zero s. The bank workers shares a room with three other women but now shes only ten minutes away from work she used to have to get up much earlier. Birthday am i with that bank prepared and then i should be able to leave the house before six am. Two hours. For the five minutes so. A lot of. Pressure. That would be almost six hours pick takes proper rest to build up a Fledgling Career which means more and more of these dormant tales are springing up there are no around ten thousand sleeping quarters in manilas financial district. Sleeping in a dog. Dicing business with. Hows
it feel of the world. Where i come from but over that cliff just go its just like with Chinese Food Doesnt Matter where i am suppose was reminds me of home after decades of living in germany chinas food is one of the things i miss the most but that taking a step back i see things that lead to a difference with knowledge plentiful its a purse as an articulation that exists the other part of the war which havent been implemented in china thats why you cannot have chinas people wondering if their foot is safe but if i have a ride to another poster that is this is the job just out of the my how i see it and others why i love my job because i tired to do it except it is an hour a day by day with the new tool and i work at g. W. Every
journey begins with the first step and every language the first word the most difficult the coaxing germany to be sure. Why not come with him. In simple mind on your mobile and free. T w z course. German maybe see. Do you know that Seventy Seven percent. Are younger than sixty five. Thats me and me and you. And you know what time of voices. Of the Seventy Seven percent we talk about the issue. This is where. The Seventy Seven percent this weekend on d w