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discover new adventures in 360 degrees. and explore fascinating world heritage sites d w world heritage. 360 get the app now 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 hardest. as it predicts much slower growth in the global economy, this yet 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 white of 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. is a dia, prediction for the global economy. the international monetary fund has cut 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 covered loc 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 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. and 1st of all, your reaction to the slowing predictions for growth. we've had it from the well bank. now the i m f, they just keep coming i think it's no surprise given the big disruption bill. freezing from the regional to ukraine of and girl we would expect the decline of the growth rate. but the question is, how quickly can be bounce back and again shows on resilience, 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 in 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 warrant economy. and the total state energy aspects, there's also the food spectrum that might lead to starvation even in some parts of africa and social on the rest. and that's some dangerous you have to be aware of.

and that's also what the m f was pointing out to swap. 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 there are different ways for what. so one way for what is to do the so called re shoring. so you're putting to part action which was done abroad, back to the home country. but until that, if to that is entry, which is equally resilient, 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 august 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 played a lot, and that's 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 you want to have chips,

you can use everywhere, not specialized chips. so you can flexibility one chip or 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 has completely stopped importing gas from russia. banks to its investment in a terminal to import liquefied natural gas o l n. j. another big gas in puerto germany is also hoping to pull the plug on russia. but as much further behind could the lithuanian muddle show the way every month tank ships filled with liquefied natural gas had to lithuania by the baltic, c, one full ellen, g carrier, is all it takes to supply the countries 2800000 people with gas. wow,

for 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, the fe near and the voltage phase have been paying the highest price in the whole europe, approximately up to 40 percent more just because we did not have an alternative. after the defendant started operations 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 high a pipelines, foaming in the terminal. and the port is prohibited due to fears of russian sabotage. the ellen g comes from norway, the u. s. and the gulf states, the gas, which has cooled down to minus $160.00 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 kite, a villas of vienna, better than it. it took 2 years to build a 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 helen g. 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 connected to the new gas pipeline that this so be incur under a very finishing could touch your center. we will start, did the on the 1st of may, had towards poland magazine, the connection between pond and virginia. 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 and new grain, as we've heard, as well as forecast for an extended spell of cold weather. a french court has given to former 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 as 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. if i say this is your met, him alone, and netflix as share price as 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 and our correspondence on the new york new york stock exchange, james sweeney. james. they were a rising star for so long up. what's gone wrong with netflix? well, let's just put it this way. netflix earnings today. a real disappointment, you said it earlier, 1st quarter, 2022, losing 200000 subscribers. that's the 1st subscriber lawson more than 10 years. and

netflix keep in mind was expecting an addition of 2730000 subscribers. and despite any p s that was roughly in line revenue also fell short of expectations. now look after that announcement shares thinking more than 23 percent. and after hours action right behind me here on wall street, a lot the taken and a big shock for a lot of people. okay, and it might not stop that 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 your 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 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 more as the cost of basic living increases. call it what you want subscriber fatigue and oversaturated market, consumer attention ship. we're 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. 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 a young here are an important mission. i'm sad how people me and being caching that be with animals and nature. ramayo loved them more than anything else in the world . the 10 year old is a real eco aria with africa. on d. w. the fate of a nation,

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