tv Counting the Cost Al Jazeera March 20, 2021 12:30pm-1:01pm +03
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market and on another network a well known news reader meets for the 1st time her computer generated double to show none of us is indispensable or beyond manipulation for south korea all this technology has very serious applications as our lives are transformed by the marvels of art of social with teligent. changes whether we like them or not but with brighter. so numb south through. it is good to have you with us hello everyone from going to here in doha headlines and al-jazeera parts of france part of the do you pray in the back of the law town saturday as they struggle with rising numbers of coronavirus cases the french government says the restrictions won't be as harsh as those imposed last here a touch of buffer reports now from paris people in paris and 15 regions in the
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country back in lockdown a 3rd lockdown in just 12 months and what that means is that people in these regions will now have to fill out the permits again every time they want to leave the house they are being encouraged to stay at home they're being encouraged to work from home shops are now shots and they joined of course the restaurants bars cultural center sports facilities that are being shot here since. germany's national disease control center is warning that corona virus cases are rising at an exponential rate it says that more contagious strains have wiped out progress made in containing the pandemic last month chancellor angela merkel says the country will have to reimpose some restrictions at least 2 protesters have been killed overnight in myanmar city of melbourne protests continue across the country despite an increased use of violence by the ministry jointer. u.s.
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president joe biden has condemned an increase in violence against asian americans by vice president karl harris met community leaders in the state of georgia following a mass shooting there on tuesday 6 of the 8 victims were women of asian descent india's defense minister and the u.s. secretary of defense have agreed to a hard security cooperation between that country's lloyd austin's trip to new delhi follows similar visits to south korea and japan seen as an effort to shore up ties and counter china's growing influence in the in depressive region and tsunami warning has been issued in northeastern japan after a strong earthquake the $7.00 magnitude quake struck off the coast of honshu quake was felt in the capital tokyo briefly interrupted the beating of a lympics officials who deciding whether to allow overseas fans at this year's games is the headlines money's fear al-jazeera after this week's counting the cost thanks to. talk to. tell me
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what the government you represent is now illegitimate we listen we did not. fence material from any country the conflict we meet with global news makers and talk about the stories that matter. and that clarke this is counting the cost on al-jazeera your look at the world of business and economics this week the man who saved the euro takes on navigating italy through the pandemic can he turn around the long struggling economy. also this week libya has a unified government the task ahead pulling together. including the country's 2 central bank. takes
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a long hard look at its open economy as china sweeps into everything from power to agriculture. so european debt crisis is spread across the continent threatening its biggest southern economies one man is credited with saving the euro with his vow to do whatever it takes draggy that then president of the european central bank through borsch on the markets raging fire then he may have had luck on his side the politics that have thrown greece ireland and portugal to the walls changed as french and german banks realize they could be wiped out of italy and spain were in the firing line now as the prime minister of italy leading the 69th government since the 2nd world war it appears he's taking his luck with him where other governments have failed drug he could once again be using other people's money to turn things around during the pandemic italy has recorded the most. of any european union country but with
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a stuttering vaccine rollout draggy block to the export of astra zeneca vaccines to australia with debts of more than 150 percent of g.d.p. brussels has relaxed the rules on budget deficits giving economies more breathing room the economy a contract hit the most of any european union country said to me stands to be the biggest winner from the 750000000000 euros the european union has set aside to help economies it share it could be 208000000000 euros over the next 6 years and that is something his predecessors have never been afforded they have been forced to cut costs and services to keep markets and its northern neighbors happy so can drag last more than 13 months the average term of an italian government well let's find out and joining me now from rome via skype is angelica denot the c.e.o. of international property developer identity in bolivia lardy. welcome to the program good to have you here all the political parties have fallen behind dragging
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fallen in line with him which is quite unusual in italian politics isn't it what's changed this time. i think what has changed is the fact that everybody knowledge is and recognizes the fact that it's its do or die situation italy has to get it right they have we have to get our recovery fund planning right we only have until the end of april to at the end and we have to get a reconciliation program right we have no time left to waste and matter that he is internationally and domestically recognized as one of the most most prestigious italians out there so it was a no brainer he was the only option possible right he's also going to tackle these deep rooted problems in the slow growth low productivity high debt how can he go about that do you think well the monies that are coming in will definitely help boost italian productivity estimates i that it should be by 4 percent is going to be around him which is
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a great start and he's having to tackle the issues that you rightly mention which are all rooted in the mental problem which is that italy is drowning in bureaucracy and it is slow it isn't a fish and so he's moving really quickly to try and also tackle the problem of the slowness inefficiencies in our public image and then a situation system trying to innovate or trying to digitize it and that needs to be the starting point to fix everything else and this 200000000000 euros from the new recovery fund how is that money likely to be spent where will it go it will go across 6 main pillars that were identified in the initial layout of the plan a lot of that is going to go into infrastructure investment as as we all know the italian infrastructure network is pretty much obsolete most of it was built after the 2nd world war so we need to we need to tackle that issue we need to continue building ours our real way it now works a lot is going to go into as you mentioned it's asian and of course
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a massive chunk is going to go into sustainability into. and you see because it's only as with the rest of the book has to meet the green new deal targets we need to target. material carbon emissions by 2050 and so a lot will be invested in sustainability as well the drug you advocating called said increasing the country's debt which is already one of the highest in europe what kind of problems might that create down the line well and the big elephant in the room is what will happen once the. once you regulation on debt ceilings which has been relaxed for the covert the nemechek is reintroduced and how that will be reintroduced of course draggy is a very very prominent figure within the us there will be his job our job to negotiate with italy's position but what's also being done at the moment with the recovery fund monies is that in many cases they're being used to substitute debt so the recovery fund that is being used to replace old more expensive that to chime in
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made it happen and that britain more sustainable the 1st government bond under druggy was was offloaded at record low interest rates was now the markets like this man and my kids love him i mean he's the man behind whatever it takes he is a beacon of hope not just for italy but for europe he's the person who kept europe together the last time we had a massive crisis and therefore he is considered to be the man best man for the job in italy now and what about his approach to jobs then and to women and women of course been hard hit by the pandemic and. you wonder what drug drug can do to ensure that reforms and recovery are inclusive absolutely it's actually devastating if you look at the statistics of the jobs lost in 202070 percent were lost by women and that just goes to show that the size of the massive pay gap there is also a massive inequality when it comes to italian women having access to the labor
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market and exist still being forced to choose between their. and there are jobs italy is a laggard in the european rankings in terms of a funeral inconsiderately on the labor market and it was estimated the just reaching european averages would boost italian g.d.p. by $88000000000.00 so. finding a way to reach a more equal distribution we can men and women is just good for business and i think you will have to invest heavily in in welfare schemes which are designed to aid women's return to the to the job market and to ensure that it is a more equal playing field right now how much support we get from government about those sort of concepts. i think he must get full support and we have a ministry that is devoted just to equality and family matters with a minister and they made it very clear the feeling was that if he is is top of their agenda as they were at the should be and what about the industry that you
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work and mention because it's hugely crucial to the economy what more do you think he'll do on that front so as you rightly said the construction industry is crucial to the economy and what's very interesting is that the italian construction industry association and chair analyzed the results in the recovery plan and they they found that 51 percent of buttons allocated to italy will touch our industry in one way or another and this is essential because the construction industry is at the tail end of the 12 year long crisis we've had a 33 percent reduction in production we've lost 600000 jobs tens of thousands of companies have failed and we're faced with a country that is crumbling as we mentioned before work the whole infrastructure system needs to be upgraded but our city and also need to be upgraded let's not forget that italy is one of the main tourist destinations in the world and to encourage her to continue traveling to italy we need to maintain or in cities we
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need to maintain our transportation networks our schools are falling apart those need to be rebuilt there is so much that needs to be done and so much of this it touches the construction industry so back to the question vimy that we started with county last more than 13 months. that's and i think his immediate priority is to make sure that the vaccine rollout happens on schedule and even better than scheduled in the promise that was made was that everybody would be vaccinated by the end of the summer and his other main goal is the recovery. here is he is saying that his his goals are those that he is not planning to take on and mark let me say from my perspective i grew up abroad i've always admired him greatly i hope he can stay as long as possible right as well because then are to appreciate a perspective thanks very much indeed thank you for having me nic. now the fall of moammar gadhafi his dictatorship in 2011 brought
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a decade of anarchy to libya with the un backed government in the west pitched against warlord honey for have to from the east but in recent weeks the united nations has brokered the deal to end the political turmoil unified government led by prime minister designate a deal hamid baber has the task of fixing a war torn economy it may surprise many that libya had 2 central banks the east and central bank based in tripoli has issued that's now worth more than $23000000000.00 it's creaky all infrastructure could hold back its recovery it's currently pumping oil at a rate of 1250000 barrels a day it hopes to get back to 1450000 barrels by the end of 2021 but that's still 200000 barrels short of what it was producing before gadhafi was toppled the economy crushed 66.7 percent last year and that just underlines the new unified government to do list. which includes fixing the water electricity and housing
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infrastructure let's talk about all of this that's a cross to tart yourself who's joining us now from the harvest scott taric is the director of the brookings doha center and a board member of the central bank of libya taric welcome so 1st up after the civil war is there an estimate as to what the rebuild costs will be i don't think we have any updated estimates regarding the building costs but if you go back to 2011 after the toppling of the old regime took place people had advanced figures as high as $100000000.00 back then in the subsequent few years some of the destruction that took place in the city of benghazi alone was estimated to cost or acquired about $50000000000.00 so we're talking about tens of billions maybe hundreds of billions of dollars in order to restore. libya's sort of versus rebuild
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the infrastructure and certainly and more importantly from the perspective of average citizens put libya on the right path towards prosperity stability and the kind of standard of living that people hoped to achieve absolute it was an extraordinary amount of money isn't it said where is it going to come from and that is the conundrum that's the biggest challenge arguably facing not just libya's institutions but the country as a whole the money simply isn't there at the last 10 years. used to essentially covered most the current expenditures salaries subsidies and to a much lesser extent any development at locations meaning the kind of projects and funding for housing in the city public health not to mention the destruction the last i would put the damaged infrastructure and capital the money at the moment it
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is not available within libya's existing staving available to sources and more importantly given what oil prices are given libya's oil production you're not going to be able to do a lot of very building that a lying soley on the country's resources you'd have to look for the options abroad but this is happening at a time when massive debts have been run by all countries libya remains a very unattractive destination for foreign capital and so this puts libyan policymakers and its institutions in a very difficult position how to manage and fund couldn't needs while also investing for the future the building the economy that building the infrastructure to restoring sort of us is the. the magnitude of what is required
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far exceeds certainly what is available at the moment and anyway a big problem before was this consistent international competition for what would be lucrative contracts how do you avoid that again well you'd have to avoid that by distorting the sovereignty of. libya the government and its people. but then you'd have to work through a backlog that goes back to play 2011 of contracts that would suspend it start would never completed and you'd have to start thinking about priorities for the coming period so how do you at on the one hand keep and minimize foreign interference while on the other hand establish priorities and decide how you want to fund those play oddities it is a task of monumental importance difficulty and certainly one for
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a country that's just emerging from a civil war and where a national unity government has only been in place now for a few weeks i would say libya is in a better position today than it was just a few months ago but things remain fragile and how far you can achieve all the objectives that the public has that libyans have of the of the country remains to be seen and will be one that will be would have to pay attention to over the next few years what's the best way then the navigating these these kind of clashing in some cases clashing international interests. i would say part of what we have observed in the last few months and but haps that is why the ceasefire that was signed in september october last year has remained in place there was a lot of international fatigue or fatigue amongst the countries competing for
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influence in libya you also saw the biden and mr ation come in and begin to distort the stabilizing role that the u.s. had historically played. you also have to call that 1000 lockdowns and the preoccupation in all foreign capitals with domestic issues all of this is has essentially bought libyan some time. kept foreign actors busy elsewhere and has has given the country space to be able to. start putting the building blocks together will this last post 2021 we don't know yet but if we can libyans the national unity government can take the necessary steps to distort sovereignty to build on this national unity trajectory that he had that ability to domestic institutions and bring some coherence to come to the country's finances i think we could give ourselves and the country could give itself
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a very good chance of emerging in 2022 in a want to better foundation with this. essentially control over its destiny as opposed to what we observed in 2192020 ok a start not just going to jump in there just because we just need to wrap up but as part of bringing financial coherence of the country is the budget the 2021 budgets how important is that and will it get wholesale approval i think it's a very critical test for the national unity government heightened expectations amongst the pop up look about what the government is going to be able to do is going to push the budget envelope quite high whether that in fact is consistent with the country's available resources but it means to be seen i think at minimum this would require a very close cooperation coordination between the various acts in the country the government the central bank the odd bit of the national oil company we've not seen
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that yet we've not even seen the budget yet but that will be one of the earliest and most critical test of whether this government is able to do both short totem needs and focus at the same time on building a foundation for the long term stability and prosperity targum use of fantastic to get your view on this thank you. ok chinese state owned companies have a growing influence in chile considered latin america's most open free market economy is raising concerns about the country's future economic independence a group of bipartisan politicians are proposing a law to limit chinese companies participation in key and strategic industries but as newman reports from the central city of chamber don't go that's not as easy as it may sound. from the $1000000000.00 acquisition of one of the world's largest salmon companies to the purchase of copper and lithium mines to wineries and fruit fields. china has set its sights on chile it may be
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a small country but it has a very long and strategic pacific coastline and lots of resources that the agent giant needs but that's not the only attraction the most important thing for china is. window shop in. their region. to say. you know here we are in. america but while chile's economic growth owns a great deal to china members of congress are warning of an aggressive investment offensive not from private capital but from the chinese state yes you're not i or not if you don't regulate the participation of a foreign site in your economy that economy could be nationalized not by our own country but rather by a foreign state that's what we've presented a bipartisan bill to level the playing field for everyone because we're facing an
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offensive by the chinese side the wants to take over strategic sectors of the economy what the congressman has called drafted a proposal that seeks to regulate farm state ownership in strategic and geopolitical sectors of the economy on the top of his list is the chinese states majority control of electricity distribution in chile cherry orchard like the. when you see here may not seem to fit that description but chinese companies are increasingly buying more and more agricultural land like this farm to produce one of chile's prime exports fruit especially cherries and that's raising concerns that china may be moving towards producing packing and exporting its own fruit eventual eliminating the chilean entrepreneur altogether. 6 weeks ago at the height of peak season $1000000000.00 cherry exports to china ground to an abrupt halt.
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it's very suspicious exactly when we started to buy this bill in congress the social networks in china who will now controlled by the slight became denouncing that out sherri's had traces of coded 19. chiles foreign ministry refuses to entertain the notion of foul play at least publicly but now viral is not alone in suspecting that china was sending a veiled message that there's a high price to pay if chile decides to limit china's economic influence in human al-jazeera. the future of the falkland islands is being discussed the game after they were excluded from trade deals between the u.k. and the e.u. the british overseas territory will not be part of any commercial tax or customs agreements and stories about reports argentina's government seize an opportunity. the falklands islands in the southern atlantic also known as my levinas for people in latin america are considered part of the overseas territories of the united
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kingdom but 2 days after finalizing the brics it agreement the european union and oust that it would stop recognizing overseas territories under british rule and the benefits that came along the decision came as a surprise for residents of the islands that of the other territories were allowed to vote in the referendum even though. we respect that decision after it was quite a bit of a shock i think when the when the result. we hadn't really expected that relationship changed that next piece of the puzzle does need to be addressed. we need a relationship with the cape. as well 4 years industries here have benefited from being a member state until now jane wallace is concerned about what's coming next i find it very concerning that the situation is that at the moment any fish or squid they react sport to europe or attract
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a tariff of between 6 and 18 percent i mean to give you an idea in terms of conservative view based on our recent financial performance that 6 percent represents 30 percent on average of our profits over the last 5 years so as extremely disturbing the decision by the e.u.'s perceived as a victory for argentina which has been demanding before plans are moving us islands the south georgia and the south sandwich islands belongs to them. the thought printed dispute over the islands led to a war between britain and argentina in 1982 it lasted for 74 days and left almost 1000 dead in spite of losing the war argentina continues to demand that the islands are part of their territory inherited from the spanish colonial war manual females who is in charge of the mill venus issue in argentina says he's government is going to continue pushing for. the most rudimentary
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we're still in the early stages up to brics it but europe has signaled a change in its position on the islands there was a similar case at the u.n. when the child was archipelago the u.k. lost 114-2686 months to return the island to more rishis the only e.u. country to vote for the u.k. was hungry on the islands argentina's ambitions are perceived as a threat that's why people here are hoping their needs from now on one being annoyed. when a site is. it is our show for this week if you like to comment on anything you see you can tweet me at clark i'll just please use the hashtag a j c d c or just drop us an e-mail counting the cost 0 dot net is our address plenty more for you online too at al-jazeera dot com slash c.d.c. and that will take you straight to our page which. catch up. but is it for this
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edition of counting the cost time o'clock in the whole team thanks for joining us the news on al-jazeera is coming up. what should americans be thinking and doing right now it should be a bad idea they don't care about their work is all they care about is making money in china it's not going to be left out of the calling for the bloated defense budget to be cut the bottom line on us politics and policies and their effect on the world. the us is always of in fact the people the world people pay attention to what gets on here and how does it is very good at bringing the news to the world from here thanks love to make amends to suffering it's because behind the suffering a millions of taxpayers because us taxpayers never go away is a new one born every single day a 19 it is an urgent national necessity that it be officially requested. of the support mechanism we created together because i happen to live in creeks somehow
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this is al jazeera. closer raman you're watching al-jazeera news our life my headquarters here in doha coming up in the next 60 minutes fearing another wave of covert 19 several european countries impose new covert 19 restrictions and lockdowns will be speaking live to the u.k. vaccine minister. another day of violence and me and maurice and a few protesters continue to defy the military also. he can have no say for bremer
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