of carbon dioxide emissions and create tens of thousands of jobs. a painting by british st artist banks which became famous for shredding itself is sold for a record of mud in london. and selling latest delivered for new world record the bank, see lovers in the bin. salty, leaving out love is in the been sold for $21900000.00 is solid, is auction house apiece was previously titled a girl with balloon and sold for $1300000.00 in 2018 for immediately self destructing and a paper shredder or pain collector, sir. ah, this is odyssey, these are the top stories be roots been rocked by his worst dave st. violence and more than a decades leaving 6 people dead and dozens injured. protesters were targeted by unidentified snipers, positioned in buildings, residents,

michelle own as address the nation condemning the violence. well sir, i know you said that the we will never allow anyone to hijack the country. what has happened today will be followed on both levels of the judiciary and the security, and the investigations will reach the reality and the tooth. and the effects among those perpetrators will be taken to the court in the investigation of the boot port blasting, continued it because it's a commitment towards the lebanese people and towards the international community law. based on the independence of the judicial grandma does. a taliban delegation is in turkey as a continues a diplomatic push for support and international recognition. it comes a day after talks and cotton with a group appealed to u. s. a. european officials to end of canister hands, isolation, you as president joe biden says his country will donate millions of corona virus vaccines to the african union. he made the announcement while hosting canyon president who kenyatta the 1st african leader to visit the white house since joe

biden took office in yet, has facing scrutiny, was offshore. holden's revealed, and the so called pandora papers, taiwanese authorities are investigating whether a fire that killed at least $46.00 people was started deliberately. dozens of others were injured and thursdays blaze at a 13 story building, which was made up of small shops and apartments. georgia's opposition has held a valley in the capital tbilisi to protest against the imprisonment of former prisoners mikhail successfully. the government says he entered the country illegally from exile. suckers really no faces 6 years in prison on allegations of abuse of power. while an office has been on hunger strike, 14 days there was at the headlines. the news is going to continue here on al jazeera in about half an hour after inside story. good bye. ah.

the latest technology to toys, building materials, and even so many products are in short supply around the world. so what's causing the supply crunch and will this mean higher prices for us all this isn't like story ah hello, welcome to the program. i'm in bronchitis. a supply chain crisis is threatening to derail the wells. economic recovery from the pandemic. you small phones, toys, clothes, and even christmas turkeys are among many items, not reaching consumers and less of blaming what they call

a perfect storm of problems. dozens of cargo ships a stock off the coast of southern california in the u. s. there, waiting to unload containers at ports in los angeles and long beach that handle almost half of americas imports. that backlog is pushing up prices. shops, a warning them t shelves ahead of thanksgiving and christmas. u. s. president joe biden says the ports will now work 24 hours a day, 7 days a week. delivery companies are major retailers are also working overtime. this is across the board commitment to going to 247. this is a big 1st step in speeding up the movement of materials and goods through our supply chain. but now we need the rest of the private sector chain to step up as well. dark goal is not only to get through this immediate bottleneck, but to address the longstanding weaknesses and our transportation supply chain at this, pandemic has exposed the problem was the main focus of a meeting of g 7, finance ministers in washington on wednesday. britons richie cynic said,

they agreed to work constructively towards a solution. the u. k. supply problems are compounded by briggs it and a shortage of truck drivers. cargo ships have been diverted from britain's biggest port container terminals in europe, or at full capacity as well. we see this issue am actually in all major european ports, but also ports across the world in the u. s. in china, there are disruptions and because, you know, due to the, the, been, they make the china which is basically the factory of the world and stood still for a couple of weeks. and then they started production again that created the backlog . that created the disruption. in the meantime, there been other global disruption, such as the incident in the swim channel, the brick seats, and in the factory of the world, a china output has slowed down for the 1st time since the pandemic started, several provinces are suffering from power cuts and electricity rationing the price

of commodities has gone up. a major index measuring the cost of goods for wholesalers, rose by 10.7 percent last month, the fastest jump in 26 years. ah, that's bringing our guests in newcastle, jazz at keller, assistant professor in supply chain management at new cost of university business school in the anti china. dan wang chief economist at hang sang bank china and in plymouth. stavros can, i'm pre this lecture maritime economics. and the head of the maritime transport research group at the university of plymouth. welcome to the program. let's begin in new castle 1st. we just color as i understand it, the most simple way of describing this global supply chain is the fact that it works on this kind of last minute principle. the idea is that with frictionless borders, with a all the supply chain working at once, everything gets to the shops, everything gets the stores just in time, nothing has stockpiled. and for that,

for decades, that system has worked for the most part. but now with the pandemic and with briggs it and with say, shortage of workers, those that last minute principal is being really test it. is it still working? is it still the best way? i think the whole principle of just to time production and delivery, it's bugs in certain settings and it doesn't buck another setting. and it's really important to distinguish between the 2. so just in time, of course has good benefits in times all that is evidence approach. it has everything to be done, but it's a good quality. no cause, no time method of delivery. however, it also makes up like it really wasn't right. well, because a lot of organizations i've adopted this approach have done it to achieve the local know inventory benefits. so to supply chain of all right, well,

let us talk about these things happen. be find that how reliance on our global supplies of our global supply chains and bothers on the friction that i'd like to be. so this ben pandemic or any exists in a shop, a car, bees on their abilities get exposed, and then we find out the problem with this system. and we need a more of a system or a hybrid system to combat this. and you until done, why is it simply than that actually we just have to deal with these problems on there because i don't occur that often. and this is like a very one off event. as it was, like the pandemic briggs that supply worker shortages, that kind of thing. is it simply that this is just the cost of doing business? i do think it has a lot to do with college and how different governments deal with college. the reason why china has and last severe problem in its domestic supply is because the

government has strong control over depend damaged breath. but if you look had most of garments in the world, actually, they have already become very flexible in what people can do. what workers can do and that ask, disrupted a lot of production process. and on top of that, the shipping cause has been extremely high and it doesn't look like it will come down anytime soon. so this as to. ringback the power shortage in china. so i think this problem will continue to at least the end of next year. but is it simply done with the cost of just doing business like you just have to adapt to when things like this happen? i believe so because a event like this is highly unpredictable. nobody knew that there will be a supply chain disruption in the scale. and when people look out to the post to call the situation last march, all a sudden every country was in the shortage of math and a medical devices budget. people just people respond and factor responded very

differently. and we have saying that china motivated a lot of his domestic manufacturers and effectively solve this problem within 3 months. the foremost economy, they do not have such industrial foundations. so they have to bear at a cost of waiting and eventually import max from countries like china policy on thursday. and so sorry, i was going bring your point to several current paraded susan plymouth up. so is this the but look, this is the only system we've got, it's a system that does work and sometimes breaks down. but is it the new system we have? yes, it is the only system that we have, and i think it's a very reliable system. the fact that we're seeing some kind of distractions at the moment. it makes sense because according the latest that the sticks are, we have a 16 trillion of use dollars that this customers want to spend. and that kind of money has been saved during the bundle from people not going out for eating and all

the other social activities and all that kind of stuff. so people are now going out there spending money craziness. we have an increase in the month of 6.5 percent compared to 2020. and you may think the 2020 was kind of anomaly which i agree with you. and then if you compare that with 2019, that is bringing the demand of 3.5 percent. so in 2021 we have 3.5 percent more demand. and at the same time we have ports of the striving because of coverage. we have lack of containers, we have a lot of disruptions who the overall system with lack of truck drivers in the u. k . all over the globe. so that is kind of causing us more problems, which as you said, they learn is, is part of the business. you know, we really have to deal with that. and the business sector is doing that. does cover the business sector is dealing with it. i mean, you look a bit skeptical there. yeah. because i do agree that it is one. it a lifetime event. it's a big extended shock. some people are calling it

a block funny event, but i'm off the opinion that we have had version of such events, smaller scale, but we have been fi disruptions since 201140 and you know, every time i feel like and destruction occur, we try to deal with the solution rather than thinking about more long term solutions that be that we can probably event. so for example, one thing that i'm particularly if you take the example of co is what i, what i think is that it is a global problem off supply chain of global. however, you know, corporate us for governments to, as they, as they should at this time, to look a lot more inputs and they, they're trying to deal with the corporate situation. but locally, however, that, that is going to affect the links between these, these notes. so we have to think about them and we have to prepare for any future events. i think we have,

we need to rethink the supply chain strategy. yes. you know, i know that, you know, people have been appointed points to fantasy to say christmas. but we have to think beyond that as well done work in china. one of the things that global government seems to be doing is actually passing the buck. and oftentimes that book stops with china. lot of people are blaming china for this. they say, well actually that's where the disruption begins, and if there is disruption in china than that fix the entire global supply chain. is that a fair criticism, or is it just once again, blaming the biggest country? ah, because china is the biggest a manufacturer in the world and also usually the largest trading partner of most countries in the world displaying has some foundations. because right now, the biggest problem for china's manufacturers is that they don't have the shipping capacity to send those goes out. even if they're producing enough, they're usually one to 2 quarters behind when they actually hold a container. so we have saying that the companies in china, in closer regions,

are declining new orders. the power shortage, certainly as to the wall of this whole misery. but the biggest bottleneck is still shipping on. chinese companies are simply cannot guarantee the shipping delivery several in plymouth just before we came on i, my executive producer was in the pockets of oreos and he made the point that perhaps we should be eating locally. that one of the things, one of the reasons for this is that we should be more likely to pointed out the actually the oreos were made in america is, boy, is this getting people to try and look up, eating more food locally using more local manufactured goods is there a way around this crisis to, to be honest, i don't think so. that's a problem related globalism at the moment i have because even if you see what's happening the day, for example, a lot of local producers are saying that we don't have enough manpower to slaughter some of the animals. so even if you try to read luckily,

that means that we don't have enough resources at the moment, so we really have to start seeing holistically up on the overall supply chain, how it's operating and what kind of factors that are that are affecting it's so at the moment you quietly, right, you said that coffee is affecting the supplied zane. you may have heard the news that we're having some students here against hitting time at the moment. so again, we're going to have more disruption and sign his boards. and at the end of the day, it's not on, it's, i know if you see us as well, we have a lot of vessels coming out there. europe, the same story as mixing in the be those before. so it's a matter of making investments and trying to predict their predictable because we had an economic crisis back in 2008. and as you remember back, that would cover we had that increased demand. we had 0 problem since then. now, yes, we have an increased demand, but because we have problems with supply, which those what progress i'm weak, the factorial, it's kind of difficult to navigate through them and predict them. so i think that's the problem we have to face and we have to make a more resilient network. does kara in newcastle politicians

a warning now that there will be shortages in the near future? obviously they are thinking that this is a serious problem, but i can't help a think if you're warning about this now, then it is going to be a problem. but the basic, underlying issues haven't changed with this a long term problem, right? i completely agree. this is more of been in a bit more time posting that yes, this is going to occur. and on some level it has pretty good planning, buying as well. so this problem is likely complicated. a lot more actually by these announcement, but yeah, you're so right that this is a long term problem, particularly take your sample code has only complicated the problem that was already there, which was entering into negotiations that they could open the union. and i'll say it depends a lot on that. so you know, colon combined, but greg said has actually made it

a long term problem and that's going to leave. but the you can be the long term solution. i completely agree with the point there. that's why we need to think locally and, and what i would like to say on that is we need to take about a line that will be developing supply system supply chain, so that rely on local capabilities. the problem is that we, a lot of organizations are solar lined on global appliance. we don't even know what local abilities are, and actually that might lead to changes in the types of demand for the types of demand patterns. so i think this is a long term problem, and we need to think sustainable long term solution. otherwise it will just come back again and save time next year. buying people that bought 60 percent to 70 percent more or more of christmas gifts that they did last year. so is that what they're doing is that they're buying early. so it,

this problem is actually going to complicate, done learning in china. listen, is more easily hurricane way of looking at this. all we demanding infinite growth from planet would finite resources. and actually what we're doing is we're buying way too much. and actually that does need to be a readjustment of demand or is growth everything. while the ward is suffering from consumerism, this point i agree with you, we probably can tolerate spending a bit last on individual basis, but when it comes to the supply chain, it is a very different situation. now from 30 years ago, countries have to balance their own patterns. all countries, like britain and the u. s, have probably permanently lost their ability to develop a made range and lower and supply chain of their own. and if we look at the global, good about 80 percent are produced and sold locally. only about 20 percent of the

goods are doing international trade. they're traveling around the world. and amanda is 20 percent of global. this is very unlikely that any of the countries did not have the capacity can suddenly debacle. capacity is either because the higher land cost or higher taxes or labor costs, they just simply cannot. they have to rely on i c n on china. so i think this is a new reality. people have to adapt to, they can just develop or to or expect a parallel system. one, rely on the regional supply and why rely on the global supply is just simply not a reality anymore. and several sure, electron maritime economics and at the head of the maritime transport research group. i mean, what do you think of what don juan has just said? i think there is, i sense of truth missing that one. so we really have to start thinking that again, we haven't managed to find the x product that we're looking for. why we can buy the

y. so we have to increase or bits or be a bit more open minded, let's say, in the choice that we're doing our customers. because i think that will help us to navigate through those crises. which as i said before, is not dealing with globalization. i think it's going to be over past quite soon from the business sector because we have to sell goods and that's the way to prosperity. and that's how we've managed to build up our economics models for many, many years. and so i think the future is that yes, we can buy more local stuff ah, yes, we can think about the choices. but as one sent earlier on, we really have to think a bit more holistically and try to find out better options. let's put it that way. does kara, if you're advising, say, the american government right now, the british government even right now, and i understand they both are very different problems when it comes to global supply chain management. what is the 1st thing you're going to get a, the americans to fix and be the best use of things? well, on the mediator, on the more or a shot and a shot,

the images. i would really like the u. k. government to think carefully about the relationships that be happy to european partners and get that sorted is the right way because ignoring some of the crisis situation and get uncovered. bonham because yes, corporate as complicated situation, what the problem was already. so i think we need to, as a nation, we need to think about cradle my case more carefully develop local capabilities. yes. be we also have the challenges around the challenge for also building back better. luckily that's, that's really important. so that's, that is something that we need to consider doing and also as relationships and get them to the rear of the problems that we have. but more american, my, my advice and i said they caviar because i know less about us the u. k. but i think

i'm very concerned about the grandfather bitches. the big line that we have right now, but they are there. the containers are not, not, not taken off the ships. so i think we need to resolve that problem. we need to get that. get that issue right? they do get to the shop. they have wal mart and they have union 247. what, how sustainable is that? so i can be thing beyond the shopping solution. so we need to, we need to solve the problem. then one in turner, if you were advising the chinese government on a long term solution or long term, even planning to deal with this in the future, or would you tell them? well, the chinese government has already emphasize the supply side, the reform which essentially around supply chain security. and number 2 is for security number 3 energy security. so my advice would be they have to adopt more

market base to reform. and in a way, those power shortage and the supply chain bottleneck right now has created an opportunity. we have already seen that in the past months, chinese government has allowed the coal power electricity price to fluctuate more or less based on market demand and supply. so they have achieved more in a month than already in the past decade. so in a way this is a positive force. so we done, i'm going to get you to explain a few of those terms there just for the people who they might not understand home when you're talking about the chinese power crisis, you're talking about a shortage of power within china itself. so there's electricity blackouts, correct? so there is a power shortage and that is because the coal price is very high, but the and electricity price cannot be fully adjusted. only about a 35 percent of china is traded. tricity can fluctuate with market to supply and demand, and the rest is fixed price. so last among,

chinese government actually allowed the electricity price that's generated that's coming from coal power plant to fluctuate. and that is quite significant progress because there was a lot of opposition from the legacy system. federal if you've heard or other guys have had to say, do you still think that this is probably the best system we have? i think so, and if i had to advising the governments not around the globe, i would say that they really have to go see their supply chain more carefully. and they also have to set that risk management exercises and try to think carefully how not to suit convert success is because i think the biggest problems that we're seeing in the moments are taking place in us in the u. k. and that's because those 2 governors have managed to roll out of the vaccines quite quick or weaker than the rest of the ward. and also they have minus to have a to reopen the economies quicker than the rest of the world. so i think that kind of victims of their victories because they have minus 2 opened the economy so fast,

and now they're having problems with the supply because the demand is already there . but the supplies know that to see the demand. so try to think about carefully when you're playing with both kinds of tears when you opened the market, for example, and how the market is going to react to demands. i think it's very important for the need to, to just kara, we are running out of time, but i just want to ask you this question. there is collateral damage when it comes to the global supply chain. it's not just the big economies in the world. china, the us, russia, britain, europe, etc. there are, you know, poor nations who suddenly can't afford to trade suddenly, can't afford to buy those goods because the price has gone up. does that make a difference to how the supply chain works? oh, absolutely. i think that's, that's a big situation, particularly when you have why. and that's why there's this whole idea that we the, the tunnel kept essentially the bonds on the top of the supply chain. from one more

process nation, they need to think about their suppliers more responsibly. by example, been discovered situation started a lot of big textile retailers. they terminated their contracts, but the, but the government manufacturing factories and bundle and it was, it had such a secret impact as well. that's the whole industry both at the break. so we need to think about that more, more, more carefully, that's buying before to get from that country. and we also think from that apply team, we need to think of those supplies, not just as a cost production mechanism, but also as so that they are able to build a sustainable growth over the years as suppliers. i want to thank all our guests jazz camera, dan wang and steve ross. i can, i'm paradise and i want to thank you to for watching. now you can see the program again, any time by this thing, our website out is there a dot com for further discussion here. talk facebook page at facebook dot com,

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places like how is fine lydia yemen, the sa hello region, and so many others. we go to them, you make the effort, we care. we spray aah! i'm roberson, and doe had the top stories on al jazeera bay roots been rocked by his worst day of st violence in more than a decade. leaving 6 people dead and dozens injured. protesters had been targeted by unidentified sleepers, positioned in buildings. troops moved in after gunfire during protest against the judge. legally an investigation into last year's port last, president michelle owen has addressed the nation condemning the violence. what i said, i know you said that the we will never allow anyone to haig the country of what has .