even manual labor's work from home loan. welcome to the show. i'm seeing beardsley in berlin. it's good to have you with us events in ukraine or threatening to overshadow it. but a g 20 conference in bali is focusing on another pressure facing the global economy . rising prices, finance ministers from the group of 20 leading economies focus for is focusing today on policy tools to bring prices down. hearing that rising inflation will undermine wages and make new debts taken on by governments. during the pandemic, harder to pay down indonesian president joker with dodo open the 2 day conference on thursday, with a call for de escalation on ukraine's border. and i'm joined now by aero y'all chain. he's an economist and professor at the constraints, university of applied sciences at all. it's good to have you on the shows always. let's start with inflation. this is the focus today for the g 20. what is the danger of inflation for normal people around the world? well, there is a broad consensus that we are in

a time period. very inflation globally is an issue, but i think it's very important in particular, when it comes to the g 20 countries. that when it comes to the question of how the central bank should react, we have very different options and perspectives. just to give you some examples in do you asked, for example, the federal reserve clearly indicated they don't consider the inflation to be only temporary driven by corona, all white energy prices is because of a, basically a to fast growing economy. and therefore, interest rates will be increased most likely in europe. on the other hand, the central bank has indicated that it considers to inflation to be temporary driven by high energy prices. and then we have a 3rd group. all countries emerging economies like chocky, we're inflation, is tremendous and you really, income is continuously declining. argentina is the same problem and there it's a bad management and the central banks have likened turkey indicated they're not

really going to increase interest rate because they are concerned about and making the economic growth that even more the slower given the terrible situation like in turkey, so the g 20 meeting is confronted with very different interests and concerns. and my concern is the u. s. has a key role here. if, if the fad is going to increase interest rate. this will, of course, increase the capital cost globally on the market. and that will increase costs also for emerging economies like argentina, developing countries like in africa when it comes to refinancing, jahan and those debt levels. also a very big concern of this conference. a janet yell in the us treasury secretary saying, i'm in relation to this conference that china has a greater role to play when it comes to providing debt relief to those countries the we're just talking about, for example, those emerging economies that have piled up the debt does she have a point? well, she has a point, but if we look into the statistics, i mean,

it's very important to mention china when it comes to the volume of that thoroughly . actually, what are the country which has a gap relief of $2000000000.00 over the last 2 years, in particular, when it comes to risky countries. but her critique is not about the volume. it's more about them missing the lack of coordination when it comes to restructuring down the call program. here is what it's very important to mention that the western countries, including europe and the u. s. they restructured out under the shelter of the so called paris cloth, china, though the permanent member of the parish club and his using its own institutions like the export import bank or its development bag. and what happens actually is that when it comes in a globalized work in central africa, for example, death is nowadays very complicated. the structure and it is required that china

should call great also with the best in countries at all. but it doesn't. and yet i just wanna interrupt here by pointing out that china has actually rejected these accusations and said that, that more needs to be done by private lenders, especially those in the west. and it's not alone actually in this point, or the world bank has been trying to push private lenders who own many of these bonds for, for example, in african countries to make concessions. they haven't been budging. so doesn't china also have a point when it comes to who is going to make concessions on that debt? was 2 points on this, statistically this, this, this claim is true over the last 10 years. we have seen in african countries in particular, that farms in the capital markets have been increasingly used by african countries to, to acquire capital. but on the other hand, the 2nd point is, is we need to bear in mind that a china is a centralized economy with a publicly own institution. so a large extent of china in

a daft which is flowing into african countries is governmental, money, steel. so again, i come back to my earlier point, it's true that private investment has increased and private deb has increased in africa. but the coordination between china's a governmental institutions and private lenders is lacking. the paris club would be the perfect place, but china is not a member of this notion. and sir, this lack of coordination creates a problems for private bank, for example, if they would relieve without china coordinate with china. and that will f ramblings will be suffering and problems will increase full of to leave it. there are doll y'all, ching constants, university of applied sciences. thank you very much. thank you. or that discussion really focusing on what debt means for the lenders. but what about for the borrowers in this equation will heavily indebted developing nations construct a pay off what they owe,

reducing investment and slowing economic growth. just look at sri lanka, the countries debt accounted for 85 percent of economic output in 2019. that rose to 104 percent last year, but so bad at the rating agency, s and p has downgraded his credit rating at the beginning of 2022. fitch did the same at to the country at the end of last year. now as results relock, it is effectively cut off from international dep markets borrowing. in other words, is just too expensive. that in turn undermines the currency and helps drive up inflation within the country. and within with price is spiraling every day. items in sri lanka are getting more expensive. now, a new rule concerning fertilizers is making even locally made. staples hard to come by. take a look preamp there. roger pox have from sri lanka has been a rice farmer for 25 years. the whole time he relied on artificial fertilizers, but many people have gotten ill recently, and the government suspects a connection to the chemicals being used in agriculture. 6 months ago the

fertilizers were banned something roger pox. i can't understand. i've got a bargain. i farm about 20000 square meters. i did with you that i, we used to harvest 35 bags of rice from that other had. now it's just for bags all because we can't use chemical fertilizers. i'm incredibly angry with the government . the won't. the longer the lower yields, due to the fertilizer band, are exacerbating the already tense economic situation in the country. krishnan push pin up and has a small store where he sells rice, but fewer and fewer customers are stopping by. oh, i would estimate that 80 percent of my businesses gone, maybe even 90 percent every day the prices are going up. oh, you can't even be sure what a product will cost the next day. not gonna follow quoting debo, that would the high inflation rate in the countries already. huge mountain of debt, sri lanka is on the brink of economic collapse for months now,

electricity has been failing again and again in many regions, and many people barely have enough money to afford their daily meals. they say he ordered shaw date for, for him to serve as long as struggling with the huge debt lot, anna, experiencing, and short edge for essential items then inflation, the soaring, these are the factors affects the day to day life of the paper, personally, a crisis that pre anther roger coxa is experiencing 1st hand. he doesn't know with the future holds. he is as good is broke and can hardly even buy food than that they alone. i'm 200 euros in debt. normally i can pay that off with my harvest, but how can i do that now? i still have to look for a 2nd job. i don't see a way out of my situation. his rice may be healthier since the fertilizer bad,

but brianna, the roger pock sir, can no longer live from farming entry lunches. current economic crisis could 2020 to be the year of the exoskeleton of the mechanical suits allow wears to lift heavily heavy objects rather more easily without putting additional strain on say the back or the legs. well, that's just one innovation that's changing the way workers interact with their workspaces. take a look. oh, could this be the future world of work? an invention that merges people with machines. the artificial exoskeleton. it's a kind of suit that increases the workers strength at the same time, it reduces the physical strain and health risks to the wears back. this computer controlled exoskeleton adapts to the individual where the

technology enables the device to compensate for any on air gunam acumen, lifting behavior and optimize is fluid walking movements. as i'm going to have them hang on to essentially this is a little robot you where on your back like a rucksack to leave the physical load. a power and support are generated by these electric motors. he went, that's, that's only the typical load compensation in one hour is between $1.00 and $1.00 and a half. tons. i've come up that gives you an idea of just how much physical effort these workers expend. buskie them into my little anchor license. i wouldn't, perhaps, exoskeletons could also be used to provide assistance to workers who deliver packages, as well as caregivers. although there is no prospect yet of humans being rendered completely obsolete. val, that we're not why we still need humans. why? because these robots lack the intelligence. as we've seen in the logistic sector,

especially during the pandemic, there are some things you cannot plan for about them. that means a happening at short notice, which isn't possible with immobile and inflexible robot systems. and that's where human labor even with and exoskeleton is a far more efficient option. oh, a start up in california, teleports it's drivers into warehouses across the globe. the transporters either operate autonomously with human assistance where needed or their remote control directly and exclusively by the human drivers are core hypothesis is that autonomy is deployable today as long as you have a human in the loop, you have one human, they can be said in thousands of miles away that is monitoring multiple autonomous forklifts at wants. we're also providing warehouse workers the privilege to, to work remotely. right? the same privilege that's bestowed. busy on, on office workers,

the technology could also be used to drive trucks and taxi's thousands of kilometers away. the robots are on the march. right, that's it from me in the digital business team here in berlin. you can find out more about these and other stories online, d, w dot com slash business seeking. beardsley, thanks for watching. ah, with ah,

to the point. strong opinions, clear positions, international perspectives is the threat of war in the middle of europe receding. russia says it's drawing down the troops master ukraine's border. the west is skeptical. pooty poker, everybody loses find out on to the point. to that point. 30 minutes on d. w. and have you ever seen iran like we explore the plains of the 3rd time, the place where millions of people will make a pilgrimage. and the training grounds for the country's best women, soccer team. iran from involved in 75 minutes on d w. these places in europe are smashing all the records step into

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ah, ah, this is, did every news live from berlin on the break? russia announces new drills of its nuclear weaponry. moscow says the exercises are plants and denies stoking tensions with ukraine. each side blames the other for artillery attacks and eastern ukraine. this as russia snobs a major international security conference for the 1st time in decades, leaving western leaders meeting in munich scrambling to find a diplomatic way forward on ukraine. and.