of the top story for you, our leaders have condemned the assassination of the former japanese prime minister shin to obey. he was shot, giving a speech of the political campaign event. former member of japan's navy was arrested at the scene. that's all for now of next our business show, daniel winters the state in for that of course. always the latest d, w dot com. now twitter and instagram at the w news. i'm laying blue craft thanks very much for watching with come have a v v t v highlight you every week in your in box. subscribe now. ah,

i think everything jenny, think fair, some are big. i'm listening. so much different culture between here and there. so challenging for everything ah, to some is this. i think it was worth it for me to come to germany. shove my got my license to work as a swimming instructor dish and now our 2 children did notice with what's your story? take part, share it on info, migrants dot net ah ah, the world is in shock at the assassination of sions. obey. we look back at the former japanese prime ministers, economic legacy. a landmark we're full that came to be called all they nomics. also coming up as boris johnson proposed to leave off is what mark as he this country's

economy. i'll ask one of his harshest critics veteran political advisor, alice to campbell, and surprisingly upbeat news on the u. s. jobs market. we'll find out more from on man on wall street and daniel winter and welcome to dw business. the world has been morning, a former japanese prime minister shins obey following his assassination residents of the city of nara, where our bay was fatally shot, have been laying floral tributes. ave was known for as radical reform agenda for the japanese economy. and king focus on growth. it was this legacy at the top of mourners. mines inara today. i mean, i mean, the machine's obey became known for many different policies. i think he's the one who led us through the difficult times of the pandemic. i'm very sorry that he's gone. the more i'm shocked with. what do them one more thing. i feel really sorry for such a long time. shinji obey tried so hard to make this country thrive again as if the

owner, welcome. he really made many efforts towards that the dodo competitor. let us in. i still cannot believe it. i feel shocked this such a thing could happen in japan. i am unable to find the proper words to describe my feelings now, and be at that a quote above me got a knife. mister, they faced suddenly low gross and low inflation during his time in office. to attack that, he forged ahead with unprecedented and risky changes to economic policy. he was one of japan's most influential politicians. sions, obey made a name for himself, with a clutch of economic and financial policies that were known as abbe nomics. when i said that we have been all mix, i will increase jobs and revitalize the countryside while making citizens

livelihoods better. it was a 3 pronged strategy. the japanese central bank fastly increased the money supply by almost 600 per cent of a tried to boost the japanese economy with credit financed economic programs. the downside was huge debts and he moved to deregulate the financial sector to make japan more attractive to foreign investors. these measures worked at 1st investor confidence returned, and the japanese economy grew. stock prices and company profits rose and jobs were created. but not every one shared in this new prosperity. real wages fell year after year. and so did the number of people in permanent employment. at the end of our base tenure, japan was economically back where it had started. critic see the late sion so abby's economic policies has little more than an attempt to boost the economy by

printing money. industrialized nations, watch the avi nomics experiment very closely since or are they, they're moving on to britain now uncertain times ahead for the u. k. now that prime minister boris johnson has announced his resignation the races on to find the next p. m. johnston is preparing to leave just as the u. k. a staring down a plethora of economic woes. inflation is set to hit 10 percent and there a dire forecasts for next year. several conservative party members of parliament are already having their eyes on 10 downing street, including former finance minister, richie su, neck. and his replacement the deems of holly to break down. johnson's economic legacy and to look to the future in the u. k. i spoke earlier to someone who intimately knows the challenges of the heart of government. allister campbell is a former advisor to prime minister tony blair. and one of boris johnson's fears, his critics. he joins us from london. thank you very much. allister for joining us . johnson's tenure has seen many economic challenges from bricks it to the pandemic

. the economic fall out from russia's war in ukraine. what's your assessment on how he's fed? well i think badly in breaks is going to be part of that nobody can pretend that breaks. ready in a failure, even by the government's own assessment, it's taking 4 percent out of our economy is hitting our productivity very, very badly. and johnson hasn't really taken seriously measures needed to fix that. i mean i accepted cobra was very, very difficult for government right around the world. i think one of the reasons why he's been forced out is because of the fundamental division that seems to develop between him and the chancellor richie soon act about what sort of economic policy should be pursued. and the fact is that we've now got the highest inflation in decades with the highest tax rates in decades. we go spiraling debt. we've got food, absolutely explosion and food banks. public service is really under threat. so i

would really say that johnston 10 years. ready complete failure. let me put in an alternative picture for you. he shepard, a successful vaccine roll out, and you may disagree, but in the eyes of much of the public, he got breaks it done, and new trade deals done. and you can't necessarily point to most of the current economic problems and plant pin the blame purely on breaks it as a lot of that is due to coven 19. what's your reply to that? well, 1st of all, i wouldn't just put it all in breaks. it, i would go further back, we've had 12 years of conservative government, which, whose response to the consequences. the global financial crisis was a decade of us 30. that we can the economy as well. and likewise, i accept that cobra is very difficult. every single government, but i think it is very due to the divorce, our current economic difficulties from the reality breaks it and from johnston's populism. and his belief that already had to do to make great success was to say that it was going to be a success. and when you say he's got it done,

it's true that he's legislated and we've left european union. but there is so many loose loose ends still to be tied up is the crisis of the peace process, not under its trading arrangements with the european union. and the trade deals that thus far have been struck, being so tiny as to barely make a pinprick into the economic damages already been done. so talking more about the you trade ties between the u. k. in the you have suddenly afraid since breaks it. and the up, the something is for you as a remain nor is that even the opposition in the u. k. doesn't want to campaign to re enter neither the, you know, even the single mock and all the customs union. so regardless of which party is in government, the u. k is staying out. so it would seem like remain as like yourself, have simply lost the political argument. what i said is that the, the, the mood. ready country is, was still a very divided country, but it's not that long ago that we had over

a 1000000 people out on the streets campaigning for people's vote. ready referencing the outcome of the brace integrations, and i said that pain is faded away. and as you say, the labor opposition is this just this last week and said that there is no intention to revisit the idea of the customs union single market. now i get the politics of i do understand the policies that but i think the economics at that very, very difficult. the fact is, all of these problems that we're facing. they can't just be wished away. they have to be resolved at the least. that requires is actually to start to think about how do we redevelop really serious trading raiders, european partners, and in the political level, i guess the opportunity was johnson going. i think it's fair to say the most serious european leaders that johnson was a complete joke that he was a liar, that his word can be trusted, that he didn't really address seriously. the problems that seems crating. and i worry that because of the nature, the conservative policy and the conservative party,

the alexa that's not the public. and that, you know, we're probably going to end up with somebody who probably won't be as bad as johnson, but won't necessarily address these issues in the way that they need to be addressed to really seem to fix the problems. there's no doubt there are problems and it's, you know, i actually didn't european years has been pretty patient. given that this was an act of self harm that we've been inflicted upon ourselves and the europeans tried to work out. but i think that there are things that can be done on both sides particular. ready relation to that could get this resolved. if there's goodwill on both sides, the trouble is the johnson at the helm. there has been a complete evaporation of any. ready well, because because of what is that was veteran u. k political political advisor, allister campbell speaking to me earlier. and finally we look to the u. s. now where new job figures have significantly outperformed expectations. the world's largest economy managed to add $372000.00 jobs last month. that's well above

economists. forecasts and the unemployment rate remained at 3.6 percent that only slightly above the lea, a record low before the pandemic. and who better to break this down forest against caught in new york yet another week. another jobs report. how does this one stand out from the rest? well, a daniel at the fed chairman jerome paul just recently said that the labor market in the u. s. is unstained, ably high. well, what does that mean? so now we have more than a $100000.00 jobs, so more than expected. so obviously the labor market remains a pretty hot. there was a slight negative. if you look at the participation rate that a fell and probably also the pandemic is still a factor by a lot of people do not return to the labor market yet. but if you look, for example, at the job openings, they're still almost at the record highs some so overall and the labor market is

doing pretty well at this time. so good news in the labor market, but where is this going to go? are economists expecting the rate of jobs growth to slow i mean to a certain degree, we already do. see that growth is slowing. so the figures of june, when it comes to new jobs was a little bit lower than what we see in may. but then we have the federal reserve aggressively increasing interest rate, so they want to calm down the economy. and with that also job growth. so it is pretty likely that job growth will be slowing, but it might take some time. i mean, it's still at a lot of places where you look, people are looking for a labor, so it is going to take some talent time to cool this labor market off, but then also on the upside to at least 4 workers in the united states. we did the wages go up in comparison to last year by 5 point one percent,

but on the other side, that means bit more of an inflationary trend here in the united states. but to answer your question shortly, yes, growth is going to slow. how fast and by how much remain to be seen. ok, so good news on the job market, but a mix picture ahead and quarter on the new york stock exchange have a great weekend. thank you very much. not set you up to date with d. w. business, if you want more from us over the weekend, check out our business specials. you can find them on the d. w can use youtube channel for me on the business team here in berlin. thank you very much for watching what's making the headlines and what's behind them. dw news africa. the show that the issues have been the continent. life is slowly getting back to normally on the

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