the mississippi was invincible, but then police arrested him here, a safe house in a middle class neighborhood in the center of the capital, very far away from where most of the armed conflict was taking place. whose men and members of his central committee group were arrested together. this was the 1st time peruvians ever saw. the most wanted men in the country. his capture in 1992, marked the beginning of the end, or more won him by now. it was as if you captured the queen be then total disconcert ensued. confusion followed, and with that came the implosion of the movement. the moment he was captured, the shining path, which depended mainly on him last the war. we may lose man was sentenced to life in prison for treason and many other crimes. the war left more than 60000 dead and thousands more remain missing. those who survived still bear the scars of one of the darkest periods in peruse history. ah,

hello your what challenges there are, these are the top stories is our human ration have been how it across the us to my 20 years since the september 11th attacks us presidents, past and present, joined families at ground 0 in new york to remember the victims and memorial was also held in shanks filled pennsylvania to mark the moment when united a line flat 93 crashed into an empty field. them president joe biden laid a race at the ceremony to honor those killed the f. b, i has released the 1st declassified documents about the attacks, the documents described contacts. the hijackers had with saudi associates in the us, the 16 page report office, no evidence. the saudi government was complicit in the plot. mike, hannah has the latest from washington. president biden instructed the justice department to look through the documents of the f. b. i investigation into the

attacks over the next 6 months and release to the public. what they think could be made public. now this is a 1st tranche of documents to be dropped released on the f b i s web site to a short while ago, and it's 16 pages. it doesn't provide any real revolutionary material. and also it is very heavily rejected. so very difficult to understand exactly what it is saying . security officials in northern iraq sank to drawings with explosive struck outside of the international airport where us forces sanctioned this is the 3rd time the port has been attach recently. there were no immediate reports of casualties. and health authorities in columbia say they are worried about a potential coven, 19 surge next month. columbia has run out of vaccines, and many people with 1st doors, the currently unable to get a 2nd shot. those are the headlines. i'm emily angland. stay tuned for counting the

cost from talk to al jazeera, we can what gives you hope that is going to be peace because the situation on the ground seems to be pointing. otherwise we listen. we were never on whatever road to off migration. we meet with global news makers and talk about the stories that imagine on sierra ah, hello, i'm money inside. this is counting the cost on al jazeera. you look up a wealth of business and economics this week. remember bricks. they were meant to transform the global economic order, with the exception of china, brazil, russia, india. and then later on south africa been a disappointment. we'll take

a look at why and question how long before emerging countries can realistically think of playing that north atlantic older. also this week, zambia, the 1st african country to default on its debt. in the pandemic era, bought a new president has invested clamoring for that, even as he warned they could be a big hole in the finances than originally. and ship shortages could not millions of dollars from also make a sale. and that's not the only challenge they faith. we talk to the chairman of de la about das, disrupting the most industry. ah, 2 decades ago, the investment bank, goldman sachs, came up with an acronym that was supposed to shift the economic balance of power bricks. that is brazil, russia, india, and china would over time come to dominate the rankings of the wells, which is economies. that was good reason to be optimistic,

big growing countries which collectively represented 45 percent of the world's population. the leaders began to hold regular meetings. they started $100000000000.00 development bank. they even invited south africa to join the club to complete that acronym. but 20 years on the group has really failed to live up to its author expectations. well, most of them take a look at this just on g d p basis. china has stormed ahead with cumulative growth of almost a 1000 percent since 2001 that's almost double the gains india has made. and you can see south africa that lagging way behind the others, brazil and russia. now this is growth during the pandemic. china managed to make a strong recovery, 2.3 percent to the good in the, on the other hand, had a terrible pandemic in so many ways. everyone else on the list offered to i'm find

me this chart. these are the top 12 economies back in 2001. china is ranked at number 6, brazil fits at 11. you can't see india and russia, but they all in the top 20. and this is the top 12 in 2020, china's jumped 5 places. they're now the 2nd biggest economy in the world. india climbs up to fix place while brazil drops out of the top 10. so let's go through the brit countries in a little more detail in the 1st of all. and even jim o'neil, the economist who coined that bricks acronym, has acknowledged it have no simply disappointed in recent years after a series of missteps by prime minister nor in de modi. he abolished the most commonly used bank notes, failed in his promise to create 10000000 jobs a year. and any hopes of creating a 5 trillion dollar economy could be pushed back by the pandemic. the knock on effects of covert have seen millions of people in the middle class drunk back into

poverty, brazil and russia, while they are far too dependent on the wells commodity cycle for their development . both missed great targets in the last 10 years, with russia's troubles compounded by sanctions over the annexation of crimea, and its interference in the us elections. and finally, the south africa, the addition to the bricks, while on the 9 years of president jacob zoom as rule, i'm a $13000000000.00 was allegedly looted from the state. his imprisonment for not cooperating with the corruption inquiry has led to riots. but already there was so much anger in the country where unemployment sounds out of record 34.4 percent. okay, so let's get into all of us with edward gloss on skype from london. edwards, the emerging markets economist at aberdeen, sounded investments welcome to count, take the cost that jim o'neil has joked in recent times that maybe rather than

breaks he should have coined the term ex was the right to highlights the growth potential of these nations. i think he was obviously in the 2 thousands the brick economies i think, did live up to those lofty expectations, rapid growth, structural reforms over the past decade or service. it's been very disappointed in the past decade pump joint, who tried to buy crises. obviously we had china evaluation phase crises in brazil in russia. so it's not been a great last decade for sure. so what went wrong from priscilla and russia? why haven't they hit their full potential? i think it's a combination of things over the external backdrop has become much less favorable. commodity prices have have collapsed and they've rebounded more recently, but they're structured much lower now of course, domestically that they have had problems as well. so in brazil, those big corruption scandals that hippe hippe areas, presidents and of course in most you've had,

you've had sanctions which is really crippled the economy and financial markets to where they ever really a proper block because they did meet regularly. they set up an infrastructure bank, but it also feels like they were kind of thrown together. yeah, i mean, i think they all, they'll still meeting regularly or annually at the conference, but i think i know these meet can tend to generate very few headlines and very little substance. so i think it's more than the kind of big fat piece. and now the case where, where the, the major events don't really crave much of a major substance. so what are your thoughts on china now going forward? is it just going to continue on this trajectory of continuous growth? but there is 22 main questions from china. really, one is kind of near to one. and one a longer term was of course as, as with most ems still grappling with with cove it and in particular is 0 cobra

approach. the crisis is really common on the scrutiny so that there is a question mark about how paul is to make his move forward with, with the cobra policy and whether they, when they relax that policy. and then the 2nd one is just more generally kind of the extent to which structural growth is slowing. you know, always seeing, we've seen very weak growth numbers and over the past few quarters, how much about cyclical? how much that stuff. and if it is to show how to policymakers actually start to really boost growth from hair post cove it. what about time is push the common prosperity. that's not trillions of the body of stocks. yeah, i mean, i think, i think this, this, this column prosperity, goal is so many policies and that kind of come along scientist for one of the main challenges for china is obviously of the to regulate humans and to craze massive ripples and funds for markets. and the key question, as always with china's policymakers is how did a structural growth and how do they, how do they kind of limit the funds for one abilities that may be growing on the

surface while also trying to trying to be growth. and i'm preventing kind of moral hazard and the why the financial system. what is interesting is that all for original nations also were led by populace leaders. now clearly some countries have suffered. but what does that tell us? well, i think it tells us the pop populace can popular has good size and but size under the external environment populous problem can be good hanging in the word. there's nothing inherently bad about having popular policies. the problem is that when the external backdrop becomes unfavorable or when you have extra micro vulnerabilities, then populists can often create funds for market volatility because they continue to continue to use popular policies can exacerbate these economic abilities. so i think it's all about the context and turning to india. what do you make of movies

handling of the pandemic? how they live, doctor expectations? because he hasn't delivered on his promise to create those 10000000 jobs yet. yeah, i think obviously colbert has, has to say the least, but phone will span are the works of promise i think mode is handling the pandemic has, has, has been weak, but not necessarily any weaker than policymakers elsewhere. you know, looking, looking at austin are for example in brazil. i think the key, the key task now for the government is to really ramp vaccination race because places like brazilian and china have, haven't really done quite well on the backs nation campaigns in india. and i'm also south africa has have really struggled on that front and that, that is the key to promote in his government at the moment. and we're good to talk to edward gloss up speaking to us from london. edward is the emerging market economist at aberdeen standard investment. the news el salvador has become the 1st company in the well to adopt bitcoin

as legal, tender. the president has declared that the future for the country, but economists a warning that using b volatile and unregulated crypto currency is a risk. john holeman reports from a launch, a stuffing town where bitcoin pilot projects could full cost for head. this is where are some of those big coin experiment? again, it was on say, a small surf with 3 years ago in anonymous donor, a local people digits. well it's, we've a bit the crypto currency. now the countries expanding the experiment nationwide side with those about to become the 1st country in the world to use bitcoin as legal tender. it will run, it's another option alongside the current currency, us solar. we travel twelves on tape to find out how the pilot program is gone and what it could mean for the rest of the country. we found plenty of, infuse, just like 70 percent of people in el salvador doesn't have

a bank account. he's big coin. well, it's a way for him to put some money aside there, but i have a low income. i don't move much money a little i have, i spend on food. so with bitcoin, i can save up and that's the big coins. growing up in value is seen it's small savings, great to the problem is the big point swings down as well at times heavily of the people here are set up with that is if it's tough because it's unstable. for example, if you take a surf class and pay with bitcoin, i can accept it. the next day it goes down and there are losses for me. it's the same for the bar, the shop everywhere. and imagine that volatility nationwide, and one of the poorest countries in the americas, it can make the government's decision, seemed like a blind bet. a recent survey shows many people here might not take that, that to 3rd say they don't want to be paid in big coin and the facilities, the government hardly putting together the new currency might not convince them.

when you want to cash out your big quizzes, the actual dollars, you have to use one of these special atm and the governments as a setting up to 100 of these across the country. so let's see. do this. ok, and then the money should come out. the only ticket here is that these actually charge about 5 percent of commission to do the service that's already been enough to put of some of those on why not just use dollars. one group who might see the benefits of the system, commission, or know a criminals who will see a number regulated, but state sanctioned currency were not us. that has been us. one of the advantages of bitcoin is deana emitted, but for regulators, that's one of the risks. so the worry is that al salvatore turns into a fiscal paradise for those who want to launder money from drugs or corruption. the president has been emphasizing the positives big coins will bring jobs,

financial inclusion, and investment. he says, especially as salvador will be the 1st to use it. the question is, will the country become a trailblazer will simply sink john home and how does it say, salvador, let's move to zombie now, which became the 1st country in africa to default on its debt. g to the pandemic, zombie as problems. pre date, the pandemic, and a lot of that has to do with dependence on copper prices, tanked and africa. the 2nd biggest copy exposure found it difficult to meet its payments. and the government's been spending more money than it's been collecting in revenues. but in the last 2 weeks or so as currency in bond markets have been on a tier and that has a lot to do with the election of hockey and h l. m, as the country's new president, his finance minister hope to strike a deal with the international monetary fund for loan was ambia, have debts of about $12700000000.00. the international monetary fund could provide

$1300000000.00 in loans, but they are long term problems. the currency, the quote ger has depreciated 344 percent in the last decade, which is sent inflation to almost 25 percent the highest into decades. gregory smith is with us now. skype from london, a former, well, bank economist in zambia, an author of the book where credit is due, how africans debt can be a benefit, not a burden. and he, thanks for joining us on counting the cost mr. smith. so where did it all go wrong for zambia? is this another case of the resources, cuss design, be an economy? it's been under real pressure the last 5 years and hasn't changed as much as it's potentially suggest. so wouldn't say it's all gone wrong, but there's a big mess and a lot of effort needed to turn the economy around. and it's true that the zambian economy is very dependent on copper. but the notion of the resource curse to me

sort of spells a sense of doom. and i'm an inevitability of challenge. but i think the ability of zambia to produce copper is also a huge opportunity. and as the world moves to net 0, we're going to need a lot of copper. and so i think zambia can work with the resources, it has and produce much better economic outcomes for citizens. while the currency and bond markets are clearly liking what they're hearing from the new president, are they getting ahead of themselves? with the result of the election, there was a huge boosting confidence and both the zambian quite so rallied as did the 3 bonds ambia has that trade on global markets. and since then the euphoria has tapered a little bit. and i think while the, i think this is sensible because anyone buying those bonds knows that they're in default the interest is being paid and what investors are doing. they're looking at the price of the bonds versus what they think they will recovered. and eventual

restructuring. so i think the next bit of confidence would come if the government couldn't get the right people in and we've seen some announcements of the cabinet so far and they look good. but then next is the policies. these ministers come up with the, the national budget bill set the, the fiscal saying for next year. and then from that we can work out whether they might get the supports at the international monetary funds. the new president has warned as possible, more debts than have been declared. how worried you about those? yes, i'm always worried about that. i analyze debts in many different countries. and in my book i write about how it's very difficult to define debt. there are many different measures and it's, it's, it's a complex matter and one countries measure is different to another. i think the different states that some people are arguing over what, what that is dispersed actually has been paid and what is contracted. so when you get the numbers from the ministry of finance, you get one number. but if you add up all the different projects you've read about

in the newspaper, you might get another number. and the other difficulty is what, what to include in the. ready the nash debt view includes state and enterprises like electricity, utilities, and things like that. and if, for example, in zambia, those have huge assets like hydro, electric dams but also debts. and it's a decision whether you put that on the government balance sheet or not. but then what we've seen over the last few months is the government, the form of government that was voted out just now, or hugely on domestic market between april and june and the run up the election despite already being in before that that's. so that's a huge mass to unravel. there is always a tail risk of hidden debt as we very tragic the so remote m b, but that remains a tail risk and for many countries. but i think the biggest problem with that stocks is working with what the definition is each person using intends to in, in order to reconcile the numbers properly. now, one that we're sources and africa,

we often find china is trying to influence to power phrase your book, a benefit or burden. there's all sorts of chinese engagement in africa, in trade and business in diplomacy. and also a huge scale of lending. china has been lending to zambia since the 70s. it started with a very large railway that would link zambia copper mines to doris alarm on, on the nation coast. and so we got a long history of this, but it had scaled up massively in the last 10 years. and that's why it's a whole chapter of my book is dedicated to china's lending and it pops up all the way through in the different chapters. and i think when i look at chinese landing, i've lived in zambia and travelled around the country. i see some wonderful projects, one and some, some dams that will produce electricity and in a carbon free way. and at the other end of the spectrum barrel, there were roads to nowhere, and there are expensive projects. so it's very difficult because there are many different chinese lenders, many different chinese types of loans. china is also evolving as

a lender. it starting to provide relief, it was doing that before the kobe pandemic, can you see kenya, and then go la. and since the pandemic has been providing debt suspension, their child is also changing as a lambda. gregory smith, really interesting to get your thoughts. gregory a former well bang economist in zambia, thank you. finally this week you might have heard about a global shortage of semiconductors. the chips which operate all sorts of electrical products while as a result comic his sounds lose billions of dollars in sales this year is estimated . $3900000.00 cars will not be made or that's almost 5 percent of global production, which will wipe out sales of a $110000000000.00. even so flashy car shows have started up again though even they are evolving as re simmons. when to look at some notice in munich, 2 years without a show when now europe's biggest comment,

good. germany takes center state asian gentlemen. the id lies lots of razzmatazz and not a gas guzzler insight. here attempted to come and nerves of around $808000.00 german workers. dependent on the car industry was the outgoing german chancellor on discipline. and we want to pick up where we left off and allow the economy to really catch up. again. this can already be seen in the motor industry. even if some supply bottlenecks, a costing shadow is at the moment. those shadows take some of the shine off, electric car sales. the weakest link isn't range anxiety, your recharge infrastructure. it's the chip many millions of desperately needed semiconductor microchips to be exact. it's serial. i mean, there are many factors that have to stop certain production lines because they're missing out some c p o that they have to build into the car. and this will go on for a couple of months. while the motor industry itself is doing really well,

the shows promoted have crashed, cancellations because of cove. it have cost organizes more than $40000000000.00. even before the pandemic, the shows were losing money. so now, although at 1st sight you might not realize it, there are changes. it's shiny, it's new, futuristic, contemporary. but you might be forgiven for thinking this is akasha. the organizers say no. make over is underway. corporate consultants have dropped the word car from the events name. it's now a mobility show and the consultants have come up with what they think. a catchy questions. what will move those next foodstamps may be this or thomas bus, or for those of us old enough to remember the bubble car. this one has its own brain. all electric motorcycles powered pedal bikes. another question, why are we here?

well, many big names from the united states and elsewhere didn't show up to answer that. the electric car is secure, the road ahead is green, but for the mobility show, the future may not be as smooth run. andrew simmons al jazeera munich. well, in addition to that report from andrew economics editor, i bet ali had the chance to speech the chairman of daimler, better known as basically mercedes. he arts all i can yes about. among other things . the electric challenges from the lies of tesla and china's near we are accelerating our path towards full electrification. and indeed, by the end of this decade, we wanna put the company in a position where we can go all electric, where market conditions allow and already at the middle of this decade, every new vehicle architecture from mercedes benz will be electric only. and on the path to the dime us a hole in the next 5 years will invest more than 70000000000 euros in these

transforming technologies to make it happen. you mentioned the electrical touch it and there are going to be a lot less moving parts, particularly in the engine. what will that mean for jobs? there will be a change in profile on some jobs throughout this transformation this decade into the next decade. where some of the jobs that we know on the power train side on the combustion production will decrease. whereas we have job increases for the electrified power train or in totally different areas, such a software where we are currently hiring thousands of software engineers. the pandemic has really hurt supply chains in particular, semiconductors. when will the bottom that clear up and what does that mean for production? code 19 has been a real stress test on many supply chains, including the semiconductors, which is affecting us. now,

you could maybe look at it as a traffic jam on the motorway. everybody stops and it takes a while before all the car. so moving again, we hope and believed at this quarter. 3 represents the trough of that impact and we can gradually start getting back up again in q 4 towards more normal production levels. do you think the use desire to produce more chips in europe is realistic and beneficial. would have helped join the pandemic strategically. that is the right decision. but this here we're talking about something kind of 25 or beyond what you can do and foresee. and this is where you have to live with a certain level of uncertainty. the recent shutdowns have been because of cobra. what tests affected are supposed to shut down in malaysia. if you have a panoramic where you have to shut down a piece of production, i don't know how you would plan for that. do you have the battery capacity to deliver your ro lights treat cause we have source with our partners up until the

year 2025, maybe beyond 2025. now we are accelerated strategy in 2 electrification weighed. 200 gigawatts hours needed by the end of the decades going fully electric were upping the ante and were discussing with our partners how we can increase the cell production footprint for us around the world. as well as working on a european initiative in this regard as well, on our calendars. she picks a few, mercedes, thank you for your time. thank you for having me. that is all shy for this week, but i want to know what you think and what you want to see on the sweet o d a. make money on. if you're tweeting the, please use the hash tag a j or emails. maria thing counting the call that out there at dot net. all right, and there's always more on line that's out there. adult last counting the call. i'll take you straight to our home page. all our previous episodes are up to catch

up. but that is it for me, this position of counting the call time money bite from the whole team. returning up beneath and i'll do, they're coming up next. use one of the fastest growing nations in the world. i want a needed to open and develop it into national shipping company to become a team, middle east, and trade and money skill filling that out. 3 key areas up to about filling up from the connecting the world connecting the future. got got to gateway to whoa trade. when the news breaks on wednesday, it was the largest fire in california history. when people need to be heard, any people who are arriving, they don't even know what i am with exclusive interviews. in this report

has teams on the ground with intensifying rain. people here appear that these are temporary solutions to bring you when you document trees and live need ah, marking 20 years since the deadliest attack on us soil on the ceremony that held her mom, the victim of the 9. i live in a town. ah, hello, i'm emily angry. this is l 0 alive from joe. how are coming up bearing this guy.