Can be done. Make up your own body. Double. The biggest risk for Global Business is unemployment thats the result of the latest report on regional risks for doing business i seen by the World Economic forum well talk to the borders managing director to find out more also coming up indonesian workers take to the streets to protest a contentious bill they say will favor investors at the expense of labor rights and the environment. And the new york is struggling to get back on its feet of in. The ongoing can damage but as well find out if people there are determined to keep the citys spirit going. What come to do to your business i want to johnson berlin good to have you with us the World Economic forum has just published its annual report on regional risks for doing business and not surprisingly the coronavirus pandemic has left its mark based on a survey of over 12000 Business Leaders from 127 countries the reporters unemployment top of the list just like previous reports like the one from the International Labor organization massive job losses due to the pandemic are expected to negatively Impact Business for the next 10 years now fiscal issues until recently the main risk cracked just dropped into 3rd position followed by Cyber Attacks and social instability the report is part of the Global Risk Initiative which aims to find Sustainable Solutions for Global Environmental challenges and that of course also includes the impact of a pandemic and for more im joined now by the managing director of the World Economic forum. In geneva and there she is good to have you with us. And tell me i mean given that the coronavirus pandemic led to various lockdown is the outcome of this report the result of it does that come as a surprise to you. You know its not really a surprise in the sense that the spread of Infectious Diseases rates number 2 globally. The highest rated across east asia eurasia europe so not surprising in the sense that the pandemic has had that impact but what we are starting to see is as Business Leaders look out to the next year or so theyre starting to think about what are the knock on effects that will create for the risks and clearly unemployment and job losses is one very large risk that comes to the surface Cyber Attacks are another large there that comes to the surface and not surprising because theyre very much the result of the Digital Economy even now live in the case of Cyber Attacks and in the case of unemployment all of the displacement that has taken place due to lock downs which is then further compounded by automation of work but report even says that when you mention the knock on effects of the pandemic especially for the jobs market and those Business Leaders expect this is not going to affect to last for at least 10 years where is that figure coming from thats a thats a long time. And i think this is where theyre starting to factor in other aspects beyond the lockdowns themselves i think were starting to see now a sense of this recession may take longer to get out of or there might be that shaped recovery that many are talking about where for some parts of the workforce and some parts of the economy it will be possible to have a relatively fast recovery and then for a very large part it may not be possible and again not surprisingly the top 5 the 5th risk globally is profound social instability and i think thats what theyre starting to factor into their assessment of this case shaped recovery quite clearly leading to 2 more inequality is something that weve been struggling with even before the pandemic the report provides a special look at legion will risk factor how do they differ if theres any difference at all so certainly Infectious Diseases across your asia europe across most of east asia and the pacific but then unemployment underemployment are the biggest concerns in south asia in Subsaharan Africa and i think this is not surprising that in the emerging parts of the world where there has been less fiscal stimulus less room from governments to be able to provide support to protect jobs to provide workers get support when theyre out of a source of income in those parts of the world unemployment and underemployment is in even bigger concern than it is in most advanced economies in quite a few of those regions that you just mentioned of course Climate Change the impact of Climate Change is also something to think about and interesting in the enough the worry about Climate Change has somewhat dropped in that latest reports of yours does that worry you. So i think its interesting we this is this is really looking at what are the news of Business Leaders as the top risks to getting Business Done and youre starting to see that Climate Change is within the top 20 but towards the towards the bottom of the top 20 yet very specific risks are actually rising in their assessment so businesses are starting to get deeply concerned about specific aspects of the climate rest when theyre looking at their ability to be able to do business so biodiversity loss and a system collapse thats ranks natural catastrophes up 7 ranks extreme weather events up 5 ranks so i think theyre really starting to build that into their own assessment or their ability to get things done right well theres a beam of hope than there. Thank you so much for your time. There from the World Economic forum thank you thank you turning to indonesia now where demonstrations against a controversial new no on labor turned violent as protesters clashed with the police on monday lawmakers rushed to the changes through parliament provoking outcry critics fear the new law which will cut Corporate Tax rates and red tape will favor investors at the expense of work. On live labor they cry indonesia is in the grip of protest for days angry workers have been guiding their tos and chalking up streets across the country this mans pluck card says hes missing his wedding to be there. Theyre furious about a new law that they say strips away their rights and puts the environment at risk. We will continue making demands because it determines our lives if needed we will go to the city hall again to morrow the. President your call we do it all says the sweeping reforms are necessary to create jobs lure investment and revive the economy after a rough year. But the measure sparked a 3 day strike that saw revolting factory workers march in defiance. There were ugly scenes to as Police Clashed with demonstrators. And in the capital jakarta officers used tear gas to disperse crowds a police van was ransacked in the violence. More than 20 arrests were made and in one case an officer assaulted a man being detained. While at. The police van was traveling to pick up the protesters whom we had opera handed when it was making a u. Turn on this street other protesters suddenly attacked the car there were hundreds of them they ransacked and flipped the car the police warned them to stop the action but they ignored us. And this may just be the beginning the controversial bill has not yet been published in fool. To new york where many Small Businesses there are fighting for survival have already given up heres a look now at how the coronavirus pandemic hurt the city that never sleeps. 5th avenue a symbol of new yorks prosperity looks abound and big retail chains are considering giving up its just not worth it restaurants and small stores are struggling to survive there are more and more Homeless People on the streets. And the job is no longer worthwhile for yellow cabs either only about a quarter of the taxis are still on the streets cappy victor is behind the wheel for the 1st time in 5 months even thought about quitting his yellow cab entirely. Many of us and i work and right now most of us are not working and i missed so much coming back to. The usually i know for a 5 day walking like to say like 1416 hours of the day to make ends meet. Jennys toy store was closed for 2 and a half months sales have been drastically down since she reopened just 5 percent of what they were before that way too little to cover her horrendous rent like all new yorkers jenny has very care political opinions shes a big fan of Vice President ial candidate kaamelott harris and she blames mismanagement of the coronavirus epidemic by trump for the economic crisis but one of trump is reelected i dont know. If its a scary really really scary thought to say so well have a revolution i think. I hope but i hope. Some of the Office Towers downtown have only 10 percent occupancy more and more companies are cutting back on office space right now there are 26 percent more vacancies in the Residential Market than last year prices for bigger apartments especially are down 10 to 15 percent. Even in prime locations like central park realtor kathy is doing great business she thinks its a strong market for investors. At 3000000. 00 this apartment is a real bargain. And says. If you believe in the long term value of new york city yes it may be you know a rough couple of years but if youre going to hold it for 510 years youre going to do very well. So business is good for the rich though it means disaster for people who already were having a hard time before the pandemic but new york wouldnt be new york if it could be beaten bad easily and i think this virus is not going to stop who you are of course a new york city we live its glory again. You know. We dont give up. We dont you know come with those when youre tough. Despite everything the spirit of new york the metropolis the coronavirus really went to town on seems unbroken. And heres a reminder of the top story this. In its latest report on regional risks for doing business the World Economic forum blends of high unemployment and on the negative effects on the from the bottom to make but also Cyber Security and Climate Change on going straight to the global economy. And thats all of from me and the Business Team here in berlin if you want more from us the new check out our website its t w dot com business also on facebook and on twitter. Of on the back again from me in the team in berlin thanks for giving us company. To theres no moscow for energy. Theres another bit of. Good. On food. Good speed. Is really. Good energy is good future. And good. Maybe injured. D. W. Are not proud and they will not succeed in dividing the south not succeed in taking the people off the streets because were tired of this dictatorship. Taking the stand global news that matters. Made for mines. You thought the coronavirus was big or Climate Change is an even bigger challenge facing the planet but the Current Health crisis has been a boon for green energy dramatically lower Global Demand for electricity during lockdown has allowed bridge new polls to flourish they also make more business sense theyre increasingly cheaper than fossil fuels like cold