the european union, but hungry is especially hard hit, and it's not because of the war. and as tensions rise over time, one, us take steps to isolate its economy from china and taiwan. i've been for solon, let's do business. a 1st shipment of ukrainian grain has set off from the port of odessa, even as the war with russia rages. it's sailing under an internationally broken deal designed to release large stores of ukrainian crops to foreign markets. the ship and ships to come, being monitored from a control center in turkey along safe shipping lines. it's hard ukrainian grain can ease a growing global crisis. as far as hunger goes. vessel is carrying $26000.00 tons of corn and will head 1st to turkey for inspections, then on to lebanon, ukrainian official, se, unlocking ports will provide at least $1000000000.00 annually, and foreign exchange revenues for the economy. so, you know,

economists gabriella fed, elia joins us from vienna. how much relief will today's news bring commodity markets? do you think? well, there's certainly some relief. you know, prices have already anticipated the fact that the green deal is in place and the have started to come down already weeks ago. so what we now see is that the deal olds and that is the good news. when do you think real relief will come to the market? you know, the high prices of all sorts of commodities. we core. so it bees rice also not only depends of course on the, the war new crane. they depend on weather conditions around the cold on the harvest, that is going to come in this full or to started to come in already. and these factors are quite important as well. and so the fact that ukrainian or russian

commodities are more easily going on to the world, markets is good, but it will remain high. and the shortages are on the, on not only cost by what they wore my clear method conditions. apart from those 2 factors, what, what would you say, would you say more is driving up prices right now, or is this to a certain degree post pandemic inflation that we're seeing in so many parts of the world? so i think the volatility is certainly due to the war, but we have seen one crisis or divorced oxygen crane that is true for a lot of food staples as well as this reflects of course, the recovery of the world economy after the crisis. this has driven the price is now that we see the u. s. b in recession, the germany close to the china slowing down. this will probably reduce the amount for commodities that will bring down some of the extra price growth that the

recovery after corona has generated. so i think the more important trend and the more no longer live trends is connected to the, to the corona cries, this was the war really brings is the policy. and that if you get older, as far as high inflation goes, well how, how much longer do you think consumers will have to put up with this? where are we talking? months, are we talking years, the people will have to get ready for you normal types. we're talking years been i think this is become quite clear now. all the data that comes in on the police and expectations shows that it leads to the next 3 years. inflation will be much higher than the 2 percent or so the central banks around the world to target. and even in the 5 years window course, a lot of uncertainty there. but even though that long window expected completion

remains to percent. but of course, again, it's true that the central banks are reacting if growth comes down faster than many think it will, then this will also bring down depletion faster. but it's certainly sold at high inflation. is not something that will be, or let's say in a couple of months. great to get your take on those topics. nonetheless, we have ever my senior economist for us in vienna. thank you. thank you. good. or people are feeling the effects of high inflation suddenly and hungry pensioners are especially hot here that the government has thought at setting prices for certain foods. otherwise place would be even higher, but its businesses that are paying the price t bore cells beans from his garden at the market in cure. he's 82 years old and has

to earn extra money. he says his pension is $230.00 euros a month, and it's only getting smaller because hungry is inflation. is it a 20 year high? although i little cover i just by less when i get milk, i no longer buy for leaders at just 3 and i don't fill up my glass any more of that ever happened? oh ha. this is how many people deal with inflation in hungary. the government is trying to help by setting prices for some goods. they must be sold at the same prices as 6 months ago. without that inflation would be 14 percent. but now producers and sellers are forced to absorb the cost. had nekisha then it's difficult because everything has become more expensive, but we're told what the price has to be that are all e u countries are suffering from the effects of inflation. but hungary, more than most, a big, big reason of the high inflation environment in hungary. is the war itself and the

sanctions are which have been imposed by the european union. but hungry has been granted exemptions from sanctions. it's allowed to keep receiving cheap russian oil . experts say the real reasons for the exploding prices came before the war. part of the inflation is the government to her because the budget has spent too much or 2 years ago, and those were last year and this year in connection we did the election. there's been plenty of government spending an overpriced construction contracts that largely benefit government allies. the e u has withheld funds due to what a all's deficiencies in the rule of law, the keep getting bigger in response, the government is introducing new taxes for small businesses. there have been days of protests and the government has been pushing for the e. u to release those funds with before the government takes surreal. convincing step, i don't think the european institutions are in a hurry to provide the money. and the more we wait,

the higher is the cost of financing the budget deficits here and get people fear that inflation will just keep on climbing even if apricots, or particularly be plentiful and cheap this year. in other business use. shares in alibaba have been falling off the u. s. authorities threatened to de list the chinese e commerce company in new york. that is, if it doesn't comply with auditing requirements, report what the announcement comes as tensions between washington and paging. grow over a range of issues including technology, human rights, anti one, pilots, a german airline. look tanza have voted in favor of a strike. it could mean further disruptions during the busy summer travel season. the policy is demanding a 5 and a half percent pay rise. strikes and staff shortages have already post carriers to cancel thousands of flight san course, hours long queues at major a part. time when he's tech jive

t s m c warns an invasion of the island would render its factory in operable, devastating global supply tensions arising ahead of a potential visit to taiwan by you waste house speaker nancy pelosi and the growing chip shortage continues. last week. taiwan said it's key position in making semiconductors won't be shaken in response to the us passing a law to subsidize its domestic semiconductor industry in an effort. it says to compete globally, europe wants to ramp up production. germany's been trying to clench a deal for a plant from t m. c, the biggest player, the companies factories in taiwan, a running it for capacity to alleviate the shortages over to our studio in taipei where exactly is standing by ear in germany and in europe. some politicians are wanting about lack of semiconductors due to the tensions in taiwan. do people in taipei have the same concerns?

was you mention people here to have concerns about a shortage of cheap. but this is not because of the tensions in the region for sure . an attack by china will cut up. so technology co goods, a human capital for lease is up the abyss, least less than the most people are concerned about local people. you are very used to china all attention to china and by what appears in between the us in china. we've been discuss laura if the chips and science act passed in the us last week. there is a plane to increase the amount of my close chips in the u. s. there has been tie. one will read about it keepers, the should you make, you send me conductors with we all know tie one place. the important role in global supply upset me, conductors it dominates the was production of semi conductors to response a to respond to the chief ac in the us. the tony's authorities also try to surely

come to the doctor duction. yes. made a statement regarding the ships in the us saying that it could help pie one nice chip make us by providing them subsidies to build their manufacturing facility in the u. a. zack, can i just ask you how you see this story developing? considering the importance of the local semiconductor industry to the world and all these different changes and challenges that are facing the industry right now. yeah, it's amazing to one has t s mc, which is the largest to make a mix while they're half of the chip in the word in our daily life medium. all a high tech products have high quality chip in site. since you have an eye for your pockets and also a laptop desk top, those old needs ships, insights and chips us so insane. so companies of electronic devices,

like if like the brand of electronics in abilene, technology is critical to global economy goods as well as nation know, security and the countries global compete. people news. and this is why it came with manufacturer industries very imposed in full world. okay. it's going to be very interesting to see how this one plays out of the company than countries involved. and the competition is going to remain fears. i'm sure. exactly for us there inside a thank you. thank you. now, during the pandemic cape was one of the most isolated countries on earth, but a very beautiful one. and now, on to more than 2 years, new zealand has lifted its final border restrictions related to coven 19 all overseas visitors. and there were lots of the ones made now apply for a visa, it's hope is will give a boost to the countries tourism industry, allowing people to come and see new zealand spectacular scenery. it well as well,

make it easy for international students to return. that's also a big business for the islands. official say they only expect a slow stop. and a reminder of the top business story we're following for you. this hour for a shipment of ukrainian grain has sent home for the port of odessa, even as the war with russia rages. it's saving under an internationally broken deal designed to release large stores of ukrainian crops to foreign markets and hit off a global food crisis. i'm been puzzling. nice doing business with ah, with

high oh. of composer alicia prod, adult hitler's obsession. ah, has ever been better background music for megalomania for gross and on arts 21 in 30 minutes on d. w. back to ukraine. geary cosen has new idea what is waiting for him in urban but the photographer has made up his mind. she wants to document the devastation and human suffering may accompany him on a difficult return to his home country, which is still at war. close up. in 75 minutes on d, w,

i n a journey across the entire continent with a variety of cod. so would on this. so we focus the movers, shake as visionaries and make us when bonding the meaning of modern africa is actually starting august. the 5th on d w, when making the headlines and what's behind them. dw news africa, the show that was the issues in the continent. life is slowly getting back to normally on the streets to give you in the report on the inside our correspond that is on the ground reporting from across the continent, all the trend stuff. the mazda u. t. w is africa every friday on d, w. ah

ah, this is dw news alive from berlin. ukraine resumes grange shipments to the world's cargo vessel, set off across the black sea after turkey declares it's safe to sail here the 1st to export ukrainian grain by sea since the start of russia's war. also coming up on the show senate.