is nearly $60000.00 russians arrived in body last year, making them the 2nd largest group of tourists. the number of ukrainians arriving is also increased for the number about a 10th of russian arrivals. the impact of this influx has been most apparent in the property market. in some parts of bali, rental prices have gone up by as much as 80 percent based on the cable. so i know that used to be relatively low on the price queue, but we're seeing a lot of russians coming here. they are willing to pay more. so property owners automatically follow the market goes up, even with rising property prices, bodies appeal has in did particularly for those clean. val. alena too is a, had a bakery in keys that moved here when things became too dangerous. when they came to body, it's like, as they're like, you know is but of those, sometimes i have flashbacks. i never forget about that because i saw

a lot horrible things. what's it? i shouldn't do this for now. she says she'll remain here. but dreams of the day remorse over, and she can return home phone 30 to 0, bobby the know again, i'm fairly bad to go with the headlines on algebra and friends that private funeral is being held for 9 and the 17 year old who was shot and killed by a police officer on tuesday. his staff has that device across a number of cities and fries despite government efforts to contain them. protests turned violent again on friday nights, filing into looting and acts of vandalism. over 1300 people have been arrested to contain a truck as crash at a busy intersection in western county. i can at least 51 people, diamonds,

with seriously injured. as the vehicle plowed into costs, dropping passengers and the wreckage police are investigating how the driver lost control and v 8 off the roads in china and expanded counter espionage law goes into effect on saturday. critics say a broad ins definition of espionage will raise concerns of increase scrutiny among foreign businesses. academics engine is the us says, the law will give aging legal grounds for accessing data house by u. s. companies in china. australia has become one of the 1st countries to allow the use of m d. m a better known as epis ecstasy and so called magic mushrooms, full medical treatment, also wi fi highest res. so now able to prescribe the drugs to tackle mental health conditions, including depression and post traumatic stress disorder. those all the headlines on al jazeera carried johnson. we have been use our for you coming up after counting the cost to stay with us on out just yet. thanks

a lot. it's frank assessments. quite frankly. what's the address? the elevator in the room? the reason the south koreans want their own new layer to terrace is because they don't trust the us informed opinions. fighting has basically lost this thing up so far that it is impossible virtually for somebody else, 7 to the race at this point in depth analysis of the days headlines. so then by the end of the states, that there is no global government to control and which means that this might affect other countries inside story on al jazeera, the hello, i'm, adrian said again, and this is counting the cost on i was to 0 your we can look at the world of business and economics this week, inflation is slowing in many countries across the world. but the fight spring

prices down is far from over. is it about to get even tougher and more painful? also this week, a flurry of commercial and defense deals between the u. s. and india. utilities. economic and diplomatic pa is rising, but kind of compete with china plus a much needed financial breathing space for them. the nation's dep deal with china could pay if the wave of the country is struggling to pay the liabilities the, the energy is cheaper and so the prices are increasing. but as a slow pace, inflation is easing in many parts of the world. but it's still higher than the target, but the central banks would like it to be, despite the most synchronized and intense monetary policy type thing in decades, the world, the central bank umbrella body now says that the global economy is at a critical juncture in the fight against inflation, it was the last leg of that johnny will be the hottest bank for international

settlement, says the interest rates might need to remain high until 2027. it's called on governments to reduce spending a day increase taxes, the cool prices. and it's one that strong head winds may lie ahead with a material risk of more financial stress, interest rate hikes were blamed in pop for the collapse of silicon valley bank of the us, which led to a weeks long banking term. well. so what's tricky about parking rates will 1st, let's see how they work. increasing interest rates makes borrowing from banks for car loans. for example, more expensive. people start to spend less because they'll have to pay more for servicing the debt. loans demand for goods goes down, and prices eventually begin to drop. but that flows down the economy. central banks are trading a fine line between raising interest rates. i'm not hosing their economies. if they raise them too much. dr. push countries into a deep recession. if they raising to little, i'm not fast enough, inflation could become more entrenched. the us, like many other central banks,

is targeting inflation up 2 percent. it's now nearly double laptop it, but the federal reserve has recently paused race rate hikes, leading them up more than 5 percent. it says it wants to assess the impact on the economy. all the banks, like the bank of england, i've stepped up the fight against rising prices. the u. k. is increased rates 13 times since december, taking them up from the 0 to 5 percent versus inflation stubbornly high in may. at 8.7 percent. the european central bank has recently raised rates, but only by a quarter percentage point. they now stand a 3 and a half percent. the heroes on area has already slipped into recession. the c b says it wouldn't be able to announce rate peak anytime soon. so why has it been so difficult to rein in inflation once long? so that with joint now from london by village patel and experts and international ministry economics, the largest, the global metro strategist at the bottom,

the research good to have you with this a bit. i just saw that, why does inflation remain so stubbornly high? we've had a really sort of unique, i guess, couple of years. right. when you think about the post pandemic situation in terms of the supply shots that we've had as a result of that pandemic. but then, coupled with the reopening effects that we're seeing from the demand side, it is really unique, something that we haven't seen for 3040 years, i guess, or ever really and in the back or landscape. so i guess not just central banks, but i'm investors, i'm this, we also is struggling with the idea of this very elevated sticky inflation. and i would sort of characterize it as what we're seeing is just the series of events and, and on unique events that have happened to the last 2 to 3 years. that a co relaxing and really permanence behind patients. that's making it really challenging because one of these, each of these events. so that right, we're almost unpredictable. and i think that's part of the challenge right now is just trying to figure out, okay, about what point do we get back hope away from sort of,

i guess this unusual phenomenon. oh, well that we've seen into a more normal situation that we've seen. i think we started seeing the early signs of that still, quite still a long way to go before we can cool victory on pollution. so like such as the things the sites and unusual situation, all the people standing around scratching their heads up above it. does the central banks actually know how to tackle this issue? is it the problem a government's not doing enough? no, it's a great question because i think it's a combination of both right? like the, the idea that central banks have the only tool in the one to treat policy tool kit to deal with inflation as well. like i think that when you look across the world, older rates said step parts of this, of the markets, the economies of the manufacturing construction. that is all starting to smoke because rate hikes. it today what they meant to be doing, taking sort of the rates since the pots with economies down, and those inflation and components also moving in the way this the real sticking point right now is the sort of services. and i guess this consumer element where

frankly it, it rates with rates on their own or do not have an, in your impact on this. it's, it's present if any binary, right? it's either or nothing, we're in the recession and substance goes down. or we know that the recession services remains strong. so, you know, if the goal is to sort of tackle that in placing element, then maybe we might need to look outside of monetary policy. we might need to start thinking about all the ways in which we can uh, you know, tackle that. and one key way. i think governments can do that is really addressing the skills shortages. the reason why we have huge demand mismatches is not necessarily because companies are hiring is just they can't get the right work. and so that's one way that governments can help out. there is kenzie about this as well . more type thing to come with the message from top central bankers at the annual gathering hosted by the c b in portugal, and they reckoned that they can do it without triggering recessions. it is not possible. i disagree. i mean, i think if you look at the type of inflation up in now, so they're trying to get down, which is really the,

the last mile. let's say that the bill has cooled it, which is services inflation. i really don't think that that's the type of inflation, not for the hikes that couldn't really do unless you damage the economy and the should create a hard landing scenario. a recession, we environment that we've seen, you know, like of the likes of quite a bit of gfc, etc. the not frankly or not what the central banks one, that's the only type of way that we're going to get out. that's really sticky impression. so i, i struggle to see an environment with the rate hikes at this stage of going to do the type of this inflation that they've won without taking some set to some, uh, industries that are very sensitive to rate. so i, i do think we're in the room where every like, now is on the, on the budget for a policy policy mistake. and one way, unfortunately, central banks have only one monday, which spring inflation done. so it's not really that fault, but they have to almost, uh, you're blind, the sort of take that, that policy objective on, on the sort of chain. and i think that that's the difficult part. but the,

and the central bank of where they have to take regulation done, but they root of, of see, you know, not paying good enough attention to some of the warning shots that are already out there. so if, if rates continue to rise, if economies continue to slow, what's the impact likely to be all the likes of you, me and then they were watching today? yeah, i, i think that the, the student outcomes are becoming very much more binary, right? either we're going to be in an, an economy with it's not what we're sending, and we, uh, you know, the rate hikes that we've seen in the pasta not going to do the same damage that they've done in the past to consumer spending because associated economic factors that have changed since the pandemic everyone wants to spend more, a lot more, like cetera. or it's just only just increasing the on the left tail, which is not that we're going to see this will crash it brand to some extent. like for this year or the ton of the i'm where you have the lots of situation. i think the best is maybe sort of mis guided by some of the underlying strength and inflation. and so the reading that as a strong economy, i see this is very stacked extra garcia. so the sticky supply driven your interest

in credit forces that are driving inflation and you take the a good example of that. and i think that when you look at some of this sort of underlying weaknesses that a stemming, you know, it's only making this one of the risks of a, of a very. so the hot dining coming coming up. so i wouldn't discount the old. so the, another s b b crisis and obviously the banking related housing related stuff coming through in the next 6 months because that's the only sort of re, i guess out of this a very sticky inflationary environment. and as briefly, that is one economies of different, of course, each, each one is unique, but is anyone getting it right at the moment? right, so this is a tricky one to get it to take to get right. because no other thing anyone, any central bank really has it, you know, inflation fully under control. i do cred credit to some of the emerging market. and countries where they've gone really aggressive, really front loaded in that rate hikes and seem to be sort of you know, dealing with inflation resources a bit better. but again, when you think about some of these emerging market economies,

they all subject to global inflation explosives, in the supply issues that we're seeing and food, and an energy as well, is going to have run for cations for a long time. so that's the chapter, a tricky thing with central bank is or any sort of global country right now dealing with inflation when you have a huge external shops that you cannot control, it's really hard to get it right there. i've just been really good to talk to you on kind of the costs. thanks so much for being with us in india over to china as the world's most populous nation in april, alongside its population of 1400000000. india is economy is growing fast. and its political power is rising to india's prime minister has recently received a lab as well come at the white house, the us president considered as new delhi unimportant pop. now encountering paging is global economic power and wants to pull it close up. the 2 leaders have recently taken that ties to a new high job, i think. and lorenzo moody announced several defense and commercial deals during

body's visit to the us. they include building general electric f for one for jet engines in india, and repairing american navy ships in indian ship yards. the 2 nations have also agreed to end 6 dispute set the world trade organization and to work together on sunday conduct as critical minerals, technology, and space. american and western companies also increasingly during business with india, apple has expanded production in the nation of the suffering supply chain disruptions in china. india has bought 220 across from boeing, the american play, and make us the biggest salable time of europe and play make ad buses recently. one of the biggest play deal with indian airline, indigo. so kind of india compete with china. well, let's take a look at the numbers. china as well did 17 trillion the economy is nearly 5 times larger than that of india bought the o e c d. so if the economic growth in india is expected to out shine china this

year, the average chinese individual has an economic output of almost $13000.00 a year. it is less than $2500.00 for the average indian china produces more than half of the world's 5 g infrastructure. well, india is way behind. they things, artificial intelligence. 5 is received at least $95000000000.00 in private investment between 2013 and last year india and so on. this received nearly 7000000000 and 4 of the was 20 biggest tech companies by revenue. a chinese none is based in india as well from china, india with joined that by me. how and thomas, a senior economist and program manager of economic kindly takes at 1st and sullivan good to have you with us. what do you make of these economic deals that between india and the us? what we're seeing in some lee is that the again, the us happy to get a beat to a few of deals in the space of defense. particularly men goes uh semi conductors

and the like. for example, we can be looking at general electric's planned investment into the indian economy to potentially john to manufacture object engines in conjunction with him. the spanish aeronautics where it expecting to see potentially in what investments into india for a new semi conductive facility. and that has also and turned in to a us driven clip coordination to secure all of the supply chains when it comes to critical vendors. so next network we a collaboration, particularly in the ed has of what you would call uh hi, a tech higher value, right? manufacturing, and without a doubt, i'd also see that these deals are in sync with what we see happening across the global economy in terms of the decentralization of the diversification supply chain . i'm sorry to interrupt you, but the collaboration? yes, but what is it specifically the india office, the us, the us con,

do for itself. so staying talking, to make note of the point that this particular juncture is definitely can be seen as the global economic heavy weight of from trying out in the sense that it's due to be dropped for the car in the school 2022 full. is it about 6 to 6.5 percent, so it's a strong robust economy to engage with. and it's especially important because this is a context in the context when western economies are facing recessionary sentiment that the feelings, the chinese economy, for example, is displaying signs of needs and the growth recovery following the lifting off, knocked down. so i'd say that in, yeah, the stable economy, there's not much to do besides that, it has to offer. and of course, a lot of demographic advantages that india has to offer to businesses looking to collaborate within their being

a little cynical. here's what this really is. about is diversifying supply chains away from china for the us. in the sense, yes, it is important because of the we have been seeing a trend of what you would call up the to we from china, or china plus one strategies. which essentially means that the, of just doing the step back following the 2019 us trying to trade was and defend emerick amber to so ukrainian was, there's been a vacuuming to global supply chain. and there's been a need to reduce over dependence on china and any specific location. so china plus one essentially means that businesses are looking to maintain presidents in china, wind at the same time, sort of expanding or diversifying that footprint across the economies. it's important to make know that it's a china plus one strategy. so china to pretty much remain in the group equation, all the good strategy just because it's such a manufacturing our house,

you have to and well entrenched when developed manufacturing ecosystem. yeah. but countries, but, but for how much longer, i mean, how much of a threat does india's fast growing economy really posed to be g? i said, so we will see that china plus one says that to india along southeast asian economies and the like. because in defense to gain when businesses are looking to diversify b on china, i'd like to have mentioned you have the strong growth potential. there's quite a strong government. so manufacturing policy trust in recent years, particularly evidenced by a 9 mock up production linked incentive scheme. side to the india isn't a prime time of space to sort of capture some of those investments as companies look to diversify b on china. what challenges then is india facing as it, as it goes up, then to become a, perhaps an alternative manufacturing hub to china?

so the 1st thing that comes to the full uh, perhaps is some of the largest sticker challenges, largest stick to cost associated with doing business and. and now, so logistics costs as a percentage of g d, p in india, up typically higher than what you've seen. some of the other major economies under the end of the day of cost this affects your export competitiveness, your trade competitiveness. but in that regard, we do see the indian economy, sorry, the indian government, having recently launched the national logistics policy to sort of control and mitigate some of these costs with also seeing a lot of mega infrastructure projects to call these costs. and i see that, um, at the end of the day of as you have this trying to plus one visit in the obviously is competing with a lot of other destinations, southeast asia, primarily so se, asia, for example, a received up or managed to attract a fair share of investments following the us china trade wall outbreak division as

a whole of costs offers competitive costs and as the put it towards a higher value at higher tech manufacturing and this region as well. so in good estimate, he has to differentiate itself, why competed with some of these locations really got to talk to you. they have manufacturing day for being with us on counting the cost to a zombie, i became the 1st african nation to default on its depths during the curve at $19.00 pandemic of 2020 the loans with more than $18000000000.00 have restricted the countries the ability to invest in social programs and infrastructure project spot . despite that, china was accused of dragging its feet in tools to provide the nation with dep relief. badging denies the obligations of it's now agree with other creditors to rearrange the payments on the video. so it'd be as public sector credits as have agreed to reschedule more than $6000000.00 of payments. private sector creditors are expected to do that to on nearly the same amount of money owed to them. the

agreement will also allows i'm the i to receive money from the international monetary fund, french president, the money on mccullin's government helped to make the breakthrough of the global finance and the climate summit in paris. so it'd be, as president held the bill as a significant milestone box. i kind of the actual name. i said that the hard work isn't over yet. in a statement on twitter, the president added that the debt restructuring agreement will be a game changer leading us towards sustainable development prosperity and economic sovereignty. but something politicians, a worry, the performance will client by lenders will hurt somebody else who a struggling with rising prices. and who's going to put the means that you would take, you know, a subsidies and these times really does that. come on, you know, of the cost of joining us now has had

a book from the inside of the a. he is the executive director of design, the institute for policy analysis and research. eric good to have you with us, eric how, how beneficial will this deal be for them be as economy? what are the challenges that lie ahead? the challenges, uh 50 this, but this brings me to gives it to the visual at least because in terms of the physical position is that you got it. so it gives you the space this physical space. i've got an instructor, pictures lessons and active to know that. so but the times is all, it's doing the form that cheese which has decreased in the space and then it has to be indifferent to, to push on this axis. so you do,

i see bethany office price on this uh, economy the process of trying to do it. instead, i say she makes the issues the issues, the niceties of interest, step by the exchange it, this is the basis for, okay, so we can do that. then we can do the changes to the dental oh, so what, what is that is the dental and the dental x. what eric does best deal say about china's position on that restructuring. and it's wanting us to write off that each of each just trying to engage the support. uh, but you see if it comes to your decision making process, it's awesome. but i think that the design is government has to be engaged,

as of it is the only just to insure me to mass the task due to the, to the the process. so we just set these def christmas present. so it was really uh uh, of the g to discuss this is not the issue we send this time is between different ballast items. so the result, i think we see that done by showing that these are the usual steps between the us and i think the, the, the price of the office, which is going to be some good news is that we sent to the properties of the printer is is poor thing, but that of developing nations, the right onset to, to they said that the outcome of this summit was,

it was the agreement to, to pause with that should. i mean it's, it should surely just be cancelled shipping that, well, you know, we have the discrepancies the way i'm digit and, well, we are just as me. so there's no choice otherwise. and what is that? i see that no stop for which one of the great. so is the pause, the pauses date. you see what the choose uh, providing prospect should be. what? so when to come back to this position. so see, this is what it would be, i call it says that the business positions flush the car. so what does it have to do back on it, which is perfectly fine just shot it. i couldn't just trying to find that that is designed to explore the minimizing the people that they

finally got to balances. so there isn't printing smoking costs, which is the low exchanges as an interest to do that because it is the she was sure it was the 2nd you might have decisions change to process the governments because um and so, so looking at this is looking for this and make sure that we are fully support. you know, the biggest problem is that i think the funding so much. so the is the message to what's needed to do say, what is that which we can borrow this money. pictures put it into production opportunities, but we also want to place the people the harric.

it's been really good story to your accounts and the cost effective date. for being with us. and that's all show for this week. if you drive the comments on anything that you've seen, you can treat me. i'm at a citizen on twitter twice and use the hash tag h i c t c. what do you do? you could also drop us a line counting the cost. it was just they were dot net is our email address. as always, there's more few online, have elders 0 dot com slash ctc. that takes you straight to a page, that you'll find individual reports, links, and even into episodes. these are captions. but that is it for this edition of counting the cost on adrian. instead of going from the scene here at the how, thanks for being with us settings on al jazeera is next. i'm sure you're part 2 question. what do you see? right, well let me see if i can change or think if they didn't notice for everybody has

different thinking. that's what space on the right. we want to do the best for children of this area. every time i see these kids just bring me right back and i couldn't control things. i was like those kids stuff. me. what is the idea? think protected. well maybe it's a brand name for something very. putting yourself in a person's shoes, you can see from a different angle. can you boys much what sonic i talk to, but in hard to control anger, technically i began to any i scream and did a poem that them angrily victory or stephen. this scholar for the children were thinking of, i'm thinking and that's why i want of this week. so thrice a new method of cremation is helping him to finish and become more enlightened mentally. and we visit the danish community. enjoy taking sustainability to

new heights, just over the notarized and the sun. so island, so they are officially 100 percent renewable. that has to be energy, right. we change on how to do the the hello i'm carry johnston. this isn't the is from, i'll just coming out on the present. a funeral is being held in fraud for the teenager is coming by to the surface that has triggered the riots across the country.