Transcripts For ALJAZ NEWSHOUR 20240714 : vimarsana.com

ALJAZ NEWSHOUR July 14, 2024

Officials in rwanda meet to decide how to stop the spread of ebola from neighboring democratic republic of congo. In sport the world of cycling mourns the death of a young writer for the 2 year old dog lambrakis killed in a crash at the top of pollard. But 1st the arguments between the worlds 2 largest economies are causing stock market volatility worldwide the main indices in tokyo and Hong Kong Shanghai and sydney they all suffered losses in early tuesday trading in europe the markets steadied after posting their biggest today drop in over 3 is investors a concern that china is allowing its currency to slide and using the yuan as a weapon in the trade war with the United States and woman. Day in the 1st movie its kind in 25 years the u. S. Treasury accused the chinese of being currency manipulator is Chinas Communist Party newspaper responded by accusing the americans of deliberately destroying International Order the value of the yuan has fallen almost 2 and a half percent in 3 days since President Trump declared further terrorists on chinese imports from next month and in response Chinas Commerce Ministry said Chinese Companies have stopped buying u. S. Agricultural goods all that calls wall street to suffer its worst day of the year on monday more now from our correspondent in washington alan fischer well donald trump said he was going to call china come see manipulator on his 1st the office its taken until no you certainly were expecting from the treasury sexist evolution some sort of ruling on whether or not he thought china was a currency manipulator in october its been brought forward just in the last few hours donald trump said on twitter that he believed china was manipulating its currency to try and gain an unfair advantage against the United States now when they made this really could have years one of 2 laws they could have gone with the 2015 law or the one that was drawn up in 1900 they decided to go with the 1988 theres a reason for that its a slightly broader remit it gives them a wider option on how they can declare china to be come see manipulator what it means no is that steve mission with Donald Trumps backing will go along to the International Monetary fund and see china is essentially blocking the rules and you need to punish them but this is something donald trump has promised for a while and as you see we would in a trade war know were also in a currency war. Right lets speak to jane foley now whos a Senior Exchange strategist with rob a bank shes joining us live from london as we just heard from our correspondent alan fischer it now seems as is this as if this trade dispute has escalated to economic warfare. Well it certainly has a skated as it turns out about that but in terms of whether or not china really is manipulating its currency i think we need to step back and and look at what china really does do now the Chinese Renminbi of course is not a free floating Floating Exchange rate it is one which is managed by the peoples bank of china on a daily basis but what china are effectively doing is that theyre managing their currency to stop flows moving out of the Chinese Renminbi if they removed those controls to remember it would be far reeker as money moved overseas so yes they are manipulating it but they manipulate it to make it stronger not weaker said this is a i think one thing that perhaps president tom does not explain now clearly he would like the remembering to be nice and firm it would go against or go along with his wish to see the u. S. Trade balance balanced it would suit the us a favor but china is an economy which has been hit hard by the trade war since it is an economy which is slow in and its an economy in which theres been plenty of that stimulus particularly monetary stimulus now textbook economics would suggest that when you have a quantity which is slowing when there is a central bank which is easy the currency tends to fall so you could say that what we see here in the remember is an appreciation of Management Research which perhaps reflects chinas fundamentals so the timing of them allowing it to slip below 7 yesterday was interesting arrives in the decision therefore to label china as a currency manipulator which does have a Significant Impact doesnt it markets i mean could that be just a ruse if you like to offer some sort of political justification for the imposition of another round of terrorists to be imposed on chinese goods in september. Yeah i think the word politics is really pertinent harry there is of course the u. S. Election next year it is very important i think for trying to raise domestic market to be seen taking a very firm stance on china so i dont think we can necessarily think these these 2 instances china of course has been aggressive to it did choose to allow the currency to slip yesterday just days of course after the u. S. Did impose more chair of sound on china and it too this morning has used very aggressive language against the us suggesting that it is disturbing the world order so this is aggression on both sides verbal e. And of course that there has without doubt been an escalation that it isnt just about the u. S. And china there are lots of cut countries and currencies here which will be and have been caught in the crossfire at china for instance is the Worlds Largest consumer of commodities so any country which exports into china and commodities or any asian country which exposed exports and into china will feel the pain of the chinese room and b. Slips it will hurt their economy so we saw yesterday a lot of other currencies slipping into a lot of speculation other Central Banks may be caught up in this currency war and they will be forced to cut Interest Rates too so this is an instance between that the u. S. And china which could have very significant Global Implications very quickly jane does it look set to last for some considerable time yet or do you think that there can be a fairly speedy resolution to this. I dont think it speedy this is all part of the trade was we know that the trade will between the u. S. And china has been going on for some time and its very difficult right now to to see a quick end to this all right jane foley talking is live from london thank you very much. There china has warned protesters in hong kong that those quote playing with fire will perish by it beijings top office on Hong Kong Policy says ageing has immense strength and demonstrations should not mistake restraint for weakness the comments were made after a citywide general strike turned into another day a violent confrontation between police and protesters on monday. The Central Government will never allow any challenge to the one country 2 systems principle to go unpunished it will never allow any turbulence in hong kong 3 said National Unity in security. The Peoples Liberation army is a strong force that defends every inch of its sacred to retrieve its a force that is strong and reliable it is under the leadership of the commander of the communist party of china effect in accordance with of the. Lets go live to our correspondent in hong kong i should say in beijing scott heide lawyer scott it sounds very much as though the language coming from the chinese authorities is hardening. It is hardening a bit and you know what weve seen over the last couple of weeks now this is a 2nd press statement by the department here of the Central Government here in beijing in Mainland China commenting on whats going on in the streets of hong kong obviously whats been happening over the last couple of days the situation is an escalated obviously they are Still Holding true to what theyve been saying over the last you know again we had a press Conference Last Week and that is that theyre going to go forward and theyre sticking by kerry lam for now and that hong kong is their territory and that they really need to clamp down on these protesters need to abide by the law and obviously yes the rhetoric has started to change a little bit but you know it was seen and we heard about this this press statement coming out today we didnt know how and to what degree it was going to move things forward not considerably but obviously yes what were looking at right now is them you know again reiterating their position on the situation on the streets of hong kong and cools the chinese authorities will be at pains to emphasize to their population on the mainland that. These protests being tolerated should we say in hong kong theres no way that that can happen on the main. No yes exactly and thats something that when you when you talk about people who live on the mainland it would it really would even enter into the discussion if you will you know its one country 2 systems and thats something that china has can underline every time the day the Central Government talks about the situation in hong kong that there are 2 systems what they have in macau and hong kong territories and then what happens on the mainland so those are 2 distinctly Different Things so you know theres no kind of of course thats a concern of theirs but theres no kind of blurring of the lines that thats whats happening in those territories and the rhetoric theyve used again as we mentioned has has ratcheted up and how theyre describing it and then the situation here in Mainland China yes or no theres definitely a Division Line drawn in the sand that yes thats not going to happen here. Over. Scott high live in beijing. Now china is saying that it will take countermeasures if the United States goes ahead with plans to deploy intermediate range missiles in the Asia Pacific Region washington withdrew from the cold war era intermediate range Nuclear Forces treaty the i. M. F. Treaty last week we call on the us to exercise restraint and i also want to make one point absolutely clear that. China will not stand idly by and we are forced to take countermeasures should the u. S. Deploy into medium range ground based missiles in this part of the world or north korea has launched a 4th Missile Launch within 2 weeks seoul says it appears to short range Ballistic Missiles were fired from south wang hey province the north is condemning what it calls hostile joint military drills between the u. S. And south korea under a lank of is professor Cookman University and he says north korea is firing missiles to put pressure on south korea. In government and south korean president to feel very very uncomfortable because south korean president is actually quite positive towards the moon and he said ministration would like to have some exchanges but the can not do anything about the commie because of the un sanctions. Can not be engaged in Economic Cooperation so they want basically something symbolic and more scary as door need Something Like joint concert or football match or whichever they need money and south koreans cannot deliver it sort of deliberately increasing pressure on selves on the expectations there south korean government if you will few itself uncomfortable and we will be even harder for partial or complete lifting of the current economic sanctions target in north korea and if it happens. Are going to hear a lot of nies of whats wrong but not no. Weve got lots more to come on this aljazeera news hour including why Many Democrats think Donald Trumps rhetoric is partly to blame for the mass shooting in texas at the weekend and in sports theres a football and creating these chaotic scenes as he returns out to please his the worlds most successful footballer and this is brazil. Now indias lower house of parliament is set to rubber stamp a bill that paves the way for indian administered kashmir to be completely integrated into india all monday a president ial order revote the special thomas state has all the indian administered kashmir meanwhile the u. N. Secretary general antonio appealed to both india and pakistan to exercise maximum restraint so i can tell you that we are following with concern the tense situation in the region were also aware of reports of restrictions on the indian side of kashmir and we urge all parties to exercise restraint i would add that over the past few days the u. N. Military Observer Group in india and pakistan are the ones known as on mortgage has observed and reported an increase in military activity along the line of control but the Indian Government says the constitutional changes are necessary to integrate the region into india but opposition politicians say its a dull day for democracy paul brennan reports. A wide ranging security clampdown kept people largely off the streets in indian administered kashmir on monday thousands of troops have been deployed and Internet Connections were cut to deter any opposition to the sudden revoking of article 371 it was certainly uproar in the new Delhi Parliament when the decision was announced by home minister im not shocked. The Opposition Leader angrily accused the governing b j p of murdering 2. By revoking article 370. This isnt many ways a black defendant democracy we have seen if not the letter of the constitution certainly the spirit of the constitution and the soul of indian democracy being shamelessly violated but those whove been elected to protect it article 370 allows the Regional Government to make its own laws except in finance Defense Foreign Affairs and communications residents of kashmir live under different laws from the rest of india in matters such as Property Ownership and citizenship now the Central Government plans to split up the region into 2 parts kashmir and jammu and land back which will both be directly governed by new delhi. Reaction has spread along religious and political lines despite the security clampdown in jammu and small groups of hindus celebrate at the end of what they described as 30 years of banishment. That Kashmiri Muslims complain bitterly about their rights and identity being stolen from them and i have been opposition demonstrations in indian cities such as calcutta and new delhi the b j p all the Hindu Nationalist Party came to power in the elections in may this year with enhanced majority based on promises that it would remove these special provisions which the a c. Band of the muslims of india so there is a clear Political Polarization here with the ruling party trying to pander to its hindu vote bank. As part of the Government Security crackdown 3 prominent kashmiri politicians have been placed under house arrest 2 of them former chief ministers. Kashmir is one of the most militarized areas in the world and both india and pakistan claim it is then us theyve gone to war more than once of a kashmir since their independence from british rule pouring yet more troops into that contested region now may not necessarily be a recipe for calm paul brennan al jazeera. Well we can speak to our correspondent whos in the sufferer about the capital of pakistan administered kashmir and the action taken by the Indian Government come out. In pakistan as well as in pakistan administered kashmir. And just a few minutes ago all of the progress on the military chief general. Meeting goals they stopped. The august on the military forces by that kashmiris and that day were ready for all any eventuality it should be noted that senior u. S. Diplomat for. Rares and. Of course the progress on the government talking about that push me to issue but there are other implications as you read it because youre not allowed to move by india had skated by law trying to process or to get it should be understood that it was back in 1972 that india and pakistan agreed framework under which they would discuss all issues including meet under the Bilateral Forum of their shame. Now that india had moved. And next coach made similar dead and that means that by latrobe platform that india was talking about gone the important thing to see now is how this escalates did it and get involved just on the military in order to be spoken on the budgets on the Prime Minister will be talking to parliament dav and emergency session of parliament and he will also be giving a speech today so well be watching to see what he has to say but the situation obviously not getting any better. Talking to us live from. The capital of pakistan administered kashmir and now we can to talk correspondent says shemale whos in new delhi the indian capital currently that the lower house of the Indian Parliament is considering this constitutional amendment but its already

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