on our show, can germany keep worker wages in check, amid rising prices? we'll look at what the government is telling, unions and industry groups. and prices are rising fast across europe. will take you to the country where they're rising, the fastest. hello welcome to the show. i'm see from beardsley in berlin. it's good to have you with us. the euro touched a 20 year low against the u. s. dollar in early trading tuesday, following new concerns over an economic slowdown. the euro reaching $1.03 a level not seen since the end of 2002 behind that slide. as a new purchasing manager survey published by s and p global on tuesday, the showed a 16 month law low in overall confidence, and worry about gas supply in germany and a strike by norwegian gas workers, or adding to that cloudy picture. or a raji biswas as chief economists for the asia pacific region at s and p global market intelligence. he joins me now from singapore, russia good to have you on the show. it is

a turbulent picture for markets right now, and it may depend on what region you're looking at. can we really say what direction things are moving it? is it the direction towards recession? i think it really, as you say, depends on which region you're looking at. certainly the technical indicators in the u. s. are signaling that the u. s. may and her recession as early as in the 2nd quarter 1st quarter g d, p was negative in the u. s, and a lot of the high frequency indicators of signaling the up the 2nd quarter males. so to printer, negative territory, which would then create a technical recession. but when we look at the situation in the asia pacific, many of the indicators of such as the s and p global ph purchasing manager index survey indicators for many of the countries in the asia pacific actually showing

expansionary conditions and some very good news. i came out this week with china purchasing manager and numbers, particularly the services sector for showed us huge, rebounded in june, so that signaling and in the asia pacific momentum is still quite positive on that topic. today, markets in asia, up on this, the increased possibility that you as president biden, may set aside some chinese tariffs to lower the prices of certain u. s. consumer goods. how important would that be for both markets and of course, for the businesses in that region. i think of when we look at from the u. s. point of view, of course, they're confronted with very high inflation, the highest and many decades. so i think the biden administration is considering rolling back some of the trump ero tariffs and letting them expire a quite

a number of these tariffs are due to expire, either this month or in the next couple of months. so that would be an opportunity to reduce tariffs on chinese consumer goods. iowa i took areas and that would help to reduce or at least marginally inflationary pressures in the ross. and of course, for china, that would be good news in terms of boosting their exports as well. and it does have positive implications for other countries in asia. because manufacturing supply chains in asia are quite integrated. for example, chinese products. i have components that come from south korea from japan, from southeast asia. so what's good news for exports from china is also positive for other countries in asia pacific. all right. raja is was with s and p global market intelligence. thank you very much. thank you. rising

prices are cutting into worker paychecks. it's not a surprise then that labor unions want to account for inflation in new contract negotiations. leaders in germany would like to avoid a wave of such wage hikes. that's why they met with union and industry leaders on monday. it's the perfect economic storm vegetables and grains a 10 percent more expensive. the price of petrol at the pump is up 50 percent. the cost of gas and electricity is more than tripled within a year. the average german consumer is feeling the pinch with many having to cut costs the look on the sun. i'm already aware of that because i'm on maternity leave right now and on a limited budget, we need to cut back more and spend more carefully without leaving the light, we'll get through it somehow. people have survived inflation before it will all

work out. the helpers of this will, i hope that it'll come back down on its own, but the situation isn't easy right now, but hopefully this like as well. i hope so, but whether the government can make a difference, i don't know, and that was with it can come by the unified as this germans are looking again to the government to intervene for some their income isn't even enough for the essentials, the use of food banks is on the rise, and chancellor sholtes knows that high inflation can inflame social tensions. sholtes of sat down with unions and employers to hammer out the next phase of support. he points out the 30000000000 euros and 8 that's already been approved. that forgot unlikely that this includes an increase in the basic tax allowance and employee lump sum, $200.00 euros, one time payment and welfare support. the higher heating allowance for housing benefit recipients, a 100 euros per child along with 20 years each month for children and poorer circumstances, and $300.00 euros energy allowance that i get your stay and we stand before

a historic challenge for an average working household, the government has so far offered relief worth around 1000 euros. but the, the less than the burden on private households is set to go well beyond that. and that's why we need further consultation on how to reduce the burden isabella, from incline height. and then concrete results are expected to follow in the autumn until then consumers in germany will have to hold out. now to some of the other global business stories making headlines. china is considering dipping into its strategic port reserves to rein in prices of the staple meet. that's according to the country's top economic planner. port prices in the world's 2nd largest economy spiked late last month with the meet selling for 32 percent more than in june 2021. as market supplies dropped south tree and inflation in june

had its highest level since the asian financial crisis. more than 2 decades ago, the consumer price index rising 6 percent in june from a year earlier. that's the fastest since november 1998. the increase has van expectations of rate hike. german authorities have approved plans to construct the countries 1st liquefied natural gas terminal. in films oven on the north sea coast energy supply unit, her says construction will begin immediately and is expected to be completed by the start of 2023. estonia is by many measures the wealthiest of the 3 baltic states. a, currently it has the highest inflation in the entire euro zone, or correspond killian buyer reports. did a para, with a warm greeting under linda invites her next batch of guests into the museum where she's working no stick. i like to honda, the 78 year old former artist speaks for languages and has a deep interest in history. may be on the down summer,

but she's not here by choice. rising living costs have driven her to pick up a summer job posting. iq, are he not the every price increase is scary in a sense. i have tried to live frugally so as not to give myself even greater fears than the price increases already create. so this job is very necessary. the picture yet there gave me none regarding prices have been on the rise for months across the u. the warn ukraine isn't helping but it's estonia that ranks above the rest. inflation rocketed to over 20 percent in may 2022. the countries building industry has been especially hard hit. higher energy costs and the effects of war sanctions have made building materials grow more expensive on these workers are constructing a 150000000 euro building complex in talent center. it's price has risen

significantly if you are building department said that it means that every apartment will be 20 percent more expensive for anybody who wants to purchase it. estonia central bank expects inflation to begin slowing in 2023, but says price is for consumers will remain high for years to come. at the moment it's mostly i have poor people who suffer more because of these kind of costs and take up a larger part from there and monthly expenditures. people like on a linda. she doesn't profit from rising wages because she's on a government pension. this means her disposable income remains unchanged while the price of living climes she's had to adjust. my is how can i can buy expensive food?

i need to look at the price, especially better. the price differences can be quite large. but i don't want porridge without butter, my weight, my, the harpoon and a linda says she's trying to eat less and use as little electricity as possible. ah, she hopes that prices will go down some day. in the meantime, she's left to tighten her belt. well, you've probably heard of sniffer dogs, highly trained animals that can detect legal drugs and other contraband in australia. some dogs are now being trained to add a few cents to their repertoires. u. s. b sticks. microchips, even cellphones. the idea is to combat cyber crime. in the drawer, good girl, well done. this clever dog has learnt a new skill using her incredible nose to sniff out a usb stick hidden in this training room and cambra. it doesn't take her long to

find it inside a coffee machine. these dog specifically tied up those items that might otherwise be missed in the search. if someone is involved in crimes like child pornography or terrorism, they're not going to have this stuff on their laptop where investigators can easily find us. that's where the dogs come in. oh, good girl. we require the top one percent of dogs that will say through the program to succeed in this discipline. yes. good. go to pick from as young as 9 weeks old for a strenuous training program. how exactly they're trained to sniff a digital media that carries a memory like u. s. b devices, sd cards, and cellphones is kept secret. i to go from morning to afternoon and some night shift there as well too. and it's been about a 3 month process to just get these dogs out and working. ah,

and the reward for their hard work at the end of the day. a simple game of tug, they're only paycheck, is to get a big play in a big game. they end up doing something right. leaf 9 dogs are working all over australia. so far they found $328.00 items helping solve crimes. 2 are in training . this force is given, criminals pulls for thought and i already satisfied. coming. funded. right. that's it for me and the dw business team, find out more online d w dot com slash business for us on youtube, or the deed of news channel beers like watching with

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with issues and share ideas. you know, on this channel we are not afraid to copy. young people clearly have the solution. good future to the 77 percent. every weekend on d w sometime shall rise out at you t the highlights for she knew in books and free week. now cannot. ah, i think everything jenny fair, some are big. i'm listening. so much different culture between here and there still challenging for empathy. ah, in december i think it was worth it for me to come to germany. shove my got my license to work as a swimming instructor here. dish and now i teach children under dogs to swim

desktop. just what's your story? take part. share it on info migrants dot net ah ah ah, this is dw news live from berlin, russian shelling of easton, you cried, increasing cities in done yet come on to growing attack and residents flee as ukrainian force is set up new defensive positions. also on the program rescue workers in italy continue the search for high cuz missing.