Natasha butler. How do 0 powers the . So again, im fully back to go with the headlines on how to 0. The United States has confirmed the transfer a seized the rainy and weapons to ukraine. Us naval forces save the arms, and munition was captured last year from a ship that was carrying supplies to who is the rebels in yemen . Or in the legislative language. Uh, authorizing uh, the department of defenses, Ukraine Security assistance initiative, which they of course, im sure would be happy to speak to you. More about the secretary of defense is authorized with the concurrence of the secretary of state to make available to the government of ukraine, weapons, and other defense articles from the United States and other sources. And this obviously is one of those other sources to us. Republican 7 bounced the candidacy to become the next speaker of the house of representatives. After Kevin Mccarthy was all set from the position on tuesday, the house of suspended business. While it looks for a replacement, the events prompted us present joe biden, to call for an end to poison. His politics is really forces have confronted promise to me and you see stuff nobliss in the occupied westbank. The policy and spunk rose as soldiers escorted these rays atlas to perform rituals at joseph 2. And 5 people have been arrested by is really police after they were filmed, spitting of christian pilgrims unoccupied, East Jerusalem from mister benjamin. This yeah. Who is condemned . The Incident Form of us present donald trump has appeared in court for the 3rd day of his civil fall try in new york from his 2 sons and the Trump Organization are accused of using full statements in freight, then net worth 5 billions of dollars. He denies any voluntarily, and those are the headlines on algebra one use as always, and i would cite that. Ill just 0, dont. Com, coming up next. Its counting the cost. Stay with this. So critical the banks, instead of trying to externalize the management of this problem in teaching is here to the, to other countries to europe in member state should be trying to take control of this issue themselves. Inside story on al jazeera, the hello, im serial venue. This is counting the cost analysis 0, your weekly look at the world of business and academics. This week, one of china is biggest shadow banks is in trouble. So what are those Financial Firms and what risks do they post to the chinese economy . Also this week the syrian president wants to end his nations isolation, as many blame him for the free following economy. Plus, its called zillow, as demand for uranium continues to increase, the price of this commodity used in Nuclear Power is source, the that includes gigantic Financial Institutions. China is secretive shadow Banking Industry is worth more than 3 trillion dollars for perspective. That is roughly the size of britains economy. But after years of exponential growth, several firms have defaulted on billions of dollars of payments to investors. In recent years, the Chinese Government has clipped down on risky lending to limit the risk of contagion to the wider economy. And now concern is growing again about the Financial Stability of shadow lenders. Its on your own. One of the countrys largest trusts mister payments. The clients in august are pretty big warning sign. And the company then signed an agreement with 2 state owned firms to help solve its problems. That was 2 weeks ago. Sean young managed more than 87000000000. 00 worth of funds for corporate clients and wealthy individuals as of the end of 2022. It says at least 11 percent of its assets are invested in the property sector. So just before we go to our guest and try and figure all this out, let me brief you on what are shadow banks . Exactly. The term was coined in the us a little more than 15 years ago. It refers to Financial Services that are offered outside the formal Banking System. Unlike Traditional Bank shadow lenders, including trust lights on young. Well, there are loosely regulated and that means that they can lend more easily to more people, but their loans arts guaranteed as were finding out and theres less transparency. So its also hard to know how much debt there actually is. Now for decades, the Chinese Government has bailed out many shadow firms when theyve been in trouble, and they were seen as a safe place the wealthy chinese to park their money is a trusts lawyer investors by offering significantly higher returns on their savings than banks do that brings in a lot of cash shadow banks, then lend that cash the Companies Across various sectors of the chinese economy, including the profit, the sector that includes Real Estate Developers, but china is real, estate market is now in crisis, so the borrowers are struggling to repay the money that they borrowed. All right, redman one joins me from hong kong. Sir, youre the Greater ChinaMarket Strategist, that sax. So we have now reached the point where some shadow banks have not been able to pay their customers because they themselves are not being repaid by the people to pay less money to. How concerned are you by all of this is a concern, and i think the problem at the moment east to a certain expand is the content that one of the reason use that use im gonna see is 32017. China has launched a campaign to the last person that you call them. The 1st is on the shadow back, the says start to and then have poverty sector, and then the government, 5 debt, part of the part of the say de leverage the economy. Educators, what is that basically is one to limit the financing and use that is not let them grow so much and used to be deal with the financing for those channels. And i mean, they have not been very successful to limit that financing for up of the sector and also the local government. Those have still been growing, but they happy i make some success actually even using the size of the share, the Banking Sector. So the number one, number 2, and this a quite big difference between the us. Ok system and the china one, the china, one actually most of the e. So the is that those money coming from the back on the Banking Sector is the banking start target commercial band. They want to do, but good a trade off the truck, basically the type of it used to have the loophole so that they can at high Interest Rate. They can also make some money, are charging fees all those management Wealth Management product to help day to cost to keep the costs of at least the money at the bank, but not already. The deposit that you pay very low Interest Rate is the method of getting those of managed pro management product end of the bank has to make some money. And so they are actually a bad most of them. So now i think the chart is gone and try the process to lose my car because these, these lending in the shuttle are brand new system act to the bottom of the package as well. So uh yes it is. My dispute is not our control yet. Okay. And that goes back to what youre saying at the beginning, that right now the risk is contained again, and im kind of asking you the same question here is how much risk is near Systemic Risk to the entire chinese economy . I ask this because obviously the, the ghost of the 2008 financial crisis is still with us. And we all remember that if one bank fails, if its a big enough bank, then theres going to be a domino effect. And so many other Financial Institutions are gonna fail and is going to put many ordinary people in trouble. Whats the risk of that here . I want to back if size of the shuttle back into something. I mean, not 25 treaty and youre talking about the co, the co among all that thats true to non Financial Sector in china is about the are just sort of the treaty. And so based on the, the shuttle paintings on getting knocked around 12 i 77 percent of that muscle band. And so i kind of 465. 00 is that sort of a muscle band and south asia. As i said, we did the chinese funding. So system, so some of those we get something also slate on back to a fully impact to the commercial banks. Its not this, they are actually are that the customer will want him to sell it. And those national bank, actually the bank to get to the top of it, you went up to the local and i financing, we call it. And so to some of those are the prices, you know, not the credit so. So um, so a lot of them, this is so the way people pull, uh, oh uh, size of the server and the system to the system. So, um, basically that they possibly can, i saw a, uh, and the chinese comedies on like the to pay them all, but they pop it. Oh, okay. What does that sound so, so or the restructuring. So on time to what so about that, i want to ask you because you said the word mailout on sean young. The trust that were talking about recently about 2 weeks ago, signed an agreement with 2 Financial Firms. There are a link to state owned uh companies. Is that a government bailout, the hidden government bailout a partial government bailout. What is it . We dont know yet at the moment, both of both specific trust and also the ccd. Try to see the traffic, but. Ready weve been trying to attract them back also across company they have pop the shuttle Banking System and created by their my, the phone will back on the executive. And so, according to that we might be able to go. Ready into a to go and then you said, you know, people for an operational at the both and so to control and that they are not pick a ticket goal for the s s, i think the maybe acting on behalf of government and directed ages. Thats pretty much for sure, but its not a bad all you have to do is i think the knowledge, the investigating redmond stay with me because i want to run of yours through a brief statement by showing young earlier this month. It said that some Investment Products were unable to be paid on schedule, direct quote, theyre unable to be paid on schedule because of multiple internal and external factors. It did not mention whether investors would be getting their money back. The dozens of angry clients held, were protest outside the companys offices and badging in august. Redmond, just as a reminder, were talking about people, you know, who bought some financial products. Me expecting a financial return. And last month in august they did not get their return. So they are justifiably pretty angry. How do you read that statement . Internal external factors . I mean, is limited in terms of the fact that basic spaces you could have these things. So i think hes not, the probably does cost that much as was for you formation and thats what im seeing now seek, take and see. See the truck uh, going into the company to be in the boat. And i have to go through the assets, but i think shed take try and see because these go to uh to the boat kinda and what was the record . I had to come out with some coffee structuring pad full. I dont go so he still remains to be seen, but up. But how great can we take something we have to do some boys. I think how much of this is tied to the property sector . I ask you this because i think even casual observe is of the chinese economy. I am among them who will understand that the profit, the sector drive so much of the economy over the last 2 decades. People have been investing Real Estate Developers and you know, private individuals have been investing in property because the price is going up. But now prices are following the really cheapest. Wed be the frontier trinity. And redmond, the, i, i even add those along to the list. And among those i, things that are nice on the estimate is not ready. I mean, ill be sol already grade number 18 percent of them. Ill probably use, im on the 2923. And so is that all people 5 people insect treaty, its from the shadow Banking System, the Trust Company as a lot for different products or so. Yeah, i mean its a foot property the minute and they are you now and these are the for the stress, the fact uh, payment uh we payment to those a investment product and the shuttle Banking System. Redman wong. Thank you so much for joining us on the program today. You are the Greater ChinaMarket Strategist at sax, so thank you. Thank you. So the syrian president , bashar assad, has regained control of the majority of his nations territory. But after more than 12 years of civil war and western sanctions, syria is now in a deep economic crisis. The majority of syrians live in poverty. More than 70 percent of the population needs humanitarian aid. As the cost of living rises, vulnerable households say that they have had enough hundreds of people who protested mainly in the Southern City of sway to demanding president charlotte side step down. Now this provinces, the heartland of syrias drews community, a religious minority which had largely refused to align itself with either side during the nation, civil war. The protest of now entered the 2nd months echo for 2011 uprising against asides rule. The Syrian Government blames its economic trouble on western sanctions, but many protesters is way to blame the government. For 12 years, we endured a difficult and disgraceful life. The state has been dropped. I ask you, bashar assad. When will the people of syria be able to live in dignity . Give them im of those living in coastal cities. I tell you, dont fear speaking loud voices. And if you cant, because of the shores dogs come to sway to where you can speak freely. The protests were sparked by government measures aim to boasting the economy. They include the slashing fuel subsidies and raising gasoline prices by nearly 250 percent. The government has doubled salaries for Public Sector employees and raised the minimum wage to help cushion the impact of raising prices. But the res would only be enough to buy a 3rd of the essential food that the World Food Program calculates. A family of 5 requires each month. Critics of the syrian president s blame his measures for accelerating inflation and weakening the syrian pound. The currency plunged to a record low of 15500. 00 pounds to the dollar last month. It had traded at 47. 00 pounds against the dollar before the war, or joining us from wellington in new zealand is cower. Im shar and economist, and a senior fellow at the new lines institute. Sir protests have been mostly in. So wait a why is that . Is that part of the country more impacted than other provinces . I think when it comes to living conditions, the situation in swayed out is as bad as it is. In other words. Ready in health areas, i think what happened in swayed out, continues to be contained there more for social and political reasons, dan, for economic reasons. The price of oil, the price of fuel has been multiplied by more than 3 recently. But heres a surprising thing about that, which is that syria used to be an Oil Producing country, and now it has to import its oil from mostly iran. How did we get to that point . Well, get to a combination of reasons. So most of the oil fields are currently at the control under the control of this year and Democratic Forces in the, in the northeast. And the fields that are under the control of theres even have been badly damaged to where the conflict, primarily because of the bombing from the International Coalition against isis. And. Ready basically, the Syrian Regime is unable to fix these oil fields and continue the level of production. So most of these fuels at our operating, at production, like a Production Capacity level, thats maybe 20 percent of its pre war levels. Whose fault is all this . Because the protesters blame the Assad Government for mismanaging the economy and the Assad Government says its actually all to do with the western sanctions on the economy. Its obviously, its extremely complicated and there are a combination of factors about i think if i had to rank them i would say that the number. Ready one reason why the country is struggling at the moment is that it start to read of this here and reason. The reason the country reached to this stage is above all because of the level of violence exercised by the Syrian Regime. However, even as the conflict at the level of violence, when what happened was the opposite of what you would expect in other context, the economy deter, rated further still. And that is because of the economic mismanagement of thursday. Theres even, its not allowing either its own cronies to operate in the business sector. Its imposing a fines on them, trying to partner with any remaining business that still generating profit. However, obviously there are other factors that contribute to the current living conditions. Sanctions is one of them, but its definitely not among the key contributors to whats happening right crumb stand by. Stay with this because theres another interesting part of this puzzle that we want to mention, which is that china as president choosing thing has recently offered to help rebuild syria. That she met the charlotte side and the southern chinese city of hinesville, which is hosting the asian games at the moment. Assads rear visit is in an attempt in more than a decade, a diplomatic isolation. Also note where the, the syrian president has recently re establish ties with arab nations that once backed his enemies, the Syrian Rebels car. And we mentioned all this because it raises the question, could this be a lifeline . I mean, chinese economic re engagement arab economic re engagement with syria. Could that be a lifeline for the syrian a con as well. First, regarding the recent track, personal and from regional countries, that seems to be old. But that because this, their energy failed to provide anything in exchange for that diploma added recognition and the promise of economic 8 for china i sent all that china is doing at this stage is basically just waving the syrian card in, in the face of the west. And saying, hey, thats one of the cards that we can actually use. Theres this region that you despise, that youre trying to isolate, we can rehabilitate that and work with it. I highly doubt china is genuinely interested in investing in syria. A china has a long history of giving promises and not following on them or not just in syria and iran. For example. You remember 3 years ago there was the promise of investing over 40000000000. 00 in Infrastructure Projects. And virtually none of that actually happened. And if you look out during those investments and in other sanctions, the countries in africa, se sudan before the downfall of the bus year regime or in zimbabwe. China does invest ink cartridge heavily sanctioned by the west. Only when there is enough certainty about the political future of there is in, in syria that does not exist. Im trying to realizes that. So i highly doubt they wouldnt be willing to take any risk by investing in the Infrastructure Projects that tend to take many, many years to come to fruition. Okay, so if theres economic mismanagement, there are sections of the outside world right now is not going to help or as youve just explained, are there any Silver Linings here . Is there any reason to hope for the majority of silly assyrians were living in poverty . And i must admit, im not optimistic at all the only way out for the country. The way i see it is through the political transition and the, the main obstacle to that political transition continues to be discerned, routine hope. The charlotte that refuses to budget refuses to give in. Ready info political concessions from big one since march 2011 to date. And because of that, i think the living conditions, the economy with all the continued to worsen current shar and economist and a senior fellow as a new lines institute. Thank you so much for joining us on the program. Thanks for having a demand for uranium fell drastically after the 2011 Nuclear Accident in japan. And thats because dozens of reactors which rely on uranium across the world were forced to shut down after the meltdown. But the 10000000000. 00 market is now making a strong come back. Price is stored to their highest level since the focus she but disaster recently, Industry Experts are warning of a supply crunch that could push costs even further up in the coming years. Lets have a look at the numbers that were talking about. Prices for uranian jumped to nearly 66. 00 per pound over the past months. Now compare that to the one off peak of almost a 140. 00 a pound back in 2007. The Uranium Price is slumped down to the range of about 20. 00 after the focus human disaster for reasons that weve explained. And then they went up again following russias invasion of ukraine. Moscow is the Worlds Largest and richer of uranium, and the war has also raised risks to Energy Supply chains. A rush to secure alternative supplies to russias orland gas has pushed up demand for uranium again. So the push by governments to go green countries around the world are ramping up Nuclear Power capacity to meet their 0 carbon targets. The World Nuclear association expects demand for uranium to nearly double by 2040 alongside prices. The stocks of uranium miners are also rallying, joining us from paris to shed light on all of this is polls door from and you are the founder and share of the nuclear consulting group. Youre also an associate fellow of Science Policy Research unit at the university of sussex. So we have outlined the reasons why demand is increasing while the supplies not quite matching demand. So it makes sense that the price is going up. That is going to continue for the foreseeable future, correct . The necessary way to say that a 5 to rate invest the space potential for the risk. And thats because all of this, based on the idea that in youtube could quickly help with the colonizer but according to the government. But it is, which is a strongly pro new to paper to bottom. And it takes up to 17 years to build just one Nuclear Power plant. So the significant questions as to whether this will continue. Um, what does this mean for consumers . Because especially since the start of the war, the ukraine war, consumers will be keenly aware that when the price price is of say, electricity goes up. Well then, you know, their, their cost of living becomes a much bigger problem. So if the price of uranium goes up and uranium ultimately is the source products and making electricity in a fair few countries, what will that mean for consumers when it has to be understood context um, which provides 42 percent of boring you ranging. Well, why its 2 more reacts is worldwide. The uranium goes via rushing boats and none and bother, theres no question of in bothering pentium fast content at the moment. So there was strategic political, a ministry of questions associated as well as the one that youve alluded to, which is cost. Basically in the short term, this wouldnt change very much for all consumers. The key tool of this is that you can needs boss subsidy to be built, democratize flight new. You see a lot usually is being built in commodity control states rather like china or what, what about a . Well, i was going to ask you about countries like russia, china, india, which apparently youre looking to nuclear as sources of energy in the medium term. Thats absolutely right. Its not really the medium term, given the fact. The fact is that the, the, the number of states but clearly that it takes up to 17 years to build just one new c a o clock, 17 years. So we must ask the question, do we have time . Do we have the money for new care . But in terms of india, china, russia, india is depending on russia. We know that symbols in terms of the con climate. Theres a few outliers, the u. K, as usual boys and alpha opponents is potentially speaking about. So theres a few sort of outlaws and tons of new here, but actually when one thinks about to net 0, the International EnergyAgency States very clearly the renewables will do the heavy lifting for net 0, the energy transition. Whats the single biggest thing that you want our viewers to remember about this when theyre thinking about Uranium Prices and what you said about, you know, where things are headed into short to medium term in the short term periods. Probably a good bass, but then tomorrow, you know, we know that mazda is based on the lumen boss. A way to say, say that the risk associated with this. But the market is the market. The reality is where were going with net 0. The reality is, is that, unfortunately, when you might need to or you dont, it seems very likely that nuclear is just too light for the climate of the energy process. Meanwhile, renewables is forging ahead in us of those on power, little kind of way. So what it looks like very clearly is that the renewable evolution is here and uh, okay, really interesting parting thought. Thank you for your insights paul door for me in founder and share of the nuclear consulting group. Thanks for joining us. And that is our show for this week. Get in touch with us on the x, formerly known as twitter at virginia is 0. And do use the hash tag a j c t c. When you do or drop as an e mail counseling, the cost analysis, your dot net, thats our address. But theres more for you online at alpha 0 dot com slash c t c. Thatll take you straight to our page, which has individual reports for links and entire episodes for you to catch up. That is it for this edition of counting the cost. Im several venue from the whole team here and go home. Thanks for joining us. The news on alices 0 is next the money, the rules biggest junction could be defined in Climate Change and transforming pacific on an economy. And the 2nd of to the special reports. 101 east investigate what state. Oh no, just how do states console information . How does the narrative improve Public Opinion . How is this as intended . Listen, we flaming the story. The listening post, i think the media, we dont cover the news. We cover the way the news is cover. The, in the us sense, thousands of weapons sees from yvonne to ukraine in a move that raises people, questions the hello. This is out to 0 line from the for the back. People also coming up to us for tompkins joined the race to become the next house speaker