Transcripts For ALJAZ Counting The Cost 20220907 : vimarsana

ALJAZ Counting The Cost September 7, 2022

Without zera, these are our top stories. The United Nation says there is credible evidence that moscow is forcibly taking ukrainian children into russia to be adopted, and that thousands of other ukrainians are also being forcibly deported from russian occupied areas. Us as these actions amount to war crimes. Russian president Vladimir Putin has the accused ukraine of cheating, developing countries out of grain shipments by sending them to the e. U instead. But last week, a ship carrying 23000 tons of ukrainian grain arrived in east africa. This is also said western sanctions have backfired and now threatened the whole world is full. So newly her because of the sanctions from the west have been an aggressive attempt to get other countries to follow certain models. There are questions around sovereignty and subordinating to their will. These are policies which have been carried out for decades, but theres been slipping away of us domination. We havent been able to see the objective facts. If we look at recent times, the entire system of International Relations is going through tectonic changes a little you as nuclear, what stock says it cant verify Irans Nuclear program is exclusively for peaceful purposes. An unpublished iaa report finds the countries stockpiles of highly enriched uranium have grown, and theres still questions about 3 undeclared sites. Around for a ministry has strongly condemned albanians decision to cut diplomatic ties with to run earlier. Albania is government ordered iranian diplomats, and Embassy Staff to leave the country within 24 hours. He was also weighed in saying investigation, found a run responsible for an attack on albanian Government Services and websites in july. But hes in canada. Have a rest of miles. Sanderson, the suspect, who has been on the run after a mass stopping it, was found and taken into custody. Near ross turn in saskatchewan, 10 people were killed and at least 18 others injured on sunday. And brazil is marking 200 years of independence from portugal. But critics accused president jerbill scenario of turning the occasion into a campaign event. Both morrow is attending parades and military demonstrations. Those are your headlines. Ill be back with more news here on al jazeera after counting the cost. Beneath the surface lies a dock aside in british politics. Im exclusive al jazeera investigation coming soon. I with hello, im molly inside. This is counting the cost and al jazeera this week. Unprecedented flooding and pakistan has left more than 1100 people dead and has displaced millions. The government estimates damages of at least 10000000000. 00 a blow to the already struggling economy. The race for the arctic Global Warming is causing ice sheets to shrink opening up new shipping lanes and access to vast Energy Resources that has increased geopolitical tensions as well. Power try to tap into the regions economic potential. Also this week, Microsoft Partners with catalog to launch a global data center, the fust in the region to develop digital capabilities and support innovation across industries. Stay with us as we look at the world of business and economics. Ah, we begin in pakistan, the most devastating flooding and decades has left one 3rd of the country underwater and affected at least 33000000 people. Entire villages, all submerged roads, bridges, and Railway Lines happen washed away. And farm lands have been destroyed, displays pakistani need food and water on the threat of water born diseases is growing. Well, the government says it could take up to 10 years for pakistan to rebuild and repair its infrastructure. The planning minister says preliminary assessments suggest losses, of least 10000000000. 00 at a time when the economy is already struggling. More than 80000000 hexes of crops happen destroyed. Agriculture is the biggest sector and contributes about 23 percent to pakistan. G d. P. Rivers have bus their banks and dams have overflowed, damaging more than 3400 kilometers of road Railway Tracks and bridges. As well as home schools and clinics. They invest, dropping as this report from the village and sin province. One of the hardest hit regions, the. 6 this is the faith of hunger. To describe what is happening here as desperation. Trivializes the extent of the suffering the we spoke the 1st on as she was headed into the fray. She says she had no choice. And who do go to the houses have fallen down . Dont have changed. We cant shade our children from the sun. Now houses have been submerged. I swear to god, there is nothing. Li will our belongings have been washed away . We poor children sick. They are just sitting there. Senior Army Officers leading this relief operation, tell us their orders are use a light touch, help everyone. But making sure the weakest in the crowd, women, children, the sick and elderly dont get pushed to the back of the long. Often requires for the the armies arrived at this village, this much needed humanitarian supplies. Food mostly. And theres been a scramble at the supply truck because people here know that there is not enough for everyone. But they are still the lucky ones here across the way, where the road has been completely washed away, or people cut off from other villages. And they are just hoping that someone is able to swim some supplies over to them. Who is the most deserving. Who should go 1st . Seems to be an impossible decision. I know we, but if any but my gentlemen that there is no reason to worry, god willing it will and well get something. Okay. Calmly wait, your turn and every one will get help. Reassurances bring peace, but only briefly about as the trucks begin to empty, panic returns and people jump the queue once again. That survivors say not to do, sir, is to choose death if they dont good food will just a duck and die. What else can we do . I dont have any bread. I dont have any water. All the children are starving. Bringing order to the chaos caused by floods is an unenviable task. And one that is only just begun to take a more in depth look at the consequences of the floods on the pakistani economy on join now from some a bond by im a b khan who is the group chief risk officer at conduct puck don, financial services, thank you for your time sir. Pocket stones planning minister said this week that early estimates put the damage from the floods at more than 10000000000. 00. If that estimate is correct, how devastating a blow is that for its economy. So it is a fairly early estimate. We expect something around 20. 00 to 25000000000. 00 to be the total economic cost. Once the water receipts once that does settled and we can really see what really happened right now, whats happening is because the rules and the infrastructure is on broken lock track saw send them baluchistan, which are the hardest ones that are underwater. Its not even possible to take relief, the hardest areas, so it will take time before we truly understand the gravity of the situation and the economic costs. If we have to assign a number toward, i would say needs to be at least 20000000000. 00. If not more so double that estimate. We know the agriculture makes up 23 percent share of the countries g, d p. More than 80000000 hectic has already been destroyed, of onions, tomatoes, right, other crops. What kind of impact is not likely to have that is going to a fairly massive impact on economy growth, as well as one of the inflation and more importantly for security. Now whats happening here is the rain struck sand, which basically wasnt growing at this point in time, right . And gotten no rise. We had a major export of up, right . So whats going to happen is we wont be able to export, right . They will actually be a shortage of rise in the country, so that would lead to increase in 5 years. Right. Similarly, a lot of condiments and budget tables fail also been just trying to, including announce tomatoes, which are essentially staple goods. Means higher prices for them, prizes for to meet or the onions have increased more than 100 percent or the last few days. Because the infrastructure is broke in the supply chains are broken. Its not possible to take which tables from one point of the country to another. Thats why the government is really focusing on in opening create with india so that we can import these essentially the stables. Let me pick you up on that, that point about importing because pakistans economy was already struggling with a huge current account deficit, high inflation because of over reliance on imports. And now as you say with so much of the food destroy, theyre going to have to import more. This couldnt have come at a worse time. Could it for the countries finances . That is correct. This is possibly the worst time. The major will actually happened on the day when im, if program got through. So were looking at additional deficits around 5. 00 to 6000000000. 00 in addition to the deaf in the back or there earlier. Because i said earlier, we wont be exporting a lot either. Right. But we will have to import additional food as well. So the balance of payments is going to be lately only a few hours, but we have the finance minister coming live one tv that be may go to the i am if i game for another. And we didnt the facility so that we can bring the different search required for in boarding food. The i m f has agreed to give pockets, don, as you say, the lifeline of about just over a 1000000000. 00. If they hadnt received this tron ship money, was there a real concern that the country might even default . No, it wouldnt have resulted in a different because for a default to happen, you need to, lets not be able to pay money or pay back the bond or excel and debt or bias on a has sufficient fund order card places to ensure that it is able to pay extra credit, but that would have meant massive was dirty and boxed on which would have made significantly higher prices of food and Everything Else and even rationing. We talked about the short term need. Things like food shelter, but they are, of course, the long term needs. Once the floods go away, the rebuilding infrastructure. I mean, what kind of costs are we talking about . Were looking at massive cost. Sure. Just a rough estimate. Were looking at at least 3. 00 to 4000000000. 00 for just revamping the road network and building all the bridges been destroyed. So that 4000000000. 00 of public capital, public money that needs to be re invested to go back to a base. Similarly, about a 1000000 houses have been destroyed for me are partially of that. Those roughly 700000 houses arent sending. So we estimated roughly 6. 00 to 7000000000. 00 of just reconstruction costs. That would be from private gap or not. These are people who are already fairly below the forwarding language them and they have seen belie, have seen the crop for the year, completely going to really. So there is a severe capital crisis as well as the private capital does not exist. Really rebuttal and thats where the government is also going to step in android. Some kind of facility to enable or support rebuild involve houses. Infrastructure focused on suffered from similar, devastating floods back in 2010. Were any Lessons Learned from that disaster . Sadly, know that since were not from that disaster, we are still building houses, theyre still building somewhere. So stablish minutes on riverbank were still building been doing construction in our growing running. So there is a survey, i would say, lack of compliance with building board with infrastructure guidelines, which are actually leads to such a law says when really, really interesting to talk to her being con, group chief risk officer carn does pockets on financial services. Thank you. Thank you. The now we go to the north pole, a country border, the arctic circle, and many that territorial was, is an exclusive Economic Zones overlap. Its harsh climate has been a natural barrier, but with the effects of Climate Change, warmer temperatures have made the region more accessible and that is opening up a new front line in the battle for Natural Resources and maritime trade routes estimates varied, but about 15 percent of the wealth, untapped crude oil and fed if its undiscovered, gas is hidden below the surface. And as i sheets melts, theyre presenting opportunities for Energy Companies to explore oil and gas reserves with trillions of dollars. The arctic is a major source of Mineral Deposits vital to developments in science and technology. Read elements the used in smart phones and computer hard drives. While Platinum Group metals like palladium have medical applications and i use in the manufacture of Electronics Like catalytic converters on the icy water. The rich in plankton and fish stocks, the art to coastal states, china. Im the you signed a tracy last year to prevent unregulated fishing in 2800000 square kilometers of international waters. It aims to ensure that future fisheries in the central arctic ocean will operate sustainably. The northernmost region of the planet is warming up 4 times faster than the rest of the world. And far more quickly than scientists had predicted. Reset shows nearly 60 percent of the polar ice cap has disappeared in the past 40 years. This is opening up the Northwest Passage as a short cut for shipping between europe and asia. Joining me now from the city of prom, sir in no way is mad christopher dixon. Math is the executive director at the arctic economic council, which is an independent organization which represents industries in the arctic region. Thank you for joining us. Mads not the arctic is quite different from other parts of the world. Many people might not be familiar with. It can you tell us about economy . What does it involve . Traditionally, there are 2 region has been, you know, a place for tourist shipping for many years and, and fishing, but, but its also, its changing. Its changing a lot this year. We have bird school farming. Satellite companies are looking north bio innovation, but overall you can say the arctic region is the region of opportunities for many, many countries in the world are struggling with the energy needs at the moment. So how have the Global Demand for Energy Resources impacted your economy . People are definitely looking knowles for many reasons, but also for energy reasons. Traditionally, we had the, i mean, this region has been and 11 way or another Energy Export or from any years. But in, in the past 50 years, its mainly been oil and gas and youll have it in alaska, youll have it in no, no way. And of course, also russia, russia is heavily dependent on, on, on the oil and gas being the dues, and l n g being produced in the arctic region. But let me say is its also else i thought the Energy Sources else have renewable in nets like your thermal in iceland, women, finland hydro, in norway and even solar panels in small communities. But energy is, stephanie, is a big employer in the region, and its, it has a big Economic Impact for the communities there. You mentioned russia, russia, the rich resources you are talking about have drawn rival countries like the u. S. Russia and china to compete for Strategic Influence in the arctic. Is this a good thing or a bad thing for the optics local economy . I mean, more attention is always good for small regions, so we are massive region when it comes to land mass, but were just for 1000000 people. So the reason has for many a in a post, a bar for Climate Change until political challenges and, and now we also start seeing it isnt coming up. But unities as i mentioned, like energy and fish and is also a home for many people. So people will like investments, people who are like investments and infrastructure. And this attention that we see from countries like india, china, japan, etc. Thats a positive interest. 60 percent of the polar ice cap has disappeared in the past 40 years, which has opened up things like the Northwest Passage, which is this short cut 1st shipping between europe and asia. How beneficial is that going to be . I mean the people lo, supposed living in dock, so were really the 1st to see and experience the problem of Climate Change. A recent report for some years back showed that Global Warming happens of 3 times the speed and arctic. And now most recent news is even full times and someplace its even 7 times the global average. It has some opportunities in it, but also a lot of challenges that challenges are like permafrost, routing infrastructures, new with hurting drones for indigenous communities. But some of the opportunities is, as you mentioned, new shipping routes or new fishing areas. So what we have to be aware is we have to find the balance between, you know, responsible and sustainable development. And we also have to remember that the global melting of place here in the north also affects the rest of the world. It does indeed. So what can be done to stop this damage and what is being done about it . A lot is being done. I think the most important thing is we dont stop punishing the people in the arctic. Those form of the people are not emitting all the seo tool that it causes this Climate Change. But we definitely feel the impact. Looking at the positives, i think we should look at like developmental hydrogen. So through dr. Region companies, i investing in hydrogen because we have a lot of renewable energy. You can also see Companies Investing in battery production for electric vehicles. So we have to start looking a new technologies, we have to do some kind of energy translation. And also we also have to look at Climate Mitigation for those communities affect the, the Climate Change. How is the arctic going to be able to help with the man for food . Im very glad you bring this up because i really think this is a perfect opportunity for the arctic today. Only 7 percent of the worlds protein intake comes

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