and refuse to accept the results there. are we okay, well, i could also be a all know of pensylvania, these are running in governor races in 6 days time. they have also refused to say that they will accept the results. oh yeah. and i know it's not gonna matter. baby, i went to math results. no, it doesn't because the law well prevail. somebody can say, oh, i'm not going to accept the results, but it doesn't matter bad. well, not a simple as that, as we've seen from history just 2 years ago, people refused to accept the result that led to a riots on capitol hill. people calling for nancy police and to be hiring their level a shot. mariano or he was certainly part of it. he is now running for governor. he is also not. he's refusing to say that he is going to accept the election result doesn't matter what he says,

it doesn't matter whether he accepts or not. the fact of the matter is he is likely to be defeated, partially because i'm just taking that sort of ridiculous attitude. but when the boat you're in, he probably will lose me. that's. that's a legal fact. now he can go beat his chest and say, i'm not going to accept the results the election, but it doesn't matter. he was a life of all i lost, it gets clean and it gets credibility to all the people who voted for him and feel that that vote has been stolen. the secretary of state in georgia, had death threats on his family because he refused to find donald trump's extra $11000.00 plus death threats to his family. that's why it matters. it does matter when you have threats. it does matter to those individuals in law enforcement takes care of that, but to constantly keep returning to january states of last year, obscures the fact that that was an aberration. we need to certainly make sure that

nothing like that ever happens. i guess that came with the same sense that by doing that, you have to say that these election denies do not have any credibility, which is something that is incredibly important. and this is why biden perhaps is giving the speech. and i'll and i, and i suspect that a lot of the voters out there will vote against people who say, i'm not going to accept the results. i know i wouldn't vote for somebody like that . and i think that the reason voters will prevail by and large, yes, there are going to be exceptions. there are going to be outliers. but to go on the, for the president to go on the air and scare people into thinking that there is going to be violence all over the place and their votes aren't going to count when there is no evidence that is your responsible. bob, bob, let's hope he'll right. we'll find out in 6 days time. thank you very much. take

the time to join us. just before biden's speech, the quick needs to bring you north korea flight and not that miss. all. it's the latest in a string of weapons tests. japan reported the method flew over its territory. the government has ordered residents and several prefecture to shelter in dollars and is holding an emergency meeting. south gwinnett says, the weapon is an unidentified ballistic missile that landed in the pacific ocean will be keeping a close eye on that story. bringing all the latest updates as we know them counting . the cost is next. ah, oh, jeez. yeah. i know. ah, i

hello, melinda, this is counting the cost on al jazeera. this week president gigi pings grip on china is tighter than ever before. and he's pledged to cement his country's power and influence in the world. the economy is weakening, county fix it. also this week china's leader wants to place his country as a leader in technology bought in his choking off it's access to advanced semiconductors class china is electric, vehicle market is booming. so why is beijing so far ahead of us in europe and adopting the technology? ah, when jean ping assumed power in 2012, china's economy walls booming a decade later that growth is being dragged down by strict cope at 19 cubs and a deepening property crisis. now critics of the chinese lead mainly blame the

weakening economy on his policies. yes, aging ping has given few signs of changing his approach off to consolidating his hold on power. she insists the economy is resilient, and as promised to deepen economic ties with all the countries as he begins an unprecedented 3rd term as leader of the communist party. susie 5, yes, she also and justice china can't develop in isolation from the world. it need one, china for its development through over 40 years of relentless reform and opening up, right. we have created the twin miracles of fast economic growth and social stability. china will open its doors if wider, we will be steadfast and deepening reform and opening up across the board across china will create many more opportunities for the world. we now have one veiled, a new leadership team of loyalists. among them is leach young,

called on track to become the premier task with managing the world's 2nd largest economy. now, stocks in hong kong slumped and the u on weekend against the us dollar after beijing presented its new policy leadership. investors were also unnerved by economic data showing a mixed recovery in 3rd quarter, with unemployment rising and retail sales weakening. now the economy has rebounded at a faster than expected pace during that period expanding by 3.9 percent. but it's still way below the 5.5 percent target for this year. now let's have a look at some of gigi pings controversial policies to decades of market oriented reforms initiated by his predecessors. the president has been criticized for bringing the economy on the tight state control opinion and say he has prioritized political control and national security above economic growth. he has long sweeping crackdowns to rain and industries, including tech giants,

gaming and private tutoring. as part of his efforts to tackle rising inequality, the measure is estimated to have wiped out hundreds of billions of dollars in market value for many of chinese companies. on is imposed boring limits on the property sector, which has led to cash crunches. and defaults for many developers. z is also doubled down on 0. coven locked down mass testing and border controls which continue to cripple economic activity. tony me now is sally, you senior practitioner fellow with the ash center, khalid kennedy school and a visiting senior fellow at the london school of economics. she enjoys me now from washington. d. c. thank you for your time, sadie. what's the recent economic data? tell us about how the chinese economy is doing. hi, good morning, melinda. first, they would be nearly impossible now for china to hit the full year 5 and a half percent a g d. p growth target. chinese economy has achieved out 3 percent growth in the

1st, the 3 quarters of the year. and so china would need to grow over 10 percent. you order to hit the for your target. and so that's becoming increasingly unlikely. some statistics within the q 3 data is really interesting. one world income grew faster than urban income by nearly 2 percent. so the lifting of income is a manifestation off. she's determination to reduce income inequality you order to achieve common prosperity in the 2nd statistics. private sector investments grew 2 percent into 3, but they sector investment grew over 10 percent in the same quarter. so to say sector is a bad thing relative to the private sector. in this, a gun validates the seas plan to make the state sector bigger, better, stronger, and it cooler off the chinese economic growth. a 3 take high take manufacturing value added to the fastest across all the industrial sectors into 3. and so there

is a whole, a government approach in pushing the growth off. china saw high tech industries and in the number 4, really interesting. we are savings the car to saw a shot rising 2021. chinese save the despite co bit over $220.00 truly in our and they almost a $2.00 times the size of china's g d p. and on average over 10000 u. s. dollars per chinese citizen in economic uncertainty. so chinese citizens are really making choices on the future of, you know, what they see as so the future of the chinese economy. they are spending, they are investing, they are really saving. and lastly, if i may say of the 3 horses of their chinese economy, trade, investment, and consumption, obviously, china can always fall back to infrastructure stimulus in order to see some short term economic growth. but we haven't seen consumption pick up literally since cold it. and so a less we see a very strong consumption recovery. there is no sustainable economic recovery in

china. right? ok. so that's why i just want to be clear, sadie, because a lot of what you described is positive news. and yet when you see how the markets of react and the yuan depreciation, you wonder how it's being interpreted? is the chinese economy doing ok or not. and you may say that the looking i had that the condition that, that the chinese economy has been weathering in the 3rd quarter, with persistent a 0 cobit policy. and the enormous a political uncertainty which has now cleared a chinese economy has them by their resilient. if we were to look at a 3.9 percent, the g d p growth in the 3rd quarter. but by all means, it is so slow down significantly and i think, you know, for china not to hit a project to their g d p growth target for the full year. this is perhaps the most

shocking anomaly that i've seen you, my professional lifetime, but we should say that in the 20th party congress, economic security has become a bigger priority over economic growth. and so going forward. so mr. she to talk about that by 2049. he wants to china to become the leader in terms ofa comprehensive national strengths in the world. and so that entails rather a lot of things beyond simply gross target. yes indeed. so let's expand on that because when you take a closer look at some of the people in his new leadership team, it does appear clear that he has chosen loyalty over the experience of some of these people, there is economic growth no longer a priority for shipping molina, economic growth will always be essential in china, as just have mentioned earlier,

economic security now has become a more acute national priority for the current administration over g d p growth. but that's not to say that economic growth is not essential as mation the mr. sci fi mission, a long term target, by the mid part of the century. he wants china to leave the world, essentially every level of strength. and that entail is the military. military modernization requires economic growth. infrastructure building requires growth about and road initiative. this is mr. she contains signatory foreign policy that requires economic growth. ruth itself, it's already a part of the china's economic security. one of the challenges and you touched on it is the downturn in the property market in china? what are your predictions for the market is a recovery in the sector expected. a, china's residential real estate market has sledge a 13 month in a row, a when they 1st started a, they started as a supply side issue,

primarily risk in the suppliers, the developers side. but now it's increasingly become a demand side issue. as we have just mentioned that you, investors are the regular savers in china, are choosing to put money in the bank rather than barring on mortgages and the buying more real estate. the market is not going to recover. and the real estate sector, it's roughly about 20 to 25 percent of china's g, d p. it suppose show sector in the chinese economy. and so it has a stowed some of its risks over to the banking sector. and so now it's becoming more of a systemic issue that involves a lot of moving parts. thanks simply a, just the, you know, to revitalize the real estate market itself. clearly you've studied china very closely. it is something you focus on. where do you see the chinese economy going forward? can overtake the u. s. at some point. i think the chinese economy will

face a lot of hurdles the head, but the economy that the model itself is transitioning. we have heard in districts, fish recently that the chinese economy is comprehensively a, moving into a different path off development from the past the for decades. and as far as how that economic model is going to work out, that really it's a, it's a big test at the world is bearing witness to. so we are looking at the state sector becoming more dominant and the, permeating through every sector off the chinese economy. and we are looking into the future that china is going to focus on a lot of self relies and including not only supply chain technology, but also china's major push should become a global leader in exporting technology to the developing world. and so we're

looking at the various moving parts, but the fundamentally we're looking at the so you cannot make philosophy that is embraced on by the car into chinese leader. if it is going to take china to where he wishes china to bay by the mid part of the century, that is to lead the world in comprehensive national strength and to offer the world alternative model to modernization. we don't really understand fully as of this point the chinese style modernization is categorically different from modernization in the universal sense. and so there are a lot of things that we know that from a liberal economic perspective, perhaps there is a lot of dod bad where the chinese economy is going to go. but we know for sure that the past is going to become more state centric and it's going

to perhaps for the depart from the liberal economic i ideal, the west of cherish. really interesting to talk to shirley. you senior practitioner at the ash center, poverty kennedy school, and a visiting senior fellow at the london school. if you could almost think the president jeering paying once china to become a state lead and self sufficient technology superpower, but doesn't rely on the west. bought it, lags behind taiwan, south korea. i'm the united states in manufacturing, advance semiconductors, used and everything from mobile phones to weapons of the us is making it harder for beijing to acquire and produce them. washington has imposed sweeping new cubs against the chinese chip industry. they are tougher than any previous action taken by the u. s. in decades. and the aim to slow beijing ministry power. american

companies would not require licenses to export high performance chips, the china, as well as equipment use in advance semiconductor manufacturing. deb restrictions also target sales from foreign firms that use american equipment. the measures come as a us pause billions of dollars into its domestic chip industry in an attempt to boost american competitiveness. china has criticized washington's expanded restrictions saying they will. * home supply chains and the world economy. many american firms that produce chips list china as the biggest single. * market and could face major losses in revenues to discuss all of this on join now by alicia garcia, had at or from hong kong. is the chief economist for the asia pacific at not texas bank an, an adjunct professor, hong kong university of science and technology. many thanks for joining the program . what is the thinking behind the decision that the u. s. has made to place the

sweeping controls on sales of semiconductors on basing? i think the main concern from the us side is actually technology and containing china and it's upgrading of the major industry us me, that's the key. of course, there's no such thing as military industry only and, and need to technology will be hit, which also means that china will have a hard time in moving up the ladder, whether it's artificial intelligence, quantum computing. so basically the tech will be severely affected. this technological decoupling between the us and china it's been going on for some time now, hasn't it? i mean, because of that, we know that the chinese government has invested heavily in its own chip industry in life if that how much are these controlled? actually a blow on china so far,

right before this and new ban on on simic factors, i would say that the impact had been limited. we had seen some impact ways, a very good sample. it basically didn't manage to develop it, sign the sign of semiconductors through the subsidy. we've had a choir to do so, but, but yeah, i mean this time around, this is really a to not me, this is a totally different ball game. it is going to be much more painful for china than any other measure which is so far. so this policy of the us to work though it needs its allies, doesn't it to comply with the same controls. i mean, take taiwan, for example, which is pivotal to the semi conductor industry. what is taiwanda ro here? it's close and it's relationship to the u. s. but it's also very much dependent on china in terms of its biggest markets. so how do they play this?

they can't play, that's a difference in premium sumption. export controls. entity list, you know, everything we've seen so far. they had a choice. and they could basically, you know, play around with whom they were selling or they were not selling this time around and see or say yes m l in you that, that or, or some so not anybody decides to play around and it is not defy the end user in a way they are going to be subject to the same export controls because it will not received that the signed for their own production. this is what i mean. so that way it is not choice. 2 factors. first i practicing is going to be hard to deviate. i mean, impossible because you're going to be targeted targeted 2nd by now. and this has changed in ukraine. you halfhearted coordinated export ban on semiconductors to,

to russia, which is basically now let me know chinese semiconductors. so i guess ukraine has shown that it can be done. so what does this leave china? what a china, china's options. china has options. i would say i wouldn't say that they are necessarily very effective. so let me start by very simple. they can ban apple or microsoft or, you know, like be harm to the tech industry as users the other than they can do is to play with critical components to, to supply chain where the semiconductors, electric vehicles, green energy. yes. so, so, you know, they controlled the processing of key rare it tells they can play with that is not a big minor thing. and finally they can just, and this is key, create their own, their own ecosystem, maybe not as advanced. but the point if they could produce that uses less advanced,

let me come back those bigger semiconductors for purposes that might not be necessarily the same level, but that allow them to continue to upgrade rather than just give up on, on that. and that brings us to, to ecosystems bifurcation. okay. really good to talk to lithia garcia. however, from hong kong. she called midst for asia pacific at the texas bank. thank you. gee declared in 2014, the development of electric vehicles was the only way china could transform from what he called a big automobile country to an automobile power. less than a decade later, it's risen to the forefront of the electric car innovation. chinese companies are making high end models that rival tesla, as well as german automakers and china is expected to remain the leading country for electric vehicle sales for decades. are more electric vehicles will be sold in china this year than in the rest of the world combined. the country bought one out

of every 2 electric vehicles sold in 2021, and up to 6000000 new electric vehicles would be registered in the country. this year will tesla had its best ever month in china in september, selling more than $83000.00 cars. autonomy is by far the largest electric vehicle selling country norway, germany, the netherlands, and the united kingdom. all had high electric vehicle sales per 1000000 people last year from new york on join. now by daniel i, daniel is the managing director of senior equity analyst that wed bush securities. thank you for joining us on the program. daniel, how did china ends up dominating the electric car industry? i mean, that's really good back. i'd say to last decade. i mean, they were always innovative in terms of realizing electric vehicles is really going to be the biggest transformation to the auto industry. in the last 4050 years. it

started with i p, the domestic players, the near the next thing, the b y, d. and then come as a cash open arms in terms of that, specifically on the giga side, that's really how china isn't years ahead of any other region. and this is largely down to the chinese government, isn't it without its subsidies that it has provide as incentives for people? would it be as successful as it is shops, these have been key to the success in china. i think of us is starting father model . you've seen some that europe as well, reading china and they do have been too deep in the pool when it came to e. b 's. and this really goes back. if we even think about the last few years, there were some 4 in the road. norman's landing subsidies really came in significant for the domestic players, but the international key as well. i mean, that's why has to open up their giga factory and shanghai was, i would tell a watershed moment for chinese, the, the industry,

the us now to try to catch up on the electrical vehicle market, implementing its own new policies and incentives. but can they catch up to china? massive lead? yeah, i don't never see them catching up. i see them. can me start to get on par with europe? i mean, look, china today we're time 1213 return automotive, that the us to and a half percent. lot of would to chop to get there. you know, i mean need started to weigh out some initiatives in the, by the ministration a lot more infrastructure building. and they were seeing signifigant sir progress. but it's going to take a long time to see. ready any short of, you know, i think improvement, i think we're going to start to see that 20232024. but if the cared and the stick approach, and i think that's really going to be the key, e b 's in the us. how have the friends the electric cars in china shape the global electric vehicle market?

would we see similar investments if china hadn't gone so hard? know that guys, when it comes the, these as well as a i, does your to call arms, race is going on between china, as well as the us. and to last in the us want to be as a wagner when it comes to electric vehicles specially attached to the u. s. company . but i think this really just showed that they were early. i think it's, we're now that there's a massive transformation using gm for and others that are really going all over the next decade. but there have been some seminal moments. and ultimately it was really china that was the head on even the domestic players, the news, the ex pings and others, those been shiny objects that they've really been able to, you know, ultimately award. let's talk about the manufacturing of batteries which outside of china and some parts of asia, is pretty much non existent. how big a problem is that if the world is moving to ed's electric vehicles,

why need to prom in terms of, we'll call from the supply perspective. i mean with the m raw material that's going to be an issue as we go in 2001 report, 2025. you're starting to see more manufacturing builds in the u. s. business. some of the incentives. both china continues to really, you know, own that battery technology. and i think what we're going to start to see is a balance of power. you'll start to see more in the u. s. potentially more in europe, but at least for now and why that's going to continue to be in china because that's really where a lot i've been from an e v perspective. and briefly we've talked on this program about the semi conductor controls that have been imposed on china. what impact is that likely to have on china's electric vehicle industry? again, the jury still out in terms of how that's all going to play. i clearly there's, you know, there's a game of thrones going on between us and china, where it comes to the,

the semi wars. i think it's going to be contained in terms of what i do use the impact to china. i think more when you start to look at handsets and you look at a terms of from, and chip technology perspective, that's where maybe it's more of an impact. but just like china, you know, continues to own the e, the industry for now did shift. i think that something's been a shot across the bow, and there could be some ripple effect negatively as we go in 2023 for china. we're going to get to speak to daniel ives, mother to the senior equity analyst that wed bush securities is off. so we get in touch with us by switching make money bite and do use the hash tag a j b. when you do order up with an email accounting to call out their address, that's movie online. out there, a dot com slash ctc 1000. take you straight to our page, which hasn't looked individual reports,

links an entire episode to catch up that is it this edition of counting the cost money inside the whole thing? thanks for joining us. the nice on out is there a ah ah ah ah ah.

november on al jazeera cats are welcomed to footballing. well as the world cup kicks off in what promises to be a tournament like no other generation change, returns. showcasing young activists fighting injustice and challenging the status quo. leaders of g 20 nations gather, with ukraine's president to lensky invited will he meet vladimir putin for the 1st time since russia's invasion, the trials and tribulations of players from 6 countries. striving to realize their dreams of playing the world cup. americans vote in defining mid term elections. the results could see biden and the democrats lose that congress majority november on al jazeera. ah.