In this engaging discussion, Tom Lee Devlin, Business editor of The Economist, shares insights on how Chinese firms are navigating economic challenges by expanding into less affluent markets. Meanwhile, correspondent Wendell Stevenson sheds light on Ukraine's energy crisis, detailing the catastrophic effects of missile strikes on infrastructure. The conversation also delights listeners with a humorous exploration of the cultural significance of the doner kebab, tracing its journey and influence in various cuisines.
Chinese firms are shifting their focus to developing markets in response to slowing domestic demand and geopolitical barriers in the West.
The döner kebab illustrates the evolving cultural exchanges and political significance tied to food, reflecting Germany's demographic changes.
Deep dives
The Impact of Russian Attacks on Ukraine's Energy Infrastructure
Russian missile strikes have severely damaged Ukraine's energy infrastructure, focusing on power plants and renewable energy sources such as solar and wind installations. This ongoing conflict has led to acute power shortages, especially during extreme weather conditions, making electricity availability critical for basic services and operations. Engineers are struggling to repair impacted facilities, as many are hit repeatedly, indicating a cycle of destruction that hampers recovery efforts. The need for stronger air defense systems has become evident, with Ukrainian leaders emphasizing the urgency of this matter to secure energy resources and maintain stability.
China's Shift in Global Market Strategy
Chinese companies are increasingly looking toward markets in the global south amidst slowing domestic growth and geopolitical tensions. Noteworthy is their expansion in various sectors, with firms like Trenchin dominating smartphone sales in Africa and Mindray leading in medical equipment in Latin America. This pivot comes as traditional western markets become more challenging due to rising tariffs and protectionist policies, compelling Chinese businesses to diversify and seek profitable opportunities abroad. As a result, export growth to these developing regions has surged, with significant increases in sales as compared to western firms.
Culinary Crossroads: The Evolution of the Döner Kebab
The döner kebab's journey from Turkey to Germany illustrates the cultural and culinary exchanges that shape modern cuisine. Originally introduced by Turkish migrant workers, the dish has been adapted to German tastes, often served as a sandwich with unique sauce combinations. Recently, this popular food item has gained political significance, with efforts to secure quality certification from the EU, potentially impacting how döner kebabs are made in Germany. As Germany's demographics shift, the döner kebab continues to evolve, incorporating diverse influences that reflect the country's changing landscape.
As domestic demand in China slows, and the West puts up trade and political barriers, Chinese firms are shifting their focus to poorer parts of the world. After Russian attacks on Ukraine’s energy infrastructure intensify, our correspondent visits a wrecked power plant (9:10). And how the doner kebab became a cultural touchstone (17:00).