sure, there are no more survivors coming up next. inflation is on the rise in europe and the us, how worried our investors spent as well. and we'll be looking into that on did business in a few moments they would use people in trucks injured was trying to see the city center more and more refugees are being turned away. families to be crated and treated people seeing extreme around $200.00 people around the world. more than 300 new people are thinking refuge. why?

because no one should have to flee the make up your own mind. w. need for mine's me. the germany is said to pass the law, making corporations responsible for where they thought the material critic say is flawed. could block chain technology do a better job of empowering black lead businesses in britain? black pound de celebrates its 1st state, is the initiative paying off as we keep hearing about rise prices as the global economy rebounds from its had demick and juice for stations? should we be worried? i've been physical and let's do business. germany's out the house of parliament is

set to pass a law on culprit due diligence in supply chains. the idea is to make companies responsible for the human rights and environmental standards abroad, wherever they source their supplies. politicians have watered down the legislation . lobby is complaining about the difficulties and costs for big german firms. small businesses for whom the law doesn't apply. taking the initiative to put their own checks and balances in place by using block chain technology, which they say makes the whole process easy. handle with care. this liquid hot metal is solider produced by this tunnel company at its plant in germany. they produce bars the industry as well as household soldiering. wire. stanalin sources, the tin for its soda direct from a licensed mine in peru. because customers want to know what they're buying because it's the way the automobile that includes the auto industry we're come makers have

said they want to ensure where the original raw materials for their vehicles come from out of common. but end customers are also now actively inquiring. of course, there's definitely a much broader awareness was signed, a q r code on the consignment of 10 and the end product when it leaves the factory gate guarantees a clean supply chain. smartphone is all that's needed to trace a product back to its origins. the system is backed by counterfeit proof block chain technology. nathan williams of the mines spider company developed it for supply chain transparency. it's based on a centuries old principal. one old way of doing this was with something called an oxford, where people would represent the contract piece of wood curve notches in it and then split it apart. so everyone who held the word would know that the contract was

true and they could put it together and verified very quickly that the contract had taken place. and that principal also works for supply chains. block chain. the data is decentralized by being stored on several computer systems. any manipulation would be immediately spotted by others in the network. 6000 kilometers from germany, a mine similar to that used by stanos supplies. this one's in rwanda, luna, smelt the mine workers are digging on or to be processed nearby. losing his work is have protective clothing contracts and training courses. something that still unusual for rwanda made up the sand off my knee and the one down. fortunately, still i know mining which lack of stop our money procedures and safety, the safety level is quite pool here. lock chain is also used to record the consignments data in mind by luna is mostly exported to asia and to europe.

back in germany, we meet the companies head. he says it pays to be open about your supply chain. because some lights are probably will be the master that extended. they won't be able to deliver. all you won't be able to sell you. a lot of people won't buy your shares, luna smelter has helped discussions with don all about supplying them with its rwandan tin. the 2 companies at least share a common belief that supply chains should be simple and easy to trace. it still to our corresponded in frankfurt about the conrad booth and kind of why can these small firms make such a difference? while the bigger ones spend more time and money on lobbying to water down a law which originally stood for something honorable? well then, smaller firms are more flexible than large corporations. and of course, it also depends on the sector that companies operate in the company we just showed

in the video, wants to prove to its customers that its supply chain is safe, is safe and been, you know, many smaller and medium sized german companies. the famous german middle stand, they often operate in a competition where price is not the most important feature, but a very high quality of the product. these companies, of course, have an incentive to ad correct and the ethical supply chain to this standards of quantity for them it's selling proposition. it's also interesting to see here, the usa block chain technology, i mean, yet another use a block chain technologies not just thought about because it is absolutely. and it's going to be interesting to see whether this new technology can keep up to its promises. of course, it allows for more transparency because you cannot simply add or change data after

it's been entered into the computers of the block chain, at least you cannot change it without everyone else noticing it. but then, you know, this doesn't protect against criminal attend, of course, people who want to fool others will probably find ways in the future as well. and take, for example, change in china, where many weak was exploited in the textile industry. will china do any changes? because of block chain technology exists, or because germany parts of the law and the question i think will be debating this one for a long time. hope you get in read this not upset that complains that black business owners in the u. k. only attract one and a half percent of the venture capital. it's the reason black pound day was brought into being exactly one year ago this weekend. holding on the 1st saturday of each month, it encourages consumers to spend their money locally or online at black lead businesses

. london's bricks and district is renowned fords multicultural vibe and myriad small businesses. one and 5 of them is owned by a black person. like this small bookshop, black pound day is aimed at getting people to buy from places like this, at least once a month, locally or online. it gave this shop a huge boost. we saw an increase probably of anywhere from 150 to 200 percent in a very short period of time and was that's amazing. it was also completely overwhelming. we are a small store physically, small team to deal with that number of orders was trying. the idea of a black county came from rapper and activists swiss. he wants to strengthen the black community economic power. i just said, you know, could you imagine, you know, if we have a black pound a day where we, you know, it's spent, we've got businesses and try to build up our, me any place where that people are considered

a minority and economically disadvantage, that they can what they jocelyn may know is how hard it is for a black business woman. she started out 10 years ago with hair care products designed for the needs of black people. didn't have the network to, to raise the friends or family around, you know, we didn't have parents give us money. we didn't have a rich uncle on teeth. her customers were the ones who helped her start off become successful black pound. they could give her and others another welcome boost. europe in the united states have a growing problem. inflation, as their economies recover from the pandemic, factories are struggling to source material. they need to meet demand, forcing prices up. just look at how inflation has increased in the euro zone since the start of the year. european central banks target is to keep it at an annual rate of below 2 percent. but as you can see there,

it's already reaching that and going beyond the situation in europe is nothing compared to the state of things in the us though, which has seen inflation such from 1.4 percent of 5 percent. since the start of the year. prices are rising at their highest rate since 2008. the assumption among some invest is, is that this is just the blip, but the knock on effects could still be significant. chief german economist at dodge, bank, stefan snyder joins us. the i m f says we need to be watchful, but that this is going to be temporary. what do you reckon? i guess that's what the organization like the i m f and most of the central banks like the the have to say because the last thing they want to get market cared and interest rates going up massively. because that would then, obviously in the recovery, i think overall for the time being you mentioned some of the argument, you have strong increase in energy price with the supply shortages. and we are just

having issues with the world economy, the global supply chains falling back into think so once this is achieved, some of the price pressure might indeed lower, especially given that you look at europe over all the utilization of the economy and the unemployment rate speak again, any permanent price increase. i think it might be a slightly different story in germany. so how's it going to be different? here's stefan. in germany, the, the shock from the pandemic was much lowered. the aqua gap didn't open as much as they did in other countries. the increase in the unemployment rate was more benign compared to the rest of the years. so we can see that there is probably a bigger ability to increase prices. and if we look, for example, at survey data, we see that basically price expectations selling private patients of companies are

at the old time high by the wide margin. and the concern is that all the wages for the time being very low that wants the labor market cruise further. the unions and workers might offer compensation, given that, that model or hardly any wage increases during the pandemic. and could that lead to a permanent shift in wage settlements that a higher it could probably be to something slightly different on a permanent basis. also, given that there are some structural trend which are probably adding to inflation. one is the 18th society over all the freight and labor force and germany, which is already felt in the labor market, the famous customer, the lack of train people. and another one is obviously the push to see or to know trinity. i mean this already at the quarter to quarter central point of germany station and given the ambitious targets of old party in the federal election,

i think the impact or energy prices hence, is basically will be higher. just shifting our focus to the world's biggest economy . what do you think federal reserve policy makers is split over the bigger risk to the world's biggest economy of larger jobs deficit or a potential inflation shock? i think it's in balance and for the time being the use the same in the us that it's only a temporary thing. but given that the us basically imply that g d p in paul fiscal impulse of 40 percent of p d p which it basically cannot compare with anything in history. i think the risk that we will get is serious overheating in the u. s. economy and hands, a strong pickup, inflation is much higher in the us than in europe. and even in germany, german economist, the dodge bank stuff on snyder. thanks for being on the show today. you're welcome . and nice doing business with you.

the news? ah ah. busy finally, he can take the trip again. ah, my normal in 9 days is doing his 99 pilgrimage on the way of st. james during the virus pandemic with close to thousands of pills use now, minority has rediscovered his why do these? because the way of st. james is a journey, not a destination. focus on europe, w. they want to know what makes agenda

love. banning thing away, but i'm not my own. everyone was later holes in every day. getting you ready to meet the german, then join me, rachel, do it on the w. two's a warm welcome to a brand new edition of focus on europe. my name is liz show, thanks for joining us today. for many women from west africa the dream of coming to europe often and in a night.