has warrant of a protracted war in ukraine. he says, there is no indication the russian leader was that a mere putin will give up his ambition to control you that he is off day after our stay tuned for the business headline that's coming up next. after a short break, and i richardson in berlin, thank you so much with nico is in germany to learn german. hello, benita. why not learn with him online? on your mobile and free chef fee w e learning course, eco's big ah

ah ah, the war in ukraine delivers a heavy blow to global trade. imports and exports are down in almost all major economies. as container ships remain stuck in port, is it a blip or could the damage be longer lasting? also on show 26000000 lives locked down. we'll get the latest on how residents of shanghai are coping with china's drastic response to a spike in corona virus infections. welcome to the show. i'm seeing beardsley.

numbers of container ships stuck in port, a chinese economy that looks like stagnating, and they nearly 3 percent dipping global trade. that's the bleak picture painted in the latest monthly trader port by the kil institute for the world economy. it's the 1st month to capture the implications of the war and ukraine, as well as subsequent sanctions. imports and exports fell, and most major economies. russia on almost 10 percent dropping imports. the you experience a 5.6 percent dive in exports. the chinese economies, meanwhile struggling mid its worst cobra. 1009 outbreak since the pandemic cutting into domestic consumption and locking down major cities. vincent dahmer is the co author of that report. he focuses on trade for the kill institute for the world economy. he joins me now. if it's a good have you on the show. this is almost a 3 percent dip and world trade that you've highlighted in a period from february to march. i have that right. can you put this into perspective for us? when's the last time we saw a dip of this nature in this kind of time frame?

right, thank you for having me. so we do observe monthly data. you mentioned the number of point 8 percent minus monthly growth from february march. now remember that multi data does very somewhat like stock market. they do very naturally. now this is a little bit more pronounced and we would expect, and we do believe, but it's part you to a sanction western russia. but also the problems in the network where we see more traffic jams coming up and general uncertainty, this trade that sitting on ships, potentially in some of these container ports, not really sure where to go. i would imagine that sort of a shock reaction to the war into the sanctions. should we see this level out over time then? well, if you had asked me several months ago, i would have predicted that, you know,

in the year 2022. we would have seen that using all tensions in the global container network. now again, we're being caught and having to say, well, the easing being postponed. the ideal situation where there was no corona virus in china and causing traffic jams, no more ukraine, that is causing disruptions and the shipping network. we would see. busy in the next few months, some using but now this is postpone, again. i want to ask, you mentioned china there, it's going through a series of lockdown, shanghai and jen, these are major cities, major ports, to what extent is that factored into these numbers? it is already factored in. now this lockdown, especially the one in shanghai, those affecting 26000000 people is a very severe lockdown, and sometimes the busiest and most important container ship or in the world. but at

the moment we do see that the part of high continues to operate normally. so that is a positive sign that is factored into the data. but it remains to be seen whether the production will slow down production and diminish export from china in the months ahead than since dom or kil, institute for the world economy. thank you very much. all eyes are on that locked on in shanghai and what it means for the chinese economy, as well as its people. 26000000 residents are confined to their homes. city officials have now allowed parents to stay with children who are infected with coven 19, and not so small mercy. but the full lockdown has been extended indefinitely. and that leaves no clear end in sight. images almost identical to the beginning of the pandemic. 2 years ago, shanghai st residence have been ordered to stay at home on li supermarkets and

pharmacies are still open. for this fish processing factory, the financial toll is catastrophic. according to its supply records, fish was delivered and processed on march 22nd. since then, production lines have stood still well on temper rounds. oh, or one or 2 weeks ago, revenue was just 50000 you on which wasn't even enough to pay my staff for guns ever got from 50000. you on about 7500 euro's that turn over is now 0. is state on bank has issued the factory a low interest loan with 450000 euros. it's manager hopes it'll be enough to keep the company afloat during the locked down the so i had no access to cash because of the outbreak. and then suddenly this loan provides a lifeline cha ching lighter houses. no one knows how long the lockdown will last. even with very low case numbers, chinese authorities imposed curfews mass testing and seal of entire cities the case

now in shanghai, state media reporting that these measures could reduce new infections to 0 within 2 weeks. this is also the hope of the owners of shattered companies in stow us, who all fear for their businesses or correspondence, old song, hans as the desperation from the lockdown and shanghai is growing. p, both frustration is growing and it's a shock into the residence of different beauties chanting slogans like live restriction or give us food or we will die from hunger. we also see small rioters trying to rush out to get health care, food, and other life necessities. many more people talk to chinese social media to share their stories. in some extreme cases, threats or self harm or violence were reported. it's really tough for the government to handle because not just the general public, but the medical staff, police officers, middle level, or senior officials, are disgusted by the total lockdown. people just cannot stand it anymore. shanghai

is the largest and most popular city in china. it contribute the most to its g d p . there are report saying that if somehow is close for 2 weeks, the impact on china g d p for that month would be about 2 percent. china is likely to struggle reaching its growth, talk it up for 5.5 percent this year. and many foreign companies in some high will have to consider the risk all the repeated disruptions or restrictions in the logistic supply chain and choose to downsize or even relocate. so it's on hunger inside pay. let's go to some of the other global business stories making headlines. thousands, thousands of european holidaymakers have seen their easter getaways disrupted or canceled due to problems with airlines and airports. staff absences remain high due to elevated rates of coven, 19 easy jet. british airways and ryan air are among the worst effected

us airline jet blue has a now it will make a 3 point. $6000000000.00 bid to purchase discount. carrier spirit triggering a bidding war with frontier airlines. frontier had recently proposed merger with spirit, which now says it's considering jeff loos offer you can have a more american oil executives defended the rising price of gasoline at a congressional hearing. meters of exxon mobil, chevron and 4. other companies said they were not engaging in price gouging. they put the blame squarely on higher costs for crude oil, saying rising prices are beyond their control order. president biden was staying with markets. wall street has been bracing for more aggressive moves by the federal reserve to come about inflation. new minutes from last month's fed meeting were released on wednesday. let's koreans quarter in new york for more years. these minutes are often seen at the latest clued to what the fed is thinking of what have investors glean from these latest minutes. while stephen,

the doubts are out and the hawks are in the federal reserve is going to be much more aggressive in the month to come that at least those some fit minutes that the next meeting early may. the federal reserve is probably going to hike interest rates by 50 or not just $25.00 basis points, and they will also probably start reducing the balance sheet. that basically is us treasury and mortgage backed securities in a total volume of almost 9 trillion dollars. and starting may, the federal reserve could reduce the balance sheet by about $95000000000.00 a month. so it's a lot of money we're talking about the, the federal reserve clearly tries to be more aggressive to fight inflation in the united states. and yes, this is having an effect on mortgage rates. we're seeing them rise as well. what does that mean for homebuyers in the us? yeah, definitely. it's a tough time. so if you see what happened through their 30 year mortgage rate,

here in the united states pretty much for the 1st time since 2011. the rate is back about 5 percent. and could increase even higher with the high mortgage rates. so you see less demand for mortgage mortgage applications in the last week. drop by 40 percent and implications to refinance actually problems by about 60 percent on all of that at a time. and we stayed. prices are a sky high anyway here in the united states. so basically, what that mean for many potential home buyers, they're priced out of the market at this point in the quarter in new york. thank you. and finally, as we've reported, countries across europe continue to see the assets of russian oligarch and institutions as part of sanctions over the war. and ukraine. here are some of the latest examples spanish authorities and pound re ya worth over 90000000 euros. the

78 meter long boat named tango was seized at the mediterranean port of palm de my yorker. it belongs to victor vexes beg, who spain civil guard alleges is close to russia's president. putin. villas belonging to russia, a tv horse vladimir salt soviet have been smeared with anti worker feeding. after the 8000000 euro properties were seized by police, firefighters were called to one of the properties early wednesday morning following a suspected arson attack and finished customs. officers have seized our works at the border with russia. worth 42000000 euros, reportedly belonging to the st. petersburg amortize museum. the works include valuable paintings and sculptures. his reminder, the top isn't stored, we're following. global trade fell nearly 3 per cent in march. that's according to the latest monthly trade report by the kill institute for the world economy is the

1st full look at the trade implications of the war in ukraine and subsequent sanctions, imports and exports fell and most major economies. that's it for me and the dw business team, you can find out more about these rather stories aligned. check out the adobe dot com slash business for also on youtube under the dw news channel scene. beardsley, thanks for watching. enter the conflict zone with sarah kelly. the world has been confronted with horrific images of atrocities, against civilian, allegedly committed by russian forces in ukraine. we can find the cards and then paul, good genocide, how should western allies respond? my guess i'm conflicts. i mean, is this a waiting foreign minister gabriela lance bag? he joins me on the line with on deal with.

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we've got some hot tips for your bucket list. romantic corner tread hotspot for food and some great cultural memorials to boot w travel off we go. the world has been confronted with horrific images of atrocity as against civilians allegedly committed by russian forces in ukraine. we can find the courage and then call it the genocide because there are so much resemblance of the events of 20th century. how should western allies respond? my guest on conflicts own as lithuanian foreign minister, gabriella lands bagus. he joins me on the line from building to tennessee, which is more than just one person if it stays. that means that this country will be ready.