rubbish shape. well, this is drone video showing weist that's built up behind a barrier and the drain of river. it runs from montenegro through serbia and pulse near much of the rubbish was dumped in poorly regulated riverside landfills or directly into the waterways. the problem has been made worse because of recent heavy rain daysia for to la is an environmental activist trying to bring awareness to the floating health hazard organelle. the wants to know what's going years, reward him is behind us, and there's a barrier that contains the floating ways that comes from the probation of the dream river, as well as some from the limo. this has been prevalent for the past 2 decades in dc grow and it poses a significant, logical disaster. what are the, in addition to floating waste such a plastic or also varies and household items including refrigerators and stones, people and what it, in addition to posing a significant health and environmental problem. this is

a source of great embarrassment to all of us. as we seem unable to solve this issue for such a prolonged period of this actively transformed visegrad into a defacto regional landfill. whether one chooses to acknowledge that or not, ah, you know what, you know, just here and these, the top stories, the sour, priscilla's presidents, luis enough, your lead to silva has fired the army, chief lula suspect security forces of being involved in the january 8 tags. that's when fuller, president show you both scenarios. supporters stormed government buildings of a fame to terse, size of much pitcher has been closed as the anti government protest spread across peru, the demonstrators demanding the resignation of president didn't want a and you search at the residence of

u. s. president joe biden has uncovered 6 more classified documents. mike, hannah has more from washington d. c. according to the personal lawyer, bob bower, and now bowers said as well that these documents appeared to come from a time when a biden was in the senate, as well as some documents that were associated with him while he was vice president . so not clear exactly what these documents were, but this is yet another drip drip in the ongoing process of finding these documents the by didn't administration, has attempted to take the heat out of it. and it's largely succeeded by giving an open door to the department of justice in it's ongoing investigation. turns in is main opposition party has held a really for the 1st time since the gatherings were banned nearly 7 years ago. earlier this month, the government lifted a band imposed by the former president and 2016 burkina faso. as military

government has given french troops at one month to leave the country. it comes a day after hundreds of people demonstrated against the french military prisons. many say the former colonial power has failed to improve the security. well, those are the headlines. the news continues here on al jazeera, after counting the cost. how do you state controlled information? how does the narrative it food, public opinion? how is citizen, good? listen, we flaming the story. the listening post dissects the media. we don't cover the news. we cover the way the news is cover. i ha, why moline 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, ease, 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 continence 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, increasing incomes, and lifting millions of people out of poverty. the pandemic and the war in ukraine

is exposed. the fragility of that economic interdependence. your 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 economic forum in divorce, where the un secretary general had some advice for the u. s. and china. weirdest quote, i have gold, the great fracture, the decoupling of the world's largest economies. thorndike griff that will create 2 different sets of 3rd rules, 2 dominant currencies, 2 internets,

and 2 conflicting strategies on 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. san is a progressive international trade and economic development at the university of st . 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 or going from a sprint to a joke. essentially, we're seeing a deceleration in the growth along some dimensions, but still a massive, especially digits, digitally delivered services. that's growing up, metropolis. but do you think the benefits of 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 a small number of locations. but actually, as people have looked into those,

the number of those cases are fewer than you would often think. if you, 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 that 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 yeah, about the publication has become a lot messy, but i still think it's the baseline against which policy is ultimately, just 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 again, this will happen if it's managed well internally and a lot of the problems we have the backlash against 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 get all domestic labor market sorts now, then yes, there's going to be a constraint on how far liberalization we're going to future in touch briefly on the vulnerabilities we've seen in supply chains as a result of the war ukraine coded as well. one example is the shortage of 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 undertake heater 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 bennett, 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 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 to hope 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 the private sectors really moving in that direction. we're beginning to see that in some sectors we transitioning, do you think into a new economic order, which is no longer dollar denominated? we are transitioning away from the globalization. it become an order of $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 long, 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 off in a previous situation where there's a lot of, of the blocks between the emerging market and maybe a western court. so in that sense is going to be pretty messy going forward. i think the idea that we're going to have to rigid blocks, like we saw 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, the will economies actually survive independently?

i think the, the consequences of globalization is going to be very severe for the cost of producing a number of goods. so we've benefited enormously from having large production runs by concentrating reduction in maybe a small number of places for different types of quantities. if you start chopping up those supply chains and new firms with much smaller production unit costs will be half price will be higher, inflation will be higher. so this will stand, i think we will see in a hit to our living standards. if we move toward the globalization, and this is the part of the story which the advocates of the globalization, how are not sharing with, with the public actually fascinating to talk to you simon everett from geneva, professor international trade and economic development at the university of st. gallon. thank you. thank you. ah. well, 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 find 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. aust, i'm 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. so, we've been discussing globalization in the show. how much is it to be blamed for the wealth inequality? again, a globalization is a complex one. i mean, it's certainly true the people who are at the very top of the wealth distribution of benefit law from the mobility of capital. and is your firms to invest in those countries and, and trade across countries are increasing where each of the last several decades go by. vision is also be pretty key in raising a lot of incomes at the bottom of the global income distribution. so countries like china and india, but if you to at very high levels of poverty, they seem very rapid growth and including very rapid growth, low down the distribution, lead lives,

asian have been key to reducing poverty and therefore helping to mediate some extent the rising and call you at the same time. so what is the reason behind this massive growth in wealth? we're seeing the super rich. why do the rich always become richer? so there's a long story short story. so the long run story in the past for decades also taxes on the very rich have gone down dramatically. and that means the very rich have been able to increase the share of the pine that we've had global growth of the past several decades. the rich have been taking and increasing share of that pi at the expense of everyone else. so that's a long story. but then there's also the short run story of the last 2 or 3 years close by the, the co panoramic. and they what we had was government. ready injected very large amounts of money into the economy in order to, to stimulate the economy in order to reduce the recessionary effects of the covey panoramic. now, that was closing 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's a disproportionate effect increasing the wealth with very rich which means now be a pretty. ready operate you in time as people arguing to tax back some of that wealth in order to fund some of the public 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 spike and prices of things like energy and foods. and those of course future much more heavily in the budget, the household budget people, low income distribution, poor and middle class household spend 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. ready hopefully, 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 partial reversed back. that's what i'm hopeful for. but of course, continental has any progress been made at all in tackling and equality. i would say a very interesting case here. this case of china, china had a very rapid rise and any quality offered up in the late seventy's and eighty's. as part of its rapid growth model. certain regions in particular grew very fast where it's either stagnated. i meant that they've been a rapid rise in any quoting china until a little bit after 2000 until the early 2000. since then china has been quite successful. ready in increasing social spending on port sector society, which is has be different, but also the key less. and i think that

a lot of the world can learn from china is that china investor locked in is poor regions. so it's kind of a developmental approach to the core areas to increase 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 any quality in china. and also more generally around the world received as an increased movement towards stronger or there's public pressure, let's say to stronger trade unions is a lot of labor activism. and historically labor activism has been one of the key drivers of reducing inequality. so if we support baton, if governments are willing to support increased stronger trade unions, increased light activism 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, 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 the yachts. 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 after they come back from those parties on you're feeling a lot more friendly. ready to be and as and, and don't get inclined from some policies that they're likely to compromise the interest, but actually go deeper. the math and the bigger problem we have is not just as direct access to positions for the fact that most of our mainstream media is dominated by being that owners. so they're very able and, and did 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 the very rich, the extremely popular, the mainstream media coverage or bait. and they diminish it because they owned the

media out the cells and by the interests the policies are compromised. so do you think taxing the rich or taxing the big corporations is the solution in bridging that inequality is definitely a big part of the solution. i mean, the rich have a, have a very increased share of the pie 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 threatened economy. that's funny, a large part of of strategy we should be pursuing reducing equality pretty good to talk to you pool seagal. rita in economics of development at the department of international development at kings college london. thank you. thank you. they are

found in phones, tv, computers, and batteries, rare minerals are in essential component of everyday products to spot their name. the 17 heavy muscles 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 read elements of mine. a tool in europe for discovery in sweden is hoping to change the continents for chance. a swedish stay own mining company says it's discovered europe's largest deposit of the minerals. the fun l. k be announced . it's found more than a 1000000 tons of red oxides in corrina in the north. the u. s. has increased investment in where to rival china's dominance of the market. i'm joined now by nobel mon cherry from lou van in belgium. he is the executive officer and actually general at the global ret industry association. thank you for joining the program.

mr. cherry. how significant is sweden's discovery of us by numbers? it's quite significant, but we still need to, you know, see ah, you know, how, how much time it takes to develop that mine and what is the, you know, quality of that mind or on know how much better element actually is there for in a recoverable form and also, as you know, that there are 17 elements within this relative group. and how many of the bradwell will go out up to like, you know, indeed your de mm hm. cuz your to me, i'm derby him 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 turbine, sun, electric cars, so still low,

but of what 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? the company itself, states, you know, it takes, you know, 15 years at least to develop this deposit to a fully operational in line and, and best rule for many in or any mining project takes long time to develop. ah, and, and, and, and we see 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 brady 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 does get ready for the future demand. we talked about the potential harm to the 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 sent this misconception in the general breast that your mining is om. 4 especially of out 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 shower or myanmar, but a countries like ever stern country like you know, st on it can be sustainably mind and brew 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 the are going to drive the elect because in all over the world. and if you, if you are producing given technology, new energy without carbon emissions, this of 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 rare earth 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 gave it like any other industry because of the, of the cost structure. 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, it popped off the demand that he demand will be so huge that no gun 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. ah, 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 sedimentary because to how built it on behalf all the capacity technology. ah, to do this. and barry, they will continue to, you know, drive this market in a, you know, in the near future. when you get to talk to, you know, build montera from lavon in belgium, executive officer and sector general of the r e. i a, the global where us industry, thank you. thank you. thank you so much. and that is all so for this week,

get in touch with us by squeezing me at molly inside, and do use the hash tag a j ctc. when you do all drop us an email, counting the coast and al jazeera dot net is addressed 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 that is it for this edition of counting the goldstein. money site from the whole team. thanks for joining us. the news on al jazeera is next ah, the latest news as it breaks full sonata supporters across the country. they don't take to the street until they chop all the government with detailed coverage. since lab report, when calissa fall with these from whites and given to plaid some bobby, and some of the land is not being fully utilized from around the world. the newly

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