such as restricting water availability and equipment failures. nasa hopes the simulations here on earth will allow the united states to send people to mars. in the next decade, you're watching the w news stick around for business news up next with stephen beardsley. i will see you tomorrow. thank enjoying the view. sh, come take a look at this tv highlights every week in your inbox, subscribe. now. how can journalism help us in overcoming divisions? register now for the d. w. global media form 2023 in bonn,

germany and online and increasingly fragmented world with a growing number of voices, digitally amplified. you see where this clutter can lead what we really need, overcoming divisions into vision for tomorrow's journalism. register now and join us for this discussion at the 16th edition of d. w's global media forum. ah ah. so much for the soft landing, a new report paints a dreary picture of a global economy suffering under rising interest rates. it says a credit crunch, and bank instability are among the risks of fighting inflation. also on our show, china as putting more export controls on minerals needed for battery production.

look at what that means for the race to build electric vehicles. i'm see convincing berlin, welcome to our show. the fight against inflation is putting a dent in the global economy and relief is not just around the corner. that's the message of a new report released by the international monetary fund at the beginning of its spring meetings with the world bank. analysts say the downside risks of fast rising interest rates are growing, including instability in the banking sector and hydro, borrowing conditions only by countries can't yet afford to stop the rate hikes with inflation proving stubborn. we spoke to the head of the i, m. f. team responsible for that new report and asked how economies would know when it's time to stop there? monetary tightening. the last few months, unfortunately, have shown that underlying inflation has been pretty stubborn and plateauing rather than coming down in a lot of countries. the good news is that oil prices are coming down. we expect

about 24 percent for in oil prices in 2023. that will help. but our sense is that it's about 97 percent of countries with an inflation target. almost everybody will miss by a large margin in 2023. and even in 2024. it's not until 2025. that will know probably that we're close to landing. how concerned are you on dep distressed in emerging markets and developing countries? this is a very big worry because with the higher interest rates and the lower growth and also the stronger dollar, a lot of these countries have borrowed in dollars a finding it harder to repay. and our estimate is that about 60 percent of low income countries are in distress or at high risk. and that means default. and that can be a very big shock. and about 25 percent of emerging market economies are also at very high risk. so we could see a wave of default restructuring is a risk that the international community needs to prepare for. and how can the

international community prepare for something like that, something big like that. so one thing is to be clear, we need to bring down these that level and we just reduce the chapter in our report that looked at different techniques for bringing down debt. and one is was raising taxes, cutting spending, austerity. this is not alone. going to be enough in many cases, they also need to consider renegotiating that at restructuring. and so there is a framework for this that requires coordination of all the different countries that went to them, the g 20 common framework. and here at the spring meetings is also going to be discussions by the, the leaders around a round table so that they can coordinate and reduce the face value, reduce the term, those loans to, to ease the burden. there is no way not to talk about china. so how significant is china wrote in the global economic outlook right now in terms of steering growth,

providing more than well, a china is in terms of economic weight is a very big, it's going to be about one 3rd of total global growth in 2023 will come from china, and this is a big improvement on 2022. when trying to had one of the lowest rates, the lowest rates, and 976. it was in the past year. now they've reopen their economy. they are growing with the 5.2 percent. this is going to have ripple effects on the region. more chinese tourists, more a demand for services. also. the question about china is rolled beyond this is in debt restructuring. a lot of countries have got loans, china, and really china being at the table in a big way. it is important to, to resolve the problem of understandable batch for a lot of country. very different approaches towards china. for example, see the united states and europe and also within europe, there's frans,

and there is no funder line. what you make of the edge. what you're referring to is the presence of you can make fragmentation. countries being split into 2 camps, the u. s. blog, the china blog and artist is that overall this is not going to be a positive for global prosperity because it's less efficient. we've got a chapter just now on foreign direct investment is becoming increasingly amongst people in one of the 2 blogs and the 2 percent of g. d. p is the last for the world on average, this defense across countries. there are some countries in the middle that may actually benefit, think of countries like vietnam where they'll be more investment there instead of in china for example. but overall, since the world economy shrinking, even the people in the middle, the countries they're not going to be net when is and it creates a lot of uncertainty and it makes it harder to deal with things like climate change or, or the debt restructuring. where we need come in solution

a washington bureau chief in us pulled, they are conducting that interview with daniel lee had a via enough research. let's go down to some of the other global business stores, making headlines, wind and solar power accounted for a record 12 percent of global electricity generation last year. that's according to a report by the ember. think tank report also showed the power sector. carbon emissions may have peaked, although they have yet to begin falling. shorter c e o. ellen must says the company is roughly breaking, even as most advertisers have returns and aggressive cost cutting efforts, kick in twitter now has $1500.00 employees. shark drop from the 8000 staff members before must bought the company. last year with china is leading the growth of export restrictions on critical ra minerals. that's according to a new report by the o we c d. or then 13000 new restrictions were implemented by the end of 2020 to 5 fold increase in more than a decade. a beijing is heavily regulating raw materials that are needed for

electric cars and renewable energy coating, lithium cobalt and mangan. let's go over now. did so dong han in, ty paid so what's behind chinese export restrictions on these minerals was the rent is definitely the competition between china and the western powers. these critical minerals or strategic key minerals are vital to ignore, make development and indispensable to strategic emergent industries. china, the u. s. and e, you have a high degree of overlap in the types of strategic critical minerals they need. there are high risks of supply on shortages and in the key mineral strategies of the u. s. europe, china is regarded as the men opponent and an important factor influence in their strategic directions and measures. so they are trying to build a supply chain independent of china. that is why china also needs to develop a relevant strategy and make a response or, and of course, we know that many of these minerals don't just sit in china, this shit,

they sit in other asian countries like indonesia of does that mean that the chinese chinese mining industry is gonna be one of the big winners of this, of this race that you just mentioned. yes. what china is certainly one step ahead in terms of a national strategy to build trade and investment relationships. it is interesting out that if you look at indonesia, at the end of that last month, ford motor site, a $4500000000.00 nicole smelter deal with vel indonesia and china. so down why you'll accompany working on the hole in death, astro, chance of critical minerals, indonesia, in that we know indonesia is the top nichol producing company. yes. but unlike china, it doesn't have companies that have mining investment projects around the world. these chinese companies, they don't normally prioritize environmental protection or human rights issues, but extent they're influenced by war. came through local actors and institutions or so the u. s. and china are racing for the same minerals,

and yet they also need each other to build these electric orders. was all this mean for this race to build these automobiles? oh, some critics say that batteries and minerals used to produce them will soon be the news that my conductors. china has invested 20 years in becoming a world leader in the electric vehicle industry fighting waste of mass, produce high quality our batteries at low cost. natalie's china far ahead in battery production, but even for a co belt and nickel batteries, most of the refining capacity is in china than is it will take a long time for other countries to match china's scale and efficiency in the foreseeable future. western car manufacturers who want to transform to electric vehicles can hardly get rid of that dependence on china. right? so it's on hand in type, hey, thank you very much for the russian invasion of ukraine and the western sanctions that followed have transformed the supply chains and business models of firms

across europe. on the former east, germany ties to russia have been close since the soviet era companies there. i've been working hard to replace business ties built up over decades. massive spools of wire, forge from l. a. minium copper and iron, thick as a finger, or thin as a hair. the machines at the keys of stone wire. factoring cabinets, a precise 2 fractions of a millimeter. the technology has made the company a global leader selling to customers around the world. when we visited over a year ago, they were working on a massive order out of russia. that deal fell apart. and c, o janski's or stein sat on 810-0000 euro loss. he had to move quickly, seeing that the russia business wouldn't recover at any time soon. he looked for new markets and found brazil. initial contact has been made, but it took a lot of effort. can see of 9 more when you're entering

a new market. there are certain requirements you need to check if not least of which is language. that's important to the currently we don't have any one in house with spoofs, portuguese. and we need someone over there to a partner mine it takes a while to get these kind of contacts to bonham. the local chamber of commerce says that most companies in the region have managed the loss of russian orders pretty well. c, e o, chris of no back says they were able to compensate with new business. one important factor, the rebuilding of ukraine will likely bring opportunities, but no one knows when the war might be over. turn yes to seal credit unions. often it was and ukraine is already interesting as the west fence large sums of money to help and rebuild size. and some of it will go into the construction sector for rebuilds, damage infrastructure, or improve on what might be left us person. but there will be also lots of money spent in the health sector and other areas of daily life where large amounts will

be invested hippie invested to $1.00 shot for keys or stein ukraine is an interesting market to they know rebuilding will have to happen and it will require massive amounts of cables and wires for us because it's the script than in book versus will need to see that there's piece but then we'll see opportunity in easton . ukraine was that's where the resources are washed off and where the industry is located. they're using our product, but that's where the fighting us right now and kept the tire. as long as they're fighting keys or stein won't send any of their workers into the war zone. they'd rather focus on south america. first, orders have arrived thanks to their hard work and a good portion of luck as well. what's it for me and the dw business team? as always, you can find out more about these and other stories online. w dot com slash business. also on youtube or the d. w. news channel. i see there's a delay with

a in a globalized world, where everything is connected, all it takes is a score to set things in motion. local hero show out there, ideas can change the world. global 3000. next on d, w o, renewable energies and electron ability dependent on the battery industry and maybe produce sustainably. absolutely says you're at

what about our own raw material, mine, and what are the alternative for electricity storage? made in germany. in 60 minutes on d. w. a thought they were great, a welcome to label 3000 coming up of beat road trip music studio on wheels in the west bank.