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tv   Counting the Cost  Al Jazeera  January 17, 2022 7:30pm-8:01pm AST

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in the capital which he ran for more than 20 years. in 1986, he was wounded. india's 2nd highest civilian owner in recognition of his achievements in a tweet, prime minister in red, remade, he said, his passing is an irreparable los to the entire ot world. many of his school miss students now stars themselves say his contribution to the world of dance was historic and will be carried food by all those he influenced through his aunt veggie. maharaj was 83 years old. ah, ah. hello again. the headlines and al jazeera 7 processors calling for an end to motion room suzanne, have been killed by security forces. serious was fired at thousands marching towards the presidential palace in the capitol cartoon. at least 3 people had been killed in an attack targeting oral facilities in the united arab emirates,
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the least suspect drone aircraft started 3 fires in the capital abbey, ukraine's former president, petra poor shanker, has appeared in court in the capital key of to deny trees and charges prosecutors or choose general financing pro russian separatists and eastern ukraine. dorsey jer baris, following developments for moscow. he lost power in 2019, but he's still a member of parliament. he's the leader of the opposition group called european solidarity. and he's one of the wealthiest men in ukraine he's estimated worth is at $1600000000.00. he's often referred to as the chocolate king, because he owns a confectionary empire, as well as to tv stations in the country. so he's still very much an influential man, and he is adamant that these charges against them are an attempt by the current government to try and derail attention from the economic problems facing ukraine. miss linda nostril, you have sent flies to tongue to assess the damage caused by saturdays volcanic
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eruption on toonami. communication remains limited, and agencies are increasingly concerned ticket sales in china for the beijing winter olympics have been suspended. the 1st local case of the crown was reported in the chinese capital a few days ago. only invited groups will be allowed to go to venues next month, as long as they stick to coven prevention room. in england, the self isolation period after testing positive for covert, has been cut from 10 to 5 days. the government announced the relaxation to help ease, staffing shortage is caused by a surgeon army kron infections. everyone will be required to show negative rapid tests on days. 5 and 6 of their quarantine. we'll have more news at the top of the hour. right here on al jazeera, but up next it's counting the cost. thanks for watching. the buy me. ah,
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ah, ah, ah, ah, ah, i money inside. this is counting the costs on al jazeera, your weekly look at the well, the business economics this week, the rising voice, the, the employee, millions of young people around the world are quitting their jobs and rethinking the way they live. the walk driving the so called great resignation. it's been a bumping year for one of the wells busiest shipping rooms. egypt service canal. so
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why have to walk away recorded the highest revenue? could on the chrome very nice on trade recovery. ah, a t more or a storm and take up indian businesses loving the government. 10 post taxes and regulations on t imports from nepal, nepalese farm, and say it is a 5 miles who's the pandemic has changed people's lives on, in many cases, the career plans after a wave of job losses in the past couple of years. a lot of employees and now hitting the pause button in the careers and quitting their jobs in droves. at least 40 percent of employees globe lee, all considering resigning in the coming few months. old and 24000000 people quit their jobs in the united states from april to september and a record full point. 5000000 people resigned in november alone the most since the
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government started collecting the states of 2 decades ago. job openings are increasing and wages going up as companies scramble to find employees. china has experienced a similar movement known as lying flat, which effectively means quitting ambitious careers in favor of simpler, less materialistic lives. and started as a social media campaign against a system that requires people to work from 9 in the morning until 9 in the evening, 6 days a week, and yet still unable to afford a home in europe. a recent study by the german based software company persona revealed that more than 46 percent of work as a planning to quit their jobs in the next 6 to 12 months. germany has reported the highest numbers of resignation last year, followed by the u. k. and the netherlands, the increase in resignation among employees is happening while the world faces. another major challenge only cronan is leading to
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a global labor shortage. that is threatening economic recovery with the airline industry among the most affected sectors. the u. s. on the u. k. on taking people infected by korean of ours, out of isolation, quicker to get them back to work faster and joy now from london by grace lawton, direct of the inclusion initiative at the london school of economics. many thanks for joining the program. what do you think is going on here? are people rethinking the way they work and live? is it an employees revolution on their underlying reasons? well, 1st mailing, thank you for having me on the show, i think, and on the 1st case, you know, on the cross is baring it's toll. so we do have people who are taking time off because they've been exposed to somebody would only con, depending on their countries policies, or that they themselves actually have them to call on. but i think on the 2nd side of ish, what was really interesting about cove in 1000 in general is that it did 2 things for people. i think 1st it made debt salience. so people really were faced with
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mortality burden every single day. and i think secondly, for many professionals in particular, it gave them insight as to what it would mean to spend more time at home. and if you couple dash, what was happening with the economy before cold is in money developed countries. so we've had, you know, wage suck, nation, the price, the, you know, the price of housing is actually sort, jobs have become more precarious. i think a lot of people actually relies when they went home. it looked down and cover that . they were basically running to stan sales, so they were, you know, finding it difficult to pay their bills despite working very, very hard. and that caused a lot people to re evaluation. and what we're seeing now are shifts in the labor market as people's preferences change. perhaps having more leisure time at home, and they're figuring out how to make that happen. is it though mostly people completely opting out of the labor market permanently? so i think there's a narrative in the media at the moment that there's some shift in the younger generations towards kind of what they called a low desire lifestyle, which basically means they need less money in order to survive. i'm in less,
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i believe less in that story because i haven't seen it in the data. yes. what we do see in the data is what i recall the great we shuffle. so rolled them people having kind of great resignation. they're choosing different jobs to go into their choosing, perhaps to become self employed, as opposed to work for an employer. and they're choosing kind of overall to work less hours and have more about his life stuff. and that's particularly true for professional workers who are in industries like technology and finance, where the competition for talent is rife. well, that's what i was going to ask you. what kind of sexism most affected is it mostly financing technology. so i think we see kind of 2, i would, i would kind of see what's happening into 2 different places. so 1st you have the pressure for professional workers where professional workers are demanding now more than ever and hybrid working. so would you mind doing a 4 day week? i'm, this is really kind of taking flight in places where there is this competition for talent. and what we've noticed in some of the companies is some of the companies is
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saying, actually you need to be in the office all the time. and those companies have been increasing wages in order to secure enough talent so that they actually meet their deliverables. whereas other companies are recognizing that hybrid working flexible working isn't a mean a see that people want and that they can talk time with. and they've been using that as a mechanism to attract talent. i think on the other side of it, we also see pressure in services in retail, in the minimum wage jobs. so, you know, working in fast food restaurants, working in shops where there are no shortages of breast as waste. i'm people to help you out to tell, and there's been a demand on that side for higher wages, or people are actually choosing to opt at home. and we're seeing that as the bigger china, which is not surprising in countries where they have higher safety nets. and if we go back to this idea of having, you know, a slightly lower desired life, it means that people who are a minimum wage previously might be making the choice to stay at home as opposed to
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going to work on this. they get that wage increase. does that mean the power, the balance of power is tilting to words the labor force? i think at the moment up the minimum wage jobs, the balance of power has tilted towards the labor force. i think it's only a transition because you have to remember that a lot of workers will be actually out sick because of covered. so we see shorts just because of bass. we're also seeing shortages because people are choosing to be less mobile for work kind of choosing to live, perhaps in their hometown world than travel. the child to work has, has shrunk during the 19 i've done, which isn't surprising. so i think for now we're in this transition phase, it's difficult to imagine a time when cove it is no longer an issue. but do you think what we're seeing is temporary or is this a long term trend? i think for the am for, for workers of low wage. i think it's temporary. i think once you know the, the labor market has more adequate supply of breached as people at the taylor and waiters and waitresses, we will see some adjustments backwards. what would buy might changed out is if big
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corporations become more socially responsible, instruct, pay a wage premium to their minimum wage workers, and that remains to be seen. there's, there isn't, there's no evidence that that's coming. yes, i think what's more interesting is the transition phase for professional workers and i, we will absolutely have a legacy of hybrid working. we would absolutely have a legacy of i don't believe it would be reduced our is, but ours that can be conducted more autonomy. so people might choose, for example, to work for days a week, do their 4050 hours and then have friday, saturday, sunday, off people will have more autonomy to work in the mornings in the evenings, particularly in jobs where you could complete tasks all your own and would autonomy this phenomena of people quitting their jobs in great numbers? we've seen that all round the well from china to europe, to, to america. but is it for the same reasons? i think ultimately, i think if we, if we were to ask people they would give different reasons. so people would talk about, you know, way just being to know people would talk about mental health. people will talk
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about burn out. i think it all the countries you've mentioned, those 3 things have actually come up. i think what it was has in common with all the countries that you mention has been this economic pressure on the labor market where we've had a bigger divide between high income and no, no income jobs. even if you're in high income jobs, you do struggle in the beginning of your career to buy a house. you do struggle much more often to get to the top of the pole this much less positions. so in some ways, i think this is a reaction to an economic, this been happening for a long time, where we've seen a big, kind of come between the very, very rich and everybody, us and society. and what the pandemic has highlighted is that people have choices. you can kind of step off the treadmill if you like, and choose something else. so what kind of impact have these math resignation had on the wider economy? i mean, i think we see it already tricking true to inflation. so the minimum wage jobs that i mentioned in retail and take away, i think, you know, people who are listening to the show and recognize that now when they go to the
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supermarket or when they go to get their coffee, it is more expensive. so ultimately, these pay increases will oh and would always be felt by the consumer. and people have seen destruction to their flights if they've been traveling, if they've been traveling abroad boat because of direct impacts of coven, 1000 pandemic. and also some people who work in the airline industry, choosing to look for a job that has, that has more balance lifestyles. and i think also what remains to be seen is what it means for the major cities around the world. so as a professional, workers come out of the hubs that have been carved for particular industries. it does mean a re shuffle off. you know, the services like half a's, cleaning for other people who might be, who might be driving them to move to where they're not living. and that hasn't yet happened. i think, you know, here in london, they sit a really great hope that everybody's going to go back into the city in london and start working wants to pandemic. thanks. i had a whole to compromise you. i think people will go back to the work, but it will work, but it will be part time. so we'll see some movement in the economy with those minimal way shops. ok, many thanks for your time on your analysis. gray slogan,
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director of the inclusion initiative from the london school of economics. thank you . thank you so much. having me, ah, vessels waiting outside ports, labor shortages are haul ba's and supply chain bottlenecks. well, trade house faced numerous challenges during the corona of ours health crisis. however, egypt suez canal record it all unprecedented revenues last year, despite suffering a 6 day blockage by a giant call go ship. the war to way has on more than $6300000000.00. that's the highest amount since it was built more than 150 years ago. the suez canal authority says more than $20600.00 vessels flowed through its waterways last year. that's an increase of 10 percent compared to 2020. and the body is expected to increase transit told by 6 percent of the caea, excluding tours vessels on liquefied natural gas carriers keep in mind,
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egypt lost around $15000000.00 a day off to the ever given joint vessel. wedged across the canal, 6 days back in march, officially opened in 18. 69. the suez canal is one of the wealth, busiest waterways on a bedrock of the global economy. more than 10 percent of global trade including oil flows through it, the canal remains one of egypt, top foreign currency annas, with an average 50 vessels passing through it every day. the 193 kilometer long and 20 for me to deep water way connects the mediterranean and red seas, and it is the shortest maritime route between asia, the middle east on europe. the journey between ports in the gulf and london, for example, is roughly harvey by going through the series compared with the alternate route around the southern tip of africa. well, the united nation said maritime trade was expected to increase by 4.3 percent last
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year. after the economies of many countries started to recover, the increase in demand lead to shortages of contain is congested ports and supply chain bottlenecks. freight rates sold with an average cost of shipping, a standard large container from asia to europe. more than $10000.00. also around 4 times higher than it was in 2020. joining us now from london is amir. it's not there. profess shipping economics and finance the base business school on the member of the faculty at the disgruntled center for shipping trade and finance. thank you for joining the program. why do you think the suez canal and seeing these unprecedented revenues? thank you. it's been interesting, you know, looking at the figures for what's going on. when i look at it in more detail,
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i could see that this increase was partly because of increasing trade following, you know, post cobit because we had a drop in international trade the year before in 2020, very hard, but the bounce back from call. we was realized in 2021. so we had increase in international trade there because you know, some of the factories manufacturers in the rest. they were sort of working at reduced capacity and they had to import a lot of material from, from the 40s. the 2nd factor could be attributed to the recent increase in gas demand and trades of the l. n. g liquefied natural gas, which the traffic all natural gas carriers through swiss going all has increased as
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well, especially in the 2nd half of 2021. so that also contributed to the increase in the revenue by this risk and use the number of ships as transiting. they are higher in 2021, but they are bigger ships as well as be seen, for example, like the one that they're stuck in in the, in the canada. so these, these bigger ships, they have to pay higher. told us when you mentioned the ever given which blocked the suez canal, a huge ship and it was blocked. i believe, for 6 days. egypt has had a number of challenges including the pandemic to deal with. how is it managed to navigate through all this? that was a very interesting video because that was the 1st time when i was blocked or 7 years. and it caused a lot of problem for, for the international logistics supply chain. but fortunately,
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they managed to release the ship within 6 days. ready and some, some people, they were expecting you know, more disruption, but that she was stuck in a part of the cannon and due to navigational air or whatever the problem was in the part of a car that was easily to the nat'l and difficult to maneuver for bigger ships. therefore, this was going to look what it is now they are in walking on a plan to, to and basically why didn't part of the can all, as well as make any deeper for these bigger ships. because these, these ships are, and much more than the swiss max tankers that go to the canada about 400 meters long. but they're a shallow in drop. that's why, you know, they're more difficult to malware in such a narrow place. and accidents could happen, but you know,
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they're taking precautions and also plans to be able to mitigate such problems in the future. most of the world is now dealing with a 4th wave of corona virus, specifically the micron variance. do you think maritime trade will take another knock as a result of this? but that's a very good question. what, what, what, what is my view and my analysis from the data that i've seen these, that maritime and international trade has been very resilient, especially, you know, that the whole supply chain that you have and see when trade invalid unions to, to the corporate situation. if we look at back, for example, the financial crisis of 2008, 9 where the g p, g, d, p dropped, maritime trade affected much more and then compared to what we saw during the quarter. so needing a quote, we figured we could maintain relatively better stuff as low. ready as
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commodities and trade by ships and the bounce back, read them, post koby, videos, ease, ease, be much better. now, the 4th wave in a view of many expect, he's been watch much more milder and the countries they try to not go to any more locked ons and try to avoid for example, any economy a slow down and that can, has my time trade and shipping so the more countries avoid locked downs and slow down like when on me, then the 30 piece for right i'm if one of the ever given blockage demonstrates of the vulnerability of international shipping routes. the fragility of supply chains has the industry adapted since then? this can be very a slow process to, to adapt some other measures to,
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to avoid. for example, any disruptions such as blockage of what's going on. however, a lot of industries ago as well as sec doors, they're trying to find other ways, alternatives to be less dependence on. for example, adjusting time inventory management as well as purchase ingle as hi j. so they try to find alternative base, for example, they call it near assuring or ensuring in order to bring some, some elements of their production power, perhaps in or hold a large amount of inventory in order to avoid. for example, disruption such as, you know, 6 days blockade of officers got on, but this will take time and it can be costly for manufacturers. now, the shipping industry needs to come to grips with climate change, like many other industries. do you think it's prepared to deal with the urgent need
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to de carbonized, find alternative fuels or which of course come out an extra cost? that's a very good an interesting point because this is ongoing and it has been a started, you know, while ago 2910 where international my time organization is going to rounds off the bates and meetings in order to set the regulations for, for environment protection and climate change, and some of the bigger shipping companies now getting barked on plans to use alternative fuel like ammonia, l, n, g, or even, you know, prepared ships to, to, to have a scrubbers in order to use the card when their mission. but to go to 0 carbon in international trade, it would be very, very difficult. it will take time. so interesting to get your perspective,
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amir alan thought, a professor shipping economics and finance at bay's business school. thank you for joining us. thank you very much, bye. the british era, dog jailing brown, is considered the champagne of t's, but as sparking tensions between indian and nepalese traders. he grows an india, one the government to impose taxes and quality control checks on imports from nepal to protect their businesses. nepalese farmers insist that product fills. busy a gap in the market. same bas ravi has more from alarm districts in eastern the poll. no soldiers, no guns, but at napoleon eastern border with india. tensions are simmering. open fields or a front line where for years the 2 countries have been locked in a quiet conflict. over one of the world's most precious and widely consumed commodities. for no pulse t plantations. this is
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a fight for survival. yeah, one of the he is the goose that lays the golden egg. there's local production happening. we have local companies here worldwide, people drink tea and it's also good for health and we drink it and we call alarm district. the place to mind, for example, in alarms markets, himalayan t is as good as liquid gold, a major source of fuel for the country's economic engine. would growers from the neighboring indian state of westbank gulf are lobbying their government to post harris and bureaucratic roadblocks and take their landlocked neighbors. tea off the table where here it into paul's border with india now. and darjeeling is just 30 minutes down this road. past checkpoint, now the terrain, the soil, even the plants that the t comes from. it's all the same in this area of indian grover say that there's is the original darjeeling brand, it only their
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t should be allowed to carry them in the seeds of what some nepalese have taken to calling the kettle. wars were planted more than a century ago. when the british ruled, india smuggled out of china and planted in darjeeling in the 1800s indian growers say their t is the genuine article and importing from the pole is destroying a legacy brand. but indian traders routinely mix nepalese tea with and sell it as darjeeling to make up for supply shortfalls and meet massive market demands. even in fact, india is nepalese. biggest customer, one half of the tea made here, and almost all of the premium. great stuff. most similar to darjeeling is bought by india. for nipple is owners, india stirring up trouble, is just about protecting market share. i pill that very engaged, very big country with the new york. we have a small,
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you're going to me and we have a 1000000000 and a 1000000000 deficient with india 1000000000 and 1000000000. and that we don't have anything to sell our product to india while it d is in a very small quantity. that is not going to the in any good. i mean nothing. but the big thing part about because it gives the village people of the employment, the work because the employment and also the contract. you know what g p is going to is a lot mountain side t plantations like this one, are a real threat to the bigger traditional manufacturers. in terms of quality they've already been given. competitors are run for their money on the open market. and when it comes to quantity every year, they are getting better at moving higher volumes of product, a thriving tourism industry in full blue. that has grown around nepalese t plantations is now also at risk brewing tension steeped in history. at
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risk of boiling over or a storm in a teacup, it depends on who you ask. indian concerns have merit, but the police say their t should move just as freely between their shared borders as their people do. same basra, the ultra 0, belong district in eastern lip hall, and that is our so for this week by i want to know what you think and what you want to see on the show 20 me or d m. me at moline site. and if you're tweeting, then, please use the hash tag a j. c, c. c. if emails, maria, think counter the cost at al jazeera dot net east address. but there's more for you online to al jazeera dot com slash ctc. that will take you straight to our page, which is individual reports links, i'm anti episodes for you, the catch up on that's it for this edition of counting the coast. i mullin site
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from the whole team. thanks for joining us. the news on out to sarah is ah ah, and a friend he is off to sell yours mortal civil war claim like $50000.00 lives. how has the country progress written not to were sources, but it cannot be clear, poor odd that the provisions of his past still determining its future special coverage on out vehicle. ah, close your eyes. ah, listen, ooh,
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i never thought i'd be singing in parliament with the boy. i never dreamt of it. where the words fail. music speaks to short films about how music knocked down walls and inspire hope for a better life. ha selects on al jazeera. ah, 7 people are killed in su. don's capital, a security forces, fire a tear gas up protesters opposing military rule. ah, you're watching all the 0 life from a headquarters and don't find any navigator. also coming up a suspect to drones, strike targeting an oil facility kills at least 3 people, and i will dubey the u. e is blaming jose rebels in yemen. ukraine's former president petra poor shanker, appears in court on treason charges after.

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