the closure of the copper mines is operation. the country's government just recently extended for a minimum of 20 years. i'm 1st cobra. welcome to the program. while inflation is easing around, the world growth is slowly alongside it. according to the latest outlook of the organization for economic cooperation and development, o u. c, d, and europe, lags behind all the major markets in 2024. the your area economy is expected to go 0.9 percent compared to one and a half percent for the us and 2.5 percent for mexico. the always to do says the pace of growth is uneven and emerging markets are generally faring better. then advanced economies overall, though the always it is predicting what the organization calls a soft landing, although risks like the wars and ukraine at the middle east as well as protectionism remain. another issue troubling the city is persisting inflation. here's the groups chief economist, clair, lombard valley. we're seeing

a welcome phone, inflation, but the fight is not over yet. we have seen more goods where inflation has been high for at least the many countries we see this persistence across the last basic foods like should got milk and eggs. this is part of the reason we remain worried about inflation if inflation was to prove assistance. so the timing would be necessary pushing growth down further for more or less spring. and you all came i chief economist at commerce bank. you are welcome back to the program. do you agree with the always the experts that inflationary pressure will continue to be weighing on 12 o'clock? i think so, i guess. uh, because uh we have seen in the past to very high inflation rates. and the re disposable income offer employees has come down. there for trade, stevens around the world tried to make up for the previous loss in the purchase impala and this means high wage settlements. and this, of course,

means that the inflation is likely not to his debbie lies at around 2 percent. what the central banks one but significantly higher. but we see for example, or in germany that inflation from november has come down again to now 3.2 percent. does that mean that germany has turn the corner when i put it this way of positive face over the past 12 months has come down significantly in germany, in the most other countries. but this is a kind of even because this is only cost or mainly cost by, by base effects because especially energy prices, they cannot continue to rise as fast as immediately after the russian at tech, when you create and therefore this is only a base effect at the end, the last mine of the fight is out of the fight against inflation. of the last my is more important and they have the issues,

primarily because of high wage settlements. now in court ruling, jeremy has essentially blown a 60000000000 euro hole in the countries budget. yet the country is expected to return to growth next year. do you think that's likely? or no, no, i don't think this is likely even before the bunch of cries in germany, i've was one of the few economies before cost the decline by all points the percent in next year. so i'm going to the p and currently under the impact of high interest rates and under the impact off the drum and budget crisis. private sector you called them is the start to, to reduce that growth for cost, and they move in all directions. and against this backdrop at forecasters expect, rose in europe and the arizona for that matter to remain relatively subdued compared to the united states or north america. as a whole, for example, why are the economies going into different directions here?

where as it has this has a lot of to do with a very expansionary fiscal policy. in the united states. we ever had strong growth in the queue with the 3rd quarter of ass and the us on. we had to stick nation by going forward. they'll also structural issues which suggest that grossly became to use on and this is about the long term also for energy energy. the next couple of years, very meant to do nighted safe and much cheaper than here. and this, you can see this already in germany. this is net to an exit us off energy intensive manufacturing firms, such as the chemical industry. yeah, came up to commerce, bank chief economist york as always, thank you for your thoughts. thank you. in and out to some of the other global business stories, making news, half of german companies are struggling to fill vacancies, student labor shortages, according to germany's chamber of commerce and industry. that is, despite the stagnation of the year zones largest economy. germany,

much like other industrialized countries faces labor shortages, especially in height skilled sectors now has approved a global minimum tax on multi nationals the south eastern asian economy. currently offers preferential rates to large from investors. the move will now force more than a 100 phone companies, including electronics, trying samsung to pay a higher rate of at least 50 percent. the european union and united states and its allies have initiated a raft of sanctions against russia in response to the cremeans full invasion of ukraine. now, although western officials insist that the measures are biding, russia has been able to keep its economy running thanks to sales of oil and gas and because it increased trade with this allies like china, a reporter visited a hot spot of sign, a russian business cards specializes in trade between russia

and china and his business is booming. auto parts in particular, are in high demand. at his warehouse, he counts the tires, a russian customer has ordered. no demand is up. if there's recent trend continues to my company's revenue could actually double, you know, fold out queen lives and works in china's most northern region. near the border with russia. takes us there to a place that hasn't changed dramatically since russia invaded ukraine last year. this used to be empty, but today goods are lined up for export of the so me and see the article on money order is the most important chinese russian border crossing voltage on it. so just now they're bringing over these construction machines to, to the western democracies have long banned the export of such goods to russia,

all the fears they could be used in the kremlin war efforts. a china doesn't support the sanctions force or the last of the nonsense china is rushed us, big brother, we will export anything. it's what we do here in this region quite or whatever. other countries band with sanctions. we are exporting it sometimes with our for our film crew is unwelcome, so we move on right next to the border crossing. we see giant warehouses built by wholesalers. this kind of construction is assigned people here. are expecting a long war with long term benefits. chinese police follow us as we drive to the border towns train station on the other side, imports from russia, mostly called while trade is up here. fewer and fewer people are actually crossing the border in town, however,

serial explains point to what was once that's 5 in tourism business business is not good. they are hardly any russian customers anymore. maybe it will get better, but currently it's not good luck at the warehouse. young guy speaks with his customers influence russian point, cuz checking whether he can export rifle scopes, parties by if one joys my blood shop got literally this, i'm not who, who is this is how it works with the customer requests something and we checked with customs if they say yes, we can export it difficult if they say no, we can't drones and protective vests or bands, no chance of without changing. businesses booming as russia and china and strengthened their bond. our trip to the board shows that rather on

a line that survey a proxy go purposes i do find you might, to panama. and the president of the central american country has declared that the canadian minor 1st quantum lucrative compromised, coveted on a month, would be shut down all the hours after the country. supreme court declared its contract on constitutional. the moves follow growing public protest over the governments, long term extension of operations at the mine and their environmental impact as they are singing and dancing in the streets. thousands of them panamanians on tuesday, gathered into countries capital to celebrate the legal victory. many c as crucial to the very survival that after panama supreme court declared a 20 year plus the contract for the corporate upon them, a compromise unconstitutional. and president that went to newport, the so called for an immediate closing of the site. the black ink and staples united as soon as we receive the former communication of the ruling from the

supreme court of justice. it will be immediately published in the official gives that to the customer and we will start the transition period to shut down the mine in an orderly and safe fashion. i don't see it on the order then. oh, you said, what do i mean? the open pit mine owned by canada's 1st quantum minerals is located in a bio diverse jungle near the atlantic coast. it has employed thousands and accounts for 3 per cent of panama as gross domestic product. just recently, the canadian owner had agreed to pay the state at least $375000000.00 annually. not enough for environmental is to look past the damage. the copeland kind of my mind would have done to the forest at coastal area and to local water supplies for the today, we know that we continue to maintain and protect our natural resources. it

is very important for us indigenous peoples in nor resources. we're nobody because we know that we depend on it. mother nature, right on the things i'll be more than 30 days in the streets, struggling, protesting, and marching against the abusive mining contract. we are really happy of citizens that the supreme court of justice found the contract unconstitutional. the cannabis 1st quantum mineral says it accepts the ruling. meanwhile, and panama just celebrating a story gwen and that is our show. thanks for watching. have a successful the

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with dw loves or emphasizing the award winning offer is available world wide. every language level reading gentleman has told me to go one step for a robot back to one giant leap for exploiting the ocean floor. cutting edge technology is i'm looking the potential of deep sea mining. but this time, a research team will study the possible risk sucks in order to minimize that, we have an opportunity to get it right before we can stuff. environmental activists, all skeptical rules fail billions to be made it out to the entries. deep sea greed dots, december 7th, on d, w. the

. this is dw news live from valid katara media. it is pushed for an extension of the cx. 5 between east route until moss. and the latest exchange from us will is 12 hostages. on tuesday, the 5th day of the truce, israel fried cheap for the indian prisoners and some palestinians are using the c spot to relocate to the southern part of gaza. but israel says when the truth is over, military operations against come us. that could result also in the program they chose for.