question on people's minds but there's also economists who believe that this is the time to do to take down interest rates because when you finally realize that you have you're in a recession it will have been accumulating over a period of months before it actually hits and so you've got to have a bit of a crystal ball in trying to determine where the economy's going to be but make no mistake that the trade situation between china and the united states is having a direct impact on the federal reserve's decision making powers as to whether they do reduce the interest rate because if we do get into a trade war that is going to have such an impact on the economy that only federal. interest rates and adjusting them is going to be one of the simple but very important tools to be able to contain the economic downfall changeable it's been a pleasure talking to thank you for joining thank you very much. let's move to some other stories and as rising sea levels threaten indonesia's

capital president is planning to relocate that capital to the onat of borneo his decision is also about spreading the wealth of the nation more evenly across the $13000.00 islands that make up the archipelago right now and the island of java accounts of 58 percent of the country's economy but as mohammed now reports there are concerns that a move to borneo would adversely impact the very people who live there this largely untouched part of east will become the new capital of indonesia if the president has his way. it's in stock contrast to the capital jakarta clogged with heavy traffic smog and sinking the pressure to move is rising along with sea levels which may mean the city of more than 10000000 people could be under water within the next 30 years. and this is where the city's relocation may end up borneo island known for its lush rain forest and rare wildlife. while it was chosen for

being less prone to earthquakes and floods there are concerns the massive move will threaten conservation efforts activists say mining and logging have already damaged some areas. will destroy the eco system it will cause forest the structure and raise the temperature of recent forest fires and during the drought will create a water shortage. moving the capital has been discussed for decades but recently resurrected by president djoko we don't owe estimates to cost $32000000000.00 it will be one of the world's largest single infrastructure projects. the plan is to build the city on land between east cali montages 2 largest cities public pub and summer into connected by this 1009 clomid to long toll road. the 1st stage of construction will be around this land will be

a presidential palace ministries and housing for government and schools elsewhere they'll be hotels businesses and offices to meet the demands of the cities of new population. while the new capital is welcomed by many indonesians villages in pasir fear they'll be forced off land they've lived on for generations. we worry about the legality of our land only 20 percent of us have the legal documents he lost to us foreigner have been coming here it's goes intension in the community government leaders in jakarta say the exact site of the new city hasn't been revealed told void property speculation. we don't need to ask people when we want to move the capital it's up to the government to decide as long as we don't destroy the environment or harm anybody. while plans are still in the early stages the 1st construction is expected to be complete by 2020 full movie and entire capital city

will be a delicate balancing act for indonesia's leaders preserving the natural habitat while building their vision for a new concrete jungle and in addition to that report regular caught up with indonesia's planning minister bang bang broad general she began by asking him just how bad the situation was into counter itself in fact it's not just about your partner but also about java. and the big disparity between jaffa and other islands in indonesia. already contributes almost 60 percent of the economy and becoming the home of almost 57 percent of our population meaning that 150000000 people live in. terms of size is not of course the lot of years i learned in the last. and also. it means. crowded and. created

kind of big disparity while indonesia is. bigger in the world. i don't think it's fair if everything just focusing on just as recently in jakarta because. today it's just handed off everything in. if you're going to do to deal with the government you would have to live with the business and then. other sort of this is. even limited to the industrial or manufacturing sector so just by itself by quantity would be almost 15 percent as a profit. if you include also the metropolitan area which is lot of your area that could contribute almost a quarter of the economy of the country from that area speaking about the activity happening in east right yeah there is mining this logging and there's all

plantations what happens to those sectors when you have an influx of people well i mean of 1st of all situation. by the economic growth is lower then. obviously economic growth they are one of the islands that having a lower economic growth why because part of the price their economy depends so much on natural resources like what you mentioned i mean. not months not so much anymore because the production has been declining. mining coal and oil so of course the activity is still down but of course the economy cannot depend on the on natural resources because the price is fluctuate dave and then see today is declining so we need to diversify the economy. by for example some of the sector including government services that will be looked at that in the new capital so we

know that you are going to be footing the bill of $32000000000.00 us dollars around that where is the money going to come from yeah we are going to in-fight private sector participation with many ways. yes number one is asset management scheme in which there will be a lot of assets that will be left behind when we move the capital that's really the asset that now becoming like this building the office and other government offices is here it's value off in jakarta and also the asset in the new capital so we are going to offer of the asset for. collaboration with private sector and of course private sector we'll probably be what. that afternoon to the government and part of the revenue will be us to build capital other than a set management scheme we have for the public private partnership mostly for infrastructure projects related in the new capital and 3rd of course we we in 5

private sector participation as personally for. the house seeing you know to be located in the new capital so basically we do not want to really disturb our budget there's also some more is about land speculation and the price of landing creasing and some people that we've spoken to in the area has hall have told us that there's tensions brewing amongst the community because they haven't been informed about what's going to happen to where they stay what you say that this bill and that will be used for the location of the new capital will be the land at almost 100 percent all. and mainly it's by the government so we do not we are not going to buy or acquire the land from somebody else. that will lead on us because as i mentioned almost kind of now under the control of the government if

there is less regulation of course the big question will be there everywhere in the world and that happens because the drive to get the best to get the access of profit that could happen outside the area off of the new capital but not in sight and what about resolving the issues in jakarta this flooding this congestion will be leaving the city behind and moving forward on a turning over a new leaf or are you to have a plan in place to fix things happening here are going to obviate. one of the problem in the financial and business and that of south east asia so far that position belongs to singapore and bangle is a little bit behind so we need to upgrade jakarta but we need also at the same time relief the burden in jakarta by moving the government seat to the new capital but. i would like to see the new capital be like washington d.c.

while it will be upgraded and developed like the new york city in the us what about the environmental concerns. has been considered to be the lungs of the us you have environmental activists are worried about the impact this is going to have on the land that they don't need to watery simply because number one our location is not going to affect the boat though protected forests in indonesia natural for us the natural forest what that did for us we'll still be there. and affected by your capital number 2 the city itself the capital itself will be the sign with a broad of green and for a c.p. with a minimum 50 percent of the area will be open green space and in fact in the area we are already identified some points are for us and also. some ex

mining activities that basically ruining the empire mental condition so we are going to rehabilitate the condition both in concert for us as well as acts mining location so basically we are committed to even reforestation rather than be forestation carol thank you very much indeed for taking time thank you. thank you thank you. finally this week argentina where the currency is the peso but the u.s. dollar plays a crucial role in economic and political life after president lost a primary election back in august the peso then lost a quarter of its value and now argentina is burning through its foreign reserves to shore up the pace own to pay off dollar denominated debt to raise a bow now with this look at why the dollar dominates in latin america's 3rd biggest economy. it's 10 o'clock in the morning in argentina and the question everyone has is how much is the dollar today argentina is in the middle of an

economic crisis and it's the u.s. dollar that's in the spotlight once again france as a program one of the crises in argentina or a cyclical and things happen again argentina is look at the dollar and people want to save themselves and sort of the country in general in the past year recession is everywhere even though the national monies that they saw if the u.s. currency what runs the economy the main reason is inflation because a raise in the value of the u.s. dollar immediately translates to a race in the price of almost everything in the early 20th century argentina was one of the richest countries in the world thanks to the export of beef wheat and other farm goods but things changed in the 1930 s. because of the great depression the united states and political instability and since then argentina has defaulted on its sovereign debt several times and inflation has almost always been in the double digit this museums and shows how the arjan time currency has depreciated over the years and in

a way it explains why arjun times preferred to save in u.s. dollars. the word crisis and devaluation appears repeatedly in the coin museum of when a site is over the years argentina has not been able to solve its main problem the economy needs dollars to grow but the country spends more than it produces so it needs to borrow abroad that's what precedent machree did since taking office in 2015 market restoration work to go over the expectation was to generate capital inflows and generate growth through investment. 100 primes you had a lot of pork for your inflows but not as much investment magri was a bit too optimistic it took too long to adjust the fiscal issues they have you had to keep interest rates too high for too long and people already know mistrusts. the value of the piece and that's why people have been going to the banks to either buy dollars or get their money out in the lot of the u.s.

dollar is not only used by the elite in argentina but by all sectors that run to buy dollars as soon as they have some cash it's how people try to preserve their cash cost to dollar rise the economy are common in argentina but people like my say it will not work out well and i mean in 19012001 there was an attempt to tie the past so to the dollar it was a converted billeted at that time it was not a dollar a zation but the states did not have a monetary policy it controlled inflation but it devastated the economy to. be tended in that massive crisis in 2001. next few months will be difficult ones for argentina but he's unable to amend an economic pattern that repeats itself over and over again. and that is our show for this week but we'd love to hear from him you can tweet or message me directly at kemal a.j.

on twitter with the hashtag a j c t c or you can drop us an e-mail counting the cost of al-jazeera dot net is the address and plenty more for you online about his or about com slash c.d.c. we'll take you straight to our page with individual reports links and entire episodes for you to catch up but that is it for this edition of counting the cost on come all santamaria from the whole team thanks for joining us the news on al-jazeera is next. an ethiopian woman determined to tell the world a new story about her country our us our humanity is the most beautiful

and we've got i wish he can just realize that i am just love about despite the challenges she became c.e.o. of tourism and head of ethiopia's land development project my ethiopia on al-jazeera. you have stolen my dreams my childhood with your empty words. teenage activist gratitude and condemns world leaders for notes taking action as a climate summit gets underway at the u.n.

. i'm alamo he'd seen that this is al jazeera live from doha also coming up. the u.n. secretary general and says a long awaited step towards a political solution to ending the war in syria. families wait for news of loved ones in afghanistan after an apparent airstrike kills at least 40 people. plus airliners grounded hundreds of thousands stranded as the world's oldest travel company collapses. world leaders have been attending a special some of its own climate change at sea a night of nations $66.00 nations are pledged to cut carbon emissions to 0 by 2050

it's seen as a vital goal in preventing catastrophic longer term climate change and while president sun premiers talks about what they hope to do within their own borders french president emanuel micro challenged other nations to include climate change in their trades and finance policies semir has pledged to give $100000000.00 it's a smaller. arlan states another how today you will hear the phenomenon of climate change is undoubtedly one of the serious challenges of our time causing many problems including economic environmental and social problems but also use must fulfill their responsibilities and honor their commitments under international agreement and the state of qatar has assumed its responsibilities as an act of art there in the international community to confront climate change yet. but teenage climate activists gratitude scolded world leaders at the assembly accusing them of stealing her childhood's through inaction you have stolen my dreams my

childhood with your empty words and yet i'm one of the jocks once. people are suffering people are dying and die you just go systems are collapsing we are in the beginning of a mass extinction and all you can talk about is money and fame or tales of eternal economic growth. or russell and jordan joins us now live at the united nations there and was labor of heard powerful testimony at that summit today. not just powerful testimony coming from god to tom burke the swedish activist who started with a friday school strike a little more than a year ago to highlight the threat from global warming to our humanity and to life on the planet earth it has become a global movement she's being talked about as perhaps

a potential winner of the nobel peace prize one day but what's also important is that the u.n. secretary general antonio group that is is similarly seized by the threat from global warming and has called world leaders to this summit to expand on how they're going to make good on their promises under the 2015 paris climate accords it's a situation where he is not letting just anyone take the stage is expecting and demanding that leaders as well as business leaders and people who work with n.g.o.s and other civil society groups explain in detail exactly what they're going to do what their deadlines are and how soon they could see a part tensional a change in the average temperature rise on planet earth by 2020 by 2030 by 2050 it's been a rather interesting someone are so far especially given that the u.s.

president donald trump who had not intended to attend the summit did show up for about 10 to 15 minutes listened in as other will leaders including narendra modi the prime minister of india addressed the session and then left for his own competing session as it were on preventing those who have been persecuted for religious reasons but certainly what's going to come out of this at the end of today is a collection of what countries and groups and businesses say they're going to do the secretary general is going to take that liz. of actions to the cause cope $25.00 a climate change summit in santiago chile which is taking place in december it's really a way of boosting the 2015 powers of court and really trying to gen up momentum for something which everyone at this moment is agreeing has to be dealt with immediately rosslyn jordan reporting for us live at the un thank you. the united

nations secretary general antonio good terrace has announced the formation of a constitutional committee for syria it's seen as a step toward restarting the stalled peace process aimed at ending the 8 year conflicts i am pleased to announce the agreement of the governments of the syrian arab republic and the syrian negotiations could mission for a credible balance then the inclusive constitutional committee that will be facilitated by the united nations in geneva. i welcome the progress made by my by the government and the opposition and my special envoy facilitates if you get him and you know gardens we disagree with the council resolution 2254 of 215 and we will convene the constitutional committee in the coming weeks well let's get more on this from our diplomatic and state james baker. the united nations chain say

a long awaited step forward some might say just how significant is this. an important step but not a breakthrough i think because it is only dealing with one small part of the problem but it is a small part of the problem that the diplomacy of the u.n. has got caught up on for well over a year now the former special envoy stefan diem a store i was working on this constitutional committee he ended his job at the end of last year and all year gap pederson is norwegian successor has been working trying to get this committee together of the problem was who was going to sit in the committee there are 3 different lists one drawn up by the government one drawn up by the opposition and list of civil society that was drawn up by the united nations and there were arguments over the last names about they've been arguing over just a couple of names for literally months and months a final decision on the names was made last week in turkey when the mead leaders of

turkey iran and russia met its the secretary general and was pleased by that but still wasn't entirely certain this was going to go ahead because he was worried that the syrian government would put obstacles in the way that's why he sent his special envoy mr patterson to damascus in the last 48 hours he's been meeting with the deputy prime minister of syria and foreign minister walid moallem and they are now i think happy that they can announce this so what we're going to do is have a number of. that's who are going to go to geneva in the coming weeks to try and deal with the future constitution of syria that gets you potentially into all the whole issue of 'd elections and who could vote in elections a controversial subject for syria where since 970 since the assads have been in power you've only had sham elections so an important development but i think critics would say only dealing with with the future of syria and of course the

president of syria is that going bombardment which is stopped by this quite sad conflict in syria has long troubled the u.n. another issue which essentially looming large at present is iran has there been any to valid ments in that regard. well it's changed a lot similar last 10 days because there was talk of a meeting between president trump and president rouhani wallet both leaders are here in new york that i think is completely off the table now i went to a briefing by the iranian foreign minister mohammad job it invited a small group of journalists for breakfast he told us that unless the u.s. changed its position very radically then there would be no meeting between the 2 leaders but i think iran still wants to try and seize the diplomatic initiative joining this week and wants to look moderates in the world at a time when the u.s. and now the u.k. are accusing them of responsibility of 'd that drone attack on the oil

installations in saudi arabia and that's why iran has come up with a new initiative they're calling it the hormuz initiative they say that's a title that neither side can object to because clearly they're even calling the persian gulf of the arabian gulf is and is an issue that no one can agree on in the region the idea would be to invite all the countries that are there on the side of the gulf to come together under a u.n. umbrella to discuss all regional security issues to discuss navigation. shipping in the gulf and other issues it sounds very reasonable but for the trumpet administration i think they will be not so happy about a formula that doesn't give them a seat at the table but we'll have to see how the u.s. response to this ok james bays life is at the u.n. thanks very much indeed. now the new snow the u.k.'s main opposition labor party has pledged to hold

a 2nd referendum on bracks its if it wins an election however the parsi still remains divided on whether it should support staying and the european union for more on this let's go live to barbara who is at that labor party conference in brighton seem we now have is this a firm commitment to a 2nd referendum but what does this change for the labor party. will have to be truthful it doesn't change anything in terms of where it moves the party on from what the leadership has been promising in recent months and weeks and a lot of the conversations you hear from delegates are people who are really quite amazing what's happened because we have seen a motion which was a moderated from various constituency parties from around britain which wanted the party to commit to campaigning for remain in the referendum but they're promising

votes motion was defeated but a lot of the people in the conference hall weren't so sure that the show of hands showed that they wanted what's called a car vote act actually counting the number of votes visible physically the chair of the debates denied that she said that that had been lost another motion which was supporting the leadership stance was passed now that says that label will go into a general election promising the electorate a referendum on whether to leave the european union with a new deal to be negotiated by labor or to remain but it doesn't say how the party will actually act will it turn pain will it back it will it back remain or will it back its own deal so many people say that the party now

lacks that clarity which is needed in the marketplace of a general election now that you've got the other.