i think there is certain safety in numbers for now but what's going no one can say for the confrontation continues so nick thank you so much state of usenet calmly there in minutes. you're watching d.w. news we have business coming up for you next with monica jones time terry martin thanks for being with us. and. language courses. video and audio.

in the. climate change. the soon. to. be years do they have their future. going to dot com for major cities the mechanisms could turn. to towns prime minister is due to step down due to poor health. to announce his decision at a press conference later today is move coincides with japan's biggest economic slump on record we go to tokyo more. also on the show we'll visit the italian port of genoa where. the cruise and shipping industry have run out of steam. and how

the pandemic boosts creativity in business a hotel in india turns its pull into a fish shop. good to be with us now all eyes on tokyo today where prime minister shinzo expected to announce his resignation over health law race stocks on the exchange tumbled more than 2 percent on the news the sudden resignation would come just 4 days after he became japan's longest serving prime minister and the one who coined the term nomics he's always seen themselves as a reformer set on shaping the future japan's prime minister shinzo and his party v l d p won the 2012 election on a platform of revving up the economy and breaking with obsolete economic traditions his main plan was to ease japan's monetary policy the country's central bank set

the printing presses in motion and flooded the market with fresh cash then he installed credit financed economic stimulus programs amin wanted to make japanese society its legal system and labor market more business friendly one objective to get more women into the workforce thereby increasing productivity he called his program abby nomics using other nomics i will increase jobs and incomes and revitalize the countryside while making citizens' livelihoods better. and it worked at least in the beginning abi nomics temporarily boosted the confidence of the japanese economy and japan's citizens but after the initial highs the stock markets in japan plummeted sharply abby nomics couldn't strengthen the economy in a sustainable way as g.d.p. during avi's term in office shows the risks of abi nomics may outweigh the benefits but over leveraging the economy to the point of sovereign bankruptcy. not to

mention the loss of confidence on capital markets. now for more i'm joined by professor jeff kingston director of asian studies at temple university japan he joins us in tokyo good to have you with us you probably just heard our report and saying that the risks of abba nomics outweigh the benefits and from your perspective what did work well and what didn't. well the list of what did work well i think it's relatively short. i think he was good in terms of promoting free trade deal with the he he also risky. but what didn't work he never delivered structural reforms which were the 3rd era of bombay nomics was are supposed to improve productivity he never delivered a woman omics he said he was going to help women shine but that hasn't happened

there has been an expansion of woman's employment but spent in worli a careers and not regular climate so it hasn't really worked out either generally speaking households and all sorts of polls say they're not feeling the love you know they didn't feel the trickled out a lot of people dismiss sabi nomics as welfare for the wealthy corporations and well hedge fund managers well but the average person doesn't see much increase at all in their pay packet and so the general sense of well he has not improved arrive and how big a role is or has the pandemic been playing in all this. well nomics was pretty much dead in the water you know at least 23 years ago really was . so was already in trouble and then last fall he introduced an increase in the consumption tax which is regressive and that really said consumption plummeting

downward and that's the real problem out of and make is that people's income is shrinking a lot of people are furloughed they're losing their bonuses whatever so there's been shrinking consumption and as for people you notice of day that the economic time is going to be gathering over the coming months people are battening down the hatches and eat less and that creates sort of an down word cycle and so it doesn't look too bright so problem for a is what's his legacy up economic certainly failure he was hoping that the olympics might be a feel good sendoff but that doesn't look very likely and so response is surely drawn heavy criticism from the public they don't think he's done very well so he's tired out before we before we deal with our base legacy and we leave that to others well the time being let's look ahead to gives we've spelt out the

problems we spelt out what what hasn't worked what needs to be done to put japan's economy back on track so that the people there feel the love as you said. well the global economy has to get back on track there's a these are things that are beyond what an incredible it's so and so as long as the global economy swooning it's very difficult to project a rebound in japan's economy i think in terms of getting their own house in order i think people are concerned that social welfare. cut under a corporate taxation has been cut that he said the burden of tax revenue this is all a more heavily on the shoulders of consumers and that is depressing consumption so i think what needs to happen is that there needs to be increases in wages for

workers that onus is on a restoration of social welfare programs and perhaps you know some people have been talking about a temporary guarantee in some scheme but clearly the real problem here in sumption is sharply decline all right jeff kingston there from temple university in tokyo thank you so much for your time the talking here. and as some of the other global business stories making the news. stocks plunged more than 2 percent on friday after reports said since the op it would resign for health reasons the nikkei index dropped 2 point to 10 percent after local media reported the prime minister was said to quit meanwhile the japanese yen rose after the appy reports. while not partnering with microsoft in its bid to purchase the us operations of social media head at the tick tock the american retailer said to take took could help it reach customize and grow its 3rd party marketplace and advertising businesses wal-mart's announcement came after tick-tock

c.e.o. kevin mayor told employees he was resigning. the u.s. economy shrank nearly 32 percent of the 2nd quarter historic plunging gross domestic product shows the devastation to the world's biggest economy caused by the coronavirus pandemic economists believe the u.s. is on track for a sizeable rebound in the 3rd quarter after growth began to recover in may. genoa in italy is another major port for the cruise industry and like in japan it's been hard to hit hard by the pandemic ships now stand like ghosts in the harbor but there is a glimmer of hope on the horizon. it can make you pause for thought the view across gender was harbor for decades there was constant traffic here now the calm is almost ghostly vast cruise ships lie deserted during the pandemic no one wants to

travel in them. italy's most important port is clearly suffering right now. going to be the economy italy's economy his contract hit by an unbelievable 12 percent and we're seeing that reflected here in the amount of goods we're handling . the number of containers being shifted in general has dropped dramatically by around a quarter over the same period last year experts say it's a symptom of italy's wider economic situation many goods being handled here come from the country's key economic regions milan cheer in and. genoa has been in the wider public eye in recent years almost 2 years ago exactly the city's marandi bridge collapsed killing 43 people. the bridge represented one of the city's main traffic arteries and its last made access to the port difficult trade started to suffer finally a few weeks ago

a new bridge was opened symbolizing a new start for genoa and italy as a whole. new bridge gives people here hope our city suffered a huge blow but has stood up again. our children and our grandchildren will be able to stay in genoa find work here build a future where a generous woman. yes the city's joy and pride over its new landmark have none the less been dampened the euro zone's 3rd largest economy has been hit the hardest by the coronavirus g.d.p. has fallen to the level of the 1990 s. 600000 jobs have been lost all of which is very visible here in italy gateway to the world. we're asking ourselves how long we'll be able to stick this out when will something like normality return about the people who have

been but the general is a not giving up more than a 1000000000 euros is set to be invested in the port opening it up to larger ships longer trains and more lorries for better times well walk down has meant to many businesses have had to find new ways to make money and this has led to all kinds of tales of innovation allows now to bring you another one this time from india carolyn sunshine is what normally attracts people from around the world to the evader resort but this year the pool isn't full of european tourists it's full of fish. they've been helping the hotel to survive since the collapse of global travel back in march there was not. and later but during the 4th of march there was a lot don't we give up on the radio fish farming because of their having one of the biggest swimming pools in this region. splashing about in the 7000000 liters of

water a 16000 pearl spot fish there popular food in southern india and the middle east the resort owners are hoping to make enough money from them to cover their bills join the closure. of the fish will be sold in november hopefully to be replaced in the pool by humans. i don't know months trying to reserve the pull back the conditions or we plan to open the resort back by the. end of december done with the ok then the staff can go back to feeding hungry tourists instead. and. this hour for me and the team and thanks for keeping us company.

the sentence they've gained hold. is nothing that's the surname and family fled syria 5 years ago and came to germany. caught up with them. how are they doing today. was that hopeful

promise fulfilled. focus on europe. during. the lines the u.s. is on its way to bring you more conservation. how do we make cities scream how can we protect habitats we can make a difference the ideas are a mental series accountable $3000.00 on t.w. and online. alone a very warm welcome indeed to focus on europe with me it's a craven and we would like to take you back 5 years to 2015 when europe faced its biggest migration crisis since world war 2 now the momentous late summer of that

year hundreds of thousands of people were on the move fleeing conflict and economic hardship.