Repayments i dont think that is as much an issue as we thought weve sort of gone away from our debt and deficit fetish in a stride because its been saying its more political scare campaign than anything of you know 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 argentinas 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 10th term we hear a lot of people saying this year that capitalism has failed is failing is it time that perhaps we should look good at doing things a little differently ross to get a pair 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 struggle and you know and so should brazil given the resource and a mentor or i think the big mistake with my idea is that as we have opened up our economies weve forgotten about the libre market and social protection in a strategy we had a social democratic 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 approached i think the reason the president was popular wasnt that tried was damaging the American Economy it was a fact that the minimum wide should bring frozen and that you know it starts of being do you know a start think youve if you look after your life the market institutions at home then i think youre more likely to get a more successful competitive economy. Are pricey you nodding is it time that we do things a little differently is capitalism dead i dont think capitalism is dead i think one 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 in 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 new president him a fight him really fascinating hes given 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 leadership style is this all i dont know appear stunned 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 is seeking and what we saw earlier with more heat 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 when we you know when we look at the number of announcements that the president made here in the campaign as he took 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 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 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 populous about what happened 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. Money printing as a way of financing those social programs programs mexico is 1. 00 where its still got a positive outlook for 2019 but we have to work. Shit tim what do you 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 the u. S. Companies huge oil reserves its part of the g 20 and yet it still has difficulty translating all of that into into Poverty Reduction yeah i think youre right i mean archie think you know the president. Should use Triton Investment to grow the economy and to be able to have therefore the resources to provide for the poor i think abolishing probably mexico not kind of the g 20 i think ultimately that undermines mexicos position and capacity to help the poorest of the poor are just in mexico as part of the 6 part they put economist series actually for a stroll 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 a lot 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 play the the 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. Argentinas forthcoming elections what are your thoughts the race is pretty tight yeah the price is the race is extremely tight we see it as a 2 horse race the polls are showing that you know my 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 mockery who has the upper hand as the incumbent to get reelected and some final thoughts on turkey as the as the biggest regional economy. And and the region as a whole how will it will it fair 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 affordable to be able to finance their deficits at a time when theyre going to be 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 there 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 their 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 woodside or the neither of the workers pretty thing that i have to compensate us you know when i had a huge reserve army of leibert 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 like can do this sort of if you like pushing on a string when rights are law and that we must end our discussion its been great to have you with us many thanks indeed blanco in the point to him harcourt in city of with me here in doha. Thats our show for this week if youd like to comment on anything that weve discussed here today you could tweet me im 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 reports links even entire episodes few to catch up. But thats it for this edition of counts of the cost im adrian for the good from the whole team here in doha thanks for being with us the news on aljazeera is next. Rewind returns with a new series. On the stick around to see this documentary. Remind continues with the last try secret tell me at the cia since 1975 the living the same way that their ancestors did living in the forest in the jungle and it seems like theyre abandoned by everybody on aljazeera. We understand the differences and the similarities of cultures across the world. So no matter when you call home Aljazeera International bringing the news and Current Affairs that matter to you. Aljazeera. Violence and discrimination are all too familiar to many women in india a reality too often reinforced by bollywood. But its leading star is throwing his weight behind the cause. To believe that theyre doing and using his celebrity to advocate for gender equality. The snake charmers on a con witness. On an agency that. As the g 7 comes to a close the french president says he is hopeful about a possible summit between the u. S. And iran. Im sam is a die and this is out there there are live from coming up pakistans leader says hell go to any length for the region of kashmir as indias Prime Minister again rejects foreign mediation. Ecuador tightens its immigration roles banking it more difficult for thousands of venezuelans fleeing hardship back home plus. We traveled even to the amazon rainforest to meet an Indigenous Community threatened by encroaching development. Now World Leaders have given closing statements at the g. 7 summit it was a gathering dominated by trade and iran french president Emmanuel Mccraw held a joint press conference with the u. S. President donald trump he urged trump to meet with irans president Hassan Rouhani and defuse months of tensions between the 2 countries our diplomatic heritage james bays is at the g. 7 summit he joins us now or has the man your background james all but set up that rouhani donald trump meeting well hes said that it would be a good idea and he said it could happen in the coming weeks rouhani has been speaking in tehran and he says he sees a 2 month window for negotiations so we certainly for the 1st time since the trump ministration came into office have i think a space for diplomacy now i dont think we need to get ahead of ourselves here because we do know what a deal between iran and the International Community looks like there was an iran deal in 2015 and of course President Trump says its an appalling deal and its not clear whether iran would give up anything more than it gave up in that deal but the prospect of a meeting is now there one of the things thats happening in that 2 month period from now is the u. N. General assembly in new york that is a possibility President Trump was asked at a News Conference whether he would be prepared to be president rouhani. If the circumstances were correct toward the raid i would certainly agree to the one in the meantime. They have to be a good player you understand what that means and they can do what they were saying theyre going to do because if they do that theyre going to be met with really very violent force with kevin no choice so i think theyre going to be good. A lot of positive statements from dan trump about the trade deal with china to james there are talks about to resume. Well i certainly according to the u. S. Side they are this seems on the face of it to be a positive development worth saying similar to iran though there are still big fundamental issues that have to be resolved and while were talking about this age is a start to the talking again President Trump saying that his administration had received several calls from the chinese side very senior figures in the chinese side the vice chairman he said in china or drawing the administration and said they were prepared to talk again and he said he thought they were prepared to talk because their economy was hurt and. When you say do you think they want to maybe they want to and maybe they dont but i think they want to make a deal im not sure they have a choice and i dont say that as a threat i dont think they have a choice in the meantime the United States which is never collected 0. 10 from china will in a fairly short period of time be over 100000000000. 00 in tariffs so i think they want to make india. On trade i think we have 2 more developments which are also positive and perhaps more concrete one of those is the trade deal between japan and the u. S. And the other is the spat the trade spat between france and the u. S. On frances taxing of big u. S. Internet companies and before you got here President Trump saying that he was the hero retaliating with high taxes on wine imports from france into the u. S. Well theyve been working behind the scenes on that one and they say they are close to a deal so a positive outcome it seems overall on trade which is one of the difficult dividing issues at this g. 7. So james overall looking at the i mean there may not be a final solution to any of these or a final concrete deal or any of these issues that weve been talking about but does the conference end on a slightly more positive outlook at least that it began with when it comes to divisions over all of these issues. Or. Certainly we saw so many different agendas and so Many Division divisions 27 leaders given that back shot i think president macron be very pleased with what hes achieved is g. 7 as he hands the baton over to the next country which is going to preside over the g. 7 that just happens to be the u. S. So next years g 7 well itll probably be as Eve