So youre not even a bill. This isnt that. Oh, with a little Adrian Finnegan here in the headlines and i was here up. Hundreds of kenny and troops have arrived in the democratic republic of congo. That part of a Regional Force helping congolese soldiers in that fight against the m. 23 rebel group. Malcolm web reports from goma airport. I will. It says its to is thank you, coming here on a banner of an east african forced to support the congolese government at to fight on groups of people here waiting to see what theyll actually do when they get here. Kenya says its sending a battalion of troops about 900 men and women, which is a tiny number when you consider the vast territories controlled by armed groups here, including m. 23 ukrainians are celebrating in the strategic Southern City of care song after the retreat of russian forces. President followed amir. The landscape has hailed it. I story day. Keith could use the advance to expand its counter offensive to other occupied territories. Ukraine has joined a summit of Southeast Asian leaders for the 1st time. Its foreign minister urged as young members to condemn brushes, invasion, and help protect ukraines grain shipments. U. S. President. Job bipolar will also be meeting axial leaders in the coming hours. His visit to the region is aimed at countering chinas influence that democrats a one seat away from keeping control of the u. S. Senate that tied with republicans, but 49 seats. Democratic senator mac kelly has been re elected in arizona. County continues from nevada and georgia will hold a one off vote in december. The Crypto Currency Exchange f t x that when he says its investigating hundreds of millions of dollars of abnormal withdrawals as to clarence bankruptcy. The potential hack follows an earlier one on the exchange of to concerns over its financial health. F t. X filed for bankruptcy protection on friday. It says it wants Legal Protection as it looks for ways to return money to customers. Others, the headlines one use for here now to sierra after counting the cost coming up next. A new series, exploring how traditional knowledge from indigenous communities is helping tackle todays environmental catastrophes. We see how the melanesians people of the taurus straight of fighting, rising sea levels, which threatened to swallow their islands 1st nations frontline, the Torres Strait swallowed by the sea on al jazeera. Ah, i lie money in sight. This is counting the coastal now desert. Your weekly look at a world of business and economics this week, almost half of all European Investments in china come from germany. The chancellor ease on the pressure to cut back on business with beijing. But in this country too, dependent on the chinese market. Also this week, bleaches should pay compensation for the damage caused by Climate Change. That is the message from developing nations and the cult 27 climate summits. Bots will rich nations for the bell. While the world moves away from fossil fuels to save the planet, the tiny nation of guyana is balancing an oil boom. And its threat to the environment. Ah, the ukraine war, expose the risk of germanys decades long reliance on russian gas. Its been scrambling ever since to reduce that dependency. Now it appears the german chancellor has another problem, members of his government, the opposition. Im western allies, a worried about the countries economic dependence on china. Or la sholtes recently went on a controversial visit to beijing. Often even more controversial sale of its hamburg Port Terminal to a Chinese Company stepped fastened reports from hum beg after rotterdam and where if a Chinese State company, costco has bought a steak in europe. The 3rd largest port hamburg the Chinese Investment in one of the 4 Container Terminals were scaled down from 35 to 24. 9 percent off. The chancellor, all of sholtes came on the fire over the deal, but many in germany are still unhappy. I know id say about reform, the one hand they want to become independent from russia and on the other. Theyre given away something so important. I think that this has been a favorite project of chancellor all of shorts, who used to be met and pushes his own interest in not only shows his correlation partners who have warned against the deal this concern outside germany to people in brussels, but also in paris. And a lot of other european members, state capitals like there is, theres a lot of frustration and outrage of like, wait, whats germany doing like, why are they Going Forward this . I thought we were supposed to be decreasing our dependencies when were talking about critical infrastructure. And were talking about the nature of chinas political and Economic System and the nature of a company like costco. I think we should be a bit more cautious, especially now in a post russian invasion of ukraine world. The fact that china doesnt allow similar investments in its own ports has also been an argument against the deal for some nervousness about the chinese think. Here, germanys largest, katrina, ford showed company the fear that mistakes made will be made again, but so far the business. In fact, wales hamburg see it. It would lose competitiveness against auto european ports. Without cost goes investment the port was already struggling to attract enough business. Sometimes discussions are a bit exaggerated because there is a concern and, and its an understandable concern. What has happened in the ukraine. We take the concerns serious. They are minor from our perspective instead of what we can win as a society. And of course, as an economy like the german ones, but the whole europe as well. But other european nations have accused germany of putting their own interests for us when it comes to china. Step fos and al jazeera hamper. Lets take a closer look at the numbers. China is germanys biggest trading partner and the value of imported an export at goods where its more than 242000000000 dollars last year. That is, up by 15 percent from 2020 or than 12 percent of germanys total imports came from china in 2021. The Chemical Company b a s f is expected to invest almost 10000000000. 00 in its new plant in south china. By the end of this decade. And china made up 40 percent of volkswagens. Well, why deliveries in the 1st 3 quarters if this year. And so was the top market for other or to make as like, daimler and mercedes. Now to discuss over that time joined from london by klaus vist the son. He is the chief eurozone economist at pantheon micro economics. Thank you for joining the program, sir. How important is china to germanys economy . Well, i mean, is an important part is important part of germany is economy and its important part of the eurozone economy. And i think the most important thing to mention here is that its a child has become more important over time. Europe has become more integrated with china with especially manufacturing goods, but also in Overall Council slow. So china plays a big role, minutes, not the biggest role chairman, germany trades more with its neighbors in europe, the u. S. U k. If you look at, its sort of in total trade, i think, but still china is a big part and, and therefore im sort of this little tension which is also now along that a west china axis is sort of, its a challenge for your but is child is germany dependent on china off that because while china tops the rankings of germany trading partners, we also have the united states, france, paul, and other european countries, all representing between 5 and 8 percent of germanys total trade. So it does appear. They are quite diversified when it comes to trade, while they are, im and i would be now be wrong to say that germany is dependent on china in any way because of all the stuff that germany trade with china, especially on the input side that its possible they will be able to get that from somewhere else at least over time. But that doesnt mean of course that you know, a rupture and that relationship wouldnt be economically damaged. You know, jeremy is not dependent on china in that sense, but so how damaging would it be . Well, i think that theres an economic aspect here. I think that as far as the question depends on how quickly, right the, the severance of the economic relationship with russia, for example, the contact the war happened overnight or its happening very quickly. It seems like in this case with china, its something thats going to be a little bit more slow moving in terms of sort of what the economic relationship between europe in the west and china is going to look over time. So, so far its not something thats really i think thats sort of an, an acute. So economic hit if you will. But again, depends on how quickly it happened. Why is the chancellor sholtes going against the rest of his Coalition Partners to continue this love affair with china . Given the obvious risks weve been talking about why i think, i dont know whether germany has a specific love affair with china, germany, to trading nation, to trade with, with, with other countries. Right. I think thats whats happened over the last couple years is that its the u. S. Thats moved, right. I mean, the us itself has, as a strong relationship, economic relationship with china over time. And suddenly, now its selling the idea that you know where in, in, in an existential conflict with china, of course, it might, that might not be in your interests at this point in because europe is part of that western axes, if you will. So europe will have to go along with that in a way, so i think, you know, youre stuck with a little bit in the middle here in terms of tracking. She may be avoid tension but, but increase too much. But so in a way, i will call it a love affair. Its just, you know, an attempt to sort of preserve the status quo or not backtrack. You might be, your question is interesting, isnt it . Because i guess you could, wanda, how does germanys economic ties with china affect the rest of europe . I mean, why so much concern from europe . About sholtes is recent business trip to china. Where the concern is obviously that if you do, if you make it kind of like integration with china increases at this time where the political relationship has changed. And of course it could be a if you Political Risk element to this, right. For example, theres been a lot of talk about allowing china to invest in german, harper and hamburg, and that could be sort of maybe 34 years ago. Thats not a problem. But now with this, with the politics change, suddenly you know, that could be a, a challenge. Weve seen other examples of this, especially, you know, classic example with a little further back was that was always 5 g Infrastructure Investments in europe where some of the a lot of countries decided that while we werent allowed to do that, even though probably the years before you know, that wasnt controversial. So the thing is if its, its elements like that where suddenly economic projects and relationships that were on controversial suddenly being seen in a different light. And therefore, you know, it becomes controversial when we, when we talk about the German Companies that are exposed to china know, invest in china, do they tend to be certain ones in particular like the Car Manufacturers or is it a range of companies . Its a range companies, i would say that a big part of german manufacturing has some kind of relationship with china. This one either they sell in to try to factor in china or the import important and manufacturing inputs from china. Right. And as i said before, is part is depending on, on sort of where you are and that value chain and how big your relationship with china, you know, you might be able to, to, to, will increase yourself from that and go somewhere else. That was difficult to know. So before we see how quickly this moves, we can forget the china itself has had its own economic problems. Its had its very restrictive coping strategies. I thought for some German Companies to adapt to diversify away from china as possible. I think that a lot of western companies have been quite surprised with the, with the turn in chinese politics. And so the, an economics and sort of post cove, it seems like she is galvanizing his power in china becoming a little bit more centralized. And of course the serial cobit, i mean theres no end to recover it because youre always going to have a case somewhere. And that obviously has probably forced some companies, or at least some Companies Must be thinking about revisiting their relationship with china at least as far as further investments are concerned. You also have a real estate bubble that is now 1st thing in china. And so that also plays into yeah, i think they have, but of course john is still a big market, but still its a, its a, its, youre changing market in that sense, for sure. Given the uncertainties facing europe and germany, specifically with energy and Energy Prices and recession and so on, can germany, ford, keep to keep its distance from china . I mean, i would say over time, you can afford anything you can strike but, but in general, this idea that the west is now in a, in, and i sit in an extra special, comfortable trying to china now an adversary both economically and even militarily, perhaps thats just not from, from your perspective at this point in time, just, just not a very good story. Europe is not very well. So with that and i said is obviously knowing full well the years and ally with us. So if thats the road were going down, you know, youre only has one side here. Theres no fence in the end, but i think what were seeing in germany and its a reflection of this fact that at this point, thats just not a, a interest you are still has an interest in having some kind of economic relationship with china, even as china has changed something different, i think thats what thats that, thats what were seeing really interesting to talk to your class vista says chief your zone economist at pantheon micro economics. Thank you for your time. Ah, from devastating floods in pakistan to drought with an crops in east africa cop 27. 00 summit follows a year of extreme weather patterns. These disasters the estimated to cost the developing world more than half a trillion dollars in damages annually by 2030 and pull countries have been urging big polluters to pay compensation for the losses and damages that were worried. He suffered as a result of the extreme weather. Now until now climate financing, his only focused on lowering Carbon Dioxide emissions and helping communities adapt. But this year for the 1st time last and damage compensation is talk of the cop 27 agenda. And the report says, developing nations need one trillion dollars a year in climate finance. But rich countries have so far failed to even deliver on an earlier pledge to raise a 100000000000. 00 a year by 2020 to support developing nations in reducing emissions and adapting to Climate Change. And now of course, with the ongoing when you crane and the cost of living and energy crisis, guessing governments from develop nations to agree to these measures is going to be difficult. Joining us from london is kathrina helen brown, vons, an a, an shes the heads of Corporate Research and head clean tech at cobb and track it. Thank you for joining us. Kathrina, whos to blame for some of the Climate Change linked extreme weather events. Weve seen this year in parts of the developing world, and its very hard to say there is a blame and we know that theyre happening. We know what the cause of Climate Change are. They are clearly human. Its now the question of how do we come to a climate outcome and particularly now that the process is on a thought that allows us a half way but mitigates the was damage. I achieving a 1. 00 degrees scenario back in 2009 rich countries pledge this 100000000000. 00 a year in climate financing to help poor countries adapt to Climate Change. That was a voluntary system for adaptation and mitigation, rather than the reparation and damages that are going to be discuss this time route, given that target was not met. How optimistic are you that this whole idea of lawson damage will be successful . I think its a very difficult discussion, particularly in the current context, what you offer assessment recessionary, economic environments, in many regions. It will be complicated. However cleverly, we need to think about financing mechanisms. We need to think about Knowledge Transfer mechanism, Technology Support mechanisms and access to finance for developing nations. The whole idea of reparation. Reparations is usually contentious, isnt it . I mean, on developing countries concerned that providing funding could be construed as an admission of legal liability. And then end up triggering claims on a, on a major scale, what you needed a lot of complexities around that. You just mentioned some of them. I think it is an area where we think more about knowledge sharing. We think about various areas of Financial Support where they, the global norm clearly has an ability to do that. Well, that can be fabulous shapes of what you do not see that sort of legal risk and well, financial and technology and other support can happen. Ok, so lets talk about the fund itself. I mean, how, how do you go about setting up a fund like that . I mean, lots of details to get members to agree on where the money is coming from, how to raise the money, how, how which countries or disasters qualify for the compensation. I mean how, how do you put Something Like that together . Well, it obviously requires a lot of for donation and internationally. It also requires financial require at the end of the day, what youre looking at all of these things. You need to to look at private capital supporting projects. But the day its, the funding is the big fund, one thing,