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tv   Business - News  Deutsche Welle  January 3, 2023 11:15am-11:31am CET

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he has a quick reminder of the top story with following flea. russia says 63 of its soldiers have been killed in ukraine, a red mission of military casualties from the kremlin. ukraine says it launch the strike on museum and says the death toll is actually in the hundreds. you are watching, dw, and use life from berlin. business is up next with kate ferguson will be looking at i am f predictions of recession and much of the world this year. i meant the kind of like so much for being with a question about life, the universe and everything. you know the answer. well man give it here the answer to almost everything our
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documentary series with whatever, raising ground break. mm hm. can we go into the afterlife? are we giving dumber and dumber? how can we feed everyone? questions for the present and future ap heads filled with ideas. so get ready for the brain update. 40 to the answer to most everything starts january 15th on d, w. a . a 3rd of the world is heading for a recession and inflation will continue to plague the global economy. well guess expert analysis on the international monetary funds less than a rosie, as look for the year, same work and less pay new research. yes,
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we may need to reassess our assumptions about the cause of the gender pagan. and a taste of africa in every scoop will take you to cape town, where ice cream lovers are flocking to try some unconventional flavor. this is think of the business. i'm kate ferguson. thanks for joining me. much of the world is heading for a recession with the war in ukraine. the pandemic and geopolitical attentions casting a long shadow over the global economy. thoughts of the rather bleak outlook, the international monetary fund has communicated for this year. but perhaps there are some bright spots reporter words. iran has been taking a look at new year and some new forecasts. 2023 is being tipped as a year of economic slowdown. that's according to the i m f, which says the china, the u. s. and the european union are set for a period of economic turbulence. let's begin with china, which is dealing with
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a massive corbett outbreak. bay jinx grow is stunted, but to forecast points to better and then start to the year for the world's 2nd largest economy. now want attentions between china and the us, the repercussions of their ongoing. the coupling are costly. the i m. f, calculates to detroit, split, could cut global g, d p by more than one trillion dollars. the i m f, chief believe's. the u. s. may be the best place of the world's biggest economies to deal with what's coming at us. his most resilience us may avoid the recession. we see the labor market remaining quite strong. the eel, very severely. a hit by the war in ukraine, half of european union will been recession next year. a strong dollar or continued high interest rates would hit towards emerging markets,
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dozing that will have to be cautious as demonte oh, could inflate as the dollar gains. as for europe, the war in ukraine and resulting energy shocks have greatly devastated the economy . alt look. but those one bright spot, freedom from energy dependence on russia, is getting closer to talk more about their flattering and moorehead schuler. i think he is a professor of economics at the university of bon highmore. that 1st question for you this i look from the i m f. is it better or worse than you expected? i think it come depends on where you're coming from, really. and if you, if you look at what some of my colleagues were predicting earlier last year when the war and the russian aggression against ukraine started and people are thinking about the effects of cutting your above from gas than people who are very, very pessimistic about this winter and the next year. ah, now i think it's
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a scenario that we can all deal with. it's not great, but it's not the end of the well. ok, so a 3rd of the world is expect us go into a recession. let's talk about the other 2 thirds. i am, i've had crystelina, georgia, eva. she said it might feel like they're in recession, even if they're not. what does she mean by that? was probably means the growth is so slower, anemic, if you will, that it doesn't feel like a very booming positive outlook, an economy that generates lots of jobs and opportunities and but i think, you know, i mean this is old question of whether the glass is half full or half empty, and the, i'm certainly let's put it this way. i think there was certainly people in the kremlin and in moscow with we thought that they had a bigger and more important lives on the world economy than they actually turned
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out to have. so this is not a great year for global growth, but it is also one that the will community can manage. and if you look at the forecast, especially for europe, they have been much worse to have been in parts upgraded even for, for next year. and if we currently look at our, the temperatures in europe, then you get a sense for the gas situation is not nearly as problematic as some feared. which also means that we'll leave the winter probably with quite some gas in storage, which lots, which then means that next winter is going to be less of a problem. so i think let's get this half empty, half of glass, half empty glass, half full, half full thing, right? things clearly don't look great, but it, this is also not a covered yet, this is not a global financial crisis gear. and this is not a 2001, this is a bad year, but, you know, we've cope with was i am life. and really briefly,
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if you can, what about inflation apart from raising interest rates? why can policy makers actually tail? well, i mean, inflation is 1st and foremost the domain of monetary policy. so this is what you say is interest rates is really what, what the main policy tool is. this being said, again, there's been some positive news on the inflation side of the u. s. and also out of europe in recent month, it's too early for the all clear. and we still need to wait for at least a few months to be sure that what central banks have done so far has stabilized expectations has not me, has meant that inflation is not a going over into you know, ok, nate wage negotiations in a way that is that is too, too high, so look, i mean, there to inflation is something that bears watching,
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but of gas prices come down, especially for europe. the outlook is also better than a few months ago. well, you're welcome. now women earn less than men in every advanced economy in the world. this is despite a slew of policies aiming to redress the balance and years of discussion about the topic. according to the united nations, for every dollar a man or is a woman, takes home just $0.77 a co efforts to address the issue are well underway. but at the current rate of progress, it would take 257 years to close. the gender pay. gov. a recent study by the journal nature human behavior has taken a closer look at the issue. researchers looked at the situation in several advanced economies. you can see a sample of them here. and the difference and pay between man and women in each
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$1.00. there, the study came to some interesting conclusions which my colleague i for solvent have been looking into. that's got the breakdown from him now. i think thanks for calling on. i am wondering this study seemed to really up and some of the assumptions we have by the causes of the gender paid up. why is that? yes. so one of the big underlying assumptions which has been behind a lot of the research that's been on the gender paragraph for decades now is that that the majority of the issue are on the pickup comes from things called as sorting and segregation issues in terms of jobs that basically means that women end up in lower pet sectors. and obviously there are structural m district to structural discrimination within that, in that a lot of those sectors which become in, quote, marks feminized or structurally undervalued. but what's fundamentally different about this story is that shows that to a much larger extent than previously thought. what is known as within job inequality is actually responsible for half the pig up. that means men and women doing essentially the same work or been paid less. so it's not because women are
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doing different jobs that are typically paid less because they're actually simply paired less even though they are in the same job. and that accounts according to this story for roughly half of the peg up in the 15 countries that are profile. okay? so if we know that this is happening, the obvious questions, what can we do by that? well, one of the things that the authors of the study say that's so important for this study is that this does different sets of policies required. so in cases where it's an the segregation issue, it's important to encourage women to come into jobs which are better paid. but this other issue, this within job inequality is, is more difficult to deal with. but there is one consistent policy thread that's required. and that's pay and wage transparency and there is some work been done enough. for example, the e. u has brought in a directive which should come into effect in the, across the over the next 2 to 3 years. which would dramatically change the rules on wage and paid transparency would give employees the rise to get quite specific details on pay structures within their organizations. also would prevent employers from asking them about their own salary expectations, things like that would also give workers the right to pursue claims if the field
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have been unfair to discriminate. and that's one of the key areas that needs to be addressed. germany has brought in its own law and disregard a few years ago. there's a lot of criticism of that law. for example, one of the big ones is that you must be have at least $500.00 employees for a lot of its requirements to come into effect. so hopefully for those seeking a closing of this pe got this e u directive will be a big, big changing point. i want to talk a little bit more about germany specifically because it has one of the highest gender pay gas in the ear and not despite some pretty progressive policies. you mentioned africa changed that, but looking specifically at parental leave, we have been very generous policy where mothers and fathers can divide their time equally. but that doesn't seem to happen. why is there a motherhood penalty here? i know, father, i don't think, you know, it's one of the really interesting things about this study and the oldest themselves said the germany is a bit of a puzzle to them. because germany does indeed have those progressive policies, policies, one of the best paternity benefits systems in the world. and yet there is this consistent motherhood parent penalty in germany, and also the a peg up which was lag behind. a lot of the equivalent to sort of peers in northern
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europe, especially now it's hard to say exactly why that is. but one of the things is that women, because of preexisting inequalities, tend to be in the lesser paid roles. and so it's a self reinforcing issue that women with 10 then to take a little bit more leave of c as more there's also because of the fact of pregnancy they will tend to take a little bit longer than maybe health issues during pregnancy and things like that and they may miss out on opportunities during that period. it also tends to occur. the german women often will get pregnant in their thirties, and that's obviously a critical time and career development. so there are these issues that need to be address and again, policies have to come in to further level, the playing field for women to take into account these issues. another issue very briefly within germany is that it's a lot of its economic edge comes in industrial sectors and there still is not recommendation of women in those areas. ok, arthur sullivan. thank you so much. now how would you like your ice cream flavored with cinnamon kiss kiss or dry fish creamery in cape town has become one of the cities most talked about food establishment since opening in 2020 i offering such
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well unique flavors. when top you are goose. i 1st started making ice cream 12 years ago. you never imagined he'd be working with ingredients like roy bo said, pumpkin puree, but his promise is a taste of africa in every scoop. and that means using ingredients and flavors that are indigenous to the continent. at some point it became an aspiration. i think you see i don't eat african food, i eat italian food and eat blah, blah blah. you know, and at some point i realized actually wanted to correct this narrative, that's things from africa. second rate, or the not as important as valuable, or then it was delicious accessible. so i started to try to address that problem more thing in the world where we have africans on value ourselves. and consequently, we don't get to change your own foods as much as we should be. his little creamery is located in cape town and is called coffee toppy. which in ban 2 means young
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people often bring him ingredients from other parts of the continent allowing him to make ice cream with amaran's seed, biscuits and coconut or a bough bout with ginger. customers are always surprised to some or touched many se there's struck by the familiarity of the flavors. hand that wraps up our show for more, you can always go to detail the dot com slash business. we're also on the deed of the news youtube channel. for me on the team, it's goodbye and check with her a joy ride through fascinating worlds into uncharted deb this our guides know their way around with a strictly scientific trip to some pretty wacky places.
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curiosity is required to borrow today. next on d w. m. what secrets lie behind these walls? discover new adventures in 360 degrees. and explore fascinating world heritage sites with d. w world heritage 360. get the out. now. we need to talk about climate change. does that make you want to switch off? why and how can we change it? how exactly is global warming affecting agriculture around the world? the results of one study renaming but 1st we asked how can.

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