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tv   Counting the Cost  Al Jazeera  January 21, 2023 1:30am-2:01am AST

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an error of judgement in the u. k. drivers of passengers court without a seat belt, confined up to $620.00. the video was posted on wishes next, instagram account to promote the governance. les stress of so called leveling out spending public and private companies in c renewal now have to reserve 30 percent of their jobs for women in a bid to tackle gender imbalances, but also guarantees women at least 14 weeks of maturity to be co pay and training opportunities companies will be fined if they fail to reach those quotas. sierra leone is one of the lowest rank countries in the u. n. janda development index. course, you can follow the stories that are making the headlines on our website. the address for that is i'll just 0. don't com. ah, quick reminder. i told stories now on al jazeera us says it will designate the
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russian private military company, the wagner group as an international criminal group. and they will freeze the groups assets and by americans from providing funds to the organization. the white house is wagner has tens of thousands of fighters in ukraine and around 80 percent of them are drawn from russian prisons. additional us sanctions against the group are set to be announced. next, we continue to assess that wagner currently has approximately 50000 personnel deployed to ukraine, including 10000 contractors and 40000 convicts. our information indicates the russian defense ministry has reservations about wagner's recruitment methods. despite this, we assess that it is likely that wagner will continue to recruit right out of russian prisons due to recent events. we assess that it is likely there are mounting tensions between russian officials and mister promotion. a meeting of western military leaders in germany has concluded with the agreement to provide more military support to ukraine. but the question of whether germany is left for 2
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times will make their way to the battlefield remains unanswered. creating troops currently bulk done and grinding battle is russia around the eastern city of berlin has denied it's blocking the delivery of tanks from european countries u. s. and i'm still in jail for the $2500000000.00 and the keys. more efforts. asylum seekers trying to reach you, i have described being forcibly moved from italy to greece on make shift prisons in fairies, al jazeera, as pot open investigation, with lighthouse reports and other media upon us. it's our testimony by refugees being locked in small winds on ships without food or water. some of the big victims on minus 6 weeks on from the impeachment and the rest, the former peruvian president pedro casteel thousands of protest. this continue to take to the streets nationwide and demonstrations as story building and lima went up in flames. on thursday,
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i protested my demonstration in the capital for the 50 people have been killed in protest since december calling for president dina velocity to step down from up to date. those are the top stories to stay with us here, and i'll just see we're counting the cost is the program coming up next. thanks so much for watching. bye bye. and talked to al, just a or somehow abandoned by the international community. we listen, we have a process for the war against terrorism. what's going on, and someone we meet with global news makers. i'm talk about the story stuck on out . you see i
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hello melinda site. this is counting the cost on al jazeera this week from the corona virus pandemic to the war in ukraine crisis upon crisis threatened to fracture the global economy off to decades of integration. is globalization breaking down, or is it transforming? also this week, the wealth, richest one percent poked, had nearly twice as much wealth as every one else over the last 2 years. so how can the yawning inequality gap be bridged? and sweden discovers the largest deposit of rare earth metals in europe. we explore if this could help reduce the continents dependence on china. ah, the end of the cold war, free trade and technological advances of all helps create a global system that is acutely sensitive to what is happening. on the, on the side of the world. globalization has been credited for developing economies,
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increasing incomes, and lifting millions of people out of poverty. the pandemic on the worn ukraine has exposed the fragility of that economic interdependence. you're past reduced its reliance on russian fossil fuels and cut off moscow from the west financial system . the u. s. is in a trade with china. protectionism is on the rise and companies are moving supply chains closer to home. the perfect storm of events is pushing the wells, economic order at risk. the international monetary fund warns that declining international cooperation could shrink global output by up to 70 percent. the issue was high on the agenda, the world's economic forum, in divorce, where the un secretary general had some advice for the u. s. and china, weirdest quick, i have gold, the great friction, the decoupling of the world's largest economies. thorndike griff,
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that we could hear 2 different sets of 3rd rules, 2 dominant currencies, 2 internets, and 2 conflicting strategies of diffusion intelligence. this is the last thing we need. so all we seeing the demise of globalization and percentage of trade that makes up global g d p is one important measure. let's take a look at this chart. as you can see, it peaked nearly 60 percent in 2008 exports as a share of global output had been flat or lower since the financial crisis. they dipped sharply during the pandemic in 2020. but then they rose again in 2021 to almost 57 percent of global g d p. and trade hit a record $28.00 and a half trillion dollars. that's here to unpack all of that on join. now by simon even it's for geneva, some is a professor of international trade and economic development at the university of st
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. gallon. thank you for joining the program. simon. always seeing the demise of globalization. we're not seeing the demise of globalization. what you're seeing is it's kind of like a run going from a sprint to a jog. essentially, we're seeing a deceleration in the growth along some dimensions, but still a massive, especially digits, late digitally delivered services. that's growing up mecropolis. but do you think the benefits of the globalization outweigh the jeer political problems that we've seen that it's help create on that? yes, the benefits of globalization would be enormous. just talk to the millions of hundreds of millions of asians who have been out of poverty as a result of the product of the last 30 years. that has been dislocation, especially in those western countries that have been unable to retrain their labor . forces out in educate them properly in the 1st place. so there is a problem there. as for the geo politics, yes, they're awesome supply chains. where you can find sort of critical materials in
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a small number of locations. but actually, as people have looked into those, the number of those cases are far fewer than you would often think. it real. if you listen to some of the commentary, data does show that protectionists, trade policies have been growing faster than liberalizing ones in recent years. is the idea a free trade or trade without constraints finished on thank you, all right to side from my team to donald collecting information and what we are seeing is now governments, i think, thinking again about full throttle globalization, not necessarily doing it in a non question manner, some of them have been acting, especially the big players, very strategically, over the past decade, also using protection tools. so you can revise the publication has become a lot messy. but i still think it's the baseline against which policy is ultimately
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judged. do you think it's gone too far? has globalization gone too far? obviously not actually. i think there's plenty of room for going further with globalization. but it will, again, this will happen if it's managed well internally and a lot of the problems we have the access gates liberalization is because people are fearful of losing their jobs and they don't think they're going to get a suitable job afterwards or get rehired. so we've got to find ways to support people with my transition and in countries been, do this, rob a well, maybe the ones in northern, your countries like denmark, is a lot more support for globalization. i think that's the real lesson. but if we don't get all domestic labor market sorts now, then yes, there's going to be a constraint on how far mobilize ation. we're going future in touch briefly on the vulnerabilities we've seen and supply chains as a result of the war and ukraine coded as well. one example is the shortage of
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medicine that we're currently seeing in europe. the world trade organization has said that re globalization is the onset, what exactly is re globalization and is that the future? so i think what the trade organization is trying to advocate here is thinking of ways in which you can use globalization to diversify supply chains and limit the risk of being dependent on any one supplier. and i think the risk management perspective is a really small way of looking at this because no countries should be dependent on any one. so small sort of supplies, even including domestic suppliers and sometimes food out on the job. and so i think it to the extent that re globalization is really extra risk management and better diversified sourcing. that makes a lot of sense. a china, of course, one of the biggest beneficiaries of globalization, but things have changed a lot in recent years. it's now locked in
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a trade war with the united states. where do you see its relationship with the united states going could we see a 2 parallel supply chain system? the us china relationship is very frivolous at the moment. i think we are beginning to see some attempt to try and define what prism find and boundaries or to the competition between these countries. we have, the process goes forward, but it has been a rocky, you know, 5 or 10 years between, between them and to the extent of both the united states and china does find that they want to change their sourcing patent might be being less global, more regional then you are going to see companies adjust. i think that is, that is potentially on the table with a lot of regionalization of supply chain. and by the way, i think a lot of private sectors really moving in that direction. we're beginning to see that in some factors we transitioning, do you think into a new economic order,
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which is no longer dollar denominated? we are transitioning away from the globalization. it become an order of the $990.00 s. what we're going to want is still unclear. i don't buy the argument, we're splitting into 2 blocks. there will definitely be a western block, probably centered around the united states and a number of english speaking nations, possibly with the european union in there. but then when you turn to the large emerging market, so they're pretty clear that they go want to be pub western book. it's not clear that there is no western countries operate much together. so if anything, i think we're, we're going up into a pretty nice situation where there's a lot of, of the blocks between the emerging market and maybe a western court. so in that sense, it's going to be pretty messy going forward. i think the idea that we're going to have to rigid blocks, like we saw off during the cold war, goes to fall. it won't be that easy to find a word. what do you think the consequences of d, globalization or i mean can, can,
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the will economies actually survive independently? i think the, the consequences of globalization is going to be severe for the cost of producing a number of goods. so we have benefited enormously from having more production runs by concentrating reduction in maybe small number of places for different types of quantities. if you start chopping off supply chains and you write about firms with much more production runs, unit costs will be higher. prices will be higher, inflation will be high. so this will stay, i think, we will see an actual living standards if we move towards the globalization. and this is the part of the story which the africans of the globalization. how are not sharing with, with the public actually fascinating to talk to simon everett from geneva, professor international trade and economic development at the university of st. gallon. thank you. thank you. ah, well,
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while globalization is credited for lifting millions of people out of poverty, it's also been criticized for increasing inequality and the world's billionaires have been rocking up more wealth than everyone else. over the past 2 years, oxfam says that the wealthiest one percent a mass more than 40 trillion dollars in new wealth during that period, that's almost twice as much as the rest of the world. combined. oxfam says the fortunes of the wealthiest one percent of the population increased $2700000000.00 each day. a billionaire and around $1700000.00 for every $1.00 and bond, the remaining 90 percent. and for the 1st time in a quarter of a century, extreme wealth and extreme policy increased simultaneously. the report says at least 1700000000 employees live in countries where inflation is outpacing wage growth, causing hundreds of millions of people to go hungry. ok,
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sam is calling for higher taxes for the rich. it says a 5 percent levy on the wealthy would raise about $1.00 trillion dollars a year. joining me now from london is pulls the gal rita in economics of development at the department of international development of kings college london . thank you for joining the show, sir. we've been discussing globalization in the show. how much is it to be blamed for the wealth inequality gap, or clint? my vision is a complex one. i mean, it's certainly true that people who are at the very top of the wealth distribution of benefit a lot from the mobility of capital and the ability of, of firms to, to invest countries and, and trade across countries and increasing rate over the last several decades. ago by patient is also being pretty key in raising a lot of incomes at the bottom of the global income distribution. so countries like china and india, but a few decades ago at very high levels of poverty. they seem very rapid growth and
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including very rapid growth, lower down need to mean location have been key to reducing poverty and therefore helping to mediate some extent, arriving and called you have the same time. so what is the reason behind this massive growth in wealth? we're seeing the super rich. why do the ritual with come richer? so there's a long story short story. so the long story is the past 4 decades. also, taxes on the very rich have gone down dramatically. and that means that the very rich have been able to increase their share of the pines. we've had global growth of the past several decades. the rich have been taking an increasing share of that pi at the expense of everyone else. so that's a long story. then there's also a short run story of the last 2 or 3 years close by the, the co panoramic and they, what we had was government injected very large amounts of money into the economy in order to stimulate the economy in order to reduce the recessionary effect. of the
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kirby pandemic now that was any closer to do come if needed to do that to support the economy to support people's incomes. but if you like a side effect of that was that it massively inflated asset prices, which meant that massively inflated the wealth of the people who own the assets, which is of course, predominantly very wealthy. so there is a disproportionate effect. increasing the wealth of the very rich, which means now be a pretty. ready opportune time as arguing to tax back some of that well in order to fund some of the services that we so desperately need at this time. and where do you see this wealth gap going? i mean, of course, a lot of people struggling with high prices with inflation as the war and ukraine. what impact is that going to have on that wealth gap? so the one ukraine, it's led to a spike in prices are things like energy and foods. and those of course, teach a much more heavily in the budget for household budget people, low income distribution, poor and middle class household spend
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a much higher share their income on food and energy than do the very rich. so that increase in price is 70 increasing in quality at the moment. now as we see that subside, hopefully. ready well, we don't know what's gonna happen with the war, but hopefully those prices will start to come down of the next year or 2. and to some extent, we might see a posher reversed back. that's what i'm hopeful for. but of course, nobody has any progress been made at all in tackling inequality. i would say a very interesting case here. this case of china, china had a very rapid rise and inequality offered up in the late seventy's and eighty's as part of a rapid growth model. certain regions in particular group very fast where it's other stagnated. and that meant that the rapid rising and coaching china until a little bit after 2000 until the early 2000. since then, chinese been quite successful in increasing social spending on core effect to
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society. we just have to be different, but also the key less and i think that a lot of the world can learn from china. if the china investor locked in is poor regions. so it took kind of a developmental approach to the core areas to increase the productivity and through that to increase the wages of, of workers in puerto regions. and that's been highly successful in stabilizing and maybe even reducing inequality in china. and also more generally around the world, we see there's an increase. ready movement towards stronger or the public pressure, let's say towards stronger trade unions is a lot of activism and historically lay activism has been one of the key drivers of producing inequality. so if we support baton, if comments willing to support increased stronger trade unions increase, play back to be some and simple policies like raising minimum wages. those have been those policies have been proven to reduce any quality historically and they can do it again. if the political will, you touched on tax, we've heard from oxfam and, and all those doubles,
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calling for taxes on the super rich. it's not a new idea, but many governments have resisted it. why? the simple reason is that billionaires and other very wealthy people tend to lobby governments to persuade them, not to do it. i mean, they're always inviting senior politicians to parties on a yacht. we know that happens. it's well documented. it's not even surprise to hear it. but it's not that we shouldn't be surprised either that after they come back from those policies on the feeling a lot more friendly towards that as and, and don't feel inclined from some policies that they're likely to compromise. interest actually goes deeper. the math and the bigger problem we have is not just as direct access to politicians, but the fact that much more mainstream media is dominated by being that owners. so they're very able and, and do it all the time to get their media outlets to essentially promulgate their interests. the arguments are in favor interests. and even when you have a very popular policy, like a wealth tax on a very rich or distributed popular,
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the mainstream media coverage or bait. and they diminish it because they owned the media. and by his interests, the policy is a compromise. so do you think taxing the rich or taxing the big corporations is the solution in bridging the inequality is definitely a big part of the solution. i mean, the rich have a, have a very increased share of the high compared to 40 years ago. and and that means that simple redistribution simply taking money from those who have excessive amounts of it and restricting it, redistributing it to others, especially by public services and public investment that helps boost productivity and well being through the economy. that's certainly a large part of, of strategy we should be you introducing equality pretty good to talk to a poor seagal rita in economics of development at the department of international
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development at kings college london. thank you. thank you. they are found in phones, t, v's computers and batteries, rare earth minerals are an essential component of everyday products to spot their name. the 17 heavy metals are found in abundance in many parts of the world. but mining and extracting them is costly and harmful to the environments. china dominates the market and no rare of elements a mind, a tool in europe. the discovery in sweden is hoping to change the continents fortunes. a swedish stay own mining company says it's discovered europe's largest deposit of the minerals, the fun l. k. a b announced it's found more than a 1000000 tons of ref. oxides in corona, in the north, the u. s. has increased investment in were us to rival china's dominance of the market. i'm joined now by nobel mon cherry from lou van in belgium. he is the
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executive officer and sexy general at the global rep uh, industry association. thank you for joining the program. mr. mon cherry, how significant is sweden's discovery of ref? by you numbers? it's quite significant. but we still need to, you know, see ah, you know, how, how much time it takes to develop bad wine on what is the, you know, quality of the mind or on i'm not how much. ok, but a element actually is der, in a recoverable form. and also, as you know, that there are 17 elements within this relative group. and how many of the rad doable, loud up to like, you know, n d, your, to me, m plus your to me, m t, b, m, on, on dispos him are in that deposit, which is necessary for the, you know, for the high performance magnets which are used in the modern technologies, you know, like our laptops, mobile phones. now when done of g t r, bayne,
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sun electric cars. so still, l. o forks needs to be done to identify how economical would be the deposit to be mind. and what kind of time frame are we looking out for getting these rare materials into the market? going to the company itself, states, you know, it takes, you know, 15 years at least to develop this, the posting to have fully operational in line and, and best rule for many in or any mining project takes long time to develop. ah, an an, an, an, a, b, c? no. okay, we have the material now 151520 years is not bad because the demand we for see in next, you know, 25 years. so there are products that get birdie by this time. then there is a huge surge in demand. demand is actually going up. so it's a reasonable time that the more, you know, all the deposit up, get ready for the future demand. we talked about the potential harm to the
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environment in getting it out of the ground, but it's also very important for the future in terms of green energy, isn't it? how do you get that balance? right? and i said this misconception in the general process that your mining is on for a specific amount of mining is harmful. it's, it's not the case nor it's, you know, in some examples you have that, you know, mining has caused some environmental problems in countries. name is shiara, man, mar, but a countries like ever stern country like you know, spirit, it can be sustainably mind and brain goose on processed. and, and you said this is where the in bought. this is called industrial white means. now you don't need huge quantities like corporate or aluminum. you need tiny quantities off these elements, which is necessary for, you know, for the n o detention if he are going to drive the lead because in all over the world. and if you, if you are producing,
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give internal g new energy without carbon emissions. these are the ingredients that you need to have. we know that europe has been aiming to reduce its reliance on china when it comes to these kind of ref, materials we know the u. s. wants to rival at beijing's dominance. where do you see the market dynamics going? china has been working on china, go to good ah, deposit of these elements and it has been working last 30 years tirelessly to develop and, and move in the value chain. and actually china didn't day. kevin, this from, you know, western countries actually v give it like any other industry because of the, of the cost lecture. so he gave you know, all that thing to the, the, the, the, don't it being world ah, and, and then asked. there are also a number of projects you know, coming up in advanced countries like was fairly a canada couple of african countries and also in south america,
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it bought off the demand that he demand will be so huge that no gun and be single handedly can manage this demand and can produce even china states itself in a big cannot be the, the, the factory of the world, especially for these elements. and so, and on the end of the, you know, the, the global warming claim a chain is a global problem. so we have to solve it, and we have to find solutions globally on so, so it's kind of elements spread. you saw j. china can only meet the demand in europe or us, partially and on. china will still dorming lead the market in the settlement because to how built it on behalf all the capacity technology. ah, to do this. and david, david continued to, you know, drive this market in a, you know, in the near future when he got to talk to, you know, build montera from live on in belgium, executive officer and sexy general of the r e. i a, the global where us industry,
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thank you. thank you. thank you so much. and that is all shy for this week. get in touch with us by squeezing me at molly inside. and they use the hash tag a j ctc. when you do all drop us an email, counting the coast and al jazeera dot net is our address of this movie online on al jazeera dot com slash ctc. that will take you straight to our page, which has individual reports, links, an entire episode being new to catch up on me. and that is it for this edition of counting the cost i money in site from the whole team. thanks for joining us. the news on out is era is next. ah ah, the answer was an arabic, my name is held, i was abducted by the cia in 2004, a german citizen was kidnapped and tortured by the cia, came up with handcuffs,
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led me into interpretation of powerful documentary tells her story of how the geo politics of the post 911 world grew in the life of an innocent deal mastery case. on al jazeera, 15 year old jen as accountant, used to play on this rooftop with her brother at ham. cousin hallad and her cast glue. at him was the one who found his sister's body late on sunday, a row. after the israeli forces withdrew, i came back home. my uncle told me to call jenna. i found her date and the cat was next to her. i couldn't believe my eyes. friends say jen, i like to paint job and watch soap operas. the family says she used to help her sick mother. now they're all facing life without her. john, i would have turned 16 date for this month. instead of her birthday party, family and friends gathered for her burial rights organization defense for children
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international it says more than 25 percent of palestinians killed by israeli forces in the occupied with bank this year with children. many like at home, see their friends and family members being killed and fear they'll be next. diet. define who we are. but who are way, if we don't know what we're eating in a disturbing investigation into globalized food fraud, people and power reveals long hidden scandalous practices to def, infiltrated international wholesale markets, and supermarket chains. and asks, what's really on our plate. food in glorious food on out joe's era. ah, for us to designate the wagner group as an international criminal organization for supply mercenaries to russia.

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