residential next month, hoping to implement policies that could save one of the world's most important and fragile echo systems before. it's too late. i listened that i'm good. i just need a book that the i know again, i'm elizabeth rhonda mendo have with the top stories on ours is there on the us treasury secretary janet yellow and has wrapped up a full day visit to china. she's a serious concerns about what she says. a china is on say, economic practices the us in china have significant disagreements. those disagreements need to be communicated clearly and directly, but present in spite. and then i do not see the relationship between the us in china, through the frame of creek power conflict. we believe that the world is big enough

for both of our countries to thrive. both nations have an obligation to responsibly manage this relationship to find a way to live together and share with global prosperity. russia has a chance to kill a violation of prisoners swap agreement by releasing 5 ukrainian commanders. they made the resistance of the as of stalls deals on the last year about surrender to russian soldiers, human rights groups of age to new z a to suspend the expulsions of african refugees . hundreds of people around it, off and driven to the mid july zone, along the tennessee and living in border this week and farms. thousands of people have defied a band to motion paris to commemorate a black man who died in police custody in 2016. tensions have been high and from soft police killed a 17 year old and 82 weeks ago, sparking riots and protests across the country. a delegation of rules as soon as he invested as an

e u representatives as visiting janine and the occupied westbank 12 palestinians were killed and a major is rarely assault on its refugee camp. earlier this week, they will assess the optim off and damage close to homes and infrastructure is why the bulldozers and as tronics destroyed roads and bullshit and electricity lines. leaders of columbia and brazil, amazing in the southern columbia and city of leticia to try and map out a plan to preserve the amazon rain forest. it comes off with the present in government, announced deforestation is down by at least a 3rd since president luis anacio and due to the silva took office for those of the headlines on alger 0, you can always keep up to date with all the news on our website alj a 0 dot com. the news continues here, off accounting, the call us thank you for watching. facing the un fits of purpose was like many critics sites just pub solution doesn't get anywhere near enough done to the amount of money that is put into

a hard hitting in to be this. do you think look to the lines on washing? it's enough for money to go on its own and built it's on don't providing on for centuries, people have been taken care of are. so i have every confidence that future generations will do it as well via the story on told to how does era, the hello, i'm sammy say them. this is counting the costs that i'll just say era. you look at the world of business and economics this week, the cost of rights and fonts, adding up the nation has massive debt and aims to restore public finances. so candidates find its way out of the crisis. also this week, as the wheels of electric cars spend the race and if the heat,

soft plus spots one, the spot thing diamond deal, the ask the nation getting a bigger share of its gems. off the tents, negotiations with mining company to be is the thousands of cars, torch countless shops looted and bangs attack during several nights of riots and fronts. beyond rest of the shooting of a 17 year old by the place is estimated to have cost hundreds of millions of dollars on the full that says yes, now the challenge for the presidency manual micron. he's already faced months of protests against pension reforms, for the nation is drowning in debt and aims to comp spending for them on a 100 reports parisians, business sooners, or taking stock of the damage, the suburb of sea nights of rising and losing up the police, shooting of a 17 year old, some locals to sympathize say this isn't the right way to bring about change.

consent for that, or these damage won't bring a solution. so we have to find democratic responses. we have to respect the law. you can't just create care. so who ends up suffering? it's the force of all gets us walking people, so it wasn't just businesses that were attacked. stadiums were damaged, cars set on fire. the cost is expected to run into the hundreds of millions. the government has no measures to help struggling retailers will do multi duty. we found some companies to reduce insurance deductibles as much as possible. we also offer good french banking federation to show the utmost understanding in terms of handling due payments for retailers and entrepreneurs who may have been affected by these acts of vandalism. enough to hold it to the french present. a manual in the crowd has met with local officials, but many feel not enough as being done or not on the right password. it's not the local elected officials who are responsible for this tension and damage. and we are

waiting for action on city policy. there has been no direction from the government for too long on the problem. the latest on risk comes as prompt space is a range of economic challenges. the crowns attempts to get public finance and order have been met with strikes and protest, particularly as push to raise the age of retirement. government spending was slight during the pandemic, and public debt has passed more than 3 trillion dollars. credit agencies are wary, some already downgraded france in april, and their warning, their own rest and instability could have for attempts to rain in the deficit and get the economy growing bins and bother him for counting the cost as well. joining me now from paris is felipe. wish the city is chief economist. that's awesome. asset management. good. have you with us. so for they take us to the economic full now. so the right so far look too much should oh, we're a instead of the furniture institution,

as particularly distribution good does allow for a rebuttal, child or what happens when there are riots with xerox tribes. and what we see is a very short term effect. but after that we ever capture and the situation is boosted on what we can expect when we are here is this dry of salt in this price. so there is no uh, but the real issue as you had with the situation. all right, so the impact not that big, but when we talk about strikes or riots, i mean all of this really exposing some of the social on the line. social tensions comes from a full to address, particularly some of the issues which prompted the riots like housing, education, and so on. those kinds of any qualities that to 6 to, to, to keep in mind the range or by the, or your discounts,

the price provided that are kind of each time that works well. well, not rest assured, we will probably won't be in repetition gesture, but at the same time, we're outside of the rating agencies. i'm sorry, let me jump in the credit rating agencies, they all sounding the alarm over the level of debt, right? even if, as you said, the company is not in recession, that's such a point where we have social issues. are the riots we have uh this week. and the reason before was to change the wages of the social or the social issue, the governments i've tried for yours, add to zimmet g bar top, put this a source for these balances. they found a lot, a reduced type to add as, as a matter of fact we, we had a lot of that. and that's, that's a real question. we are,

we were mentioning that, you know, in the a by 3 and show by the pool. uh, all of these, uh, uh, drugs she's got to go to a, a ready to do, to the french trinity. we saw the final was the center of the, of their worries. and so this is clearly a, an issue and we, we don't know exactly how to buy the edge that we re lot of that we have very high visited. but i'm sure our quotes and concepts the ser. uh, so sort of managed by then to relate to the, to have a lot of funds to identify the, the bottom of this imbalances. but i'd say funding for impact, but we're trying to get to the back of the on that so that so hang on. so from this ready caught between these 2 forces, right, i mean, the finance ministers, promising to put finances back on track. but to do that,

does that mean for the cops and social spending and, and more into quality problems such as the one important point? what we saw in the past is that some of the finance minister is always looking for a buttons, bitch at. but the idea is very, very good because of french besides the love by the, by itself. and so we need to spend a lot of the, because the, the, you know, we, we have the rather age in preference on this, this issue. we are trying to coordinate candidates both at the same time, a lot of social issues as the government and my cause. pres, marco, i've tried to back ones and 2 as to really much. we had a, a reform of the retirement quote, which was the reason because the more people we go retirement and so we need to

do to follow the retirement keep. so it was tempted to, to, to change the of the situation. but the same time uh we, uh we, we, we did to, you know, more than the other. uh, you know, the father visitation, the, uh, the on the east side. uh just all the time. that's why it's very, very come, you know, so what's the bottom line then? philly is that as you put a balancing act by the government, is it failing? why does that leave economic growth? no, it's too robust. it's not a whole drug produced to robust. and we have, or because of that has been put in place by you to dissolve our cold, which has cold 122013. uh we tried to, uh, uh, uh,

growth in france in the uh, relations reputation. and it starts working. uh, that's very, very important to us as a certain time the level of employment i've, i've been uh, i've hired to to know in the past. so we have really positive a future machine, but we have only sort of balance. and that's why the situation from outside is competition to, to drive this time. it's all to understand the process, but it's much more as it's to drug this time it from the outside. but we have some but as cool moment tom on the vision on jobs, job spray. sure, that's drive. so g, uh uh, let's see. trisha dog, dog, dog, dog. i but i have the right. it looks pretty good. okay. yeah, you're for, for the portal, i would type products been great talking to you for life. thanks so much. thank you very much. the, it's the,

the white gold lithium is critical to the production of electric vehicles in small phones. but the, the sales are growing around the world demand for the metro could out strip production by the end of the decade, with governments racing to meet the renewable energy goals. mining funds and comic is an al, scrambling to lock in most supplies. chinese companies and russian firms will now invest more than $1000000000.00 in the extraction of the match with in bolivia that follows a similar major deal buying chinese battery may cause c a t l in january. china dominates the lithium supply chain. the us and europe trying to catch shop. meanwhile, comic has like general motors and for the taking the right steps of buying stakes and mining firms, bypassing traditional suppliers. according to the us geological survey, there are 98000000 metric tons of lithium globally. nearly 60 percent is in

3 latin american nations, but it should like an origin tina known as the cm triangle. global lithium production is led by australia g, late china and origin, tina. they comprise more than 95 percent combined. but badging controls nearly 60 percent of the world's lithium processing fluids network of refineries. the us is only one working mind despite being rich and the metal. washington has recently introduced a new bill, which includes tax credits on a visa that sol set back for a rule materials domestically. europe plans to ease regulate tree battery is to open its minds. but the move is opposed by campaign is concerned about environmental and social home in northern origin. tina there are vast amounts of lithium indigenous communities. fear mining companies are eroding the land rights.

many people in the province of hawaii has taken the fight to the streets. mike lapel reports the members of this indigenous community in northern argentina have been blocking roads for days. they worry about what they see as a threat to the livelihoods, constitutional reforms that could open up the land to exploitation by lithium company. then are you going to what, by doing for our rights to be respected as dual regional communities that have lived here for many, many years. we want the governor to revolt the new constitution and to resign. for decades, indigenous communities have survive, growth, capital, tourism insult. they say all of these could be undermined by large scale mining to look over the think above all this conflict is happening here. it's unusual for us . we're not used to this, and we're so afraid they want to change laws. and as usual, we won't have any right, that is a good the constitutional reform has sparked violence. recently,

the government tried to move, protest is by force, dozens of people were injured. the governor says he's put 2 of the all schools that are off consent to the indigenous communities on the phone, whole go in the i cannot say that we have gone to the community and if they think we will run them over, we want. we have gone back to the 2 articles that concern them and we will revise that because a lot of in those communities remain on the let sale. certain that development in the region will come at their expense because they might to level for counting the cost from washington dc. now i'm joined by chris barry. chris is the founder and president of research and advisory from house mountain partners. good to have you with us. so chris, the whole idea of renewable energy, right. it's one of the main things. it's supposed to be about protecting the environment, but is it creating a new set of challenges for the environment because of the need? it's need for lift and well,

i think it certainly isn't. and thank you for having me. i call it the paradox of green growth in the sense that we all want to be carbonized. and we want to take c o 2 out of the atmosphere. but, you know, we're not going to do this with fewer or less natural resources. we're going to have to use many, many more of lithium in particular. um and so you know, that's the real challenge we could think of using perhaps certain technologies to bring more resources above ground or battery recycling for example. but the bottom line is neither of those 2 options are going to fill any potential gap. we're going to need a lot more, lift them in the next 10 years. all right, let's bring in a little bit of a political angle to this discussion. now seeing some latin american countries kind of taking a lot more control over lithium companies, bring that more on the state control. how does that impact the concerns about the environment? how does it impact the concerns about social justice and making show benefits,

reach the people? well, i think this is, you know, if we take chile as a case study, you know, they, they have laid out a national lift the and strategy, their plan, which land government's plan is to take a much more active role in the lithium supply chain. of course, chilly is one of the largest lithium producers in the world and is likely to stay that way for many, many years. and i think president bork, in particular, has realized listen, you know, we have companies like s q, m and album model that are mining lithium from solars and the outcome of the desert . and most of that value, once the lithium is mine, that value is realized elsewhere. whether or not it's battery production in asia or other parts of the world. and so these national lithium strategies, or maybe quads are resorts, nationalism would be another way to think about it is in, in this case of chile, the government's answer to try and share the wealth a little bit more. but again, this is going to cause i think tension with respect to foreign direct investment

coming into chile. i mean, for example, if you were thinking about exploring and perhaps developing a lithium asset in chile and you knew that a portion of your asset, a portion of your value was going to go to the state in terms of ownership. you may think twice about investing and shelly, maybe you'll think about argentina or even parts of africa, i think are really going to have to step up for lithium production in the future here. so, you know, the good thing about lithium is that it's not rare. you could find it in turn in hard rock sources, for example, in western australia, oregon, the lithium triangle, which is bolivia, chilly in argentina. again to main portions of, of lithium production globally. so it's not rare. the good news, the bad news, and maybe the more challenging news is we have to build out the remainder of the supply chain in order to really be carbonized. and that is what the remainder of the supply chain, the refining the battery production is. what china dominates currently, i'm glad you mentioned china. so there is this competition isn't that between china

and the us. the chinese and russian interests have made lithium investments in bolivia. is this going to strengthen the relative advantage particularly that china has when it comes to the lithium market? well, i think it will be a number of years perhaps a decade before you see any true. the coupling certainly with respect to with the i mean as an example, if you think about the full lithium supply chain, china mines about 13 percent of lithium globally. but they refine, in other words, take that role, lithium and converted into what we called battery grade lithium. they refine about 60 percent of the global total. and by the way, today, lift the m is about 890-0000, maybe $1000000.00 ton per year market. and then as you go further down the supply chain, whether not it's battery, manufacturing, or recycling, they own well over 70 to 80 percent of those markets. and so again, you could sort of say, well,

this is what the nationalization strategy is designed to do. capture more value in specific countries and of course the inflation reduction act here in the united states is a full long kind of frontal assault to try and ring if you will, some of that dominance away from china. but again, it's gonna take probably 10 years, lower their rate because we can do you a kind of us can shop or is it simply to fall behind? now, when it comes to the, it's position in the lithium market? well, china, china has been building this supply chain and again, we're just talking about lithium. you could look at nickel, you could look at where it's elements. you could look at a number of, of, of raw materials, critical raw materials. and they've been doing this for 10 or 15 years. i mean, you can go back in and look at old 5 year plans and they talk about having electric vehicles as an example and grid development and strategic imperatives. and one of the things that the chinese did was basically went outward, bound with their checkbook and locked up

a natural resources locked up with you in africa, locked up with human arch argentina, ross trail. yeah. as an example. and so for the rest of the world to catch up whether or not it's in north america or the or pain union, or wherever, we're going to have to effectively mimic that strategy. we're going to have to sort of thing i would argue, take a public private partnerships. so governments in the private sector locking down natural resources and trying to expedite the development in order to be able to catch up. all right, and coming back to the point of how solve the, the countries which host these minerals like lithium, trying to bring most a control over the process, the production chain and the processing chain. and you mentioned that, well this might drive away some of the investors who might go to another country instead, can they can the idea of a cost, how something along the lines of opec mitigate that risk for mineral host

countries and help them to, to get more benefit for them and that people, perhaps, you know, the, the idea of a battery metals opec has been floated. i know, i think in the nation with respect to nickel has talked about that specifically. um, i wouldn't be too optimistic about seeing with the m o pack or a battery, metals, opec. any time soon. i mean, these markets, the supply chain for lithium, for example, is, is very widely dispersed. um and because of that, i think, you know, take a little off a long time to really consolidate and concentrate that power. all right, well we haven't spent long enough talking to it's been a great conversation. thanks so much, chris. thank you for the opportunity. i appreciate the discovery of diamonds in 1966 health 10. busy swan and to ask because 6 richest country, but maybe 70 percent of its rough diamonds go to belgium mining from the bees. when the government has been demanding a fair, a slice of the spoils from the gems buried beneath its soil,

the base recently agreed to increase bald swan the share. under the new joint binding agreement, botswana will get 30 percent of extracted rock stones up from 25 percent in the old deal. well, that will gradually increase the hospital diamonds to be as mines over the next decade. the company will also invest millions of dollars to help develop the nation's economy. the partnership with the v is produced nearly $3000000000.00 in revenue for bought swan the last year president, buckwheat c, my c. c is threatened to comp time. so with the company of his nation did not receive a battery share, has increased pressure on the best buy. seeking to buy a stake in belgian, jen, try the h b and what all the deal is get to be finalized. all the nations like sierra leone tends in e a n gander, also pushing to increase the profits from the resources. and now from botswana is capital with joined by keith jeffries. he's a senior form, a senior policy adviser about swan is ministry of finance and economic development

. good to have you with us. keith is also the managing director of consultancy firm a consult botswana. so case is a new joint mining agreement of victory for bucks one or is it a win win deal? i think it's a, it's a win win deal. although the, some aspects of the deal do mock an improvement in the terms, but books on a government bus one that gets assumed at, at the expense of to be is to some extent. but, but overall, the best mutual benefit in the deal. uh and you mentioned that it comes some was that the expensive b is one that is punch again, we should say yes. um, and it is again because uh, you know, dropped into books one or show know for many years its ability to extract concessions from the bills every time business side of negotiations. but i think for, for the v is and what was critically important was getting assurance over the

long term mining leases. as you know, this was both a mining lease agreement and the state was a marketing agreements on the mining leases are now been extended to be on the 2054 for the well to 2054 for the joint venture. deb swanner, which is a 5050 j v between government bills and that's why those mines require very high levels of investment. so the long term assurance over those money leases, i think is, is good for everybody involved and in the j b. and it was critical for the bid is to have that assurance. and that's why they, i think we're prepared to concede that more than some other aspects of the line. but let's talk a little bit about what each side get south of this. then the government saying the deal will help achieve the aspirations of the bumps while the population will help

achieve development goals. while you're as aspirations of the books, one of the people that that's very vague and indeed we still, well let's let me try and make it a little less vague. oh, what's the bottom line of people going to see some money out of this? i think uh, bottom line is no um the uh that will be this diamonds for development funds, which is gonna be set top funded by the business. um that may help to provide some finance for investment projects. we don't, we don't know the details, but in terms of fiscal revenues for government, i don't think we're going to see much change as, as a result of disagreement. but we, we really need to see the details about once the agreements are fully signed, negotiated on where does it leave the biggest market position, then the of the, i mean it's, it has different aspects for the bill. so one is they've still got access to the

supply of diamonds from that's one of which is the largest single source of supply . so it helps to maintain the very strong position in the, in the diamond valued chain about the state. have to give up a little bit of rats and overtime the share of government is going to the bucks on the government's own company. because like a diamond company will increase gradually over a 10 year period. but i think so to be is it's means that they have a short excess to supply from deb swanner, which as i say, is the largest single source of supply which enables them to maintain that very strong position in the diamond world. all right, thanks for sharing your perspective on that case. thank you very much. and that's all show for this week. but remember, you can get in touch with us by the way to use the hash tag a j, c, d c. when you do or drop us an e mail content, the costs are down to 0 dot net is our address is more for you online at al serra dot com slash ctc. that'll take you straight to

a page which has individual reports, links not the entire episodes for you to catch up on. that's it for this edition of counting the cost on sam. you say that on the whole team here. thanks for joining us. use it. i'll just say it right is next. the this devastating war torn somalia and intensifying a hunger crisis that has cleaned the lives of around 40000 people possible for children under 5 years old. but at the heart of this tragedy, eliza tales of the immense facility and send the termination of

a people fleeing finance. while at the mercy of escalating and unforgiving climate change. people in power somalia, a fight for survival and jersey to the we believe that the world is big enough for both of our countries to throw life us treasury secretary janet. yeah. than wraps up her full day visit to china cooling. it's productive. the bottom of this is alex is a live from jo. ha, also coming up to you since 5 ukrainian soldiers back hun russia a choose. is it a violation of prison? a small deal? we will pull him. the baby's savant is raining assault on the janine refugee can.