and a taste as africa in every school will take you to tapes and 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 dots. the rather bleak outlook. the international monetary fund has communicated for this year. but perhaps there aren't thumb bright spots report. i would, i, 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 a massive co it outbreak. may jinx grow to stunt it,

but to forecast points to better and then start to the year for the world's 2nd largest economy. now on the tensions between china and the us, the repercussions of they are ongoing. the coupling are costly. the i m f, calculates the 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 economy is to deal with what's coming. a strong dollar or continued high interest rates would hit towards emerging markets, dozing. that will, how to be cautious, as the amount they owe could inflate as the dollar gains. as for europe, the war in ukraine and resulting energy shocks have greatly devastated the economy outlook. but there is one bright spot, freedom from energy dependence on russia is getting closer to talk more about this last spring. and mo has should, i think he is

a professor of economics at the university of bon. i more 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 europe from gas than people who are very, very pessimistic about this winter. and the next year, ah, now i think it's 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 as expect us go into 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 moscow with we thought that they had a bigger and more important lives on the world economy than they actually turned 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 are 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 was, which then means that next winter is going to be less of a problem. so i think let's get this half empty, half glass, half empty glass, half full, half full thing, right? things clearly don't look grapes, but it, this is also not a covered yet. this is not a global financial crisis here. and this is not a 2001, this is a bad year, but, you know, we've cope with worse. i am life. and really briefly, if you can, what about inflation apart from raising interest rates, market policy makers actually tail? well, i mean, inflation is the 1st and foremost the domain of monetary policy. so this is what you say is interest rates is, is, is really 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 months. it's too early for the all clear. and we still need to wait for, 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, okay, 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, but of gas prices come down, especially for europe. the outlook is also better than grade, like 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 payoff 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 $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. hi, i'm here. 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 pay gap. 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 around the pick up 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 and descript, a 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 it 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 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 direct of 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 right 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 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 tend to pay gas in the e u and not despite some pretty progressive policies. you mentioned africa changed

there, 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? no, father, i don't think, you know, it's one of the really interesting things about this study and the oldest themselves. i 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 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 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 that during 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 brief with in germany is that it's a lot of its economic edge comes in industrial sectors and there still is not recommend representation 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? a creamery in cape town has become one of the cities most talked about food establishment since opening in 2020 i offering such well unique flavor. when top you are goose, i 1st started making ice cream 12 years ago. he 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 aspirational thing to

say, i don't eat african food, i eat italian food and eat blah, blah blah. you know, and at some point i realize actually we need to correct this narrative, that's things from africa, 2nd rate, or the not as important that it is valuable or then it was delicious accessible. so i started to try to address that problem or thing in the world we, we have africans and 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 band to means yum, yum 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 bow bout with ginger. customers are always surprised to some or touched many se there's struck by the familiarity of the flavors. a growing up with new that ice cream can be vanilla, something that is, is not from here. now if you eat something like sam, something that you know we grew up eating at same time it's, it's, it's,

it just mix you could make it connect to with your child to top. you are gazelle says he's concocted over 800 ice cream flavor. so far, no flavor is ever repeated, he says, and he believes there are many yet to be discovered. not just for africans, but for tourist looking for a taste of the continent. and that wraps up our show for more. you can always go to the daily 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

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