Africa and the world your link to exceptional stories and discussions from the news as easy and what waits a dead beat it comes from the join us on facebook. For. Me. At the. Ones that were a beacon of hope now concerns of a crisis is rapidly emerging markets currencies plummets traders need nerves of steel but also spare a thought for consumers as prices climb. And a victim off by a very crisis in argentina the construction sector that pretty passed the shed thousands of jobs as government cuts come into force. This is the business welcome wherever you look right now it seems emerging markets are melt down with their currencies losing value dramatically the turkish lira the object on south africas randon indonesias rupee to name just a handful after tumbled recently currency traders need to have strong but its far worse for the People Living in those countries. A supermarket in the turkish city of dia but here things used to be a lot busier here but rising prices are hitting sales does the u. S. Were forced to increase the prices of the new products we buy we raise the prices in accordance with the profit margin of course our people no longer have as much purchasing power as they used to be able to fill a shopping cart for two hundred lire but now it costs them three hundred to three hundred twenty five which the. Prices are climbing because the turkish lira has lost so much value against the dollar in the first half of this year it plummeted by a stunning seventy two percent. South africas economy is also stuttering that countrys currency the rand has lost a full thirty percent against the dollar south africa is now considered as being in recession following two quarters of falling g. D. P. India is also not fairing too well right now the rupee has lost ten percent against the dollar since march this year but argentinas been the worst hit so far austerity measures have unleashed wave upon wave of antigovernment demonstrations the unions take to the streets of corners ariz on an almost daily basis argentinas peyser has lost eighty six percent in value against the dollar over the last six months. Immediate casualty of that very crisis is argentinas construction sector it is said to cut some forty thousand jobs in the coming months as high Interest Rates financing and the governments scales back Infrastructure Projects to the massive budget deficit the government has announced a raft of a sterile measures this week as it seeks to slash the deficit and restore confidence in the past so which has lost more than half of its value as weve seen so far but those measures wont come quick enough for those working in construction. Its large public Infrastructure Projects like this railway line in that will take the biggest hit Argentinas Central Bank is holding Interest Rates at a punishing sixty percent to try to curb high inflation and halt the pesos slide thats making it difficult for local contractors to secure financing for projects or to buy imported materials and that means that after several years of growth in the sector jobs will have to go. After month a sector was taking on people creating jobs through twenty seventeen and into the first months of this year then in the crisis in may things changed thats when employment started to change it was negative and now every month jobs are being lost between may and june about five thousand six thousand people a month lost work. Its estimated that forty thousand construction jobs will get the axe to allow for Government Spending cuts as cyrus tries to balance its primary budget that will have a knock on effect on other sectors president mauricio mockery is pushing the tough new measures as he seeks to convince the International Monetary fund to speed up the payment of loans under a fifty billion dollars Financing Deal reached in june but a sharp slowdown in construction would deal a heavy blow to an economy already tumbling into recession it will also be a hurdle to mockeries bid for reelection next year. And. Correspondent from frankfurt what do all these cancers have in common. There are all currencies of emerging Market Countries and they all have more or less the same investors looking at opportunities in those emerging Market Countries of course theyre locally more investors from the country itself but if you have International Investors and those are the ones that are withdrawing. They see problems and one emerging country and they say perhaps its in the other country as well perhaps i have less losses there so far sold for a lot of their first and its more or less a strategic kind of Money Management problem at the moment and the bad thing is if it continues and this sort of trend can continue contagion as one might call it and then become more of a problem well you mentioned contagion whos next on the list and why. Its hard to say pretty well all the emerging Market Countries the major ones are in focus now whether its india or indonesia but of course turkey in argentina are in the main focus experts warn that the asian emerging Market Countries really dont have that much of a problem if a problem at all if you look at indonesias fundamentals they have very solid trade bases but theyre basically in the mix as well and they have lots better trade relations with the e. U. With china and the united states. Really what could be a remedy briefly if you can. Well one emerging market country with a big problem has to find a convincing solution and has to convince the market one could be turkey the Turkish Central Bank meets next week and markets are really really desperate to see a move there in order to remedy the situation that could be a drastic Interest Rate hike perhaps other measures like that central bank saying it is independent of the president if thats done if the market is convinced by that it can relieve pressure elsewhere we bought some fine thank you. Were staying in frankfurt in a way dacha bank is about to lose its largest single shareholder according to insiders the chinese complimented hage and a has been pressured by beijing to sell its stake in germanys largest bank in a held seven point six percent of the largest share but shares but has accumulated a lot of debt other than a nor gorge bank were available for comment action has built up stakes in a wide range of western companies such as their lines of hotel chains but. There are actively off offloading some of those investment at the moment. One week after u. S. President Donald Trumps deadline for trade talks with canada to conclude theres still no agreement bob kind of the top diplomat Chrystia Freeland says there is still goodwill on both sides officials from both countries worked through the night on a number of issues the u. S. Wants to it and it was then to subsidies for canadas dairy industry and the right to enter the media and Communications Market canada wants a mechanism to resolve trade disputes that doesnt involve going through the Us Court System the bullshit is only say that progress is being made. False are open its plant in the polish city of poznan in one thousand nine hundred three it cost a billion euros and its been a big success for the german car maker but while the Solidarity Union has largely been cooperative some of the three thousand workers there say theyre not getting their share of the factories success. Every one hundred seven seconds a new v. W. Rolls of the posen on production line v. W. Small than the caddy is one of the models made here twenty five years ago folks fucking began production here with a Small Assembly plant today some nine thousand people work here polish v. W. Workers only earn about a third as much as their german colleagues at the same time however because of living it is much lower in comparison. Shipping i like working at the twenty five years if i didnt like it it might have left long ago. For. Good there are no conflicts here im quite happy. In recent years folks bug has invested enormous amounts in the polls and works. The new production line for its craft to transport it cost a billion euros. Seven and a half thousand of the w. s workers here a Solidarity Union members. The Unions Negotiating Committee prefers council e ation rather than confrontation when it comes to wage talks with management. Because of the negatives in every stop your aim is to gradually raise wages here to match german wage levels. Which is on the other hand weve got to keep an eye on making sure the plant is competitive and were looking for a solution thats acceptable for both sides to keep anybody spoke at some workers here arent at all happy about that they set up their own works group and claim to have five hundred members signed up they publish a newspaper to keep people informed about their activities the group wants to see wages rise faster along with bonus payments for weekend shift work. For their mortgages and the company has a lot of advantages of race production targets and turn out more and more vehicles in every shift which is not. Quality and sell worldwide so demanding more pay is quite reasonable. Wage hikes are a constant topic and. That some entirely different challenges are also looming production line automation is inevitable and the mobility is also about to expand rapidly. Management here is counting on polish engineers to handle the changes none has plenty of universities. And a lot about Technical Development engineers are in germany now one company specializing in courses theyll be back in one to two years then grossi it will continue. Production shift is about to be introduced imposing more than one hundred sixty thousand caddies alone will soon be rolling off the production line here every year. From washington to business. I am. Still interested. In young people from around the world living their dreams. Common in. Poland. Its a way of life in harmony with nature. And. The moment. They make a commitment. They find solutions. They conspire. Africa on the moon. Stories of both people in a different shaping their nation. And their continent of africa on the move the stories about motivational change makers taking their destinies into their homes. D. W. Multimillionaire series from africa. D. W. M. Dot com africa. Lehman brothers ten years on a story of ambition creep remaining on. The rich lots. Of Investment Bankers who conflict carousels which never stopped of a system that spun out of control. The ever. The crash the Investment BankLehman Brothers start september thirteenth on t w. I there im max marlin welcome to your daily dose of european lifestyle and culture today we start off with some cracking music is whats coming up. Royalty we commemorate the Fiftieth Anniversary of led zeppelins first stage of his. Many mopeds tiny monkey by