it's me, oh gosh. one yes, this is shad yards de la shortness i still get frightened by every loud noise which i don't know if it will ever go away. but for now. and that's how i am more than less your ordinance a fuck the not so silent trauma that may live on in their lives forever. next is the latest business with my colleague, daniel with sh her. i'm skill that i think that hard and in the end is a me, you are not a lot us to you anymore. we will send you back her. are you familiar with this? smudges were lions of the what's your story. ready i'm, he was numbers, women, especially and victims of vine and seen

a lot of them take part and send us your story. we are trying always to understand this new culture. so you are not a visitor, another guests. you want to become a citizen. in phil migrants, your platform for reliable information ah, ah, war is setting back the global economic recovery, the i m f saying rocketing fuel and food prices are hitting low income countries. the hottest as it predicts much slow growth in the global economy. this yet also coming up, we'll look at how it lithuania became independent of russian gas, could appoint 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 dw business. i'm daniel winter in, but it is a dia, prediction for the global economy. the international monetary fund has cut its full cost 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 coven locked downs. growth is slow across the board. united states, china and the years 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 that to shrink 8.5 percent by the end of 2022. let's talk now to marcus brun. am i a director of princeton university's department

of economics at the bend 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. s. they just keep coming i think it's no surprise given to big disruption bill freezing from the invasion of ukraine. i think we would expect a decline in the growth rate, but the question is how quickly can be pounds back. i 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 this depends, you know, what? energy supplies, we can have a place where so, colby and oil, we can place collectively easily while gas much more difficult to replace. and that's, you know, a big challenge for germany, for europe, and for the one to call me on 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 what the m f 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. are we facing an end to the era of globalization? i think i wouldn't go so quickly so the different ways for what so one way for what is to do the so called re shoring. so you're putting the part action which was done abroad back to the home country. but until that, if to that is entry which is equally to sylium, you still have more to source again by be even more salient up against future shocks. so what's more to sourcing? it means rather than having one supplier in some other country, let's say china, you have 3 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 mortgage zillions and a 3rd where compromise is and that's what jen and dealing with your passion secretary was pointing out, is hard french already. so you only outs was to congress which are friendly to you on our nation. and up to actually might lead to polarization or some divide of the globalization that we have, you know, one block which we are friends with and create a lot and 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, more from work to sourcing call center line on one country to supply all inputs. ok, and where should western nations be focusing now when it comes to recovery? if you could be brief or not just running out of time, i think it's been important to be more flexible and build up my office. and in

particular, flexible work sampling to kind of 3. you want to have chips, you can use everywhere, not specialized chips. so you can move flexibility one to produce a horse out. then you can replace it with a generic job. and as 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, bring a 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, c one full l n. g, korea is all it takes to supply the countries $2800000.00 people with gas for half

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 states have been paying the highest price in whole europe, approximately up to 40 percent more just because we did not have enough time to do . after vien defendants 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 has cooled 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 us, his keita valencia vienna. that isn't 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. ellen g flows to lithuanians, 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 it there on the 1st of may, head towards poland and gas interconnection between pond and devaney 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's 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, $375000.00 bureaus, st. deliver root, put the writers under almost permanent surveillance, and should have classified them 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, meta frederickson said her country will no longer need russia. natural gas applies by next year. if i say this is your met, amazon, 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 new york stock exchange, james sweeney. james. they were a rising star for so long of what's gone wrong with netflix. well, let's just put it this way. netflix earnings for a real disappointment. you said it earlier, 1st quarter. 2022,

losing 200000 subscribers. that's the 1st subscriber loss in more than 10 years. and netflix keep in mind was expecting an addition of 2730000 subscribers. and despite any p s that was roughly aligned, revenue also fell short of expectations. now look after that announcement shares thinking more than 23 percent. an after hours action right behind me here on wall street, a lotta taken 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 subscribers, streaming services, video services, just like netflix in the us? well, you call it the great reg resignation of the u. s. economy. i call it the big quit and if you're wondering why did people resign and leave their jobs and mass? because stag 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 to 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. 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 costs? it's 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, everyone has paramount. the other has disney and they all 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 more as the cost of basic living increases. call it what you want subscriber fatigue and oversaturated market,

consumer attention ship. we're all seeing what we would call a great, 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. a business. that's all for rochelle, but if you want more, check us out online. d. w dot com slash business. thank you very much for watching . and he used to just wait for the ray because he used to be able to rely on the month to do today. robbie battlefield, unpredictability of climate change. just like over 100000000 farmers in india. he has found some help out the other end of the with global

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