reassure markets. global stock markets take big hits but bidens telling his country the system is sound. >> rest assured the banking system estate. >> xi jinping says it is time to

construct a great wall of stabile -- steel. he warned the u.s. in west not to intervene in taiwan. sci-fi movies wins big at the astros. the german antiwar effort was also a big winner. >> told you around the world, welcome. we begin with jittery stock markets. joe biden vowed to do whatever

is needed to assure financial systems. he told americans of the banking system is safe as fears grow. the failures are the second and third worst in u.s. history. >> the news sent bank stocks tumbling in the u.s., asia and europe. authorities say they do not expect long-term problems. >> there is a limited presence and we are in touch with national authorities. >> that was echoed by eu finance ministers.

>> we have our own authorities in europe. in germany, we have regulation. these institutions have no doubts whatsoever about stability. >> this changes nothing for germany. >> in the u.s., failures have brought back in a bid to lessen uncertainty to divert further bank runs. >> all customers can rest assured that they will be protected and will have access to money as of today. no losses will be borne by the taxpayers. it will come from the fees banks pay into the deposit insurance fund. >> unlike in the past,

irresponsible behavior by banking executives will not be tolerated. >> management will be fired. if the bank is taken over by fdic, the people running the bank should not be bailed out. rules were introduced after u.s. banks sparked a global financial crisis in 2008. they were partially repealed under donald trump. in the coming days, the decision is likely to be in the spotlight. >> i'm joined by an associate professor at texas state university. it's good to have you with us. since last friday, we have seen the second and third largest bank failures in u.s. history. is this a start?

>> and i believe so. the situation for both signature bank and silicon valley are very different. silicon valley bank failed because of an old-fashioned bank run. unfortunately, to meet those requirements they had to sell off some securities. investments were worth significantly less. the money they sold for securities resulted in a loss for svb. in the case of signature bank, they were heavily involved in crypto and as many now it has been contributing to a volvo

market. those of the speaking, there are small parts of the whole u.s. banking system. >> if i'm hearing you correctly, it's almost that the u.s. federal reserve caused the collapse at silicon valley bank. >> some blame the federal reserve for keeping interest rates artificially low for some long and then raising those rates so quickly. on the other hand, bank management is responsible and that they should be managing the interest rate risk. when you have bankers that have a history in banking, almost all they know excluding this last year are low stable interest rates. no appreciation that interest rates could increase quickly. there is plenty of blame to go around.

>> you mention cryptocurrency. that is a new factor. we have to deal with the speed of social media which can fuel panic behavior. it is the u.s. government, do they have the tools they need to keep the guard rails up, possible crisis is emerging customer >> you make a good point. this is what happened with silicon valley bank and that they were narrowly focused in terms of investing, lending and having deposits from tech customers, so some venture capitalists got nervous, advise clients to pull their money out of the bank and that is what caused the bank run. without social media, that probably would not happen, but i

think these are isolated cases, the government stepping in and ensuring depositors receive all of their deposits, that should put to rest any fears. >> what about tough love? it seems size is not the only thing that matters. all of the deposits will be guaranteed. that is creating a moral hazard. >> we are different with the financial crisis. equityholders came out pretty good because of the government bailout. investors have been completely wiped out and it is the

depositors. we think of depositors as the successful companies but a lot of them, $10 million might seem like a lot, protect, that is not that much. they are making money for payroll and you may have grandma that has three quarters of a million dollars in retirement savings in there. if we cut it off, folks are going to get hurt. if they say u.s. taxpayer dollars are being used, they will be funded by the banks. there will be a special assessment for any losses that are incurred. once both banks are completely worked out. >> the rubberstamp parliament

meeting. siegel and aggressive stance on relations with the united states. >> the most powerful focuses on military might. parliament is boosting the budget. beijing faces off with washington over taiwan. >> we should strengthen national defense, build the people's army

into a great wall of steel that safeguards national security, sovereignty and development interests. >> we should promote the peaceful development, a prose -- opposed separatist activities. >> parliament approved a watchdog. beijing aims for self-reliance in high-tech sectors. many allies have been handed top roles including the new premier. lee is tasked with reviving the economy and sub to reassure a nervous private sector. he struck a conciliatory tone on china relations with the u.s., saying the two powers have

benefited. >> china and the u.s. must cooperate. >> beijing is yet to reveal the full extent of the government overhaul from the meeting, but with xi firmly in control, his aims on increasing the strength are clear. >> earlier i spoke with a chinese policy reporter. i asked if the great wall of steel was more talk than action area >> thank you for inviting me to the show. the words are in line with the goals to modernize the military,

the goal of building armed forces. these words should be interpreted in context with his visit to the delegation during the people's congress where his remarks emphasize the technological upgrading of the military rather than an expansion of the armed forces. these words are not indicative of china trying to expand forces aggressively, but rather making forces more often -- optimal and technologically advanced. >> do you think the u.s. and west should change any policy? we have u.s. general saying the u.s. and china might be at war by the year 2025. >> these remarks reflect the

alarm from u.s. officials that china is developing capabilities rapidly, both leaders are intent on trying to stabilize the relationship running into more tensions with the u.s.. chinese entities involved. >> possibilities for peace. there are reports xi jinping will meet with the russian president next week and it's reported he wants to speak with zelenskyy as well. how credible is he mere talking about a peace broker?

>> these top and a long process of trying to resolve the russian invasion into ukraine, because china stands as a pro-russian neutrality, the credibility in europe and from the perspective of the u.s. as a peacemaker is pretty low. china going to russia and potentially having a call with president zelenskyy will not lead to peace talks in the near term, because china's peace plan on ukraine has never been accepted by the russian or ukrainian side. >> we appreciate your time and insight. thank you. now to the war in ukraine, kyiv

and moscow are suffering heavy losses. a commander says the situation remains difficult but soldiers are repelling russian attacks. the fight for control has reduced it to ruins. over the weekend, the ukrainian president said 1100 russian soldiers have been killed. the head of the wagoner group insists his troops are still advancing even though he admits the situation is very tough. i have an update from our correspondent about the situation. >> there is a counteroffensive in the offering. ukraine is desperate to show it can push the russians back further, the last big victories were last autumn and there is a sense the west will force ukraine to the negotiating table on some terms if they don't prove they can win.

i don't think that is now. forces are tightly surrounded by russians. there is a small bottleneck connecting the city, the question now is whether the ukraine's have to leave as it seems most top brass wanton to do or they can keep going and try and draw russians to positions while doing both at the same time. that is the question, there does seem to be a difference of opinion. >> russia has agreed to extend the expert deal. >> was not set up to prevent

delays to bring exports, to keep food coming out of ukraine and food prices affordable especially in africa and parts of southeast asia. there is a sense that this deal is working too well. farmers are getting money and are able to sub crops. russia is trying to see that the ukrainians are making an effort to up the price of shipping for ukrainian farmers to put pressure on the ukrainian economy which is miraculously functioning, the attacks are not working. pressure on shipping.

there are so many connections to consumers across the world. >> as always, thank you. >> the war is raging. communities have started to rebuild. places are trying to start again . >> these are welcome sounds. houses are being restored, residents are surprised.

>> i hope it will be a new start. the start of something good. after that all of ukraine will be rebuilt and it will be better before the war. >> the project is sponsored by the foundation of the son of warren buffett. just 15 kilometers down the road, a village lies in ruins almost exactly as it has since last year. this is all that is left. she lives in a modified container, quite literally among the wreckage of her own home and she does not live alone. >> look at this beautiful girl.

>> she shares the dwelling with her daughter and granddaughter. >> is the three of us, sometimes my son comes, he sleeps on the top bunk and the three of us sleep on the bottom. what can we do? >> they have been living this way since last summer, she applied for help to rebuild her house but has not heard back. >> we filled out the forms but there is no decision on whether we will get help or not. we do not know more than that. >> she knows her case is just one among many. the military destroyed hundreds of properties in her village alone. nationally that number is in the hundreds of thousands. a social policy expert says the government has done a great job at finding temporary housing for

almost everyone. >> they lack a long-term vision. we have some programs of compensation, on the other hand -- >> her home will have to be reconstructed from the ground up. >> i want to live long enough to rebuild this house so i know that if i die, my daughter and granddaughter will have a real house to live in. >> she says her family will find a way to do it even if it means doing it alone. >> the biden administration

approved an oil drilling project in alaska. supporters say it will be an economic lifeline for indigenous communities but environmentalists have urged him to not move such projects. a cyclone has killed nearly 100 people, heavy rain and strong wind have triggered floods and landslides. before this, the cyclone swept across mozambique. it is one of the longest lasting storms in the southern hemisphere. the head of the r rating judiciary says 22,000 people arrested in process have been pardoned by the supreme leader. thousands took to the streets in a challenge to the regime following the death of a young woman arrested for not wearing

her veil properly. trash has been piling up in paris as collectors strike over changes to the pension system. police cleared a blockade outside of an oil refinery. reforms include raising the retirement age. a final vote is expected soon. unconventional films take on the top honors at this year's oscars. everything everywhere all at once netted seven academy awards including best picture. the german film, all quiet on the western front picked up four oscars. reporter: one film dominated the show, the wacky and wonderful sci-fi flick everything, everywhere all at once swept seven oscars.

with a malaysian actress making history as the first asian woman to win best actress. >> for all of the little boys and girls club look like me watching tonight. this is a beacon of hope and possibilities. this is proof. dream big, dreams do come true. ladies, don't let anyone ever tell you your pastor prime. >> her costar made a remarkable comeback to claim best supporting actor following a 20 year acting hiatus. >> my mom is 84 years old and she is at home watching.

mom, i just want an oscar. >> costar jamie lee curtis one best supporting actress. it was brendan fraser awarded best actor for the well, edging out austin butler. >> so this is what the multi-verse looks like. >> elsewhere, all quiet on the western front took four awards. the most prizes a german film and ever won at the astros. a year on from the infamous oscars slap, jimmy kim poked fun at the incident. this year, the show was drama free with the attention back on the glamour and golden statues.

>> before we go, here's a reminder. joe biden told americans the banking system is safe, moments before u.s. stock markets open, he was trying to calm fears after the collapse of banks. the failures are the second and third worst in u.s. history. this is dw news. after a short break, i'll be back to take you through the day. we will be right back.

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