Uprisings a stark warning says the pandemic wipes out a decade of economic growth. In the end maybe in a conservative country the choice of continuity was too appealing chief cabinet secretary. Replaced his bastions as Prime Minister stepped down as the countrys longest serving Prime Minister for Health Reasons challenges to pick up where they left off and make sure their twentys are not a wasted decade. I have attempted to turn around the stale economy with a 3 pronged revival plan we have inherited an economy that struggled with deflation and slowing growth after the stock and Property Market crash in the 1990 s. The effort had limited success and rb nomics as it was known was more or less abandoned the central bank introduced unconventional tools to tackle the countrys problems from driving Interest Rates into negative territory to quantity of easing again with limited success right now the economy is in its 3rd straight quarter of recession in the 2nd quarter of this year the economy shrank an annualized 28 point one percent due to the pandemic to counter that our bay initiated a trillion dollar Stimulus Program the countrys debts are expected to hit 268 percent of g. D. P. By the end of the year thats up about 40 Percentage Points from where are they inherited so what can we expect from surrogates premiership or joining me now from tokyo is now a year or she could go now is a senior economist that tokyo based Sumitomo Mitsui trust bank good to have you with us so is abby nomics still relevant today yes it is. Then i make you feel very important because its accommodate accommodate my theory potency and expansionary policy. That you know we cant let up already because of an army yes i was able to brag that with a phrase and now raised probably 9. Accommodative always be on the up or the have f. That definitely pick on me. So what do you think sugo will change if anything then to abba eban or mc. I think to get out of the raving water the same as athletes that maybe some most different. Folks thats me fruit wrecking after full body items ration the most things they go through the phone. And that in fact i expect him for september no way this year small fire phone charity or how many instead of medicine some office is patient and create that if their agency is somewhat serious a few of the government. I think really the restructuring original plan a 30 no. Means around a center a young cycles and alex do you think that will deal with some of the basic structural problems and challenges which still face japans economy i mean basic one of which is an aging population right as everybody know your path has the oldest population is i walked in your best suit or has said that it was announced something major is so therefore in prospect that he has the 1st man i expect this is all well. Its sam says the funny this stove is thus the ending for operation so across the city from morning their economy may be the key to boost defense economy i expect so though we have succeeded in promoting begin to fall and thinking isnt that best fits into the same time all the expansion measures you are talking about they dont help the debt problem does japan have a debt problem do you think at this point no 8000. 900 percent defines a government thats plana by domestic entities that back up the defense was what the folks wanted plus sent up sounding defines government from the end of must have been 20 and they meant the top by a defunct the 2nd largest brightest Insurance Companies and the pension fund was 22 percent. On 3 percent do not expect writing best ever to raise or not go at 90 percent that would be had by the message and the not. From a dramatic end to the need daisies. Participant management. And of course you know its pretty recent b. O. J. In addition that the usa has a press interest. If you have control policy as long as the current be a part of the uns accomplished amanda did you see how to read that any sound i agree thats at best prices are going. To g. D. P. Ratio. Is high isnt it but i dont think we raise the call. To an effect im just that. You dont think that what he said before the election is going to that hes actually going to follow through on that ben i dont think you know it is the consumption tax he had said that c. B. S. Face the necessity to introduce a consumption tax for 10 years to a place more emphasis on economy recovery during our after climbing one thing that discussed this clock because thats you know what about when it comes to International Relationships what do you see in store closer relationship with washington. I mean you start. To have really those people might think its funny that its a way of Foreign Policy from other foreign minister he is also the man on the scene as a result jeff rense Foreign Policy really fast us right here and were focused on today since then centuries before china. So where does it leave our relationships with china if he moves closer to the u. S. I think we also priced africa is known to connotation ship with china. But i mean its us just so you know were. Reading translation steps if that source. At the same time thats for sure looks like its going to be a challenge thank you very much for your thoughts and comments and analysis on that thank you. Under the headline our markets detached from reality we probably have another one thats raised eyebrows pakistans care c 100. 00 has surged more than 36 percent since march this year making it one of the best in asia yet the rally may have a long way to go the market is still 50 percent below its peak its extraordinary because pakistans economy was pretty fragile before the pandemic after a 6000000000. 00 loan from the International Monetary fund last year the lender of last resort extended another 1400000000. 00 to tackle the health and economic crisis pakistans Unemployment Rate is predicted to surge to 28 percent that doesnt include informal day laborers about 2 thirds of the population or 145000000 people are living in poverty. The nation is dependent on its fast spread to finance its spending in the 12 months to the end of june overseas pakistanis sent back 23000000000. 00 compare that to its exports of just 21000000000 dollars 3rd find out whats behind that stock market surge joining me now from karachi there you could go for you because the chief Investment Officer a karate based faisel funds what do you make of the stock markets then you have does it make any sense well the market is up 56 percent from its low in march or way about their speech and a lot of groundwork that eat so i would say thats come to them in a multiple factors multiple all of the factors that i wanted to get to the surge much better than supply a time you know the debt ratio is increasing right then when it was still dealing with the aftereffects of the whole credit virus locked down to many that its surprising that the stock market would be rising so fast at this point so we have to understand thats part of science and took the Program Last Year and it had started on a path of economic recovery and consolidation and confidence was just about to start at the locals men who were finding it and what happened was the Economic Team here was quick to understand the impact that forward would have liked the economy they were quick to react to words monetary and fiscal stimulus just as in most countries in the globe did quite yet their markets for a 2nd quickly and recover quickly and overall we see the confidence youre not going back thats what locals are primarily for who drove this market are foreigners having next sellers in the market for the past 2 years because they had a lack of focus on the economic stability of the country but i mean for granted and i think that confidence and the locals went on the Violence Free obviously that really started by the central bank by over almost 600. 00 basis points addict it was a fire that. So i would say that prophesied is not such a sweet spot right now for me as ive been next steps for 2 years and that ability to send more is very limited now and the discount to the legion is still dead so its a great time for quantised and to the country again goes out there and i see the markets theyre doing on the spot how key have the interventions by the bank of Pakistan Government being things like you mention the flashing right expanding loans to businesses yes so what happened was men who were 900 the governor of initially was on have some solutions bought by the good do you realise in fact you wont have any started giving some easing in the market space they are serious early on by a very small and are looking dictated by the underlying fundamentals of the economy are going to be the can drive to the linguistic parts and we can see now that he did it at the ready as anybody says because of the foster that it was expected and i think detrimental for us are going back so keeping we were as strong like all keeping an eye you are repeat and the form of exchanges those that were going to drop in before getting the full grant and then i think theyre going to take their jobs why getting back to doing this much needs doing this for the economy and are just the governor i think you have a great team of professionals are going to have that and then this matter what you make of the Prime Ministers handling of the pandemic then. If this is on precedented event and this year this country and most are increased are too. Generic large enough to lock down and then watch florida fox on that its on prescription coverage and it was primarily a lot down with some focus groups marched with those areas where there was a majority a focus of the kids and their active cases here so i would say they were on a con and are there to read and dont also achieving their target which is being disease and those are just him and he had a great team at various levels of the government good decisions and those cities are good decisions because as you can see that fact gratian at a different level of progress that different level and was ordered by being in this epidemic at the early stages so it gives a confidence that the iranian government has the ability being such a big crisis so i would say it hats off to him in a recent interview with al jazeera noncon spoke about the Economic Future being linked to the chinese economy is that a good thing is not a good direction i would say so its a good thing because if you look at history for the past 30 the chinese economy has been growing phenomenally or less and linking yourself to that economy is from an economic standpoint i think its a big move by the government. Unfortunately the best to get offered that kind of growth because its just not there so linking up with china i promise you were keeping on that standpoint it was and we can debate about the finer aspects of growth but thats a separate argument what about the the bell the federal Road Initiative is that delivering for pakistan from those local standpoint i would say it is depicts that this is on the project. So productive as and one Work Initiative is all down for us there and the foods offered are stark. To be off your guard look at the very short down the Software Look at the long dividends that started going to benefit far especially from the early Infrastructure Projects or china set up by fox for the father project to set up there so i think without those projects our g. D. P. Growth path would have been much different and if you look at the overly economic independence its been this is or brings congress together and this one boy and 100 initiative is getting last words that far that within the region we can have better interconnectivity back to comment percentage. The cost of. Being indebted to china which as you know im sure some in the west are warning countries about should be cautious about that just at me so i agree that that depends on the war covance you sign and what bible if you did go on if its a very aggressive dent it can be detrimental to your country but in this case every country chooses that or our new economy growth were stronger than losing debt from china and i dont think look look at the long term in fact of one bad 100 initiative and its not Something Like theyre not going to give us debt and make this draft and that and then use us for that one that is longer initiatives i think its a longer term project and they will not shoot themselves in the 45. 00 compromising and focus on on their projects here so look at it from the song dont respect their life or think this is going to happen and ive gotten by and are all right thing great talking to you thanks so much to cooper thank you. There are warnings the world is on the brink of a hunger pandemic Charity Oxfam says up to 12000. 00 people could starve to death each day because of coronavirus related restrictions in india mounted fishing is already a threat to life and the u. N. Says the pandemic is making that worse elizabeth for has more from new delhi. She did they these relatives have come to her home to comfort the mother of 2 her 5 year old daughter sagna died after having diarrhea she says its because they couldnt afford to feed her while she was sick got the money she. Got the money she died hungry and there was nothing to eat what do we eat there is no work even if i go looking for work there is none. Sagna is just one of nearly 2000 under 5 year olds who die every day in india with malnutrition the underlying cause and the un has warned of more hunger and malnutrition because of the increase in unemployment and poverty during the coronavirus pandemic. The Indian Government says it spending 20000000000. 00 on giving free rides sweetened lentils to 800000000. 00 households but help isnt reaching everyone nongovernment aid organizations continue to fill the gap left by the state of new scientist magazine for 115000000 andean children who are dependent on daily School Lunches are on the verge of malnourishment because of one long School Closure is the n. P. R. Child watson you have been feeding the children the people of this westerly neighborhood for the past 15 years and says its never been as busy as it has this year. Sonia who is pregnant with her 1st child collects free rations with what she feeds herself and her 10 year old nephew saeed her husband has been looking for a job since the factory he used to work in closed. Months ago thought all i needed to tiny good. Weve come to stay at our sister in law was to eat because we didnt have any food at home and the rations have helped us we could eat a little because there were days when we would go to bed hungry situation changes very quickly yet the uns childrens Agency Unicef says addressing malnutrition must remain a priority so much effort going to preventing a marriage in the huge huge numbers of go for it and taking that it doesnt spread more but the same time we should not lose all the efforts made into stopping malnutrition and losing all of the progress that has been made in the last few years. Has she to david the death of her daughter couldnt be more painful her 5 year old son also died from hunger during the economic crisis in india 4 years ago now the warnings are coming in ficken fast with the United Nations saying yemen south sudan and northeastern nigeria as well as democratic republic of congo all facing the 1st famines of the coronavirus era all 4 countries had been in the midst of conflict and food deprived as a the agencies were unable to operate freely a decade of Poverty Reduction in some of the poorest nations is about to be wiped out as the International Monetary fund back in calls from the world bank for creditors to cut that rather than just offering Interest Payment relief the stark warning is come as risk Analysis Firm veriest may for kraft identified 37 nations that face major spikes in arm rest due to painful post pandemic economic recovery and mobile crafts lead economist david willey joins us now good to have you with us so is it too late to stop decades of economic gains evaporating at this point. Yes that the Global Economy has been devastated by the current irish pen demick and wealthy nations are no exception to that were about a month ago we released the results of our recovery capacity index to help our clients understand what that next phase of the recovery looks like looking out into the next few months ahead to 2021 how rapidly do we see countries recovering from the economic slowdown and when we look at just the g 20 kind of uses the 20 largest economies in the world what our data predict is that youre going to see a 2 track recovery emerging so on the one hand countries in western europe in east asia that were initially hardest hit by the pandemic they ultimately had to underwrite underlying resilience thats going to allow them to bounce back relatively quickly from the downturn on the other hand youve got major emerging markets that are now forming the global epicenter of the pandemic these are places like india brazil south africa. Countries that suffered a very severe setback economically from the pandemic and their economies were already growing slowly even before krone virus they are the places where our that say are most at risk stagnating you know long after their peers in western europe and east asia have recovered so quite scary for those developing countries what about the debt burden how does that fine through into the outlook specially for allowing come countries yes so debt doesnt play a direct input into our assessment of recovery capacity but it is a significant follow on risk factor for some and it threatens to be exacerbated by these attentional prolonged period of economic slowdown so were expecting to see lowing come countries. Reversing gains in