Les actus du jour - Hugo Décrypte: Une crise qui inquiète le monde, l’été 2023 a été le + chaud, l’Inde change de nom … Actus du jour

Ryan Reynolds here from Mint Mobile.

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We'll be back in about 10 minutes for a new dive into the news.

We'll take back the format of today's activities, a more normal rhythm after the interview

on Monday.

And on the way, I'd like to say it to all the new people who have joined these last

days.

Welcome to you already.

Install yourself comfortably.

This format of today's activities, we do it every day from Monday to Friday.

And we do it both on YouTube, both on podcasts, so you type Hugo

D'Crypt on Spotify, Apple Podcast or others, you will be able to find them.

And we also do it in written version, now for a few weeks, with a newsletter

by email.

So, all this, YouTube, podcast and newsletter, it's free.

I put you the links in the description to discover the other versions of this format.

So, a few weeks ago, in the middle of August, we learned that Country Garden, one of the

largest immobile groups in China, was in a very tense situation and faced its

most serious difficulties since its foundation.

Concretely, the group is ultra in the summer and he had warned, by the way, that he was

not sure to be able to reimburse his loans and that he risked making what we call

a payment deficit.

In all, the group has a small debt to reimburse, a debt of 180 billion euros, a debt that

the group has to reimburse little by little in the next few years, but to give you an

idea, 180 billion euros, it corresponds more or less to the GDP of Hungary, so the

whole wealth produced by this country for a year.

As a consequence, the Country Garden rate dropped by 18% in the Hong Kong stock market

last fall, so it signifies a fragility and an concern on the part of finance.

In short, it is a situation that is worrying, especially since it comes at about the same

time where Evergrande or Evergrande is another group and Chinese immobilized promoter has

declared himself in failure in the United States in mid-August.

Evergrande has been feeling payment since 2021, so the company no longer manages to pay

its debts for two years, and its debt is about 310 billion euros, even more so than

Country Garden.

So how did we get there and what could happen now, I explain to you.

In fact, Evergrande, like Country Garden, built their growth on a huge debt to be able

to carry out projects and then hope to reimburse their loans with the revenues generated by

these projects.

To give you an order of magnitude, in 2022, Country Garden received more than 3,000

shanties in short, including 30 foreign ones.

And among all these shanties, there is notably a gigantic immobilized project in Malaysia

on artificial islands.

This project, which costs 100 billion euros, was launched in 2016, but seven years later,

it has only welcomed a few thousands of inhabitants instead of 700,000 expected.

In short, a big difficulty that is explained, not only, but especially by the coronavirus

crisis, which obviously impacted the immobilization sector.

And then, more broadly, it is necessary to understand that China has imposed drastic measures

for more time than European countries or others, and so it had an impact on this sector

there.

But what needs to be noted is that today, the immobilized sector in China represents

a quarter of the Chinese GDP, so a quarter of the wealth produced with this indicator

in China.

And in the errors, we can also note some projects that make debates, for example,

about investments that have been made in small Chinese cities.

The thing is that it is cities where, in general, customers have a purchasing power that is

more limited.

And so, there was, visibly, according to some specialists, a form of shift between

what was hoped and reality.

In short, objects that develop in all directions, sometimes with a simply speculative goal,

people who therefore buy in the only objective of reselling, but in a absolutely massive way,

and in cities that, suddenly, do not really meet.

So now, why is it worrying and what needs to be taken care of?

Already, I was saying, the immobilized sector is a quarter of the Chinese GDP.

Of course, if some companies fail, it can have an impact on other sectors at the

scale of China.

By the way, Country Garden, for example, is 70,000 employees at the end of 2022, so

obviously, if you put the key under the door, well, it has an absolutely colossal impact.

The other element to this concern is that behind this immobilized crisis, it is hiding

in reality a deeper economic crisis that touches China.

We can note that, in particular, since July, the country is in a period of deflation,

so a period of low prices.

And in this case, in this specific case, it may be the sign of a vicious circle at the

economic point of view.

And by the way, it must be noted that in July last, the Chinese authorities have decided

to suspend the public publication of the figures of the youth unemployment, which shows

that figures are not good and that they are only hidden to not create a panic effect.

So now that we have said that, and before moving on to the news, is there a risk of

global contagion?

It is actually quite hard to note today, but some experts want to reassure you,

I put links in the description for a more specific sake, by explaining that China

has priori, to some means, to control and isolate the crisis.

Now, you would have understood, beyond the immobilized crisis, there are already difficulties

at the scale of China.

However, China is the second world economic power.

The exchanges with the whole world are important.

In other words, in the media, there is no contagion that is in court or whatever, but there

are economic signs that have not been positive in China for several weeks and so it remains

something to be observed.

In any case, I would like to know more, I put links in the description, it seemed to me

interesting to do a little point about it.

We will follow the situation in the next few days.

We will obviously talk about the difficulties and what is also happening in Europe from an

economic point of view.

I leave my word to Lea for the news in short, and I'll see you right after.

Thank you Hugo and hello everyone, we start with this act, close to a French on 5,

with the discovery in 2023, and this figure being high, according to the annual barometer

of poverty of the popular aid that was published this Wednesday.

Concretely, 18% of the French people are now constrained to spend more than what they

earn to ensure the expenses of the daily life, like that linked to food for example.

In short, 45% of the French know difficulties in paying certain medical bills and 43%

in their energy bill.

Results, close to a French on 2, declare no longer able to afford and therefore to

put money aside.

The second act, the summer of 2023, has been far the hottest ever measured in the world

with a global average temperature of 16.77 degrees according to the European Observatory

Copernicus.

In July 2023, which is by the way the hottest weather ever recorded on Earth according

to this same agency, the global average temperature has even reached 16.9 degrees.

It is 1.5 degrees above pre-industrial levels, which is the target set by the Paris Agreement

in 2015 to limit climate warming.

So according to the Copernicus agency, it is even likely that 2023 becomes the hottest

ever recorded.

Following this announcement, Antonio Guterres, the UN General Secretary, has deployed, I quote,

the beginning of a climate collapse.

The third act, important floods caused the death of at least 5 people in Turkey,

one in Greece as well as 8 in Algeria and 3 in Spain.

In fact, for several days, strong rains are fighting over these countries, particularly

dry since the summer, which therefore causes impressive floods.

So to give you an idea, the amount of water falling in Greece in just 24 hours is

equivalent to the amount of water that usually falls during autumn.

By the way, on the train from Inondation to Brazil, a cyclone has at least 22 deaths in

the south of the country.

This is the worst flood for a climate event in this region, according to the governor

of the state of Rio Grande de do Sul, particularly affected by these floods.

We will keep you informed.

The fourth act, about 6 billion tons of sand are extracted from the oceans every year,

according to a report from the UN that was published this Tuesday.

It is the first time that such an estimation is made on the subject.

In fact, sand is an essential material in the construction environment.

But the problem is that the ships that collect the sand in the seabirds are

sorts of vacuum that destroys the entire environment with them and the biodiversity of the oceans.

The UN program for the environment therefore calls for the international community to

develop a real regulation so that the sand is no longer considered as a simple

material that can be available at will and therefore better protect the environment.

And we end with this act.

India could soon change its name to be called Barats.

In fact, India will receive this weekend the members of the J-20, a group that

brings together the main world economies.

And it is precisely on the invitations sent to the different guests that the president

of the country, Drupadi Murmu, was presented as President of Barat and not President of

India, which launched many rumors.

Besides, Prime Minister Narendra Modi often uses the term Barat to talk about his

country rather than India.

In fact, India has been looking for years to put an end to the symbol of the British colonization

that took place between the 18th and 20th centuries.

And according to the current government of the country, the term India, introduced by the British

colonists, still represents a symbol of slavery today.

Machine-generated transcript that may contain inaccuracies.