take place, but only after a draft piece deal is read. you watch any w news from berlin, stephen beardsley, he's up next week. he w. business new stick around. he'll be right back. i'll see you tomorrow. with secrets lie behind the swamp, discover new adventures in 360 degrees. and explore fascinating world heritage sites. d w world heritage 360. get the app. now. imagine how many portion of lunch are now in the world right now. climate change, if any, off the story. this is my flex the way from just one week. how

much was, can really get we still have time to go. i'm going with his subscriber all morning with oh, peace talks between ukraine and russia. give a boost to market indexes in europe and the u. s. c. gains and oil continues its retreat, but with bombs still falling in ukraine. our investors are a little too optimistic about the chances for a deal. we'll talk to our correspondent in new york. the war continues to plague supply chains. meanwhile, we'll look at the market for fertilizer. a major export for both russia and bell roost that isn't arriving where it's desperately needed. and one of china's largest

cities under covert lockdown. what do the new measures in shanghai mean for the country's domestic economy and its global trade? i'm see from beardsley. welcome to the show. markets around the world have taken heart from what appeared to be positive developments in the war on ukraine. leading indexes in for us in peace talks between ukraine and russia. oil prices also continued their research retreat prices for brent crude. at one point falling below $100.00 a barrel. markets have struggled to gauge the trade effects of the war and the resulting sanctions on russia or else could against court in new york. for more, yes, investors appear to be a little bit more optimistic right now. how much of this is linked to what we're seeing happen around the war and ukraine right now? as even a clearly, it would be a huge relief in one sense. um, if there would be a ceasefire between of ukraine and russia a soon. but then on the other side,

if you look what happened to the markets in the past 2 and a half weeks of stock prices yield, wall street, it went up despite the war a going on. and then we shouldn't forget. i mean that we saw a pressure on the stock market to was not just because some of the war in ukraine, but also because of inflation fearsome here in the united states. and those fierce are still very much alive from. there's also talk of a possible recession at some point, am here in the united states, them. so yes, there is some relief. how much of that is due to god theorizing about to possible a ceasefire is tough to part here. one of the big economic stories coming out of this war has been the pressure on commodities from metals to oil, to wheat. are we still seeing that kind of pressure more than one month into the war? well, as even the pressure is definitely using,

if you look what happened to the price of mikko, what happened to the price of aluminum? what happens to a natural gas price system, or also the price of oil, which by the way, briefly of pow below $100.00 the barrel after being as high as a $130.00 a barrel just a couple of days or a weeks ago. but then again that we see some easing of those prices might not just be because what's happening in the crane, but also what happens in china. i mean, we're still locked downs in shanghai for examples of the 2nd biggest economy on the planet. and probably having less demand for some of those metals and commodities at the moment is definitely a factor of why those prices are using, at least for now all right, quarter in new york. thank you very much. we'll talk more about china just a moment. but 1st, those supply chain problems from the war are still hitting fertilizer, as a major export of both russia and bel roost. that, in turn, is having

a huge effect on countries that rely on the chemicals to grow their crops. now they're bracing for higher prices. after coffee beans arrived at this filling plant in the brazilian state of miniature, ash, they are repackaged for export. but transport costs are rising along with the cost of energy. most exports are headed for europe, but european coffee connoisseurs will soon have to dig deeper into their pocket to get their morning brew business. coffee prices will increase because of the worn ukraine who sold. we don't expect to shortage a fertilizer or killer women, but a purchase 20 percent of it from russia. you won't buy vi, so prices will also rise because of that was, it was to rebut she we back to displace joyous brazil is the world's largest coffee export. and it depends on imports of artificial fertilizers for its high yield

harvests. but the warren ukraine has halted supplies from russia and bellows, preserves. government has now adopted an emergency plan to boost its own fertilizer production. one of the goals is to bring factories which were shut down a few years ago back into operation. right now, brazil's entire agricultural sector is suffering from the consequences of the ukraine war. why don't we fully ethan had present entrepreneurs on making good profit, but because prices for brazil's export products have risen, what i said, bull, but if fertilizers are soon lacking much crop yields will fall. that the problem is that the sanctions were imposed only by some countries in the west, but the consequences are felt by the entire world. i was just, after all, there was no vote at the united nations or any other multilateral agreement on sanctions since you get a michael man. bye phil. if food production collapses,

a hungry crisis will take hold in many regions of the world of further consequence of the war in ukraine. his look at other business centers making headlines. vladimir putin has reiterated his demand to receive payments for russian oil and gas in rubles. that's this fight g 7 leaders rejecting that very idea. on monday, hooton's said the disagreement should be resolved by march 31st. that thursday. the e u imports 40 percent of its natural gas from russia. google c o, cinder, up, a chai, has announced funding to fight this information and russian propaganda about the war in ukraine. speaking after meeting with polish prime minister in warsaw beach, i said, tech firms were focusing on trustworthy information, including air rate, alerts, ukrainians, as well as information about humanitarian aid. a shanghai st. snap locked down and out this past weekend came as a bit of a shock to markets. a surgeon coven, 19 cases in the mass of metropolis,

has led to the toughest restrictions in the city. since the beginning of the pandemic. and the impact is being felt well beyond the cities. limits a last trip to the shops before the next lockdown residence to the east of the long who river already incomplete, locked down while their fellow citizens to the west can still make some last preparations. but food is already running out and what's left as expensive. over the job, we will be under locked down starting from april 1st. so i came out today to buy some food. when i go upstairs, there was nothing left there. what shall i do for the next few days? the shingle. i'm feeling very insecure and hearing a lot of rumors on the outside lakes were short of this to day and we need to rush to buy them from you. so yeah, the price of goods is rising and are you sure people are panicking? co wong. lou low vision,

hong kong vendors and shops confirm that many items are in short supply. it's also difficult to get vegetables from wholesale markets because they're closed . some wholesalers sold us vegetables along the streets if we can't get them or if the wet market is closed, we're finished. the shanghai lockdown is that to last for a total of 9 days. it's a hard blow for the popular and economically important hub and it's 26000000 residents. but the chinese government says it's their best chance to stop the further spread of the corona virus. our own clifford tune and joins me in the city for more. he spent much of his career covering china. clifford. let's 1st of all look at the local economy here, the domestic economy. what is this lock down in shanghai want to try is biggest cities. what is it going to mean domestically? when you're looking at such a big city and it's going to have a major impact, and we've seen a couple of these now. we saw sion gen major manufacturing up in the south. now

shanghai, the cumulative effect of all these big cities going to lockdown is going to have a serious impact on the chinese economy. there was a study today by an analyst at chinese university and hong kong reckons it could cost $46000000000.00 a month, which is a staggering figure. and it could lead to up to a 3 percent decline and g d p. so there's a seriously major impact on the cards and if you cast your mind back to the 1st lock down in the 1st quarter, 2020 in china, they cost nearly 20 percent in economic growth. even the official figures that 7 percent. so the impact of these locked down significant and the sort of time of aging wants to encourage more domestic consumption and more domestic participation in its economy. ok, so that's the domestic side. but obviously china a huge export factory for the rest of the world. what does it mean in terms of international trade when you're locking down one of the biggest cities in the country? well, it's going to have a major impact on us as well. so much traffic goes through shanghai from all around that, that's in the, in the east coast of china,

which is the busiest industrial area. it's going to hit everything from commodity prices to electric, vehicle production, all these areas. and a lot of the things that we're used to having that come from that are produced in these areas of china are going to find it very difficult to get out. i mean, they say that officially, it hasn't affected the ports in the airports. but the thing is the drivers can't get out of their homes, for example. so things are seizing up. there's a lot of ways and hidden ways in which these locked down can have an impact. and it's going to have a big, i mean, oil fell 8 percent on the announcement of the of the lockdown. so we can see that the markets are taking a very seriously. you know, this is based on this 0 covert approach that beijing has held stuck to for more than 2 years now. and now we're seeing is big cities. one of the other being locked down is, could this lead to any sort of rethink of that policy? well, this is a bit of an interesting question because basically, till now china has had a relatively good record on covert. and even now you're talking about 6000 cases.

and in germany, we're dealing with 237000 cases. and all those cases are very small, number are showing symptoms. so it's, it's really quite a drastic way of controlling it. and it becomes a question of what point does the economic cost become too severe? i think what china is looking at more than this is looking at ways of making the locked and shorter. i mean, we've seen the shanghai is going to be 9 days change and was a week, you know, instead of these lengthy, lengthy periods that they're trying to just do a short, sharp approach. and i maybe it will work. but then again, on the wrong the variance is proving so, so difficult to treason, to, to control a sorry, to control that, you know, we just have to wait and see what, what they do. but for the moment i say they're going to stick with this policy. all right, did the businesses, clifford can and thank you very much. and before we go, here's a reminder of our top story. the impact of sanctions and diplomatic efforts are

raising investor hopes of an into the war and ukraine. level markets have been rising as talks between the russian and ukrainian governments. again in turkey. and that's it for me and the business team here in berlin. check up, check out our website, you w dot com slash business. thanks for watching the war in ukraine to leave it or to stay behind. it's a tough choice. what's it like for those who flee? what's it like for those who defend the country? choosing their fates at the border, kluso next on d. w, into the conflict zone with sebastian. how worry the russia 5 about the

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