will have dominated in 2020 to winning all but 2 races. and that's it from me at the new scene for novel update for you at the top of the all but 1st business is up. next with mike, buddy, chris told already with the wings over that explaining how south korean truck has a squeezing global supply. i've got office in berlin. i spoke to the dark side where intelligence agencies are pulling the strings. there was a before 911 and an aftermath, 11 pieces after 911. the clubs came off, were organized crime rules. were conglomerates make their own laws? work through what's vague. it doesn't matter. the only criteria is worked. we'll

hook people. we shed light on the opaque world who's behind the benefits. and why are they a threat to us all o peak worlds this week on d, w? ah, the latest squeeze on global supply chains, a strike by soft korean truckers entered its 7th day with more companies in the country and are cutting operations. we take a look at the global impact also coming up for the 1st time in nearly 5 years. trade ministers are gathering at a meeting of the world trade organization. can they agree on fresh deals and a reform of the curb? we'll get an expert's view. and the big mac has gone, but now former mcdonald's restaurants have opened their doors under new russia

leadership. moscow will show your 1st over and bill and welcome to the program. pressure on companies in south korea is growing as a strike by the countries truck drivers enter 7th day industries, including auto, steel, and petrochemical makers have wrecked of accumulated losses worth about $1200000000.00 . the industry miller raising their finances. southwest president use of euro has ordered is top aides to find a way to reduce the impact on industries and tackle red hot inflation. let's get more this from young hoffman. he is the head of trade logistics at the you and conference on trade and development. welcome back to the w young. more companies in south korea's are saying they're cutting production because a freaking inventories. how concerned are you that this could grow into

a problem of global proportions? yes, good afternoon to geneva, not far from the w t o, which is your next topic? yes, it's not that it is probably leading. it is already leading to negative effects on the supply chain. no one has to understand transport workers, be a truck, us, port rocha, ferris, they are caught between a rock and a half place. they, they have been affected very strongly negatively by or the damage or the stress on them. and then they are now is affected by higher prices. and what we do see on the, the shortage is this delays. this strikes threats of strike speed and korea be the number that los angeles. they do lead to more uncertainty. they lead to longer waiting ships recalculated, pre call with no ships container, spend about 20 percent more time in port than pre cove it. so all this leads above

all to higher costs, which then also will make the transporter. workers suffer from higher prices. looks like nobody wants to be a truck driver anymore. these days. we have the strike in south korea. we have china as 0 cove strategy. we have the war ukraine and the sanctions on russia. it looks like the pressure on global supply chains is only growing these days. yes, this, this direct impact of course of less supply of goods and from the supply chain perspective . the main impact really means it leads to more ships and other transport equipment trucks, but officially the ships, 80 percent of global trade in volume is shipping. they have to wait longer, they spent more time in port, they have to go longer distances. you mentioned crane the so to get the same grain to egypt instead of from a cry and you have to get it from brazil. yes. with a fixed capacity. so if a fixed number of ships they need to go long distances,

these different ships that we would need are not there yet. they take time to bid. so all this leads to higher freight rates, which lead to higher price. and if i may just last, we published a new report. so our a simulation, our estimate is at the high up shipping cost, i afraid rates leads to an additional $1.00 percentage points off consumer prices. so inflation, which is already going up through tri energy and other causes, 1.6 percent at a different percentage points are due to higher transport, goes into the global average. if you are a small island developing states, if you're far away to pay a lot of my time, the small island states, their prices go up by an additional 8 point one percent. you know as the them a difficult situation. certainly young hoffman of the yearns conference on fight and development. thank you for your insight. thank and now to some of the other global business stories making news to pans. yin has volunteered 24 year. lo

against us dollar japanese, the currency has been weakening for months. accelerated by the feds aggressive monetary tightening to tackle soaring inflation. the n was boosted late last week and took it said it was concerned about sharpie n falls and would quote respond appropriately if needed. netflix has announced that it's wildly popular south korean drama. squid game will return for a 2nd season. became netflix as most watch series when it was released in september last year. the dark satire tells the story of cash strapped contestants who play highly violent versions of childhood games, quite chain, for a chance of life changing sums of money. now are very lengthy delay because their co with 19 the world trade organization is holding it's highest level meeting in 4 and a half years in geneva. russia's invasion of ukraine cas a dark shadow over this lease gathering. director general goes your contract. well,

predicts a quote, a bumpy and rocky road ahead, but she is cautiously optimistic. she says the body can achieve one or 2 global deals. now world trade fell 5.3 percent in 2020, but bounced back last year to grow nearly 11 percent the w t o expect growth of almost 5 percent this year. for 2 decades. the world trade on trade organization has been trying to limit, over fishing in the world, sees and some say, a deal is close. members also hope to strike a deal to temporarily wave w t o's protections of intellectual property uncovered 19 vaccines. the w 2 hopes to position itself at the forefront of the global fight against climate change and as some question, the relevance of the body at a time of global crisis. reform is also on the agenda. now

a short while ago i spoke to rita narly car. she is the president of the german institute for global and areas studies. and i asked her what had what she has been hearing from the meeting in geneva, where the atmosphere seems to be pretty contentious. that's far more about this w t o meeting with em redone arly car. she is the president of the german institute for global and area studies. a welcome back to the w. i'm rita. there seems to be quite a contentious atmosphere, not least because of the war in ukraine there at this w t o meeting. what is it that you are hearing from geneva? content contentious atmosphere is right, chris, up there is a lot of disagreement are coming from different sides. so for example, there are developing countries that are complaining that green rule meetings are happening. small group meetings are happening from which they are being excluded. other are developing countries who are saying that they are being pushed into

agreeing on fisheries subsidies that the concerns of artisan art is the no small scale of earth fishery the fisheries. cottage industries are not being taken into account that there is great concern on the question of a trips waiver to ensure a vaccine equity on which day you asked since switzerland and you seem very reluctant to compromise. developing countries are worried about the question of food security, and some of them are arguing that they need to be able to have public stock holdings to ensure that when a we have explored restrictions going on, they are able to do something about this to prepare to be able to support the very poor in their countries. and there is a great divergence of opinion on these issues and adding to this contentious atmosphere. i'm marita,

i will believe is the fact that we see that trade international trade can be weaponized. how's this impacting the w t o chris, i'm so glad that you asked a question. the problem is that much of the discussion that is happening in geneva right now seems to think that the solution is a more trade liberalization. there isn't much lesser understanding recognition of the fact that trade can be securitized. i'm redone. let me ask you what form should a reform of the w t o take? there are 3 areas on which reform is absolutely necessary. the 1st and the most important is a recognition that sometimes there are tradeoffs between trade and security. that trade or globalization are not and goals in themselves. that trade can be

weaponized. and that means being able to have a system of rules that allows you to have secure supply chains with the reliable partners. this means a rewriting of many fundamental rules of the w t o including m f and most favored nation status and national treatment. second, we need a reform of decision making processes in the w t. o. consensus decision making has been a problem, but it's also a problem if you have greenville meetings that exclude the great majority of your membership, which, which means developing countries. right? so we need reform off decision making. and 3rd, the w t o needs to be engaging more with real people if needs to move out of the technocratic bubble that these discussions are taking place. and it means developing narratives that explain to people why a re booted reformed system of roles actually is good for them. right?

because narratives also matter. i'm right on all the current president of the german institute for global in areas studies. thank you for your time. thank you. yes it is to mosque. on our former mcdonald's restaurants have opened their doors under new russian ownership. mark bring back the big mack says this protest her interrupting the opening of cushioning. tush, gus, flagship store at moss coast pushkin's square. he was quickly escorted out opening day after all was meant to be all about the new burgers and fries, and not the bod rushes, growing isolation, as more and more international companies leave. i don't that was seen outside long lines, customers eager to try the newly branded fast food. much like in 1990 when the crowds came to 1st will come the americans. they are now gone. but their recipes,

not so much. so it looks the same to me, the fries and the fish burger. that's the one i like best since there was a kid. i usually have fries here, they taste the same as before. indeed, the food is the same as ever. the machines are the same, even the menu screens. mcdonald took a charge of $1400000000.00 as it transferred the restaurants to one of its local licensees. leaving in a hurry, just scrubbing the company name off every surface for now. food is packaged in plain white paper. as for that big mack, it's so tied to the u. s. fast food giant that it can no longer be served here. but the new owner is working on a replacement. will you mean? yeah, it will taste the same, but it will have a different name it'll ingredients will also be different. and believe me, our specialists are already working on it. it's obvious that i bought because no

tosca is set to soon fill all 850 former mcdonald's restaurants in russia. and he wants to grow beyond that to that social for now. as usual, there's more on d, w dot com slash business, and on the dw youtube channel on chris kolber. glenn, thanks for watching. ever saw a successful with the dangerous dive was worth it. henri cosca could hardly believe his eyes when he discovered a pre historic cave under the sea in 1985. it's a treasure, but how can it be made accessible? with a replica now in display, in nearby my se, you're ro, max. next on d, w. ah, megan lou,

what people have to say matters to us. i am. that's why we listened to their stories. reporter every weekend upon d. w. ah . are there you love it or you hate it? brutal is architecture is still dividing. opin.