there's a simple solution for a serious problem. likud have for god in 60 minutes t w. i'm david and biz is climate change. group happiness 3 books. this is the book for you. to get smarter for free when you go on you tube. is the wave of debt towering over the global economy that's the warning from the world bank low even negative borrowing rates are to blame but considerable banks really afford to change course. also on the show we'll introduce you to a cuban cooperative making furniture out of an unexpected material. and it's 2000 years old and ready for

a comeback. affirmatives he packed with profile onyx is taking its turn as a superfood. this is your business report i'm stephen bears in berlin thanks for joining us a wave of debt in developing nations has grown faster than at any time in the last 5 decades and could trigger an economic crisis that's the warning issued by the world bank on thursday developing countries racked up a towering $55.00 trillion dollars of debt by the end of last year encouraged by low borrowing costs in the in the wake of the global recession if interest rates rise again making that debt more expensive to pay off it could be devastating the organization says. the concern about debt was one reason given thursday when the world's oldest central bank ended its 5 year experiment with negative interest rates sweden's reaks stock hiked rates by a quarter percentage point on thursday to 0 percent 3 wks bach adopted negative for . and 2015 charging banks for holding on to their reserves to encourage lending

move stimulated the economy but also pushed up household debt and weaken the local currency thursday's decision is certain to be watched by central banks around the world where negative rates have become become more popular in propping up sluggish economies. and for more on this let's go to our financial correspondent in new york he ends korda. yes we just heard of some of the pitfalls of negative interest rates and yet we know that in the u.s. where you are president donald trump has pushed for negative interest rates why has he been so vocal in favor of them. well everybody doesn't so donald trump once it's true no but the thing is that so many central banks on the planet do have negative interest rates and was the u.s. having higher rates that actually pushes the dollar higher and higher dollar is bad for exports overall and an old saw the hope and the thinking of the white house

probably is with a lower rate you get more stimulus money to corporations so they can invest more and even get the economy even stronger than it already is even if we look at. japan that this trick has not necessarily worked so a bit cheaper money really drives companies to invest much more now and yet the fed has cut interest rates this year 3 times already is that possible is it realistic that they could go down to 0 or negative. well at this point it seems unlikely but well nothing is impossible ended a lot depends on how the us economy is doing let's just say we should into a recession doesn't look likely at this point for 2020 but let's just assume that what happened so that actually could drive the federal reserve to cut rates further

even if nobody really expects 0 percent interest rate here in the u.s. and in time soon and then we shouldn't forget those negative rates have a lot of negative impact just to name one pension funds for example have a big problem because if there is 0 interest or even negative interest pension funds have to find different ways to invest and if you find different ways you take more risk and more risk could eventually also lead to some fallout so actually there are some really some real social consequences with the entire social system at stake but at this point we really would need to see a stronger recession so that interest rates are getting closer to 0 at this point the federal reserve last highlighted that they do not really plan any changes at all in 2020 or in the u.s. with a little bit more room to cut those interest rates compared to some other nations

quarter their force in new york thank you. a cuba is famous for its inventor who bondo a creative ingenuity that defies material shortage and here's an example a cuban cooperative that's creating furniture out of plastic waste. they've been collecting plastic waste for a year and they've managed to amass 6 tons of it the state's sanitation department as well as private organizations provided another $300.00 tons to the base or $83.00 cooperative the members of a 3 term they used plastic into a lumber substitute called. or eco would they use it to make furniture benches as well as baskets kiosks and even bridges. through the cycling of waste such as plastics we found a solution for obtaining the raw materials that we didn't have at the time there was a shortage of wood and other things were difficult to process we've made an environmental

impact by upcycling the waste. the eco their products are designed to last for 50 years they've even been state certified but at age 3 it's plain to see that it's not just the raw materials that are lacking in cuba the machines like the mills that grind up the plastics are often too old and don't perform well enough but 83 is not thinking of packing it in just yet. to present them with the steps that we're taking and i think we're pioneers. who to many who operatives will follow self employed based on the same principles i think it's a great solution for our society among a few nice clients our government ministries and local municipalities soon the cooperative plans to start processing waste rubber glass and paper. to asia now where hong kong's once mighty retail sector is facing a gloomy christmas the retail so season says over 10 percent of the territory's

retailers. thousands of shops could close in the next 6 months behind the bleak forecast economic uncertainty due to those ongoing democracy protests. hong kong is legendary for at shopping but the scenes of mayhem in a hong kong shopping mall just days before christmas show why there is little festive cheer for the territory's retailers this year. protesters are taking aim at hong kong's key retail sector to press home their demands for democracy. district elections last month showed strong support for protests but the demonstrators have disrupted christmas shoppers and clashed with police. and uncertainty about hong kong's future means that the mood among those who do venture out to places like times square is bleak. that the day you expand us and before this because you were during to have a situation says i think some of us. know such as christmas was to go by and

if it is not safe to go out yes and not happy at all we are not very in a mood and yet hong kong this is a really hot moment yet. pacific place is normally packed with bargain hungry consumers from mainland china and local buyers getting ready for christmas much of the protestors i'm sure has been focused on china's increasing influence in hong kong and mainlanders are staying away. retail sales fell 25 percent in october the steepest drop on record christmas sales are expected to hit fresh record lows retailers are worried about their future. $7000.00 shops out of $64000.00 in the asian financial hub could be forced to close down in the next 6 months. and the other year tourists would pack out the star ferry to crowd the shopping magners at

. across hong kong harbor but this yuletide the mood is muted. with a wave of closures looming hong kong's retailers fear the writing is on the wall. would you drink something called team mushroom it's a firm it's the originally brewed in ancient china and you might have actually already tried it as a drink that's gaining worldwide popularity after 2000 years this is green tea on its way to become income butcha a culture of bacteria in east is the magic ingredient here from entity may look somewhat dubious but alexander the cutie cup is betting on it he's one of the founders of tarried to come the company currently only produces around 4000 liters of the drink per month but it's hoping to expand. to make a mainstream drink drink that everyone knows about and can find on a fortune. in the soviet union was mainstream people grew the

drink in their kitchens it was known as the teen mushroom kitty cup still experiments at home with new flavors for kerry book he and his business partner john founded karibu and 2016 as the 1st russian computer company they still try to use mainly russian ingredients for their flavors including juniper berries and pine nuts and they add a healthy dose of nostalgia as well. well. as a kid we always waited for our grandmother to pour as a glass of fresh washroom she cool it down a lettuce try it. it was only after the fall of the soviet union in the ninety's the fountain and coca-cola and all those carbonated soda started pouring into russia will be there on the picket now campbell is experiencing a revival in russia around a dozen mainly russian companies sell the drink in the country but memories of the team mushroom don't always help complete just sales i do that because bush is

a drink made from tea mushroom i haven't heard of it i've only heard of the team mushroom yet i won't risk drinking something i don't like the look of but car makers are hoping russians can see beyond the surface after all the tart probiotic drink has health benefits and analysts say internationally sales are worth over a $1000000000.00 and they're on the rise. of the market is huge because in russia people are increasingly interested in healthy drinks and healthy food and in a healthy lifestyle. baffled by buffalo oleksandr q cuffing wants to convince russians that this soviet classic has really turned the corner. that's it for me in the business team thanks for watching 3rd.

show hello halflings this is you speaking when i come to the show with the. hottest concerts with the instruments guests. it's just so.

welcome to. see w. . and gemini live. at any time any place. kept out of the crowd. to sing along to just a combo. of. interactive exercises. everything is online. interactive geminids a frame with the w. soon

. to be. discovered. documentary. many of whom will recognize this looting melody greensleeves a traditional english folk song that dates back to the 16th century song here by german countertenor and. it was accompanied on piano by his wife israeli pianist

tamada had pity in today's guest on arts and culture. and with that welcome to the program twilight people is the new album by and saw and tom petty in a collection of songs arranged for countertenor and piano a very introspective atmospheric listening experience a let's learn just a little bit more. all right. tenor and they are so its voice is haunting against his wife tamara how elegant piano work on the couple's new album twilight people.