the 0.75% increase is an attempt by the federal reserve to combat surging inflation. rising prices are continuing to hit president biden s poll ratings. now on bbc news: talking business with aaron heslehurst. hello. let us take a look at what is on the show. the global economy is facing multiple crises, from supply chain chaos, war in europe, and potentialfamine. can this so called poly crisis be taken on by the wto, the world trade organization, as global trade ministers meet face to face for the first time since the pandemic and the war in ukraine? i am going to be discussing all of this with these two. there they are. the boss of the world trade organization, as well as a former wto judge from china. and what does this mean for a business where trade is everything? i will be speaking with the boss of one of the biggest shipping and freight companies to find out how they are navigating through these choppy waters. whrnever you arejoining me from around the world, hello, we
iam going i am going to be discussing all of this with these two. there they are. the boss of the world trade organization, as well as a former wto judge from china. and what does this mean for a business where trade is everything? i will be speaking with the boss of one of the biggest shipping and freight companies to find out how they are navigating through these choppy waters. whenever you arejoining me from around the world, hello, welcome to the show. we are in a poly crisis. that is according to ngozi okonjo iweala, director general of world trade organization, because the wto is holding its most important meeting in more than four years. this week, trade ministers from more than 150 countries will gather in geneva in switzerland. the meeting has twice been postponed covid outbreaks. but now, as well as a world facing a pandemic and this aftermath, there is a war on european soil. globalfood shortages. and the global cost of living crisis. and of course, the continuing
fuel prices and the average cost of driving around has increased massively in the last 12 years. to have that not even be reviewed, do not have any more that we can give tax free, is making it exceptionally hard to even be able to support the star. ., ., , hard to even be able to support the star. ., ., . ,., star. you are saying the government can do more- star. you are saying the government can do more. they star. you are saying the government can do more. they could star. you are saying the government can do more. they could also - star. you are saying the government can do more. they could also cut - can do more. they could also cut some of the fuel duty, which they take from fuel at the pumps. yes. they could take from fuel at the pumps. yes. they could do take from fuel at the pumps. yes. they could do so take from fuel at the pumps. yes. they could do so much take from fuel at the pumps. yes. they could do so much more, - take from fuel at the pumps. 133
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issue as well. we have to work diligently to find other crew members during this temporary situation, or maybe longer, as we can see, as things are developing at the moment. and make sure we have the cruise on board to keep the ships, the supply chain, are moving. when will rates normalise? we factor in design planning around the average container taking 50 days round trip. if it is taking 100 days we will run short of containers. and the ports, we are normally used to ships arriving on schedule on monday and immediately being served, 24 hours alongside, then departing. if we have to wait one or two weeks, that creates a huge problem, and the supply chain push back. we are seeing the port situation starting to improve. but we still have bottlenecks, like in north america and north europe. and some parts of asia as well. i would expect that as the supply chain starts to improve due to the health and covid issues, as the landside force comes back more effectively,