Transcripts For ALJAZ NEWSHOUR 20240714

Back and devastation which will take many years to recover. 70 percent of the state of the year has already been developed the forested for lucrative timber then burned to create land for cattle rearing and sawyer production the rest is up for grabs and no one it seems is stopping them at the moment if you burn the forest you are backed up by a president and then you do exactly as you want to do because you know nothing will happen and thats a problem and we have seen statistically when this Law Enforcement fires in deforestation goes down when we dont have it it goes up. The thought has a still burning but will boast not bend on the bay heat of International Pressure or bow to the ambition of some of the strongest supporters that their aljazeera grown donya state north west of brazil pay in the news ahead President Donald Trump downplays north korea koreas latest Missile Launch its 7th in a month and indonesias Coffee Growers are in trouble theres been a bumper crop but not a bump a paycheck. Hello good to welcome back to your International Weather forecast well here across europe it is going to be a very active day in terms of Severe Weather and thats mostly going to be here across parts of Central Europe were talking to lockey all the way down across the central med and even in the northern part of africa and well get to that in just one moment but here across the adriatic were talking severe storms that are potential for hail as well as excessive rain so flooding could be a problem across much of this area where we seeing the rain extending and mostly affecting areas in the afternoon in the overnight hours as well when those thunderstorms are really do build up tempo wise rome is going to be 33. 00 degrees over here towards asked athens at 34. 00 degrees and by the time we get to sunday a lot of Severe Weather still going to be a problem dying down in the morning but we do expect here across northern italy by sunday were going to be seeing another event there touch wise up here towards the northwest look at these were going to sing paris at 33 degrees and london on sunday at 30 degrees there well i did mention that algeria as well as tunisia will be seeing some Severe Weather as well we have seen a lot of clouds across much of that area so not as active as to the north but still going to be a problem here algiers is going to be a showery day with those storms coming through at 28. 00 degrees tunis at 33 and for tripoli clear skies here with a temperature of 29. 00. On counting the cost this week we check the pulse of the Global Economy that age of populist governments is the independence of Central Banks comes under threat and the other intended consequences of trumps trade all plus the i. M. F. Warns on the missteps of brigs its trade is counting the cost just 0. The top stories this hour on aljazeera the u. S. President is stepping up his countrys trade war with china to new tariff increases h. L. 5 percent on all trump also ordered American Companies to return home in retaliation to beijings decision to impose tariffs of its own on 75000000000. 00 worth of u. S. Goods protesters in hong kong have destroyed surveillance equipment and put up barricades in the streets and riot Police Responded with tear gas this is the latest round of round these that began in june over an extradition bill that was later shelved. And thousands of people in brazil and across latin america have protested over the fires in the amazon rain forest president spears in prison enjoyable sonar has awarded the military in to help. G 7 leaders have been arriving in the french city of berets for their annual summit weve seen so far japans Prime Minister shinzo this was him landing about an hour ago. And there was also actually on friday canadas Prime Minister Justin Trudeau arrives there is what will they be talking about where you got the standoff between the u. S. And its allies over iran one of the many contentious issues that would come up during the summit also the worsening trade war between washington and beijing which weve talked about and Climate Change of calls here is that diplomatic editor james bay is reporting from here its. Just hours before the g. 7 started in the Iranian Foreign minister was in paris mohammed job with zarif met with president mccraw no pictures of the meeting were released probably so as not to anger President Trump. The meeting behind the closed doors of the palace highlights the very different approaches of the u. S. And europe towards iran however there is a new face at this years g. 7 u. K. Prime minister Boris Johnson some are speculating with breaks it looming he may want to consider taking a tougher position on iran in order to win favor with trump. If Boris Johnsons Fertile Ground for a no deal really is true and if what hes been doing in berlin and paris has really been a ruse of sorts then youre going to see the u. K. Pivot towards the u. S. Theyre going to see u. K. Started reading more of the u. S. Than his european neighbors and theyre going to start seeing a much more aggressive. Level of posturing from Boris Johnson who will be in the company of trump and who will almost be egging him on to start behaving in a way thats more u. S. Friendly than you friendly iran is just one of an increasing number of global issues whether 7 leaders are likely to have very difficult discussions the french president has already taken the unprecedented step of deciding not to seek a final communique at the end of the summit because he knows there are no words that will be able to sign up to. A number of other countries have been invited to this years g. 7 Prime Minister Narendra Modi of india will be attending and the growing tension between his country and pakistan over kashmir is bound to be discussed growing trade wars are also leading to fresh rifts the u. S. And chinas difficulties could further destabilize the Global Economy and here in france the new Digital Services tax which targets big u. S. Tech Companies Like amazon and google has angered President Trump whos even threatened to retaliate with higher tax on french wine. Ever since Trump Took Office the issue of climate has been one thats cause divisions that Global Summits it may well again be 6 of versus one with president macro and the canadian Prime Minister Justin Trudeau leading calls for the thousands of fires burning in the amazon to be treated as an International Crisis james bays aljazeera the ritz. And just south of births you have. With the counter protests happening flags waving there and weve got to talk about there as well hi natasha the usual trick i guess of keeping the protesters as far away from the actual leaders in the actual summit location. Yeah thats right i mean there are hundreds of protesters gathering here in the port of umm di it is just on spanish border more these protesters are intending to do in a few moments is more from here on the french side then for the spanish border among them there are anti capitalist kept unless there are far left groups representatives from major World Charities and knots of climate campaigners as well climates of course very much on peoples minds with those fires in the amazon rain forest which are ongoing now they are all united on one issue that is that they are here to speak out against the g. 7 summit which is happening just north of there in the coastal resort to parrots g 7 leaders all rising as we speak and what the protesters say is that those Global Leaders from those wealthy nations are responsible for many of the worlds problems including the growing gap between the rich and the poor including Climate Change one thing thats quite interesting as well this year as were seeing many yellow dress protesters now yellow vests them stray sions have been taking place across from over the past months many protesters angry against the french presidency model michael saying that he favors the rich over the poor so so many have said that they are quite upset or angry about the fact that a model marc was pushing tackling Global Inequality high on the agenda is the theme of this g. 7 summit because they say that he has failed to tackle inequality in fronts just quickly natasha what security like. Well as you mentioned. The city is actually about 12 kilometers south of pierre its not gives you a sense of how the police and the french authorities are trying to keep these protesters very far away from the summit to promote south there are about 12000. 00 French Police officers that have been mobilized the French Interior minister has said that you know nothing is going to be left to chance this protest is an official one police are aware its happening there will be a Strong Police presence but once the french authorities are moved worried about perhaps is perhaps sporadic violence because there have been some rumors over the past few days that some protesters might create incidences disturbances in different areas across this region so it could be a volatile situation but of course for now the atmosphere is more festive than anything else that isnt on day with the empty g 7 protesters thank you. Japan says north korea has fired what appears to be 2 short range missiles into the sea off its east coast according to south koreas military they were fired from some dock in south im going province japan says they cause no damage but it is the 7th such test in a month and u. S. President donald trump not concerned by these latest test no i dont think so i think that we have a very Good Relationship well see what happens that could always change but well see what happens kim jong un has been you know pretty straight with a i think. Were going to see whats going on were going to see whats happening he likes testing missiles but we never restricted short range missiles well see what happens many nations that. We tested a very big one the other day as you probably know. Ukraine is celebrating the 28th anniversary of its independence from the soviet union. The summer and the festivities one because grand is on previous occasions because the president has decided to spend some of the 11000000. 00 earmarked for the big day to actually pay bonuses to soldiers instead. Nigerias in the grip of a kidnapping crisis thousands of nigerians have fallen victim to a rise in the crime and having to pay millions of dollars in ransoms dont has a report now from kaduna in an area known as a kidnapping hotspot theyre. Taking the fight to the kidnappers these offices of Nigeria Special into robbery squad has spun into a tuple of the kidnappers have decided that at this point on the can do no highway. The thick forest nearby serves as a cover for the guns this highway has been a popular sport for the kidnappers to all talk potential victims the police say theyre making gains against the kidnappers will be caught over 200 ripples. This. We show you to do a whole lot in last 2 weeks we parted up on someone tonight and kidnap suspects. Traffic on the highway tells a different story. This was once one of the busiest highways in the country the highway links the Muslim States of the country to the other parts of nigeria now feel motorists are brave enough to travel and. Many are choosing not to drive when instead use the train yet even on the trains a squat is a must as the kidnapping guns get bolder and more sophisticated few places appear say. Abdul Malik Muhammad the siniora Government Official who was abducted from his home in the city of could do. Then they begin to say ok i should give the money as i dont have money they keep on asking are you have it because we saw cars in your ass country sell those cars we need money you have to give over if you dont you are going to kill you after 7 days in captivity of the malik was released after paying a ransom but not before being told to deliver a message to the world for 2 years there wasnt they give you all that i should be able to tell the government that most of them only port they are good with the media blame it if theyre not employed or people kidnapping people. But its not just frustrated you threw a ton into kidnapping its now a free for all with both pity and 100 criminals joining in. Robert and. Was kidnapped and held in a forest by a group armed with machetes he says they tortured him until his family paid or not some of 200. 00 they were drinking he said i want to give her life or single food for all through a good passive charge. So i was in between i was. Given to go back with my from iraq i dont. Want to give me a slap on america it wasnt. Until now kidnappers in the g. D. Had to get the Public Officials their letters and phone work is often in the oil industry what is worrying most nigerians about the current wave of kidnappings in their country is that no one will feel safe and. How about the world is either. A highly. Expecting a bumper crop this year but with prices so low some growers are actually warning they will go bankrupt if things dont improve for has that story from jakarta. Over. The harvest time at this Coffee Plantation in sumatra and its plenty for farmers who would normally celebrate but not this year they are the worlds 3rd largest growers of the robots to a variety of coffee beans but the market price their fetching is at an 8 year low but. If the price of coffee stays like this we cant continue we might not attend our plantations anymore because we cant afford fertiliser we dont have enough money to pay our workers in my case i still have to pay for my sons high school. Robusto is used mainly in instant coffee and demand has been increasing but prices have dropped this year because of the success of the 2 largest producers brazil and vietnam while indonesian pharma struggle to make money theres a growing demand domestically as more indonesians get a taste for what they produce growing affluence and urban ideation are driving the rise of the socalled coffee lifestyle and many more coffee shops are opening up some are part of a chain others like this one in jakarta independent i mean i come here to a. 3 times a week the price of coffee for what i get is well worth it not cheap but not too expensive indonesia is 1. 00 of the top 5 Fastest Growing coffee Retail Markets and has the lowest Coffee Consumption type person in Southeast Asia so theres plenty of room for growth the so much confidence in the industry that one coffee chain received 28000000. 00 from Venture Capital firms in the past year for its expansion plans even as it was that the local market can absorb a large amount of domestically grown coffee only 30 percent of coffee grown here was exported but if the price of coffee keeps dropping farmers will start planting coffee and i would be a huge loss for everyone was the. Demand from indonesia coffee drinkers has so far helped cushion the blow from falling export prices back at history. Is hopeful the price of coffee beans for the cover in the meantime hes planted other crops just in case Florence Louis aljazeera jakarta. From a russian spacecraft carrying a robot the size of an adult human has unfortunately failed to dock at the International Space station problems with the automatic docking system caused the failure so russias Flight Control center will attempt it again on monday. Im Kemal Santa Maria and these are the headlines on aljazeera the u. S. President is stepping up his countrys trade war with china and answering to new tariff increases each of 5 percent on a trump also ordered American Companies to return home this is in retaliation to beijings decision to impose tariffs on 75000000000 dollars worth of u. S. Goods as the trade war looms large g 7 leaders are gathering in france this weekend for their annual summit but here in on di about 12 kilometers south of here its where the summit is happening you have got the empty g 7 protests a reporter telling us not long ago that it is largely festive atmosphere there and they are being of course kept well away from the actual summit venue other headlines and protesters in hong kong have destroyed surveillance equipment and put up barricades on the streets riot Police Responded with tear gas this is the latest round of the rallies that began in june over an extradition bill that was later shelved. Thousands of people in brazil and across latin america have protested over the fires in the amazon rain forest brazils president has ordered in the military to help. Japan says north korea has fired what appears to be 2 short range missiles into the sea off its east coast according to south koreas military they were fired from some dock in the south im going province the 7th such test in a month however u. S. President on a trump is not concerned by the tests no i dont think so i think that we have a very Good Relationship well see what happens that could always change but well see what happens kim jong un has been you know pretty straight with a i think. Were going to see whats going on were going to see whats happening he likes testing missiles but we never restricted short range missiles well see what happens many nations that. We tested a very big one the other day as you probably know. And the syrian army has pushed rebels out of the last pocket of territory and how my province in the northwest the army took the remaining rebel villages with the help of the russians and. Update the headlines on Al Jazeera Adrian has got the news hour in about 25 minutes time and i believe hes also up next with this weeks edition of counting the cost. Ready to the people who will be at the workshop to listen. To. Someone who is also terror right we meet with global news makers about the stories that matter on the ground 0. Hello im Adrian Finnegan this is counting the cost of aljazeera a weekly look at the world of business and economics this week we check the pulse of the Global Economy the age of populist governments and ask is the independence of Central Banks under threat. Unintended consequences the Global Economy takes a hit from trumps trade war with china and the i. M. F. Warns of more pain ahead from the missteps of briggs trade. Its been a pretty eventful year so far in the world of geopolitics and economics and seeing as its august when most of the Financial Markets go away for a vacation and we thought that it would be the ideal time to take stock and what a year its been for the independence of Central Banks governors have been threatened resigned or been fired by populist leaders the Global Economy is slowing thanks to the ongoing trade war between the United States and china the International Monetary fund cut its Global Growth outlook saying that missteps on trade and briggs it could hurt any recovery the World Economy will expand by 3. 2 percent this year the fund said that growth rate would be the weakest since 2009 but the funds growth predictions are far more optimistic than those of some independent analysts and sanctions and the threat of sanctions have ratcheted up the tensions in this part of the world the middle east the ongoing breaks it saga. Selections that could change both the political and economic landscape and not necessarily for the best so weve got a lot to get through so without further ado lets bring in our panel joining me in the studio is ackbar khan senior director of Asset Management at our eye on investment joining us from one of sallys is him in a blanco is the head of Latin America Research at various maple craft and in sydney we have tim harcourt tim is the j w neville fellow in economics at the university of New South Wales and the author of the airport economist and trading places welcome to you all good to have you with us on account of the cost to start with you u. S. Fed chief Jerome Powell has been on the receiving end of some withering attacks from President Trump what do you make of that is the independence of Central Banks under threat i think independence of Central Banks is independence in ny im only you know i think all Prime Ministers and president s do try and influence them in some current of why President Trumps a lot more blunt than others of course and he made it very happy very clear that he was unhappy with the decision and took to twitter as easy as he always does in a sort of new why of pain president we had that rate cut from the fed a couple of weeks ago to me we expecting anymore well the fed governor. Said he wasnt i mean he said he was just going to tinker. And i guess President Trump was mournful of the. I guess the stance of the European Central bank and also china in cutting rights powell has said who tinker a bit. By sickly reasonably reasonably hawkish compared to other other other Central Bank Governors but he did not rule out possibly cutting again but that didnt seem to be enough to President Trump. Turkeys Central Bank Governor was fired the new one brought in by president did exactly what you want told him to do what do you make of that. And interestingly enough the markets liked all of what was done so there was a lot of fuss about Central Bank Independence that in turkey as weve seen in other countries you mention the u. S. Its happened in host of countries as jim mentioned in easier india etc etc so theres a lot of fuss when the when when ed had changed the governor they slashed rates as he wanted as trump pointed and since then the lawyers strengthened significantly they just came out recently and lowered their inflation forecast for the year as world the turkish authorities and so the markets actually interestingly enough responded quite well so the market saying that one knows more about the economy than the central bank of fact its essentially given in the beginning the green light. Even. Mexicos finance minister quit why well i mean theres theres clearly to come submerging in the Mexican Government one its a pragmatist and one is a more dogmatic one and clearly the right now the dogmatic more populist arm of ministration is gaining strength and so the finance minister clearly you know showed some serious policy disagreements with the government and decided to. Move away from the administration and thats something that you know were now seeing in the economy but we have been seeing in regulatory agencies since the beginning of the administration so its a trend we expect to continue ok so we put his resignation be seen as interference in any way well i mean you know we have been seeing it in latin america not just in mexico and from the you know different opposite ends of the political spectrum so we look at brazil and we look at levies resignation from the Development Bank in brazil earlier this year you know of course that was the reason for that was alleged intervention from president also narrow you know the question of institutional independence more broadly not just Central Banks in latin america its one. Heated debate and Central Banks in the region you could say again in the pendants just you know 2 decades ago. In real terms but for the most part theyve never been fully independent and a lot of political interference remains in most countries with some notable exceptions maybe tina being one of them all right lets talk about one of the years dominating stories that the trade war between the u. S. And china. China is hurting growth is slowing should we be worried well i think we should in the sense that. The last chinese number 6. 4 was not what weve been used to in the boom times and so i think there is some impact that the tried war is hitting between the u. S. And china and also you know asia theres a tribe war in 9 between japan and south korea so there is some fear for that and just to pick up. The last point you know in latin america the new Mexican Administration has abolished mexico which is actually the tri promotion i should say here that attracting Foreign Investment and trying. To mexico and given mexico been a member the Pacific Alliance and the Transpacific Partnership thats quite a negative step so i think. Around the world Latin America Asia and the u. S. We are seeing signs of protectionism and economic populism which has has reasons for all of us to fear from the middle east to turkey to argentina. If any one nation should have benefited from this trade war between the u. S. And china it should have been brazil as a as a brick nation but also nora doesnt exactly have the best of relations with that with president sheen az. Well i mean i think we dont really know yet what the relationship is like because obviously the rhetoric during the Election Campaign was very negative towards china but you know the reality of campaigning and governing her very different and coming to government and president also narrow has to you know take into account that China Remains one of brazils main trading partners and that the export of soft commodities namely soya is dependent on chinese demand and so i think you know the announcement a couple of weeks ago that he will be traveling to china at the end of the year to seek new trade agreements new negotiations does point to a more pragmatic side you know aside from the the rhetoric china rhetoric that he will maintain those relations now how warm or moderate will those be i guess well have to wait and see. The destroyed war a global slowdown depressing demand oil thats thats not good for this region the middle east in particular a region thats dependent upon oil is it its depressing demand in in general also for oil will that depress demand combined combined with increased supply coming out of the u. S. Shale production obviously compounds the problem which is why russia and opec are having to fight even harder to cut their supply to offset both the higher supply from the u. S. And whats now turning out to be less growth in oil demand so russian opec have their work cut out for them to be further than theyve done a reasonably good job in keeping oil in the mid sixtys if. You know at the end of last year we were in the low fiftys from an oil price perspective so its the battle continues is opec still relevant because. The nation that were in right now cattle are leaving opec this year well opec is relevant because. Oil producers are all production is focused with in russia and opec countries and now in the u. S. So if 2 thirds of that is in terms of russia and opec are working together to bring down their production of oil and thats obviously helpful for the Global Supply and demand balance ok lets move on to the u. S. Debt ceiling are 22. 00 trillion dollars but rising whatever happened to republicans fear of a debt of wanting small government thats politics isnt it so the u. S. Has a 110 percent of debt to g. D. P. Now it was in the mid sixtys about 65 percent or so debt to g. D. P. Before the financial crisis 10 years ago 12 years ago so its risen quite markedly is it should we be worried about it is it a problem it is obviously having more debt is a problem but when the country that has more debt is United States and they can just keep printing more money as they have shown a willingness to do over the last decade its less of a problem than if other countries did the same thing printing money is surely sometimes that sometimes the pigeons have to come home to roost you cant keep printing money forever can you you cant but the obviously the Central Banks globally have printed about 12. 00 or 13 trillion dollars since the financial crisis all it does is it pushes the problem further down and from a political perspective thats helpful because it pushes the problem out of the election cycle and and also it is the Central Banks didnt think they had any other choice frankly when they started printing money it was an unprecedented policy approach but they felt they were facing unprecedented times jim should we be worried about debt the new thinking it seems among more than Monetary Policy advocates is that debt no longer matters. I want to strongly we had a bit and deficit scare before the election now the elections over its sort of gone on. A very low in any case so i think. Provided youve got. An export process is. In the in the last issue the last question where we talked about brazil and china both the strong and brazil we have some help with stronger Commodity Prices you know strategies had a morning boom with exports to china brazil which had a dawning boom would soybeans and so on so i think if you know a situation where youre commodity economy and you can make your interest free points i dont think that is as much an issue as we thought weve sort of gone away from a debt and deficit fetish in a strong because its been saying its more political scare campaign than anything of. Grounded in an economic theory. Does debt matter i mean i guess it does for argentina still under its i. M. F. Program what is the state of economy right now. Well i was i was listening you know to the to the other answers and thinking well if you print money for long enough then you push it into so many electoral cycles then it becomes a structural problem so youre talking about you know that a Monetary Policy no matter what stage you are within a government so i mean of course that matters to argentina and the key question right now is whether the next administration whoever it may be you know will be able to repay dead or needs to restructure the payments schedule with the i. M. F. You know its unrealistic for argentina to face its that payments in 20202021 so the question is whos sitting at them the other side of the of the negotiating table from the i. M. F. You know will it be precedent mockery in a 2nd administration or with will it be about the fernandes and Christina Pearson or so you know of course in terms of where the economy is i would say its in the intensive care unit its currently stable but our prognosis is reserved and it really depends on how the Political Uncertainty of this Election Year pans out and what the actual policy proposals are from whoever takes government on the summer tends to where a lot of people saying this year the capitalism has failed is failing now is it time that perhaps we should look at doing things a little differently ross to get a bit out there with his point you know with that dive bar from argentina you know you have an economy like argentina with great Natural Resources and Human Capital it really should be like a straw youre in and so should brazil given the resource and a mentor or i think the big mistake weve myatt is that as we have opened up our economies weve forgotten about the libre market and social protection in a strongly we had a social democrat government led by the light bob hawke who are opened up the economy ridge. Tariffs my the struggling economy very open and competitive but he did so with very strong scifi nets in terms of a wide accord with the tried unions and pension superannuation and universal health care and i think if you dont look after your social safety net as you open your economy you do end up with an economic populism approach and i think the reason the president was popular wasnt that tried was damaging the American Economy it was a fact that the minimum why should being frozen and that the United States of being do unionized i think youve if you look after you like the market institutions at home then i think youre more likely to get a more successful competitive economy. After i see you nodding is it time that we do things a little differently is capitalism dead. I dont think capitalism is dead i think none of the systems are perfect they all have flaws but taken to an extreme none of them work very well communism taken to an extreme was a disaster i think up it wasnt taken to an extreme clearly its flaws are evident theres a huge inequality of wealth i think in the United States the top 0 point one percent of the population has the same wealth as the bottom 90 its an extraordinary statistic. That level of inequality is just a function of continued gap you know the success of capitalism so there has to be some checks and balances probably so that you do not end up with reactions where the vast majority of your population is not benefiting from Economic Growth and its going to a smaller and smaller proportion of people who act interestingly enough. Less and less tax because theyre rich enough to avoid tax someone who is doing things differently is mexicos you president him in a fight him really frustrating hes giving up his private jet his personal security guards hes opened up the president ial palace he drives around in a v. W. He didnt go to the g. 20 what are we to make of him and his his leadership style is this all i dont know a p. R. Stunt is there any substance to this well i think theres a degree of substance but then theres also a degree of continuity with the you know political culture of the left in the pink tide i think you know in some in some ways you can argue mexico arrived to the party a few years too late. In terms of the type of leadership that lois is seeking and what we saw earlier with more in europe why for example and and i think you know with saving the distance of the size of the 2 economies you can compare them in terms of their style the key the key risk we see with mexico is the like of certainty in terms of policy. And the lack of clarity in terms of how different policies were together so for example. And we you know when we look at the number of announcements that the press and make here in the campaign as heated government in terms of social spending you know a lot of the policies have worked in other countries but the key question is how can you afford those policies sustainable sustainably over a 6 year period without increasing your debt your debt to g. D. P. Ratio and when you have you know major questions about the sustainability of your Largest Company pemex when youre being downgraded and so the the main problem is not necessarily what im alone is proposing to do but actually we are uncertain about how hes going to finance those proposals and thats where the issue of sustainability and comparing to you know populism a will happen in in argentina and in brazil you know in the last decade comes into play because you know you dont want to be looking at a mexico 10 years down the line that is struggling with you know how your levels of debt inflation you know money printing as a way of financing those social pro programs and saving mexico is one where its still got a positive outlook for 2019 but we have to watch it but what are your thoughts on on mexico it has this this enviable position with a massive market to the north its a Manufacturing Base for u. S. Companies huge oil reserves its part of the g 20 and yet it still has difficulty translating all of that into into deposits the reduction. I think youre right i mean archie think you know the president. Should use tried in investment to grow the economy and to be able to have therefore the resources to provide for the poor or i think abolishing pro mexico not going to the g 20 i think ultimately that undermines mexicos position and capacity to help the poorest of the poor just in mexico as part of the 6 party people economists. Series actually for a strike in television and what i noticed is that mexico has very good free tried logistics and transport links with the eyes of pacific and with the Pacific Alliance with chile and colombia and peru had a lot of things going for it not just the the border nor think the the overwhelming Media Attention on. Immigration with the United States and the crime problems along the border actually undermines the very strong fundamentals of mexican industry a lot of the law of the mexican manufacturers have very strong links with the state of victoria here in australia so i think theres actually a good story for mexico but i actually think they should use try to innovate spent the Transpacific Partnership the g 20 to drive better growth so they can pay their their social programs that are important to the left and important for social stability ok were heading towards the end of the program just some final thoughts before we do conclude that. Tinas forthcoming elections what are your thoughts the race is pretty tight. Yeah the price is that the race is extremely tight we see it as a 2. 00 horse race the polls are showing that you know by chris benefiting from a Stable Exchange rate with the dollar inflation is coming down its still very high by International Standards but its still good news salary cells that are still below inflation so theyre not catching up but the purchasing power is recovering from what was a very very volatile 2018 with a major devaluation of the past so so you know and lest we see some some extreme changes between now and october i would expect 2 for there to be a 2nd round runoff to decide who will be the next president and as we get closer to the election if the economy remains stable i think its still precedent mccree who has the upper hand as the incumbent to get reelected and our final thoughts on turkey is that as the biggest regional economy. And and the region as a whole how will it. We know with the Saudi Arabian economy in particular slowing. So that the gulf region and turkey i think the similarities if you like that they have is that they dont ask economies are hurting for for perhaps differing reasons but theyre hurting but whats bailing them all out at a time when its governments are finding it difficult to balance their budgets and theyre having to to to be more conservative about spending is the we were talking about fed policy and Interest Rates as u. S. Interest rates come down. Global investors go elsewhere and look for yield and look for returns and one of the things that the gulf and he has benefited from very significantly in the last couple of years is that their cost of borrowing keeps falling more and more which makes it easier and cheaper and more fordable to be able to finance their deficits at a time when theyre going to be the struggling so if wed had the same Economic Situation in turkey in this region when Interest Rates were 5 or 6 percent higher that would have been a very different situation so they are being bailed out by what looks to be lower for longer if you like the global Interest Rates they are obviously measures in place across the region to try and improve the domestic situation but governments are constrained because theyre not necessarily able to. Get as much income as they would like because the Global Economy is slowing and the out the the demand for that output whether it be oil or the goods that he produces is softening and is the u. S. China trade war going to be resolved anytime soon is china going to have to stipulate to to to save its economy or sit out of the china cat on the side what used to you know when i 1st went to china 20 years ago i said you know do you have Workers Compensation in china in the factory manager would side or the neither of the workers pretty thing that i have to compensate us you know when i had a huge reserve army of live and never got live or shortages and thought like the markets and wall of china so they wont be able to stimulate the economy in the sign why i think the whole worlds going to. Suffer in some wise from. Incapacity of stimulus in the same way that it worked during the Global Financial crisis and in 2000 and i dont think thats why theres been pressure on Central Banks to rights but now theres only so much that i can do this sort of if you like pushing on a string. And there we must end our discussion its been great to have you with us many thanks indeed blanco in the. City of with me here in the. Show for this week if youd like to comment on anything that weve discussed here today you could tweet me im at a finnigan on twitter please use the hash tag a j c t c when you do or you can drop us a line counting the cost at aljazeera dot that is our email address as always theres plenty more few online at aljazeera dot com slash c. T. C. That takes you straight to our page and theyll find individual links even a time episodes for you to catch up. But thats it for this edition of counting the cost im adrian for the good from the whole team here in doha thanks for being with us the news of aljazeera is next. Aljazeera explores prominent figures of the 20th century and how rivalries influenced the course of history steve jobs and much better marketeers bill gates for apple like than. Bill made software what it is today will change the world to high tech visionaries whose breakthroughs inspired the digital revolution jobs and gates face to face on aljazeera. Across the United States indigenous families are searching for their loved ones for relatives of people who go missing finding closure is often impossible people im meeting here to raise money for the search efforts of a young woman advocates and family members have started to raise awareness about the high rates of violence that disproportionately. Impact indigenous communities most Tribal Police departments are understaffed and under we sourced another factor is that tribes dont have jurisdiction over nonnative americans for all crimes there but a lot of concerns that the federal agencies dont respond that they dont take these crimes seriously a lack of evidence is the main reason federal officials are declining to prosecute crimes on reservations that shouldnt be the end of the discussion. There should be then a ok lets see well im wrong in this case why the is no evidence or why the evidence isnt good enough and make sure that doesnt happen yet. Aljazeera where ever you are. This is aljazeera. Hello im adrian for the good and this is that he was live from doha coming up in the next 60 minutes taking the trade war with china its what you level donald trump perhaps even more tariffs as he prepares to join g 7 leaders in france. The amazon files also feel the agenda that brazil has now ordered troops into battle will. Tear gas and road blocks in hong kong as protesters target transforms for the rallies against the government. But in todays u. S. Coffee growers are in trouble lets put a bumper crop but no bump a paycheck. A trade war between the u. S. And china thats already rattling the Global Economy has been taken to a new level by the u. S. President as leaders of the g. 7 nations prepare to gather in france donald trump increased tariffs even more on hundreds of billions of dollars worth of chinese goods at the order that u. S. Companies to pull out of the country will talk more on the g. 7 at the moment but we begin with a report from aljazeera is Heidi Joe Castro in washington. The trade war between the worlds 2 largest economies just boiled over in the span of 280 characters on friday just after u. S. Stock markets closed u. S. President donald trump announced via twitter starting on october 1st the 250000000000. 00 of goods and products from china currently being taxed at 25 percent will be taxed at 30 percent additionally the remaining 300000000000. 00 of goods and products from china that was being taxed from september 1st at 10 percent will now be taxed at 15 percent this was trumps retaliation after beijing announced a few hours earlier that china will tax an additional 75000000000. 00 worth of u. S. Goods also starting next month that came at the end of an already tumultuous day earlier friday the u. S. President tweeted and order to american businesses move supply chains out of china immediately trump does not in fact have the power to command u. S. Businesses to leave china but he does have leverage he can encourage them he can not give them government contracts for example that if theyre buying things from the government or strine a sell things to the government but no he cant he cant stop that the tweets still spooked investors the dow jones closed more than 2 percent down the tech heavy nasdaq index was off by 3 per. Cent both signs of the importance of the Chinese Market to u. S. Companies all of this comes at a particularly vulnerable time in terms presidency a growing number of economists forecast a u. S. Recession on the horizon driven partly by the white house trade policies trump has responded by blaming everyone but himself i think the word recession is a word thats inappropriate because its just a word that the. The certain people are going to become and certain people in the media are trying to build up because theyd love to see a recession trump also took unprecedented aim at the chairman of the u. S. Federal reserve the central bank lowered Interest Rates last month but not as much as trump hoped that earned its chairman this comparison from trump who is our bigger enemy jay powell or chairman c. The chinese leader President Trump will spend the weekend in france at the g. 7 meeting with fellow leaders of major industrialized nations the white house has asked concerns of a global recession to be front and center and no doubt the u. S. China trade escalation will dominate those discussions castro aljazeera washington or the g 7 leaders will gather in the french city of barretts in a few hours the trade war between the worlds 2 largest economies is just one of the issues competing for attention the 1st tariffs that used to come into force in a weeks time for express isnt about elma call of jodis aguilar merkel also the modern urgent talks on the fires engulfing the amazon rain forest and theres also the attempts to salvage the 2015 nuclear deal with iran the us pulled out of that last year but european nations are working to keep it in place our diplomatic efforts of james frey at bay is brings us all the details now from barretts. Just hours before the g 7 started and the Iranian Foreign minister was in paris mohammed job with zarif met with president mccraw no pictures of the meeting were released probably so as not to anger President Trump. The meeting behind the closed doors of the palace highlights the very different approaches of the u. S. And europe towards iran however there is a new face at this years g. 7 u. K. Prime minister Boris Johnson some are speculating with breaks it looming he may want to consider taking a tougher position on iran in order to win favor with trump. If. Really is true and if what hes been doing in berlin and paris has really been a ready ruse of sorts then youre going to see the u. K. Pivot towards the u. S. Theyre going to see. More of the u. S. Than his european neighbors and theyre going to start seeing a much more aggressive. Level of posturing from Boris Johnson who will be in the company of trump and who will almost be egging him on to start behaving in a way thats more u. S. Friendly than you friendly iran is just one of an increasing number of global issues whether 7 leaders are likely to have very difficult discussions the french president has already taken the unprecedented step of deciding not to seek a final communique at the end of the summit because he knows there are no words that will be able to sign up to a number of other countries have been invited to this years g. 7 Prime Minister Narendra Modi of india will be attending and the growing tension between his country and pakistan over kashmir is bound to be discussed growing trade wars are also leading to fresh rifts the u. S. And chinas difficulties could further destabilize the Global Economy and here in france the new Digital Services tax which targets big u. S. Tech Companies Like amazon and google has angered President Trump whos even threatened to retaliate with higher tax on french wine. Ever since Trump Took Office the issue of climate has been one thats cause divisions that Global Summits it may well again be 6 of vs one with president macro and the canadian Prime Minister Justin Trudeau leading calls for the thousands of fires burning in the amazon to be treated as an International Crisis and james joins us now live from south asia on the just outside beer its in france james to what extent is the u. S. China trade warnitz latest escalation set to dominate this summit. Its certainly going to be one of the big divisive issues among these 7 leaders who have very different positions very different agendas right now but it will be important because its what the g. 7 is supposed to be about and thats the Global Economy and clearly there are deep concerns about the Global Economy about that trade war between the u. S. And china with the dow dropping more at the close of trading on friday just highlighting i think how worried people are that this could slip the world into recession mode so real concerns about not just that but the idea that protectionism is spreading around the world and i think the host of this president micron will be somewhat concerned to see what president truck comes up with President Trump didnt really want to come to this summit with told his kid visors persuaded him he needed to be here he asked for a session on global trade and that has been inserted into the program and President Trump before leaving washington d. C. Said he was very concerned about the new french tittles Digital Services tax that will target big u. S. Tech firms and again hes floated the idea of retaliation that specifically putting higher taxes on french wines imported into the u. S. As you said at the end of your report james several g 7 nations been invited to attend by the french whats the significance of that what will they be looking to get out of their attendance. Well thats part of the french plan for this summit and it will go in many many Different Directions because as you saw in my report there are so many different crises but what the french want to do with this is focus on inequality around the world and thats why youre seeing leaders representing regional groupings from other parts of the world including a selection of African Leaders coming to this 7 that is certainly supposed to be one of the key areas that theyre going to discuss its worth reminding you that theyre not going to come out with any great declaration the french have already said because of the differences theyre not going to come up with a final communique so therell be lots of discussion very likely very unlikely i think to be any major decisions. Change many thanks indeed that diplomatic editor james bay is reporting from just outside beiruts fronts at the moment so the president of the European Commission is. Speaking we will listen in to what he has to say and. Bring you that bring the details of it in the next couple of moments i want to show you some pictures now though of demonstrators. Near barrett score statue in central the city itself is on lockdown but. The 7 summits it seems always. Attract protests to varying degrees some of them quite violent French Police and thought to be quite forceful with decent protests to see if there is any trouble out of serious the trash is with the protesters right now whats the mood then attention. For the time being is quite festive and i have to say that you really dont see many Police Officers to talk to any so or a couple of them the way people are making their way from andare the poor which is the south of france around this they probably can see its a little bit behind me all the way across the spanish border to the town they were in this a few kilometers more we have a 1000 people anticapitalist people from far left groups climate campaigners people from Major International charities and they all were united to say that they are against the g. 7 summit that is taking place just up the coast about 12 kilometers north from here the result to be a rates g 7 leaders are arriving and the protesters are saying that those global readers that are actually responsible for so many of the worlds problems whether its at the increasing wealth gap between the rich and the poor or whether it is a Climate Change and they say that this summer so this cost of course millions of dollars to be held but in fact the issues that are going to be tackled are not those that are going to help some of the worlds neediest its also interesting to see there are many not getting the best protest as you might remember Yellow Vest Movement has been swept really across from so over the last few months with many yellow vest protesters saying that the french president is model marco hes hosting this to 7 summits has done to listen to close the gap between the rich and the poor and for all so clearly say its quite ironic that he has made tackling global in a call the same one of the main themes of this song