alright, coming up next, the wild ride of bitcoin ben facility has more than the crypt currencies up and down. that's coming up in just a moment on the w business with us. the news news can they know the police will stop them? they knew that the route is not

a solution. they know their flight could be fatal. going back, he's not an option. peace ma, i'm on and the other day are stuck in the spanish border area. alongside other young people there waiting for a chance that will probably never come. shattered dreams starts june 18th on d. w. the the asians don't follow wall street lower. the fed hinz that raising interest rates sooner rather than later. but when exactly, and what will that do to the global economic recovery? i see the dollar surge hurting crypto currency, big coins, it's below the $40000.00 mark ways. and

tom produces all the south african delicacy want to trademark their products internationally. it could mean big box, but it won't be i, because all the business global stuff markets have made an amazing recovery since the great pandemic plunge. but when will the real economy be in a good enough state to bolster the 1st post crisis interest rate hike? the u. s. federal reserve had pencil the in 2024. now policy makers in the case they'll raise rates twice by late 2023. we've still got a bit of time to prepare, but higher interest rates can put pressure on mortgage holders and discourage corporate borrowing. and expansion during power has come under pressure to tighten monitoring procedures. prices. you also want to encourage job growth by keeping rates low for as long as possible. well, but the federal reserve definitely set is that they don't play the inflation risk

at least for now. and the other side, they did state that the labor market is by far not where it used to be before the pandemic started. but to fetch here jerome paul actually did say that there could be further massive improvements in the labor markets in the months to come. so that it's a clear message from the federal reserve, at least for now, the monetary policy is not going to change. they still see inflation pressure to be temporary and the labor market, not quite there by the fed, would like to be let's get the european view on this with chelsea delaney in germany's financial capital. chelsea how trade is here reacting to the prospects of earlier right rises one investor called us a wakeup call for markets, but i'd say it's a very gentle wake up call from the federal reserve. basically what the fed is saying is that they will potentially in 2023 raise interest rates,

but they are going to basically keep monetary policy very accommodating for the time being. so we've seen a slight reaction and markets the doctor in for a grant is likely to fall a little bit at the open today. the s and p fell about 0.5 percent yesterday, but these are very modest declines. so investors clearly are not too worried yet about the fed turning off the top of the financial policy will isn't a little bit too early to know what sort of state the world's going to be in by late twenty's. yeah, of course there's a lot of uncertainty. one reason the fad is, is saying this now is because they don't want to shock market and have a situation like the 2013 tim paper tantrum when markets weren't expecting a pull back of monetary policy. and we saw a lot of volatility, so they want to give investors as much heads up as possible. but of course, there are a lot of things that could change. and the next couple of years,

the 1st and foremost of course, the pen demik, the fed seems to be betting on no real changes in the pen demik situation in the us . but they're still very, of course, more aggressive variance and the fact that many americans won't get vaccinated. so that could all change as well. you cannot make outlook, it's still very mixed in the u. s, the fed expects inflation pressures to be temporary, but we really don't know if that's the case as well. the u. s. job market is recovering a lot more slowly than people had expected. so still about 8000000 jobs missing from before the pandemic. something to any person, franco, thank you. now let's take a look at some other business stories making headlines. germany export in just under 6000000000 euros worth of we're bins of military equipment last year. full of more than a quarter compared to 2019. that's according to government report. it comes a bit, fee is that german weapons could be ending up in the hands of human rights abuses.

germany's biggest customer was hungry, followed by egypt, israel and the united states. the revenue have kicked off by dance more than doubled last year to $34000000000.00. according to the wall street journal. at other schools, the video apps massive global reach over all that posted a loss as the company was forced to compensate stuff with shared dividends. and european commission president also found a line as green lit portugal 16600000000 euro pandemic recovery fund. first such approval in the block, the proposal aimed to help portugal move forward towards a greener and more digitalized economy. the money will be distributed in grants ad credit. bitcoin is looking a little common today, but the question is, when will the roller coaster ride continue again? 2 months ago the crypt currency was worth nearly $65000.00. now it's trading at below $40000.00. that is basically 40 percent less than where it

was trading in mid april. could say it's speculation and investors should stay away, especially because of that volatility. well, the virtual currency has been on a wild ride. it's more recent highs and lows, those subject to the whims of entrepreneur a long musk who support or criticism a big coin can drive out the price or send to tumbling. that's bring in economist maurice haskin who says bitcoin is the digital version of gold only worse. why? why is that? because i saw the goal was a pretty safe investment rates. well, well thanks for having me on the show. that is the gross bitcoin is the scars and it is a scars commodity. and scars to means that it is fixed and its supply. and that is not a good characteristic for money because everything that is scars can become quite

wall tile, which as you mention is definitely the case for bitcoin. you mentioned the roller coaster right. and well that, that might be of interest for investors, but that doesn't add value to the real economy because if the price is quite well entire, then investors don't know and especially firms don't know when to invest. and i also think that bit corners have faults of all the theory of money behind the old project, since they see inflation moderate inflation as a risk. and they think that deflation is a good thing for the economy, which is definitely not the case. the fact is that the more or more companies starting to use bitcoin as a means of payment el salvador has even recognize that as the official currency. it sounds like it's set to become a global currency. whether or not those criticisms of yours have some sort of basis

. well, 1st of all, as someone who is a very small country and they just do it, i think for financial inclusion reasons, which is okay. but i don't think that developed countries will start to accept the bid going as, as official currency. because, well, they will be highly problematic because if money is scars and taxes are not only paid and the rear currency such as the euro of the us dollar. but also in bitcoin then countries do constrain their spending capacity. and that isn't the good thing for, for country to, to, to do now marie's besides bit coins, financial instability. a lot of us know the mining, the virtual currency eats up a lot of energy. but what do you think of the effort to improve its carbon footprint with clean electricity?

well as long as we do have bid going ass speculative object, i think it's a good thing to do because i think it uses the same amount of electricity at the moment such as i didn't tina. so the whole country so very wasteful. but overall, i don't think that the block chain technology, which is good in itself, it's a good technological innovation is necessary for a currency because the decentralized and and honest process isn't very, isn't the characteristic that money or currency needs. maurice, give us your take again. where, where do you reckon bitcoin is going to be in the next 5 years? i know it's a big question. hah. and to accept tough to say, well, there's a whole called her own bitcoin and well it can go even higher in its price, especially if in math i can comes back on the show again. but well,

it can also go, go the other way and for quite low in its price. and i think over the over the long term bitcoin will fail because of its faulty characteristics or construction. and yeah, so my, my bed is it won't become official currency and it won't play a big role in the years to come. economists are, is, have, can there. thank you very much for being on the show. good to talk to you. thanks a lot. now talking about ups and downs, native protein boost. how about chewing on an old, dried up piece of meat? analysts say a global market boom for jerky during the pandemic is set to continue. and south africans, once you really cash in on the surge by trade marking their own special recipe internationally here. so african favorite is being made built on his beef

marinated with a mix of spices, salt and vinegar. it has been dried for several days, which gives it a unique, savory taste that has become popular all over the world, hoping that uniquely. so there are 4 more pursuits, all on even call it sort of what we find that to be copied and all over the world at the moment. under the name, we feel that both should be protected as a service. and product factory alone produces 40000 kilograms of built on each month for the local market to capitalize and surging international interest. so the african producers want to trademark built on and prevent manufacturers and other countries from using the name for experts warn it may be too late. is

a very popular term and a popular product. i mean, if you're looking to try mortgage to throughout the world, there are $200.00 applications, including the total indicating effect or on 15 and other states, $37.00 in the you k. this is very popular and the question for the challenge really is to put the genie back in the bottle or able to resist this and encapsulate this term and on it. local products, like roy, buzz, herbal tea, already internationally, trademark. so that's where we're adding built onto the mix, won't be easy. so that can be, can only be exported once. it has been approved by local officials and undergone stringent testing by authorities abroad. that means built on has a hard time reaching potential international market. what we're looking for is essential protection of producers got for portugal and champagne producers got for france. we're not going to solve our problems, getting our products exported, but we at least might get a 14 little trade marketing is complex,

but the struggle with african economy would welcome any potential boost in exports . at a quick reminder of our top story, this, our, the u. s. federal reserve could raise interest rates twice by late 2023. a pound is un depression, to type in monetary policy due to rising prices that he's holding off this year. and next encourage job growth and businesses use it's a brave new world, post corona virus. he's an inequality, home office and lonely poverty. the economy. pages in life, in frenzy, online shopping, conservation vaccination, sterilization safe and sound. when that field you everything. what kind of like just waiting for us after corona and are we ready for us?

i mean, engine on dw ah, what matters to us? mm. that's why we listen to me reporter me every weekend or on d w. ah ah ah, ah, inflation is urging, as many countries emerged from locked down, that could see interest rates rise sooner than expected. and that could hamper the global economic recovery. but just what sort of recovery is it going to be?

because a lot of nations are still struggling with the crisis. they don't even have the vaccines yet. some economists are predicting.