tv Business - News Deutsche Welle January 12, 2022 7:15am-7:31am CET
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publish her finding soon, and we'll know if this was one party too many forbores johnson. before go, a pink dolphin has been seen airborne over columbia. columbia's armed forces helped rescue team transport a pink river dolphin, trapped in a shallow river in the east of the country. in a 20 day operation, the army joined conservationists and veterinarians to capture the aquatic mammal and air lifted to a larger tributary of the orinoco river. you're watching dw news from berlin up next. the world bank issues a start warning about the global economy in 2022. that's in business. thanks for watching. ah, my 1st vice, i was a sewing machine. i come from,
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women are boned by this ocean, given something as simple as learning how to write a vice. i vote isn't since i was a little girl. i wanted to have a bicycle off my own, but it took me years to life. finally, they gave up and went to by noon by psychos, but returned with a sewing machine sewing, i suppose, was more appropriate for girls than writing a bite. and now i want to reach out to those woman back home for bone to buy their duties and social rules and inform them about that basic rights. my name is de about oklahoma, and i work at a ah, booming debt levels, soaring inflation and new coven 19 various. the world bank is sounding the alarm
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about the long list of risk for the global economy and the new year. the world's forest countries are most, are breast also wanted to show storing inflation as piling pressure on to the u. s . federal reserve. but we'll controlling prices mean putting the job market ice will go to new york for analysis. and swift scientists are turning to one of the world lawless life forms to help cows relieve fewer greenhouse gases until to delaney and, and berlin. welcome to the show. the global economy has staged and impressive come back from the historic low of 2020. that's according to a new report from the world bank released tuesday. after contracting by more than 3 percent and 2020 global g d p growth came in last year at 5.5 percent. as you will see here in just a 2nd this year the world bank is also expecting improvement of just over 4
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percent. now that's the good news. the bad news is that this recovery is not being evenly shared. the economies of developing countries in particular are recovering much more slowly and asia, the middle east to latin america and africa growth in 2023 will be significantly below the long term pre cova trend. now, poor countries haven't been able to spend as much as advanced countries to cushion the impact of the pandemic. the world bank is warning that another 100000000 people will fall into extreme poverty this year. now for more on this, let's talk to francisco own sorta, she is a manager in the development prospects group at the world bank. francisco, thank you so much for being here. so the world bank has called this a inequality pandemic. why have we seen such a stark divergence between the world's richer economies and the world's poor?
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yes, it is a stock drivers. we're heading into a very pronounced global slowdown. as you mentioned already, before this recovery is complete, an emerging market next year. after 3 years of recovery and emerging markets, developing economies with 74 percent, a lot of people that attend, i did want to call me back to try and make it up. so it says if the and emerging markets of developing economy is well last night from advanced economies. and the reason for that is in good measure because of different policy support. both groups of countries implemented extraordinary policy support fiscal and monetary in 2020, a sort of identity, but emerging markets developing called me so i've already started to withdraw it more than one 3rd of already type on a policy. i didn't 60 percent of them already lost here. fiscal policy was
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a driving role that will only become more pronounced as we go forward. so the world bank has also mentioned vaccine and equality as a big issue for a lot of countries. now that vaccines are becoming more widely available, do you expect that to be a boost for developing economies this year? yes, brought up, maxine rule out is something that will help global growth and it has been progress about at this point. about half of the population, the average gmc has been vaccinated. the ones that are really lagging behind other low income countries, slowly about 7 percent of the population have achieved. have gotten one shot increased, but until vaccinations rolled on even more broadly to all the corners of the world . leave it open for you to imagine how we come to simply remind off that absolutely . this report also really points to the growing doubt levels among all countries advanced and poor developing countries. how big of a risk you see that as
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a to the global economy this year? yes, the risk of financial stress is a very real risk to global growth. and it could be triggered by any number of events, and these events are becoming more likely. it could be triggered by faster than expected policy tightening advance economies. it could be triggered by credit even imagine, marcus, it could be to fight expectation off these things. any of these events would raise financing, cause could cause capital all trust because captain altro, so we've seen already put me emerging market and could cause depreciation. and the problem is that currently emerging market developing economies are particularly vulnerable to this. they're valuable because that is much of the k ties in addition to vulnerable because they have very little policy room to intervene and support the economy should go. should anything go wrong? so not only on the law, flight path is almost as if they were playing also the gas off,
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and you almost empty, very little room to support francisco. and so at the world bank, thank you so much for joining us now in the u. s. high inflation is posing a serious threat to the countries recovering job market. that's according to testimony from federal reserve chair jerome powell, on tuesday in front of the u. s. senate. the fed will consider additional interest rate increases this year on top of the 3. it already has planned and 2022. if consumer clients prices continue to climb. we know that high inflation exactly toll, particularly for those less able to meet the higher costs of a central's like food, housing, and transportation. we are strongly committed to achieving our statutory goals of maximum employment and price stability. we will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched. now yes quarter our correspondent in new york joins us for more years. pow husband
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insisting for a while not that the fed was going to move very cautiously and moving and pulling back the stimulus. why a few changing his to now? yeah, well i mean, you don't always get what you want. the problem is that those inflationary tendencies seems to be lasting much longer and are more elevated than the federal reserve side coming in the past couple of months. by the way. it's also not the 1st time that the federal reserve is not picture perfect with their estimates. we will get the latest reading on consumer prices. now on a wednesday end of economists are right. we will see the steepest them increase in those consumer prices in about 1040 years. and that's why the federal reserve for these the urge to act by the way, not just with increases of the interest rates, but also with lowering the balance sheet. meaning that pretty soon the fed could even start, not just ending the bond buying program,
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but actually actively start to sell bonds organs. there's clearly a balancing act here for the fat and every other central bank where they want to really reduce inflation without hampering the economic recovery. we've heard on power talking a lot about the job market, not undermining the job market. but is that really a risk given that unemployment was below 4 percent and december? i mean, the more you increase interest rates, for instance, the more likely it could be that you might start the recession and that could actually put pressure on the labor market. but overall, if you look at current statistics, we have an unemployment rate of 3.9 percent. that is a very close to the 3.5 percent that we saw before the per day may kit and that so those 3.5 percent, while the lowest unemployment rate in about 50 years. but clearly those statistics do not show you the entire picture. we are still shy about 2000000 jobs
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in comparison to predict dynamic level. the participation rate and the labor market is pretty low. but i would say at this point, we also have some structural issue with why we are not a 100 percent where we used to be on the labor market before the pandemic started. so i would say with monetary policy, you will only have a limited effect on the labor market at this point. and quarter new york. thanks so much. now the beef and dairy industry is a major contributor to global warming. that's thanks to these guys. cows, as they just do, they, in large amounts of methane and switzerland. scientists may have found a way to make house less gassy and better for the climate. the substance could be the solution to the methane problem with cows. billions of tiny micro algae are floating in these vials, probably, and violet and his team from the swiss competence center for agricultural research
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and ban are on the lookout for a very specific algae. one that tastes good to cows, and at the same time stops the process of methane production in the cow stomach. the amenities yandy. i analyze the algae for its nutrient content, hallett, and we can actually simulate the digestive system in the labs. we can test small amounts in the lab and to see whether the algae, as the potential to reduce methane emissions. analyst was to wait. it's here. there are 1500000 dairy cows in switzerland. each of them releases several 100 leaders of methane per day. once the scientists have found the right algae, mass production is set to begin up. it could take just a day or 2 weeks for the algae in a bio reactor like this one to be ready for harvesting. the plan is for farmers to install bio reactors on their farms and produce their own feed farmer. martin hooper knows all to 70 cows by name. he makes
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a living from their milk. but he also wants to do something for the climate and is open to innovative ideas as an industry, if the cows will either end up, then it would actually be a great idea. and, and then cuz when need an additional protein source that can replace the rigs eating clearly, so it would actually be a double benefit on out in europe. so that's it. and so i, on the one hand, i v algy smithing reduction. i'm side on the other hand, a new source of protein after on the inside there and the protein coil it. but it's not that simple. 2 years ago the algae spirulina was ended to the feet of dairy cows on this experimental farm. as part of a space, the result good and bad at the same time. ah, yes. and the algae very well, which means they weren't deterred by the flavor of the milk, the name chain for you as animals at the end was also good as well, which i didn't have in my fishy smell, mac. but unfortunately,
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i didn't find any effect on methane production because i'd of that missed mitten. thanks. but researcher fabian val is not deterred. he's confident that he will find the right algae sooner or later when, if we're lucky, we'll find them in 3 months. if we're unlucky, it'll take longer that, but we're absolutely convinced that we'll find it eventually. we'll come to the lab every morning and keep working on it. the researchers hope that the pilot phase can begin in early 2023. then the 1st farmer's will test, algae is feed, martin hampshire hopes to be one of them feeding his cows while helping the climate at the same time. thanks for watching. ah in good say. it's time to place for it. but when exactly
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early risers in night hours are put to the test. timing is a key. and so if method in good shape. next on d, w. keeping an eye on grandma, china seniors are well monitored by robots. what are they also? well taken care of? it's a matter of perspective. china is using robots to help the elderly because many of them live alone and need contact. but is this model the right solution? close up? in 60 minutes on d, w o
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