the principle presented as a correspondence with any breaking the story we want to hear from those people who with normally not get that voice is heard on the international news channels. one language i'll be very proud of was when we covered the fullness quake of 2015, at the terrible match, all the facts. and the story that needed to be told from the hall of the affected area to be then to tell the people story. it was very important at the time. the hello i'm stymied say then this is counting the cost analysis era. we do look at the world of business and economics this week from funds to assign the race. india is 5 minutes. the ones to transform is countries economy. what do his plans name for frustrated the agricultural workers. also this week,

japanese consumers are cutting back on spending. that japan slipped into recession, lost its ranking is the world, the largest economy, plus a high, a price to pay if you have a sweet tooth coke. our prices, a soaring chocolate make, has a feeding the hungry call to employees close to half of india's workforce. but generates less than 20 percent of g d. p. millions of small hold of farmers who have seen the yields and incomes full, demanding support from the government prime minister and the amount of the needs that vote soon. as he seeks to extend this decade in office, but keeping them happy, well, that's been a challenge. actual time of age reports engulfed into your gas. these farmers have been marching to new delhi, demanding guaranteed across the prices are requests the government to refuse this

demand. but it is the duty of the government that they should give us minimum support price. we are demanding minimum support, price for $23.00 krupps. if they agree to it, entire nation will be prosperous. our entire families will be employed for weeks. farmers across india had been taken to the streets. they are unhappy with the conditions provided by the government. despite their peaceful protests they've been met with resistance. farming is the backbone to feed these economy employees more than half the nation's workforce. be for like junk deb are seeking to guarantee the minimum price at least 50 percent above production costs to make enough for living safety the but all the cut, the problem in farming is high input costs and sometimes not from calamities. also lead to low yields. we don't get the proper price file across which leads to major

losses because we have to then take a learn. farming is no longer profitable, said out of the dispute began in 2020, with a law in that the modernizing farming by removing middleman and fixed prices. which farmers say benefits and large corporations to a year long stand off like to prime minister and then into the movie for appealing the law. despite promises to double their salaries, their financial conditions have worse and after the laws will be drawn in 2021, the demands would not match. so the on back those 2 months, they are demanding something as simple as a simply getting the features and the speed which is minimum support price at which the government buys the cops, which means they are off or just in the short info for them. so those are kind of a safety net. unions are also the magic law and favors for small farmers and a minimum wage for agricultural workers. the government says it's open to

negotiations. is hans under no guess on the efforts will continue to speak to the farmers union, a constructive and positive manner. we are ready to hold dialogue with them. these protests are taking place as india is preparing for national elections by the end of the month. some say they could potentially affect prime minister bodies, re election access. i'm gonna reach out to 0 for accounting, the cost. well, joining us now from new data in india is jay and chris. now he's a senior fellow and us in the a policy studies at the center for strategic and international studies. good to have you with us. all farmers right to demand high, a guaranteed crop prices. see from farmers perspective uh you know, their, their, their lights in demanding that like but let's understand, you know, too much. busy of the one is that they're talking about all the crops to come under the minimum support price. they're design misspeak and which is a, they're talking about

a 50 percent profit on the bus stop production. and which is also in line. but you know that the need to know that scientists to and that's why we not to them. so if somebody that accommodations based on the old $1.00 times of the cost of production should be the minimum support price borrowed for logs before the key drops. you know, i don't think uh, you know, uh, it might be wise to do that. let's understand india on the, on almost in india or most, 86 percent of them are small and marginal farmers, you know, and they do not tend to get been impacted by. it must be as much as the lodge bob motor skills. well, i think a, a too much of protection on the m s. b extending to on crops, which is already there for, we didn't buy the but the extended to all of the crops, to my mind for the start of, you know, market forces. and also what we're dis, disregard the demand and supply situation. you don't do much of protection and what it must be would lead to some crops like, you know, having a trace route or production. and that would be a shortage off of, you know, other of green. so, you know, what i, what i'm trying to say is, diane,

will it lead to price increases and inflation and food prices for consumers? it may lead to that kind of a challenge. you know, because if you extend that must be the one crops and we put a huge amount of bucket play button on the window for india on the federal government. and also it will lead to inexplicable distribution. and uh, you know, if there is a good, you know, lack of balance between demand and supply, it may lead to forwarding infliction as well. you know, so i personally do not think that as why is to, uh, you know, extend, it must be to on cut offs and, uh, and ultimately look at, right, you know, the deductible between 12 and 20 or the pharmacy you know, which would have brought in on once a box but the bottom i but the the bids but it would be to my mind that mcdonough zoom was more market lake and all i, although i'm glad you mentioned the 2000 and then 20 to 2021 era. but hold on, hold for a 2nd because we need to just remind ourselves that

a little bit of background to what's going on in the big picture. moody of coles wants to turn into you into a develop nation that will, the economy is expected to grow 7.3 percent this year. it's also on trying to become the world's largest economy by 2030 overtaking japan and in germany. a major driver of that growth is infrastructure. more than a $130000000000.00 has been allocated to build assets like roads and poets. they see it. india is also trying to boost its manufacturing sex, so which accounts in any 17 percent of g d. p. it aims to replace china as a global production hub. bought factories are struggling to fill vacancies, despite modi's pledge to create higher paying jobs or careers excite in the quality is rising. and growth is viewed by sexes that don't help poor people. in rural areas, the average per capita income in the south asian nation is nearly 2 and

a half $1000.00 a year. and that's less than a quarter of china's so talking about the poor people being left out of this, why is it taking so long? john to address the challenges of farming conditions because as we were talking of minutes ago, it's been going on since 2020 with the process at least. right. see, you know, logistics, understand agriculture, bundle boots, only 15 percent. uh. you know, off i'll send you an offer and you can be, you know, and if you look at where you don't have exact data, but you know, the range anywhere between, you know, 35 percent to 45 percent off the workforce. depends. uh, you know, the, the likelihood is, depends on agriculture, you know, it's, it's a, it's, it's a, it's a very long cited for the commission. and it's, it's happening in all the countries that above the workforce is moving. i mean, from my big go to. so the challenge is how do you create more jobs? so india and, and deal to the same thing is happening. people are moving away from the go to because uh, you know, uh, you know, so, you know, the, just for people sort of judy be, cannot feed the, you know, a was

a 40 percent off of the workforce. so they're moving away. but the challenges will create more jobs going on. so, so far on the government's track record of you know, has, has not been as good as it has been on other friends. so i think the big, biggest, challenging, the a is amazing today is to create more and more jobs. so i think, and if that happens, you know, the shifting will lead before i'd be from i'd be glad to get all of what we'll get comes up in the use that goes up. and for that as you right. you said, i think the government has to the skill in the admissions department to start having bought the phone. i think it needs to needs to be given a facility to fly and somehow i have to get a feeling it, as i don't know what i've seen, but skill us up. very, very, very important between the as the lead. but it's the most effective within, you know, we have to do it on scale out people appropriately, which is very, very important because governments uh, friday. uh, but some that i get a feeling a little up with what all the things it does. taking a bit of a back seat. dad,

they may be moving away from agriculture, but it's still a big employer. when you look at the numbers, you know, people in india and how many people are engaged in agricultural right. is there also a challenge and improving efficiency of the agricultural sector and productivity? yeah, so that's a, that's a big challenge generally if you look at the body device and leads to these 2 crops, you know, and uh, you know, the productivity, the, to the address productivity that you get in india is pretty hot of what you get in buckets in the us and even pockets of china, you know, kind of looking. so i think, i think the productivity has to go about getting more and more modern science and technology. more equipment needs to be used in farming. i think that's like the right thing on the one, but the problem is out of the top of if 86 percent of the 5 most are small in modern and, you know, and, and, and they have of a 100 miles got it opened up the existence so do they have the, do they have the most important kind of them to, to adopt and embrace more technology, more equipment and well, let me,

let me ask sometimes your mindset is the government's interim. 2024 budget. providing that support, is it doing enough to some extent yes, the us, i'm been getting the programs that are also some form of loans which have been agreed upon. but again, you know, this is a kind of sense. it made a thought of most, well, the probably still not happy though, that protesting how do you think the stand off is going to. and i think the purpose is also partly politically because they know little somebody election. so father, in collections that are on the corner, so the final thoughts or feels that the government would be more than one variable, speed to to, to, to belong any cases. and so they, it's, it's a split it to anybody by the time i'm not saying farmers don't have a problem that you had challenges. but, but the timing of the test as has got something to do with the what's coming collections. and i find them include believe last payment, the, the phones hopper and they will the building go big. it will be with a lot of dialogue between the government and the farmers. they want us to be more dine all and all the please,

all be brought from the table for the rise destruction in the notes, but it was bought and actually been in and obviously been kind of on the hold. all right, i'll tell you what i saw and thanks so much jan. so your analysis on that the off the is of deflation. japan is now seeing inflation with the fastest price growth in more than 30 years. but wages are failing to keep up with the rising cost of living and the japanese. well, they're not spending as much as they were. last slowed economic activity, the end value to the dollar has gone south. japan's economy is now slipped into a recession, is dropped to rank below germany to become the world's full largest economy. we'll get into that with all gas shortly, but 1st, let's talk about what is the recession? well, it's when the economy shrinks, for 2 consecutive quotes is measured by a decrease in gross domestic products. well, that's known as a technical recession because only one part of the economy suffers. whereas

a full recession. well, that affects multiple sectors for a sustained period. us and it affects people who faced job losses and reduced income leading to difficulties and paying bills, securing loans and maintaining savings. businesses. on the other hand, while they struggle with decrease sales and potential bankruptcy, let's have a closer look at what happened in japan. the. the

shaw phone is and consume is say, that feeling the pinch of cost, we feel that i feel that the way customers shop is changing. they would bring

shopping lists, but now to protect that way of living, they are coming to see what the bog themselves, and then deciding what to buy. i think i've done all of the, you know, that i've had to pay cuts. so i stopped buying clothes and reaching out in order to save money. well, joining us from tokyo is jessica called director of the investment advisory firm monex group, japan. he's a former chief economist at jp morgan and merrill lynch good to have you with us us . so we go this unusual situation, i guess where we're seeing corporate profit searching. the stock market is rising unemployment rate. so low and yet depends economy unexpectedly fell into recession . why it's very straightforward. you'll remember that in this country, one in 4 is now living off of pension. it's a very, a society average age is 50 years old, one and 4 people is actually over 70 now. and as a result of that, you know,

you're living of your pension, which means that the same price is going up, energy price is going up all up is into your purchasing power. so the gap between corporate japan doing extremely well and therefore the stock market searching and the average people and that in depth is widely. well, we see then wages increase if the price is going up. yes, and you're doing that, you're seeing that way just for the people in the twenty's and thirty's are actually growing by 456 percent. so you know, for the young generation everything is fine. but as i said, you know, you've got this sort of barbell where, you know, 25 percent of the people are over 70 and they don't feel, you know, the surgeon incomes. and quite frankly, you know, they're not going to feed it because they live on pensions. not of wages. so what is the solution that for like very tricky situation with people on pensions?

i don't think it's a very tricky situation. it's just par for the course. you know, in the sense of bad, you know, as a society ages, you know, the increase in asset prices. the increase in competitiveness of corporations does not necessarily translate into g d p or national income. so, you know, it's a great country to be in. it's a wonderful country to invest in with plenty of opportunities and look forward to your life is still absolutely 2nd to none, particularly for the younger generation. all right, a lot of eyes are on the bank of japan right now. do you think it's going to move ahead with the country's 1st rate increases since 2007? so i think the answer is yes, i do expect a normalization of interest rates. remember, we had basically 0 emergency interest rates for almost one generation for almost uh, you know, 25 years. and normalizing interest rates by giving

a little bit of a price of money for the term interest rates going to 2025 basis points. that's in the cards, but it does not mean that there is a type to mingled monetary policy. it's a normalization of liquidity conditions, not the central bank stepping on the brake, hold on. what impact then might have on the end? because that's an important question, isn't it? for exports is to you're absolutely right. you know, um, and i've learned the hard way that what matters is not so much of japanese interest rates, but it is us interest rates. in other words, you know, if indeed the federal reserve, what to stop to increase interest rates one or 2 more times, that obviously would give a further boost to the dollar being comp trust. you find that the moves by the bank of japan, if at all, are going to be very deep from info and not dramatic. so i do think that the dollar is points to increase further. all right,

and let's talk about the bottom line here. shrinking population comes upon them every cover it's number 3 spot or no, absolutely not about the japan corporations will continue to gain competitiveness. you've got a new generation of c o, swat aggressive making new acquisitions. just look at nip on steel, buying us steel. i mean, that's a very aggressive move. so the gap between g d, p, japan, and corporate competitive japan, inc. bed gap is going to widen and don't worry, you know, the quality of life stays very high because public infrastructure remains excellent here in japan. so a more competitive corporate sector and still a very high quality of life here in tokyo. or why should the japanese government do to spell my mall growth and perhaps try and look at that gap. so you know, this is where it gets very interesting. in the end there is one primary answer

which is to allow more immigration and the or thirty's here in japan are doing this . the visa regulations for workers, for digital nomads, for university students, the tetra, all of these visa regulations are being used. so, you know, if you really want to return to a 2 or 3 percent growth economy, you're going to have to reduce it up further on immigration bills. all right, jessica call with thanks so much good to talk to. the british economy also fell into a technical recession of the end of last year. for the bank of england side, the u. k. showing signs of recovery. many economists have oh, to the bank of england to low a borrowing cost to help revive the economy, john. so the jeremy hunt says that could happen soon of the underlying picture. here is an economy that is more resilient than most people predicted inflation is

coming down real wages have been going out now for 6 months. and if we stick to our guns, independent full cost is say that viability some of we could start to see interest rates pulling. and that will be a very important relief for families with mortgages. and now let's have from some brothers fateful about how they feel about the contraction of the economy. i say things are selling, picking up. it's still quite hard. and i think 2nd off of the account, the things we paid for the bank said we probably need a general election just as opposed to both of them to allow it allows us to move on get a sense of direction since we invested for business. and so on, but ultimately employ, i'm pretty up some mistake, but i appreciate their people. so i think the jobs, it's hard, but it will get back to it. i think it's a symptom of what we've been for of the last 2 years now. closing use of the government, that seems so intent on getting to have your stronger economies. i'll talk a holics may have to full count more to satisfy the cravings. the main ingredient,

of course, is co co, which mostly comes from west africa. the price of the beans hit a rack hold high of $95900.00 a ton more than a week ago. manufacturer has a wire and the increase could damage the business. that's because the price of co co, a search by 99 percent since last year major produces, including the maker of cadbury and tobler robin reported a slump in sales. chocolate la. those are starting to feel the impact. some prices of almost doubled, making the one sweets escape come at to base a cost of all joining us for ma'am. so them in the netherlands is anthony fountain . he's the managing director of the voice network and kohls. busy of the co cobra on the to a good to have you with us. so let's start with the obvious one that ends in a why all coco price is rising. coca prices are rising because supply is low and supply is low because of a combination of bad weather and that's,

that's the result also of climate change and the nino weather pattern that we're seeing at the moment. but also because of an outbreak of several crop diseases in west africa because of the spread of gold mining to go production in west africa. and because farmers are basically, they've been underpaid for so long that there's not really a future for them in cocoa. and so they're, they're not really doing their best to grow a lot of don't go at the moment because it's not worth it. is there something that west africa can do to take care of some of the structural issues at least obviously . um and i think that the government policies make a huge difference in what it is and what is in able to be done there. so invest in infrastructure, invest in better education and, and a invest in diversified production. and i go forestry versus just cutting down on the forests to grow, co go, right? so those are things that the governments can do, but most of those will have a best and medium to long term effect on what's going on. what about the prices of

all the commodities ave contributing to the challenge? chocolate produces a facing the cocoa price peak is quite unique to cocoa at the moment because it's really a coco specific problem. but we're, we're dealing with a problem across all crops and across many decades now. and it's not just in tropical commodities where farmers are simply not being paid the price, they need to have a good livelihood. this is also why we're seeing a lot of farmer protests in europe at the moment as well. um, our global food system is not aimed at paying doing a fair price to farmers is aimed at driving the price down as low as you possibly can get. because we, as consumers, want the cheapest possible products and so a market sold and this is sufficient to deal with that at the end of the day. do you see any hope? i don't think that market forces are sufficient to help the farmer market forces work very well further down the supply chain. but we've known for decades that the

market actually doesn't work well in paying the farmers properly. and in fact, the, the architect of the common agriculture will policy a dutch politician. many years ago after he invented the european calling, agricultural policy said, actually supply and demand works very badly for farmers. and that's why we think farming needs to be paid remunerative. lee and not based on supply and demand. well, what about chocolate makes? is that how they dealing with this challenge? simply passing the everyone, they like to say everyone is quite concerned about these high prices. and when i say everyone, i mean everyone in the cocoa sector, the buyers, etc. not so much for the price is, although that is a challenge, but they're concerned because the prices are high because there's low supply. and if there's low supply at some point, that means if there's not going to be enough cocoa to make all of the chocolate

that we're used to consume the, i think going down, always seen the model for chocolate decrease not yet, but that's also because the big price hike hasn't actually reached the stores yet because co go gets sold a year, a year and a half in advance. and so the prices that we're seeing now are translated to the shop. the price is quite yes that will take quite a while before it officially gets there. or i do think we're going to see the price is rise any time soon, given all the facts, as you've mentioned. i'll go go down, would be say. so i would be surprised if chocolate prices went down. i think they will go up because companies are quite good at kind of translating their increased costs to consumers. so that will definitely happen at 1st. people thought this high price was going to be a short term, temporary thing because of a, whether anomaly at the moment. more and more analysts are thinking this will take quite some time still at least a year, if not longer. so i don't think chuck, the prices are going to be coming down anytime soon. we're gonna see shrink flash

and with a shrink the size of the product instead. well that's what we've seen every time so far, when coke of prices are high, they either indeed shrink the size of the bar. i think total around it that quite spectacularly in a problem matic way a few years ago when it happened the last time. but you see companies making their packages smaller, but sometimes also putting a whole bunch of extra ingredients in that art. cocoa that are cheaper. so right expect see more kinds of chocolate with lots of other ingredients in it. all right, thanks so much for joining us on this sweet topic. thank you very much. and that's our show for this week, but remember, you can get in touch with us, my sweet to use the hash tag dang, ctc the new do paul thomas and email to the cost of deltacare a dot net is our address as well. for you online at al serra don't. com slash ctc,

like sites on page which as individual reports links and the rest of the catch up on the sense of this edition of counting the cost. i'm sammy's a that from the whole team here. thanks for joining us. use and i'll just say era is next. the latest news as it breaks, and i think it's very blue pace. the used to be able to face up to 37 kilometers out to the same spot, know any more from the hall. so the story, this is how this experience is waiting for the 3 of your patients, paula to tox, illegal supplements, and then grab with detailed coverage. the 1st situation in the global group is worsening. at least half of the population is already starving. the what constitutes exempt, so we generally talk to a see,

i want you to start with just the fact was to what happened as independent. we won't be in my want, we do, we don't have to leave them in this country policy and it's meant to get 50 percent representation and accountability benefits. no 1000 service at this point and you're saying you don't have any reports for that. i should just trust that unity often as i find the cool values to produce outstanding jen, this them out as the integrity in the pursuit of truth asking questions. were you ever warren's about the health effects of our no understanding the reality reporting from the action the, the hospital with fearless gentleman is just behind me? hundreds of people have been back to h as an in depth coverage,

tying on stakes. it's future on fossil fuels, know renewable. i'll just use teams on the ground. bring you closer to the heart of the story, the, [000:00:00;00] the hello until mccrae. this is the news. our line from coming up in the next 60 minutes, the under attack, israel's military fall is on palestinians as they gather to get food at a distribution center in northern garza types of a possible safe spot. and guys of the us presidential adviser and says israel is

for kids to stop this form and campaign. in the coming days,