the potential for some systemic banking crisis which people hadn't even been considering as they were looking at the stock selloff they just thought there was a stock market sell off they didn't think it was connected necessarily to any problems in the banking sector but he's raised this question at this time when all sorts of other factors are involved too with the stock market sell off and it's how these are all the disastrous consequences at least in the short term obviously the president's not going to be happy with the law says how he is he was felt it was funny though he did just tweet he said the following the only problem our economy has is the fed they don't have a feel for the markets they don't understand necessary trade wars or strong dollars or even democrat shutdowns over borders the fed is like a powerful goal for who called score because he has no touch he comes pumped i mean i was going to help either because one of the big uncertainties as well is fear is that donald trump will attempt to fire the federal reserve chief jerome powell even the reassurances that we got from administrative officials over the weekend didn't

do much to reassure people because they sort of confirms that all trump is indeed mulling over whether to fire the fed reserve something that no one else of a dumb or other president has ever done it's a bit of a legal gray area but would confirm the uncertainty that the markets dislike so much though although you know in tweeted that trump doesn't have any intention of firing firing drone paul but this discussion seems to go on and clearly donald trump still has this hostility to drone pow i think right now that you're right maybe maybe it's been neutral position that might be the most in doubt of the moment all right she had life there in washington d.c. following that story for us thank you. i still ahead soln the program the ball coming out over syria intensifies as the pentagon gets the greed like the u.s. troop withdrawal plus. we visit a rescue center in nairobi that's trying to tackle kenya's growing problem of homeless children.

hello there is mostly dry for many of us in china at the moment there is a good deal of cloud though across many parts and that will gradually thicken up as we head through into wednesday and then more of us will see some rain so it will be mostly over the you bay province up through and he and into shanghai where we see the wet weather i want to outbreaks could turn out to be a little bit lively to the south of all of that they were it's fine enjoy for us in hong kong but then the cloud starts as you head for the south still and for the east so force in taiwan we can expect a fair few showers as we head across towards the west it's over parts of sure lanka and the southern tip of india where we've got the majority of the showers at the moment and further north it's fine and dry it's also a little bit foggy now because the temperature is easing off so we've had a few problems in new delhi it has caused a few problems it with the traffic there's been a few piled up so we've also had

a problem with the travel as well it's caused quite a few delays out of that as weather is going to stick around as we head through the next few days a top temperature in new delhi just of nineteen degrees for the south those shells will be continuing as well so sure lanka and the southern parts of india are likely to see more wet weather out towards the west and for the arabian peninsula it's fairly cool for us here in doha maximum temperature on tuesday is twenty three. on counting the cost two thousand and eighty the year the u.s. and china by trade tariff poca gregg's it confused everyone and opec will review the year that was as new dynamics to shaping the global economy. counting the cost on the.

al-jazeera. and for you all. and again undermines of the top stories here on al-jazeera at least three hundred seventy three people have been confirmed dead after tsunami struck parts of indonesia without warning on saturday rescue teams are racing to find survivors on the islands of java and sumatra as experts warn more tsunamis could hit in the coming days. pakistan's former prime minister now is sharif has been sentenced to seven years in jail and fined twenty five million dollars off being found guilty of corruption sharif denies the charges and says they are politically motivated. u.s.

president donald trump has blasted the country's central bank saying over twitter that the federal reserve is the only problem with the u.s. economy all street shares have fallen for a fourth day with investors worried about rising interest rates and a partial government shutdown. u.s. military officials are heading to turkey to meet the turkish counterparts and discuss coordination on syria following the u.s. surprise withdrawal from the country where it has backed the syrian coast y p g forces against eisel a spokesman for the turkish president says turkey will not let up in the fight against eisel and i will work closely with the syrian ally russia in the war torn country. why are we in syria to restore freedom to our brothers kurds and turks not just to eradicate the cherished organizations and not to the syrian arab see in the grips of beisel will not leave the arabs in syria and the injustice of the units of the p.k. k.

will not leave our brothers at the mercy of these terrorist organizations. so the pentagon has given the green light signing off on the withdrawal of u.s. military from northern syria it followed that conversation between the turkish president and president donald trump on the phone. someday trump says i don't want to short him he will eradicate whatever is left of my soul in syria as a new harder. it's thirty percent of syria's territory that can tip the balance of power the north east was america's zone of influence in this divided country it will soon pull out its forces about having longtime allies to wipe e.g. the syrian kurdish are group. truck decision force. not only to see if. there's. a closer relationship with russia.

under the syrian government that's because the white b.g. dominated syrian democratic forces is reaching out to the syrian government and russia the main power broker in syria to prevent a possible turkish military offensive or takeover of territory the us has said it is going to coordinate its pull out with turkey a signal that turkish troops or its local allies will move in there is a new relationship between the nato allies after years of disagreement over syria but the warming of ties is testing russian turkish cooperation u.s. withdrawal from from syria and that puts at risk relations between russia and turkey because if that states and turkey managed to reach the deal on syrian kurds in some way or another that puts at risk. russia turkey.

agreements on it or russia's plans on how to use it also. it's not clear how turkey will further behave itself in austin the format. russia turkey and iran have been closely working together on syria within what is known as the last in a format over the years the us has repeatedly tried to pull away from that alliance if the u.s. hands over the area to turkey it will not be good for iran so now turkey will be on a collision course with iran. the u.s. decision to withdraw could result in shifting partnerships and a cease fire deal in syria's opposition controlled northwestern province of idlib could be pretty that deal was the result of russian turkish cooperation despite opposition from the syrian government turkey wanted to prevent a military action that could destabilize its security and create a massive refugee crisis now russian diplomats tell us it will be hard to constrain

syrian president bashar assad from launching an offensive if turkey takes territory in the north east. the bargaining has begun zeneca there. southern turkey. turkey says is working with several countries to bring about a u.n. investigation into the death of the saudi journalist jamal hashad j announcement was made by the foreign minister. at a news conference in tunis ankara also wants riyadh to share the findings of its investigation with the international community was killed in the saudi consulate in istanbul three months ago united arab emirates has released photos of the daughter of one of the country's rulers all to rights groups raised concerns about her well being the pictures show with former u.n. high commissioner for human rights mary robinson a state run news agency says the pictures were taken on december the fifteenth and that is at home with her family in dubai the princess had released

a forty minute video online that went viral but she claimed she was imprisoned and had been abused for years. because himym are says it will issue a ruling on an appeal by two reuters journalists next month alone unsure so with sentenced to seven years behind bars in september on charges of illegally possessing official documents the noise argued they've been framed by police journalists have been reporting on the brutal crackdown by security forces on the injured in myanmar the kind state an attack on a village in nigeria's north west in zamfara state has killed at least seventeen people gunmen or motorcycle stormed mcgaugh me village opening fire on people as they try to flee or the four hundred people have been killed in the zamfara state this year amid an increase in robberies and kidnappings for ransom. well after years of political instability homelessness remains a huge problem in kenya

a critics say an entire generation is being born into poverty the volunteers are trying to prevent life for hundreds of thousands of young people reports from my baby. for kenyans living on the streets celebrating the holidays is probably the last thing on their minds. nearly half the country's population lives below the poverty line. and young people trying to survive are often the most vulnerable to abuse crime drug addiction and police harassment. in nairobi skyscrapers are set against slums that are home to millions of people. david's life on the capital streets began eighteen years ago when he was twelve he says it's a fight for survival and. i have been away from school because of the horrible teachers who beat us all the time i gave up and came to the streets that's where i have been ever since. after years of political unrest kenya's economic outlook is said to be brighter. the latest government figures suggest poverty is down but they

might not tell the whole story volunteers working with underprivileged communities say that from their vantage point the reality on the ground looks very different and that the number of kenyans who are homeless kids and adults might actually be going up. economic migration from rural areas a rising cost of living and overall lack of opportunities aid groups say these kinds of things mean entire families are ending up on the streets and a new generation of kenyans is being born into poverty. some attempts are being made to improve literacy among children. the idea is with their heads in books their minds may not stray to drugs and crime it's the kind of learning space that can make a difference. to beg on the streets now he's a model student with hidden talents and an ambition to be a doctor. when

he started his day job as a school principal clifford all watch runs a rescue shelter. getting kids putting food in their stomachs and a roof over their heads trying to get them back to school. even themselves. so they. can feel. accepted and. the government is trying to improve the situation but charities and volunteers say the scale of kenya's homeless problem is overwhelming for now it's time to leave those troubles at the door and come together a lot says to have fun and celebrate the festivities as

a family. ok i just have on earth on an exciting new discovery in pump a the remains of a petrified horse and its subtle were found in a villa in the ancient roman city they are believed to have belonged to a high ranking military officer perhaps a general being prepared for gas away when they were buried in a volcanic ash remains of the horses have also been discovered at the site which officials hope to open to the public saying perceive is destroyed pompei near the present day italian city of naples back in seventy nine eighty. well it was the journey that set the stage for the apollo eleven moon landing fifty years ago this week three u.s. astronauts flew around the mean it was considered to be nasa is boldest and perhaps most dangerous undertaking rolston jordan explains why this scientific feat was historic in more ways than one.

apollo eight the u.s. is bid to make history launch astronauts bill anders jim lovell and frank borman into space have them orbit the moon ten times bring the back to earth a lot while the remarkable things about nasa at that time people that were there are or willing to subordinate every factor of their life their families their health everything to the success of the mission we three of us for a very fortunate to exist and work in that kind of an environment i believe. committed. repeating the goal orders. of landing a man on the moon and returning him safely to your john kennedy had set the country this challenge in one thousand nine hundred sixty one but despite several preliminary missions and a fatal fire time was running out what's more the soviet union was ahead of the

u.s. in the so-called space race washington. was desperate to catch up nasa got its chance in august one thousand nine hundred sixty eight. had intelligence information i think that robert mention of that the russians were going to put a man or a man shuttle navigate the moon not orbit the moon was just gotten certain navigating come back sixteen weeks later time to board a saturn five rocket and leave the russians behind it was four days before christmas cards after monitoring you know here are the. very. end of modern art for me right mary. long the flight of apollo a minimal yes the mission was newsworthy but the apollo eight mission also happened at the end of a very rough year in the united states. both dr martin luther king jr and bobby kennedy had been assassinated people were writing because of racism and because of

the vietnam war and the failure of vietnam had forced the u.s. president to quit running for re-election it seemed everyone needed some good news maybe not since the civil war we so torn apart so divided so many people distrustful of so many others and it seemed nothing could bring us together again so with chaos in the streets and the highest of stresses at work finally the reason for the voyage seen through a window suddenly here was this beautiful fragile looking. planet our own home planet coming up in particularly is out emphasized over the stark lunar eyes and. i'd. have. a christmas eve message from

these adventurers perhaps even more heartfelt than they could have ever imagined roslyn jordan al-jazeera washington and finally just before we go let's take a look at where the world of hotels could be heading in the future because the internet joint ali baba has launched a futuristic new hotel in the chinese city of joe the entire hotel is aussie run by an all to fishel intelligence system i guess can check in i control the features off their aim for a facial and force recognition. robots are used to deliver service. and reminder of the top stories on al-jazeera at least three hundred seventy three people have been confirmed dead and more than one hundred twenty a missing after a tsunami struck parts of indonesia without warning on saturday rescue teams are

racing to find survivors on the islands of java and sinatra twelve thousand people have been moved to higher ground as experts warn more tsunamis could hit in the coming days present widodo has promised to upgrade tsunami detection and warning systems pakistan's former prime minister has been sentenced to seven years in jail and falling twenty five million dollars after being found guilty of corruption the court said now as sharif was unable to prove a source of income that led him to his ownership of a steel mill in saudi arabia sharif denies the charges and says that politically motivated a suicide bomber has decimated his car bomb outside a government building in the afghan capital kabul gunmen then stormed the building which houses the department of public works two of the gunmen were killed in the attack with at least four people injured when the two hundred employees trapped in the building have been removed to safety israel will hold an early general election in april next year the announcement follows a deadlock over

a controversial military conscription bill a vote had been shuttled for november twenty ninth team if prime minister binyamin netanyahu is returned to office he could be on course to become israel's longest serving leader u.s. president donald trump has blasted the country's central bank saying of a twister that the federal reserve is the only problem with the u.s. economy on the street shares have fallen for a fourth day vestas worried about rising interest rates and a partial government shutdown on sunday the treasury secretary statement each and called a meeting with the c.e.o.'s of six of the u.s. is biggest banks in an attempt to ease investor nerves. u.s. military officials are heading to turkey to meet their turkish counterparts and discuss coordination on syria if follows the surprise you with withdraw from the country where it has bought the syrian coast y p g forces against eisel a spokesman for the turkish president richard tyburn one says turkey will not let up in the fight against isis. and those latest headlines here on al-jazeera is

there is more news for you in half an hour's time counting the cost is coming next by. hello i'm sam is a than this is counting the cost an al-jazeera the weekly look at the world of business and economics this week two thousand and eighteen the year in review the good the bad and the ugly of two thousand and eighteen starting with a trade war between the largest economies on the planet. plus carter became the

first middle east country to leave opec and saudi arabia became a risky country to do business with. talking tag it was three years social media face a backlash three d. printing got a boost. and last but not least paying for climate change is a huge question as two thousand and eighteen grew to a close find out why that matters. trade disputes brags it's renewed u.s. sanctions on iran and the gruesome murder of a saudi journalist political and economic risk was highly visible in two thousand and eighteen the international monetary fund and world bank are warning trade tensions are threatening to rip apart the global economy soaring debt is also threatening to spoil the party in april the i.m.f. warned it came in at one hundred sixty four trillion dollars a historic peak it's

advising governments to prepare buffers to protect themselves and maybe more danger ahead even if the world economy is projected to grow by three point seven percent this year and next when from global council has more on the global economic outlook . i think the really big concern is is china no china growth prospects remain good in china nobody's expecting a major slew don't tomorrow in chinese growth but the big concern about china is that debt to g.d.p. is still rising is projected to rise further still is very high by the standards of other countries or by historical standards and frankly it looks unsustainable so i think i think that is a genuine concern over the next few years for the stability of the global economy we're not in a trade war yet but there is a risk of a trade war one of the concerns about a trade war is that it wouldn't just involve the u.s.

and china would inevitably drag and other countries as well in other countries would be caught up in the crossfire if you like between the u.s. and china right know i think the fear is to describe u.s. policy as unpredictable also quite aggressive equally i think when you look at when you look at china's policy stance also what europeans might do if there are any measures significant measures introduced targeting china or others i think we can we can expect to see retaliation and that that's where the trade war scenario really begins to potentially become a real one on the up side the world's largest and second largest economies recently agreed to postpone new trade tariffs for three months from generally the first but the poles does that mean the war is over the u.s. and china's differing opinions over intellectual property protection need to be ironed out greg swenson founding partner of london based brig macca dam explained the trade dispute isn't going away anytime soon and most both sides make

concessions i don't think this the call has been demonstrated or the core has been articulated well by the president what he seems to dwell on is the trade deficit and he picks these arbitrary numbers or targets for trade deficit reduction which i think is a mistake or it were. we should focus on is that china is violating all kinds of free market and open market policies and rules you know they've taken them to the sixteen times in the last couple of years and they've won all sixteen times but that doesn't seem to be fixing the major problems which are you know theft of ip and. you know the complete disregard for free market principles so what i wish that there was a better way and perhaps there is he's picked this one and i think that he's what he's somewhat lost the narrative or lost the messaging battle because it looks like the u.s. is provoking a trade war when in fact what they're what he's trying to do it is fix something that needs to be fixed i don't think these these tariffs will stay in place because

they're there self-defeating it's not going to it's not not really going to hurt the american consumer of the american economy you know in many ways that the president's plan with house money that you know the economy is is kicking on all cylinders two thousand and eighteen month a decade since the global financial crisis hit since then greater regulation has been introduced but ten is later its young people who seem to be picking up the bill russell jones a partner at llewellyn consulting and former employee of lehman brothers spoke to us about the legacy. i think that have to be some really innovative responses to this i mean income inequality wealth inequality huge issues and as you hinted there is increasingly an intergenerational element to this with the young feeling that they're getting very much the fin end of the wedge is it. i think politicians are going to have to be agile innovative. my sense is the way to look at this

is that we need to become more interventionist but doesn't mean that we have to abandon the sort of capitalist model which has not withstanding the crisis we experience has been so successful for so many centuries but in order to make that capitalist model work and work well we're going to have to redistribute more i'm going to have to think of some some new ways of doing that my sense is that higher taxation on the wealthy is unavoidable my sense is that more transfers from pensioners back into the younger generations is unavoidable we are going to have to do this otherwise the political environment we face which is already let's face it pretty fraught is going to become even more unpleasant and even more difficult to deal with i would say that addressing an income inequality is something which will help to save the current system rather than undermine it after the end of the last

global financial crisis record low interest rates in the us meant many developing nations borrowed in dollars or that came back to haunt them this year you see the dollar has strengthened and it's now costing those countries a lot more to repay their debts and for economists it's raising alarm bells we spoke to timothy ash senior emerging markets sovereign strategist with a london based blue bay asset management. well it means more pressure i mean we you know we enter the in a goldilocks scenario for emerging markets or appeared that way with d.m. central banks tightening but moderately but the assumption was that global growth would stay pretty robust and as long as global growth stayed fine then on the revenue side emerging market countries will be more than able to cope with higher d.m. and u.s. rates i think what's changed in terms of perceptions has been the dollar rally

that's one thing that obviously increases debt service costs in hard currency in dollars for many emerging markets and i think the other one there's been concern about trade walls and what it means for global growth argentina was one of those countries that made a cry for financial help its currency the peso lost harf its value against the bulk of this year the country already has some of the highest interest rates in the world and is now in financial life support when during two thousand and eighteen it secured a fifty seven billion dollar loan from the i.m.f. the largest ever loan in the funds history because argentina was true is not of the markets for so long it's waiting is still relatively low and therefore the impact is more or to be our. investors locally but also foreign direct investments the chances of a default near term because they do have good relations with the i.m.f.

but i think what needs to happen for the time being is that there needs to be a greater burden sharing it had actually now mostly been our foreign investors and local taxpayers it needs to be more on the corporate sector which has been receiving a lot of subsidies generally for example to invest in energy in electricity where they hadn't been any investment for ten or twelve years but also the foreign direct investment investors who are going to have to bear some of the additional losses now in the murder of the journalist jamal has showed jihad these countries consulate in istanbul shocked millions we are asked how much power saudi arabia really wields over the global economy chris got syria used to work for the u.s. department of commerce on the president trump and is the chief executive of because financial he gave us his perspective on the importance of the kingdom's oil to the

rest of the world. it's actually quite important certainly particularly in the short run this is why when we look at some of the potential retaliation tactics that the saudis have threatened we have to take them seriously the saudis have significant assets they hold probably the third most natural resources with about thirty five trillion dollars worth of natural resources within their territory and if the saudis do make good on this retaliation threat potentially raising prices by cutting output of oil production raising all prices up to four hundred dollars per barrel from eighty dollars per barrel which is about more than double just about the all time high of two thousand and eight all time high of one hundred fifty dollars per barrel that would have significant reverberations throughout the global economy u.s. shale exports and the shale industry has taken off we have seen a boom here in the u.s. and we're now on pace to beat saudi arabia and surpass saudi arabia by city banks

estimates next year as an overall leader in both crude and overall oil product exports but however in the short run that's what we have to be most worried about it's the short run repercussions of the saudis cutting output that would send shock waves throughout the global economy but i would say that that that's leverage it would diminish in the long run unless they diversify as the world continues to diversify itself from its energy resources still to come on counting the cost tales from the crypto why digital currencies like bitcoin and rip out of favor in two thousand and eight. back in november iran was effectively shut out from the dollar dominated financial system when the trumpet administration decided to re-impose sanctions the measures aimed right at the heart of these republics economy oil countries received

a six month. why eva this still puts enormous pressure on to her on who smoked inside of a surety president of s.d.b. energy international who explain what's next for iran and the oil prices there is there an expectation in the market that in the next six months and me two thousand one thousand the market is going to face over and over supply due today higher expert capacity from the u.s. and also lower demand so the market will be more red at that time if for any pressures iran is needed all of these countries that are importing oil from you are not there are going to get any types of back to iran and iran can only import humanitarian goods or necessary goods those moves that are not subject to sanctions back to iran so they're kind of bartering their oil for food or medicine or necessary goods and now we have european union and they are coming up with as specific channels as trade with iran banking actions.