to asia, the bullets and the bomb doesn't know nationalities and doesn't those skin color? you're watching the w news, dw business news is up next with daniel winter stick around for that. i will see you tomorrow, with people and trucks injured, one trying to flee the city center more and more refugees are being turned away. families, please see the reason for these credit on its way located demonstrate people fleeing extreme dreams, accounting, 200 people. hassan from the agency. around the world. more than 300000000 people are seeking refuge. yes. why?

because no one should have to flee. make up your own mind. d. w. made for mines. aah! war is setting back the global economic recovery. the i m f saying rocketing fuel and food prices are hitting low income countries, the hardest, as it predicts much slower growth in the global economy. this year. also coming up, we'll look at how it lithuania became independent of russian gas. could a point, the wave of big nations, and netflix says it's lost subscribers for the 1st time in a decade. it stock drops like a rock $30000000000.00 wiped off its valuation. what's gone wrong?

the streaming giant will get the view from wall street. welcome to the w business. i'm daniel winter in berlin. it's a dire prediction for the global economy. the international monetary fund has caught its forecast for global growth this year to 3.6 percent. the i m f, blames rushes war in ukraine, putting pressure on a global economy already burdened by a slow recovery from the pandemic and supply chain pressure due to chinese cove lock downs. growth is slow across the board. united states, china and the euro's own, all expected to grow their g d p, but slower than previously hoped. but the i m. f expects russia to enter a recession due to ongoing sanctions against the country, saying it expects the economy there to shrink 8.5 percent by the end of 2022. let's talk now to marcus brunner, maya, director of princeton university's department of economics at the been time center for finance. thank you very much for joining us, marcus. first of all,

your reaction to the slowing predictions for growth. we've had it from the world bank. now the i m f, they just keep coming and it's no surprise given to big disruption bill freezing from the invasion of ukraine. i think we would expect the decline the growth rate, but the question is how quickly can be pounds back and can show some civilians given the circumstances. and so how, how quick do you think we can bounce back? i think that depends very much how quickly we can switch to other sources and just depends. you know, what energy supplies we can have a place where so colby and oil, we can place collectively easily while a gas much more difficult to replace. and that's, you know, a big challenge for germany, for europe, and for the world economy and a total stay in a t aspects. there's also the food aspect that might lead to starvation, even in some parts of africa and social numbers. and that's some dangers you have

to be aware of, and that's also the gamma if was pointing out the smart. so an uncertain future. but now you've written a lot about globalization. so within countries wanting to become more independent, this war and ukraine has been a big trigger for that from russian oil from chinese tech. all we facing an end to the era of globalization. i think i wouldn't go so quickly so they have different weights for what so one way for what is to to the so called re shoring. so you're putting the production which was done abroad back to the whole country, but i told you to that is entry, which is equally resilient. you still have more to source again, but even more salient up against future shock. so what's more to sourcing? it means that rather than having one supplier in some other company, let's say china, you have the suppliers, one in asia, one in africa, and one in latin america. if something happens to some of the suppliers, you still have to fall back on. and that makes the whole system more concilium. and

a 3rd where compromise is and that's what jen and dealing with us passion secretary was pointing out, is called friend shoring. so you only outsource to campus which are friendly to you on our nation. and that's actually might lead to a polarization or some divide of the globalization got, we have, you know, one block which we are friends with and create a lot as composition within the block. and there's another block, and there will be a 3 within the other block, but the 2 blocks and also connected. and so we have to see about the size of period to see how things are moving forward. but i think it will be good for the whole economy if you still would work together in a global sense. but more often we're to sorta call them the line on one country to supply all the inputs. ok, and where should western nations be focusing now when it comes to recovery? if you could be brief on that because we're running out of time, i think it's important to be more flexible and build up us. and in particular, flexible work sampling to kind a 3 you want to have chips, you can use everywhere,

not specialized chips. so you can more flexibly one chip or do a horse out, then you can replace it with a generic joke. and this flexibility allows you mortgage williams as well. ok, flexibility is the name of the game when it comes to recovery by the looks of it. marcus britain, maya of princeton university. thank you very much for that. thank you, daniel. this, you ania this month, became the envy of the e u, when it announced that it had completely stopped importing gas from russia. banks to its investment in a terminal to import liquefied natural gas, or l n. g. and other big gas in puerto germany is also hoping to pull the plug on russia. but as much further behind could the lithuanian model show the way every month, townships filled with liquefied natural gas, had to lithuania phi, the baltic sea, one full ellen, g carrier, is all it takes to supply the countries 2800000 people with gas. wow. for a month,

we've been invited to take a peek at the high tech floating ellen g terminal that makes it possible in the port city of chi pita. before the terminal lithuania and the baltic phase have been paying the highest price in whole europe, approximately up to 40 percent more just because we did not have an alternative. after the defendant started the variation of the region, the natural gas prices became just the same as in the western europe. the terminal was cold independence because it makes lithuania completely independent of russian gas, which until recently was delivered via pipelines foaming in the terminal. and the port is prohibited due to fears of russian sabotaged. the ellen g comes from norway, the u. s. and the gulf states, the gas, which is cool down to minus 160 degrees celsius for shipping, is converted back to gas and fed into lithuanians grid through underground

pipelines. a similar floating terminal could also make germany independent. a russian gas says yurgeet as his kite valencia vienna, better than it. it took 2 years to build the terminal, which will be expanded. it won't only make lithuania independent of russian gas, but will also help the baltic states supply neighboring countries with ellen. gee, that will be done by this gas distribution plant close to the capital vilnius. from here, l n g flows to lift the wing as neighbors. the operator is preparing for increased demand. this place actually is connected to the new gas pipeline that this sir, being ker, under a very finishing could touches center, we will start did the on the 1st of may, head towards poland and gas interconnection between pond and athena. it's now easy for lithuania, poland, estonia, latvia, and finland to swap the gas reserves. so they have much better chances of making it

through a russian gas embargo. now to some of the other global business stories making news stain with gas, the price of u. s. natural gas associates, highest level since september 2008. the rise was driven by a global energy crunch over russia's war in ukraine, as we've heard, as well as forecast for an extended spell of cold weather. french court has given to form a delivery executive suspended one year prison sentences that on top of a 30000 euro fine for abusing the free lunch status of its delivery drivers. the court also find the british food delivery company itself, 375000 bureaus, saying deliver root, put the writers under almost permanent surveillance, and should have classified them's employees. denmark is aiming to produce green electricity for some of 35000000 european households. the government plans to

quadruple production form solar parks and onshore wind turbines by 2030 prime minister met fredrickson said her country will no longer need russia. natural gas applies by next year. we have ice additional, maryland and netflix as share price has dropped like a stone in after hours trading after announcing a net loss of $200000.00 subscribers in the 1st quarter. now that's the 1st time the company has lost subscribers in a decade. it's a massive shock after a successful pandemic period, as households way, whether to keep streaming subscriptions amid rising living costs. well, who better to tell us more on this in our correspondence on the new york new york stock exchange, james sweeney. james. they were rising star for so long of what's gone wrong with netflix? well, let's just put it this way. netflix earnings today are real disappointment. you said it earlier, 1st quarter, 2020 due losing 200000 subscribers. that's the 1st subscriber last more than 10

years. and netflix keep in mind was expecting an addition of 2730000 subscribers. and despite ne p. s was roughly in line revenue also fell short of expectations. now look after that announcement shares taking more than 23 percent and after hours action right behind me here on wall street a lot to take in and a big shock for a lot of people. okay, and it might not stop there as well. that's the problem here. we've heard of the so called great resignation in the united states. could we see now the great cancellation from subscribing streaming services video services just like netflix in the us? well, you call it be a great reg resignation of the u. s. economy, i call it the big quit and if you're wondering why did people resign to leave their jobs and mass? because the wages, your job, the satisfaction, other job options, rising cost of living and all of those can be applied to the streaming services. you have yourself stagnant content platform, the satisfaction other options and less pocket money to spend on several streaming services. just to watch that one show on each service. listen,

the writing on the wall for the streaming services. it's been in the books for a while. well, the world is opening up people, they're not stuck in their homes anymore. the cost of living is rising. and what would you rather do spend $10.00 on a streaming service to watch a show or put it towards you ever increasing grocery bills and energy cause its priorities. and not only that, netflix has been test piloting a program, i believe in peru to get people to stop sharing the passwords with individuals outside their household. now, do you think that mobile scare people into buying subscriptions? more than half the people that i know that have netflix and they, they have their account through another person, one person. but netflix, the other one is paramount. the other has disney and they'll share if that comes to an end via whatever magical digital wall they create. get ready to see a lot less size, watching streaming content from their homes. people not only have less disposable income, but they're trying to save or is the cost of basic living increases. call it what you want subscriber fatigue in oversaturated market, consumer tension, ship world, seeing what we would call a great print,

a great cancellation of streaming services. yeah. well, someone who you don't have to pay to see is james sweeney. thank you very much for that. it's been a pleasure, as always james, thank you very much. and you're up to date with d. w business. that's all for our show. but if you want more, check us out online. d. w dot com slash business. thank you very much for watching . suing on behalf of the climate, more and more citizens are taking legal action against government incorporations demanding more drastic measures against global warming. the successful fight as individuals against all powerful industries, legal action, verdict, climate protection, close up next on d w. not the addition of the 77 percent. well this week we want to have

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