what's right and wear a headscarf no. 2. women are striving to reform very small. traditional prejudices. september 24th t w. on the verge of a debt default zombie at becomes the 1st african country to african vast areas for relief on interest payments the move has fueled fears of a looming debt crisis on the continent. also coming up ted left feel you long enough to want to make electric mobility more affordable we'll tell you how he's planning to do with us. on the great few s. wine growers fear for their livelihoods obst wildfires ruined their harvest. this is d.w. business on cape ferguson welcome to the show. could sound be a become the 1st african nation to default on its debts as a result of the pandemic the copper rich country has offered investment to accept to lay it in interest payments on $3000000000.00 worth of international bonds citing declining revenues and costs related to covert $19.00 the move has many wondering whether this will be the 1st of a wave of covert $960.00 fulton africa both angola and kenya are also struggling with high debt burdens. let's talk about this with charles robertson he's chief economist at rene sounds capital investment bank and joins us now from london hi charles welcome along is this the beginning of a mafia african debt default. what we've got we've got 2 countries that have been going to the sites of debts investors in terms of anxiety one has been zambia one's been i'm gona but i think zambia is had a special story they were making a lot of money from costa in the 2000 when the china boom took off they voted out a president who was saving that money and they voted in a president and his current successor has followed the same policies as the as the next president who wanted to spend the money and not just spend the money from copa but then borrow an awful lot more as well so that debt was done to around a 100 percent of g.d.p. and go it is even higher and these are the 2 countries that have been of major concern to invest as some because to follow one surprise anyone. now is this all day into the pandemic or do you think there are other factors at play here. actually that the pandemics had very little role to play on this as you mentioned zambia's major export is well a couple prices is around the highest level has been for the last 5 years the currency is pretty competitive and the virus has killed. a tragic $330.00 people or so in zambia but this is a a very small proportion of what the country normally loses in the year it's not being hit hard because it's such a youthful population same goes for angola so i'm going as problems being the oil price collapse zambia's problem has been too much spending really by the government for too many years and let's talk about solutions than has there been any talk about debt forgiveness. that has this you know when the when the crisis hit i was among those suggesting that the world bank the i.m.f. should be doing an awful lot more to help countries which have the least resources to fight the virus and the world bank has as come through with debt moratoria so countries like zambia and many others some in 8070 countries have been offered the chance to to not pay interest on the debt owed to the on that from the world bank and that is helping them and for many countries i think that's very that is very helpful for zambia's case i'm not sure that it's not just about trying to get the president reelected in 2021 and then he wants as much money as he can to try and win that election so it's a slightly more complicated situation in zambia than some other countries that i think do deserve the support that the world bank so for a lot of factories up their child robertson thank you so much for speaking with us thank you. the international labor organization says job losses on reduced hours have led to a more than a 10 percent drop in global income in the 1st 3 quarters of this year the 5th of 3 and a half trillion dollars while the pandemic has affected nearly every one of our next report shows its workers in the informal sector that have been especially hard hit . more and more families have been arriving and sell palos new favelas bringing everything they own gilmer going salvias chavez is building a temporary shanty for his family prior to the coronavirus pandemic he worked as a daily prayer and construction. the downward spiral began when he stopped receiving job offers. your brother our landlord wouldn't let us pay the rent later and because we couldn't pay on time he kicked us out then we found out that a lot of people who were going through the same thing were building shanties here so now we're moving in. the international labor organization estimates that in the 2nd quarter of 202017.3 percent of working hours were lost worldwide due to the coronavirus measures including the closure of construction sites factories and offices in terms of employment that means a total of 495000000 jobs have been lost. government measures including stimulus packages and short time work allowance have somewhat mitigated the financial consequences but the ilo says it's mainly developed countries that can afford this emerging economies have limited possibilities the results are poverty and desperation earlier we spoke to guy wider the director general of the international labor organization we asked which regions of the world have been worst affected by wage losses. well the numbers show very very clearly that it is the americas and particularly south and central america which is suffering the worst both in terms of job destruction and loss of income which you highlighted so very well in your introduction and this again is linked very closely to the fact that the pandemic has taken hold so firmly in that region the 2 things go together whilst the high income countries have thrown enormous amounts of resources quite rightly i would say at mitigating the social economic crisis low and middle lower middle income countries simply cannot do that and that's why we see the types of chromatic situations informal sector workers who have no choice but to go to work in dangerous circumstances so i think we do need to look at ways of getting more support to the developing world that could be through the international financial institutions it could be through debt relief equal be through development assistance but we have to do it in not only as an act of solidarity but as an act of self interest because anybody in any country who thinks that they can to be saved from this and then make whilst it is raging on in other parts of the world i think is making a big mistake. now to some of the other global business stories making news. the international air transportation association wants governments to speed up the development of rocket virus tests to lobby groups developing instant tests which can be administered in airports is key to protecting passenger safety and to restarting the stalled airline industry. german chemical giant b.s.f. is planning to cut 2000 jobs and its newly created business services eunice the company is sitting on a nearly 900000000 euro notes for this year due to falling orders from the automotive industry. tesla is racing ahead with the construction of a huge new factory just outside of berlin production there could start as early as 2021 with some $505.00 and electric cars rolling off the line every year but it's not just capacity tells us because after he is also planning to build more affordable cars powered by new battery technology. battery day it's tesla shareholders and coworkers so watching from inside their e-commerce social distancing tesla style on stage c.e.o. elon musk who had set expectations high by announcing insane news then announced that the company's working on cheaper batteries also driving down car prices. but it really is always our goal to try to make affordable electric car and i think probably like that about about 3 years from now we're confident we can make a very. very compelling $25000.00 electric vehicle that's also fully autonomous. so far the cheapest tesla costs around $45000.00 euros too much facing an ever stronger competition in germany folks lock in this heavily invested in evil ability offering their eagle fi the 3 under $40000.00 euros putting pressure on musk and tesla as wildfires continue to burn across the western coast of the united states many wine producers in the region are seeing their harvests ruined in many cases their grapes have absorbed too much smoke to be salvaged heaving them with an unpleasant charge to taste with a typical wildfire season only just beginning the true impact on the country's $17000000000.00 wine industry won't be known for months. hansen binion's in oregon normally the picturesque source of some of the best wines in the u.s. but the constant pall of smoke is threatening least year's harvest. this is probably on with. i'm going to try making some way. i'm skeptical at this point that it's going to get to bottom. the just the density of the smoke that we've had these past 2 weeks has been astonishing. the smoke doesn't just deposit particles on the grapes it seeps into them as well it can't simply be washed off your resulting wines can taste and smell overly ashy or smoky and obviously that's a character most people want to know one. definitely not which leaves vintner jason hansen despondent 90 some percent of all. american wine. gosh that's crazy. but it's probably even crazier that this is on top of pandemic can you know our tasting rooms were closed for a few months this year that didn't help. so. you know who knows a lot of growers here sell the grapes to one producers but they can't be sure they should even risk processing the grapes at all it could leave them sitting on a year's worth of bad wine so even good grapes might not find buyers i think these wildfires are likely are going to be without question the those single worst disaster the wine grape growing community has ever faced joe it's going to be a real struggle for many people to make it through this year 3 years hard work going to waste for many here i could task for a fee it could see several growers and producers go out of business. to remind her of the top story this hour a tesla is one step closer to getting its new berlin trying to prove the electric car maker is also pledging to make its vehicles more affordable. and not fit for me to try website www dot com you can find us on facebook on twitter too from mean the team is good but i think at. the big. league. the boy. the body. climate change. happiness good grief books. smarter birth free books. the only. the love is from. the best mom. the be. the love and respect the books. you're watching news asia coming up on the program tensions between china and taiwan continue to grow this turn into a flashpoint in the greater strategic rivalry between china and the united states. plus an update on the 12 hong kong activists who tried to escape by boat china now holds them under detention we take a closer look at family members who want their loved ones back.

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