about ten years ago unleash the global financial crisis so what we've done since then and fizzled and will be hit with a business update in just a moment. i'll be back with more world news at the top of the hour in the meantime of course as always the website that's the w dot com have a good. as long as. managers you know who today nothing to change you know the banks pay you money and so watch the language of the bank money. speaking the truth global news that matters g.w. made for mines. a news analyst to she gets a little unsub. called shake it sounds good is kind to

boost side by most. people have put big dreams on the big screen. t.v. and movie magazine on d w. ten years after the collapse of lehman brothers corporate debt has almost doubled that's ok as long as we have low interest rates but what if central banks change their monetary policy. vietnamisation is up and coming power house we take a look at what's behind the country's economic transition. and a badge and striking it rich to this extent these aren't just now gets of gold to their shoulders of gold. and bad physical and let's do business the lehman

brothers bankruptcy plunged the global economy into crisis a decade on things are looking up corporate profits are rising wall street is celebrating one record after the next a growth has been fueled by low interest rates which have prompted companies to go into debt on a massive scale. tesla is ten billion dollars in debt. net flix eight billion dollars. how pumped lloyd germany's leading shipping company is seven billion dollars in the red these are just three examples of loose lending never before have companies worldwide had such easy access to money as in recent years. according to a study by the mckinsey management consultancy worldwide corporate debt has increased to sixty six trillion dollars almost double what it was at the start of the financial crisis ten years ago. money is never been as cheap as since the

financial crisis central banks flooded the markets with trillions to help financial institutions and economies get back on their feet. the us federal reserve looks set to raise its key interest rate again the european central bank on the other hand is not ready to take that risk in fact the e.c.b. is still in crisis mode with its zero interest rate policy known still comes to virtually nothing some fear of the accumulated corporate debt could trigger the next global financial crisis. all the money that was borrowed has to be paid back if interest rates go up repayment will be more expensive and may have to be countered financed with new jet if that gets compounded by an economic downturn many companies could find themselves in a tight spot. consult with fried fish joins us now mock has the corporate world been lowered into a false sense of security by

a whole decade of low interest rates consumers as well or are they taking advantage and making the most of good times. both i guess but absolutely this is a financial bubble which is created in the last couple of years and it's a very dangerous course one day there will be a recession. there will be a downturn and then the companies will have big big problems and this is in the horizon. what sort of horizon you talking about i know you've you've written books about the next crisis being just around the corner what makes you say the next crisis could be coming very soon oh if you look at the financial interests see that everything is on the extreme level right now and i expect it to the end of the decade or perhaps three to five years at most but the problems are not solved from two thousand and eight we just create we've bought time in which has created another financial bubble to to solve the first bubble so we just bought precious time for with

a lot of money and nobody know what the end game will be but there will be a big big big blessed so in your opinion have we made any progress over the past ten years. oh here i don't know i would hope so but actually not really cause the banks right now strike you know to the bonus on the record level as well and companies get on really low interest rate debt without limits so we didn't solve the problems we just bought like i mentioned already we just bought precious time but the politicians did not use this time to to create a safe surrounding the safe environment for the future though and i think the next bubble will hit us very hard and then we hope this time we learn from the crèche mark there have been a lot of changes as far as banks go and the rules and regulations the capital reserves that they need if if we go back ten years it was interesting that lehman

could have been saved sparing us the worst of the financial crisis but do you think it was better to go through all this to get the world's banks back into shape or at least improved as far as the comparison goes with ten years ago. but it was definitely a watershed moment and it was a warning signal for all the other banks that the countries will not save every bank and that we have to change this and right now they have perhaps five or six seven percent. in the balance but it's not enough they need much more if you go for a private person to a bank you need twenty thirty percent but those who deal with the money you have to five or six percent this is not enough and in the next crisis this will be rude awakening for everybody and there are no solutions that we can change this right now the politicians the politicians are not away off that not capable to change

this rude awakening the world's listening and not sleeping thank you very much for joining us we welcome to department store titans a coming together to battle competition from online commerce germany's cashed out and culture have signed a deal to merge the use of flying revenues for both brands but not everyone is enthused about the plants. for decades germany's two biggest department stores were bitter rivals now often cash start want to merge hoping that together they'll be more competitors of the united spun comes at a time when many traditional outlets are finding it difficult to make ends meet in germany online shopping now accounts for one in every five euro spends. i think they'll be more mergers to come because you can no longer survive on your own i'm certain about that but perhaps

a certain market power will enable them to take on internet shopping. i like going to department stores to try things on especially clothes and shoes the stuff online often doesn't fit is knowing it is important but as long as they know that i'm happy to shop online as it's often cheaper this. girl fall for her starter hoping that the move will enable them to compete with online platforms by boosting efficiency securing better deals with suppliers and cooperating on the just sticks and administration. it's not yet clear how many if any stores will be shut staff are feeling the heat. this is moods been very low for a long time there's a lot of fear everyone's affected. together for five car start operate two hundred forty three department stores across europe unemployed thirty two thousand people german trade union verdi fears thousands of those jobs could be on the line if competition authorities approved the merger ten countries that are part of the

association of southeast asian nations or. for an economic forum. is the second fastest growing economy in the region after china. travelled to the country to get a taste of a nation in the midst of an economic transition. she's carrying on a tradition that no longer carries the economic waste it once did. here and how long day in northern vietnam fishing used to be the main source of income. but nowadays many people have set their sights elsewhere taking corporate jobs and fishing only on the side. vietnam's economy is expanding rapidly the annual growth rate is over six percent and with the free trade deal with the european union jus to be ratified in january that figure could rise.

move sixty five percent a terribly hard search for cation would be standardized within a period of five to ten years one hundred percent of existence our ears would be lifted this would give vietnam an incredible competitive advantage in the region but. this factory in the capital hanoi is operated by german company b. holland it produces medical equipment for the administration of intravenous therapy . devices like these are hospital staple no wonder then that they're sold all over the world this factory opened in two thousand and fourteen and since then the company's invested over one hundred million dollars in vietnam. in sebelius munden clinical investors are welcome here but of course you shouldn't make the mistake of thinking that work the same way as they do in germany you need to familiarize yourself with the local way of doing things i did five anyone considering investing here to go for it but get the appropriate advice.

for vietnam's young population the country's economic expansion presents the prospect of living a more prosperous life their parents did. you think these new. gets of gold or of an amazing sight well is next report will blow your mind a discovery at a nickel mine in australia the chunks of the printers precious metal a huge so big you would be able to stuff your pockets with the valuables and make a run for. a few months ago kind of does our inseam minerals was planning to sell its mine in western australia but it says it is reviewing its options in light of its amazing find. as all one of the. and it was just. called every way as far as you could say more than one thousand

ounces of high grade gold have been found at the nickel not out discovery experts say is immensely rare you market your whole life you never never see anything like it as a geologist as i said you get excited by pinhead it's a say something on the scale is phenomenal the question is is there more gold to be found in the mine are in c. you can look forward to selling the first trial for more than eleven million dollars. if i stay in business with a. lot.

more. on my spine sets off on a mission. to take away votes works as a conservationist help. to protect elephants. here in kenya looters have hunted the country terms to the brink of extinction we're the generation that can take this on and and stop doing. what is fake we have a strategy. three thousand. on d.w. .

germany state by state. the most colorful. the most traditional. find it all at any time. check in with a web special. take a tour of germany state by state on d w dot com. climate change. waste. pollution. isn't it time for good news eco africa people and projects that are changing no one fire meant for the better it is up to us to make a difference let's inspire each other. the

environment magazine. d.w. stay up to date don't miss our highlights. program online w dot com highlights. well on the two globo three thousand this week we are in kenya where a woman fighting poachers has developed a special way of protecting elephants. tropical wood is being locked on a massive scale chinese businesses are reaping the profits. and on the indonesian island of lombok people hit.