tv Counting the Cost Al Jazeera February 23, 2023 2:30am-3:00am AST
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has already meant to last for another few weeks, but there are big questions as to what's behind the supply issues, mainly from which countries these supplies are coming from. and what are the climate issues that have been affecting them? 2022 was the 2nd hottest year on record in europe. heat waves and extreme temperature, and one of your biggest food producers, spain. many fewer available crops to harvest. the giant gas heated greenhouses that grow fresh produce in countries such as the netherlands, have been affected by the huge rise and energy prices caused by the war and ukraine is climate change begins to bite. we will see these impact on the u. k. food supplies, but also on the u. k. hard pressed farmers who are already paying $100000000.00 millions of pounds extra for fertilizers, am for energy because of the price of gas and who are also seeing themselves exposed to the impacts of climate change light. last year's drought and the u. k. face is one of a particular issue. most of the countries vegetables come from the european union,
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and britons exit from the block has much extra costs and bureaucracy has added to the strain, especially for perishable goods. the solution food producing organizations say, is the government to give much more support, replacing high carbon fertilizers with low carbon alternatives and focusing on ways to protect against the extremes and whether that up because the new normal. so if i go out to 0, london. okay, let's finish the program with some great pictures from the arctic circle. this is a place called job mach in sweden. and what you can see, there's some weight orders who've been showing off the news while navigating an ice obstacle course to make it look incredibly easy. ah,
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this is our desert. these you top stories, least 11 palestinians have been killed in an israeli raid. and the city of knob, los and the occupied westbank, falling incursions by israeli forces in the occupied westbank have intensified. $61.00 palestinians killed since the start of the year. joe biden has told the leaders of nato's 9 eastern european members that they form quote, the front line of our collective defense. yes, president has just left poland where he's been running support for ukraine. china's top diplomat has called the countries relationship with russia. rock solid wine, ye was meeting vladimir putin in moscow just 2 days before the anniversary of russia's invasion of ukraine. the world health organization says is taking advantage of temporary easing of sanctions against syria designed to allow easier distribution of aid off to the recent earthquakes. you organization has scaled up
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its supply of medicines to the war torn country. the u. s. has millions of people across syrian turkey on living in tents and temporary shelters. seattle has become the 1st city in the u. s. to ban discrimination based on cost. those from the city, south asian communities who back the law said people facing cas prejudice had few protections. opponents argued existing anti discrimination laws were sufficient. there's the headline news continues here on how to 0 to counting. the cost would be lou, a good
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reconstruction efforts off to earthquakes into kit, and syria could cost billions of dollars. that bill is likely to worse than tech, he is already struggling economy. so how will the country cope also this week? people in north western syria feel abandoned by the well off to the devastating earthquakes. the un has increased, it's a deliveries to the war torn country. is it too little, too late? nearly a year after russia invaded ukraine, the nation's economy is wrecked. financial aid from western donors is helping some businesses survive, but is it enough to keep the entire country going take, he is worse. earthquakes in nearly a century have kill tens of thousands of people flattened entire city blocks and wrecked businesses. response efforts are shifting to coping with the aftermath and providing shelter, food,
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and medical help to survivors. attackers president has promised to rebuild affected areas within a year. he's allocating more than $5000000000.00 for initial disaster relief, with cash handouts for families. but business groups say the total restoration bill could exceed $84000000.00 or so said our reports life has come to hold in the torture city of the on sister earthquake stroke last week. and nothing symbolizes that more than dis clocked over the landmark of the city, the clock stop went to question the region like many others here. job if this debt has sent his family members to stumble because of the devastation. though no natural gas, no electricity, no water, nothing for food. we rely entirely on the aid distributed into 10 city. more than 1000 buildings have collapsed here and around 10000 people lost their lives. those who survived are no striking. only 25 percent of the city has water of the pipes
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were heavily damaged. it will pay days if not weeks to repair them. 60 percent of residence are living without electricity. none are getting natural gas. this was the largest stadium in our the i'm on it has now been turned into a tense city that's home to more than 5000 people. churches and vitamin to an urban planning minister and were at groom told al jazeera that the government will provide people with more shelter and promised harms will be quickly rebuilt. it, it is now some parts of the city are provided with electricity, him, water. we are repairing the infrastructure of the city. now though, for natural gas, the process of damage assessments is continuing. once we fix the pipes, public buildings such as hospitals, schools, and buildings that a slightly damaged will be our priority to provide gas. we will rebuild the homes within a year. did he go? luxury business here has also been disrupted and must shops have either collapsed
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or, or heavily damaged. this is what is left of his erstwhile shop villas at o. c. we have lost everything. whatever we had in the shop is gone. we don't know how we will resume our business again, but at least my family's life. according to some reports, the earth page have already crossed turkey. more than $80000000000.00 in losses or 10 percent of its cross domestic product in the, on the scale of destruction is immense. and the displacement of survivors is becoming the humanitarian crisis. rescue here, i know he had a fever voices from under the rubble there gradually shifted from find them buddies to clearing the deputy and for whitening the essential goods as services to tens of thousands who have survived this. instead of that of the iraq or the southern turkey are joining us for miss dumble is her con, boss. she's the managing director of strategic advisory services. many thanks for
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joining the program. so the scale of the destruction caused by this earthquake seems so immense. do we have any idea yet of the economic impact? thank you so much for having me. and also i want to thank all your views for mazing . ready turkish people during this very difficult time, and the humanitarian last has been overwhelming. obviously, you need to move on and they've been lives according to early estimates. right. we will be looking at $84000000000.00 of economy cost and almost $70000000000.00. it would be in the infrastructure and the housing side and around $14000000000.00 in terms of loss manpower, as well as impact to the g d p. i would expect probably up to 2 points
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of g d. p growth from the turkish economy side this year alone, one 3rd of steel, manufacturing and exporting facilities, actually had been built in this region. and dave are not physically operationally impacted by the los their employees. and from that perspective, they would be losing production. probably they would be, they would say close probably till the end of march, and on top of it, these can, their own port also had been impacted, which is a major's at a g steel export toward this region. it contributes about 50 percent of turkey agriculture output. it will be impacted on the production site in addition to the, to the steel industry. obviously, the pitch styles and logistic infrastructure is also very impacted from
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the force perspective. you know, even like godaddy, which was one of the bursted cities alone contributed to 5 percent all turkey's exports. so you are going to be huge apology is picking you up on the agricultural side of things. is that going to have an impact on food insulation? which turkey is already been dealing with? yes, we said this point, we have 5 significantly more problems and inflation. but before these quakes, it contributed a great deal to the poverty and cost of living. the official number was about 65 percent annual inflation. without any doubt, with this, it will impact the domestic. i'd be cultural, i'll put that for the supply should be hurt and fortunate the negatively hurt the the price to add onto the cost of living and charging what sort of impact do you
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see on the housing market. you touched on it, but of course we've had this whole controversy around building codes and so on. what impact exactly, is it going to have on the housing market just to share with you the magnitude of the scale over a 170000 buildings have been impacted about 25 to 30000 of them at beat. it is basically gone or impacted. so i rebuilding this whole region is going to very important, but i think there is also the regulatory drama as the sort of moral side of the story because it's lated in 2018 turkey passed in abilene. a law for all the zoning in the region in the country, but also in the region which is where basically you issue a building code building license to stop by building. so this is really expose the
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on the paintings of all the shandey construction that has been going on for the last 20 years. and unfortunately, this is part of the populace moves on the out of the government or any government to really issue these licenses in exchange for votes. and if you will know, turkey was headed for elections on may 14th, but that will surely have an impact on that, as well as the se, massive reconstruction needed. can turkey afford what it's going to cost to rebuild these areas that happened? destroyed? yes, it again goes turkey is a do $20.00 country and construction has always been one of the leading sectors, the economy and, and also these numbers, although they've been looking at tens of thousands of dollars with the support from
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a domestic and international resources organizations. they should be able to rebuild lives. it's going to take several years and it's going to impact a never be the economy and all the talk to people through our taxes would be partially paid for this. but i think this is going to be one of the probably most manageable parts of this search quick, if you are a foreign investor looking at turkey right now. what, how you looking at turkey in the short, in the short run and in the long run? this was probably one of the deadliest disasters in the history of mankind. and from that perspective, a reference to anybody. and as an investor, as a strategic investors, i would tend to look at the meet to long term fundamentals of any country
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including 30. so from that perspective, before the quake, obviously it was a young, vibrant gillian economy way. it's very hard to get validated. basically book force and also it, the location of the country is a very strategic as part of the customs union with you as well as being it literally a strategic point between east and west of very again, very vibrant economy as well as the infrastructures from telecom to education, it is still a high, long term, high potential emission area. and also especially these times i think one would really a look at the timing of the investments. and before these quake, it was already probably one of the cheapest places in terms of asset
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prices. in the book, so from a return on investment perspective, you won't be before these quakes. so if for any long term message, strategic game plan is definitely needs to be put on the agenda. really interesting to talk to you how can bash managing director of the strategic advisory services took interest from a stumble. thank you, sir. thank you. sorry for the situation in syria is starkly different to that. in turkey, a little international aid has reached parts of the north. most people that were ready displaced because of the country's civil war. now the earthquakes compounding their misery. more than 4000000 rely almost, and tati on a to survive. aid workers have pleaded for help, but the u. m. has acknowledged it's failed to deliver. it's now appealed for nearly $400000000.00,
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an aide and boosted deliveries to the area off to getting permission from the syrian president to use to move border crossings from turkey. the u. n. was previously restricted to using just one border crossing approved by the security council for a delivery. all the agencies in countries in the region have sent a shipments by air to damascus international airport. but none have reached areas on the opposition control. joining us from wellington in new zealand is cut them, saw an economist on non resident fellow at the middle east institute. thank you for joining the program. so why has the international community been so slow to help syria? i think there is a combination of factors. one of the factors is the, the fact that the asset regime has such a long history of diverting aid and stealing it at times. however, the situation in northwest syria was different. that part which is held by the
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opposition received far less aid. not because aid is being diverted, although it is being diverted, but to a far lesser extent, compared to regime health, syria, but their, their response, there was virtually nonexistent because of the united nations refused to activate its emergency mechanisms and to deliver aid to people in that region without the permission of the the security council or the asset regime in damascus. so the only crossing from turkey into north northwest syria, which is that bill hello. are the only crossing which was authorized by the you and for delivering aid was not accessible in the 1st few days. most critical for rescuing lives in the 1st few days of the earthquake. so that meant that the you and could not deliver aid altogether to northwest syria. now the response of other
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countries also by laterally was very disappointing. virtually no aid was delivered to northwest syria, which is the, the part most vulnerable in the country. basher al assad, blaine, the sanctions that the u. s. has put on the syria for the lack of aid is he right? sanctions do play a role in him during the humanitarian response. that's just a fact. however, the impact of sanctions on the humanitarian response is hugely exaggerated by the asset regime. so what's actually limiting that the delivery of aid is the factory of the regime the, the diversion it's, it's a factor that matters a lot more than sanctions. now do say, how do sanctions hinder the humanitarian response? so say you are an organization based in any country around the world and you want to send money to,
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to syria. you would actually struggle to send that money using the formal channels because of western sanctions on syria. now what i mean by saying it hinders the humanitarian response, but it doesn't stop it. there are many alternative ways to getting that money into syria. there are other impacts for sanctions on the humanitarian response. however, their impact is hugely exaggerated. what is the humanitarian situation in syria now is a getting in, in a nutshell, the humanitarian situation in the country has never been worse. it's not even during the 1st world war when syria was still part of the ottoman empire, aid is getting in and even though it's actually, it's been dwindling over the past few years with a donor fatigue. it is actually getting in. the main issue is that it's being politicized. it's being diverted. and that's why most people are actually not
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benefiting from it. what more can the international community do to help applies the syrian people? i mean, i think the number one thing that needs to be done is pushing for a political settlement. that's the only thing that's going to help the country stand on its feet. again, a political transition that restores the hope of syrians in investing in that country. in bringing their money back from abroad into syria, there are other things which are more operational that need to be done. for instance, aid that's forming the backbone of the economy in syria. now that needs to be distributed more equitably. so people who deserve it need to have it and it's being stolen all around the country to, to varying degrees, obviously. but something needs to be done about it. and if you allow me to just add the very last thing, i think there is an issue with the united nations as an institution,
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responsible for delivering humanitarian aid. it remains obsessed with its protocols and that the sovereignty of its members states instead of focusing on humanitarian needs. i mean one of the main 4 pillars of the humanity of a humanitarian response is that the relatively relativity of needs that is not being met in syria. people who need a, the most, i'm not receiving it. come saud, an economist, a non resident fellow at the middle east institute. thank you so much for your time . so, russia's invasion of ukraine has uprooted millions of people from their homes, cut off access to its ports, and disrupted, forming more than a 3rd of the nation's budget is being spent on battling russian forces. the economy shrank by more than 30 percent last year. that's the largest decline since ukraine declared independence from the soviet union in 1991 tens of billions of dollars and
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international aid has helped the government to continue to provide services. the u . s. has provided nearly $50000000000.00 and military financial on humanitarian aid to cave. almost half of that went to the military. several e institutions provided more than $35000000000.80 ukraine. majority of that amount was allocated for financial help. the united kingdom was the fed, highest contributes of aid to ukraine, with more than $7000000000.00. pledge between january and november, the arm f says ukraine needs at least $3000000000.00 a month to finance. it's war time economy. and it would cost almost $350000000000.00 to rebuild the country. ukrainian officials want western governments to use rushes, frozen assets worth more than $300000000000.00 to fund reconstruction efforts. let's dig in more into the cost of russia's invasion on ukraine's economy with
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joint from london by you again. yes. lip sofa who is a senior economist at oxford economics. thank you for joining the program. what is your assessment of your credit? his economy almost a year now into the wall moving he has done better than here in the beginning. ringback of the colossus was around 50 percent in march and april, by the end of the year, this contraction narrowed to about 35 percent. that not standing up mr. fox and the friends energy infrastructure. so for the years, the all, if contract to buy $0.30, i mean, which is a huge blow. but the economy has been large and it's still functioning. why do you think that is the case? well, there was 2 elements that were crucial. the domestic response, which was very effective for monetary and fiscal response. fixing the reason the
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on the currency in implementing capital controls avoiding have been cron also affect to bank commercial bank response and fiscal authorities. and these are fixing of the reason and close capital controls will also enabled by sustained international support so that the central bank could replenish its reserve and, and the rest of the international helped at all when supporting the budget and, and military help all of those elements are very important, but those loans are going to have to be paid back at some point on they, on the debt is building up for future pace. about half of the money that came last year came in the form of runs. it was but $32000000000.00 that ukraine received. 15, those down or 17 event was wrong,
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mostly from the us. for the month of new debt was negligible for around 15000000000, but it was given a, a scale of disruption. it was, it was not extraordinary. and to, to, to, to p is about 85 percent of 2022, which is again huge. but a lot of countries in peace time have similar levels. i'm going to reach about a 100 percent. i mean at the moment they are all day every payments on august nominated data is suspended until 2024. so it's actually, your brain is over a gene on technical difficult essentially, the majority of funds have been coming from the united states and the united kingdom. both those economies have their own problems and economic challenges. is that concerned that at some point they wouldn't be able to give as much as they
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have been giving? well, i wouldn't say that the u. k has been one of the biggest providers for help. it's basically the us. yes. the lines share on the you. so much financial assistance from the you. yes, there are very strong internal push back to, to this process. but there's still really a consensus at the end of the day that it would cost much more if this security situation got out of control. and only if you're grained, lewis is this, or it would have implications for broad international order for the security in europe and security in europe is very important to the us. so at the end of the day, i think there might be more scrutiny given the republican majority in the us or thing. they majority of the democrats,
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depending on which part of the congress you speaking, may be more scrutiny. but today it seems like at the moment veins national partners actually are planning to make sure that this help is more regular this year than last year. and so that they indeed make sure there is around $3000000.00 a month this year. ukrainian officials have suggested this idea of turning to russian assets seized assets to fund the reconstruction of ukraine. how viable is that as an idea in, in, in the slow process? because legally, and so this, the thing that they desire to make russia thing. and we all make sure russia pays for the rate of construction. if not, everything is hot. the western partners want to make sure they don't set
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a legal precedent with all central banks will be afraid that there can be can be seen. and then it will be a problem essentially for dollar and reserve currency. so the process will be and will be slow and legally very, very thorough at the moment. there is already some early progress already being made. and even on the conditions where this money will be temporarily used and then return, i mean, it's not an easy process and i think you bring in economy will not be able to wait until they see issues result ration, money will be coming for this purpose. oh, really interesting to speak to you again. yes. slip. so the senior economist at oxford economics talking to a staff from london. thank you. thank you. that is all show for this week. get in touch with us. bye sweetie. me at money side. do you use the high side
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a, j, b, when you or you can office at a mail accounting because out there a dot net is our address. on those move for you online at al jazeera dot com slash cdc, that will take you straight to our page, which has individual report links and be to catch up on that. is it for this edition of counting the call time on the inside from the whole team? thanks for joining us. the nice on out there is i ah a.
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