yes sir, are gathering at a meeting of the world trade organization. can they agree on fresh deals and a reform of the group will 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 show your 1st over in berlin. 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 accumulated losses worth about $1200000000.00 . the industry ministry says the truckers want a minimum freight rate in the face of soaring fuel prices that are raising their finances. southwest president uses your all has ordered is top aides to find a way to reduce the impact on industries and tackle red hot inflation.

let's get more of this from yeah. 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. now one has to understand transport workers be a truck, us port rocha see ferris. they are caught between a rock and a hot place. they, they have been affected very strongly negatively by or the pandemic or the stress on them. and then they are now also affected by higher prices. and what we do see on the, this shortage is this delays,

this strikes threats of strike speed and korea be the number b, the los angeles. they do lead to more uncertainty. they lead to long waiting ships recalculated pre core 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 transport. 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 where 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 fips 80 percent of global trade in volume is shipping. they have to wait longer, they spend more time in port, they have to go longer distances. you mentioned crane to 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 you have a fixed number of ships they need to go long distances. these editing ships that we would need are not there yet. they take time to bit so or 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 o estimate is at the highest shipping cost, i afraid rates leads to an additional $1.00 percentage points off consumer prices. so inflation, which is already going up through dr. energy and other courses, 1.6 percent at a different percentage points are due to higher trends. what goes into the global average? if you are a small island developing states, if you're far away the thing

a lot of my time, the small island states their prices to up by an additional 8 point one percent. you know, was them a difficult situation? certainly young hoffman of the yearns conference on fight and development. thank you very inside. thank you. and now to some of the other global business stories, making news to pans yin has fallen to 24 year low against the us dollar japanese. the currency has been weakening from once 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 a 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 the co would 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 least gathering director general goes your quandary. well, predicts a quote, 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 expected growth of almost 5 percent this year for 2 decades. the world's reg on trade organization has been trying to limit over fishing and the world sees and some say, a deal is close. members also help 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 re form is also on the agenda. not a short while ago, i spoke to rita narly carr. she's the president of the german institute for global and areas studies. and i asked her what her, what she has been hearing from the meeting in geneva, where the atmosphere seems to be pretty contentious. 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 room 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 fishery subsidies. that the concerns of

artisan art is a no small scale off earth fishery fisheries. cottage industries are not being taken into account. there is great concern on the question off a trips waiver to ensure a vaccine equity on which you asked since switzerland and that 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 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 read a, i would 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 this 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 on reader. 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 or 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 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 of decision making. and 3rd, the w t o needs to be engaging more with real people. it 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 car for the end of the german

institute for global and area studies. thank you for your time. thank you. tasty and nothing else. that's the claim for russia's newest, fast food chain, the food looks familiar as does everything else. that's because the new restaurants, all the countries rebranding of the old mcdonald's restaurants after the company left russia over its war, a ukraine. this is mark, bring back the big mac, says this protest, her interrupting the opening of cushioning tosh. 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 boat rush has growing isolation as more and more international companies leave. i jumped at the scene outside, long lines, customers eager to try the newly brand at 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. but it looks the same to me, the fries and the fish burger. that's the one i've like vest 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. asked for that big mac. 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 for your name in you. it will taste the same, but it will have

a different name. it will 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 form a mcdonald's restaurant 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 cornell. and thanks for watching, never selfish success. ah ah with

ah, what is the polar jet stream have to do with climate change? one thing is clear, this strong current is slowing down. a team of researchers and spit again is searching for explanations. how are high and low pressure areas changing? is the polar jet stream contributing to the warming of the arctic tomorrow today? 90 minutes on d. w. a thought they were great able with

the green with. do you feel worried about the planning? me too. i'm neil. host of the on the grievance of cost, and to me, it's clear we need to change the solutions are out there. join me for a deep dive into the green transformation. for me, a welcome to the dark side. where intelligence agencies are pulling the strings, were organized crime rules, where conglomerates make their own laws? we shed light on the opaque worlds whose behind benefits

and why are they a threat to us all o peak will this week on d, w a v w news line from the ukraine says it's force is a fighting for every meter in the eastern city of severe done, yet, many civilians are sheltering in a besieged chemical plant, brushes, destruction of all, but one bridge out of the city means there is little chance of leaving. also on the program.