he said publicly that he wants a competitive team and now i don't think there's a more competitive team than this. and that means that he doesn't have an excuse to do any other thing. the formalities of the medical, his $41000000.00 contract and his unveiling over now it's time for messy to step on the pitch. he should do that, that training this week in a much for real. by the end of the month, pull race al jazeera paris. ah, your challenges there with me, the whole rom, the reminder, all top stories i can present. i should have. donnie has visited the government's last stronghold in the north in a bid to run the troops against an escalating battle with the taliban. if the city of missouri, she re falls, the government would lose control of the countries north of con sons, interior minister has told out there that government forces are pushing to secure main highways, large cities and border crossings. local groups are being given alms and

a bit to fight back the taliban offences that i'm them to do. i know last what i'm asking the taliban to stop their brutality. leave killing. sit down with love and we should find solutions. i'm asking them not to destroy buildings or are cheap. let's come and sit together and make a coalition government one that would be acceptable to all sides. the sooner we do this, the better. and if you, if you don't group says it struck in alliance with 2 great forces to overthrow the government and outside of both groups. the morrow liberation army and the guy in people's liberation front were added to the government terrorist this year. wildfires. now, jerry, i have ripped across his mountainous regions, killing at least 65 people. l jerry and red crescent says more than 1000 people have been injured and at least 600 families left homeless. the president declared a 3 day morning period to honor lives last, which includes 28 soldiers official say, asked the suspected in some of the fires in the berber region of cobbled. despite

the ongoing heat wave, a british national has been arrested in germany after being accused of spying for russia. he said to her, some documents obtained from the british empire, the way were to russian intelligence is expected in court later on wednesday, the accused as currently in pre trial detention and awaiting a decision from a judge. poland government has pushed through media ownership bill, but many se threatens press freedom. the bill passed with a narrow win in parliament after the vote was briefly postponed by the opposition critic, fer it will lead to the closure of a u. s. broadcast a critical of the government. fatal messy says he's hungry when trophies after being officially presented as the p. s. g player. the argentine superstar has signed a 2 year contract with an option of an extra season. those are the headlines about more news and a half now counting, the cost is next to stay with us. is the country about to collapse before the kind

of reform you're talking about can take place. we bring you the stories and developments that are rapidly changing the world we live in. why are we not in the best situation? why has that money been responded? how did that happen? counting the cost on al jazeera ah, there, clark, this is counting the cost on al jazeera, your look at the world of business and economics this week. the lopsided economic recovery and the fact seen in the quality between rich and poor nations widens, but it's old wounds that are being opened up by the pandemic. can the i m. s new 650000000000 dollar fund? bridge the gap. also this week pages, regulatory assault and private companies, white's one trillion dollars off the value of chinese stock. what's behind beijing

stance? could be followed by other countries who's how the biggest shipping port in the western hemisphere cannot cope with the trillion us stimulus. ah, so from trinity to south africa, the pandemic has reopened or exposed existing economic and political challenges. failures to tackle unemployment, the accumulation of debts, rising inequalities, leading to social unrest with no end to the health crisis inside. as a 3rd wave takes a grip across africa, the international monetary fund has warned. the gap between rich and poor nations is widening. while the i m f, increased its forecasts for advanced economies growth this year, the washington base institute cut it's grateful costs for emerging and developing economies. the i m. f is blaming the unequal deploying to vaccines for holding back growth. about 40 percent of the population in advanced economies had been fully stated. while that figure is just 11 percent or less in emerging markets and low

income developing economies. a repeated call to rich nations to contribute $50000000000.00 to provide vaccines for developing nations to bring an end to the pandemic. possibly by the end of next year, it's approved the $650000000000.00 fund to help countries through the crisis. about $21000000000.00 will go to low income countries, and $212000000000.00 will go to other emerging markets and developing countries without counting china. all that money would come in handy for south africa, which is counting the cost of unrest that killed more than $300.00 people. following the jailing of former president, jacob zoom in south africa has limited room to maneuver after a decade of bailing out failing state and companies and corruption colleges. there has been a smith takes a look at the aftermath of the unrest of the li comrey surveys. what's left of his parade of shop in bulwark next door, we have got a group of doctors that at the spent quarter of a 1000000 setting up

a nice practice in the 48 hours every shop in this bustling town was stripped than torched. a community of 35000 people now left with no commercial center. scaring the looting with spock by the jailing of former president jacob's humor. it was given momentum by chronic poverty and inequality in south africa. made worse by the pandemic. were a couple of hours drive outside durban, and it's only when you leave the city. get a real idea of the scale of the looting, because not a town or village seems to been left untouched. outside the furniture store, people cute with taxes to help him carry home the bulky beds and sofas they stolen, the local police. overwhelmed, stood by and watched. it took a week for the south african government to restore order. hearing jacob zoom his home province of course,

and how and how ting with no shops and no post office to withdraw allowances and with distribution centers also hit by looting. people will likely go hungry. it'll take weeks at best for this town to be able to offer even basic services again. when a party to end it almost 30 years ago. millions of south africans like dorian and gamer, hope for a future of equality, opportunity, and prosperity for her. her children and her grandchildren. it hasn't turned out like that. dorian story is one of frustration and wasted potential, a story familiar to millions across this country. i was interested in going maybe university's way, but i put in a 40 because it's too much. i could, i couldn't afford it, but i was so interested in being something having some profession. but i can.

the world bank says that south africa is now the most unequal society in the world . the top 10 percent earnest take home 65 percent of the income white people a still more likely to find work and better paid work than the black counterparts. doreen would at least like her grandchildren to have a fair chance that growing up in a country where half the population lives below the poverty line. right, let's get some an analysis now from a b b, i'm going to last. see, he's a director of the african department at the international monetary fund and joined us from washington dc via skype out there. mr. selassie hi, how are you? i will this unrest that we're seeing around the world is not just about the pandemic. it's all about longstanding economic and social issues. it's a $1000000.00 question, but what needs to be done? well, you know, at the moment in sub saharan africa in particular, the key challenge tracing their countries is the pandemic. of course,

that comic troubles but countries are having released them from the pandemic. and as managing director, study, you know, give a, has been saying, we've seen a dangerous divergence between the path, both of the pandemic, but also economic performance in the richer and put up countries around the world. some south africa, notably as well behind in the vaccination progress. so that is really the key worry that we have. and of course, without the vaccination, without vaccine shots of the arms, without getting the pandemic under control, trees difficult to, to build and look forward to stronger economic performance which can help address some of the social and political tensions that we've seen. and you have suggested that rich nations contribute to this 50000000000 dollar vaccination fund to assist with this program of vaccination port nations, people in port nations. how's that guy? one of the things that we've been doing quite of

a conventional conference really to lay out the scale of the problem without understanding the problem, how it's impacting various countries. it's difficult to find a solution. so we've laid out what the scale of the problem is. why it's important to vaccinate people, making economic case, the social case, the model case. and then also, you know, got the country specific level. we've developed a dashboard where we are showing the kind of what each country needs to do to these objectives that reset off 40 percent by the end of the year and 60 percent by the middle of next year. we're doing this, of course, in conjunction with the partners that are really much more important voices when they say out of the actual world bank, the retail and you know, we're collaborating greatly. and financing, of course, is a very important part of how we can get to these objectives in recent years. it has been some real progress, hasn't there, and in cutting poverty and inequality in africa. but what kind of damage has the

pandemic done to that progress? advance, it's really awful, nick. so you know the poverty rate since i'm sad, i'm africa and the ninety's was high as 55 percent and reflecting strong economic reforms good growth over the last couple of decades. they had their whatever declining trend, so declining to about 40 percent from africa by a few years ago. unfortunately, with the span demik, we're seeing a reverse held him back to project 3 just over the last year. the world bank estimates that as many as 30000000 people have fallen into poverty. so this exactly is why you know, the situation really have been pulling out the stops to support the region like never before. last year we went to the region. we provide a financing off the order of 13 times what we would, you know, in

a normal yes. and this year. of course we're also hoping to do water. we are personally engaged, been longer term programs, but also just the, the suite called executive board approved the injection of the largest. if the, our allocation ever to $650000000.00 of which about $24000000000.00 will be going to sub saharan africa countries. and that will be a very important financial shop in the arms for 4 countries. now the m f is suggesting that countries kind of spend their way out of the pandemic, but for developing nations that's just not possible. is it a lacy ahead? is a debt burden? what is really important is if that is of course, i am death issues in the region. however, when you have an existential crisis like this, if you don't get, if you don't get that health situation under control, you don't put the pandemic behind you. you have more issues than just death to deal

with. so really is very important to, to tackle the short term crisis that countries facing. and financing is not the only solution, but it is part of the solution. of course, there will be deeper reforms needed. and in those cases, in those countries where depth is clearly unsustainable, depth restructurings will be important. so we need to move on all those fronts. but really the existential nature of the threats that countries facing, i think, requires a different response than the fiscal prudence. but at a time like this, really what's called for as a tackling this crisis had on the south african president finally. so around phase has also more help with debts and the g 20 did offer relief on debt repayment, but it's the private investors who have failed to contribute. what can the m f do to facilitate that? it's really very important when it comes to death, to recognize that that is quite

a look of his throat and a, the in country in terms of the data pressures that they're facing in terms of the solution to the challenges. so we do quite a lot of work, of course, with individual countries to identify where get this clearly an sustainable and then those cases provide support which, you know, in some cases it's the 3 profiling that's needed in other cases, deeper restructurings. so in a very country specific way we are working to identify what the optimal way of moving forward is. but again, you know, i want to stretch, that's the death situation in the region is really quite, quite diverse. you have a lot of countries that have, are facing fiscal pressure offerings in quite a lot of challenges, but are able to continue financing themselves through the market or relying on either sources or financing. but you have also have some countries where the situation is really quite difficult and you don't want those countries to to be

paying debt, particularly at a time like this get. so getting relief for them would be important. so really as country specific and we're working in a country specific way with our thought a piece of maybe selassie from the m f. thank you. thank you so much. the now what's important, unbridled to rampant corporate. great. so social cohesion, well, it appears that china's shooting pain has made a call a call that's taken us swipe, but some of the country's biggest companies also wiped out about a trillion dollars of chinese shares listed on the mainland in hong kong. and in the u. s. over the past week, it all started with a humbling of chain as riches man, that's jack moore offered challenge regulates re concerns about the stock market listing of his and the group. the central bank wasn't keen on tech. john's encroaching on the banking sector without proper regulatory scrutiny and

protections for consumers. the property tax was next soaring prices and cities had price taught. residents in the young age is threatened to build more social housing and tighten the financing of developers. well, president, she has said housing is for living in and not for speculation. the sector has been regularly used as a tool to stimulate the economy. and then there was more pain for the tech sector after ride hailing at dd floated in. new york regulators weren't happy with its data security practices. next, the $100000000000.00 online education sector was brought to hill beijing said it didn't want hard press parents pay more money for after school lessons. and this week, state media, his out at gaming companies call them spiritual opium for young children. there's plenty to pay care, and i'm delighted that we're joined by daniel ives from new york. daniel is the managing director of equity research, where bush securities, welcome, daniel daniel. first out, so for 40 odd years,

china's allow this be i read their own version if you like, of capitalism to florida. but now it's instituted this cracked down. why do you think that's happening? welcome. in the scale of scope of this crackdown, it's something that's really caught investors by surprise. and you've seen it's black cloud over chinese tech stocks. you know, i think in terms of sort of them asserting control in terms of especially i'm big tack with bob g, d, g, d, and others continuing to get larger and larger. i think there was a little sort of that this crackdown showing ultimately who's boss knew in terms of from beijing but, but in my opinion it's really ultimately been a debacle in terms of the way that the scale. busy and how quickly they come down, it's really come out of west field. and when it's done, it's put a major anger on the ship when it comes to chinese tax stocks. and that's why there's been a massive rotation out of the china tech sector. so what do you think behind this

is, is it real altruism or is a more business like alternative? no opposing the former. i think it's something where you're starting to see. i mean, similar what you see in the u. s. with sign names, google, apple, amazon. but, but in china, if you look from ali baba to gd, to dd, to buy do just expanding more and more. and i think it started when you look at the and financial i totally was, was really a show bopper situation. and as these big tech companies about more and more powerful, i think is really scared beijing, i think it's sort of happen pretty quickly. this is them asserting the more of an iron fist in the crackdown but, but the problem is the way they've gone about it. it told me as a $1.00, 0 $1.00, how not to do it because it's come out of left field 24 hours later. the rules

change and investors ultimately are, are holding the bag, right. i mean, the stocks of massively underperformed, and i think for these companies to regulatory goal post, no one knows when you wake up in the morning what's going to be new, whether the gaming, tutoring, stocks or e commerce, and it's really turned into a har movie when it comes to the china tech sector, right? so it's taking everybody by surprise, but there is always when is, there's always loses, right? in terms of finding a winner here, i'm a radically the winner. it's by us path because if you're a global investor and i heared from investors in the u, as europe and asia, you're just seeing a massive rotation from chinese tech to us tech companies, even though still regulation. so if there's a net winter in the us tack, but, but in terms of, within china, i mean, this is really across sectors. your termination was powerful companies in china, from a regulatory perspective that crackdowns hurt them. and now i think even though right

now, investors are trying to figure out what's the next step to do the ultimately scale this down or do they keep going down the path? because in was really what are called us china. cold tech war is some of the biggest arsenal are these chinese tech companies. and now the regulatory crackdown is, is really starting to quip the birds wings. and you're starting to see that play out in the market. i expect more european us and other companies really to go out to some of the market share gain that you could see because of the regulatory crackdown and within china this attack on the education sector. it is incredibly competitive business. so it's a good thing that it's perhaps pad down, but when it work, i think the jury is still out because when i think right now, the problem is that you still don't understand what the goal post are from a regulatory perspective. now there needed to be some raining in,

but just like you said, i mean i think it still needs to be played out over the next 6 to a month. there could be some share winners and some share losers. but what this is darlene, you've seen it, i mean it's really turn the sector upside down. and wow, the companies themselves don't know what the next step is, right. what about the property market? the president says, houses if you're living in, but it probably has always been a core element of any economy, isn't it? yeah, i mean that's why it's, it's one of these things where if you've ever invested in china, that there's always been risk and everyone is understood that. but now the risks are really starting to percolate and really ultimately get to a point that to own any sector within china attack is almost too much risk for an individual institutional investor and in your scene at massive rotation. and i think right now, just more and more the comments coming to china are perplexing. i'd say head

scratching for someone like myself that's fall there for 20 plus years on the on wall street. do you think this is she paying? aspiring to playing to the far middle classes. why i think there's a little that happening and you may be me and say a lot of specially with what's happening electric vehicles and you're seeing 100000, our cars from the us perspective. fly off like hockey. right? so you're starting to see much more of a class divide in terms of the high end. i think this is a little more. busy trying to rain in for the, for the middle class, but that kept already out of the back. right. in terms of what's happening in china . so it's a little too little to wait. and now that crackdowns coming with the wrong time. and then there's a lot of unintended consequences that are come in, i think even be genes realizing the earned him the consequences. but yet they continue to trip over their own shoes in terms of how i think be communicated. and

what about the knock on affected around the world as, as washington and brussels look on and examined, reexamine, perhaps their efforts to curtail big tech. why is it gone regulatory within brussels? within the beltway, i mean there's rules and regulations drive, and there's also a watching. so there's going to be continued scrutiny. i'm big tact, but it all to me happens more prudently. and i think that's why right now, investors continue, feel comfort with a regulatory framework, even though big tax going to continue get rain. then when you look, even when it comes to fines in brussels, what we're seeing a play out in d. c. it's nothing compared to china and i would argue the us now stars maybe even have a little more position of power the day and even have the year and a half ago because of the regulatory crackdown, because what it started to hurt some of the core assets within china the baba's, the bi due to gd, look at the d, d i p. o,

that's another sort of black guy. and i think that's and that's going to continue to play out here in is a very well call. rubik's cube, political environment. interesting. darya lives from new york. thank you. thank you . ok, a surgeon consumer demand has created unprecedented backlogs, of goods arriving in ports in the united states and elsewhere. snarling global supply chains and ships and shipping containers are an extremely high demand, and the price of shipping has just skyrocketed. effects could be felt from corporate boardrooms to kitchen tables for reynolds is more now from los angeles. the, it's a container, ship traffic jam, the twin ports of los angeles and long beach. the biggest in the western hemisphere are packed with giant ships bringing a flood of consumer goods from asia in terms of the amount of cargo coming in. we have not seen anything like it. we've broken records here,

month after month after month. that the port of los angeles ship traffic here is up 50 percent over 2019. and it's not just here in california all around the world from rotterdam to singapore. a surgeon export is putting a major strain on global supply chains and it's network of ships and containers. it's crunch time really in the container terminals. they struggle to get imports out when the exports in the reason coven, 19, for months, us consumers who are under locked down, cooped up at home with no where to go. so they went online and started buying stuff like crazy american. basically, since the start of this pandemic, after a few months last summer, went on an unprecedented buying surge. and instead of going to the movies or using their discretionary income on travel or airline tickets, vacation, baseball games,

americans started spending, the goods that we bring in from asia just ex, loaded the spending spree, was super charged by trillions and u. s. government payments. people are buying ports are busy economically, that seems like a good thing. but as with everything else in life, there is no such thing as a free lunch. the search has led importers and ex borders to compete with one another for scarce vessels and containers. driving up the price of shipping, prices are up 300 to 500 percent across the board. and who do you think will pay in the end? you've probably guessed it, it's really a significant increase in there's going to be a trickle down effect from this price increase into consumer prices. there might be scarcity of some goods during the 4th quarter of 2021 and the big december shopping season. and as for those pre holiday sales,

instead of these major discounts that are often happening on black friday, that might be a little less just because the cost to actually import and ship these products into a warehouse and get it in a consumer's hand, has differently increased snarled shipping effects, not only merchants and consumers, but growers, like steve reinhold just recently received some information that we could be looking to double the ocean freight costs. reinhold exports millions of apples, but with ships no longer showing up on schedule, he's having trouble getting fruit on board. and even when he does well, i ad for a lot of apple the right and you're up on friday. normally at the 28 to a 30 day boat, right and worse, it was 64 days by then the apples were rotten. how long might this go on? it will take longer than most people expect to into fully unwind and get back to as i said, the next normal. oh, i speak patients is for this se above normal market could stick around for another

12 month, basically, pandemonium in the ports and in the supply chain. better get ready for higher prices and scale your supplies. and that says, i'll show you for this week if you'd like to comment on anything you see, you can treat me, nick, clog al, jazz, please use the hash tag a j, c t c, or just comes an e mail counter cost at l 0 dot net is address, there's more for you online of course algebra dot com slash ctc. that will take you straight to our page, which has entire sites for you to catch up. that's it for this edition of counter because i'm the clock from the whole team. thanks for joining us. the news on al jazeera is next. the news.

news for us is holding the last of its church alphabet. got us john's after a 20 years old war to the conflict call for moser, the taliban is only offensive, claiming proven. were housed by the us government, despite international mediation, if it's what does the future hold special coverage or no do 0. my name's a place where they can truly call it their home groups. thing you know, wanted me to ones you know, you'll enjoy money and i believe is just for us. the prize is money here. yes. yes. who every? no. my nigerian. on august the i care about healthy us engages with the rest of the

world. we're really interested in taking you into a plane. you might not visit otherwise and feel that you were there. the. ready news. ready the taliban take charge of a 9th provincial capital in a gun is on, while emergency talks continue to try to end the fighting. a warning to be all group couldn't circle a capital cobble by the middle of september. i'm charlotte thomas with the scanner stones and harry administer who tell us how the government plans to fight back against the taliban reason it's on a whole rahman.