In three months, conflict in Ukraine has destroyed parts of the country, hurt Russia's economy, and sent shockwaves across the globe. Countries are experiencing never-before-seen inflation, and a critical lack of supplies is forecast to worsen. Then there's the matter of who should pay for the colossal damage inflicted on towns and cities in Ukraine. At the World Economic Forum in Davos, world leaders are trying to solve the problem. A former Ukranian Finance Minister Natalie Jaresko, gives her view on the true cost.

Much of the world's focus is on the outcome of that summit, but there's another one happening in Tokyo which could set the course of Asian trade relations for years to come. The Quad countries - Australia, the US, Japan and India - are meeting to discuss matters like China, inflation in the south of the continent, and a new US-led Pacific trading agreement. Tanvi Madan. Director of the Indian Project at the Brookings Institute, takes us through what to expect.

ABC's senior business correspondent Peter Ryan is joined by Alison van Diggelen, Silicon Valley tech host, to talk about all the issues of the day.

Meanwhile, Germany is among the countries trying new solutions to help citizens come to terms with economic crises. We hear from the Eva Kreienkamp, the head of one of the country's biggest transport companies.

Image: Ukrainian President Volodymyr Zelensky is seen on a giant screen next to Founder and executive chairman of the World Economic Forum Klaus Schwab during his address by video conference as part of the World Economic Forum (WEF) annual meeting in Davos on May 23, 2022. (Photo by Fabrice COFFRINI / AFP) (Photo by FABRICE COFFRINI/AFP via Getty Images)