in the book, why house is really famous as a song writer, as a lyricist, you can see here a window into her process in a completely unexpected place. she believes age should be no barrier to starting a collection, whatever you're interested in. there's a book about it and there's probably more than one. and so you can explore that passion, true books in a world that is quickly moving all things digital. this is a place where book levers can marvel at unique written words on something other than a screen. gabriel's dondo al jazeera york, ah, hello, what you know to hear the headlines is our m. ukraine president has again pushed for amazing weave, let me persian to end the war just by saying he has no trust in the russian later. let me zalinski also announce that the us secretary of state and defense is set to

visit keys on sunday. i need your hester has moved from washington dc. it's no surprise the washington has said no comment. why is that not surprising? will it's typical that when a senior us official makes a visit to a war zone out of security reasons. typically, the public doesn't find out about it until during or sometimes, not even until after the visit has concluded. we know that this is going to be the 1st time that such high ranking us officials have visited ukraine since the beginning of the war. and it is going to be a very symbolic visit. we are having to secretary members who will be there in here on orthodox easter. and this is the secretary of state at the u. s. and the secretary of defense amaze, office in mary pulse is an attempt to evacuated civilians filed on saturday because of russian shelling in the 2000 ukrainian troops and around

a 1000 civilians hold up in the steel works, which is believed being circled by russian troops may mala lee, 2 ice people, including a baby have been killed during missile strikes on the southern port city of odessa, for the 18 were injured in the attack, which russia says targeted a military facility. more than a 100 people have been killed in southern nigeria where there was an explosion at an illegal oil. refining depth. officials in the delta described victims being burned beyond recognition and identity and farmers have blocked roads and the capital in protest against the export taxes on agricultural products. they have to pay levies up to 33 percent on export. so soybeans and grains, but they worried that the government could raise them even higher on those of the headlines. i'm emily, anglo and then use continues here on out jazeera after counting the cars. stay with us the race to succeed rodrigo. the 3rd to as president of the philippines is

heading into its final stretch, struggling what it's worse. and he says that in years the country is desperate for solutions. but what are the candidates offering and what direction will the philippines stay under you? leadership, special coverage on al 0. i hello, i'm fully back to bo, this is counting the cost on al jazeera, your weekly look at the world of business and economics. this week is to longest worst economic crisis in decades and is to pushing people to the brink. so what's gone wrong for the islands nation, and can it secure the cache? it needs to buy basic supplies, old. so this week, china's g d p growth for the 1st quarter beats forecast,

but the countries way down by lockdown. so can be gene, keep the economy growing, or will the world's manufacture a grind to a halt? and as fuel prices rise, electric comic as i an increase in sales. but his demand for the vehicles are really increasing among drivers. and if so, is there enough to supply them? ah, thank you very much for joining us, sri lankan coffers have old but dried up and it cannot afford to pay for imports. millions of its people are bearing the brunt of the country's economic crisis. basic goods are in short supply power, carsa frequent prices are sorry, and the value of incomes is eroding. many people blame the president for the worst economic crisis in more than 70 years. and they've taken to the streets demanding, he stepped down, go to buy a roger pox, a has admitted making mistakes and promises he will correct them or roger packs or has appointed a new cabinet by the opposition has threatened to bring it down for the country's

economic crisis is caused by a lack of foreign currency. should. anchors finance minister has started talks with the international monetary fund seeking a rapid financing instrument or r f i. the island nation has also turned to india and china for debt relief, but both countries have offered more credit lines. to buy commodities, sri lanka has suspended payments on its international debt of more than $51000000000.00 effectively putting the country. in default, the island nations foreign reserve stood at a less than $2000000000.00 at the end of march. while the countries foreign debt obligations were this year exceed $7000000000.00. a sank exchange was also suspended for 5 days last week. now, should anchors inflation rate climb to almost 19 percent last month up from more than 15 percent in february is highest level since october 2008 and the fastest raised in asia. here's an idea of how much basic necessities now cost white rise. a

common sri lankan staple increased by 93 percent since 2019 chicken and lentils have gone up by at least 55 and a 100. 17 per cent, respectively. the state own sale on petroleum corporation raised the price of fuel by more than a 130 per cent last week. and a standard household cylinder of cooking gas inc. lease from almost $5.00 in 2021 last year to 9 dollars this year. and the country's ruby has plans to record lowes becoming the world's worst performing currency. the government has the value that will be placed, curves on non essential imports and almost doubled interest rates in a bit to tackle the economic crisis shrunk as economy has lost much of its tourism revenues because of the pandemic and remittance is dried up, but critic say government decisions to cut taxes and shift to organic farming are among the main reasons behind the crisis. or joining us now from sure,

i guess capital colombo is, will measure where i'm with jolly, who's an economics lecture at the university of colombo. thank you so much for being with us on counting the costs. this is by far the worst crisis to lank as face in independence in 1948. how do we get to this point? what went wrong? well, to start with this going made a cd, so bad trades that starting from x in the elected to office in 2019 and subsequently the call we've been to me, he did little better than it was on sheila, how we would the decision said the gum and made some sequel to defend me, particularly to, to hold that will be following up exchange jean, particularly the decision nor to the structure date. and when i made that it was actually late to the crisis because been me when we entered doesn't 21. it was quite clear that there was no way for you guys, going to continue with the whole industry payments because the con,

case for in the social law. and we lost significant amount of revenue through worrisome because of depend to make impact. and on the other hand, we didn't have the ability to go to the international capital markets and borrow, but you're issuing euro bonds was how it and that is because the dependency can be less likely to text. but right, so you didn't, you didn't have beloved serial larry finance again. the, the ideal option was the fee structure and going when decision do not contain that option was what caused this whole crisis today? prison mind roger plank for has admitted making mistakes. is it just download to his policy decisions that have made shrunk as economy so, so vulnerable to these chunks or the other factors that play the will, the economy was one little bit because she long because export hasn't gone from your last couple of decades or more and at the same time to tax revenue was very, very low,

probably one of the lowest among the world. so when you are inside your position, you had to be very cautious when you make your policy and they were not cautious, particularly when you have a very low text when you read doesn't make sense to give tax cuts. right? but dave, in to he then gave it as an election promise, and soon after they left the good dave into the text, which was absolutely unnecessary for a country that has made it excellent. so it and also their decision to strictly, you know, not going to, i mean, because they were insisting that they are not going to him if you're not seeking. i mean, as he says and debated, the last mormon people are dying, luxury ages to make that decision. so it was the wrong policy, then pursued, ignoring the economics that base that has led to this shortage of the daily suffering of the expediency to the where the government has now officially requested. you know, the i m f help which, you know has been criticized because as yourself, many people have said, it's taken too long for them to go to the i m f. they've requested an r f i,

which is usually granted to countries with urgent funding. these because of a shop commodity price rise, for example, national disasters. we will, they get this and we, you know, we'll be, i'm f bailout work this time around. let's talk about the bailout in, into parts lately. the audio fight. make sure that be fine as instrument then you will have something might be called the extended fun festivities. the normal beta that relates between and called court in 2016. but for for the finance the into want to be deceived. sheila cost debt has to be sustainable level, which is not the recent stock good by him. if clearly stipulates that free lancaster on sustainable and unless the government easing the odd to me that it trusting them both value miss. amy will not be in a position to give, provide lending at this point until so it's a bit of

a tricky situation. it's quite difficult at this point to get an eye on if i, because the level of the, of the funds we had. but we had to see what policy options that you would like free lunch at this point. and if that was the action here to get an idea, what about china and india, they have offered credit lines. does that offer a lifeline or will it mean more debt? for sure. well, i mean definitely want to be more dead because that's the only way out of this. you'll have to borrow what you need to be cautious this at this point you will have to borrow but, but you have to borrow portion lease, or that you don't over birth date. and also to get more of a transition, a form of, you know, the date that you have to the pay across large, i mean long number of years and also with a lawyer to state. because we can't really take the burden of a commercial anymore at this point in right now. and also be dictated lines. very nice. my tell in the short term, particularly in terms of was a play b, g, b,

or any on these days there was one credit claim provided by india. that's another credit land coming from india or maybe seen essentially with an intermediate. good, chinese embassy and press conference a few weeks ago mentioned that there was still willing to provide a credit lane and another loan. so someone would that be received with a pretty nice but, but that's how quickly that the thinks comes is important. must be equal as making painters. okay. now speaking of, of the debts. the moody ratings agency has one that you lanka will see a series of defaults on a foreign debts after the government said it would stop repayment. of course, what are the implications of that? what would that mean for sure? lanka, and speak for the vein which we de paul did did was not the worst case. the reason being in the day to be made an announcement. what about the call you need? i tried before we go informing all indicated that we are not able to be routed and

dropped will be stored before. so that's one good thing. so which means the tailor . just look here, the billing to restart the data point. it may have negotiations. so things wouldn't be bad as you know, disorderly before. so that's one good thing that was done but, but that was true. the question was that it was truly too late. saw the stall depends on how quickly the restructuring process goes. the test to go along the day and she shouldn't have smith saw the sequence of feet. i wouldn't say could be betty severe. it wouldn't be bad as to be sort of before. and i don't think that the imports below kicked due to the default. but the ink or how old to be affected, because it is so sad, i need more. so that's the key concern to address. no fine, 43. so strong tom bell. i need to get these lines to ensure that the basic layer would maybe seen oil. and i was going to ask you about that. that the choice is the

bed best options. now for your lank as government, i've a waste for the government to improve the country's fiscal position while also protecting those who might face poverty as a result of policies that that might lean towards austerity. there has to be a co bus or show safety net program, giving cash transfers to those who are particularly affected by the high food prices and shortages and make it a priority. allow me to because otherwise these forms will not be easy. but been because nice people come to that or, and start writing interest plus of the so, so the 80 quite likely at the medication strategy to communicate with the vulnerable groups that this is what we are doing. and this is how we are going to protect you and do the need to protect them. thank you so much for talking to us about this and shutting light on the situation. insurance will mess around with ali lecturing. economics at the university of colombo, thank you very much for your time. lasha fish to be here. thank you. the

china is the economy has beaten all expectations for the 1st 3 months of the year. gross domestic product screwed by 4.8 percent compared to a year earlier. but consumer spending fell and unemployment rows suggesting tougher months ahead. that size the countries expected to feel the full blown impact of crone of eyes locked downs and the war in ukraine. many economists say beijing growth target of around 5.5 percent for 2022 appears to be out of reach. katrina, you read for some bay jane. china's economy beat most expert forecasts and expanded by full point 8 percent in the 1st 3 months of 2022 strong manufacturing activity and a boost in infrastructure. spending early in the year drove much of that growth, but major challenges threaten the outlook of the world's 2nd largest economy. sure g to the global situation has been complex and a fluid domestic way. coven 19 continues to have impact. that's why some major

indicators were slow down and there's a pressure i can army performance. other china is battling it's worse koren, of ours outbreak since the beginning of the pandemic. and tens of millions of people nationwide has been confined to their homes, look downs and purse march across major industrial and commercial hubs, including shanghai and sion, gen have crippled supply chains and assembly lines. analysts say the damage caused by shutdowns will be further felt in future economic data. but retail spending has already contracted by 3.5 percent. unemployment has also risen. foreign business leaders say badging 0 tolerance approach to corporate 19 is harming both the domestic and global economy. the western and japan, korea, all the big economies have strong interest. the china changes to one because it said to percent of all goods and china manufacture could have some sort of china in

there. so of china actually sneezer, you know, the world catches a cold. we need child to succeed. we need china to open up in order to actually maintain also good the global economy at a certain speech speech and a global economy needs china now to succeed because we have a war in ukraine which as a rebel on effect. and this is like a perfect storm coming altogether. unfortunately, rising inflation and a cash crunch in the property sector are also dragging on growth. the government has set a g d p target of around 5.5 percent this year. it's the lowest in decades, but many believe this figure will be tough to achieve without the rolling out of more aggressive stimulus measures. still, china's leaders insist on maintaining the most heavy handed pandemic measures in the world. the cities of she ad pseudo and john jo have joined shanghai in imposing restrictions, followed local outbreaks over the weekend. on joining us now is robin monday high

professor of asian, initially at the i. e. s. e business call and president of the asian studies association of hong kong. thank you very much, miss them on behalf of being with us on counting the cost. let's start with the good news. a positive news. first, the chinese economy making a solid start at to the year. what are the main factors driving this growth? well, as you know, they are still benefiting from the success of the, the wound or experience. so while the world was starting to cromwell down they actually were actually, china was recovering. so they continued being the world. so factory. so they were exporting and they were making the goods that the world demanded. so this is a result of that but, but the 1st quarter a g d p does not tell the whole story, does it? i mean, what's the reality of the situation right now on the ground?

ok, they said 515 percent is the target fill that whole year are personally i've, i'm doubtful about that. it depends on several things. i would, i would mention 3 things. the 1st one is the revival of the domestic consumption. ah, in within china, the 2nd one is the resumption of international trade, which was disrupted by the ukraine ukraine war sauce, imports of china has gone down. and also i, you know, the china imports an array of goods which are later are re exported. so both are done because the ports are also begun to be close flights of also been reduced. so oh, and contributes to down flow of international 3. and the 3rd one is the supply and demand factors. first of all is the your grain war. second is the prizes and

commodities driven by the, by the war. so you have all called natural gas and other commodities. food also, 3rd is inflation. and china's way to talk it is different from the other countries who it works and then production capacity is down because of the lack dollars and armor is. factories are kind of still down. right. well, let's talk about those locked down since the beginning of march. china has struggled to, to contain it's worth over 19, not breaks into the start of the pandemic, as he yourself said, when the world was dealing with china was actually doing much better than most countries. but now it's in the grapes of this crisis. we've seen important ports like shanghai shut down. how does the government make economic stability at top priority? while also maintaining this 0 covert 19 policy strategy?

one solution to china already had was to use infrastructure investment. what if, if things are down, they will double down and on, on making more infrastructure, that's the preserve employment to give the economy going because external will be difficult. so they will use internal tools in order to, to keep the economy going. but, you know, that's not very easy to do because there are other, other issues that they have to, to contend with. for example, the aging of the population, the factor in the lying down attitude of the population. the positive side is innovation and technology improvement goes up. but those are the things that they have to, you know, make sure that they interact property. so the right economy is able to do briefly miss that one to her. let me ask you about that. the global impact on this,

you know, especially for those countries who rely on chinese production and on demand for chinese investment. how, how difficult do you see the situation being for them in the coming months for me. oh, consider this a very difficult issue because they have, ah, a play playbook rule to follow because a vague this year is special for china. they have this, they have this special meeting in ridge, ah, presidency is expected to have another another term, another 5 year term. so that cannot be disturbed. so in, in the past once this things happen. so it is very difficult to move because as we have seen already in the past beginning, the one crises that there's a china way of doing things. and that's why in the 1st stage of the one crisis, it was like disaster. but bits they quickly changed. but that change has to be

decided by the cup. ok so and that is the problem here. thank you so much for your time. thank you for talking to us. we'll been one day hi. with petrol prices storing the preferences of ca, shop is our shifting drive is increasingly choosing cars that plug into sockets over those that burn fossil fuels. global sales of electric vehicles are estimated to have jumped nearly a 120 percent in the 1st quarter of the year. despite the high cost of the vehicles and batteries. the average cost of lithium ion battery sales increased to at least $160.00 per kilowatt hour in the 1st quarter of this year. as compared to 105 dollars last year. the high battery cost added almost $1500.00 for the best selling electric vehicle in china. for example, supply chain destruction been sanctions on russian. metals are among the main factors driving up cost and the market share of electric vehicles around the world increased $41.00 times in the last 10 years,

reaching 8.3 percent and sales broke records globally last year. global e v purchases reached more than $6000000.00 units in 202108 percent more than the previous year. 130000 electric vehicles were sold throughout the year in 2012. that figure was reached in a week in 2021. china recorded the high sales at 3400000 . 2.3000000 electric vehicles were sold in europe. this figure was by 66 percent compared to 2020. the us rank deferred with 735000 electric vehicle sales. while joining us now from london is casper rose, who's a chief data officer at benchmark mineral intelligence. an agency specialize in electric vehicles and battery supply chain casper. thank you so much for being with us on counting the cost. so what is driving this demand for electric vehicles? our environmental concerns, motivating buys always. it more about gas prices is

a combination of factors driving. it's driving electric vehicles, amount of the moment in some regions it's, it's subsidies. so you're things from quite generally subsidies available and electric vehicles, particularly in china and in europe in the kind of policy world as well as some big drivers. so again, in europe, fleet emission standards that needs to be met by over time make is across the whole fleet. so one way to achieve those is to move to more and more electric baker sales . and then just to kind of longer term as a consumer, looking at the planning to end internal combustion engine. becto sales, very different based globally, but between 2030 and let's say 2050, generally speaking, people thinking now more and more about electric vehicles. and i guess just finally kind of a consumer preference to move to more and more environmentally friendly technology . speaking of the longer term, let's talk about the cost, the price of these vehicles because there's been a continuous search in prices,

right. for electric vehicles. costs rose because, you know, of supply chain destruction to sanctions on russia. for example. do you expect this rise to be temporary, or will battery costs for example, stay elevated? or are we going to see at some point, some sort of stabilization, you know, the major component that's driving the rising cost of batteries is, is leaky mind battery critical rule materials. so the cathode, which is captured and i do the battery cafe, represent. they've a hard because the battery them, i mean that's what you find the lithium, the nickels manganese, and those price prices are very high. as you know, high prices will incentivize more investment in production of federal materials, everything, cash flowing, opperation, new nickel, opperation, etc. but it takes a long time for that to come to market, take many years and you mind to be built, we typically say around 7 years, so we will say those investments after mount and,

and commence last year, coming to play in the coming year. that will, that will balance costs. now, the ultimate cost of the b, i guess, is really what matters in the computation today. and they still economies of scale to be made in terms of via the vehicle production level of the production level. but we do expect these material markets to go in and out deficit over the next decade. so for right now, the main problem is lithium, lithium and deficit and very tight. and that's why we see price. it's really him, benchmark publishes various different grade, but the price is on a global basis. the average is up 465 percent year one year. and since the start, the panoramic recover recovery is closer to $800.00. and i was gonna ask you how manufacturers are getting around the supply chain disruptions? i mean, it's very challenging at the moment. i mean, we have the earnings, korea from tesla who specifically, you know, mosque and tessa themes specifically mentioned. lithium is a major concern and could be a limiting factor in the right of which if you,

my batteries can be produced and they are exposed to cost at the moment. so by that, what i mean is that no heavy mechanism like you would having something like other large commodity markets. these, especially alex, the chemicals lithium in particular is no a commodity. you can't just use any kind of human your process. you have to qualify that product, so it's very, very challenging. so at the moment what we're seeing is largely speaking, those additional real material costs are being added to the vehicle in some way, all marching to being casserole. thank you very much for talking to us. thank you very much, and that is our show for this week. get in touch with us by tweeting me at fully bought a g e and do use the hash tag acdc when you do or drop us an email. counting the cost that al jazeera dot net is our address. that is more for you online on al jazeera dot com slash ctc. that will take you straight to our page, which has individual reports, link setting, tie episodes for you to catch up on that is it for this edition of counting the

cost? i'm fully back table from me and the whole team here in doha. thanks. we're watching . the news on al jazeera is next with the climate has changed every year for millions of years, decades of talk. but little action is all about distract, create confusion to crate, smoke and mirrors. the shocking truth about how the climate debate has been

systematically refer to the oil industry was a made bank roller or opposition to clock back to campaign against the climate. do you think that's a bad thing more to to and that was, here's a good thing. absolutely. on, on jesse ah, a message from a metro station ukraine's president hopes for talks with russia later, but warns against timing soldiers defending it. marian polls steal plants. ah, hello, i'm emily. ang, when this is al jazeera, alive from doha, also coming up, russia, 5 cruise missiles at the southern port city of odessa killing at least 8 people, including a 3 month old baby.