all parties say the deal made during the negotiation, separates them from the rest of the u. k. now the island secretary, chris heathen, harris told autumn and he hopes the delay can create more time for talks. i will re introducing legislation to provide a short, straightforward extension to the period of it for executive formation, extending the current period by 6 weeks to the 8th of december with a potential for a further 6 week extension. 19th for january. if necessary, this i use to create the time and space needed for torturing the u. k. government and the european commission to develop and for the normal parties to work together to restore the devote institutions as soon as possible. thousands of people in greece have taken part in a general strike against the rising cost of living public schools was shunt and flights and public transport disrupted. unions are demanding lower taxes and an increase to the minimum wage invasion. hit 12 percent in september the highest in 2 decades.

ah, that lines on al jazeera us present. joe biden has called the mid term elections a good day for democracy. after declared poll results defied a projected so called red wave. the republican victories are of a smaller margin, then predicted, but they are likely to control the house of representatives. my cana has more from the white house, the president making very clear, his basic message saying to the american people, we hear you clearly acknowledging that what these results do indicate as well as a growing impatience among voters, with the ongoing political rancor. with this in mind, president biden reached a hand across the aisle, taking to work with republicans. should they gain control of the house? something that results indicate is a possibility. it is a possibility to that they could control gain control of the senate,

which would make it very difficult for president biden to put through his agenda in the remaining 2 years that he will be in power, if not standing for reelection. russia says it's withdrawing its troops from a major battle ground in southern ukraine for several weeks. ukrainian forces have been advancing in the case on region is one of the 4 areas. moscow onyx in september rushes defense minister as ordered. it forces to retreat, but the cranium government is warning. this may be a set up tag giant match the parent company, a facebook, instagram, and watch plans to cat more than 11000 jobs. the company hired aggressively to meet the mastering the pandemic, but revenue is lower than expected. france crazed it unacceptable that italian, the italian government refused to allow several migrant rescue ships to dog for vessels were initially denied permission to come to showing sicily somewhere or later land to duncan, this embark passenger is one of the ship is now on its way to france in french

present. the minute of my call has announced the end of his country's defense mission. in africa. french military personnel have been working against armed groups in the style region as part of operation by cam since 2014. but the french forces a face going hostility from some who see them as ineffective. those are headlines on al jazeera. i'll be back with more news after counting the cost, stay with us. a new series, exploring how traditional knowledge from indigenous communities is helping tackle today's environmental catastrophe. in columbia, the, our local people team of scientists, is to understand why species of tone, once thought extinct, is still thriving in the coastal mountains of the sierra nevada. first nations frontline, the starry night towed on al jazeera. ah,

[000:00:00;00] i ha i moline site. this is counting the coast on the al jazeera, your weekly look at the world of business and economics. this week left us lita luda da silva, has made a historic come back in brazil instead to govern latin america's biggest economy for a 3rd time pledging to tackle hunger and poverty. a will he succeed? also this week spending big to tackle inflation in japan will cuz she has 200000000000 dollars stimulus package, ease high living costs, or will he be forced to move away from the ultra loose monetary policy plus lab

grown diamonds and taking the shine of more expensive mine gems, we have a look at why the man may jewels are becoming increasingly popular among consumers . ah, louise in last year, lulu de silva led brazil during its economic boom in the 1st decade of the century . he is now back as its precedent for a 3rd term, often defeating j. u. both narrow by a narrow margin but running the country now could prove much harder than the last time he was in charge. politically, it's hugely divided. it's short of cash, an economic growth has slowed, and linda has made it clear. his priority is pulling millions of brazilians out of poverty, which he's done successfully before. he went to international fame for building an extensive social welfare program during his 20032010 tenure. but it wasn't all rosy . he will also be remembered for the administration's involvement incorruption,

which led him to being jailed for $580.00 days. his convictions were later nulls by brazil's top court. when the president selected the new grace in january, he will take control of an economy that faces numerous challenges below that has given only a few details on his economic plans, he's expected to put the state back of a center economic policy making and move away from the pro market model of the both in our administration, the president elect said he would push congress to approve a tax reform which would exempt low earnest from paying income tax. he's also pledged to abolish a constitutional spending cap to allow the government to spend more on social projects and infrastructure. the president elect has also promised to combine responsible fiscal policy with social responsibility, sustainable development. he's also pledged to put a halt, illegal deforestation in the amazon. joining us for a massage job in

u e is hydro luko, a condo dean of the college, a communications at the university of georgia and a latin american analyst. when he, thanks for joining the program now on the campaign trail lula offered rather broad short strokes of his economic vision that was putting the space at the center of the economic development. what do you make of his plans so far? well, is it interesting? because mr. rule of the, the few who are b now is going to confront a completely different scenario from the one having its 1st government. in this case, we have more than the prices that have come down in the market, which is a stark contrast to the time in which he was pressing the 1st time in which commodity price prices were on the rise. the other thing in the debt, the brazilian national debt, which is to bubble in between now and to talk, and in 27, it's a huge problem which will demand measures of cutting public spending and bringing

it will take in some of the international debt and agreements. that you'll have and also mr. rule and we'll now confront the boat that is not in his favor. and also i see the governorships and policies which will be in the hands of the opposition. so it's going to be very tricky right or wrong. and it will be a trying to prove himself that he's a state person capable of managing the challenges in, in front of him. so i think, you know, there's always the risk that when your income pays, you tend to offer more than you can deliver. and it's all about managing expectations, and i've seen a lot in america. things can go very far, very quickly, to elected for one of the gone to power. he's promised not to make the same mistake as his predecessor from the work as party delma recess,

who was accused of economic mismanagement when you do things differently. do you think? well, i think we need to also correct the mistakes he made. the 1st time were cases of corruptions, were wrapped around. remember, the, you know, the 2 biggest scandals in latin america in the hall of luck in american colorado and the over a construction company and, and also all the cases of girls who were around for his time. so i think one of the things that he has to be very careful is the management of public funds and making sure that he a point, the people who are responsible for this bond, making sure that transparency and accountability prevail. because he's not only about correct in the mistake by the math, but all or mr to was not able to make lots of mistakes. what about his own mistakes government? so he's being elected on our great expectations and, but that also comes with a lot of responsibility. he's also promised to tackle poverty tackle inequality. i

mean, that's his big thing, but can brazil actually afford to all that social spending? and he's promised, well, you know, it all depends how climmer and skillful he's negotiator of the international that are, i think there's more but still a very strong industrial power in the global south in terms of some of the export and still very well place. some of the areas and the economy are relatively relatively good. so i think he has some money over, but he does need to appoint the right people. and that's going to be very difficult because he came, you know, very complex setup arrangement with allies to power. so there's a lot of the confusion of power that makes a big grade. and the prince who, what they are proud of is dollars there. i think here we are confronting our case in which the challenges might overwhelm him. if he doesn't have the right team,

and if he doesn't empower this team to actually ask the say, the fact that me in particular area my, my main concern about political capital that can go very quickly. i, if you revise my own kit, twitter a call back in the beginning of all was where most of the policies are saying that the document was going to win for a margin. $1750.00 and it's there. and when i was saying that the margin of victory will be just one person that i effectively predicted this because, you know, there's been a much more complex situation that people, p e, you know, the legacy they left in the, both the government and the governmental d my was a legacy that included huge cases of people have not forgotten those things and, and also in all the areas like even important people when we cannot forget that people protested in brazil by the fact they were building

a huge stadiums and wait in all this money in huge a parade and big events around the world come when they have a huge need to the company. people have read them and really you paint a very, very bleak picture for him and the state of brazil's economy. what can he do to turn things round tiny, bring brazil back onto the map. yes, of course. and i think one of the very interesting development the new life is and i've been brick stage. i think that, but if you have the very important powerhouse of industry that they can do, i think that even if you need to do the program they can do be done in a very clever way without affecting the point. and with doing it in a way that it consists in the industry, i think the government will have lots of weight in the areas that are not really dot and that of

a priority. but there are other like indication hell and october deviation, which he can do a lot. and i'm sure the instinct that you are there are, but it's all depends on the ability to appoint our team that is used. that is, are comfortable that he's transparent and they're all oral deficient. i, i, i think you have a great opportunity all becoming, are providing on leaving upgrade legacy over progressive government that can make important changes. sounds like he should be hiring you on his team. really could talk to heidi a condo dean at the college of communication at the university of georgia. thank you. ah, japan has been battling deflation for years and has kept interest rates near 0 to encourage businesses to invest small to help stop prices falling. now this surging globally and central banks raising borrowing cost to tame inflation,

but japan is maintaining its loose monetary policy. instead. the prime minister from jo casita has announced a $200000000000.00 spending plan. it can go though my tycer grew up. these holistic economic measures ought to overcome soaring prices and to realize economic reform by addressing soaring prices and the economy holistically. i will protect the lives employment and business of this country and push our economy forward for the future. a good annuity, a g d, b, or young? then rock pass central or c. with these measures, i will push up the g d p by 4.6 percent by decreasing the electricity price by 20 percent, while keeping the price of oil from increasing. i will make the consumer price index down by 1.2 percent. your target or the prime minister says the overall size

of the stimulus package is expected to amount to more than $490000000000.00. it includes subsidies for household electricity and gas bills and coupons for pregnant women. some money will be allocated to offering companies more incentives, increase wages, as well as boosting tourism. an export. the government will submit an extra budget to fund the plans parliament next month. it will be mostly financed by issuing government bonds, of whom you can see to unveil the stimulus package just hours after the bank of japan stuck with its policy of rock bottom interest rates. that despite the countries rising inflation rate, which was at 3 percent in september, though much lower than the price rises in the u. s. in europe. the countries currency is hit 32 year lows against the dollar, and the japanese authorities have carried out at least 2 interventions to prop up the yen. joining us from singapore as marcell, tilio senior japan economist of capital economics. thank you for joining the program. why does japan have

a relatively low inflation rate in comparison to the rest of the world? there's lots of factors behind it. i mean, rachel in japan is not freshman to blue mark conditions. so it's still just around one to 2 percent because it's also pushing back hard against rising prices to some of the the price on is controlled by government policy decisions, their prices up at a rising and also intricate to supply short. just that help back help are they crated be increasing goods, inflation, lots of bonds, colonies. whenever that's pronounced, speak supply chains operate. it's better. it's a range of factors that keeping the lower than elsewhere. ok, relatively to most other countries. inflation is low, but by japan standards it is high. so why won't the bank of japan raise interest rates like every other country around the world is during to keep inflation down.

and it would also pop up yet wouldn't it, which is also been in freefall. it will probably pull up the little it's a, it's not the that the currency of any major monster economy has all the against the ball of this year with some of them for nearly as sharply as, as yet, even with center brand type rates quite grasp. lee, and the main reason why the banks, japan is, is not typing policies that is not convinced you find facial rates going to stay. when about, about one 3rd of the current inflation is driven by energy prices and those already coming off the boil. and the other big increasing pressure to be driven by the weekend. so one central banks elsewhere stop, stop hiking and straights which we expect to happen sometime next year. and again, we'll probably stop weakening and that upward pressure on the place is going to subside, right? it's the external forces that they think are putting up the prices. so what about

the stimulus package? how is the stimulus package going to help reduce inflation? the, the main factor here is that the government has pledged subsidies to, to electricity prices. nice. we're not that interesting gas prices alone. contribution about one percentage point to the 3 percentage on rise in place to buy one 3rd of all places to buy this. and as it happens, the government will introduce subsidies or on 20 percent or 30 percent, which will fully offset the current increase in prices and will, which will take off this. this one percent increase in price for inflation will be back below 2 percent on our for cost by and maybe the 2nd quarter next year. and that in turn, will also pushed on inflation expectations and should help to prevent all, well, should, should, should help prevent a strong rising wages even though so, but it's not happening. well this package stimulate growth at the margin. yes,

i mean be, if households have more money to spend, they might spend, solve it at the probably the savings, right, is still quite high by for standards at the moment. household not, not sticky in the mood to spend consumer confidence is very low. so it's, i wouldn't expect fibers from japan as a huge public debt. can they afford this huge funding package? yes, they can. i mean, this is, it's a bit of a confidence trick. as long as the bank can, can convince investors that it can defend its tend to your target and keep interest rates to 0. then even very high debt levels are usually affordable. but obviously, if investors to test the commitment and the bank were to let loose of the target, then the that that level could quickly become unsustainable. now our view is that the bank will be able to defend the targets because of the pressure on overseas constraints will start to subside sometime next year. and that in turn means that the,

which probably deadlock is animal. the bank of japan has stuck to this policy if ultra low laid low rates for very, very long time. haven't really worked for them. i think it has. i mean, when, when the bank started, we had, we saw consumer wise is falling before wasteful negative. now we leased and we saw this from its way 12 and 25 years. inflation is finally starting to pass the, the 2 percent inflation time if only for, for mostly because of the weekend, obviously high energy prices. but clearly things are moving in the right direction . so be the deflation that has placed or which kind of the last 3 decades is now pretty behind us. what about the depreciated? yet it's not putting political pressure on the government. yes, i think that's the, the one area that could potentially trigger a policy change because obviously we have given the current back japan govern the road, us tenable. and next april, and the government has to appoint a successor. at the moment,

it looks like becoming will appoint someone in the similar mold to govern across to someone would continue to, to keep monetary policy lose. but with the weekend pushing of inflation in the public increase the unhappy about that it a, it's an outside chance that the government will nominate someone who ends this whole policy experiment and starts to tighten policy ever so slightly globally. we're looking at many of the big countries heading towards recession in 2023. what did you out look for japan or grew up? it's just going to slow, but i think japan is, is catching up with the rest of the world because it had a much tighter stance on, on the virus for a long time. only recently started to live with the wireless. so households have yet to, to please return to normal ways. this house is ready for quite high. so that will mention will, will keep the economy going into next year,

even as other other countries and recession. muscleteo senior japanese economists the capital economics. thank you so much for your time. diamonds all forever diamonds are a girls, best friends with all heard the expressions they are the ultimate accessory if anyone who can afford them. but they are facing growing competition from lab grown ones which are chemically identical, but up to 10 times cheaper. the man may gems are increasingly attracting consumers as well as the wells biggest jewelry makers. and the share in the market is growing fast. well, the industry is estimated to be worth more than $6000000000.00 and sale a figure that is expected to double in 2025 days for march show. the sales of engagement brings made with lab diamonds, jump 63 percent compared to last year. the u. s remains the largest consumer market for lab growth,

diamonds by far more than 80 percent of the demand. india is among countries that so a sharp rise in the exports of the man made gems in 2019 west $443000000.00. that's up by more than a 100 percent year on year to discuss all of this on joy now by ellen young connie allen is the chief executive officer. i have a tardy antoinette, which grades lab grown and natural diamonds. thank he so much for joining the program. ellen, i have to admit when my producer told me about this topic, this was the 1st not ever heard of loud groan. diamonds, can you tell us exactly what they are? are they real diamonds? well, they actually are from a military perspective. so natural diamonds formed naturally 150 to 2 under kim is deep within the earth, approximately 2 to 3000000000 years ago. oh, even at that time when the data source walked on the earth. so a diamond needs and you have to and found this combination of high temperature and

high pressure to form. it's actually the purest form of carbon. now what is the lovegrove diamonds we going his man mate? so we going to imitate nature? we going to create the same circumstances that is what happens in the earth starting of that carbon ion mineral. are we going to create high temperature and high pressure? and we create a kind of rough diamond will be mutual for the same process of natural dancer will cut it while a shirt and her and her and put it on my to, to live in a jury. so actually interesting thing is that it has the same physical chemical, an optical properties as a natural diamond, except that they are grown in a lap. not really a nature aven investment though we talk about say gold being an investment is, is it the same sort of thing? we're talking about value here. and this is actually a personal matter and depends on the purpose of the wishes of the buyer of consumer

. the only thing we now to day is friends that the lateral diamonds is around 20 percent of the value of a natural gas, which means 40 percent cheaper. but what their value will be true or the years remains uncertain. in case of natural language, we can more easily conclude from stock. it figures that to day that they are pretty reliable, long term investment. so at h r the, we don't take a standard, what it's better, what is more words? but it's, like i said, it depends on your personal wishes versus the most important is to offer transparency to worse or final tests that they know what day i didn't buy a lap grown or did they buy a natural what about the carbon footprint? i mean, he using all this heat in order to turn the carbon into a diamond, does it have a good carbon footprint or a bad come footprint? this is also all about marking to blade like green diamonds, or markets, or the marketing people are putting them in the market. is that's rattled about

part about it because it's not transparent. so you have to look at the complete value chain. so how is the diamond produced? so if you have a electron diamond factory and a use sustainable or renewable energy that it could be compared to a natural one, that it's a carbon footprint is slower. but in many cases, it's not, sir, it's really not the case. but it has a need of to man of huge amount of energy and heat to create electron. regardless, we are seeing a demand for lab ground diamonds grow up. what's behind that growth? well, i think i become denied the power of marketing in this case. so he especially see an enormous growth in the us. and i think many factors can contribute to that. also difference in market share because the growth in the u. s. is much higher fences that in europe, and i think the lobby in the u. s. is very well organized. lobby has been huge budgets of the promotion of lateral. and

a 2nd reason is pricing. so the growth of the lab drone in america, they're much more sensitive to the price when they buy a dietary incorporate comparison with the u market. where sustainability, the story, the ex passivity of diamonds are part of the buying process. what about the ukraine war? has that base to demand for lab going diamonds? yes, well, to our desk, we had an impact on both products at russia is the largest producer of natural diamonds in the world, not in value, but in currents. i did produce approximately 40 percent of the world wide production of natural islands. so you did the sanctions that the u. s. a. d u k, and canada, many other big country. so large countries, they have an impact on the big retails who so who to stop using russian diamonds in the jewelry. so i don't have to tell you that the price is that we're already historical. hi. kept going, kept going up. so this was an opportunity for the lab drone,

a tremendous opportunity for the lab grown diamonds. oh, so they had a sales bump of 40 percent in the 1st quarter. but at the same time, we noticed that the lab broke producers were not prepared for such a bump, especially in india, where they had to switch back to up to using natural diamonds because of massive st . shorted at. so what do you see as the feature of the industry will lab grown gems overtake natural ones at some point to all that's just not possible. no, i don't. i don't think this lepers an opinion. i don't think it will. so there are no indicators today that the diamond industry will fall back in the long term. so they're, you know, they're multi faceted, literally and figuratively. ah, ah, and they're, they're really deeply rooted in our culture. and in many cultures as a symbols of floss and purity, a mandate diamonds, it's not the same. and then also, more recently, we also see that a diamonds are becoming an investment product. so in china, for example, it becomes more and more

a trend where people invest in diamonds because they're very easy to keep on hand. so the volatility of the stock markets and he uncertainty of economical changes, make them as a good investment in the long term. that was ellen, young cree allen as the chief executive officer of a $20.20. thank you. you're welcome. thank you. and that is our, so for this week, get in touch with us by tweeting me at molly inside and d is the hashtag a j ctc. when you do or drop us an email counting the costa al jazeera dot net in our address. but there's morphy on line out, is there a dot com slash ctc website? that will take you straight to our page, which has individual reports, links, an entire episode, spin you to catch up on that's it for this edition of counting the cost. i money in site from the whole team. thanks for joining us. the knees and our desert is next.

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