Transcripts For ALJAZ Counting The Cost 20240711

Despite this assassination. He said that this will only increase the will, and the determination of it wane in scientists down the line. And that factor is that they will be replaced, and his replacements will work even harder to try and make up for the fact that he has been assassinated. Hundreds of police and paramilitary personnel have been deployed to control protesting farmers in and around indias capital. Thousands are rallying against new laws. They say could take away their livelihoods. Per annum, has more from the protests at the single crossing. The pharmacist saying that the 1st round of talks didnt lead anywhere. They dont trust the government, they want the government to ensure that a guaranteed minimum price for their projects. Thats what is at the heart of the standoff between the government and the farmers. They want the government to guarantee a minimum price, the government will not write that into nation. And so the fama say that they will continue with their protests, whether they are allowed or not. And out until the government repealed the rules. Heres Justice Department number of federal executions as joe biden moves closer to taking office. Its also cleared the way for the use of poison gas and firing squads. For French Police officers of being detained after a video emerged, showing them b. C. A black music producer present. Emanuel has called the incident unacceptable and more than 100. 00 cuban artists have protested outside the culture, ministry in havana against what they say is a state crackdown on dissent. A demonstration came after police broke up, another Group Holding a hunger strike, calling for the release of a jailed with the headlines. More news on aljazeera after counting the cost. The American People have finally spoken about our more dangerous world is looking with the election behind us, the Republican Party dumptruck us politics and thats the bottom line. Hello, im sam is a band. This is counting the cost on aljazeera. Your look at the world of business in economics this week, president xi extends his grip across china and hong kong. Taiwan could be next. As beijing expands, its navy and trains missiles on the country. What will the u. S. Response be . Also this week, a failed decades old policy of unfettered, free Market Economics want next for a chilly day, as the people redefined the economy to eliminate inequality, class tax. The rich argentina starts a debate on who should pay for the pandemic before the question. Many countries are starting to ponder. China is tightening its grip on hong kong new laws imposed by beijing disqualified for lawmakers for being unpatriotic. That prompted 14 prodemocracy lawmakers to quit as president. She is consolidating his power, scrapping a 2 term president ial limit. Hes crushed voices opposed to him and has taken a firmer grip on the autonomous region of detaining millions of wiggers in hundreds of internment camps. And she may not be done yet, is next focus could be the island nation of taiwan, which it claims as its own territory. She has gone as far as saying its an inevitable requirement for the historical, rejuvenating the, the chinese nation. But just how feasible is this, and according to the south china morning, post china has deployed its most advanced hypersonic missiles to its south east coast as it prepares for a possible invasion. Thats because taiwans president saying, when has refused to accept the one china principle, its moved more marines closer to taiwan and held invasion drills. Despite the pandemic, china has increased its military spending by 6. 6 percent this year, as it sees every increasing threats. China has built the worlds biggest navy, a fleet of 350. 00 warships to stake its claim to the south china sea. Thats raising concerns in washington, which is pledging to counter and expand its warship fleet from 2932350 5. President trump, for his part agreed last chance to sell a 100 harpoon antiship lascelles worth 2400000000. 00 to taiwan. But also sold one point 8000000000. 00 worth of land attack mobile missiles. Its all part of taiwans hedgehog strategy to resist an invasion. President elect joe biden hasnt expressed a view on taiwan yet, but he has assured japan the u. S. Would help defend the disputed senkaku islands, which beijing claims to the Trump Administration has signed a 5 Year Economic deal with taiwan. Despite objections from china, the deal falls short of a full blown trade deal. Well, joining me now from singapore is in chongqing. Hes the associate professor of Political Science at the National University of singapore. Good to have you with us. So chinas being quite assertive when it comes to hong kong, when it comes to the we will taiwan be next. Might it be facing an invasion . I think an invasion is probably a bit bit far off at this point in time, but certainly will be putting on more pressure on taiwan. Weve been seeing increased military activity an increase in the frequency of flights, milledge, of military aircraft in the, in one sort of balance air Defense Identification Zone and also around taiwan crossing the median line. These are efforts, i think, to put more pressure on taiwan to suggest to its government and people that they should not behave in ways that the p. R. C. Doesnt like. Has china legal, the ability right now to do an invasion if it wanted to some point to things like the number of Landing Craft and say in my view, one thing to point the missiles and fly more across all the key components. Im missing, right . So an all out invasion, i think its going to be challenging. Its going to be challenging for several reasons. One of course, is the logistical capability of lining crop of aircraft to support an invasion force is, of course, the weather and the time straight to the seas that can be a bit unpredictable. Getting large amounts of people and material across can be a bit tricky. And of course, crossing that expensive want to would mean that, you know, these vessels could be picked up from the town on site. So theres a high amount of risk. I dont think its that feasible for china to do at this moment because an invasion is, i think quite an extreme measure though lots of, of the course of measures that china can possibly take that dont get into the asian territory. However, much more assertive beijing months to be taiwan would be much of an international backlash. So i think it depends on how the clash happens. If beijing engine has a situation where it looks like the townies side is being really egregious or excessive, then perhaps theyll be less of a backlash. Or if the chinese side does something that is on its own accord, that is highly unacceptable. And the eyes of the international community, meaning to say that if you know, actually decided that it wanted to decline depends right away that it wanted to act in ways that provoke the p. R. C. Actively without, without you know, having reason to do so. But short of those, and i think those are very unlikely scenarios because taiwan has a leadership that is pretty common. Know what its doing. So in that sense, that whatever response to trying to caution, especially if it gets increase of his, hes excessive. I think that would be a Mortgage National backlash. How much of it would there be whether that has an effect on changing chinas course of action, i think remains to be seen. But i think in general, there is going to be a lot more resistance and happiness to a chinese excessiveness, but we havent seen the u. S. President like joe biden take a position yet on taiwan. Why . I think what weve seen him do is to talk about his, its proxies in terms of people who lincoln, who was the presumptive secretary of state, talk about increasing ties and improving relations with taiwan. So presumably that is reflective of his position. The reason why President Biden elect biden himself has not come across, i suppose, is because he does not think that the taiwan issue needs to be put on a priority. It doesnt have to be, but at the focus of u. S. Foreign relations right now. And of course, we also know that his focus is his declared focus is on the pandemic. Its on fixing the u. S. Economy. So he probably doesnt want other issues. Going to include it to get in the way of that primary agenda. While weve seen taiwanese buying more u. S. Weapons, president from giving taiwan these critical weapons. This is all polly guess of taiwans hedgehog strategy and perhaps trying to get as much as they can out of the current u. S. Administration. So the talent side has been trying to increase its defensive capability for while this current tranche of weapons sales. And you know, its, its come at a time where china has been faced, facing increasing pressure from china. I mentioned the military activity from the chinese side. So in that sense, it makes its, you know, its quite clear that the tolerance i would want to up its ability to be a hedgehog, to be able to at least impose costs that are pretty heavy on china. Should china choose to be well rested . I mean, the whole idea of all for the tell inside is to make an invasion, make any sort of course of attempt difficult. Theres always going to be an element of doubt in the minds of the chinese dissing me because that would cause them to hold back. Right. So this current round of sales, you know, feeds into that strategy. Given the fact that china has upped the ante on its on its side. So its surprising the u. S. Is selling weapons to taiwan, yet the u. S. Still doesnt have a full blown trade deal with taiwan. I think this gets him pot to the administrations general reticence and sensitivity to, you know, opening up mall more trade deals. So actually for the trauma administration, this is already, i think, pretty significant step. Right. Its not some done through with new trade deals. Its renegotiated existing ones, so thats on the trump ministrations on the other. I think theres also recognition that the u. S. Public is not as ready to be more open economically at this point in time. So i think in terms of the economic relationship with time on that trade arrangement is probably as far as feasible, what Outgoing Administration goes as far as probably the u. S. Public can stomach. Well, the time being, of course, taiwan is still very interested in getting a free trade agreement, and i suppose those negotiations will continue, and we may see something later down the line in the biden, in this region, or has been good talking to you. Thanks so much. Thank you. It all began with students protesting about a hike in metro fares, but its mushroomed into something much bigger long before Ronald Reagan and margaret thatcher, chile was a test bed for unfettered free Market Economics or neo liberalism under the right wing dictatorship of augusto pinochet. That experiment in the 1970 s. Was continued by democratic governments from 990 to the present day. Pinochets rule was an economic failure posted to ship the economy has performed better than its neighbors, but it has failed to address inequality, access to pensions, health care and education were left to the free market. The people finally got to vote on the constitution, the outcome, a landslide, to scrap the charter in favor of more Government Intervention in the state. So what now . Well, theres a long way to go before the people of chile see any change or joining me now via skype from london is latin america economist at capital economics. Good to have you with us. So chill, theres been this 6 steps, success rather story for developing countries for so long. Whats gone wrong . Well, i think if you look at chile over the last few decades its, its been a regional performer in latin america in aggregate sounds. But i think one of the issues is that, and all of the citizens of have enjoyed those gains in the economy. I think there was a sense among many of the citizens that the benefits only went to those of the top. And thats why we saw those mass protests last year calling to reduce inequality and provide better Public Welfare provisions for things like education and health care. So i think even though in aggregate the economys done well, possibly those towards the bottom end of the distribution havent been able to enjoy as much. So when you look at those people on the streets, as you said, that basically does that vindicate what economists like. Joseph stiglitz have been saying that neo liberalism has undermined democracy for the last 40 years that trickle down economics hasnt worked. I think it depends on whether we look at an absolute or relative sense. I mean, im not sure those have moved out of poverty over the last 40 years, but these, you know, theyre both free market principles because the economy was growing fairly well. And so most people are in a better position than they were say, 40 years ago. But if you look at overdose of sense, then income inequality has widened and theres a feeling amongst those at the bottom that have seen others and their wealth and income massively escalate. Whereas in a right, if sense, those so the average person, its maybe not increased as much. So i dont think its necessarily fair to say that, you know, liberalism has just totally fail is probably just been more of a case that it hasnt done enough in insurance to certain benefit. Everyone right now it is a long process of changing the constitution. Right . Yeah, so theres still a long way to go. So we had the referendum last month where she lands voted to have a new constitution. As part of that vote, they are also elected to have their new constitution drafted by a constituent assembly nor citizens, rather than a mix of citizens and current politicians. And that constituent assembly will be elected in april. And that assembly will then have to draft a new constitution and there have to be a 2 thirds guarantee for any clause that goes in to a new constitution. And that process will take about a year, and then the new charter will be put to another referendum in 2022 for the people to vote. And its only at that stage where there may be a new political system in chile. So were looking at years before we know exactly what the people want, those then thing on the horizon that we can say, thats probably one of the changes thats going to be introduced. I think the main thing we could see is a shift towards greater state intervention in the economy. Ok. Money that was modeled on tensions education, health care . Yeah, exactly. So a lot of the protests that we saw last year. d were calling for things better, Public Welfare provision for health care, education, pensions, and it looks like the state level papers are all in or 3 parts of it in all of those sectors. You know, and that could be a positive for the economy. I think for education and health care in particular, if it means that theres more good quality and widespread provision of health care, energy cation that could boost the potential of the economy if it means that theres a more, more knowledgeable, more educated and healthier workforce. But there is, there is, of course, a risk that the state sector goes too far. And if they venture into other areas of the economy where this, perhaps a better left to the private sector, theres a risk they could crowd out of the more productive private sector. So at this stage, its probably too early to say whether that be a good or a bad thing for the economy. So was about finding the balance is no, well, there will be any need for spending to increase, right . But the government does have some room to maneuver right, with debt 30 percent of g. D. P. One thing that she hasnt favor is that its deposition is very low, especially compared to others in latin america. And so weve already seen a minox quite substantial stimulus during the crown of us and ek, but about 12 percent of g. D. P. On things like wage subsidy schemes, for example. And it looks like and the latest budget have said that theyre going to continue keeping spending fairly high over the next few years to try and stimulate the economy. Because there, the public finances came into a crisis in pretty good shape. All right, thanks so much for your thoughts and the mouses on that may kill that. Thank you. Argentinas congress is debating a bill seeking to raise billions of dollars from the super rich, but one off taxes meant support families whove been hit hard by the pandemic. Todays about reports from want to silence argentinas tax by and how it should be sliced and made an economic crisis has become food for lively discussion in one of cite us. And now for the 1st time deputies are set to debate imposing a wealth tax on arjun times who have over 2000000. 00 in assets, thousands took to the streets outside congress to show support for the new tax and the government. If i were the fundamentalists, it was as if we are seeing a very delicate situation in argentina with people struggling to find food, people who have lost their jobs. So imposing a tax on wealth is necessary to the tax under discussion would amount to 2 percent for individuals with assets worth more than 2500000. 00 and scale up to us, much as 525. 00 old from wealthy Citizens Holding their fortunes outside the country. Argentina is desperate for funds as they coronavirus than democrats had a devastated impact in the economy. Poverty rates are close to 50 percent, but commercial chambres in the country warning that a wealth tax in this context could have an impact on potential investors who already see the country as negative for business. Several nationals are fleeing the south american nation, claiming that doing business in argentina is complicated and unprofitable volatile politics, price and currency controls and state interventionism are part of doing business. Here the law is being debated as argentina begins discussing with the i. M. F. How to play over 40000000000. 00 in debt or says the opposition will vote against this kind of taxes per recession. Its not a tax that will promote investment. On the contrary, the problem is how this tax is being discussed and the public protests by the government, which its a climate against business, there was no discussion. The only intention is to show that they are champions of the poor when they are getting into the austerity measures demanded by the i. M. F. And the us. But president of the, for member said the new tax is meant to aid public coffers to cope with a pandemic of funding that we are living in terms of where solidarity years to be the role in congress. We see the debate on world tax. What is being debated is whether those who have more can express in terms of him agency in solidarity with the rest of the country. These are difficult times for argentina, years of recession and inflation, and the impact of the pandemic have left millions in need finding balance between providing aid and stabilizing the economy is seen as crucial to help the country leave its economic troubles behind. As the promise of vaccines sends stocks to record highs, some governments are already thinking about how theyre going to pay for the cost of the pandemic. But is it premature when the recovery isnt expected to kick in until late 2021 at best . Lets get some analysis from jamil, afterward, director of investment strategy, a german fin, tech company, nagger. Good to have you with us. So governments are looking at a range of things from like tax increases to austerity measures. Is this the right thing to do . You think . Absolutely not look too many livelihoods have been impacted by this without stupid jobs, like ones, other unfortunate circumstances from this pandemic. And even by lots of governments, it comes now except we are still in the early stages of the contents of the economic rescue plan. So it would be very premature to be moving any kind of out of this money. But to me, let me jump in and be the devils advocate for these governments. If theyve got bills to pay, theyve got bills to pay. What are they supposed to do . So Government Center thats stuck between a hockey rink going to have place because if they kick the can down the road, it could be impacting future generations. For example, thats millions of millions of people. Young school, kids who have not been at school for many months and they do not want them to be impacted potentially 10 years, not at the same time. One that is hundreds of millions of people who are still going through forms of patches from this economic a personal, actually its insensitive to be doing this now. And the vaccine has not been approved yet, nor has it been rolled out distributed, and prove that its going to work for a mass amount of people globally. So what the Government Centered have to do. And whats happening right now is that hands are tied around for folks because jet debt to g. D. P. Has increased to 362 percent this year. Just to give some figures im not done. But if stocks this year and around 320 percent, so over the past 9 months, 10 months, its grown in some times to be and other government such as not to get into them, have not spent this much money into governments. Since wartime. Civil talking about, the early and mid 1940, s. And yet this economy specifically the u. K. Its still the worst impacted by this pandemic across all industrial and g 7 nations that give some kind of appetite towards what this style. And that has been the big problem. But essentially it until we get back to a recovery that has a flat road, we know the vaccine works. We know that things can slowly, slowly and gradually get back to normal because the moment weve got done, weve gone and weve had a triple like situation. Essentially, until we get on a straight road, we dont know how successful this is going to be, and thats why we have to get back on before we can decide to say how were going to begin to pay that money back. Of course that has to be paid back is correct conversation, but its not a solution that has to be so today. So i think a of a, of all the i. M. F. Is saying theyre saying wait until the, the recovery becomes really well established. Id definitely do not only the i. M. F. , but on the world Central Banks to what the i meant to suggest that this pace of recovery is going to be uneven. Its not the kind of narrative to say that every economy is going to go through different situations such as they have already, and i doubt it. But the Federal Reserve chair, which is the u. S. Central bank drew. Its going to say that when theres a condom, it does get back on to an even folks in the normal will be different to what it was before and listen to be a huge group of people which includes employees isnt of course the business. This is also going to include many sectors that are going to continue to need support, and that means by support. They need to have more government aid money to help more stimulus the needs and most interesting measures. And actually the nudge in the direction right now is that government still has a influential role to play, to do mole a buddha for the economies to get back. Because one of the lessons from the Global Financial crisis, i know we dont talk about some of it was 13 years ago. But one of the lessons was that actually the governments that got me fast enough, thats why the recovery took as long as 10 years or so. We were still talking about it even before this pandemic. Now this pandemic, we might get, a hoot by 2021 and some sort of x. E. , but we certainly do not want to be talking about it 5 years or so from now, which is why for the next one, yet the support has to remain in place. Hopefully by 2020 to 2023, and action packed and then be put into place as well. So how to get this debt issue back under some sort of sustained i could show it to about 2020 to 2023, the readies bump a vaccines have been approved yet. Other markets getting ahead of themselves and all this optimism. I said prices are always the 1st things to price stuff again very early and im going to use that comment. The i. M. F. It may just recently disconnect between asset prices just basically means Global Markets and the real economy is tremendous. Its even larger now than it already was that we can have this year. And thats where we were before there was a big discrepancy based essentially markets believe that destruction going to be approved in days and weeks and ill be fingers crossed. Thats to be the case. But i also believe that things are going to be very, very quickly. Listen to be a certain recovery, but you also felt the same thing at the beginning of the 1st wave of we were in that interim period. Megan, where things were starting to be reopened up. But that they did not take into account that would have to step back and that would rock restrictions to come into place once again. So thats a place thats a prices always do this, but it does not mean that the economy is justified and the right place the disconnect is tremendous. All right, always good to have you. Thanks so much to me and thank you. And thats our show for this waiver. Remember, you can get in touch with us via twitter, use the hash tag, a. J. C. T. C. When you do more drama, say about counting, the cost about is there. I dont know is our address. Theres more for you on line of aljazeera dot com slash the thing, say, it will take you straight to our page, which has individual reports, links and entire episodes for you to catch up on. Thats it for this edition of counting the cost time samis. They banned from the whole team. Here for now its goodbye news. And ill just say is that from the aljazeera london bureau, catherine 2. Special guests in conversation. When you say a lie a 1000000 times, that becomes the fact. You then can create whatever narrative you want, unprompted uninterrupted, and i realized i was working for something that was evil, you know, being a part of our recreating our maria ressa meets christopher wiley. The death of journalism is only the 1st signal for the death of democracy studio to be unscripted on aljazeera, rumania, ancient forests. Some of europes most pristine. There are crucial for our society. A crucial fall battle against the climate crisis, but illegal logging by a ruthless timber mafia is destroying both the landscape and peoples lives. Being in the main, there is no water, there are bunks violence filling with the goals, amidst claims of corruption and the role of powerful multinationals. People in power investigates, rumania, break into the forest. On aljazeera, the arab aljazeera fully backed evil in doha. This is the news hour on aljazeera coming up. In the next 60 minutes, irans Supreme Leader vows to retaliate against the killing of a Top Nuclear Scientist gunned down near tehran on friday. Thousands of farmers protest in and around indias capital for a 3rd day, fearing new laws will leave them at the mercy of big corporations. Also this hour, the u. S. Justice department revises how death sentences